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The Smoky Hill Museum wants community input.
According to the museum, you can help select future exhibit topics for the fall of 2024 through 2025. Please go to smokyhillmuseum.org and click on the “Exhibit Survey” link at the top of the page. You can then pick up to three exhibit ideas that interest you most. Your response and input are vital to the planning process. The survey should only take a couple of minutes. Everyone’s feedback is important!
Responses will be used to round out the Museum’s 48-month exhibit schedule, which was based on community input given in 2020. It currently has the following:
- Fall 2022 – Fire and the Embers of Discovery
- Spring 2023 – Immigration – the journey to Salina in the late 1800s
- Fall 2023 – Women of Salina
- Spring 2024 – The Smoky Hill River
- Fall 2024
- Spring 2025
- Fall 2025
- Spring 2026 – America’s 250th anniversary
- Fall of 2026 – Celebrate the Museum’s 40th anniversary
The Smoky Hill Museum uses a 48-month schedule to plan, collect and research exhibits. A typical exhibition takes at least 18 months from beginning to end (or to fully develop and fabricate before it’s opened to the public.) Often the search for artifacts and research materials is conducted years before the exhibit opens.
“It is important to stay relevant, and the best way to do that is through community input,” says Museum Director Susan Hawksworth.
The Museum is open to the public Tuesdays-Fridays 11-5 and Saturdays from 10-5. Admission is free. The special exhibit, Let’s Play, is currently on display. | https://www.ksal.com/museum-seeking-public-input/ | 2022-05-09T21:00:24Z | https://www.ksal.com/museum-seeking-public-input/ | false | 1 |
Many pockets of Mumbai plunged into darkness on Monday evening in a power outage caused by what was termed as a "technical fault". The outage comes amid a series of disruptions in power supply faced by the financial capital over the last month amid a severe shortage of electricity that has forced the state discom MSEDCL to initiate load-shedding in several parts of Maharashtra.
Suburbs like Bandra, Santacruz and Chembur, and pockets in central Mumbai such as Dadar reported the outage for over 15 minutes starting at 2130 hrs.
Adani Electricity Mumbai said 1.8 lakh consumers serviced by it were impacted because rival Tata Power's equipment failed at the Dharavi receiving station. Tata Power sought to shift the blame on the Maharashtra State Electricity Transmission Company, claiming power tripping lasted for around 7 minutes.
Also Read:
There was an incident of power tripping today for a very short time (around 7 minutes) due to tripping of 220kV MSETCL OLTS protection at their Trombay Receiving Station, giving shutdown to 160MW load at Tata Power's Dharavi Receiving Station, an official spokesperson said.
About ten days ago, the state-run Brihanmumbai Electric Supply and Transport (BEST) undertaking, which had witnessed several outages in areas serviced by it, had said the ongoing heatwave is leading to extra demand from consumers which is resulting in disruptions as supply is not being able to keep pace with demand.
Due to a large increase in the temperature, people are using ACs and fans more, resulting in heavy demand and consumption of electricity suddenly. This may affect the network and generates cable or feeder faults across the island city, a spokesperson for the civic body-run undertaking had said.
The city has suffered outages in February this year and multiple times over the last month ever since the state government admitted to a shortfall of about 3,000 MW.
First Published: IST | https://www.cnbctv18.com/infrastructure/many-pockets-of-mumbai-plunge-into-darkness-in-another-power-outage-13427832.htm | 2022-05-09T21:03:59Z | https://www.cnbctv18.com/infrastructure/many-pockets-of-mumbai-plunge-into-darkness-in-another-power-outage-13427832.htm | false | 7 |
Bellaire Parents Write HISD Superintendent, Objecting to the Removal of Their Principal
A group of Bellaire parents and former students Thursday morning posted a letter to Houston Superintendent Millard House II to protest the removal of Michael McDonough, as principal of their high school, saying he is the reason their children stay in HISD. McDonough has been temporarily reassigned to an...
www.houstonpress.com | https://www.newsbreak.com/news/2593249660801/bellaire-parents-write-hisd-superintendent-objecting-to-the-removal-of-their-principal | 2022-05-09T21:04:32Z | https://www.newsbreak.com/news/2593249660801/bellaire-parents-write-hisd-superintendent-objecting-to-the-removal-of-their-principal | false | null |
Nets' Seth Curry Has Surgery on Ankle Injury; Expected to Be Ready for Training Camp
May 10, 2022Tayfun Coskun/Anadolu Agency via Getty Images
The Brooklyn Nets announced Monday that shooting guard Seth Curry underwent arthroscopic surgery on his left ankle and is expected to be ready for the start of training camp next season.
Curry battled with ankle soreness throughout the 2021-22 season.
This article will be updated soon to provide more information and analysis.
For more from Bleacher Report on this topic and from around the sports world, check out our B/R app, homepage and social feeds—including Twitter, Instagram, Facebook and TikTok. | https://bleacherreport.com/articles/10035377-nets-seth-curry-has-surgery-on-ankle-injury-expected-to-be-ready-for-training-camp | 2022-05-09T21:07:24Z | https://bleacherreport.com/articles/10035377-nets-seth-curry-has-surgery-on-ankle-injury-expected-to-be-ready-for-training-camp | true | null |
Over 46,000 infant clothing items recalled due to ‘choking and laceration hazards’
(Gray News) - Over 46,000 infant clothing items from Wintry Water Factory have been recalled due to choking and laceration hazards, according to the Consumer Product Safety Commission.
The recall names all Infant French terry jumpsuits, rompers, snap suits, baby dresses and bibs sold between August 2020 and March 2022.
CPSC said the garments have snaps that are able to detach as well as expose small sharp prongs, which pose choking and laceration hazards.
The following styles are affected: French terry jumpsuit, long-sleeve romper, summer romper, tank top romper, bubble romper, footed romper, long-sleeve snap suit, short-sleeve snap suit, Azalea baby dress, Oslo baby Dress, Juniper baby dress, Geneva baby dress, Merano baby dress, Kerchief bib and French terry bib.
The agency said it has received 29 reports of the snaps “detaching between the prong ring and the stud or socket piece,” but no injuries have been reported.
Images of the garments can be found on the company recall portal, where customers can submit a recall form for a full refund or store credit.
The affected items can be identified by the following codes on the labels:
- TX-JM-I-XXII
- TX-JM-VII-XXI
- TX-JM-I-XXI
- TX-JM-VII-XX
The products were sold on the company website and boutiques nationwide.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.kplctv.com/2022/05/09/over-46000-infant-clothing-items-recalled-due-choking-laceration-hazards/ | 2022-05-09T21:08:21Z | https://www.kplctv.com/2022/05/09/over-46000-infant-clothing-items-recalled-due-choking-laceration-hazards/ | true | 21 |
Face-scanner Clearview agrees to limits in Chicago court settlement
CHICAGO - Facial recognition startup Clearview AI has agreed to restrict the use of its massive collection of face images to settle allegations that it collected people’s photos without their consent.
The company in a legal filing Monday agreed to permanently stop selling access to its face database to private businesses or individuals around the U.S., putting a limit on what it can do with its ever-growing trove of billions of images pulled from social media and elsewhere on the internet.
The settlement — which must be approved by a county judge in Chicago — will end a 2-year-old lawsuit brought by the American Civil Liberties Union and other groups over alleged violations of an Illinois digital privacy law. The company still faces a separate privacy case before a federal judge in Illinois.
Clearview is also agreeing to stop making its database available to Illinois state government and local police departments for five years. The New York-based company will continue offering its services to federal agencies, such as U.S. Immigration and Customs Enforcement, and to other law enforcement agencies and government contractors outside of Illinois.
"This is a huge win," said Linda Xóchitl Tortolero, president of Chicago-based Mujeres Latinas en Acción, which works with survivors of gender-based violence and was a plaintiff in the case along with the ACLU and other groups.
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Among the concerns raised by Tortolero’s group was that photos posted on social media sites such as Facebook or Instagram — and turned into a "faceprint" by Clearview — could end up being used by stalkers, ex-partners or predatory companies to track a person’s whereabouts and social activity.
A prominent attorney who was defending Clearview against the lawsuit said the company is "pleased to put this litigation behind it."
"The settlement does not require any material change in the company’s business model or bar it from any conduct in which it engages at the present time," said a statement from Floyd Abrams, a lawyer known for taking on high-profile free speech cases.
Abrams noted that the company was already not providing its services to police agencies in Illinois and agreed to the 5-year moratorium to "avoid a protracted, costly and distracting legal dispute with the ACLU and others."
Illinois’ Biometric Information Privacy Act allows consumers to sue companies that don’t get permission before harvesting data such as faces and fingerprints. Another privacy lawsuit over the same Illinois law led Facebook last year to agree to pay $650 million to settle allegations it used photo face-tagging and other biometric data without the permission of its users.
"It shows we can fight these companies when they’re taking these kinds of actions," Tortolero said of the Clearview settlement. "It also highlights the fact that there are many ways that social media — and the technology companies that collect this kind of information — can be harmful to Americans."
The settlement document says Clearview continues to deny and dispute the claims brought by the ACLU and other plaintiffs. But even before Monday’s settlement, the case has been curtailing some of the company’s controversial business practices.
Clearview AI co-founder and CEO Hoan Ton-That told The Associated Press in April that the company was preparing to launch a new "consent-based" business product to compete with the likes of Amazon and Microsoft in verifying people’s identity using facial recognition.
The new venture would use Clearview’s algorithms to verify a person’s face, but would not involve its trove of some 20 billion images, which Ton-That said is now reserved for law enforcement use. That’s a shift from earlier in Clearview’s business history when it had pitched the technology for a variety of commercial uses.
Regulators from Australia to Canada, France and Italy have taken measures to try to stop Clearview from pulling people’s faces into its facial recognition engine without their consent. So have tech giants such as Google and Facebook. A group of U.S. lawmakers earlier this year warned that "Clearview AI’s technology could eliminate public anonymity in the United States."
While Monday’s settlement "reins in Clearview’s practices significantly," it should not end scrutiny of the company by Congress, state legislatures and regulators, said Nathan Freed Wessler, deputy director of ACLU’s speech, privacy and technology project. Much of the strength of Clearview’s artificial intelligence technology – now a selling point for police and other uses – is that it was able to "learn" from all of the faces it scanned across the publicly accessible internet.
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"This company’s approach was effectively a Silicon Valley mentality of let’s break things first and then figure out how to clean up the mess later in order to try to make a profit," Wessler said. "They broke through a very strong taboo that had kept big tech companies like Google and others from building the same product that they had the technological capability to do." | https://www.fox32chicago.com/news/face-scanner-clearview-agrees-to-limits-in-chicago-court-settlement | 2022-05-09T21:10:01Z | https://www.fox32chicago.com/news/face-scanner-clearview-agrees-to-limits-in-chicago-court-settlement | false | 29 |
In response to the leak of the Supreme Court's decision to overturn Roe v. Wade, the legal precedent for the right to an abortion in the United States, the New York Times changed today's Wordle answer from "fetus" to a new solution for as many users as possible, according to a statement from the company.
Josh Wardle, the game's creator, had set future answers like this well in advance of the NYT's acquisition of his game or the leak of the Supreme Court's unprecedented decision. The NYT's statement insists that "at New York Times Games, we take our role seriously as a place to entertain and escape, and we want Wordle to remain distinct from the news."
Many users could still be faced with the original puzzle, however. The new solution will only be present if the user has refreshed their browser tab since the NYT made the change last week, not always a given when many players just keep a tab with the game open.
"Because of the current Wordle technology, it can be difficult to change words that have already been loaded into the game," the NYT explains. "When we discovered last week that this particular word would be featured today, we switched it for as many solvers as possible."
The NYT was certainly put in an awkward position by today's puzzle, with a long-feared rollback of a human right in the United States being the last thing anyone wants to think about when loading up their favorite little puzzle game.
I think the company made the right call here, for what it's worth. Similarly to how Blizzard had to change the name of an Overwatch character who was initially named for an allegedly abusive senior employee at the company, I don't think there was another, better option here.
In the wake of the Supreme Court's decision leaking, high-profile developers like Double Fine and Bungie have voiced opposition to the decision and support for the right to an abortion, with Bungie encouraging followers to donate to a selection of pro-choice organizations: | https://www.pcgamer.com/au/todays-wordle-was-going-to-be-fetus-but-then-the-us-supreme-court-happened/ | 2022-05-09T21:10:13Z | https://www.pcgamer.com/au/todays-wordle-was-going-to-be-fetus-but-then-the-us-supreme-court-happened/ | false | 3 |
Financial results to be released after market close;
Conference call to be conducted at 4:30 pm ET
SARASOTA, Fla., May 9, 2022 /PRNewswire/ -- INVO Bioscience, Inc. (NASDAQ: INVO), a commercial-stage fertility company focused on expanding access to advanced treatment worldwide with its INVOcell® medical device and the IVC procedure it enables, will report financial results for its first quarter 2022, ended March 31, 2022, after the market close on Monday, May 16, 2022. The Company has scheduled a conference call that same day, Monday, May 16, 2022, at 4:30 pm ET, to review the results.
First Quarter 2022 Conference Call Details
Date and Time: Monday, May 16, 2022 at 4:30 pm ET
Call-in Information: Interested parties can access the conference call by dialing 833-756-0861 or 412-317-5751.
Live Webcast Information: Interested parties can access the conference call via a live webcast, which is available in the Investor Relations section of the Company's website at https://www.invobioscience.com/investors/ or https://app.webinar.net/6XQVP1XJjRA.
Replay: A teleconference replay of the call will be available through May 23, 2022, at 877-344-7529 or 412-317-0088, replay access code # 4725753. A webcast replay will be available in the Investor Relations section of the Company's website at https://www.invobioscience.com/investors/ for 90 days.
About INVO Bioscience
We are a commercial-stage fertility company dedicated to expanding the assisted reproductive technology ("ART") marketplace by making fertility care accessible and inclusive to people around the world. Our flagship product is INVOcell®, a revolutionary medical device that allows fertilization and early embryo development to take place in vivo within the woman's body. Our primary mission is to implement new medical technologies aimed at increasing the availability of affordable, high-quality, patient-centered fertility care. This treatment solution is the world's first intravaginal culture technique for the incubation of oocytes and sperm during fertilization and early embryo development. This technique, designated as "IVC", provides patients a more natural, intimate, and more affordable experience in comparison to other ART treatments. The IVC procedure can deliver comparable results at a fraction of the cost of traditional in vitro fertilization ("IVF") and is a significantly more effective treatment than intrauterine insemination ("IUI"). Our commercialization strategy is focused on the opening of dedicated "INVO Centers" offering the INVOcell® and IVC procedure (with three centers in North America now operational), in addition to continuing to sell our technology solution into existing fertility clinics. For more information, please visit www.invobio.com.
Safe Harbor Statement
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company invokes the protections of the Private Securities Litigation Reform Act of 1995. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategies, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our filings at www.sec.gov. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
INVO Bioscience
Steve Shum, CEO
978-878-9505
steveshum@invobioscience.com
Investors
Lytham Partners, LLC
Robert Blum
602-889-9700
INVO@lythampartners.com
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SOURCE INVO Bioscience, Inc. | https://www.kfvs12.com/prnewswire/2022/05/09/invo-bioscience-report-first-quarter-2022-financial-results-monday-may-16-2022/ | 2022-05-09T21:10:33Z | https://www.kfvs12.com/prnewswire/2022/05/09/invo-bioscience-report-first-quarter-2022-financial-results-monday-may-16-2022/ | true | 39 |
-- Exceeds high end of guidance on revenue, adjusted EBITDA, and gross profit margin in the first quarter --
-- Raises full-year guidance for adjusted EBITDA and gross profit margin --
-- Expects positive cash flow in the fourth quarter --
NEW YORK, May 9, 2022 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN) ("LivePerson" or the "Company"), a global leader in conversational AI, today announced financial results for the first quarter ended March 31, 2022.
Total revenue was $130.2 million for the first quarter of 2022, an increase of 21% as compared to the same period last year. Within total revenue, business operations revenue for the first quarter of 2022 increased 22% year over year to $121.1 million, and revenue from consumer operations increased 1% year over year to $9.1 million.
LivePerson signed five seven-figure deals and 102 deals in total in the first quarter, comprising 26 new and 76 existing customer contracts. Trailing-twelve-months average revenue per enterprise and mid-market customer increased 32% in the first quarter to another record high of $645,000, up from approximately $490,000 in the comparable prior-year period.
"LivePerson had a very strong quarter, beating both top and bottom line guidance. We continued to see robust platform usage, with Conversational Cloud volume growing 34% year-over-year for AI based messaging conversations and 27% year-over-year for total messaging conversations. These achievements illustrate strength across the business and are clear proof points of execution on our key strategic priorities, including our profitable growth plan, which we announced at the beginning of the year," said founder and CEO Robert LoCascio. "These results are a credit to our people, and I am very proud of the talent, commitment and great work of our global team. We are confident that our laser focus on key priorities will help us maintain our industry-leading position and strategically deploy capital to generate stockholder value."
"Our first quarter results demonstrate progress on our strategy to accelerate profitable growth. Revenue and adjusted EBITDA both exceeded the top end of our guidance, as we began to optimize our cost structure and go-to-market strategy, including realizing post-acquisition cost and revenue synergies. With such strong execution, we are improving our full year 2022 guidance for adjusted EBITDA and gross profit margin, and we expect to see positive cash flow in the fourth quarter of 2022," added CFO John Collins.
During the first quarter, the Company signed contracts with the following new customers:
- A leading American designer and manufacturer of bicycles and related products
- One of the top 5 online travel aggregators in the world
- A government agency in Argentina
- A market-leading BPO provider in APAC
- An up-and-coming Canadian sports betting website
The Company also expanded business with:
- A top 3 home improvement retailer in the world
- One of the 3 largest airlines in the world
- A top 2 telecommunications service provider in Japan
- A major blockchain software technology company
- A top 3 health insurance provider in the U.K.
Net loss for the first quarter of 2022 was $(65.4) million or $(0.86) per share, as compared to a net loss of $(21.2) million or $(0.31) per share in the first quarter of 2021. Adjusted operating loss, a non-GAAP financial measure, for the first quarter of 2022 was $(24.9) million, as compared to an adjusted operating income of $6.7 million in the first quarter of 2021. Adjusted operating (loss) income excludes amortization of purchased intangibles, stock-based compensation, restructuring costs, other litigation and consulting costs, contingent earn-out adjustments, acquisition costs, interest expense, net, and other income, net.
A reconciliation of non-GAAP financial measures to GAAP measures has been provided in the financial tables included in this press release. An explanation of the non-GAAP financial measures and how they are calculated is included below under the heading "Non-GAAP Financial Measures."
Adjusted EBITDA, a non-GAAP financial measure, for the first quarter of 2022 was $(17.6) million as compared to $13.3 million in the first quarter of 2021. Adjusted EBITDA excludes amortization of purchased intangibles, stock-based compensation, contingent earn-out adjustments, restructuring costs, depreciation, other litigation and consulting costs, benefit from income taxes, acquisition costs, interest expense, net, and other income, net.
The Company's cash balance was $480.7 million at March 31, 2022, as compared to $521.8 million at December 31, 2021.
The following forward-looking measures and the underlying assumptions involve significant known and unknown risks and uncertainties, and actual results may vary materially from these forward-looking measures. The Company does not present a quantitative reconciliation of the forward-looking non-GAAP financial measures, adjusted EBITDA, adjusted EBITDA margin, and non-GAAP gross margin to the most directly comparable GAAP financial measures (or otherwise present such forward-looking GAAP measures) because it is impractical to forecast certain items without unreasonable efforts due to the uncertainty and inherent difficulty of predicting, within a reasonable range, the occurrence and financial impact of and the periods in which such items may be recognized. In particular, these non-GAAP financial measures exclude certain items, including amortization of purchased intangibles, stock-based compensation, depreciation, other litigation and consulting costs, restructuring costs, contingent earn-out adjustments, benefit from income taxes, interest income (expense), and other expense (income), which depend on future events that the Company is unable to predict. Depending on the size of these items, they could have a significant impact on the Company's GAAP financial results.
With regard to the top line, the Company is reaffirming a 2022 revenue guidance range of $544.8 million to $563.3 million, or 16.0% to 20.0% growth year-over-year. The revenue guidance range for the second quarter is $132.5 million to $135.5 million, or 11.0% to 13.0% growth year-over-year.
With the strong results of the first quarter demonstrating early signs of building leverage in the business and the Company's commitment to execution on its profitable growth strategy, the Company is raising its 2022 adjusted EBITDA guidance to a range of $1.0 million to $10.0 million, or a 0.0% to 2.0% adjusted EBITDA margin, up from prior guidance of $(20.0) million to $0.0 million, or a (3.7)% to 0.0% adjusted EBITDA margin. The Company is guiding for second quarter adjusted EBITDA in a range of $(9.5) million to $(5.5) million or a (7.2)% to (4.1)% adjusted EBITDA margin.
The Company's detailed financial expectations are as follows:
Second Quarter 2022
Full Year 2022
The Company is guiding to non-GAAP gross margin of 70% to 72% for the full year 2022 and the second quarter of 2022.
Included in the accompanying financial results are expenses related to stock-based compensation, as follows:
Included in the accompanying financial results are expenses related to the amortization of purchased intangibles, as follows:
LivePerson will post a presentation providing supplemental information for the first quarter 2022 on the investor relations section of the Company's web site at www.ir.liveperson.com.
The Company will discuss its first quarter 2022 financial results during a teleconference today, May 9, 2022. To participate via telephone, callers should dial in five to ten minutes prior to the 5:00 p.m. Eastern start time; domestic callers (U.S. and Canada) should dial 1-877-407-0784, while international callers should dial 1-201-689-8560, and both should reference the conference ID "13729136."
The conference call will also be simulcast live on the Internet and can be accessed by logging onto the investor relations section of the Company's web site at www.ir.liveperson.com.
If you are unable to participate in the live call, the teleconference will be available for replay approximately two hours after the call. To access the replay, please call 1-844-512-2921 (U.S. and Canada) or 1-412-317-6671 (international). Please reference the conference ID "13729136." A replay will also be available on the investor relations section of the Company's web site at www.ir.liveperson.com.
About LivePerson
LivePerson (NASDAQ:LPSN) is a leading Conversational AI company creating digital experiences that are Curiously Human. Every person is unique, and our technology makes it possible for companies to treat their audiences that way at scale. Our customers, including leading brands like HSBC, Orange, and GM Financial, can now meet consumers where they are across social media, messaging, email, voice, and more. Nearly a billion conversational interactions are powered by our Conversational Cloud each month. Out of that comes a uniquely rich data set for AI for brands to build connections that are anything but artificial. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our Conversational AI, please visit liveperson.com.
Non-GAAP Financial Measures
Investors are cautioned that the following financial measures used in this press release are "non-GAAP financial measures": (i) adjusted EBITDA, or earnings/(loss) before (benefit from) income taxes, interest income (expense), other expense (income), depreciation, amortization, stock-based compensation, restructuring costs, acquisition costs and other costs; (ii) adjusted EBITDA margin, or earnings/(loss) before (benefit from) income taxes, interest income (expense), other expense (income), depreciation, amortization, stock-based compensation, restructuring costs, acquisition costs and other costs divided by revenue; (iii) adjusted operating (loss) income, or operating income (loss) excluding amortization, stock-based compensation, restructuring costs, acquisition costs, deferred tax asset valuation allowance, and other costs; (iv) free cash flow, or net cash provided by operating activities less purchases of property and equipment, including capitalized software; and (v) non‑GAAP gross profit and non‑GAAP gross margin, or GAAP gross profit and GAAP gross margin, respectively, adjusted to exclude, as applicable, certain expenses as presented the Reconciliation of Adjusted EBITDA.
Non-GAAP financial information should not be construed as an alternative to any other measures of performance determined in accordance with GAAP, or as an indicator of our operating performance, liquidity or cash flows generated by operating, investing and financing activities as there may be significant factors or trends that it fails to address. We present non-GAAP financial information because we believe that it is helpful to some investors as one measure of our operations.
Forward-Looking Statements
Statements in this press release and on our earnings call regarding LivePerson that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements, including but not limited to financial guidance, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. It is routine for our internal projections and expectations to change as the quarter and year progress, and therefore it should be clearly understood that the internal projections and beliefs upon which we base our expectations may change. Although these expectations may change, we are under no obligation to inform you if they do. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: major public health issues, and specifically the pandemic caused by the spread of COVID-19, and their effects on the U.S. and global markets; our ability to retain key personnel, attract new personnel and to manage staff attrition; strain on our personnel resources and infrastructure from supporting our existing and growing customer base; the ability to successfully integrate past or potential future acquisitions; our ability to secure additional financing to execute our business strategy; delays in our implementation cycles; payment-related risks; potential fluctuations in our quarterly revenue and operating results; limitations on the effectiveness of our controls; non-payment or late payment of amounts due to us from a significant number of customers; volatility in the capital markets; recognition of revenue from subscriptions; customer retention and engagement; the migration of existing customers to our new platform; our ability to attract new customers and new consumer users of our consumer services; our ability to develop and maintain successful relationships with social media and other third-party consumer messaging platforms and endpoints; the highly competitive markets in which we operate; general economic conditions; privacy concerns relating to the Internet that could result in new legislation or negative public perception; new regulatory or other legal requirements that could materially impact our business; governmental export controls and economic sanctions; industry-specific regulation and unfavorable industry-specific laws, regulations or interpretive positions; future regulation of the Internet or mobile devices; greater than anticipated income, non-income and transactional tax liabilities; failures or security breaches in our services, those of our third party providers, or in the websites of our customers; regulation or possible misappropriation of personal information belonging to our customers' Internet users; technology systems beyond our control and technology-related defects that could disrupt the LivePerson services; our dependence on the continued viability of the Internet; our ability to protect our intellectual property rights or potential infringement of the intellectual property rights of third parties; the use of AI in our product offerings; the presence of, and difficulty in correcting, errors, failures or "bugs" in our products; our ability to license necessary third party software for use in our products and services, and our ability to successfully integrate third party software; potential adverse impact due to foreign currency and cryptocurrency exchange rate fluctuations; additional regulatory requirements, tax liabilities, currency exchange rate fluctuations and other risks as we expand internationally, as we expand into new offerings including AI-assisted healthcare and/or as we expand into direct-to-consumer services; risks related to our operations in Israel and Ukraine, and the civil and political unrest and potential for armed conflict in those regions; potential failure to meeting service level commitments to certain customers; legal liability and/or negative publicity for the services provided to consumers via our technology platforms; technological or other defects that could disrupt or negatively impact our services; our ability to maintain our reputation; our lengthy sales cycles; changes in accounting principles generally accepted in the United States; natural catastrophic events and interruption to our business by man-made problems; potential limitations on our ability to use net operating losses to offset future taxable income; risks related to our common stock being traded on more than one securities exchange; and other factors described in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 28, 2022. This list is intended to identify only certain of the principal factors that could cause actual results to differ from those discussed in the forward-looking statements. Readers are referred to the Company's reports and documents filed from time to time by us with the Securities and Exchange Commission for a discussion of these and other important factors that could cause actual results to differ from those discussed in forward-looking statements.
Investor Relations contact
ir-lp@liveperson.com
212-609-4214
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SOURCE LivePerson, Inc. | https://www.kfvs12.com/prnewswire/2022/05/09/liveperson-announces-first-quarter-2022-financial-results/ | 2022-05-09T21:10:54Z | https://www.kfvs12.com/prnewswire/2022/05/09/liveperson-announces-first-quarter-2022-financial-results/ | false | 13 |
BAKERSFIELD, Calif. (KGET) — A group of 300 vehicles blocked the streets of Bakersfield Saturday night, assaulting police officers and harassing residents.
Bakersfield police confronted the group five times before breaking it up.
The first incident occurred at about 8:42 p.m. when officers responded to reports of the group blocking the intersection of Brundage Lane and A Street, police said. The group appeared violent and officers requested backup, which arrived at 9:09 p.m.
Video of the scene shared with 17 News showed a large crowd at the intersection with witnesses telling 17 News people were doing doughnuts and setting off fireworks.
Officers said the vehicles dispersed recklessly in all directions and reconvened at the intersection of Mount Vernon Avenue and Columbus Street where officers located them at about 9:32 p.m.
Police said the first officers on scene had bottles thrown at them.
The group began to disperse after more police backup arrived and made its way to the intersection of Rosedale Highway and Mohawk Street.
Officers arrived at 10:16 p.m., police said, and the group attacked police vehicles. Police located the alleged event organizer and chased him on foot.
Oliver Perry, 23, of Bakersfield, was found with a concealed handgun and was arrested on suspicion of weapons violations, resisting/delaying an officer and charges associated with the “takeover,” police said.
Officers also arrested Danny Hernandez, 18, of Bakersfield, on charges associated with the takeover and resisting/delaying an officer, police said.
Their vehicles were impounded.
A 17 News traffic camera caught this scene showing the crowd dispersing as officers arrived, leaving burnt rubber tracks in the intersection.
After that, the group moved to Wible and Pacheco roads. Officers drove there at about 11:42 p.m. and the crowd threw objects at them.
An officer was intentionally hit by a car while on foot and suffered minor injuries, police said. The driver fled and faces a charge of assault with a deadly weapon.
Xander Moreno, 19, of Bakersfield, Deon Walker, 18, of Clovis, Luis Hernandez, 23, of Fresno and Jamal Graves, 25, of Fresno were arrested at that location, police said.
By midnight, the group moved to Downtown Bakersfield taking over 17th and M streets.
Officers chased a vehicle but had to stop because the vehicle went into the opposite lanes of traffic, turned its headlights off and reached speeds above 100 mph, according to police.
A Kern County Sheriff’s Office’s helicopter trailed vehicle until it crashed and became inoperable in the 8400 block of Oliver Street, police said.
The driver, Simon Martinez, 20, of Wasco, and passenger Jose Torres, 19, of Wasco were arrested, police said. Officers seized drugs and several weapons.
After that incident, the group began to disperse, but police said they received several reports of uninvolved motorists becoming trapped or stopped by the group. There were reports of vehicles — some containing children — being vandalized, and reports of assault.
The investigation is ongoing.
Anyone with information or who was the victim of an unreported crime as a result of these incidents are encouraged to contact BPD at (661) 327-7111. | https://fox5sandiego.com/california-wire/street-takeover-group-rampages-through-bakersfield-assaulting-officers-and-residents-8-arrested/ | 2022-05-09T21:15:12Z | https://fox5sandiego.com/california-wire/street-takeover-group-rampages-through-bakersfield-assaulting-officers-and-residents-8-arrested/ | true | 6 |
Shares of AptarGroup, Inc. (NYSE:ATR – Get Rating) reached a new 52-week low during trading on Monday . The stock traded as low as $108.36 and last traded at $109.30, with a volume of 1964 shares changing hands. The stock had previously closed at $111.23.
A number of analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of AptarGroup from $156.00 to $150.00 in a research report on Monday, May 2nd. Morgan Stanley cut their target price on shares of AptarGroup from $150.00 to $126.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 20th. Finally, StockNews.com assumed coverage on shares of AptarGroup in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $137.00.
The company has a market cap of $7.02 billion, a P/E ratio of 32.52, a P/E/G ratio of 3.97 and a beta of 0.63. The company has a 50-day moving average price of $116.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.91 and a quick ratio of 1.37.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 18th. Investors of record on Wednesday, April 27th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, April 26th. AptarGroup’s payout ratio is presently 46.20%.
In related news, Director Maritza Gomez Montiel sold 1,092 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $117.81, for a total transaction of $128,648.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Atticus Wealth Management LLC purchased a new position in AptarGroup during the fourth quarter valued at approximately $26,000. UMB Bank N A MO bought a new stake in AptarGroup in the fourth quarter worth approximately $28,000. Marshall Wace LLP bought a new stake in AptarGroup in the fourth quarter worth approximately $31,000. Lumature Wealth Partners LLC grew its position in AptarGroup by 64.2% in the fourth quarter. Lumature Wealth Partners LLC now owns 261 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 102 shares in the last quarter. Finally, SouthState Corp bought a new stake in AptarGroup in the third quarter worth approximately $33,000. 87.70% of the stock is currently owned by hedge funds and other institutional investors.
AptarGroup Company Profile (NYSE:ATR)
AptarGroup, Inc provides a range of dispensing, sealing, and material science solutions primarily for the beauty, personal care, home care, prescription drug, consumer health care, injectable, and food and beverage markets. The company operates through three segments: Pharma, Beauty + Home, and Food + Beverage.
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First Washington CORP grew its holdings in shares of BlackRock Science and Technology Trust (NYSE:BST – Get Rating) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,281 shares of the company’s stock after buying an additional 5,947 shares during the period. BlackRock Science and Technology Trust accounts for about 2.5% of First Washington CORP’s holdings, making the stock its 9th largest holding. First Washington CORP’s holdings in BlackRock Science and Technology Trust were worth $6,360,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisor Group Holdings Inc. lifted its holdings in BlackRock Science and Technology Trust by 1.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 66,745 shares of the company’s stock worth $3,337,000 after buying an additional 711 shares during the last quarter. Patten Group Inc. lifted its holdings in BlackRock Science and Technology Trust by 23.4% during the 3rd quarter. Patten Group Inc. now owns 12,251 shares of the company’s stock worth $639,000 after buying an additional 2,327 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new stake in shares of BlackRock Science and Technology Trust in the 3rd quarter valued at about $808,000. National Asset Management Inc. lifted its holdings in shares of BlackRock Science and Technology Trust by 10.1% in the 4th quarter. National Asset Management Inc. now owns 6,491 shares of the company’s stock valued at $325,000 after purchasing an additional 593 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of BlackRock Science and Technology Trust by 20.0% in the 3rd quarter. Royal Bank of Canada now owns 300,153 shares of the company’s stock valued at $15,656,000 after purchasing an additional 49,935 shares during the last quarter.
Shares of BlackRock Science and Technology Trust stock traded down $2.13 on Monday, hitting $35.50. The stock had a trading volume of 6,123 shares, compared to its average volume of 175,553. BlackRock Science and Technology Trust has a 52-week low of $37.21 and a 52-week high of $61.70. The company’s 50 day moving average price is $41.29 and its 200 day moving average price is $46.40.
BlackRock Science and Technology Trust Profile (Get Rating)
BlackRock Science and Technology Trust is a closed ended equity mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests directly and indirectly through derivative such as options in public equity markets of countries across the globe. The fund seeks to invest in stocks of companies operating across the science and technology sector.
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Southwest Gas Holdings, Inc. Announces First Quarter 2022 Financial Results
Reaffirms 2022 Guidance and Confidence in Long-Term Growth Prospects
Moving Forward Expeditiously with Strategic Alternatives Review Process
LAS VEGAS, May 9, 2022 /PRNewswire/ -- Southwest Gas Holdings, Inc. (NYSE: SWX) today reported first quarter 2022 financial results.
In the first quarter of 2022, Southwest Gas delivered:
- Adjusted consolidated earnings of $1.74 per diluted share (and consolidated earnings of $1.58 per diluted share), compared to consolidated earnings of $2.03 per diluted share for the first quarter of 2021.
- Adjusted consolidated net income of $106.2 million (and consolidated net income of $96.2 million), compared to consolidated net income of $117.2 million for the first quarter of 2021.
- A $0.10 (4.2%) increase in the annualized dividend rate.
- Strategic Alternatives Process to review all strategic alternatives available to maximize value for Southwest Gas stockholders.
"Our first quarter results reflect the impacts of global inflationary headwinds across our portfolio, as well as typical seasonality and business volatility at our infrastructure services business," said Karen S. Haller, President and Chief Executive Officer. "Our businesses are fundamentally strong and poised for long-term value creation despite these short-term impacts. Today we are reaffirming our full-year 2022 guidance and believe we are positioned to deliver the results our stockholders expect."
Reaffirming Financial Guidance
Southwest Gas reaffirms its financial guidance as recently updated:
Natural Gas Distribution Segment Guidance and Outlook:
- ROE in 2023 and beyond of 8%+;
- Five-year utility rate base compound annual growth rate of 5% – 7% (2022 – 2026);
- 5-Year O&M/per customer CAGR of less than 1%;
- 2022 net income of $200 million to $210 million, which includes COLI earnings of $3 million to $5 million;
- 2022 capital expenditures of $650 million to $700 million, in support of customer growth, system improvements, and pipe replacement programs; and
- 5-Year capital expenditures of $2.5 – $3.5 billion.
Centuri / Utility Infrastructure Services Segment Guidance and Outlook:
- 2022 revenues of $2.65 billion to $2.80 billion;
- 2022 run rate EBITDA margin of 11% to 12% (excluding non-recurring costs of the potential separation); and
- 2022 – 2026 Adjusted EBITDA CAGR of 9% – 11%.
MountainWest Guidance and Outlook:
- 2022 revenue of $240 million to $245 million;
- 2022 run rate EBITDA margin of 68% to 72% (excluding non-recurring and overlapping integration costs);
- Earnings accretion in 2022 on a run rate basis exclusive of non-recurring integration costs; and
- The Company is now targeting approximately $100 million in incremental growth investment opportunities at MountainWest over the next three years. The Company further expects to construct these projects at an EBITDA build multiple of less than 6x, driving meaningful value creation for stockholders.
Business Segment Highlights
Natural Gas Distribution
The natural gas distribution segment delivered net income of $111.8 million in the first quarter of 2022, compared to net income of $118.7 million in the first quarter of 2021. Coming off a record-setting first quarter in 2021, the natural gas distribution segment will benefit from new rates in Nevada in the second quarter of 2022 and anticipated rate relief in Arizona in early 2023.
Key operational highlights include:
- Finalized Nevada general rate case resulting in a continuation of the decoupling mechanism and rate relief effective April 2022, underscoring constructive relationship with the regulator;
- 38,000 new utility customers added during the past 12 months;
- Increased operating margin by $14 million compared to the first quarter in 2021;
- $141 million capital investment during the quarter; and
- $600 million of 4.05% 10-year debt financing completed in March.
Key drivers of the first quarter performance in 2022 as compared to first quarter performance in 2021 include:
- COLI results declined $4.7 million compared to the first quarter of 2021;
- O&M expense increased by $13.5 million compared to the first quarter of 2021 due to increased costs associated with customer support systems, employee benefits, insurance and other inflationary impacts;
- Increased depreciation expense of $3.4 million and increased interest expense of $4.4 million compared to the first quarter of 2021;
- Timing associated with rate relief:
- Nevada rate relief began in Q2 2022; and
- Arizona rate relief anticipated in early 2023.
Centuri / Utility Infrastructure Services
The utility infrastructure services segment had a net loss of $23.5 million in the first quarter of 2022, compared to a net loss of $0.9 million in the first quarter 2021. Infrastructure services results are typically seasonally lower in the first quarter. The first quarter 2021 results included $4.5 million of net income attributable to favorable timing in respect of a change order and selected larger gas projects. Centuri's performance was impacted by the inflationary cost environment and acquisition-related costs, as well as inclement weather in the upper Midwest and Eastern United States that delayed the start of certain large gas utility projects.
Key operational highlights include:
- Record revenues of $524 million, an increase of 44% compared to the first quarter of 2021 (13% organic business growth);
- $125+ million contracted off-shore wind support work to begin in second half of 2022; significant pending awards for multi-year performance;
- Cross-selling award of new 5G datacom work in the Southeast U.S. and new MSA contract for 5G datacom work in the Northeast U.S; and
- On track to meet full-year 2022 guidance.
Key drivers of Centuri's first quarter performance in 2022 as compared to first quarter performance in 2021 include:
- Higher fuel, equipment rental, and subcontractor costs;
- Higher interest and amortization expense; and
- Inclement weather in upper Midwest and Eastern U.S.
MountainWest
MountainWest reported $16.9 million of net income. MountainWest's results were impacted by $9 million of pre-tax, non-recurring expenses, primarily associated with one-time integration costs and payment of employee benefit costs associated with purchase and sale agreement obligations. After accounting for these non-recurring expenses, MountainWest results were in line with Company expectations. In addition, the Company has identified approximately $100 million of incremental growth investment opportunities over the next three years at MountainWest, which will provide future income growth.
Key operational highlights include:
- Finalized acquisition and related transaction equity financing;
- $67 million in recognized revenue; and
- Contributed $16.9 million to consolidated net income and $23.5 million on an adjusted basis.
Strategic Alternatives Review Process Update
The Southwest Gas Board is moving forward expeditiously with the previously-announced strategic alternatives review process in order to maximize value for all stockholders. Strategic alternatives under consideration include a sale of the Company or its underlying businesses, as well as a spin-off of Centuri, which the Board announced previously. The Board formed a Strategic Transactions Committee (the "Committee"), comprising independent directors with deep regulatory and M&A expertise and experience to lead the process: Anne Mariucci, Carlos Ruisanchez and Jane Lewis-Raymond. Andrew Evans, Russell Frisby, Jr. and Henry Linginfelter will join the Committee following the 2022 Annual Meeting of Stockholders.
The Committee has engaged an independent financial advisor, Moelis & Company LLC, to work with the Company's lead financial advisor, Lazard.
Conference Call and Webcast
Southwest Gas will host a conference call on Monday, May 9, 2022 at 6:00 p.m. ET to discuss its first quarter 2022 results. The associated press releases and presentation slides are available at https://investors.swgasholdings.com/investor-overview.
The call will be webcast live on the Company's website at www.swgasholdings.com. The telephone dial-in numbers in the U.S. and Canada are toll free: (866) 342-8588 or international: (203) 518-9865. The conference ID is 44121. The webcast will be archived on the Southwest Gas website.
Southwest Gas Holdings currently has three business segments:
Southwest Gas Corporation provides safe and reliable natural gas service to over 2 million customers in Arizona, Nevada, and California.
MountainWest operates over 2,000 miles of highly contracted, FERC-regulated interstate natural gas pipeline providing transportation and underground storage services in the Rocky Mountain region.
Centuri Group, Inc. is a strategic infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada.
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, without limitation, statements regarding Southwest Gas Holdings, Inc. (the "Company") and the Company's expectations or intentions regarding the future. These forward-looking statements can often be identified by the use of words such as "will", "predict", "continue", "forecast", "expect", "believe", "anticipate", "outlook", "could", "target", "project", "intend", "plan", "seek", "estimate", "should", "may" and "assume", as well as variations of such words and similar expressions referring to the future, and include (without limitation) statements regarding expectations of continuing growth in 2022. In addition, the statements under the heading "Outlook for 2022" that are not historic, constitute forward-looking statements. A number of important factors affecting the business and financial results of the Company could cause actual results to differ materially from those stated in the forward-looking statements. These factors include, but are not limited to, the results of the strategic review being undertaken by the strategic transactions committee of the Company's board of directors, the timing and amount of rate relief, changes in rate design, customer growth rates, the effects of regulation/deregulation, tax reform and related regulatory decisions, the impacts of construction activity at Centuri, whether we will separate Centuri and the impact to our results of operations and financial position from a separation, the potential for, and the impact of, a credit rating downgrade, the costs to integrate MountainWest, future earnings trends, inflation, sufficiency of labor markets and similar resources, seasonal patterns, the cost and management attention of ongoing litigation that the Company is currently engaged in, the costs and effect of stockholder activism, and the impacts of stock market volatility. In addition, the Company can provide no assurance that its discussions about future operating margin, operating income, COLI earnings, interest expense, and capital expenditures of the natural gas distribution segment will occur. Likewise, the Company can provide no assurance that discussions regarding utility infrastructure services segment revenues, EBITDA as a percentage of revenue, and interest expense will transpire, nor assurance regarding acquisitions or their impacts, including management's plans or expectations related thereto, including with regard to Riggs Distler or MountainWest. Factors that could cause actual results to differ also include (without limitation) those discussed under the heading "Risk Factors" in Southwest Gas Holdings, Inc.'s most recent Annual Report on Form 10-K and in the Company's and Southwest Gas Corporation's current and periodic reports, including our Quarterly Reports on Form 10-Q, filed from time to time with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its Web site or otherwise. The Company does not assume any obligation to update the forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
Non-GAAP Measures. This earnings release contains financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S. ("GAAP"). These non-GAAP measures include (i) adjusted consolidated earnings per diluted share, (ii) adjusted consolidated net income, and (iii) MountainWest adjusted consolidated net income. Management uses these non-GAAP measures internally to evaluate performance and in making financial and operational decisions. Management believes that its presentation of these measures provides investors greater transparency with respect to its results of operations and that these measures are useful for a period-to-period comparison of results. Management also believes that providing these non-GAAP financial measures helps investors evaluate the Company's operating performance, profitability, and business trends in a way that is consistent with how management evaluates such performance. Adjusted consolidated net income for the three months ended March 31, 2022 includes adjustments to add back expenses related to the MountainWest acquisition and expenses related to the ongoing proxy contest and related stockholder litigation. Management believes that it is appropriate to adjust for expenses related to the MountainWest acquisition because they are one-time expenses that will not recur in future periods. Management believes it is appropriate to adjust for expenses related to the proxy contest and related stockholder litigation because of these matters are unique and outside of the ordinary course of business for the Company. In addition, utility infrastructure adjusted net income and adjusted consolidated net income include adjustments associated with acquisition-related costs and partial-year net loss related to the Riggs Distler acquisition.
Management also uses the non-GAAP measure of operating margin related to its natural gas distribution operations. Southwest recognizes operating revenues from the distribution and transportation of natural gas (and related services) to customers. Gas cost is a tracked cost, which is passed through to customers without markup under purchased gas adjustment ("PGA") mechanisms, impacting revenues and net cost of gas sold on a dollar-for-dollar basis, thereby having no impact on Southwest's profitability. Therefore, management routinely uses operating margin, defined by management as gas operating revenues less the net cost of gas sold, in its analysis of Southwest's financial performance. Operating margin also forms a basis for Southwest's various regulatory decoupling mechanisms. Management believes supplying information regarding operating margin provides investors and other interested parties with useful and relevant information to analyze Southwest's financial performance in a rate-regulated environment. (The included Southwest Gas Holdings, Inc. Consolidated Earnings Digest provides reconciliations for these non-GAAP measures.)
We do not provide a reconciliation of forward-looking Non-GAAP Measures to the corresponding forward-looking GAAP measure due to our inability to project special charges and certain expenses.
Contacts
For investor information, contact: Boyd Nelson, (702) 876-7237, [email protected]; or Innisfree M&A Incorporated, Scott Winter/Jennifer Shotwell/Jon Salzberger, (212) 750-5833.
For media information, contact: Sean Corbett, (702) 876-7219, [email protected]; or Joele Frank, Wilkinson Brimmer Katcher, Dan Katcher / Tim Lynch, (212) 355-4449.
Reconciliation of non-GAAP financial measures of Adjusted net income (loss) and Adjusted diluted earnings per share and their comparable GAAP measures of Net income (loss) and Diluted earnings (loss) per share. Note that the comparable GAAP measures are also included in Note 7 - Segment Information in the Company's March 31, 2022 Form 10-Q. Prior periods are not presented below as comparable non-GAAP adjustments were not applicable in comparable periods of the prior year.
Amounts in thousands, except per share amounts
SOURCE Southwest Gas Holdings, Inc. | https://www.prnewswire.com:443/news-releases/southwest-gas-holdings-inc-announces-first-quarter-2022-financial-results-301543042.html | 2022-05-09T21:18:51Z | https://www.prnewswire.com:443/news-releases/southwest-gas-holdings-inc-announces-first-quarter-2022-financial-results-301543042.html | true | 20 |
FOSTER CITY, Calif. (AP) _ Geron Corp. (GERN) on Monday reported a loss of $30.1 million in its first quarter.
On a per-share basis, the Foster City, California-based company said it had a loss of 9 cents.
The drugmaker posted revenue of $123,000 in the period.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GERN at https://www.zacks.com/ap/GERN | https://www.registercitizen.com/business/article/Geron-Q1-Earnings-Snapshot-17160292.php | 2022-05-09T21:21:15Z | https://www.registercitizen.com/business/article/Geron-Q1-Earnings-Snapshot-17160292.php | false | null |
Catholic World News
Cardinal Pell questions ‘incomplete’ evidence from Becciu to Vatican court
May 09, 2022
» Continue to this story on Pillar
CWN Editor's Note: Cardinal George Pell, now 80, was Prefect of the Secretariat for the Economy from 2014 to 2019. Commenting on Cardinal Angelo Becciu’s testimony at a Vatican trial, Cardinal Pell sardonically said that Becciu offered “a spirited defense of his blameless subordinate role in the Vatican finances. However, his account was somewhat incomplete.”
The above note supplements, highlights, or corrects details in the original source (link above). About CWN news coverage.
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We use cookies to personalize content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media. See details. | https://www.tayyar.org/News/Lebanon/475507/ | 2022-05-09T21:28:27Z | https://www.tayyar.org/News/Lebanon/475507/ | true | 3126 |
ZAPORIZHZHIA, Ukraine (AP) — Pale and drawn, the last civilians sheltering in bunkers beneath a sprawling steel mill in the decimated Ukrainian port city of Mariupol arrived late Sunday night in Zaporizhzhia, the first major Ukrainian city beyond the frontlines.
The shattered survivors spoke of constant shelling, dwindling food, ubiquitous mold — and using hand sanitizer for cooking fuel.
Ten buses slowly pulled into Zaporizhzhia’s deserted streets under darkness, carrying 174 evacuees from the Mariupol area. They included more than 30 of the 51 civilians evacuated in the last day from the Azovstal steel mill, where an estimated 2,000 Ukrainian fighters are making what appears to be their last stand. Both Ukrainian and Russian officials have said these civilians are the last non-combatants from the industrial complex.
“It was terrible in the bunkers,” said 69-year-old Lyubov Andropova, who had been in Azovstal since March 10. “Water would run down from the ceilings. There was mold everywhere. We were worried for the children, for their lungs.”
The shelling was constant, and there was fear “that our bunker would collapse,” she said. “Everything shook, we didn’t go out.”
The seaside steel mill is the only part of Mariupol not under Russian control. Thanks to its warren of tunnels and bunkers deep underground, many civilians had chosen it as the safest place to take cover from the relentless shelling of the formerly thriving port city that has now been largely destroyed.
Just a few days after the war began on Feb. 24, Dmytro Sviydakov took shelter in the bunkers with his wife and 12-year-old daughter. They entered Azovstal on Feb. 27. It would be more than two months before they could leave.
Huddled in a bunker with around 50 to 60 people, the first month and a half was bearable, he said, but then the shelling intensified. A food storage area was blown up, and he and others resorted to scavenging, including searching through workers’ lockers. Fuel for cooking was scarce too, but then they discovered that hand sanitizer — well-stocked because of the coronavirus pandemic — was a good substitute.
“What can’t you do when you have nothing!” he said, as he waited for a bus that would carry Azovstal evacuees to temporary accommodations in Zaporizhzhia.
Yehor, a steel mill employee sheltering in the bunker who would only provide his surname, was in the bunker with his two sons, wife and their dog. He said that when food ran low, soldiers defending Azovstal helped.
“We wouldn’t have made it otherwise,” he said. “I don’t know how long we could have survived, but for sure we wouldn’t have survived until today.” In the last few days, they had just pasta, water and some spices left – enough for soup once a day.
His family entered the mill on March 1 for safety, he said, after he narrowly escaped being shelled while walking his dog.
Despite the widespread destruction of Mariupol, some of the 51 evacuated from Azovstal chose to remain in the city, said United Nations officials, who were involved in securing safe passage for the evacuees.
Two — a man and a woman — were detained by Russian forces. The woman, who was held on suspicion of being a military medic, had been traveling with her 4-year-old daughter. The mother and child were separated, and the little girl made it to Zaporizhzhia with the rest of the evacuees, U.N. officials said.
But several hundred more who wanted to join the evacuation convoy from other areas held by Russian forces had to stay behind after Russia and Ukraine failed to reach an agreement on their evacuation.
“It was quite heartbreaking to see them waiting and not being able to join us,” said United Nations Humanitarian Coordinator Osnat Lubrani.
“Overall within a period of 10 days we’ve been able to bring a total of 600 people in very complex, high-risk, very sensitive safe passage operations,” Lubrani said, adding that the U.N. hoped to be able to bring more civilians out in the future. | https://www.wearecentralpa.com/news/national-news/everything-shook-last-civilians-leave-ukraine-steel-mill/ | 2022-05-09T21:30:47Z | https://www.wearecentralpa.com/news/national-news/everything-shook-last-civilians-leave-ukraine-steel-mill/ | true | 30 |
SANTA BARBARA, Calif. (AP) _ AppFolio Inc. (APPF) on Monday reported a first-quarter loss of $14.3 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Santa Barbara, California-based company said it had a loss of 41 cents.
The property management software maker posted revenue of $105.3 million in the period.
AppFolio expects full-year revenue in the range of $452 million to $460 million.
AppFolio shares have decreased 18% since the beginning of the year. In the final minutes of trading on Monday, shares hit $99.75, a fall of 23% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APPF at https://www.zacks.com/ap/APPF | https://www.nhregister.com/business/article/AppFolio-Q1-Earnings-Snapshot-17160211.php | 2022-05-09T21:31:12Z | https://www.nhregister.com/business/article/AppFolio-Q1-Earnings-Snapshot-17160211.php | true | null |
New Jersey crowned top state MATHCOUNTS® team
WASHINGTON, May 9, 2022 /PRNewswire/ -- Allan Yuan, a 13-year-old eighth grader from Hoover, Alabama overcame 223 competitors, becoming the 2022 Raytheon Technologies MATHCOUNTS National Champion following an intense, elite competition at the Renaissance Washington, D.C. Downtown Hotel this weekend. As the National Champion, Yuan will receive the $20,000 Donald G. Weinert College Scholarship and a trip to the U.S. Space Camp.
Allan won the final round of the 2022 Raytheon Technologies MATHCOUNTS National Competition by answering the question: "From a group of 9 students, three separate teams are to be formed—one consisting of 2 students, and one consisting of 4 students. If each student must be on exactly one team, how many distinct sets of three teams are possible?" during the Countdown Round, in which the top 12 Mathletes competed in head-to-head matchups. He gave the correct answer, 1260, in just six seconds.
Calvin Wang, 13, of Fairfax, Virginia, was the Countdown Round Runner-Up and won a $7,500 scholarship. The remaining Countdown Round participants were:
- Shruti Arun, an eighth-grader from Greenwood Village, Colo.
- Evan Fan, an eighth-grader from Basking Ridge, N.J.
- Varun Gadi, a seventh-grader from Johns Creek, Ga.
- Rohan Garg, an eighth-grader from Pleasanton, Calif.
- Jiahe Liu, an eighth-grader from Beachwood, Ohio
- Liam Reddy, a seventh-grader from Holladay, Utah
- Alexander Wang, an eighth-grader from Millburn, N.J.
- Michael Wei, an eighth-grader from Gainesville, Fla.
- Boya Zhang, an eighth-grader from Reno, Nev.
- Liran Zhou, an eighth-grader from Jericho, N.Y.
In the team competition, New Jersey captured the title of First Place Team. Team members include:
- Evan Fan, an eighth-grader from Basking Ridge, N.J.
- Rithik Gumpu, an eighth-grader from Plainsboro, N.J.
- Maitian Sha, an eighth-grader from Princeton Junction, N.J.
- Alexander Wang, an eighth-grader from Millburn, N.J.
The Washington state team took second place, and the Texas team placed third.
Allan was among 224 competitors from all 50 states, plus U.S. territories and schools that serve the U.S. State and Defense departments, who traveled to the nation's capital after earning a spot in the national competition. Almost 25,000 students participated in local online and in-person events that led to this weekend's event, the 38th in the MATHCOUNTS Foundation's history. This is the first in-person National Competition since 2019 due to the pandemic. The event was hosted online in 2021.
This year's theme celebrated the field of space science, using the limitless nature of space to inspire participants to explore math's limitless possibilities. In addition to the competition, students attended an interactive Visible Infrared Imaging Radiometer Suite (VIIRS) presentation hosted by Julie Montoya, lead analyst at Raytheon Intelligence & Space.
"We are so grateful to be back in person to inspire and celebrate these young problem solvers," said Kristen Chandler, executive director of MATHCOUNTS. "I cannot wait to see how they use what they've learned in MATHCOUNTS to make their positive impact on the world."
This is the 13th year that Raytheon Technologies has served as title sponsor of the MATHCOUNTS National Competition as part of its global commitment to science, technology, engineering and math (STEM) education.
"Congratulations to Allan and all the competitors who embraced their love of math and participated in this year's MATHCOUNTS National Competition," said Tracey Gray, vice president, Communications and External Affairs for Raytheon Intelligence & Space, and MATHCOUNTS board member. "The last few years have been challenging for everyone, and it's impressive to see these students' resiliency and passion for problem solving. Their dedication and perseverance show they are on the right path to create the innovations of the future."
About MATHCOUNTS Foundation
MATHCOUNTS is a nonprofit organization that strives to engage middle school students of all ability and interest levels in fun, challenging math programs, in order to expand their academic and professional opportunities. Middle school students exist at a critical juncture in which their love for mathematics must be nurtured, or their fear of mathematics must be overcome. For more than 30 years, MATHCOUNTS has provided free, high-quality resources to educators and enriching, extracurricular opportunities to students to lay a foundation for future success. Materials and information are available at www.mathcounts.org.
About Raytheon Technologies
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.
Media Contact: Molly Gormley, [email protected]
SOURCE MATHCOUNTS Foundation | https://www.prnewswire.com/news-releases/allan-yuan-named-2022-raytheon-technologies-mathcounts-national-champion-301542934.html | 2022-05-09T21:34:44Z | https://www.prnewswire.com/news-releases/allan-yuan-named-2022-raytheon-technologies-mathcounts-national-champion-301542934.html | false | 10 |
BC Ferries Are About To Get Pricier This Summer & Here's What You Can Expect To Pay
You can thank the rising cost of gas for the increase. 😬
The cost of travelling with BC Ferries is about to get a little bit more expensive, and it's just another consequence of rising gas prices across the country.
BC Ferries has announced it will be implementing a higher fuel surcharge, starting in June — so if you're planning on taking a trip via ferry, be prepared to shell out some extra cash this summer.
In a press release on May 9, the company said that "due to current fuel market conditions," they are going to increase the current surcharge, from 1.0 percent to 2.5 percent, on June 1.
Luckily, this isn't a huge hit for the wallet.
In order to "manage the volatility in the price of fuel," BC Ferries said that they have been using fuel rebates and surcharges for the past 18 years.
Although the surcharge is not new, the record-breaking fuel prices are.
Despite investments made in order to reduce fuel consumption on the ferries, the soaring gas prices in the province — and across the country — have made the increased surcharge necessary.
The company specified that it "does not benefit financially from surcharges or rebates."
How much will you be paying
BC Ferries said that for the Metro Vancouver to Vancouver Island ferry routes, adults will be looking at a 0.45 cent surcharge. It will be $2 for a person driving a car onto the ferry, on that route.
For some inter-island routes, adults will have to pay 0.25 cents and drivers will pay $1.05.
Right now, there is no surcharge on the Port Hardy-Prince Rupert, Prince Rupert-Haida Gwaii and Port Hardy-Central Coast routes — but as of June 1, the 2.5 percent surcharge will also be implemented to them.
According to Gas Wizard, the price of gas for Vancouver drivers as of May 9 is 222.9 center per litre, for regular gas. | https://www.narcity.com/vancouver/bc-ferries-are-about-to-get-pricier-this-summer-heres-what-you-can-expect-to-pay | 2022-05-09T21:37:38Z | https://www.narcity.com/vancouver/bc-ferries-are-about-to-get-pricier-this-summer-heres-what-you-can-expect-to-pay | true | 1 |
ROCKVILLE, Md. (AP) _ Supernus Pharmaceuticals Inc. (SUPN) on Monday reported profit of $25.6 million in its first quarter.
On a per-share basis, the Rockville, Maryland-based company said it had profit of 43 cents.
The drugmaker posted revenue of $152.5 million in the period.
Supernus expects full-year revenue in the range of $640 million to $680 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SUPN at https://www.zacks.com/ap/SUPN | https://www.nhregister.com/business/article/Supernus-Q1-Earnings-Snapshot-17160272.php | 2022-05-09T21:38:05Z | https://www.nhregister.com/business/article/Supernus-Q1-Earnings-Snapshot-17160272.php | false | null |
NEW YORK (AP) — Brooklyn Nets guard Seth Curry had arthroscopic surgery on his left ankle Monday and is expected to be ready for training camp in the fall.
The Nets said the procedure was done by Dr. Martin O’Malley at the Hospital for Special Surgery and was successful.
Curry came to the Nets along with Ben Simmons and Andre Drummond in February in the trade that sent James Harden to Philadelphia. He experienced problems with the ankle down the stretch but played in 19 games and averaged 14.9 points while shooting 46.8% from 3-point range.
Simmons recently had surgery for a herniated disk in his back that kept him from playing at all for the Nets, among other reasons. He also is expected to recover in time for camp.
___
More AP NBA coverage: https://apnews.com/hub/NBA and https://twitter.com/AP_Sports | https://www.newstimes.com/sports/article/Nets-Seth-Curry-has-arthroscopic-surgery-on-left-17160384.php | 2022-05-09T21:40:58Z | https://www.newstimes.com/sports/article/Nets-Seth-Curry-has-arthroscopic-surgery-on-left-17160384.php | false | null |
Hifter a no-show for deposition accusing him of war crimes
ALEXANDRIA, Va. (AP) — A Libyan military commander who lived for decades in northern Virginia failed to show up for a deposition Monday in a federal lawsuit in which he is accused of war crimes.
Khalifa Hifter had been scheduled to appear for seven hours in a long-sought video deposition where he would be asked about his role in alleged extrajudicial killing and torture of Libyan civilians in the country’s decade-long civil war.
He is a defendant in three separate civil lawsuits in U.S. District Court in Alexandria. Hifter tried unsuccessfully to have the lawsuits tossed out, claiming immunity as head of state. Then, on the eve of his deposition last year, U.S. District Judge Leonie Brinkema put the lawsuits on pause, saying she wanted to ensure they were not being used to interfere with scheduled elections in the country.
Earlier this year, Brinkema reinstated the lawsuits after the elections were indefinitely delayed.
Hifter’s failure to appear Monday was confirmed by Esam Omeish with the Libyan American Alliance, which supports one group of plaintiffs, as well as by Mark Zaid, a lawyer representing another group of plaintiffs.
Monday was to be the day lawyers in all three cases were to be allowed to question Hifter to gather information relevant to their case. Lawyers met Friday at the federal courthouse in Alexandria to hash out the rules for conducting the deposition.
Over the weekend, though, Hifter said his official duties made it impossible to sit for a deposition and asked for a one-month delay, Omeish said.
Lawyers for the plaintiffs said that was unacceptable and said they will seek a default judgment against him for failing to appear.
Once a lieutenant to Libyan dictator Moammar Gadhafi, Hifter defected to the U.S. during the 1980s and spent many years living in northern Virginia, where he and his family continue to own extensive property, according to the lawsuits. He is widely believed to have worked with the CIA during his time in exile.
He returned to Libya to support the anti-Gadhafi forces that revolted against the dictator and killed him in 2011. Over the last decade, he led the self-styled Libyan National Army, which has controlled much of the eastern half of the country, with support from countries including Russia, Egypt and the United Arab Emirates.
A U.N.-supported government has controlled the capital in Tripoli, with extensive support from Turkey. A cease-fire between the warring sides in 2020 was supposed to lead to elections in December 2021, but they never occurred. Negotiations to set a new election date ended last month without success.
Hifter’s lawyer in the U.S., Jesse Binnall, did not immediately return an email Monday seeking comment.
By MATTHEW BARAKAT
Associated Press | https://www.mymotherlode.com/news/middle-east/2536829/hifter-a-no-show-for-deposition-accusing-him-of-war-crimes.html | 2022-05-09T21:41:15Z | https://www.mymotherlode.com/news/middle-east/2536829/hifter-a-no-show-for-deposition-accusing-him-of-war-crimes.html | true | 22 |
There are four NHL playoff games scheduled for Monday. The Colorado Avalanche lead their series 3-0 over the Nashville Predators, while the New York Rangers, Dallas Stars, and Washington Capitals are leading their respective series 2-1. Projected starting goalies courtesy of leftwinglock.com, and odds courtesy of betonline.ag.
Florida Panthers (-190) @ Washington Capitals (+171)
The Panthers are trailing 2-1 to Washington. In game three, the Capitals gave Ilya Samsonov his first start of the series and was fantastic in the process. He made 29 saves on 30 shots in a 6-1 Washington win. The Panthers meanwhile will counter with the inconsistent Sergei Bobrovsky.
New York Rangers (-111) @ Pittsburgh Penguins (-101)
The Penguins got some good news today as goaltender Tristan Jarry is back practicing after suffering an injury late in the regular season. At this time it is unlikely he will suit up for game four. That means Louis Domingue will get another start for the black and gold. The Rangers meanwhile will have Igor Shesterkin in their net.
Calgary Flames (-156) @ Dallas Stars (+141)
It is time we give Stars goaltender Jake Oettinger of Lakeville, Minnesota some love. Oettinger has outplayed Jacob Markstrom over the first three games of the series and is a major reason why the Stars are up 2-1.
Colorado Avalanche (-225) @ Nashville Predators (+201)
Even without Darcy Kuemper (eye injury), the Avalanche are expected to sweep the Nashville Predators in four straight games with Pavel Francouz in between the pipes. Nashville will go with Connor Ingram. | https://thesportsdaily.com/2022/05/09/nhl-starting-goalies-for-nhl-playoffs-round-1-game-4-may-9/ | 2022-05-09T21:41:49Z | https://thesportsdaily.com/2022/05/09/nhl-starting-goalies-for-nhl-playoffs-round-1-game-4-may-9/ | false | 1 |
PEKIN, Ill. (AP) _ Alto Ingredients, Inc. (ALTO) on Monday reported a first-quarter loss of $2.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Pekin, Illinois-based company said it had a loss of 4 cents.
The ethanol producer posted revenue of $308.1 million in the period.
In the final minutes of trading on Monday, the company's shares hit $4.92. A year ago, they were trading at $5.76.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALTO at https://www.zacks.com/ap/ALTO | https://www.myjournalcourier.com/business/article/Alto-Ingredients-Q1-Earnings-Snapshot-17160294.php | 2022-05-09T21:41:56Z | https://www.myjournalcourier.com/business/article/Alto-Ingredients-Q1-Earnings-Snapshot-17160294.php | true | null |
Phoenix Suns coach Monty Williams said the NBA should consider having a special section in the stands reserved for the families of visiting teams in the wake of Chris Paul's family being harassed during Sunday's playoff game in Dallas.
The incident happened during Game 4 of the Western Conference semifinals between the Dallas Mavericks and Suns.
ESPN reported that members of Paul's family had been harassed by fans and that some in the crowd made physical contact with them. The Mavericks said the fan was ejected.
"It's a hard one, because it's happening more and more," Williams said Monday at Suns practice. "The situations are getting to a place now where I really feel like families, who are there to support their loved ones, need to be protected a bit more. Whether or not we have to give these people a section, a suite, something has to be done.
"Because we can't wait for it to get to a level or two higher, before we do what we need to do. Yesterday was unnecessary."
The Mavericks said after the game that they were aware of the incident between a fan and Paul's family at American Airlines Center. Williams said he didn't know the extent of the harassment in real time because the game was still being played.
"It was unacceptable behavior and will not be tolerated," the Mavericks said in a statement. "The Mavericks, along with American Airlines Center, swiftly removed the fan from today's game."
After the game, Paul tweeted: "Wanna fine players for saying stuff to the fans but the fans can put they hands on our families." He also added an expletive.
Paul didn't speak to the media after Monday's practice.
Suns forward Cam Johnson said a similar situation happened in Milwaukee last season during the NBA Finals when his girlfriend was hit in the back of the head and had beer spilled on her. Johnson said he didn't hear about the incident until after the game.
"It was kind of a big scene," Johnson said. "It really frustrated me."
Johnson said security in Milwaukee handled the situation and that the fan was kicked out of the game. He said security can only do so much to keep families safe.
"A large part of the responsibility has to be on fans," Johnson said. "They just can't act that way. There's no other way around it. You've got to address the problem with the real problem. It's that a fan can't go up to someone's mother and harass them."
On Sunday, the Mavericks beat the Suns 111-101 and evened the best-of-seven series 2-2. Paul fouled out of the game in the fourth quarter. Game 5 is Tuesday night in Phoenix.
"I have to stress that I don't think this is indicative of the fans in Dallas," Williams said. "They're cheering for their team. I've never had this kind of incident at that arena, even going back to the old spot, Reunion Arena, never."
___
More AP NBA coverage: https://apnews.com/hub/NBA and https://twitter.com/AP_Sports | https://www.startribune.com/suns-coach-nba-should-consider-families-only-seats-at-games/600171624/ | 2022-05-09T21:43:07Z | https://www.startribune.com/suns-coach-nba-should-consider-families-only-seats-at-games/600171624/ | true | 12 |
70% of women have set aside money to afford feminine hygiene products & HALF still go over budget
SEVEN in 10 women have set aside money in their budget just to afford feminine hygiene products, new research suggests.
A survey of 2,000 American women found that although respondents reserve an average of $30 per month for sanitary pads, tampons, and other related products, 47 percent “always” or “often” go over budget.
Women in the Northeast reported having the hardest time affording feminine hygiene products, with 82 percent having to set aside extra money.
Members of the arts and entertainment industry were most likely to struggle with paying for these products (95 percent), while 78 percent of education professionals echoed this sentiment.
Conducted by OnePoll on behalf of Premom, the survey also found that 73 percent believe these essential items should be accessible at all costs.
Respondents think feminine hygiene products should especially be free of cost in high schools (39 percent), medical facilities (38 percent), and public restrooms (35 percent).
READ MORE ABOUT SHOPPING
Parents reveal 3 financial mistakes they don't want their kids to make
Another issue women face is lack of accessibility, with 46 percent saying they have trouble finding feminine hygiene products in stores.
Half of women in the Southeast said their convenience store doesn’t always carry these products, while just over half in the Northeast said that finding these products in department stores and drugstores can be difficult.
On average, women have to travel around six miles to secure the feminine hygiene products they need, and 83 percent stock up while they’re at the store to avoid another trip back.
That may be why seven in 10 said they always have feminine hygiene products at the ready, regardless of whether or not they need any themselves.
Most read in Fabulous
“Our results show that most women believe that access to affordable menstrual products is a basic necessity," said Sherry Liu, founder and CEO of Premom.
"With today's technological advancements in FemTech, women have the ability to better understand their menstrual cycle patterns so they could be more empowered taking care of their health."
"Educating women on the importance of tracking their cycles and consistently committing to do so can help adequately prepare them for fertility health care even with limited access to resources.”
More than two-thirds think it’s unfair that they have to pay for feminine hygiene products.
About half of all respondents believe federal and state governments should be responsible for providing free feminine hygiene products, with 45 percent saying the onus should be on doctors’ offices, hospitals and health clinics.
And nearly two-thirds believe that feminine hygiene products should be covered by health insurance.
"Period equity isn’t only financial," said Dr. Patti Haebe, Chief Medical Advisor for Premom.
"As a physician, I have significant concerns about related health issues, as attempting to use unapproved alternatives or extend the life of period products can potentially cause serious infections."
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Like us on Facebook at www.facebook.com/TheSunUS and follow us from our main Twitter account at @TheSunUS | https://www.thesun.co.uk/fabulous/18514476/70-of-women-have-set-aside-money-to-afford-feminine-hygiene-products-half-still-go-over-budget/ | 2022-05-09T21:43:56Z | https://www.thesun.co.uk/fabulous/18514476/70-of-women-have-set-aside-money-to-afford-feminine-hygiene-products-half-still-go-over-budget/ | false | 4 |
ICON Public Limited Company (ICLR) CEO Steve Cutler on Q2 2021 Results - Earnings Call Transcript
ICON Public Limited Company (NASDAQ:ICLR) Q2 2021 Earnings Conference Call July 22, 2021 9:00 AM ET
Company Participants
Jonathan Curtain - Vice President, Corporate Finance and Investor Relations
Brendan Brennan - Chief Financial Officer
Steve Cutler - Chief Executive Officer
Conference Call Participants
Sandy Draper - Truist Securities
Elizabeth Anderson - Evercore
Erin Wright - Credit Suisse
John Kreger - William Blair
Eric Coldwell - Baird
David Windley - Jefferies
Tycho Peterson - JP Morgan
Jack Meehan - Nephron Research
Luke Sergott - Barclays
Donald Hooker - KeyBanc Capital
Patrick Donnelly - Citi
Juan Avendano - Bank of America
Ann Hynes - Mizuho
Dan Leonard - Wells Fargo
Operator
Good day and thank you for standing by. Welcome to ICON PLC Quarter Two Results Call. At this time, all participants are in a listen-only mode. [Operator Instructions]
I'd now like to hand the conference over to your speaker today, Jonathan Curtain. Please go ahead.
Jonathan Curtain
Thank you very much. Good day, ladies and gentlemen. Thank you for joining us on this call covering the quarter ended June 30, 2021. Also on the call today, we have our CEO, Dr. Steve Cutler; and our CFO, Mr. Brendan Brennan. I would like to note that this call is webcast and that there are slides available to download on our website to accompany today's call.
Certain statements in today's call will be forward-looking statements. These statements are based on management's current expectations and information currently available, including current economic and industry conditions, actual results may differ materially from those stated or implied by forward-looking statements due to risks and uncertainties associated with the company's business, and listeners are cautioned that forward-looking statements are not guarantees of future performance.
Forward-looking statements are only as of the date they are made. We do not undertake any obligation to update publicly any forward-looking statements either as a result of new information, future events or otherwise. More information about the risks and uncertainties relating to these forward-looking statements may be found in SEC reports filed by the company.
This presentation includes selected non-GAAP financial measures. For a presentation of the most directly comparable GAAP financial measures, please refer to the press release statement and the condensed consolidated statements of operations U.S. GAAP unaudited. While non-GAAP financial measures are not superior to or a substitute for the comparable GAAP measures, we believe certain non-GAAP information is more useful to investors for historical comparison purposes. We'll be limiting this call today to one hour we therefore ask participants to keep their questions to one each with an opportunity to ask one related follow-up question.
I would now like to hand over the call to our CFO, Mr. Brendan Brennan.
Brendan Brennan
Thank you, Jonathan. In quarter two ICON achieved growth business wins of $1,316 million and recorded the $210 million worth of cancellations. Consequently, net awards in the quarter were a record $1.1 billion, resulting in a net book-to-bill of 1.27 times and a trailing 12-month net book-to-bill of 1.34 times. With the addition of these new awards, our backlog grew to a record $10.2 billion. This represents a year-on-year increase of 12.7%.
Revenue in quarter two was $871.2 million. This represents a year-on-year increase of 40.5% or 37.5% on a constant currency basis and CDO basis. Our top customer represented 12.7% of revenue for the quarter compared with 12.1% in quarter two 2020. Our top five customers represented 40.9%. Our quarter two revenue in line with last year. Our top 10 represented 54.2% compared to 54.9% last year, while our top 25 represented 72.4% compared to 71.3% last year. Of note on a combined company basis, our largest customer in quarter two would have been 7.3% of revenue.
Gross margin for the quarter was 27.6% compared to 27% last quarter, and 28.1% in the comparable quarter last year. And our adjusted SG&A was 10.3% of revenue in quarter two, which compared to 10% last quarter and 13.5% in the comparable period last year.
Adjusted operating income in the quarter -- in quarter two was $142.9 million, a margin of 15.3%. This compared to 15% last quarter and 12.1% in comparable quarter last year. The adjusted net interest expense was $2.2 million for the quarter. And the adjusted effective tax rate was 13% for the quarter.
Adjusted net income attributable to the Group for the quarter was $113.2 million, a margin of 13% equating to the diluted per share of $2.12. This compares to the earnings per share of $2.06 in quarter one 2021 and $1.20 in the comparable quarter last year. During the company -- during the quarter, the company recorded $42.1 million of transaction and integration related costs.
U.S. GAAP income from operations amounted to $112.9 million or 13% of revenue. U.S. GAAP net income attributable to the Group was $73.9 million or $1.38 per diluted share compared to $0.90 per share for the equivalent prior year period.
Included in the press release and the earnings slides, you will note that we included adjusted earnings per share of $4.46 for the first of the year. This excludes stock compensation expense, amortization, and transactional related costs and their respective tax benefits. As a consequence, we estimated the adjusted effective tax rate for H1 2021 was 15.2%. In addition, with respect to our guidance, we expect the fully diluted share count to be approximately 83.7 million shares for the second half of 2021.
Net accounts receivable was $417.4 million at 30th of June, 2021. This compares with a net accounts receivable balance of $465.6 million at 31 March, 2021. On a comparative basis, days sales outstanding were 35 days at June 30th, 2021 as compared with 39 days at the end of March, 2021 and 53 days at the end of June, 2020. Cash generation from operating activities in the quarter was $128.4 million.
At June 30th, 2021, the company had a gross cash balance of $1,057 million and cash [ph] of $350 million leaving a net cash balance of $707 million. This is compared to net cash of $595 million at March 31st, 2021 and net cash of $244 million at June 30th, 2020. Capital expenditure during the quarter was $12.9 million.
As you know, the PRA acquisition was funded through a combination of cash equity and debt. Over the course of May and June, we engaged with Capital Markets to secure long-term financing, resulting in a number of outcomes worth sharing. The first relates to our credit rating status, where we achieved a double B plus and Ba1 ratings from S&P and Moody's, respectively. This represents only at one notch decrease from both agencies relative to our previous investment grade position, and we remain one of the highest rated CROs in the industry.
Secondly, we had a very positive process raising the $6 billion of debt required to finance the transaction. This was broke into two instruments, $5.5 billion of floating term loan B notes over a seven-year tenor and $0.5 billion fixed high yield bond over a five-year tenor. Our term loan B offering was oversubscribed in excess of two and a half times, having us to secure an all-in rate of 3%. Demand was also very high for our high yield bond, with subscriptions of over $3 billion, helping us to secure a rate of just 2.875%. This all means we will have a current blended interest rate of just below 3%.
The finance structure will allow us to maximize repayment of [ph] debt to do that more quickly. We completed the transaction with a debt to adjusted EBITDA and inclusive of synergies ratio of approximately 4.2 turns, what our global -- sorry -- with our goal to reach 2.5 times adjusted EBITDA by the end of 2023. In addition to this long-term debt, we increased our revolving credit facility from $150 million to $300 million. This facility is currently undrawn.
Before I hand over to Steve, I'd like to make you aware of a change in our Investor Relations department. Jonathan Curtain, who has led this function for over four years, will transition out of the IR role to lead our commercial finance team alongside his existing responsibilities as Head of our Corporate Finance Group. I'm pleased to announce that Kate Haven, who was moving across from our corporate development team, will succeed Jonathan as Vice President of Investor Relations. Jonathan will be working closely with Kate to ensure smooth transition. And I wish them both the very best of luck in their new roles.
And so with all of that said, I'd like to hand the call over to Steve.
Steve Cutler
Thank you, Brendan and good day, everyone. On July, the 1st, we were delighted to close ICON's acquisition of PRA. This transaction brings together two high quality, innovative, growing organizations with similar culture and values to become the world's leading healthcare intelligence and clinical CRO. With the addition of PRA, the new ICON will create a novel paradigm for bringing clinical research to patients, offering expanded capabilities and solutions to customers, while delivering significant value to shareholders.
The environment created by the COVID-19 pandemic has presented the industry with an opportunity to accelerate changes in the clinical monitoring process. The need for a more flexible and efficient approach to clinical monitoring and data review has emerged, and this demand will fundamentally change the way in which trials are conducted going forward.
A key milestone for ICON was the manner in which we help deliver the first COVID vaccine to the market in record time, applying this agile and flexible framework to our clinical monitoring model. Our ability to execute these large scale projects has resulted in a very healthy level of business wins in this area. And during the first half of this year, both ICON and PRA both saw the influence of these vaccine trials on our revenue, with a higher proportion of pass-throughs relative to non-COVID work. As we progress through the remainder of the year, we expect our pass-through mix to begin to return to a more normalized level.
In parallel, we have seen an increased shift from traditional to hybrid models, and we are excited about future opportunities in a decentralized trial space. The industry is poised for transformational change. We are now in a position of significant strength, with the combined market-leading skillsets and resources of both PRA and ICON.
Moving forward, the new ICON will provide our customers with the integrated solutions required to execute on these novel delivery models, while making it easier for patients to be part of clinical development.
Successful decentralized trials require mobile site and patient-centric technology to support telemedicine, site resources to ease the investigator and patient burden, in-home services to patients, central labs to process and manage testing, and also direct-to-patient capabilities to enable drug distribution and management. I believe the new ICON is in the unique position to be able to integrate these key components to create compelling and differentiated solutions for customers. Both ICON and PRA have long histories of individual company success. And collectively, we will be much stronger than the sum of our parts.
Our goal is to create the world's leading healthcare intelligence CRO, where customers will benefit from our broader service offerings and geographic footprint, deeper therapeutic expertise, expansive healthcare technology, innovation, and functional talent and capabilities.
Integration activities are well underway and functional team from both legacy organizations are collaborating well to ensure we have a seamless transition to a single company. As we integrate our day-to-day focus remained on business continuity and the execution and delivery of our customers' clinical projects.
The complimentary nature of our services will also prevent -- present revenue synergies across our broader customer base. Already, we are seeing interest from customers in the new ICON, with positive, strategic partnership discussions being initiated and cross-selling opportunities being generated in areas such as central and specialty labs, the Accellacare site network, Home Health Services and Imaging.
We are also actively pursuing our cost synergy target of $150 million and have already announced internally the consolidation of a number of offices that are situated in similar locations. This will not only drive P&L benefits, but will also help our teams to do their best work, as we returned to the office post-pandemic.
As the marketplace continues to evolve, it will be important to remain focused on innovation that facilitates our core mission of getting drugs and devices to market faster. Our new partnership with Allscripts Veradigm aims to create the industry's leading HER-based clinical research network that reaches more than 25,000 physicians and 14 million patients across the United States.
Using Veradigm StudySource platform, which extends existing EHR systems to include clinical research, alongside our proprietary eSource technology and clinical research expertise, this network will enable physicians to offer clinical research as a care option to their patients, driving efficiencies across the trial process and increasing patient accessibility and diversity in clinical trials.
In addition, we have seen growing interest from sponsors in clinical trial tokenization. Tokenizing enrolled clinical trial patients enables them to be followed within a real world data setting in a deidentified manner, increasing our ability to identify long-term outcomes and improving our reporting of key follow-up data to sponsors and regulatory authorities.
New ICON is the only organization that has implemented a customer-friendly environment of multiple tokens to allow for linkages to a vast data ecosystem in a compliant and secure end-to end-approach.
Through our Symphony asset Sonoma, ICON has data and analytic resources and expertise to translate tokenized patient populations into actionable information for clients, which will support their ongoing product development, registration and pricing goals. Current customers include three of the world's top 15 pharma companies since initial launch in May, 2021 are utilizing the benefits about partnerships. Alongside our existing capabilities, we can deliver truly differentiated trial solutions to meet growing customer needs and positively impact clinical trial development.
As we integrate these key components into our patient, site and data strategy, we will be able to provide a compelling set of solutions to customers that will accelerate patient recruitment and retention, increase participant diversity and shorten clinical trial timelines. Ultimately, our goal is to create a sustainable competitive advantage over the medium to long-term by actively investing and leading in the space where clinical development is heading.
On a standalone basis during the quarter, ICON increased net business wins to a record 1.1 billion, delivering a quarterly book-to-bill 1.27 and growing our backlog to $10.2 billion, an increase of 12.7% year-on-year. Revenue grew 41% to $871.2 million, and adjusted earnings per share increased by 77% to $2.12.
We were also delighted to see strong PRA business wins for the quarter of nearly $1.2 billion and a net book-to-bill of 1.21. This helps build momentum for the rest of the year and beyond, and demonstrates our customers' confidence in the new ICON's continued operational performance and our commitment to delivering hard and innovative patient-centric solutions.
We expect to create significant long-term shareholder value by combining revenue growth from enhanced service offerings, innovative solutions, and increase scale with our best-in-class global support services model. As a result of this acquisition, we are updating our 2021 outlook with revenue guidance in the range of $5.3 billion to $5.5 billion, and adjusted earnings per share guidance in the range of $9.10 to $9.50.
Before moving to Q&A, I would again like to welcome our PRA colleagues to the new ICON and thank all of our teams for all their hard work and commitment during the quarter.
Operator, we're now ready for questions.
Question-and-Answer Session
Thank you. Ladies and gentlemen, we will now begin the question-and-answer session. [Operator Instructions]
Your first question comes from the line of Sandy Draper from Truist Securities. Pleaseyou’re your question.
Sandy Draper
Thanks so much and congratulations on a strong quarter, and also getting the deal done. My question an issue and really on the financial side. Brendan, you talked about your targets for delevering, but when I think about it, do you have a target for like a percentage of free cash flow to delever, or is it going to be -- what's sort of the pacing we should be thinking about in terms of that deleveraging?
Brendan Brennan
Yeah. Sandy, I called it on the prepared remarks there. Obviously, we want to try to get up to about 2.5 times debt-to-EBITDA by the end of 2023. So, we'll stay focused on that, in that interim period. So, you've got 2022 and 2023 where save really opportun -- small acquisitions or small elements supply back. We'll definitely be looking at most of our cash going towards getting to that target, Sandy, in that timeframe. So, it'll be like -- we haven't set an exact percentage of free cash flow, but certainly a very high percentage until we get off to that leverage point. And from that point on it, then, of course, it will be much more about managing desks at that level and really using our cash resources to continue to build out the organization, as we know, we will still have to do.
Sandy Draper
Okay. Thanks Brendan. And my follow-up is also financially related. Now, let -- I'll let others ask the smart strategic questions. Are there any future transaction costs that on a cash basis over the next quarter or two, or you pretty much done with the one-time charges in cash charges for the transaction?
Brendan Brennan
Yeah. Most of that, I'd like to say, have done. Sandy, that’s just unfortunately not true. We will take more cash expenses in the third quarter, but the vast majority will be taking the care off by then. So, there still will be a chuck enough number to go, not the similar certainly, and maybe even a little higher in the third order that we saw in the second quarter after that where our majority done.
Sandy Draper
Okay. Great. Thanks so much.
Operator
Your next question comes from the line of Elizabeth Anderson from Evercore. Please ask your question.
Elizabeth Anderson
Hi, guys. Thanks so much for the question and congratulations on the transaction coming to completion. I was just wondering on two things. Could you talk about one, any update on thoughts on some of your larger overlapping clients and sort of their feedback, and any early potential combined win? And then two, could you also speak to staff retention and the broader integration efforts from internal perspective?
Steve Cutler
Yeah. Sure, Elizabeth. In terms of overlapping clients, I think we've been public before, and that we do have one or two that overlap to a reasonable degree. We've had a number of discussions with those customers and those discussions have been very positively received to the point. We're not -- we're seeing less risk in those customers than perhaps we had anticipated before, as we contemplated the transaction. So, in a number of circumstances, number of areas that I'm involved in, we've had those discussions. They're in a good place. We -- both companies are delivering well for those customers and they're looking to combine the offering and to make sure that we continue as a key part of those customers.
So, it's been, in general, very positive. And as I alluded to in my comments as well, we've been -- we've had a number of strategic discussions with customers who neither company has had a particularly strategic relationship with over the past few years. And they are also interested in what the combined entity can bring as well. So, net-net, very positive in terms of a particularly large pharma companies and biotechs as well. It's been a strong, positive customer response right across the board, almost uniformly.
In terms of staff retention, attrition, we certainly seen a little bit of a tickup in retention -- in attrition of staff over the last -- it's probably the last 12 months really. It's certainly not necessarily, I don't believe, directly related to the transaction. It -- we believe the labor market, particularly in the United States is pretty hot at the moment and quite frankly, the labor market across the world is kind of restructuring as we come out of this pandemic.
So, I think there are a lot of moving parts going on in this -- in the labor market as such. And we've seen a little bit of an uptick when we're addressing it. There are various plans we have in place to bring new graduates in to people career paths to obviously to make sure we're paying market salaries, et cetera, et cetera. I think you'll find a same uptick in attrition with our competitors as well.
I don't think it's just related to ICON or what we've done. And I certainly don't think it's directly related to the acquisition or to the transaction. It's something that we're seeing across the industry as there's a lot of money is being spent in clinical development. So, we're not just competing with other CROs for staff. We're competing for -- with pharma companies and biotech companies as well. So, it's consequences of the market, the growing market and the availability of capital to develop drugs. And then that's -- so we can't complain about the business development wins being strong and attrition being higher at the same time, you have to probably be take one with the other as well.
Elizabeth Anderson
Got it. That's very helpful. Thank you.
Steve Cutler
Okay.
Operator
Your next question comes from the line of Erin Wright from Credit Suisse. Please ask your question.
Erin Wright
Great. Thanks. As it relates to your guidance, what are some of the key changes relative to your prior expectations for each standalone business on more operational basis in terms of what's implied in the outlook for the second half of the year? Have there been any meaningful changes on that front since you just gave it on a combined basis? Thanks.
Brendan Brennan
Not meaningful, Erin. I think the operational companies are both moving in a strong direction to the second half of the year. We kind of outlined that. There are other elements, of course, in terms of numbers of -- the stock count, I made reference to the fact that we'd be about 83.6 million or about 83.7 million shares, my apologies, in the second half of the year that obviously has a bearing on the EPS number. But the underlying operating income and EBITDA are moving solidly in both organizations in the right direction. And we're pleased with that and that we'll see good uptake quarter-over-quarter and indeed year-over-year.
So, I think, predominantly, we're moving the right direction. We'll start to see some of the synergies impacting, but the work we're doing around synergies it's for the long-term, of course. And we're putting the steps in place now that will really benefit over the next number of years. And, of course, a little bit this in the first six months, but certainly more thinking about 2022 and 2023 in that regard. So, a strong operational performance rolling forward into Q3 and Q4.
Steve Cutler
I think the only thing I'd add to that Erin is, we've been involved as have PRA, as I said, with the larger these vaccine trials, which have had a significant pass-through element in the first half of this year. Those studies are coming towards their end. Now, we've still got -- still a lot of COVID work. It was a significant part of our business wins this quarter. But the big -- those big pass-through studies it'd be vaccines, those are probably coming towards the end of it now, which is sort of attenuating a little bit the very rapid growth in revenue we've seen over the last couple of quarters. So, that's the only thing that I think would probably played into our guidance a little bit as well.
Erin Wright
Okay. Great. And that goes right into my second question, which is, could you provide a little bit more detail on the COVID-related awards to date at each of the businesses, or on a combined basis and the percentage of revenue kind of in the quarter associated with COVID-related work? And I guess, you've commented already on sort of the dynamics throughout the year, but if you could give us a little bit of color on the COVID trends on that front, that'd be helpful.
Steve Cutler
Yeah. In terms of new COVID opportunities coming in, that's sort of flattened off a little bit, but it's still in the vicinity -- now high teens in terms of our RFPs. So, it's still a significant proportion of our work. There's no COVID cliff, I suppose, is the overall message here. It's a high teens on RFPs. New business, it's a little bit higher than that. And on our backlog, it's in the high -- mid single digits.
So, it’s a -- COVID work continues to be an important part of our portfolio. It's not going away. As I say, the big vaccine trials, those days are probably coming towards an end, but we're moving more towards treatment trials, diagnostics. There's long-term follow-up trials. There's different patient population trials in the vaccine space. And so that work, I -- as I said before, it's going to continue for another couple of years, I think, and who knows with variants and all the rest of it coming through, booster -- the requirement or potential requirements for boosters, that may also impact it as well. But it's certainly been a very positive environment from COVID work. And even in the non- COVID work, we've seen a significant uptick in our RFPs as well. So, if the COVID sort of RFPs have been flattening off a little bit, the non-COVID RFPs have been growing quite substantially to replace that. So, it's a positive business environment.
Erin Wright
Okay. Perfect. Thank you.
Operator
Your next question comes from the line of John C. Kreger from William Blair. Please ask your question.
John Kreger
Thanks very much. Steve, I know you're calling the new company the world's leading healthcare intelligence company, clinical CRO. Can you just expand a little bit on the healthcare intelligence part? Are we thinking about that primarily is that the legacy PRA/Symphony business, or broader? Just tell us what you're really thinking about with that part of the tagline? Thanks.
Steve Cutler
Yeah. It's a good question, John. I mean, we are thinking about the data component of that and -- but not just the data, it's the way we use the data and the way we are able to analyze and do things differently than the way we interpret that data. Symphony is an important part of it. I talked a bit about tokenization. We think that's a very important part of being a healthcare intelligence organization, being able to track patients in a deidentified and compliant manner in the long-term. If we've been able to do that on the vaccine portfolios, we'd be able to answer a lot of the questions that are only really coming up now, do we need another booster? What's the timeframe for the immune response to wear out?
So, that sort of intelligence, and that sort of information that allows us to make insightful decisions and take actions, and support, not just the ongoing registration of our sponsors' products, but their development of those products in different indications and the pricing of those products, as we see the value of those products and how they're helping people in the -- in society on a real world evidence basis.
So, Symphony is a big part of it. We've talked a lot about our one view tool and how we're using that to identify the right sites. And so, like sites, our patient approaches where we're going directly to patient and gathering that sort of data are wearables at DC. It's a variety of things around our patient site and data strategy, but the intelligence side of things is really using technology and data in a way that's perhaps a little bit more nuanced and a little bit more insightful than it has been used in the past, and allowing us to ultimately deliver trials in a different way, much more effectively and efficiently.
John Kreger
That’s great. Thank you. And maybe a quick follow-up to Elizabeth's question about staff. Do you -- does this change you’re thinking at all on margins going forward, or are you able to pass higher labor costs along in your bids?
Steve Cutler
There's certainly a little pressure on the wage line. And we need to compete actively in the marketplace. And as I've said, it's a very active marketplace at the moment. So, in the very short-term, we might get a little pressure there. I think we can handle that. We certainly got causes within our contracts that allow us to adjust our pricing on the basis of inflation. And importantly, I think it's also supercharging our efforts to move to that more efficient model where we're doing more offsite monitoring, more remote patient monitoring and allowing our staff to be more efficient to allow them to gain a better work-life balance, essentially, rather than being on a plane and going to sites physically all the time that they're able to do a fair bit of their work at their desk on their computers, because we can do -- we can monitor the studies remotely. It's really moving those efforts fast. And I think our sponsors are also buying into that.
So, as we sort -- it's what we did during the pandemic, and we got some talents from that. This is labor market is also helping that as well. So, we believe that will help us to offset any challenges we have from a wage inflation and cost perspective, certainly in the medium to long-term. And the short-term, we're working that through and we think we can handle it. But there are opportunities -- there are always opportunities in these sorts of things as well. And I think that's certainly one of them.
John Kreger
Sounds good. Thank you.
Operator
Next question comes from the line of Eric Coldwell from Baird. Please ask your question.
Eric Coldwell
Thanks very much. A couple -- I have a few, but I think they're hopefully pretty quick. First one, in the prepared remarks, you said your largest customer on a pro forma basis was 7.3%, I think you said of revenue in the quarter. Were you specifically citing ICON's largest customer would be brought down to that level, or looking across the spectrum of both companies, the largest customer would be 7.3%?
Brendan Brennan
That's across the spectrum of boat companies, Eric. So, that's our new customer base. The top customer of that new customer base would be 7.3%.
Eric Coldwell
That's great. Second one, I'm hoping you can give us your thoughts on tax rate in the second half.
Brendan Brennan
Yeah. We said we'd start off it in around the ballpark of 17% and work our way down from that, Eric. We haven't changed our mind -- mindset on that one. So, we're -- at this stage, we'd be thinking 17% for the second half of 2021.
Eric Coldwell
Okay. And next one, don't know if you have this or you're able to share it. The PRA historically provided service level bookings, kind of a unique approach. They did transition and start adding in full bookings about a year ago. But I'm curious if you would have that number at hand, just for comparable purposes for those of us who were tracking PRA in the past?
Brendan Brennan
Not at hand, Eric. My feelings on this one, I'm a great believer in there's only one type of revenue and there's only one type of booking, which is the 606, my apologies. So that's where we'll be looking at as we go forward.
Eric Coldwell
Okay. Thanks very much. I appreciate it.
Operator
Next question comes from the line of David Windley from Jefferies. Please ask your question.
David Windley
Hi, thanks. Good morning. Good afternoon. Thanks for taking my questions. Several questions I've kind of gotten at the point of the demand environment, but I was hoping you could perhaps add a little bit more color to, not just RFP trends, but maybe also how your hit rate has evolved if that stayed relatively stable or changed at all?
And then within that, there was mentioned in the prepared remarks, Steve, about hybrid models. I'm wondering what you're seeing within the RFPs, or maybe -- RFPs you're seeing, or maybe the bid you're submitting. If you're being more proactive about it with hybrid and DCT type approaches to your study, how is that creeping into the RFP front?
Steve Cutler
Sure. David, let me start with the RFPs. I think as I indicated, it's been and continues to be a very positive environment, not just in the biotech space, but right across the spectrum and right across the segments that we operate in large pharma, biotech, midsize, we're all in the high-teens in terms of annual increase in RFP dollars. So, it's -- couldn't be happier with the way that's moving forward. I think -- then -- and I think that's really across both organizations. ICON, certainly seeing that. And as we've seen PRA also have seen a similar sort of mid-teens sort of increases across in their RFP. So, again, we've both seen that. I think that's evidenced in the awards.
In terms of hit rate, I was pleased. Actually, as I looked at this morning to see an uptick in the hit rate on a dollar basis, again, across the spectrum, particularly in our late stage business and our early stage business, and this is ICON standalone. I don't have the detail for PRA at this stage. But in our Accellacare Home Health, we've seen an uptick in our win rates and our strike rates. So, again, that's all with the increased numbers of opportunities, increased hit rates has really put us in a pretty good position. I think it really does speak to the confidence that our customers have in our ability to execute, but also our ability to make this integration go well.
In terms of hybrids and hybrid trials, we're certainly seeing a lot of interest in that. There's a lot -- as you would well know, there's a lot of talk and there's a lot of discussion around how these trials work and how they're operating going forward. I would say that almost the majority of the trials we propose at the moment have some sort of hybrid sort of component, whether it be a remote monitoring sort of component or a wearable technique, or a data collection area that relates to direct-to-patient sort of mode. So, they are very much hybrid and hybrid goes from one end of the spectrum, right up to the other, really down the decentralized trial, and that there's a lot in between.
But the vast majority, I'd say, of trials that we propose really do have some sort of hybrid component or some sort of decentralized component now, which we find positive. It gives us something to build on, and it gives us an opportunity to deliver that component of the trial and then build on it for the next one to become a more a hybrid or even a more fully decentralized sort of approach. So, it's -- again, our customers are very much aware of it and very much open to those discussions and particularly where it makes their trials and their budgets more efficiently spent. They feel confident that we can deliver those sorts of trials.
David Windley
That sounds encouraging. Thank you. My follow-up question kind of related to that, you mentioned in your prepared remarks, also you touched on a number of the areas, where cross-selling is an opportunity. It seems to me that some of those might be a little -- the ability to go-to-market and offer those services.
For example, central labs to PRA client base might be more immediate, whereas perhaps the integration of some of the technology capabilities and the DCT trial approach might require a little bit more integration and development before your go-to-market strategy might be ready. I wondered if you agree with that. Or if you could give us a sense for how immediately you might see some revenue synergy opportunities for some things versus others.
Steve Cutler
I would say, I do broadly agree with what you just said, Dave. We certainly seen already some wins on the lab front, and revenue starting to flow into, and I would -- certainly in the second half of the year, we'll see revenue starting to flow from those immediate opportunities, language services, imaging labs that's happening. We have an expectation of around $100 million in revenue synergies on a run rate, annual run rate basis. And I think we're well on our way to that. And I'd like to think we can potentially exceed it.
In terms of the mobile health platform and some of the decentralized, you're right. I mean, those things are going to take a little bit more time to come into play. We're working very hard to build our unified platform. We have a number of platforms, but those are moving forward and changing and we're investing significantly in those platforms and having discussions with couple of -- these things always take a little bit of time.
But we believe as we get towards the end of this year and the next year, we're going to have our unified platform ready to go, which will then replace the current platform that we have and will allow us to, again, further integrate various aspects of our capabilities and resources into that decentralized approach. That will take a little longer, no question about that. But it's not years away. It's certainly, I think, within the next 12 months, we'll be very active in that space in terms of implementing that sort of totally decentralized approach.
David Windley
Excellent. Thank you. Very helpful.
Operator
Your next question comes from the line of Tycho Peterson from JP Morgan. Please ask your question.
Tycho Peterson
Hey, thanks. Steve, I'm going to follow-up on that kind of last line of questioning. It's great to hear about the revenue synergies and then kind of a hit rate. I'm just curious, what's really resonating as you're out talking to customers. If we think about the third of the top 20 pharma customers, you don't currently do business with. As you go to kind of pitch to them, is it scale? Is it the new capabilities you bring to the table? Can you just talk a little bit about what's kind of resonating?
And then another angle that you talked about at the time of the deal was, accelerated patient recruitment through the Accellacare network. How are you thinking about doing that as well?
Steve Cutler
Sure, Tycho. I'd say, as we talk to customers -- I mean, it's all of those things that they want to talk to us about. Obviously, it's -- there's usual scale capabilities, resources, therapeutic depth and breadth, et cetera, et cetera, is important to them. You have to be there and we have that, but I think increasingly they're also interested in Accellacare Home Health network, the Accellacare site network, which gives us a different slant on how we bring patients to their clinical trials and then on our decentralized approach is as well. The tokenization is creating a lot of interest around -- for some of these strategic discussions. The decentralized trials and the mobile health platform that we're developing is also creating a lot of interest. They're interested to hear what we're doing in that respect.
So, it's a combination of the usual sort of scale and resources and capabilities, but increasingly also the technology, the data opportunities we're bringing and the ability to really put together a solution that's highly integrated in that clinical space. I think that's what's got our customers, particularly the larger ones, very excited about the new offering.
In terms of Accellacare, the network -- the sites, it's fitting in nicely with our decentralized trial approach. We don't believe there's any -- on the decentralized trials you have -- there's still going to be sites involved. You still have to have that. And we believe they can be the foundation for our decentralized offering. They're performing strongly both financially and operational, and it's an area that we continue to revisit.
We continue to look at what we're doing with those sites, how fast they are able to come up to speed and what their recruitment rates are like. The quality of the data that we're providing at those sites has been really first-class and they played a major role for us in involvement with the big vaccine trials. And so, they're really -- I'd say, I'm pretty pleased with the way they're performing and particularly excited about the role they're going to play in that more hybrid and decentralized approach as we go forward.
We really feel we've got all the key components of that decentralized approach to bring together solutions that can be very exciting for customers. I think that's really what's getting these new customers particularly interested.
Tycho Peterson
And how are you thinking about the real world data solutions, part of the business that they bring? Obviously, there's a lot of focus with the pandemic and therapies being kind of rushed to market. How are you feeling about real world data at this point?
Steve Cutler
Yeah. We feel -- we're feeling like we're making good progress in the real world data. The tokenization side of things, it introduces another aspect of a real world data that really has the ability to bring in data from disparate and different sources from genomics data, from lab data, from the health record data, to bring it together on an individual deidentified patient basis and allow us to track that. So that's certainly another arrow in our quiver from a real world perspective. And we feel that, that along with some of the other areas that we've been already working down, it gives us a nice story to tell and a nice operational delivery process to put forward on the real world front.
We really do believe real world is a fundamental part of the future of clinical development. The randomized controlled trial certainly played a major role over the last, probably hundred years now. But going forward real world evidence and the ability to collect and to assimilate and analyze and really take direct insights, real world data is absolutely going to be critical. And I think we're seeing that as we come out of the pandemic with the vaccine, the patients who are in the vaccine portfolios, the ability to have a look at that data on a long going basis would be extremely valued and is extremely valuable. And so, that's an area we're very highly focused on and believe we have some real advantages.
Tycho Peterson
Last one for me. There's obviously a lot of moving pieces in this space now with, PPD being acquired Parexel and back to private equity. We see what happens with Covance at Labcorp. How much of a focus is this for your customers, as you go out and have discussions that a number of these assets are changing hands?
Steve Cutler
That's a tough one, Tycho. I think we talked to our customers about what we're doing and their projects. I don't sort of get too much into what they think about our competitors. I'll be honest I haven't heard any huge concerns from our customers about what's happening in industry. They recognize we're in a dynamic industry. There are a lot of changes precipitated by lots of different things. And so, it's -- I'm presuming they're sort of aware of it, where does those changes? But I don't get into too many discussions about our competitors with our customers. I'd prefer to talk about ICON and what we're doing.
Tycho Peterson
Okay. Thank you.
Operator
Thank you. And your next question comes from the line of Jack Meehan from Nephron Research. Your line is now open.
Jack Meehan
Thank you. Good morning and good afternoon. Wanted to start -- I was hoping you could give a little bit more color on the PRA results in the quarter. They had a big sequential step-up on revenues. Just was curious if you could talk about any path through dynamics or COVID work that might've contributed there.
Steve Cutler
Yeah. Jack, I think we alluded in our prepared comments that I think we both saw a fairly significant amount of work in the first half of the year and specifically in the second quarter from these large vaccine trials. I think both companies were in a similar position there, which led to that significant jump up in revenues predominantly because of the large pass-throughs in those trials. So, no huge surprise.
I think we pulled it out, because I think going forward, those trials of -- the days of those trials are probably coming towards the end. There is not follow on work. There's no cliff, but there's this sort of -- I think we've hit the peak there and going forward, we're going to be doing more, say treatment trials, diagnostic trials, et cetera, and follow-up on a smaller scale on those vaccine trials. But I think that was certainly a factor for the revenues on the PRA side of things as it was for ICON.
Jack Meehan
Great. And one for Brendan. Just within the guidance, I was wondering if you could give any color around phasing in the third quarter, in the fourth quarter. Or just -- there's obviously a lot of moving parts, just any color around your expectations for building up to the full year number, it would be helpful.
Brendan Brennan
Yeah. Jack, I mean, we will -- as I said probably previously to give better [ph] answers. We do expect the growth to continue to be sequential. Steve made the point around that the revenues, obviously on the first half of the year, were very strong as a consequence of a lot of that pass-through revenue coming through that is going to dissipate somewhat in the back half of the year. That's kind of indicated in the guidance and certainly at the midpoint and the higher end even. So, you can see that sequentially -- you can probably work at the math on that yourselves, but sequentially, on op income yes, absolutely continue to moving in the right direction and it'll be even an off pace. I think we might even see a little bit of a pickup from Q3 into Q4, a little more so. So, I think that's broadly where that we do expect it to say good sequential progress with -- continuing to pick up as we get through the year.
Jack Meehan
Thank you.
Operator
Your next question comes from the line of Luke Sergott from Barclays. Please ask your question.
Luke Sergott
Hey guys, thanks for the question. I just want to get -- Steve, I just want to get your take on that COVID cliff comment. So, as we think about the variance and adding capacity for vaccines for kids and under 18 and as the regular business starts coming back online, I know that there are different therapeutic indications. But is there enough industry capacity to handle all this extra work that's going on? Just would love to hear your thoughts on that, and then how that kind of bakes into the soft landing versus the cliff.
Steve Cutler
Yeah. I certainly think there's enough. I mean, to answer your question directly, Luke, I think we've got enough industry capacity to do this. The way we're doing these trials now, I think is more efficient, more effective. The remote -- I've talked about the remote monitoring. We have some mega sites around the world and certainly some of our Accellacare sites have made major contributions in terms of patient numbers.
So, while you have a lot of patients in these trials, you don't necessarily have a huge number of sites, because you have a lot of patients at those sites. They're relatively low intensity type trials, is that makes sense. If they're not oncology trials, put it that way. They just have a large volume of patients with a lower intensity of work and you can -- they do suit themselves very well, very much to a remote decentralized type of approach. So, I'm very confident we have the capacity to do the work that we're going to be asked to do.
I did make the comment that I don't think we're going to be doing these very large 40,000, 50,000 patient vaccine trials in the future. That doesn't mean to say we won't be -- say doing a follow on studies, the kids, the various subpopulations. And we're doing those. As I indicated at the RFP percentages are still in the high-teens in the last quarter. So, it remains of -- the COVID work remains an important part of our portfolio, important part of our backlog. But I just don't anticipate that you'll see the significant uptick in revenues. And, of course, those pass-throughs in future quarters, as we've seen in the last couple of quarters, that's really what I was trying to get across.
Luke Sergott
Yeah. That's helpful. And then lastly, on the mix of the FSP work, can you just talk about the -- how -- if there's been any changes in demand trends on those RFPs with a mix of FSP? And then how you guys think about that going forward now with PRA and the book?
Steve Cutler
Well, we feel very good about our FSP, a strategic solutions group. We are the industry leader by some distance in that area. We have a very -- I believe, a compelling offering in that space. We've had two extremely successful organizations coming together to make a really top-notch, we believe, functional services groups. So, we feel very good about our position in the market and our ability to continue to really dominate that market we believe going forward.
In terms of demand, we still see strong demand in the functional space. It's an important part of our offering. It supports our full service business as well. So, it really is -- it's a double benefit for us. It's a market and a strong market and a growing market in itself, but it also allows us the ability to bring in short-term resources from our own group in a relatively fast and speedy basis.
So, it has a number of benefits from our -- for our business, both for our full service. And, of course, as an entity alone and these functional opportunities are growing and not just in terms of pure functional, but more hybrid sort of where we provide some data analytics. So, we provide some project management or we will do it on a unit basis and take responsibility for the delivery of the outcome, rather than just on a -- this is an emerging and a developing -- evolving, should I say business and one that we feel very connected to and passionate about growing.
Luke Sergott
All right. Thanks.
Operator
Your next question comes from the line of Don Hooker from KeyBanc Capital Mark. Please ask your question.
Donald Hooker
Great. A lot of questions have been asked here. So, I just have one. I was interested in this new Veradigm tool, this new partnership with Allscripts and kind of what led you -- what's interesting to you about entering a partnership with Allscripts and what are they going to give you in terms of data and access that you didn't already have? You have a lot of partnerships, so I'd love your perspective there.
Steve Cutler
Yeah. I'd love to put it -- this is really the PRA side of our business. That's -- it's moved into this. But really it's an opportunity to very much expand the capabilities of our clinical research network, if you like. These are sites, where we're installing or helping to install software, which allows them to identify patients and then for those -- for the patients in their practices to become candidates for clinical trials that are going on.
So, we're spreading the net wide and these are trials that would probably be initially in the more late stage area, more simple sort of later stage trials, because most of the site -- many of the sites will be relatively research naive, but patients will -- people will go into their physicians who were part of this network will be offered whatever treatment they need for whatever they have. But the physicians will know that there's a clinical trial available to them, which they can either refer those patients to a particular site, or if the circumstances dictate, they can become a site themselves.
So, we were really introducing clinical researchers as a care option for patients, which I certainly believe is the future of clinical research. We have to get more people involved. Only typically 3% to 5% of people have been involved in a clinical trial. This is one way to expand that. We talked about democratizing clinical trials, diversifying the patients or being conscious of the need to diversify our patient population. This is a way we're practically intangibly doing that, allowing us to look at the electronic health records in the sites and find these patients, and then offer that clinical research as that -- as an option to them.
So, it's an exciting area. One that I can take no credit for whatsoever. Kent Thoelke is our Chief Innovation Officer, has driven this and he has driven a number of these sorts of initiatives, but we're excited about being able to partner with Veradigm Allscripts sites and really as I make this a option for patients.
Donald Hooker
Great. Well, thanks for the question.
Operator
Your next question comes from the line of Patrick Donnelly from Citi. Please ask your question.
Patrick Donnelly
Great. Thanks for taking the questions, guys. Brendan, maybe one for you on the cost synergy side. It sounds like that's already starting to take shape through some near term opportunities. Can you just talk about how things are going to progress there, some of the near term opportunities and then confidence level now that you've gotten under the hood a bit and kind of kick the tires?
Brendan Brennan
Yeah. I think, we're happy with the progress we're making there in the project. It's a -- we're starting to obviously get into those numbers and really get a better sense of getting out for that 150, which as we've said in the past, we think is a very doable number and we'll look to exceed it, of course. Steve made reference to the fact that some of the early actions we've taken already is around the office infrastructure. And we've announced some of the consolidation of the office infrastructure already. And that will have -- certainly as we think of that 150, I would imagine probably about -- in the range of 20 or so percent, maybe even 25% of that 150 could be identified through to those types of savings around facilities and facilities management. And that's an area that we're keen to do is we bring the two organizations together. It makes sense from a cultural point of view to have folks in one office, is about the teamwork, and also makes good financial sense.
So, there's some of the early pieces we are doing. Of course, we're looking at other areas as well, and ICON to be very stringent cost managers and that we will bring that discipline, but also the good models that we have for running our support services in terms of the efficiency of our enterprise wide systems and the onshore/offshore models that we've had in the organization for quite some time now.
So, we think we can make a good progress there, early days. It's probably more of the -- as I said, the facilities pieces, but good line of sight. And we'll start to see that coming in. As I said, not so much in the back half of this year, a little bit, certainly, in the back half this year, but obviously we're putting down the building blocks ready for good progress for that in 2022.
Patrick Donnelly
No, that's helpful. One -- just one on kind of the COVID work and you've talked a lot about it. Can you just talk about the margin profile, some of that non-vaccine COVID work? I mean, any reason we should see a big shift, we talked about the pass-throughs obviously, but as we get into things like next year and the mix shifts away from some of the large vaccine trials into some of the non-big vaccine COVID work, how should we think about the margin profile, some of that COVID specific work child versus not?
Brendan Brennan
Yeah. Well, I think as we get into the non-vaccine trials, obviously that has a very beneficial mix in terms of the revenue, would have those large pastures are certainly not to the same extent without postures, of course, but not nearly to the same extent is a 44,000 patient trial or those [indiscernible]. And that will have a pretty significant positive mix element to our overall margin profile. And so, certainly as we come through this first half of the year, we've seen that impact on gross margin particularly, and we do expect that to start to significantly improve as we get into the back half of the year and certainly into 2022 as well.
Patrick Donnelly
That's helpful. Thank you.
Operator
Your next question comes from the line of Juan Avendano from Bank of America. Please ask your question.
Juan Avendano
Hi. Thank you for squeezing me in. Just one for me. On the tax energies, given the ICON is an Irish company, this is definitely a favorable component to the deal. But can you give us your updated thoughts to see if there's been any evolution on your thought process on the proposed global minimum tax and anti-tax inversion reforms that are being proposed and whether or not they would apply to ICON?
Brendan Brennan
Second part, first one, Juan, on the anti inversion rules, no, we don't think they would apply the relative scales of the organization ourselves and the legacy PRA organization. We're good. Obviously, we were the largest startup company by market cap, so we don't feel there's any risk really around the anti inversion rules in this particular transaction.
On the first part, it's probably too early to say, to be absolutely honest. Of course, what we can say is that as we get, and if we do see an agreed minimum global tax rate, the chances are that proportionally ICON will still benefit more than our public company peers in -- that are non-Irish based effectively, because they're different. The proportion of saving, if you like, will still be, or savings as a result of efficient tax rates will probably be -- still be larger maybe possibly than even they are now, albeit might move up from where we're currently thinking.
As you know, we're thinking about 14% for the long run, that's still what we're working towards. That's still what the legislation says. And, of course, there's going to be a lot of work and a lot of geographies before that starts to change. So, we'll continue to work with that with a certainly in denial to that minimum global tax rate as time goes by.
Juan Avendano
Thank you.
Operator
Your next question comes from the line of Vela Nissen [ph] from Mizuho. Please ask your question.
Ann Hynes
Hi. Can you hear me?
Brendan Brennan
Yes. Yep.
Ann Hynes
Sorry. It's Ann Hynes. Sorry about that. Just a question. I might've missed this, but did you provide a combined backlog as of 6/30/21 for both the combined company?
Brendan Brennan
No. Not, not yet Ann, mainly because we're obviously looking at what's the right way to do that. We report on our full contract value basis on a 606 basis. And we'll have to have a think about -- just -- obviously the PRA guys would have -- would not have included that in the past. So, we will be, Ann, talking about that, probably at the end of our -- we're still closing our balance sheets as you know, and that takes a bit of time. So, we're still working on that process and we'll have that -- we'll have an opening to closing reconciliation for you on the Q3 call.
Ann Hynes
Okay. And then, maybe shifting to -- just the environment, like I know the demand environment is very strong, but can you talk about the supply environment, especially with CRAs, some of my recent checks suggest like the environment's getting much tighter. Can you -- so can you just talk about wage pressure with CRAs and any other bridge pressure you're seeing?
Steve Cutler
Yeah. Sure, Ann. It is getting tighter. Yeah. Particularly in certain parts of the world, North America, probably the focal points. The other parts of the world, I think we're in good shape. Europe's not as so much of an issue. Asia is not so much of an issue. Latin America has a little bit of focus as well, but really North America is where that tightening is. And yeah, the salaries are increasing. And we are putting in place. And you guys sort of alluded to earlier in the call, a number of things that we're doing to promote people in a more timely manner to bring in new graduates to truly put a focus on bringing in new -- people who are more in the sort of clinical trial assistant role, and to train them and all that other good stuff.
So, there's a lot of things we're doing to attenuate or to limit that sort of pressure. But at the moment, it's a fairly hot market and fairly a strong demand from -- as I say from that point of view.
Ann Hynes
All right. And one last question, I know you're doing non-GAAP earnings now with PRA, can you talk about just what we should assume for stock comp expense and amortization for the combined companies? Do you have those numbers yet?
Brendan Brennan
It'll be a bit. We'll probably give you more granularity on that in the next quarter. The amortization is obviously going to be pretty significant as a number of running for the P&L account. It's going to be in that ballpark of somewhere, probably in the like 350s, in the 400 on an annual basis.
Ann Hynes
Okay.
Brendan Brennan
And the stock hump will probably just be an excess of the $100 million mark. So, kind of in the -- yeah, $110 million to $115 million and mark albeit, and that's probably elevated this year a little bit as a result of some of the change of control provisions in the 308 [ph] contracts. So, we'll give you a better clarity on that, but those numbers are just kind of broad ballparks for you to work with.
Ann Hynes
All right. Great. Thanks so much.
Operator
Your last question comes from the line of Dan Leonard from Wells Fargo. Please ask your question.
Dan Leonard
Thank you. Just a couple of clarifications. First off, have you seen any changes or impacts from COVID variants worldwide on site availability, patient willingness to enroll in clinical trials, even over the past four to six weeks?
Steve Cutler
Site availability, no. We seem silly in terms of -- I'm interpreting your question, Dan, in terms of developing sites to do any sort of trials, because of the pandemic now sort of moving towards, we hope, it end. We certainly see about 15% to 20% of sites having -- still having some impact from COVID. But recruitment of patients generally is back to -- I would have thought about that the 90% mark on a point where we want to go. And as this seems to be a bit of a sigmoidal curve, if that makes sense. We kind of keep approaching the top, but we're not quite there. And I think it might be a few more months or even into the winter before we actually get there.
It's that's the question that you're asking. I think we're moving in the right direction, but it's still some impact.
Dan Leonard
Yeah. That's the exact question. Thank you. And then my follow-up, as I'm trying to think about framing 2022, I know you said there was no COVID cliff, but there's a tough comp from COVID vaccine trials. So, does your high single digit revenue CAGR, does that apply to 2022 when you consider a 2021 base inclusive of PRA for the full year, or is that more of a normalized comment beyond the bump of COVID trial work?
Steve Cutler
I think that's probably more the latter. Dan, high single digits, we think is sort of post-COVID through the -- through into the more normal, whatever normal is these days. Maybe we'll get back to this someday. But we see that as a sort of cadence the business can sustain on a long-term basis. And that being, I think, significantly above what the market will be at around -- we think around 6%, 7%, maybe 8%, but we're going to be a little higher than that and we believe we can easily fulfill -- well, maybe not easily, but we can certainly fulfill those sorts of obligations or proposals.
Dan Leonard
Got it. Thanks for the clarification.
Steve Cutler
Okay. All right. So, in terms of closing remarks, I'd like to thank everyone for listening today. There is -- these are certainly exciting times for us at the new ICON, and we're pleased to have delivered another strong quarter, demonstrating continuing progress and representing a strong platform for future growth. We also look forward to continuing our integration and the creation of the world's leading healthcare intelligence and clinical CRM.
And finally, I want to take the opportunity to recognize our entire workforce and to thank them for all their efforts over the past quarter. Thank you all and have a great day.
Operator
This concludes our call for today. Thank you for participating. You may now disconnect. | https://seekingalpha.com/article/4440787-icon-public-limited-company-iclr-ceo-steve-cutler-on-q2-2021-results-earnings-call-transcript?source=feed_all_articles | 2022-05-09T21:46:40Z | https://seekingalpha.com/article/4440787-icon-public-limited-company-iclr-ceo-steve-cutler-on-q2-2021-results-earnings-call-transcript?source=feed_all_articles | false | 1 |
Covid: Chandigarh tricity’s active caseload rises to 177
With 25 more people testing positive for Covid-19 on Monday, tricity’s active caseload climbed to 177, a first in the past 65 days.
Both Chandigarh and Mohali reported nine fresh cases each, down from 11 and 10, respectively, the day before. In Panchkula too, the figure reduced from nine to seven in the same period.
But with lower number of recoveries, tricity’s active cases jumped from 170 to 177 in the past 24 hours.
At 71, Mohali’s active cases breached the 70 mark after 68 days. Another 78 people are still infected in Chandigarh and 28 more in Panchkula.
Tricity’s daily infections have remained in double digits for 20 straight days, keeping the active cases from dropping below 100 for two consecutive weeks.
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Chandigarh: 15-year-old boy, brother held for murder bid on woman
Over a week after a 15-year-old boy and his three brothers attacked a 42-year-old woman for complaining to his family about misbehaving with her daughter, police on Monday apprehended him and one of his brothers. In her complaint, the woman, a resident of Mauli Jagran, had told the police that the 15-year-old boy had forcibly stopped her daughter while she was returning home from tuition and misbehaved with her.
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Delhi: SC scraps plea seeking stay on Jahangirpuri anti-encroachment drive
The Supreme Court on Monday clarified that its order staying the demolition drive by North Delhi Municipal Corporation in Jahangirpuri is not a licence to protect unauthorised encroachments while it turned down a petition by the Communist Party of India (Marxist) seeking a stay on an anti-encroachment drive in south-east Delhi's Shaheen Bagh.
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Mohali police recover pistols, car used to murder Vikramjit Middukhera
Police have recovered four countrymade pistols used to murder Youth Akali Dal leader Vikramjit Singh Middukhera, 33, in Sector 71 in August last year. The recoveries were made following the interrogation of three of the assailants and gangster Bhupi Rana, who were in the custody of Mohali police for 13 days. However, police have yet to confirm the motive behind the daylight murder and the identity of the fourth shooter.
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23-year-old Chitkara University student killed in car-truck collision at Zirakpur
A 23-year-old student of Chitkara University was killed and Gitika's three friends were injured after their car was hit by a truck while trying to overtake it on the Kalka-Zirakpur highway on Monday morning. The deceased, Gitika, hailed from Nabha, Patiala. Her two friends, Sahil from Ludhiana and Aditi from Zirakpur, were grievously injured and are on ventilator support at Fortis Hospital, Mohali. Gitika died on the way.
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Chandigarh govt school computer teachers complain contractor demanding ₹27,000
A day after the Hindustan Times highlighted how computer teachers at Chandigarh's government schools were being illegally asked to pay ₹30,000 to register with the new contractor, the teachers said the contractor had lowered the amount to ₹27,000. There are a total of 115 junior and 48 senior computer instructors working in the city's government schools. The said contractor was hired through the Government e Marketplace (GeM) portal. | https://www.hindustantimes.com/cities/chandigarh-news/covidchandigarh-tricity-s-active-caseload-rises-to-177-101652127209321.html | 2022-05-09T21:47:05Z | https://www.hindustantimes.com/cities/chandigarh-news/covidchandigarh-tricity-s-active-caseload-rises-to-177-101652127209321.html | true | 1 |
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Receive News & Updates for Yield Optimization Platform & Protocol Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Yield Optimization Platform & Protocol and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter. | https://theenterpriseleader.com/2022/05/09/yield-optimization-platform-protocol-hits-market-cap-of-2-77-million-yop.html | 2022-05-09T21:47:41Z | https://theenterpriseleader.com/2022/05/09/yield-optimization-platform-protocol-hits-market-cap-of-2-77-million-yop.html | false | 83781 |
Shares of KeyCorp
KEY,
-1.84%
slid 1.84% to $19.18 Monday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index
SPX,
-3.20%
falling 3.20% to 3,991.24 and Dow Jones Industrial Average
DJIA,
-1.99%
falling 1.99% to 32,245.70. This was the stock's third consecutive day of losses. KeyCorp closed $7.99 short of its 52-week high ($27.17), which the company achieved on January 18th.
The stock underperformed when compared to some of its competitors Monday, as JPMorgan Chase & Co.
JPM,
-1.50%
fell 1.50% to $121.86, Wells Fargo & Co.
WFC,
-1.32%
fell 1.32% to $43.96, and PNC Financial Services Group Inc.
PNC,
-1.77%
fell 1.77% to $163.67. Trading volume (9.0 M) remained 1.3 million below its 50-day average volume of 10.3 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. | https://www.marketwatch.com/story/keycorp-stock-outperforms-market-despite-losses-on-the-day-01652130132-f2eb36dbb82b | 2022-05-09T21:49:00Z | https://www.marketwatch.com/story/keycorp-stock-outperforms-market-despite-losses-on-the-day-01652130132-f2eb36dbb82b | false | 3658 |
Democrats want to boost Biden Ukraine aid plan to near $40B
Washington – Congressional Democrats are preparing a plan that would boost President Joe Biden’s requested $33 billion Ukraine aid package to nearly $40 billion, and a House vote is possible as soon as Tuesday, two people familiar with lawmakers’ thinking said.
In what would be a setback for Biden’s push for more COVID-19 spending, the measure would not include any of the additional billions in pandemic spending that the president has wanted included in the plan.
Democrats have offered the proposal to Republicans, who’ve supported assisting Ukraine but opposed adding pandemic spending to the measure. GOP backing would be crucial to pushing legislation through the evenly divided Senate.
More: Events in the Russian invasion of Ukraine on Monday, May 9, 2022
“I’m focused on getting it done without extraneous matters on it, and getting it done quickly,” Senate Minority Leader Mitch McConnell, R-Ky., said of the Democratic proposal. He said the measure “may adjust some in the process.”
The measure was described Monday by people who could speak only on condition of anonymity because they were not authorized to discuss it publicly.
Democrats’ movement on the proposal comes with Russia’s invasion of Ukraine in its 11th week and showing signs of becoming a grinding, long-term war. Heavy fighting in Ukraine’s eastern and southern areas is causing widespread damage and significant losses on both sides, but the Russian offensive is showing few signs of progress.
Still, U.S. officials in and out of Congress have stressed that it will be critical to continue speeding assistance to Ukraine, whose forces are outnumbered.
Emphasizing the urgency facing U.S. officials, Pentagon press secretary John Kirby said the Pentagon’s ability to send weapons systems and other equipment from Defense Department stockpiles to Ukraine will run out in about three weeks. The Pentagon currently has about $100 million in drawdown authority left from a $13.6 billion Ukraine aid measure enacted in March.
“Which is why we encourage Congress to act quickly,” Kirby told reporters at the Pentagon. He said the Pentagon would like “no interruption” in its ability to send Ukraine weapons and other equipment.
While Democrats say more spending to combat COVID-19 is also crucial, their plan to seek votes on a package omitting those funds underscores their thinking that rushing assistance to Ukraine is their top priority. A push for a separate pandemic measure would come later, Democrats say.
The officials said Democrats’ Ukraine measure would include $3.4 billion more than Biden had requested for defense spending and another $3.4 billion over what the president sought for humanitarian aid.
Biden’s request, which he sent Congress on April 28, asked for $20 billion for defense spending for Ukraine, the U.S. and their allies. It also requested $3 billion for humanitarian assistance, including to help feed people around the world who rely on grains and other food from war-racked Ukraine.
Backed by Democrats, Biden has asked Congress for another $22.5 billion to buy vaccines, treatments and tests so the country could be better prepared for future COVID-19 variants, and to help staunch the virus’ spread in poor countries abroad. In a deal with Republicans, Democrats agreed last month to slice that request to $10 billion, but the compromise was derailed over other disagreements.
With elections approaching and the public tiring of dealing with the pandemic, Republican support for added COVID-19 spending has flagged.
Unwilling to slow the Ukraine package, Republicans also want to keep the pandemic spending separate so they can use that measure for a fight over immigration that could damage Democrats.
The GOP wants to force a vote on a proposal to continue curbs on admitting migrants crossing the Mexican border for fear of spreading the pandemic, restrictions imposed by then-President Donald Trump.
With increases in border crossings expected soon, that proposal divides Democrats, with many reluctant to back Biden in ending those restrictions later this month.
–––
AP writer Lolita Baldor contributed to this report. | https://www.detroitnews.com/story/news/politics/2022/05/09/democrats-want-boost-biden-ukraine-aid-plan-near-40-b/9709146002/ | 2022-05-09T21:50:08Z | https://www.detroitnews.com/story/news/politics/2022/05/09/democrats-want-boost-biden-ukraine-aid-plan-near-40-b/9709146002/ | false | 30 |
A former Alberta justice minister has failed to persuade a judge to set aside a court ruling that found him in contempt of court for witness intimidation.
Alberta Appeal Court Justice Ritu Khullar says in a written decision that Jonathan Denis failed to make a case for why the lower-court ruling should be stayed.
Khullar notes that Denis has already filed an appeal of the contempt decision and that an appeal hearing remains the best place to hash that out.
Denis had also asked the judge to delay penalties and costs he could face for contempt until after the appeal is heard.
Khullar denied that, too, rejecting Denis’s argument that allowing the penalties to go ahead before his appeal would cause permanent damage to his law practice.
Denis was found in contempt last month when his law firm wrote a letter threatening to sue Alberta’s former chief medical examiner for libel while she was giving testimony in her wrongful dismissal lawsuit against the province.
Dr. Anny Sauvageau is seeking lost wages and benefits after her contract was not renewed in 2014.
Court of Queen’s Bench Justice Doreen Sulyma ruled on April 13 that the letter threatening to sue Sauvageau made her fearful of testifying plainly and honestly, and prompted another witness to beg off testifying altogether.
Denis is not a defendant in the lawsuit but was justice minister at the time of the allegations.
Sauvageau alleges she was forced out of the job as punishment after raising concerns over what she saw as political interference in cases and over billing on body pickups.
RELATED: Ex-Alberta justice minister found in contempt of court for defamation-threat letter | https://www.100milefreepress.net/news/former-alberta-justice-minister-loses-bid-to-stay-contempt-of-court-decision/ | 2022-05-09T21:55:29Z | https://www.100milefreepress.net/news/former-alberta-justice-minister-loses-bid-to-stay-contempt-of-court-decision/ | true | 21 |
INDIANAPOLIS (AP) — Indianapolis Colts owner Jim Irsay spent years putting together his expansive guitar collection.
On Monday, he announced one of his prized possessions — the Fender Mustang electric guitar used by the late Kurt Cobain — will be auctioned off to help support the team’s Kicking The Stigma mental health awareness campaign.
Bidding will take place May 20-22 at the Hard Rock Cafe in New York City’s Times Square and a portion of the proceeds will go to Irsay’s initiative.
During the announcement, Irsay, and his daughter, Kalen Jackson, said Cobain’s family supported the move and would put other items from Cobain on the auction block during that weekend.
But Irsay, who owns dozens of musical instruments including a drum set from The Beatles and the original manuscript of Jack Kerouac’s “On The Road” has no intention of losing Cobain’s guitar with an opening bid of $2 million.
Cobain used the guitar in Nirvana’s iconic “Smells Like Teen Spirit” music video.
The Irsays have committed $16 million to the team’s mental health initiative and Irsay said he has been speaking with director Peter Berg about filming a new public service announcement. Berg directed Hollywood hits such as “Friday Night Lights,” “Lone Survivor” and “Patriots Day.”
Cobain died in April 1994 from what was ruled to be a suicide.
___
More AP NFL: https://apnews.com/hub/nfl and https://apnews.com/hub/pro-32 and https://twitter.com/AP_NFL
Copyright © 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed. | https://wtop.com/nfl/2022/05/colts-owner-to-auction-guitar-to-help-mental-health-push/ | 2022-05-09T21:57:33Z | https://wtop.com/nfl/2022/05/colts-owner-to-auction-guitar-to-help-mental-health-push/ | false | 35 |
A Mountville man has been charged with multiple felonies after DNA evidence showed he sexually assaulted an unconscious girl at her Conestoga Township home in 2019, according to state police.
Darnell Marcus Lathon, 24, told investigators he never had any sexual contact with the underage girl after the two had attended a party in Lancaster city the evening of Nov. 22, 2019, according to an affidavit of probable cause. The girl's exact age was not stated in the affidavit.
But a January laboratory report from state police’s Forensic DNA Division showed that stains found on the bed where the girl was sleeping in her residence just south of Millersville the morning after the party came from Lathon during sexual contact, police said.
Police charged Lathon on Monday with two counts of aggravated indecent assault, unlawful contact with a minor and corruption of minors – all felony offenses – as well as two misdemeanor counts of indecent assault.
The girl had attended the party with several friends who later brought her home in an inebriated state, according to the affidavit. Though she could not remember what happened after leaving the party, the girl told police she woke up the following morning to see Lathon exiting her room, leaving clothing and bedding where his DNA was later recovered.
State police were notified of the sexual assault after the girl had undergone a forensic examination at Lancaster General Hospital later the same day.
The then-21-year-old Lathon had spent time at the girl’s home in the past and knew how to get inside her residence, she told police.
In an interview with investigators in August 2020, Lathon claimed the girl had been texting him and a friend throughout the day of the party, asking them to bring alcohol, according to the affidavit. Lathon said he received a text from the girl the day after the party asking if he had entered her bedroom, but he denied ever going to her house or having sexual contact with her, claiming he was with a friend the entire evening.
A sample of Lathon’s DNA was taken during the interview, which was later shown to match stains found on the girl’s bedsheets, police said. The stains are as many as one in 10 decillion times more likely to have originated from Lathon than from anyone else, the Jan. 13 report from state police’s Forensic DNA Division concludes. A decillion is 1 followed by 33 zeroes.
Judge Joshua Keller set Lathon’s bail at $50,000 during a preliminary arraignment Monday afternoon, court records show. He remains in Lancaster County Prison, unable to post that amount.
A preliminary hearing has not yet been scheduled.
Court documents show Lathon is currently awaiting trial in York County on charges of felony criminal trespass and several misdemeanor offenses including stalking, criminal mischief and driving under the influence. Aaron Nathaniel Holt, a private attorney listed as defending Lathon for those offenses, declined to provide comment.
An attorney was not listed for Lathon for the new offenses. | https://lancasteronline.com/news/local/dna-evidence-shows-mountville-man-sexually-assaulted-unconscious-girl-in-2019-police/article_02c18eb6-cfcf-11ec-ba51-83ccebcf5ba7.html | 2022-05-09T21:58:29Z | https://lancasteronline.com/news/local/dna-evidence-shows-mountville-man-sexually-assaulted-unconscious-girl-in-2019-police/article_02c18eb6-cfcf-11ec-ba51-83ccebcf5ba7.html | true | 1 |
Australian singer Nick Cave has announced the death of his 30-year-old son Jethro Lazenby.
In a brief statement provided by his management team, Cave wrote: “With much sadness, I can confirm that my son, Jethro, has passed away. We would be grateful for family privacy at this time.”
The cause of Lazenby’s death is not known. It comes seven years after the death of another of Cave’s four children, Arthur, who fell from a cliff in 2015.
Lazenby had been recently released from jail after he was found guilty of physically attacking his mother in March.
Earlier this year, a court heard Lazenby kneed his mother Beau Lazenby in the face during an argument in her Collingwood home, which caused bleeding and bruising.
He was released on bail on Thursday, on the condition he had no contact with his mother for the next two years.
His lawyer told the court he had been diagnosed with schizophrenia.
The Australian rock singer’s current wife, Susie, took to social media early on Tuesday morning to pay tribute to Lazenby.
“Darling Jethro,” she captioned a photo of her stepson on Instagram.
The death of Lazenby comes after Cave’s 15-year-old son Arthur – Lazenby’s half-brother – died after falling from a cliff near Brighton on England’s south coast in 2015.
An inquest into the death of Arthur Cave found the teenager had taken LSD before falling to his death.
More to come | https://www.smh.com.au/culture/music/nick-cave-announces-death-of-his-son-jethro-30-20220510-p5ajwk.html?ref=rss&utm_medium=rss&utm_source=rss_feed | 2022-05-09T21:59:06Z | https://www.smh.com.au/culture/music/nick-cave-announces-death-of-his-son-jethro-30-20220510-p5ajwk.html?ref=rss&utm_medium=rss&utm_source=rss_feed | false | 8 |
Shares of Teck Resources Ltd. Cl B
TECK.B,
-7.37%
shed 7.37% to C$47.64 Monday, in what proved to be an all-around poor trading session for the Canadian market, with the S&P/TSX Composite Index
GSPTSE,
-3.07%
falling 3.07% to 19,999.69. This was the stock's third consecutive day of losses. Teck Resources Ltd. Cl B closed C$9.03 below its 52-week high (C$56.67), which the company reached on April 18th. Trading volume of 2.8 M shares eclipsed its 50-day average volume of 2.5 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. | https://www.marketwatch.com/story/teck-resources-ltd-cl-b-stock-falls-monday-underperforms-market-01652128582-1cbc7475972a | 2022-05-09T22:01:54Z | https://www.marketwatch.com/story/teck-resources-ltd-cl-b-stock-falls-monday-underperforms-market-01652128582-1cbc7475972a | false | null |
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People's Rep'c of Guinea-Bissau, Republic of Guyana, Republic of Heard and McDonald Islands Holy See (Vatican City State) Honduras, Republic of Hong Kong, Special Administrative Region of China Hrvatska (Croatia) Hungary, Hungarian People's Republic Iceland, Republic of India, Republic of Indonesia, Republic of Iran, Islamic Republic of Iraq, Republic of Ireland Israel, State of Italy, Italian Republic Japan Jordan, Hashemite Kingdom of Kazakhstan, Republic of Kenya, Republic of Kiribati, Republic of Korea, Democratic People's Republic of Korea, Republic of Kuwait, State of Kyrgyz Republic Lao People's Democratic Republic Latvia Lebanon, Lebanese Republic Lesotho, Kingdom of Liberia, Republic of Libyan Arab Jamahiriya Liechtenstein, Principality of Lithuania Luxembourg, Grand Duchy of Macao, Special Administrative Region of China Macedonia, the former Yugoslav Republic of Madagascar, Republic of Malawi, Republic of Malaysia Maldives, Republic of Mali, Republic of Malta, Republic of Marshall Islands Martinique Mauritania, Islamic Republic of Mauritius Mayotte Micronesia, Federated States of Moldova, Republic of Monaco, Principality of Mongolia, Mongolian People's Republic Montserrat Morocco, Kingdom of Mozambique, People's Republic of Myanmar Namibia Nauru, Republic of Nepal, Kingdom of Netherlands Antilles Netherlands, Kingdom of the New Caledonia New Zealand Nicaragua, Republic of Niger, Republic of the Nigeria, Federal Republic of Niue, Republic of Norfolk Island Northern Mariana Islands Norway, Kingdom of Oman, Sultanate of Pakistan, Islamic Republic of Palau Palestinian Territory, Occupied Panama, Republic of Papua New Guinea Paraguay, Republic of Peru, Republic of Philippines, Republic of the Pitcairn Island Poland, Polish People's Republic Portugal, Portuguese Republic Puerto Rico Qatar, State of Reunion Romania, Socialist Republic of Russian Federation Rwanda, Rwandese Republic Samoa, Independent State of San Marino, Republic of Sao Tome and Principe, Democratic Republic of Saudi Arabia, Kingdom of Senegal, Republic of Serbia and Montenegro Seychelles, Republic of Sierra Leone, Republic of Singapore, Republic of Slovakia (Slovak Republic) Slovenia Solomon Islands Somalia, Somali Republic South Africa, Republic of South Georgia and the South Sandwich Islands Spain, Spanish State Sri Lanka, Democratic Socialist Republic of St. Helena St. Kitts and Nevis St. Lucia St. Pierre and Miquelon St. Vincent and the Grenadines Sudan, Democratic Republic of the Suriname, Republic of Svalbard & Jan Mayen Islands Swaziland, Kingdom of Sweden, Kingdom of Switzerland, Swiss Confederation Syrian Arab Republic Taiwan, Province of China Tajikistan Tanzania, United Republic of Thailand, Kingdom of Timor-Leste, Democratic Republic of Togo, Togolese Republic Tokelau (Tokelau Islands) Tonga, Kingdom of Trinidad and Tobago, Republic of Tunisia, Republic of Turkey, Republic of Turkmenistan Turks and Caicos Islands Tuvalu Uganda, Republic of Ukraine United Arab Emirates United Kingdom of Great Britain & N. Ireland Uruguay, Eastern Republic of Uzbekistan Vanuatu Venezuela, Bolivarian Republic of Viet Nam, Socialist Republic of Wallis and Futuna Islands Western Sahara Yemen Zambia, Republic of Zimbabwe | https://www.idahostatejournal.com/freeaccess/trash-talk/article_43c89e94-e079-5906-b8ad-d42588d61e62.html | 2022-05-09T22:06:21Z | https://www.idahostatejournal.com/freeaccess/trash-talk/article_43c89e94-e079-5906-b8ad-d42588d61e62.html | false | 3049 |
While the region is still in the midst of a long duration storm system, data collected on Saturday shows this no-named storm and Superstorm Sandy are nearly the same when it comes to the winds.
The average sustained wind speed at Atlantic City International Airport was 26.3 miles per hour Saturday, coming from the northeast. That number is just a tick below what it was on Oct. 29, 2012, when Superstorm Sandy made landfall as a post-tropical cyclone near Brigantine, at 26.4 mph.
The top wind gust at the airport was 61 mph at 2:32 p.m. Saturday. That was just three miles per hour lower than the top Sandy ACY gust of 64 mph, according to the Office of the New Jersey State Climatologist.
The top wind gust in the state Saturday was 70 mph in Tuckerton, while Bayville, Sen. Frank S. Farley State Marina in Atlantic City joined ACY with gusts over 60 mph.
For reference, the Blizzard of 2022, occurring on Jan. 29, had an average wind speed of 22.5 mph.
People are also reading…
However, the similarities between Sandy and this weekend's storm end there. The highest sustained wind was 38 mph Saturday at the airport, despite the higher gusts. During Sandy, it was 51 mph. Sustained winds are two-minute averages of the wind speed according to the American Meteorological Society, while gusts are the highest winds that are blowing, regardless of length.
Superstorm Sandy was one of the most powerful and destructive storms in recorded history in New Jersey.
That being said, this storm was strong in its own right. South Jersey was squeezed between a warm front, and its counter-clockwise flow, to the south, with high pressure, and its clockwise flow, to the north. That created a tight air pressure gradient. The tighter the gradient, the stronger the winds were.
A building under construction collapsed in Middle Township, on the border with Stone Harbor on Stone Harbor Boulevard.
In Egg Harbor Township, trees were picked up by their roots.
The onshore wind brought five rounds of coastal flooding to some spots between the Saturday afternoon and Monday afternoon high tides. Most of the flooding was in minor flood stage, which brings nuisance flooding.
Barnegat Light's tide gauge was roughly five inches into flood stage. Atlantic City saw flooding roughly three inches into flood stage. However, the Townsend Inlet Bridge was closed for periods of the time during the weekend, thanks to flooding on the Avalon side, said Marty Pagliughi, director of the Office of Emergency Management in Cape May County, as well as the mayor of Avalon.
Rainfall totals were generally between one and two inches of rain, good news for the "abnormally dry," pre-drought conditions seen in southeastern New Jersey. A few spots in the northern part of Ocean County were higher.
In Cape May, a clogged drain on Washington Street created "bad" flooding, said Jerry Inderweis Jr., of the city, who has in a number of official roles with the city.
A type of orange, inflatable ball was put on a manhole, to prevent the tidal flooding from spilling out into the street. However, the rain itself wasn't able to move into the drain, causing issues from Saturday morning until public works crews popped the ball and fixed the manhole cover Sunday.
This storm is far from exiting the area, though, it will be much less impactful than it was over the weekend. The low pressure system will meander just west of Bermuda through Wednesday. This will continue to bring stiff northeast winds, especially on Tuesday. Widespread minor stage coastal flooding is expected Tuesday morning with the pre-dawn high tide, except for the Delaware Bayshore. Spotty minor tidal flooding will then be had on Wednesday morning.
After that, the low pressure will drift westward. A ridge of upper level high pressure in the open Atlantic Ocean will push it into another ridge of warm, high pressure in the Eastern half of the United States. This will make landfall on the Carolina coast Friday before fizzling out over the weekend as it nears New Jersey Sunday and Monday.
Below are Jersey Shore locations with previous and forecast tide data. The forecasts show wh…
Expect a cloudy Thursday and Friday. Spotty showers and storms will then be had on a much warmer weekend, where highs will be 65 to 75 degrees. Tidal flooding may return, thanks to an onshore, southeast, wind. | https://pressofatlanticcity.com/weather/as-strong-as-sandy-our-storm-on-saturday-was-nearly-as-windy-at-acy-airport/article_626a881e-cfba-11ec-8bc7-931938b6e050.html | 2022-05-09T22:08:23Z | https://pressofatlanticcity.com/weather/as-strong-as-sandy-our-storm-on-saturday-was-nearly-as-windy-at-acy-airport/article_626a881e-cfba-11ec-8bc7-931938b6e050.html | false | 2 |
Microsoft has released new Edge Dev build for Insiders. The latest Edge Dev update comes with several new features and changes and takes the browser version to 102.0.1245.3. The update also focuses on fixing bugs and improving some features.
Below is everything that’s new in the latest Dev build.
- Support for custom IE mode in Settings
- Now you can add passwords directly in the Settings
- Support for XCloud clarity boost by default
- Support for a management policy from Chromium
The update includes fixes and improvements, which you can check out below.
However, the update also includes several bugs that may cause you trouble, so be aware of that. You can see the list of known issues below.
Microsoft has also said it will release Edge version 103 builds to Dev Channel Insiders soon, but there may be one or two more small patches to version 102. The company hasn’t clarified when version 103 will go live.
Meanwhile, if you want to check all these new features and don’t have Edge Dev installed, you can get it here from the Official Microsoft website. | https://mspoweruser.com/edge-dev-build-102-0-1245-3-new-features/ | 2022-05-09T22:09:32Z | https://mspoweruser.com/edge-dev-build-102-0-1245-3-new-features/ | false | 1 |
Three Notre Dame alumni nominated for King Clancy Memorial Trophy
With the Stanley Cup playoffs underway, it’s time to speculate who will win this year’s awards in the NHL. One award is the King Clancy Memorial Trophy. This award is presented to the player who best exemplifies leadership on his team at all times and has been a humanitarian in his community. Past winners include Pekka Rinne, Henrik and Daniel Sedin, Henrik Zetterberg, Patrice Bergeron, Vincent Lecavalier, Jarome Iginla, Ron Francis, Curtis Joseph and Ray Bourque.
Every team has a nominee, and this year, Notre Dame is well represented. That’s because three players who once suited up for the Irish are among the nominees. That means there’s a good chance Notre Dame will have one of its own be listed among some elite company, although the award only has been presented since 1988. Here are the three former Irish players to watch out for this awards season, two of which play for playoff teams: | https://www.newsbreak.com/news/2592735777754/three-notre-dame-alumni-nominated-for-king-clancy-memorial-trophy | 2022-05-09T22:10:16Z | https://www.newsbreak.com/news/2592735777754/three-notre-dame-alumni-nominated-for-king-clancy-memorial-trophy | true | 1 |
Quadren Wilson pleads guilty to drug charge linked to overdose death
MADISON, Wis. (WMTV) - A man who was shot during an arrest by two state agents in February pleaded guilty Monday to manufacturing or delivering narcotics connected to an overdose death, according to court records.
Quadren Wilson will spend three years in prison for the charge and three years of extended supervision. Conditions imposed on Wilson include that he must maintain full-time employment, obtain a GED or a diploma equivalent and not use or have drugs without a prescription.
The charge against Wilson accused him of being connected to an overdose death that happened in a McDonald’s bathroom, which alleged that Wilson provided the drugs that claimed the man’s life.
Twenty-one members of various law agencies participated in Wilson’s arrest on Feb. 3 near the intersection of American Parkway and East Park Boulevard on Madison’s east side, including members of the DEA, Wisconsin State Patrol, the Dept. of Natural Resources, and the Madison Police Dept. None of them were wearing body cameras at the time.
The two agents who fired their weapons on the scene were identified as DCI Special Agents Mark Wagner and Nathan Peskie.
Wilson was wanted on an outstanding Department of Corrections warrant related to a parole violation and was the subject of an ongoing investigation, the Sheriff’s Office stated. The Dane County Sheriff’s Office revealed in February that there was no evidence Wilson had a gun or any other weapon with him during the time of the shooting.
Medical records released on Feb. 18 showed that after Wilson was admitted to UW Health’s emergency department, he had five wounds and a cut. Most of the wounds were to his back. Medical notes from the trauma doctors also indicate Wilson didn’t have much feeling from his stomach down at the time of his admission.
Copyright 2022 WMTV. All rights reserved. | https://www.nbc15.com/2022/05/09/quadren-wilson-pleads-guilty-drug-charge-linked-overdose-death/ | 2022-05-09T22:11:04Z | https://www.nbc15.com/2022/05/09/quadren-wilson-pleads-guilty-drug-charge-linked-overdose-death/ | true | 1 |
Lexington’s spring mulch giveaway is Saturday, May 14
The mulch will be available on a first-come, first-serve basis
LEXINGTON, Ky. (WTVQ/PRESS RELEASE) – This year’s spring mulch giveaway for Lexington residents will be held on Saturday, May 14.
Yard waste collected by Lexington’s Division of Waste Management during the past several months is now available as mulch. A portion of that material will be available for pick up at 1631 Old Frankfort Pike between 8 a.m. and noon, or until the supply runs out. Please don’t arrive before 8 a.m.
The mulch will be available on a first-come, first-serve basis and is limited to one pickup truck load per person.
Once again, there will be a self-load area for residents picking up smaller amounts of mulch. Due to demand, those who self-load mulch will be limited to a 15-minute loading time. Those self-loading must bring shovels, bags and other supplies. The city is not able to provide tools or bags at the event.
The event is for Fayette County residents only. Bring your driver’s license with a Lexington address.
Enter via Jimmie Campbell Drive, and look for posted signage that will direct you through the event site. For more information, call LexCall 311 at (859) 425-2255. | https://www.wtvq.com/lexingtons-spring-mulch-giveaway-is-saturday-may-14/ | 2022-05-09T22:13:28Z | https://www.wtvq.com/lexingtons-spring-mulch-giveaway-is-saturday-may-14/ | true | 1 |
Tinashe Sambiri| Citizens’ Coalition For Change (CCC) Chief Change Champion , President Nelson Chamisa has said victory is certain in the 2023 Presidential Election.
President Chamisa
was in Gwanda on Saturday for a victory celebration rally.
“To achieve victory in 2023 people must register to vote in numbers.
We salute you for your resilience and we shall not let you down,” said President Chamisa.
President Chamisa thanked Gwanda citizens for voting for change and urged them to do the same in the 2023 elections.
CCC deputy spokesperson Gift Ostallos Siziba wrote on Facebook:
“President Nelson Chamisa has finished addressing a victory celebration rally in Gwanda.
We are here to thank Citizens for entrusting the new with the task to bring change in our country.
In a devolved Zimbabwe, Gwanda shall be made great and massive.”
In a separate incident CCC has indicated that party spokesperson Advocate Fadzayi Mahere’s Twitter account was hacked.
“Our spokesperson
@advocatemahere
’s account appears to have been hacked. Please disregard all communication at the moment as we try to resolve this issue. “ | https://www.zimeye.net/2022/05/10/president-chamisa-assures-nation-of-victory/ | 2022-05-09T22:13:59Z | https://www.zimeye.net/2022/05/10/president-chamisa-assures-nation-of-victory/ | false | 4 |
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tgs announces results for the first quarter ended on March 31, 2022 ("1Q2022")(1)
Transportadora de Gas del Sur ("tgs", "the Company", "us", "our", or "we") is the leader in Argentina in the transportation of natural gas, transporting approximately 60% of the gas consumed in the country, through more than 5,700 miles of gas pipelines, with a firm-contracted capacity of 82.4 MMm3/d. We are one of the main natural gas processors. In addition, our infrastructure investments in Vaca Muerta formation place us as one of the main Midstreamers at Vaca Muerta.
Our shares are traded on NYSE (New York Stock Exchange) and BYMA (Bolsas y Mercados Argentinos S.A.).
Our controlling company is Compañía de Inversiones de Energía S.A. ("CIESA"), which owns 51% of the total share capital. CIESA's shareholders are: (i) Pampa Energía S.A. with 50%, (ii) led by the Sielecki family, Grupo Investor Petroquímica S.L. (GIP) and PCT L.L.C. hold the remaining 50%.
For further information, see our website https://www.tgs.com.ar/inversores/servicio-para-inversores?lang=EN
Stock Information BYMA Symbol: TGSU2
NYSE Symbol: TGS (1 ADS = 5 ordinary shares)Shareholding structure as of March 31, 2022 tgs holds 794,495,283 issued shares and 752,761,058 outstanding shares.
Buenos Aires, Argentina, May 9, 2022
During the 1Q2022, total comprehensive income amounted to Ps. 8,198 million, or Ps. 10.89 per share (Ps. 54.45 per ADS), compared to total comprehensive income of Ps. 6,063 million, or Ps. 8.05 per share (Ps. 40.27 per ADS) in the first quarter ended on March 31, 2021 ("1Q2021").
Operating profit for 1Q2022 amounted to Ps. 12,262 million, Ps. 1,073 million below the 1Q2021. This variation was mainly due to:
-
Operating costs and administrative and commercialization expenses, excluding depreciation, increased by Ps. 3,571 million compared to 1Q2021.
-
Depreciation rose by Ps. 242 million.
-
Partially offset by higher revenues from the Production and Commercialization of Natural Gas Liquids (Liquids) segment amounted to Ps. 4,681 million.
Financial results recorded a positive variation of Ps. 1,893 million.
The income tax expense showed a decrease of Ps. 1,295 million.
(1) The financial information presented in this press release is based on interim consolidated financial statements presented in constant Argentine pesos as of March 31, 2022 (Ps.) which is based on the application of the International Financial Reporting Standards (IFRS).
1
1Q2022 highlights and subsequent events
-
On April 5, 2022, the General and Extraordinary Shareholders' Meeting of tgs (the "Meeting") was held, and among other matters, the following were approved:
- A Ps. 1,225 million increase in the Legal Reserve together with the constitution of a Reserve for Future Capital Expenditures, Acquisition of Treasury Shares and/or Dividends amounting to Ps. 72,885 million.
- To extend the term detailed in Article 67 of Law No. 26,831 and to maintain for an additional three-year term the 41,734,225 Class B treasury shares, which will be calculated as from November 11, 2022.
-
Within the framework of the investment plan executed by tgs for the development of Vaca Muerta, on April 29, 2022, a Decree No. 822/22 was published in the Official Gazette of the Province of Neuquén, which approved the extension of the natural gas transportation concession granted by Decree No. 379/18 in relation to the Vaca Muerta gas pipeline, while ratifying the complementary agreement signed on March 22, 2022 between tgs and the Province of Neuquén. This agreement includes the construction and operation of a new natural gas pipeline that will have an extension of 32.1 kilometers, running from Los Toldos to El Trapial areas, and will transport up to 17 MMm3/d of natural gas. The work is expected to be completed by June 2023.
-
On April 22, 2022, the Energy Secretariat issued Resolution No. 271/2022 extending until December 31, 2022 the transitory economic assistance of 20% on butane sold under the Plan Hogar.
Analysis of the results
Total revenues amounted to Ps. 28,596 million in 1Q2022, a Ps. 2,739 million decrease compared to Ps. 25,857 million in 1Q2021.
The breakdown of operating costs, administrative and commercialization expenses, excluding depreciation, for 1Q2022 and 1Q2021 is shown in the table below:
1Q2021
%
Operating costs and administrative and selling expenses, excluding depreciation, increased by approximately Ps. 3,341 million in 1Q2022 compared to 1Q2021. This variation is mainly explained by higher: (i) natural gas processing costs (higher prices), (ii) labor costs, and (iii) export taxes. These effects were partially offset by lower third-party fees and services, PPE repair expenses and turnover tax.
Financial results are presented in gross terms considering the effect of change in the currency purchasing power ("Gain on monetary position") in a single separate line. In 1Q2022, financial results experienced a positive variation of Ps. 1,893 million compared to 1Q2021. This variation is mainly due to a lower loss generated by financial assets of Ps. 3,021 million and a lower negative exchange difference of Ps. 1,438 million (as a consequence of the lower liability position in foreign currency during 1Q2022). These effects were partially offset by the lower gain on monetary position results of Ps. 2,272 million and the negative result following the notes repurchase of Ps. 605 million.
Natural Gas Transportation
Operating profit before depreciation of the Natural Gas Transportation segment decreased by Ps. 1,673 million.
Natural Gas Transportation
1Q2022
1Q2021 Variation
(In million of Argentine pesos)
Natural gas transportation revenues accounted for approximately 22% and 32% of total revenues in 1Q2022 and 1Q2021, respectively.
Revenues from this segment derive mainly from firm natural gas transportation contracts, which represented approximately 83% and 79% of the total revenues of this segment in 1Q2022 and 1Q2021, respectively.
Natural Gas Transportation Operational information
This tariff segment, subject to ENARGAS regulation, received its last tariff increase of 60% as of March 1, 2022 after no increments were recorded in the past three years.
The decrease in operating profit before depreciation was mainly due to lower revenues given the tariff adjustment which did not offset the negative variation associated with the inflation restatement effect under IAS 29.
Liquids Production and Commercialization
Liquids Production and Commercialization revenues accounted for approximately 70% and 59% of total revenues in 1Q2022 and 1Q2021, respectively. During 1Q2022, production reached 292,626 tons (5,245 tons higher than 1Q2021).
Production and Commercialization of Liquids
1Q2022 1Q2021 Variation Variation in %
(In million of Argentine pesos)
Operating profit before depreciation in this business segment during 1Q2022 was Ps. 831 million above 1Q2021, reaching Ps. 9,854 million (compared to Ps. 9,023 million recorded in 1Q2021). This variation mainly stems from the increase in revenues of Ps. 4,681 million, which were partially offset by higher natural gas processing costs of Ps. 2,803 million (resulting from a higher U.S. dollar-denominated price), a higher export withholding tax charge of Ps. 570 million and the positive effect of the insurance recovery of Ps. 359 million recorded in 1Q2021.
Liquids revenues were Ps. 19,974 million in 1Q2022, up Ps. 4,681 million from 1Q2021. This was mainly due to the increase in international reference prices of Ps. 4,555 million, higher tons shipped of Ps. 2,360 million and the nominal variation of the exchange rate in U.S. dollar-denominated revenues of Ps. 1,743 million.
These effects were partially offset by higher negative impact of the IAS 29 restatement of Ps. 4,842 million.
Total volumes dispatched recorded an increase of 17%, or 45,827 tons, compared to 1Q2021, mainly due to higher quantities of propane exported, and ethane and butane sold in the local market. On the other hand, the tons of propane delivered to the local market decreased as a result of the drop in seasonal demand.
The breakdown of volumes dispatched by market and product and revenues by market is included below:
This business segment mainly includes services such as midstream and telecommunications, representing approximately 9% of our total revenues in 1Q2022 and 1Q2021.
Other Services and Telecommunications
1Q2022 1Q2021 Variation Variation in %
(In million of Argentine pesos)
Operating profit before depreciation increased by Ps. 12 million mainly as a result of a Ps. 149 million increase in revenues in 1Q2022, which was partially offset by the increase in the operating costs of Ps. 140 million.
The increase in revenues was mainly due to: (i) higher natural gas transportation and conditioning services at Vaca Muerta area amounting to Ps. 537 million, (ii) the nominal effect of the exchange rate on U.S. dollar-denominated revenues of Ps. 210 million, and (iii) higher natural gas compression services of Ps. 133 million. These effects were partially offset by the impact of IAS 29 restatement of Ps. 739 million. | https://www.marketscreener.com/quote/stock/TRANSPORTADORA-DE-GAS-DEL-6501215/news/Transportadora-de-Gas-del-Sur-S-A-Results-1Q-2022-40323144/?utm_medium=RSS&utm_content=20220509 | 2022-05-09T22:16:25Z | https://www.marketscreener.com/quote/stock/TRANSPORTADORA-DE-GAS-DEL-6501215/news/Transportadora-de-Gas-del-Sur-S-A-Results-1Q-2022-40323144/?utm_medium=RSS&utm_content=20220509 | true | 1 |
BEDFORD, Mass. (AP) _ Ocular Therapeutix Inc. (OCUL) on Monday reported a loss of $12.5 million in its first quarter.
The Bedford, Massachusetts-based company said it had a loss of 22 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.
The biotechnology company posted revenue of $13.2 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $15 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OCUL at https://www.zacks.com/ap/OCUL | https://www.theheraldreview.com/business/article/Ocular-Therapeutix-Q1-Earnings-Snapshot-17160264.php | 2022-05-09T22:20:27Z | https://www.theheraldreview.com/business/article/Ocular-Therapeutix-Q1-Earnings-Snapshot-17160264.php | true | null |
Shelly Shaw, 55 May 7, 2022 May 7, 2022 0 Facebook Twitter WhatsApp SMS Email Facebook Twitter WhatsApp SMS Email Print Save Shelly Shaw, 55, of Wapato died Sunday, May 8.Arrangements are by Colonial Funeral Home, Toppenish, heggiescolonialfuneralhome.com. Facebook Twitter WhatsApp SMS Email Print Save × Add an entry Posting As Emoticons [smile] [beam] [wink] [sad] [cool] [innocent] [rolleyes] [whistling] [lol] [huh] [tongue] [love] [sleeping] [yawn] [unsure] [angry] [blink] [crying] [ohmy] [scared] [sleep] [sneaky] [tongue_smile] [thumbdown] [thumbup] [censored] [happybirthday] [ban] [spam] [offtopic] [batman] [ninja] [pirate] [alien] Comment Text CAPTCHA × Your entry has been submitted. × Report ×Reported ×There was a problem reporting this. × Watch the guestbook. Stop watching this guestbook. Watch this discussion Get an email notification whenever someone signs the guestbook. Notifications from this guestbook will end. (0) entries Sign the guestbook. Log in Add an entry Submit An ObituaryFuneral homes often submit obituaries as a service to the families they are assisting. However, we will be happy to accept obituaries from family members pending proper verification of the death. Go to form LOCAL FLORISTS John Gasperetti's Floral Design Findery Floral Jenny's Floral & Gifts Blossom Shop Flrsts Amy's Wapato Florist FUNERAL HOMES AND SERVICES Brookside Funeral Home Colonial Funeral Home Keith & Keith Funeral Home Langevin - El Paraíso Funeral Home Merritt Funeral Home Midstate Monuments Prosser Funeral Home Rainier Memorial Shaw & Sons Funeral Home Smith Funeral Homes & Crematory Steward & Williams Tribute & Cremation Center Terrace Heights Memorial Park Valley Hills Funeral Home West Hills Memorial Park
Submit An ObituaryFuneral homes often submit obituaries as a service to the families they are assisting. However, we will be happy to accept obituaries from family members pending proper verification of the death. Go to form | https://www.yakimaherald.com/obituaries/death_notices/shelly-shaw-55/article_c358b620-380f-5210-9403-81a995b57642.html | 2022-05-09T22:21:44Z | https://www.yakimaherald.com/obituaries/death_notices/shelly-shaw-55/article_c358b620-380f-5210-9403-81a995b57642.html | true | 588 |
LOS ANGELES — Nick Jonas and Priyanka Chopra were able to celebrate an extra special Mother's Day by bringing their daughter home after more than 100 days in the neonatal intensive care unit (NICU), Jonas said.
In a Twitter thread celebrating his family, Jonas said they were "overjoyed" to welcome their daughter home in time for Mother's Day. He did not disclose why their daughter had been in the NICU.
"Every family’s journey is unique and requires a certain level of faith, and while ours was a challenging few months, what becomes abundantly clear, in retrospect, is how precious and perfect every moment is," he continued.
The couple shared a photo of their infant daughter, her face hidden by a heart emoji. It had previously been reported that their daughter's name was Malti Marie Chopra Jonas.
Jonas and Chopra, who were married in 2019, announced the birth of their daughter in January, who they said they welcomed via surrogacy. The couple had asked the public for privacy at the time.
The couple had been open about their desire for kids, with Jonas previously saying he "definitely" wanted to be a father someday.
"I think that's a real dream, and I think I have had to grow up pretty quick," he said, according to Celebretainment. "With that, you could look at it two ways, you could say that was unfair, or you could say it has given me some real perspective at an early age. And I have seen a lot of life at an early age and I hope to be able to share that with a kid of my own someday." | https://www.wzzm13.com/article/news/nation-world/nick-jonas-brings-home-daughter-after-100-days-in-nicu/507-dfa7e18f-6e5b-464a-901f-056d7eb9aa49 | 2022-05-09T22:22:07Z | https://www.wzzm13.com/article/news/nation-world/nick-jonas-brings-home-daughter-after-100-days-in-nicu/507-dfa7e18f-6e5b-464a-901f-056d7eb9aa49 | false | 23 |
LATHAM, N.Y., May 09, 2022 (GLOBE NEWSWIRE) -- Plug Power Inc. ( PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, has announced today its 2022 first quarter results. The quarterly shareholder letter has been posted at https://www.ir.plugpower.com/Q122Plug.
A conference call will be held today, May 9, 2022.
- Time: 4:30 pm ET
- Toll-free: 877-407-9221 / 201-689-8597
- Direct webcast: https://event.webcasts.com/starthere.jsp?ei=1546052&tp_key=43e64828c1
Both the shareholder letter and webcast can be accessed at www.plugpower.com, on the company’s home and investor relations pages. A playback of the call will be available online for a period following the event.
About Plug Power Inc.
Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals.
Plug Power created the first commercially viable market for hydrogen fuel cell (HFC) technology. As a result, the Company has deployed over 50,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs.
Plug Power’s vertically integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.
SOURCE: PLUG POWER
Plug Power Media Contact
Caitlin Coffee
Allison+Partners
(312) 635-8204
[email protected] | https://www.gurufocus.com/news/1706795/plug-power-announces-2022-first-quarter-results | 2022-05-09T22:23:38Z | https://www.gurufocus.com/news/1706795/plug-power-announces-2022-first-quarter-results | false | 13 |
WHICH WOODEN DISH DRYING RACK IS BEST?
Whether or not you own a dishwasher, inevitably, you’ll end up washing some dishes by hand. Not all cookware is dishwasher-safe and sometimes you run out of clean cups between loads. A dish rack provides a place to air-dry your dishware in a tidy, organized fashion.
A wooden dish rack is a great alternative to a plastic one and can last longer. It’s also an eco-friendly choice. For a large rack, select one with three tiers, such as the Novayeah Bamboo Dish Drying Rack With Utensil Holder.
WHAT TO KNOW BEFORE YOU BUY A WOODEN DISH DRYING RACK
Benefits of a wooden dish rack
Wooden dish racks are made from bamboo, which is a sustainable and eco-friendly material. Using a bamboo dish rack good for the environment and for your body because the wood is naturally nontoxic and free of chemicals found in plastic. Bamboo is also durable and resistant to rot, moisture and heat. Lastly, wooden racks are attractive.
Types
Wooden dish racks can be divided into countertop and over-the-sink designs.
- Countertop dish racks are designed to rest on your countertop right by the sink. Be sure your counter has enough room for this type of rack. You’ll also need a dish drying mat or drain tray to place under the rack as wooden ones don’t come with one to keep your countertops dry as your dishes drip dry.
- Over-the-sink racks aren’t commonly made from wood but you can find select bamboo models that rest over the sink and drain directly into it, eliminating the need for a mat. They have a simple, flat design and work best in a double sink. They free up countertop space but also don’t have the capacity of countertop racks.
Tiers
Over-the-sink racks only have one tier, or level, to dry dishes. Countertop racks feature two to three tiers. Typically the top tier is designed for plates, lids, bowls and cutting boards. The lower tier or tiers are suitable for cups and small bowls. Three-tier dish holders take up the most countertop space but boast higher capacity for drying dishes.
Size
Wooden racks vary in size.
- Full-sized countertop racks typically measure around 14 by 9 by 6 inches.
- Compact countertop racks measure around 12 by 5 by 4 inches.
- Extra-large countertop racks can measure up to 19 by 17 by 10 inches.
- Over-the-sink racks don’t have a vertical measurement and typically measure 18 by 12 inches.
When buying any dish rack, be sure it’ll fit your countertop or sink space. With countertop models, make sure the height doesn’t interfere with low-hanging cabinets and can accommodate your tallest glasses.
WHAT TO LOOK FOR IN A QUALITY WOODEN DISH DRYING RACK
Collapsible
Many bamboo countertop dish racks are collapsible, meaning that they fold down for storage. Many users with limited space like the versatility to be able to collapse their rack when not in use and stash it against a wall or in a cabinet. Consider the measurements of the rack when collapsed if you plan to store it.
Utensil holder
A utensil holder, also called a caddy, is a desirable feature for a dish rack and yet quite a number of bamboo ones don’t have a separate flatware holder. While you can buy one separately, it’s best to look for a model that comes with one for an ensured fit. These are often removable and feature drainage holes. You can find ones divided in two sections for organization.
Plate rack
The simplest wooden dish rack is one designed for plates, lids and cutting boards. It features vertical bamboo pegs that create slots for drying flat cookware (but not flatware). You can use them to organize your cutting boards or store dishes.
How much you can expect to spend on a wooden dish rack
The simplest wooden dish drying racks, including plate racks and over-the-sink models, cost between $7-$27. Countertop models cost between $20-$80.
WOODEN DISH DRYING RACK FAQ
What are some other uses for a dish drying rack?
A. You can use a bamboo rack to dry your freshly washed fruit and vegetables before you store them. You can also use a compact or over-the-sink rack for organizing and storing plates and other dishware in a cabinet.
How do I keep a wooden drying rack clean?
A. To keep mildew at bay, you can wipe your bamboo rack clean with a mixture of vinegar and water. You can also wash it with mild soap and water, then air-dry it thoroughly. Periodically, treat the wood with bamboo oil to extend its lifetime.
WHAT’S THE BEST WOODEN DISH DRYING RACK TO BUY?
Top wooden dish drying rack
Novayeah Bamboo Dish Drying Rack With Utensil Holder
What you need to know: This three-tiered bamboo rack is a sturdy and stable buy and fits a lot of dishes.
What you’ll love: The unique, lowest tier lies flat and is a great addition for drying tall glasses. The wide-set slots allow for plenty of ventilation and speed up drying time. The large-capacity rack is collapsible and easy to store.
What you should consider: Even though the bamboo features a special coating, it can still develop mold if not properly cared for.
Where to buy: Sold by Amazon
Top wooden dish drying rack for the money
HBlife Store Bamboo Drying Rack
What you need to know: This simple dish rack is versatile as a plate holder and provides excellent value for the price.
What you’ll love: The bamboo pegs are sturdy and the rack is stable, so you don’t have to worry about your dishes breaking. The rack is attractive and a breeze to assemble. It doesn’t take up too much countertop space. It’s also great for drying reusable sandwich bags.
What you should consider: The bamboo is not treated and can develop mold.
Where to buy: Sold by Amazon
Worth checking out
Bambusi Store Collapsible Dish Drying Rack
What you need to know: A highly popular bamboo model, this tiny but mighty rack can hold your heavy pots and pans.
What you’ll love: This collapsible model is chic and brightens up any kitchen space. Its two-tier design is just the right size. Users are surprised by how much weight it can hold. Though easy to collapse and store, some users leave it out because it’s so attractive.
What you should consider: While most reviewers state that this rack resists mold, other reviewers have had issues with it developing.
Where to buy: Sold by Amazon
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Copyright 2022 BestReviews, a Nexstar company. All rights reserved. | https://www.wtnh.com/reviews/br/tools-br/best-wooden-dish-drying-rack/ | 2022-05-09T22:24:28Z | https://www.wtnh.com/reviews/br/tools-br/best-wooden-dish-drying-rack/ | true | 31 |
Ex-Toronto pastor loses second appeal of manslaughter conviction in pregnant wife's drowning
Philip Grandine's wife, Anna, drowned in a bathtub in 2011 and was found to have a sedative in her blood. Court heard she had discovered her husband had been having an affair
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TORONTO — A former Toronto pastor has lost an appeal against his conviction for manslaughter in the drowning death of his pregnant wife.
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Ontario’s Court of Appeal has also dismissed Philip Grandine’s appeal of the 15-year prison sentence handed to him in January 2020.
Grandine was granted bail days after being sentenced while he appealed his conviction following his second trial in the case.
His wife, Anna Karissa Grandine, was 20 weeks pregnant when she drowned in the couple’s bathtub in 2011.
Tests later revealed the 29-year-old woman had lorazepam, a sedative better known under the brand name Ativan, in her blood despite not having been prescribed it. Court heard she had discovered her husband had been having an affair.
Philip Grandine was initially charged with first-degree murder and convicted of manslaughter in 2014, but won a new trial on his first appeal. He was again convicted in February 2019 and launched another appeal after being sentenced.
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The Court of Appeal dismissed Grandine’s conviction and sentence appeals in a ruling released Monday.
In his second appeal, Grandine had raised three grounds against his conviction.
He argued the trial judge had made an error in part of her instructions to the jury related to whether he knew his wife had taken the sedative but didn’t take steps to ensure her safety.
He also argued that the pre-trial motion judge made an error in refusing to exclude evidence of computer searches including the word “autopsy,” suggesting it had little value at his retrial and was “prejudicial.”
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Grandine further argued that the trial judge gave the jury “inadequate instruction” for using out-of-court statements he made after the event, if they found such statements to have been lies.
In appealing his sentence, the former pastor argued, among other things, that the trial judge made an error in sentencing him as though he had been convicted of murder and that the sentence was “harsh and excessive.”
The Court of Appeal rejected Grandine’s arguments and wrote that there is “no basis to interfere with the sentence,” which was “fit and reasonable” in all the circumstances.
A few days before her death, Grandine’s wife suddenly experienced a number of symptoms she could not explain and had to be taken to the hospital, Grandine’s trial had heard. She underwent several tests, but was released because her symptoms faded, court heard.
She drowned in the bathtub a few days later, and investigators later tested her blood samples from the hospital, which were then found to contain Ativan.
In delivering her sentence, Superior Court Justice Faye McWatt had said Grandine was motivated by greed and an ill will towards his wife. | https://nationalpost.com/news/canada/ex-toronto-pastor-loses-second-appeal-of-manslaughter-conviction-in-pregnant-wifes-drowning | 2022-05-09T22:28:30Z | https://nationalpost.com/news/canada/ex-toronto-pastor-loses-second-appeal-of-manslaughter-conviction-in-pregnant-wifes-drowning | false | 7 |
MONDAY, MAY 9
HIGH SCHOOL
GIRLS GOLF
Clinton, Central DeWitt at MAC Championships, Kewanee Dunes, 9 a.m.; Monticello at Camanche, 4 p.m.; Cascade at Northeast, 4 p.m.;
BOYS GOLF
Camanche at Monticello, 4 p.m.; Norhteast at Cascade, 4 p.m.;
BOYS TRACK
Northeast at Bellevue, 4:30 p.m.;
BOYS TENNIS
Boys District Tennis
GIRLS TENNIS
Maquoketa at Central DeWitt, 4 p.m.;
GIRLS SOCCER
Maquoketa at Clinton High School, 5 p.m.; Muscatine at Central DeWitt, 6:30 p.m.;
BOYS SOCCER
Clinton at Davenport Central, 7 p.m.; Central DeWitt at North Scott, 6:30 p.m.;
BASEBALL
Fulton at Eastland, 4:30 p.m.;
SOFTBALL
Fulton at Scales Mound, 4:30 p.m.;
TUESDAY, MAY 10
HIGH SCHOOL
GIRLS TENNIS
Davenport Central at Clinton, 6 p.m.;
GIRLS SOCCER
North Scott at Central DeWitt, 6:30 p.m.; Clayton Ridge at Northeast, 5 p.m.;
WEDNESDAY, MAY 11
HIGH SCHOOL
GIRLS TENNIS
Girls Regionals
BOYS GOLF
Camanche, Northeast at Monticello Golf Course, Sectionals
GIRLS TRACK
Fulton at Bureau Valley, Sectionals, 4:30 p.m.;
BASEBALL
Sterling at Fulton, NelsonCorp Stadium, 4:30 p.m.;
SOFTBALL
Ridgewood at Fulton, 4:30 p.m.;
THURSDAY, MAY 12
HIGH SCHOOL
GIRLS TRACK
State qualifying
BOYS TRACK
State qualifying; Fulton at Lena-Winslow, NUIC Conference, 4 p.m.;
BOYS SOCCER
Davenport West at Prince of Peace, 6:40 p.m.;
BASEBALL
Fulton at River Ridge, 4:30 p.m.;
FRIDAY, MAY 13
HIGH SCHOOL
GIRLS SOCCER
Northeast at Clinton High School, 6 p.m.; Central DeWitt at Assumption, 7 p.m.;
BOYS SOCCER
Cascade at Prince of Peace, 5 p.m.;
SATURDAY, MAY 14
HIGH SCHOOL
MONDAY, MAY 16
HIGH SCHOOL
GIRLS GOLF
Multiple Schools at Valley Oaks, 3:15 p.m.;
BOYS SOCCER
Davenport North at Clinton High School, 6:30 p.m.; Assumption at Central DeWitt, 5 p.m.;
GIRLS SOCCER
Central DeWitt at Anamosa, 4:30 p.m.;
TUESDAY, MAY 17
HIGH SCHOOL
GIRLS SOCCER
Clinton at Davenport North, 4:30 p.m.;
BASEBALL
WEDNESDAY, MAY 18
HIGH SCHOOL
GIRLS GOLF
Varsity Regionals
THURSDAY, MAY 19
HIGH SCHOOL
IOWA STATE TRACK MEET, DRAKE STADIUM, DES MOINES
ILLINOIS GIRLS STATE TRACK MEET, CHAMPAIGN
BOYS TRACK
Fulton at Erie, Sectionals, 4 p.m.;
FRIDAY, MAY 20
HIGH SCHOOL
IOWA STATE TRACK MEET, DRAKE STADIUM, DES MOINES
ILLINOIS GIRLS STATE TRACK MEET, CHAMPAIGN
SATURDAY, MAY 21
HIGH SCHOOL
IOWA STATE TRACK MEET, DRAKE STADIUM, DES MOINES
ILLINOIS GIRLS STATE TRACK MEET, CHAMPAIGN
MONDAY, MAY 23
HIGH SCHOOL
BASEBALL
Clinton at Dubuque Hempstead, 3:30 p.m.;Camanche at Central DeWitt, 6:30 p.m. ; Northeast at Cascade, 7 p.m.; Alburnett at Easton VAlley, doubleheader, 5 p.m.;
SOFTBALL
Camanche at Central DeWitt, 6:30 p.m.; Northeast at Cascade, 7 p.m.; Alburnett at Easton Valley, doubleheader, 5 p.m.;
TUESDAY, MAY 24
HIGH SCHOOL
SOFTBALL
Clinton at Maquoketa, doubleheader, 5:30 p.m.; Central DeWitt at Cascade, 7 p.m.; Camanche at Monticello, 7 p.m.; Anamosa at Northeast, 7 p.m.;
BASEBALL
Central DeWitt at Solon, 7 p.m.; Camanche at Monticello , 7 p.m.; Anamosa at Northeast, 7 p.m.;
WEDNESDAY, MAY 25
HIGH SCHOOL
BASEBALL
Central DeWitt at Northeast, 7 p.m.; Bellevue to Camanche, 7 p.m.;
SOFTBALL
Bellevue at Camanche High School, 7 p.m.;
THURSDAY, MAY 26
HIGH SCHOOL
BASEBALL
Clinton at Iowa City High, 7 p.m.; Durant at Camanche, 7 p.m.; West Branch at Northeast, 7 p.m.; Edgewood Colesburg at Prince of Peace, NelsonCorp Field, 5 p.m.; Easton Valley at Calamus-Wheatland, doubleheader, 5 p.m.;
SOFTBALL
Durant at Camanche, 7 p.m.; West Branch at Northeast, 7 p.m.; Easton Valley at Calamus-Wheatland, doubleheader, 5 p.m.;
FRIDAY, MAY27
HIGH SCHOOL
BASEBALL
Clinton at Fort Dodge, 4 p.m.; Clinton at Sioux City East, 8 p.m.; Keokuk at Central DeWitt, 6:30 p.m.; Easton Valley at Anamosa, 5 p.m.;
SOFTBALL
Clinton at Northeast, 6:30 p.m.; Central DeWitt at Wilton, doubleheader, 5 p.m.; Easton Valley at Anamosa, 5 p.m.;
SATURDAY, MAY 28
HIGH SCHOOL
SOFTBALL
Central DeWitt, Northeast at Cedar Rapids Jefferson Classic, 10:30 a.m.; | https://www.clintonherald.com/in-the-area/article_1f729b20-cfd6-11ec-8950-8b8bac2ffdbc.html | 2022-05-09T22:31:12Z | https://www.clintonherald.com/in-the-area/article_1f729b20-cfd6-11ec-8950-8b8bac2ffdbc.html | true | 2 |
Arizona high court tosses push to disqualify GOP lawmakers
PHOENIX (AP) — The Arizona Supreme Court on Monday rejected an effort to disqualify three Republican lawmakers from this year’s ballot because of their alleged roles in planning or attending the rally that led to the unprecedented attack on Congress on Jan. 6, 2021.
The ruling means U.S. Reps. Paul Gosar and Andy Biggs and state Rep. Mark Finchem remain on the primary ballot. Gosar and Biggs are seeking reelection and Finchem is running to try to become Secretary of State, Arizona’s chief election officer.
The lawsuits filed on behalf of a handful of Arizona voters alleged that Gosar, Biggs and Finchem cannot hold office because they participated in an insurrection. The lawsuits cited a section of the 14th Amendment to the U.S. Constitution enacted after the Civil War known as the “disqualification clause.”
The justices ruled that alleged violations of the disqualification clause are not grounds for challenging candidates’ eligibility for office under Arizona law. The decision upholds a ruling by the Maricopa County Superior Court.
None of the lawmakers are accused of participating in the actual attack on Congress that was aimed at halting certification of President Joe Biden’s win over former President Donald Trump.
Copyright 2022 The Associated Press. All rights reserved. | https://www.witn.com/2022/05/09/arizona-high-court-tosses-push-disqualify-gop-lawmakers/ | 2022-05-09T22:32:25Z | https://www.witn.com/2022/05/09/arizona-high-court-tosses-push-disqualify-gop-lawmakers/ | true | 26 |
GREAT NECK, N.Y. (AP) _ BRT Realty Trust (BRT) on Monday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Great Neck, New York, said it had funds from operations of $7.2 million, or 39 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $11.5 million, or 65 cents per share.
The real estate investment trust posted revenue of $11.4 million in the period.
The company's shares have decreased 18% since the beginning of the year. In the final minutes of trading on Monday, shares hit $19.57, a climb of 7% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRT at https://www.zacks.com/ap/BRT | https://www.expressnews.com/business/article/BRT-Q1-Earnings-Snapshot-17160279.php | 2022-05-09T22:33:58Z | https://www.expressnews.com/business/article/BRT-Q1-Earnings-Snapshot-17160279.php | true | 33 |
WINk (WIN) traded flat against the dollar during the 1-day period ending at 17:00 PM E.T. on May 9th. One WINk coin can currently be bought for approximately $0.0013 or 0.00000002 BTC on popular exchanges. WINk has a total market cap of $403.24 million and $433.71 million worth of WINk was traded on exchanges in the last day. Over the last seven days, WINk has traded flat against the dollar.
Here’s how other cryptocurrencies have performed over the last day:
- holoride (RIDE) traded 10.3% lower against the dollar and now trades at $0.80 or 0.00002558 BTC.
- CoinField Coin (CFC) traded 11.4% lower against the dollar and now trades at $0.51 or 0.00001623 BTC.
- Volt Inu V2 (VOLT) traded down 25.3% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Kleros (PNK) traded 12% lower against the dollar and now trades at $0.0493 or 0.00000158 BTC.
- Validity (VAL) traded down 14.1% against the dollar and now trades at $2.21 or 0.00007072 BTC.
- Global Coin Research (GCR) traded down 1.6% against the dollar and now trades at $2.23 or 0.00007114 BTC.
- Particl (PART) traded 1.2% lower against the dollar and now trades at $0.65 or 0.00002082 BTC.
- Wagerr (WGR) traded down 16% against the dollar and now trades at $0.0143 or 0.00000046 BTC.
- Ratio Finance (RATIO) traded 1.9% lower against the dollar and now trades at $1.03 or 0.00003303 BTC.
- Team Finance (TEAM) traded flat against the dollar and now trades at $2.58 or 0.00008136 BTC.
About WINk
According to CryptoCompare, “By creating a whole mining ecosystem, WINk will revolutionize the way that developers adopt the blockchain ecosystem while keeping wealth redistribution at its core. WIN will continue to be the centerpiece of the platform while developers will be able to utilize everything the WINk ecosystem has to offer. By taking behavioral mining to the next level, traditional apps will now have all the resources at their disposal to convert their apps to the TRON blockchain. “
Buying and Selling WINk
It is usually not possible to purchase alternative cryptocurrencies such as WINk directly using U.S. dollars. Investors seeking to trade WINk should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase WINk using one of the aforementioned exchanges.
Receive News & Updates for WINk Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for WINk and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter. | https://www.wkrb13.com/2022/05/09/wink-win-price-hits-0-0013-on-exchanges.html | 2022-05-09T22:34:24Z | https://www.wkrb13.com/2022/05/09/wink-win-price-hits-0-0013-on-exchanges.html | true | 11 |
CAMBRIDGE, Mass. (AP) _ CarGurus Inc. (CARG) on Monday reported a first-quarter loss of $62.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 53 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 36 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The online auto shopping platform posted revenue of $430.6 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $405.2 million.
For the current quarter ending in July, CarGurus expects its per-share earnings to range from 26 cents to 29 cents.
The company said it expects revenue in the range of $480 million to $510 million for the fiscal second quarter.
CarGurus shares have decreased 11% since the beginning of the year. In the final minutes of trading on Monday, shares hit $29.83, an increase of 9% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CARG at https://www.zacks.com/ap/CARG | https://www.expressnews.com/business/article/CarGurus-Q1-Earnings-Snapshot-17160236.php | 2022-05-09T22:35:04Z | https://www.expressnews.com/business/article/CarGurus-Q1-Earnings-Snapshot-17160236.php | false | 28 |
NEW YORK (AP) _ Aterian, Inc. (ATER) on Monday reported a loss of $42.8 million in its first quarter.
The New York-based company said it had a loss of 78 cents per share. Losses, adjusted for asset impairment costs, came to 25 cents per share.
The company posted revenue of $41.7 million in the period.
In the final minutes of trading on Monday, the company's shares hit $3.99. A year ago, they were trading at $15.28.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ATER at https://www.zacks.com/ap/ATER | https://www.thetelegraph.com/business/article/Aterian-Q1-Earnings-Snapshot-17160396.php | 2022-05-09T22:35:46Z | https://www.thetelegraph.com/business/article/Aterian-Q1-Earnings-Snapshot-17160396.php | false | null |
PHILADELPHIA (AP) _ FS KKR Capital Corp. (FSK) on Monday reported first-quarter earnings of $225 million.
The Philadelphia-based company said it had net income of 79 cents per share. Earnings, adjusted for non-recurring gains and investment gains, were 72 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The business development company posted revenue of $396 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $356.5 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FSK at https://www.zacks.com/ap/FSK | https://www.chron.com/business/article/FS-KKR-Capital-Q1-Earnings-Snapshot-17160474.php | 2022-05-09T22:35:51Z | https://www.chron.com/business/article/FS-KKR-Capital-Q1-Earnings-Snapshot-17160474.php | false | null |
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For inquiries related to this message please contact our support team and provide the reference ID below. | https://www.bloomberg.com/tosv2.html?vid=&uuid=67e6150a-cfe8-11ec-905f-6c6879794169&url=L3Byb2ZpbGUvY29tcGFueS84MTYzMTY5WjpTUA== | 2022-05-09T22:36:22Z | https://www.bloomberg.com/tosv2.html?vid=&uuid=67e6150a-cfe8-11ec-905f-6c6879794169&url=L3Byb2ZpbGUvY29tcGFueS84MTYzMTY5WjpTUA== | false | null |
BOARDWALK REIT REPORTS SOLID FIRST QUARTER RESULTS, WITH INCREASING OCCUPANCY AND FURTHER POSITIVE LEASING MOMENTUM INTO THE SPRING
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- BOWFF
SUMMARY HIGHLIGHTS FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2022
STRONG FINANCIAL PERFORMANCE
SOLID OPERATIONAL RESULTS DESPITE NON-CONTROLLABLE EXPENSE INFLATION
POST-QUARTER LEASING STRENGTH
FLEXIBLE FINANCIAL POSITION
ACCRETIVE AND STRATEGIC CAPITAL ALLOCATION
UPDATE TO 2022 FINANCIAL GUIDANCE FOR INCREASED VOLATILITY IN UTILITY AND INTEREST COSTS
CALGARY, AB, May 9 2022 /PRNewswire/ - Boardwalk Real Estate Investment Trust (TSX: BEI.UN)
Boardwalk Real Estate Investment Trust ("Boardwalk", the "REIT" or the "Trust") today announced its financial results for the first quarter of 2022.
Sam Kolias; Chairman and Chief Executive Officer of Boardwalk REIT commented:
"We are pleased to report on another solid quarter to begin 2022, with growth in NOI, FFO, and Profit through the Omicron wave of the pandemic and non-controllable cost inflation primarily in our utilities expense through the winter months.
As we look forward to our busy spring and summer leasing season, we have seen significant leasing gains with our May occupancy increasing to 96.6%. Leasing spreads on both renewals and new leases have seen strong improvement, and in our largest market of Alberta, have seen renewal spreads increase to 4.7% in the month of April. New lease spreads have also turned positive with housing fundamentals improving in each of our markets allowing for incentive reductions and positive rental rate growth.
Increased interest rates and anticipated significantly higher utility costs in 2022 present a current headwind for community providers, however, our portfolio of affordable, unregulated, and high quality apartment communities is positioned to produce sustainable rental rate adjustments that allow Boardwalk to further build on our strong financial foundation."
FIRST QUARTER FINANCIAL HIGHLIGHTS
The Trust's IFRS fair value of its investment properties for the three months ended March 31, 2022 increased from the previous quarter, primarily as a result of increased market rents in some of its markets reflecting improving rental fundamentals.
SOLID OPERATIONAL RESULTS
The Trust maintained high occupancy compared to the same period a year ago by focusing on gaining market share and retention. Market rents were increased in communities within some of the Trust's markets where rental market fundamentals continue to tighten while average occupied rent increased sequentially and when compared to the same period a year ago as the Trust focuses on reducing incentives on lease renewals and minimizing incentives on new leases in its stronger markets.
For the first quarter of 2022, a same property rental revenue increase of 2.1% combined with a same property total rental expense increase of 3.2%, resulted in same property NOI growth of 1.2%.
During the quarter, lower vacancy loss and incentives supported Boardwalk's Calgary portfolio increase in same property NOI of 6.5%, while in Edmonton, cost savings from lower property taxes and other operating expenses were offset by higher utilities expense resulting in NOI growth remaining flat for the first quarter of 2022 compared to the first quarter of 2021. Saskatchewan's market continues to improve with the Trust's portfolio realizing 12.3% same property NOI growth in the first quarter of 2022 versus the same period last year, as a result of strong same property revenue growth and a reduction in expenses related to tv and internet services provided to Boardwalk's Resident Members in the province. In Ontario, the mark-to-market opportunity on turnover, offset by growth in non-controllable and controllable expenses, contributed to same property NOI growth of 1.1% in the first quarter of 2022 compared to the first quarter of 2021. In Quebec, increases in non-controllable expenses such as property taxes, utilities and insurance and certain controllable expense categories more than offset positive same property revenue growth resulting in same property NOI decrease of 8.8% in the first quarter of 2022 compared to the first quarter of 2021.
STRONG LIQUIDITY POSITION
In the first quarter, Boardwalk renewed its maturing mortgages at a weighted average interest rate of 2.44% while extending the term of these mortgages by an average of five years.
For the remainder of 2022, the Trust anticipates $400.8 million of mortgages payable maturing with an average in-place interest rate of 2.66% and will continue to renew these mortgages as they mature. Current market 5 and 10-year CMHC financing rates are estimated to be 3.70% and 4.00%, respectively. While interest rates have increased significantly since the beginning of March, the Trust remains positioned with a balanced laddered maturity schedule within its mortgage program, a disciplined capital allocation program and continued use of CMHC funding, which decreases the renewal risk on its existing mortgages.
ACCRETIVE AND STRATEGIC CAPITAL ALLOCATION
The Trust remains committed to re-investing retained cashflow and the net proceeds from the sale of non-core assets toward opportunities that are both accretive to FFO per Unit in the near-term and significantly enhance the NAV per Unit of the Trust over the intermediate term.
As previously announced, on March 30, 2022, the Trust acquired a property in Brampton, Ontario comprised of 152 suites and a property in Canmore, Alberta comprised of 148 suites. The combined purchase price for these two properties was $118.8 million (including transaction costs). The acquisition provides immediate FFO per Unit accretion and exposure to two growing and under-supplied housing markets. Peak Estates in Canmore is an A-class community built in 2018 featuring large unit sizes, modern finishes and 6 in-suite appliances. The property expands the Trust's portfolio in the Banff and Canmore corridor to over 300 suites. Ardglen Place in Brampton features desirable townhouse suites and offers significant value-add potential for the Trust. In addition, Ardglen Place is located a short drive from the Trust's 45 Railroad development, which is currently pre-leasing and is expected to come online in Q4 2022.
Subsequent to the end of the first quarter, the Trust removed conditions on the purchase of a development site in View Royal (Victoria) at 339 – 345 Island Highway. The purchase price is $12.0 million and the transaction is expected to close in the second quarter of 2022. The site strengthens the Trust's long-term development pipeline in the Victoria area and is located a short drive from the Trust's two other development sites, Aspire in View Royal and The Marin in Esquimalt.
During the fourth quarter of 2021, the Trust announced that it received approval from the Toronto Stock Exchange (the "TSX") to commence a normal course issuer bid ("NCIB"). The Trust continues to view its own portfolio as offering un-paralleled value in the multi-family sector and believes its current unit price represents an attractive opportunity for re-investment. During the first quarter, the Trust re-purchased 137,500 Trust Units at a volume-weighted average price of $55.25 for a total price of approximately $7.6 million.
UPDATE TO 2022 FINANCIAL GUIDANCE
In February, the Trust introduced its financial guidance for 2022 and is providing an update to incorporate increased interest costs and utility expense expectations, which are largely a result of recent macroeconomic and geopolitical events.
The Trust's outlook on revenue growth remains strong as housing fundamentals continue to improve in many of its core markets.
FIRST QUARTER REGULAR MONTHLY DISTRIBUTION ANNOUNCEMENT
The Trust has confirmed its regular monthly distributions for the months of May 2022, June 2022, and July 2022 as follows:
In line with Boardwalk's distribution policy of maximum re-investment, the Trust's payout ratio remains conservative at 37.6% of Q1 2022 FFO; and 43.7% of the last 12 months FFO.
Boardwalk's regular monthly distribution was recently increased by 8% in March of 2022 and provides a stable and attractive yield for the Trust's unitholders.
THIRD ANNUAL ESG REPORT
The Trust is, and continues to be, committed to environmental, social and governance ("ESG") objectives and initiatives, including working towards reducing greenhouse gas emissions and electricity and natural gas consumption, water conservation, waste minimization, and a continued focus on governance and oversight. In March, Boardwalk published its third annual ESG report. The ESG report, along with the Trust's Annual report, are available digitally on Boardwalk's website and under the Trust's profile at www.sedar.com.
FINANCIAL AND SUPPLEMENTARY INFORMATION
Boardwalk produces quarterly financial statements, management's discussion and analysis, and a supplemental information package that provides detailed information regarding the Trust's activities during the quarter. Financial and supplementary information is available on Boardwalk's investor website at www.bwalk.com/investors.
TELECONFERENCE ON FIRST QUARTER 2022 FINANCIAL RESULTS
Boardwalk invites you to participate in the teleconference that will be held to discuss these results tomorrow morning (May 10, 2022) at 11:00 am Eastern Time (9:00 am Mountain). Senior management will speak to the period's results and provide an update. Presentation materials will be made available on Boardwalk's investor website at www.bwalk.com/investors prior to the call.
Teleconference: The telephone numbers for the conference are 416-764-8650 (local/international callers) or toll-free 1-888-664-6383 (within North America).
Note: Please provide the operator with the below Conference Call ID or Topic when dialing in to the call.
Conference ID: 85957330
Topic: Boardwalk Real Estate Investment Trust, 2022 First Quarter Results
Webcast: Investors will be able to listen to the call and view Boardwalk's slide presentation by visiting www.bwalk.com/investors prior to the start of the call.
An information page will be provided for any software needed and system requirements. The webcast and slide presentation will also be available at:
Boardwalk REIT First Quarter Results Webcast Link
Replay: An audio recording of the teleconference will be available on the Trust's website:
www.bwalk.com/investors
CORPORATE PROFILE
Boardwalk REIT strives to be Canada's friendliest community provider and is a leading owner/operator of multi-family rental communities. Providing homes in more than 200 communities, with over 33,000 residential units totaling over 28 million net rentable square feet, Boardwalk has a proven long-term track record of building better communities, where love always livestm. Our three-tiered and distinct brands: Boardwalk Living, Boardwalk Communities, and Boardwalk Lifestyle, cater to a large diverse demographic and has evolved to capture the life cycle of all Resident Members. Boardwalk's disciplined approach to capital allocation, acquisition, development, purposeful re-positioning, and management of apartment communities allows the Trust to provide its brand of community across Canada creating exceptional Resident Member experiences. Differentiated by its peak performance culture, Boardwalk is committed to delivering exceptional service, product quality and experience to our Resident Members who reward us with high retention and market leading operating results, which in turn, lead to higher free cash flow and investment returns, stable monthly distributions, and value creation for all our stakeholders.
Boardwalk REIT's Trust units are listed on the Toronto Stock Exchange, trading under the symbol BEI.UN. Additional information about Boardwalk REIT can be found on the Trust's website at www.bwalk.com/investors.
PRESENTATION OF NON-GAAP MEASURES
Non-GAAP Financial Measures
Boardwalk believes non-GAAP financial measures are meaningful and useful measures of real estate organizations operating performance, however, are not measures defined by IFRS. As they do not have standardized meanings prescribed by IFRS, they therefore may not be comparable to similar measurements presented by other entities and should not be construed as an alternative to IFRS defined measures. Below are the non-GAAP financial measures referred to in this Earnings Release.
Funds From Operations
The IFRS measurement most comparable to FFO is profit. Boardwalk REIT considers FFO to be an appropriate measurement of the performance of a publicly listed multi-family residential entity as it is the most widely used and reported measure of real estate investment trust performance. Profit (loss) includes items such as fair value changes of investment property that are subject to market conditions and capitalization rate fluctuations which are not representative of recurring operating performance. We define FFO as adjustments to profit (loss) for fair value gains or losses, distributions on the LP Class B Units, gains or losses on the sale of the Trust's investment properties, depreciation, deferred income tax, and certain other non-cash adjustments, if any, but after deducting the principal repayment on lease liabilities and adding the principal repayment on lease receivables. The reconciliation from profit (loss) under IFRS to FFO can be found below. The Trust uses FFO to assess operating performance and its distribution paying capacity, determine the level of Associate incentive-based compensation, and decisions related to investment in capital assets. To facilitate a clear understanding of the combined historical operating results of Boardwalk REIT, management of the Trust believes FFO should be considered in conjunction with profit as presented in the condensed consolidated interim financial statements for the three months ended March 31, 2022 and 2021.
Adjusted Funds From Operations
Similar to FFO, the IFRS measurement most comparable to AFFO is profit. Boardwalk REIT considers AFFO to be an appropriate measurement of a publicly listed multi-family residential entity as it measures the economic performance after deducting for maintenance capital expenditures to the existing portfolio of investment properties. AFFO is determined by taking the amounts reported as FFO and deducting what is commonly referred to as "Maintenance Capital Expenditures". Maintenance Capital Expenditures are referred to as expenditures that, by standard accounting definition, are accounted for as capital in that the expenditure itself has a useful life in excess of the current financial year and maintains the value of the related assets. The reconciliation of AFFO can be found below. The Trust uses AFFO to assess operating performance and its distribution paying capacity, and decisions related to investment in capital assets.
Adjusted Real Estate Assets
The IFRS measurement most comparable to Adjusted Real Estate Assets is investment properties. Adjusted Real Estate Assets is comprised of investment properties, equity accounted investment, and cash and cash equivalents. Adjusted Real Estate Assets is useful in summarizing the real estate assets owned by the Trust and it is used in the calculation of NAV, which management of the Trust believes is a useful measure in estimating the entity's value. The reconciliation from Investment Properties under IFRS to Adjusted Real Estate Assets can be found on the following page, under Net Asset Value.
Adjusted Real Estate Debt
The IFRS measurement most comparable to Adjusted Real Estate Debt is mortgages payable. Adjusted Real Estate Debt is comprised of total mortgage principal outstanding, total lease liabilities attributable to land leases, and construction loan payable. It is useful in summarizing the Trust's debt which is attributable to its real estate assets and is used in the calculation of NAV, which management of the Trust believes is a useful measure in estimating the entity's value. The reconciliation from Mortgages Payable under IFRS to Adjusted Real Estate Debt can be found below under Net Asset Value.
Net Asset Value
The IFRS measurement most comparable to NAV is Unitholders' equity. With real estate entities, NAV is the total value of the entity's investment properties and cash minus the total value of the entity's debt. The Trust determines NAV by taking Adjusted Real Estate Assets and subtracting Adjusted Real Estate Debt, which management of the Trust believes is a useful measure in estimating the entity's value. The reconciliation from Unitholders' equity under IFRS to Net Asset Value is below.
Non-GAAP Ratios
The discussion below outlines the non-GAAP ratios used by the Trust. Each non-GAAP ratio has a non-GAAP financial measure as one or more of its components, and, as a result, do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar financial measurements presented by other entities. Non-GAAP financial measures should not be construed as alternatives to IFRS defined measures.
FFO per Unit, AFFO per Unit, and NAV per Unit
FFO per Unit includes the non-GAAP financial measure FFO as a component in the calculation. The Trust uses FFO per Unit to assess operating performance on a per Unit basis, as well as determining the level of Associate incentive-based compensation.
AFFO per Unit includes the non-GAAP financial measure AFFO as a component in the calculation. The Trust uses AFFO per Unit to assess operating performance on a per Unit basis and its distribution paying capacity.
NAV per Unit includes the non-GAAP financial measure NAV as a component in the calculation. Management of the Trust believes it is a useful measure in estimating the entity's value on a per Unit basis, which an investor can compare to the entity's Trust Unit price which is publicly traded to help with investment decisions.
FFO per Unit and AFFO per Unit, are calculated by taking the non-GAAP ratio's corresponding non-GAAP financial measure and dividing by the weighted average Trust Units outstanding for the period on a fully diluted basis, which assumes conversion of the LP Class B Units and vested deferred units determined in the calculation of diluted per Trust Unit amounts in accordance with IFRS.
NAV per Unit is calculated as NAV divided by the Trust Units outstanding as at the reporting date on a fully diluted basis which assumes conversion of the LP Class B Units and vested deferred units outstanding.
FFO per Unit Future Financial Guidance
FFO per Unit Future Financial Guidance is calculated as FFO Future Financial Guidance divided by the estimated weighted average Trust Units and LP Class B Units outstanding throughout the year. Boardwalk REIT considers FFO per Unit Future Financial Guidance to be an appropriate measurement of the estimated future financial performance based on information currently available to management of the Trust at the date of this Earnings Release.
AFFO per Unit Future Financial Guidance
AFFO per Unit Future Financial Guidance is calculated as AFFO Future Financial Guidance divided by the estimated weighted average Trust Units and LP Class B Units outstanding throughout the year. Boardwalk REIT considers AFFO per Unit Future Financial Guidance to be an appropriate measurement of the estimated future profitability based on information currently available to management of the Trust at the date of this Earnings Release.
FFO Payout Ratio
FFO Payout Ratio represents the REIT's ability to pay distributions. This non-GAAP ratio is computed by dividing regular distributions paid on the Trust Units and LP Class B Units by the non-GAAP financial measure of FFO.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
Information in this news release that is not current or historical factual information may constitute forward-looking statements and information (collectively, "forward-looking statements") within the meaning of securities laws. The use of any of the words "expect", "anticipate", "may", "will", "should", "believe", "intend" and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include Boardwalk's financial guidance for fiscal 2022, expected distributions for May, June, and July 2022, and accretive capital recycling opportunities. Implicit in these forward-looking statements, particularly in respect of Boardwalk's objectives for its current and future periods, Boardwalk's strategies to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, assumptions, intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations are estimates and assumptions subject to risks and uncertainties, including those described in its Management's Discussion & Analysis of Boardwalk under the heading "Risk and Risk Management", which could cause Boardwalk's actual results to differ materially from the forward-looking statements contained in this news release. Specifically, Boardwalk has made assumptions surrounding the impact of economic conditions in Canada and globally including as a result of the COVID-19 pandemic, Boardwalk's future growth potential, prospects and opportunities, the rental environment compared to several years ago, relatively stable interest costs, access to equity and debt capital markets to fund (at acceptable costs), the future growth program to enable the Trust to refinance debts as they mature, the availability of purchase opportunities for growth in Canada, general industry conditions and trends, changes in laws and regulations including, without limitation, changes in tax laws, mortgage rules and other temporary legislative changes in light of the COVID-19 pandemic, increased competition, the availability of qualified personnel, fluctuations in foreign exchange or interest rates, and stock market volatility. These assumptions, although considered reasonable by the Trust at the time of preparation, may prove to be incorrect.
This news release also contains future-oriented financial information and financial outlook information (collectively "FOFI") about Boardwalk's same property NOI growth, FFO per Unit, and AFFO per Unit guidance for fiscal 2022. Boardwalk has included the FOFI for the purpose of providing further information about the Trust's anticipated future business operation.
For more exhaustive information on the risks and uncertainties in respect of forward-looking statements and FOFI you should refer to Boardwalk's Management's Discussion & Analysis and Annual Information Form for the year ended December 31, 2021 under the headings "Risk and Risk Management" and "Challenges and Risks", respectively, which are available at www.sedar.com. Forward-looking statements and FOFI contained in this news release are made as of the date of this news release and are based on Boardwalk's current estimates, expectations and projections, which Boardwalk believes are reasonable as of the current date. You should not place undue importance on forward-looking statements or FOFI and should not rely upon forward-looking statements or FOFI as of any other date. Except as required by applicable law, Boardwalk undertakes no obligation to publicly update or revise any forward-looking statement or FOFI, whether a result of new information, future events, or otherwise.
View original content:https://www.prnewswire.com/news-releases/boardwalk-reit-reports-solid-first-quarter-results-with-increasing-occupancy-and-further-positive-leasing-momentum-into-the-spring-301543100.html
SOURCE Boardwalk Real Estate Investment Trust | https://finance.yahoo.com/news/boardwalk-reit-reports-solid-first-214300532.html | 2022-05-09T22:39:17Z | https://finance.yahoo.com/news/boardwalk-reit-reports-solid-first-214300532.html | true | 26 |
- Reported net income of $81 million grew 19% and earnings per diluted share (EPS) of $0.45 increased 22%
- Adjusted EPS of $0.48 was flat and adjusted EBITDA of $158 million improved 1%
- Sales grew 26% to $886 million driven by strong demand and pricing actions
- Retail Services sales grew 23% with system-wide same-store sales (SSS) increasing 13.1% and net system-wide unit additions of 7%
- Global Products sales increased 29% primarily driven by volume growth of 9% and pricing actions
- Returned $57 million in cash to shareholders via dividends and share repurchases
- Reiterates full-year guidance for adjusted EBITDA of $675 to $700 million and adjusted EPS of $2.07 to $2.20
LEXINGTON, Ky., May 9, 2022 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV), a global leader in vehicle care powering the future of mobility through innovative services and products, today reported financial results for its second fiscal quarter ended March 31, 2022. All comparisons in this press release are made to the same prior-year period unless otherwise noted.
"Valvoline continues to generate outstanding top-line results, reflecting ongoing strong demand for our products and services," said Sam Mitchell, CEO. "Our performance was driven by ongoing share gains, price increases to recover cost inflation and continued strong operational execution by our team.
"Sales increased 23% in Retail Services driven by 13% same-store sales growth and a 7% increase in units. Profitability was impacted by the current inflationary environment, increasing labor and product costs. We have executed appropriate pricing actions which will improve profitability in Q3 and Q4.
"Global Products sales increased by an impressive 29%, highlighting strong volume growth of 9% and continued success in price pass-through of raw material cost increases. The volume growth we are seeing is broad-based and an indicator of continued share gains and our ability to meet customer demand despite supply chain challenges. Our unit margins continue to improve sequentially, and we are confident that we will recover cost increases with price pass-through – as we have done in prior periods of inflation."
Operating Segment Results
Balance Sheet and Cash Flow
- Total debt of approximately $1.7 billion and net debt of approximately $1.6 billion
- Year-to-date cash flow from operations of $96 million and free cash flow of $29 million
- Returned $35 million of cash to shareholders via share repurchases and $22 million via dividends during the quarter
Outlook
"We are reaffirming our full-year profitability guidance despite a challenging supply chain and raw material environment, highlighting superior execution, the quality of our business and strong pricing power," said Mitchell. "Our adjusted EBITDA guidance represents high-single digit growth driven by share gains and pricing actions.
"Both segments remain healthy, and our separation process remains on track."
Information regarding the Company's outlook for fiscal 2022 is provided in the table below:
Valvoline's outlook for adjusted EBITDA, adjusted EPS, free cash flow and the adjusted effective tax rate are non-GAAP financial measures that are expected to be impacted by items affecting comparability. Valvoline is unable to reconcile these forward-looking non-GAAP financial measures to the comparable GAAP measures estimated for fiscal 2022 without unreasonable efforts, as the Company is currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact these GAAP measures in fiscal 2022 but would not impact non-GAAP adjusted results.
Conference Call Webcast
Valvoline will host a live audio webcast of its fiscal second quarter 2022 conference call at 9 a.m. ET on Tuesday, May 10, 2022. The webcast and supporting materials will be accessible through Valvoline's website at http://investors.valvoline.com. Following the live event, an archived version of the webcast and supporting materials will be available.
Key Business Measures
Valvoline tracks its operating performance and manages its business using certain key measures, including system-wide, company-operated and franchised store counts and SSS; system-wide store sales; and lubricant volumes sold. Management believes these measures are useful to evaluating and understanding Valvoline's operating performance and should be considered as supplements to, not substitutes for, Valvoline's sales and operating income, as determined in accordance with U.S. GAAP.
Sales in the Retail Services reportable segment are influenced by the number of service center stores and the business performance of those stores. Stores are considered open upon acquisition or opening for business. Temporary store closings remain in the respective store counts with only permanent store closures reflected in the activity and end of period store counts. SSS is defined as sales by U.S. Retail Services stores (company-operated, franchised and the combination of these for system-wide SSS), with new stores, including franchised conversions, excluded from the metric until the completion of their first full fiscal year in operation as this period is generally required for new store sales levels to begin to normalize.
Retail Services sales are limited to sales at company-operated stores, sales of lubricants and other products to independent franchise and Express Care operators, in addition to royalties and other fees from franchised stores. Although Valvoline does not recognize store-level sales from franchised stores as sales in its Statements of Consolidated Income, management believes system-wide and franchised SSS comparisons, store counts, and total system-wide store sales are useful to assess market position relative to competitors and overall store and segment operating performance.
Management believes lubricant volumes sold in gallons by its consolidated subsidiaries is a useful measure in evaluating and understanding the operating performance of the Global Products segment. Volumes sold in other units of measure, including liters, are converted to gallons utilizing standard conversions.
Use of Non-GAAP Measures
To supplement the financial measures prepared in accordance with U.S. GAAP, certain items within this press release are presented on an adjusted basis. These non-GAAP measures, presented on both a consolidated and operating segment basis, have limitations as analytical tools and should not be considered in isolation from, or as an alternative to, or more meaningful than, the financial results presented in accordance with U.S. GAAP. The financial results presented in accordance with U.S. GAAP and the reconciliations of non-GAAP measures should be carefully evaluated. The non-GAAP information used by management may not be comparable to similar measures disclosed by other companies, because of differing methods used in calculating such measures.
This press release includes the following non-GAAP measures: segment adjusted operating income, consolidated EBITDA, consolidated and segment adjusted EBITDA, consolidated adjusted net income and earnings per share, consolidated free cash flow, and consolidated and segment discretionary free cash flows. Refer to Tables 4-5 and 7-9 for management's definition of each non-GAAP measure and reconciliation to the most comparable U.S. GAAP measure.
Management believes the use of non-GAAP measures on a consolidated and operating segment basis provides a useful supplemental presentation of Valvoline's operating performance and allows for transparency with respect to key metrics used by management in operating the business and measuring performance. Management believes EBITDA measures provide a meaningful supplemental presentation of Valvoline's operating performance between periods on a comparable basis due to the depreciable assets associated with the nature of the Company's operations, as well as income tax and interest costs related to Valvoline's tax and capital structures, respectively.
Adjusted profitability measures enable comparison of financial trends and results between periods where certain items may vary independent of business performance. These adjusted measures exclude the impact of certain unusual, infrequent or non-operational activity not directly attributable to the underlying business, which management believes impacts the comparability of operational results between periods ("key items"). Key items are often related to legacy matters or market-driven events considered by management to not be reflective of the ongoing operating performance. Key items may consist of adjustments related to: legacy businesses, including the separation from Valvoline's former parent company and associated impacts of related activity and indemnities; the separation of Valvoline's businesses; significant acquisitions or divestitures; restructuring-related matters; tax reform legislation; debt extinguishment and modification costs; and other matters that are non-operational or unusual in nature, including the following:
- Net pension and other postretirement plan expense/income - includes several elements impacted by changes in plan assets and obligations that are primarily driven by changes in the debt and equity markets, as well as those that are predominantly legacy in nature and related to prior service to the Company from employees (e.g., retirees, former employees and current employees with frozen benefits). These elements include (i) interest cost, (ii) expected return on plan assets, (iii) actuarial gains and losses, and (iv) amortization of prior service costs and credits. Significant factors that can contribute to changes in these elements include changes in discount rates used to remeasure pension and other postretirement obligations on an annual basis or upon a qualifying remeasurement, differences between actual and expected returns on plan assets, and other changes in actuarial assumptions, such as the life expectancy of plan participants. Accordingly, management considers that these elements may be more reflective of changes in current conditions in global financial markets (in particular, interest rates), outside the operational performance of the business, and are also primarily legacy amounts that are not directly related to the underlying business and do not have an immediate, corresponding impact on the compensation and benefits provided to eligible employees for current service. Adjusted profitability measures include the costs of benefits provided to employees for current service, including pension and other postretirement service costs.
- Changes in the last-in, first out (LIFO) inventory reserve - charges or credits recognized in Cost of sales to value certain lubricant inventories at the lower of cost or market using the LIFO method. During inflationary or deflationary pricing environments, the application of LIFO can result in variability of the cost of sales recognized each period as the most recent costs are matched against current sales, while preceding costs are retained in inventories. LIFO adjustments are determined based on published prices, which are difficult to predict and largely dependent on future events. The application of LIFO can impact comparability and enhance the lag period effects between changes in inventory costs and related pricing adjustments.
Management uses free cash flow and discretionary free cash flow as additional non-GAAP metrics of cash flow generation. By including capital expenditures and certain other adjustments, as applicable, management is able to provide an indication of the ongoing cash being generated that is ultimately available for both debt and equity holders as well as other investment opportunities. Free cash flow includes the impact of capital expenditures, providing a supplemental view of cash generation. Discretionary free cash flow includes maintenance capital expenditures, which are routine uses of cash that are necessary to maintain the Company's operations and provides a supplemental view of cash flow generation to maintain operations before discretionary investments in growth. Free cash flow and discretionary free cash flow have certain limitations, including that they do not reflect adjustments for certain non-discretionary cash flows, such as mandatory debt repayments.
About Valvoline™
Valvoline Inc. (NYSE: VVV) is a global leader in vehicle care powering the future of mobility through innovative services and products for vehicles with electric, hybrid and internal combustion powertrains. Established in 1866, the Company introduced the world's first branded motor oil and developed strong brand recognition and customer satisfaction ratings across multiple service and product channels over the years. The Company operates and franchises approximately 1,600 service center locations and is the No. 2 and No. 3 largest chain in the U.S. and Canada, respectively, by number of stores. With sales in more than 140 countries and territories, Valvoline's solutions are available for every engine and drivetrain, including high-mileage and heavy-duty vehicles, and are offered at more than 80,000 locations worldwide. Creating the next generation of advanced automotive solutions, Valvoline has established itself as the world's leading supplier of battery fluids to electric vehicle manufacturers, offering tailored products to help extend vehicle range and efficiency. To learn more, or to find a Valvoline service center near you, visit www.valvoline.com.
Forward-Looking Statements
Certain statements in this press release, other than statements of historical fact, including estimates, projections and statements related to Valvoline's business plans and operating results, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Valvoline has identified some of these forward-looking statements with words such as "anticipates," "believes," "expects," "estimates," "is likely," "predicts," "projects," "forecasts," "may," "will," "should," and "intends," and the negative of these words or other comparable terminology. These forward-looking statements are based on Valvoline's current expectations, estimates, projections, and assumptions as of the date such statements are made and are subject to risks and uncertainties that may cause results to differ materially from those expressed or implied in the forward-looking statements. Additional information regarding these risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission (the "SEC"), including in the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Quantitative and Qualitative Disclosures about Market Risk" sections of Valvoline's most recently filed periodic reports on Forms 10-K and 10-Q, which are available on Valvoline's website at http://investors.valvoline.com/sec-filings or on the SEC's website at http://www.sec.gov. Valvoline assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future, unless required by law.
TM Trademark, Valvoline or its subsidiaries, registered in various countries
SM Service mark, Valvoline or its subsidiaries, registered in various countries
FOR FURTHER INFORMATION
Investor Inquiries
+1 (859) 357-3155
IR@valvoline.com
Media Inquiries
Michele Gaither Sparks
Sr. Director, Corporate Communications
+1 (859) 230-8097
michele.sparks@valvoline.com
View original content to download multimedia:
SOURCE Valvoline Inc. | https://www.wdbj7.com/prnewswire/2022/05/09/valvoline-reports-second-quarter-results/ | 2022-05-09T22:39:58Z | https://www.wdbj7.com/prnewswire/2022/05/09/valvoline-reports-second-quarter-results/ | true | 21 |
The monarch, 96, reluctantly pulled out of the major ceremonial occasion as she continues to experience “episodic mobility problems” with royal doctors advising her against attending.
As Charles takes on the head of state’s major constitutional duty for the first time, the move, believed to be unprecedented in modern history, will be interpreted as a significant shift in his responsibilities as a king in waiting.
The Duke of Cambridge, also a future monarch, will attend the State Opening, the first time William has done so.
Buckingham Palace said in a statement: “The Queen continues to experience episodic mobility problems, and in consultation with her doctors has reluctantly decided that she will not attend the State Opening of Parliament tomorrow.
“At Her Majesty’s request, and with the agreement of the relevant authorities, The Prince of Wales will read The Queen’s Speech on Her Majesty’s behalf, with The Duke of Cambridge also in attendance.”
A new Letters Patent authorised by the Queen was issued to cover the State Opening delegating to Counsellors of State the royal function of opening a new session of Parliament.
In this instance, it enables Charles and William to jointly exercise that function.
No other functions have been delegated by the Queen.
The decision was taken on Monday.
The government will set out its plans for new laws in the speech.
The government is expected to use the speech to bring forward changes to Northern Ireland’s post-Brexit trading arrangements.
However, Deputy Prime Minister Dominic Raab refused on Sunday to say whether new measures would be included.
“What we’re going to be focusing on this week is what our plans are to drive up the economy, protect the cost of living,” Mr Raab told Sky News.
He added: “We’re going to be talking about reforming the agricultural sector, innovation to create cheaper, healthier food.
“We’re going to be talking about areas where Britain has a real comparative advantage, tech, financial services.”
Reports of proposed changes come as the government grapples with the implications of Sinn Fein’s success in the Stormont Assembly elections.
Prime Minister Boris Johnson has also said he has plans for a “super seven” set of bills aimed at changing laws the UK inherited from the EU.
Meanwhile, a reference to legislation around the culture and language in Northern Ireland is expected to be made in the Queen’s Speech, Mary-Lou McDonald has said.
The Sinn Fein president said she received assurances over the legislation during her party’s meeting with Northern Ireland Secretary Brandon Lewis on Monday.
There had been an expectation that the Westminster government would introduce the legislation before the Stormont election last week.
It fell to the Northern Ireland Office after the Stormont parties were unable to agree to introduce cultur al and language legislation in the Assembly which was part of the New Decade, New Approach deal.
The plans include an Office of Identity and Cultural Expression to promote respect for diversity as well as an Irish language commissioner and a commissioner to develop language, arts and literature associated with the Ulster-Scots/Ulster-British tradition.
However, Mr Lewis announced in March that the legislation would not be introduced ahead of the Assembly election.
Ms McDonald said her team raised the legislation with Mr Lewis during their meeting.
“The commitment now is that there will be reference to Acht Gaeilge in the Queen’s Speech and that legislation will be brought forward very soon,” she said.
“We don’t have a precise date but we again have a very precise commitment, and this is a long-running saga and a really unnecessary drama around recognising the rights of Irish language speakers.” | https://www.newsletter.co.uk/news/people/charles-steps-in-for-queen-at-state-opening-of-parliament-3687167 | 2022-05-09T22:39:58Z | https://www.newsletter.co.uk/news/people/charles-steps-in-for-queen-at-state-opening-of-parliament-3687167 | false | 1 |
BURLINGAME, Calif. (AP) — Facebook parent Meta has opened its first physical store — in Burlingame, California — to showcase its hardware products like virtual and augmented reality goggles and glasses.
The store, which is open to the public as of Monday, is made for people who want to test out products like Ray-Ban Stories, Meta’s AR glasses and sunglasses, along with the Portal video calling gadget and Oculus virtual reality headsets.
Shoppers still have to order the glasses from Ray-Ban but can buy the other products at the store.
“It’s a very concrete step from moving away from social media and ads that mislead people and elections and spying and data and all those things to a very physical representation of clean, classy, well-designed, cool hardware that makes you go, ah,” said Omar Akhtar, research director at Altimeter, a technology investment firm.
Akhtar said he “didn’t believe in virtual reality” until he sat and tried on the Oculus headset for the first time — and believes this will be the same for others who are able to put on the goggles and try it out. Apple pioneered physical retail stores in Silicon Valley and Meta, which owns Instagram and Facebook, is likely hoping it'll replicate at least some of that success.
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“The truth of it is that physical things never went away and they’re never going to go away,” Akhtar said. “Everybody realizes that even if we are going to step into the virtual world, we’re going to need to access it with hardware.” | https://www.expressnews.com/business/article/Meta-opens-first-physical-store-17159549.php | 2022-05-09T22:42:11Z | https://www.expressnews.com/business/article/Meta-opens-first-physical-store-17159549.php | true | 17 |
PORTLAND, Ore. (AP) — Mt. Hood Skibowl in Oregon will keep cyclists off its forested trails this summer after losing a lawsuit from a man who said he slammed into a signpost and was paralyzed from the waist down.
A Multnomah County jury awarded $11.4 million to Gabriel B. Owens this spring after the cyclist’s lawyers said he hit a rut and collided with a wooden sign installed next to the double black-diamond Cannonball bike trail on July 31, 2016, The Oreogonian/OregonLive reported.
Owens, 43, settled the case for $10.5 million after the ski resort’s lawyers threatened to appeal the jury verdict, which could have tied up the money for years, according to Owens’ lawyer, Gretchen Mandekor.
The ski resort should have installed collapsible markers at the trail crossing, Mandekor said during the trial, likening the trail’s condition to “a speed bump on a highway” that caused the former pro-cyclist to lose control of his bike.
In an undated statement on its website, Mt. Hood Skibowl called the verdict “unprecedented” and said it would temporarily suspend mountain bike operations this summer.
“After 32 years without a serious mountain bike claim of any kind, the winds have shifted,” the company said. “Eliminating all risks with recreational activities — especially in downhill mountain biking through forests at high speed — is something that is just not possible.” | https://www.thetelegraph.com/news/article/Mt-Hood-Skibowl-bans-mountain-bikes-after-losing-17160542.php | 2022-05-09T22:44:59Z | https://www.thetelegraph.com/news/article/Mt-Hood-Skibowl-bans-mountain-bikes-after-losing-17160542.php | false | 11 |
HILLIARD, Ohio — The Hilliard Division of Police has a new chief of police.
Mike Woods was sworn in as the new chief on Monday. Woods joined the division eight months ago as deputy chief with plans to take over as chief when Eric Grile, who retired last week, stepped down.
Grile was in the audience when Woods was sworn in, looking very relaxed in a T-shirt and jeans. Woods explained Grile has set him up for success.
“I don't have to change much. Chief Grile had set a great stage for me to take over. What I really want to work on is staff development. I want our future leaders to be Hilliard officers. That's my commitment to them and that's what I'm going to work towards,” Woods said.
Woods served as the interim police chief in Columbus before going to Hilliard.
He had been with Columbus police for more than 30 years, serving in several different positions including patrol, public information officer and deputy chief. | https://www.10tv.com/article/news/local/hilliard-swears-new-chief-police/530-651f38ef-e083-4a3c-ae37-81ea3bcedd45 | 2022-05-09T22:49:37Z | https://www.10tv.com/article/news/local/hilliard-swears-new-chief-police/530-651f38ef-e083-4a3c-ae37-81ea3bcedd45 | true | 1 |
The Shorter Hawks defeated the Valdosta State University Blazers 11-4 on Sunday afternoon to advance in the Gulf South Conference (GSC) tournament at Choccolocco Park in Oxford, Ala.
Carson Cook (W, 5-4) tossed 7 2/3 innings in relief for the Hawks, striking out five and giving up three runs on four hits and four walks.
The Hawks struck first and scored the first four runs of the game in the top of the first. Lyndon Weaver hit a solo home run to center to plate the first run of the game. Shortly after, Logan Stockton doubled to left field to score Matt Christian and Cameron Tilly. Norman Leon then doubled to center to score Stockton.
Valdosta State scored its first run in the bottom of the first after Ryan Romano scored on a wild pitch. The Blazers added on a couple of runs in the second after Jisjar Clotida hit a two-run home run to make the score 4-3 Shorter.
Shorter plated its next three runs in the top of the fourth. Leon advanced to third and then scored on a throwing error by the Valdosta State right fielder to score the first run of the inning. Later on, Jacob Pajer singled to center to score Jakob Woods. Right after this, Weaver had a sac fly to center that scored Kody Krause.
The Hawks added on four runs in the top of the eighth. Krause singled to right to score Stockton to plate the first run of the inning. Pajer then reached on a fielder’s choice to score Leon. Soon after Weaver doubled down the left field line, and this scored Pajer and Krause.
The Blazers plated their final run of the day in the bottom of the eighth.
Weaver went 3-for-4 with a run scored and four RBI in today’s game. Stockton went 3-for-5 with two runs scored and two RBI.
The victory pushed the Hawks ahead in the bracket to take on Lee on Monday afternoon.
In previous action from Shorter’s run at the GSC Tournament:
Shorter stays alive with elimination-game win
The eighth-seeded Shorter Hawks defeated the No. 4 seed Auburn University at Montgomery (AUM) Warhawks 8-2 in an elimination game on Saturday afternoon to stay alive in the Gulf South Conference (GSC) tournament.
Jonathan Pintaro (W, 10-3) started for the Hawks and was solid over 7 2/3 innings of work. He threw 126 pitches and had four strikeouts. He additionally gave up two runs on five hits. Pintaro recorded his 400th career strikeout during the victory.
The Hawks scored the first three runs of the game on two home runs. Cameron Tilly hit a solo home run to right in the bottom of the first, and Matt Christian then hit a two-run home run to center in the bottom of the second to make the score 3-0 Shorter.
Shortly after the two-run homer from Christian in the second, Norman Leon scored on a wild pitch to score the fourth run of the game for the Hawks.
Shorter plated its next two runs in the bottom of the fourth. Jacob Pajer hit an infield single to third, and this scored Leon. Shortly after this, Tilly singled to center, and this scored Jakob Woods.
The Hawks added on an additional run in the bottom of the seventh after Leon had a sac fly to center that scored Christian.
The Warhawks scored their two runs of the game in the top of the eighth courtesy of two RBI singles.
Pajer scored the final run of the game for the Hawks in the bottom of the eighth.
Leon went 3-for-3 with two runs scored and an RBI in today’s game. Christian went 2-for-4 with two runs scored and two RBI. Tilly went 2-for-4 with a run scored, two RBI and a walk. Pajer went 2-for-4 with a run scored, an RBI and a walk. | https://www.northwestgeorgianews.com/rome/sports/hawks-stay-alive-at-gsc-tourney-with-win-over-blazers/article_bdd43576-cfe0-11ec-9662-cf2f5389a6b6.html | 2022-05-09T22:50:55Z | https://www.northwestgeorgianews.com/rome/sports/hawks-stay-alive-at-gsc-tourney-with-win-over-blazers/article_bdd43576-cfe0-11ec-9662-cf2f5389a6b6.html | false | 1 |
SPRINGFIELD, Ill. (AP) _ The winning numbers in Monday afternoon's drawing of the Illinois Lottery's "LuckyDay Lotto Midday" game were:
01-02-18-27-34
(one, two, eighteen, twenty-seven, thirty-four)
Estimated jackpot: $200,000
SPRINGFIELD, Ill. (AP) _ The winning numbers in Monday afternoon's drawing of the Illinois Lottery's "LuckyDay Lotto Midday" game were:
01-02-18-27-34
(one, two, eighteen, twenty-seven, thirty-four)
Estimated jackpot: $200,000 | https://www.expressnews.com/lottery/article/Winning-numbers-drawn-in-LuckyDay-Lotto-Midday-17159793.php | 2022-05-09T22:51:35Z | https://www.expressnews.com/lottery/article/Winning-numbers-drawn-in-LuckyDay-Lotto-Midday-17159793.php | true | null |
Crop landraces have unique local agroecological and societal functions and offer important genetic resources for plant breeding. Recognition of the value of landrace diversity and concern about its erosion on farms have led to sustained efforts to establish ex situ collections worldwide. The degree to which these efforts have succeeded in conserving landraces has not been comprehensively assessed. Here we modelled the potential distributions of eco-geographically distinguishable groups of landraces of 25 cereal, pulse and starchy root/tuber/fruit crops within their geographic regions of diversity. We then analysed the extent to which these landrace groups are represented in genebank collections, using geographic and ecological coverage metrics as a proxy for genetic diversity. We find that ex situ conservation of landrace groups is currently moderately comprehensive on average, with substantial variation among crops; a mean of 63%"‰Â±"‰12.6% of distributions is currently represented in genebanks. Breadfruit, bananas and plantains, lentils, common beans, chickpeas, barley and bread wheat landrace groups are among the most fully represented, whereas the largest conservation gaps persist for pearl millet, yams, finger millet, groundnut, potatoes and peas. Geographic regions prioritized for further collection of landrace groups for ex situ conservation include South Asia, the Mediterranean and West Asia, Mesoamerica, sub-Saharan Africa, the Andean mountains of South America and Central to East Asia. With further progress to fill these gaps, a high degree of representation of landrace group diversity in genebanks is feasible globally, thus fulfilling international targets for their ex situ conservation. | https://www.newsbreak.com/news/2593820448572/crucial-factors-for-the-feasibility-of-commercial-hybrid-breeding-in-food-crops | 2022-05-09T22:54:20Z | https://www.newsbreak.com/news/2593820448572/crucial-factors-for-the-feasibility-of-commercial-hybrid-breeding-in-food-crops | false | 1 |
MANASSAS, Va. — Editor's Note: The video above was published on April 18, 2022.
A man was caught filming female customers without their permission in a restroom at a Manassas restaurant.
On Saturday, Prince William County police responded to a report of a suspicious person at the Black Sheep restaurant located at 93935 Discovery Blvd. in Manassas, Virginia. According to police, the manager of the establishment reported that another employee found a man in the women's bathroom viewing patrons under stalls by using a cell phone.
The manager confronted the man, who walked out of the restaurant and went into the woods nearby, police said/
Police do not yet know the identity of the suspected man but describe him to be a Hispanic man that is about 5'8'' and weighing around 150 pounds. Police also say the man has curly hair, black eyes and was last seen wearing a grey Nike hoodie with a dark-colored shirt underneath and blue jeans that had brown patches on them.
Additionally, police have also not identified any victims of the suspect from this incident at the Black Sheep restaurant. | https://www.wusa9.com/article/news/local/virginia/man-in-manassas-caught-filming-patrons-in-womens-restroom-at-restaurant/65-1baedfbd-fc4d-44ba-a8ca-b043b8141ab9 | 2022-05-09T22:56:09Z | https://www.wusa9.com/article/news/local/virginia/man-in-manassas-caught-filming-patrons-in-womens-restroom-at-restaurant/65-1baedfbd-fc4d-44ba-a8ca-b043b8141ab9 | false | 1 |
A bruising session on global stock markets left London’s investors with a headache on Monday as a drop was led by gambling companies and miners.
The FTSE 100 ended the day down 2.3%, a fall of 171.36 points to 7,216.58, after a rough session of trading as US and European shares traded down partly in anticipation of new inflation figures from several countries.
Danni Hewson, an analyst at AJ Bell, said: “Talk of recession is rife as markets really begin to price in a series of interest rate rises as central banks remain under pressure to help people out of the cost-of-living crisis they’ve found themselves slap bang in the middle of.”
CMC Markets analyst Michael Hewson said that the natural resources sector had been badly hit by new trade data from China which showed a collapse in imports to the country.
“The stubborn pursuit by Chinese authorities of a zero-Covid policy is raising concerns that it will have a chilling effect on the Chinese economy in the months ahead, and with Beijing and Shanghai tightening curbs on residents of those cities, we appear to be seeing a realisation that supply chain issues may still have some way to go as far as downside risk is concerned, with dire consequences for growth prospects,” he said.
Miners Antofagasta, Glencore and Anglo American were among the worst hit stocks on a poor day for the FTSE. Energy giant BP also fared badly.
But among the bloodbath there were also some winners as some of the UK’s biggest shops gained ground, although perhaps partly because they have suffered recently.
Ms Hewson said: “UK retailers took a big hit last week and there seems to have been a flurry of bargain hunters rushing through the aisles of London’s markets today.
“Tesco and Sainsbury might well be enjoying a vicarious boost from the bun fight under way for corner shop grocer McColl’s but when you add Kingfisher, B&M, Next and Moonpig into the mix it seems investors in London at least are thinking long term.”
In Europe the German Dax closed down 2.2% while Paris’s Cac 40 dropped 2.4%. Their Wall Street cousin the S&P 500 was down 2.8% around market close in Europe while the Dow Jones lost 1.6%.
On currency markets the pound would buy 1.2323 dollars, a rise of 0.14%, or 1.1686 euros, down 0.03%.
The biggest news of the day was Morrisons’ successful bid to buy failed convenience chain McColl’s out of administration.
The retailer collapsed last week, putting the future of about 16,000 members of staff in peril. But after markets closed on Monday McColl’s, whose shares are suspended, found a buyer in its former rival.
Morrisons said that all McColl’s colleagues would stay with the shops as the change of ownership took place. It will also take over the running of McColl’s two pension schemes.
In other news, investors in Rightmove saw their shares drop by 3.4% after its boss of 16 years announced his departure.
Peter Brooks-Johnson said he would leave in February next year and will help find a new boss to step into his shoes.
The biggest risers on the FTSE 100 were Sainsbury’s, up 5.1p to 233p, Kingfisher, up 5p to 242p, Tesco, up 4.1p to 275.5p, CocaCola HBC, up 19p to 1,567p, and Unilever, up 39p to 336.6p.
The biggest fallers on the FTSE 100 were Entain, down 123p to 1,248.5p, Scottish Mortgage Investment Trust, down 55p to 777p, Antofagasta, down 95p to 1,362p, Glencore, down 29p to 458.55p, and Flutter Entertainment, down 504p to 7,996p. | https://www.pressandjournal.co.uk/business/uk-and-abroad/4271387/miners-drag-ftse-lower-on-dark-day-for-global-markets/ | 2022-05-09T22:56:15Z | https://www.pressandjournal.co.uk/business/uk-and-abroad/4271387/miners-drag-ftse-lower-on-dark-day-for-global-markets/ | false | 4 |
NEEDHAM, Mass. (AP) _ Verastem Inc. (VSTM) on Monday reported a loss of $17 million in its first quarter.
The Needham, Massachusetts-based company said it had a loss of 9 cents per share.
The drug developer posted revenue of $2.6 million in the period.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VSTM at https://www.zacks.com/ap/VSTM | https://www.registercitizen.com/business/article/Verastem-Q1-Earnings-Snapshot-17160416.php | 2022-05-09T22:56:18Z | https://www.registercitizen.com/business/article/Verastem-Q1-Earnings-Snapshot-17160416.php | false | null |
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OCILLA, Ga. (AP) — A Georgia man charged with murdering a popular high school teacher who vanished in 2005 went on trial Monday with prosecutors and defense attorneys clashing over whether the jury should believe the defendant's confession to investigators.
Ryan Duke's trial opened more than 16 years after Tara Grinstead was last seen leaving an evening cookout in rural south Georgia. Her disappearance lingered as an unsolved mystery in Irwin County for more than a decade until Duke told Georgia Bureau of Investigation agents in 2017 that he killed Grinstead after breaking into her home to steal money for drugs.
“He confesses with his words. He confesses with his writings," prosecutor J.D. Hart told the jury Monday in his opening statement. "He confesses with his actions by walking them out there and showing them where he burned the body.”
Hart also told the jury that evidence will show Duke was the “primary contributor” of DNA left on a latex glove in Grinstead's front yard.
“We’ve had his DNA since 2005,” Hart said. “We just didn’t know.”
Ashleigh Merchant, one of Duke's defense attorneys, told jurors her client was coerced into confessing while under the influence of drugs and his statements to investigators can't be trusted.
She also said the jury will hear evidence that investigators “tried very hard” to find DNA on the glove matching a second man already convicted of helping dispose of Grinstead's body, but test results were inconclusive.
“Ryan did not harm Ms. Grinstead," Merchant said, “and at the end of this trial you will agree with us.”
Grinstead, who taught history and was a former beauty queen, was just 30 when she went missing. Before Duke's confession. her family held out hope that she might return home safe.
Her body was never recovered. Duke told investigators he and an accomplice took Grinstead's body to a pecan orchard in a neighboring county and burned it to ash.
Superior Court Judge Bill Reinhardt seated 12 jurors and six alternates last week after just four days of jury selection.
It happened quickly considering the pervasive publicity that has surrounded the case ever since Grinstead's disappearance. The court clerk mailed out 800 jury duty notices for the trial to ensure a better chance of finding enough impartial jurors.
If convicted of murder, Duke faces an automatic sentence of life in prison. A court fight over funding for his legal defense and the coronavirus pandemic contributed to long delays in the case going to trial.
A second person with a similar name, Bo Dukes, was convicted in 2019 for helping move and burn Grinstead's body. He was sentenced to 25 years in prison. | https://www.registercitizen.com/news/article/Confession-DNA-at-heart-of-trial-in-Georgia-17160469.php | 2022-05-09T22:57:32Z | https://www.registercitizen.com/news/article/Confession-DNA-at-heart-of-trial-in-Georgia-17160469.php | false | 23 |
NORTH LITTLE ROCK, Ark. (AP) _ Montrose Environmental Group, Inc. (MEG) on Monday reported a loss of $7.5 million in its first quarter.
On a per-share basis, the North Little Rock, Arkansas-based company said it had a loss of 39 cents.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The company posted revenue of $134.7 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $133.5 million.
Montrose Environmental expects full-year revenue in the range of $520 million to $570 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MEG at https://www.zacks.com/ap/MEG | https://www.newstimes.com/business/article/Montrose-Environmental-Q1-Earnings-Snapshot-17160547.php | 2022-05-09T23:00:24Z | https://www.newstimes.com/business/article/Montrose-Environmental-Q1-Earnings-Snapshot-17160547.php | false | null |
Shares of TherapeuticsMD Inc.
TXMD,
-36.86%
cratered 36.86% to $4.84 Monday, on what proved to be an all-around grim trading session for the stock market, with the NASDAQ Composite Index
COMP,
-4.29%
falling 4.29% to 11,623.25 and Dow Jones Industrial Average
DJIA,
-1.99%
falling 1.99% to 32,245.70. This was the stock's fourth consecutive day of losses. TherapeuticsMD Inc. closed $64.66 below its 52-week high ($69.50), which the company achieved on June 9th.
The stock underperformed when compared to some of its competitors Monday, as Johnson & Johnson
JNJ,
+0.54%
rose 0.54% to $177.33, Merck & Co. Inc.
MRK,
-0.85%
fell 0.85% to $87.64, and Novartis AG ADR
NVS,
-2.73%
fell 2.73% to $83.48. Trading volume (1.7 M) eclipsed its 50-day average volume of 162,744.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. | https://www.marketwatch.com/story/therapeuticsmd-inc-stock-underperforms-monday-when-compared-to-competitors-01652131514-efec7d307f8c | 2022-05-09T23:01:13Z | https://www.marketwatch.com/story/therapeuticsmd-inc-stock-underperforms-monday-when-compared-to-competitors-01652131514-efec7d307f8c | false | null |
You need to enable JavaScript to run this app. | https://sportspyder.com/mlb/houston-astros/articles/39441991 | 2022-05-09T23:01:17Z | https://sportspyder.com/mlb/houston-astros/articles/39441991 | true | null |
Instead of celebrating Mother's Day and Father's Day on separate dates, we should promote a combined Parents' Day instead.
It could be celebrated between the second Sunday in May (Mother's Day) and the third Sunday in June (Father's Day) - perhaps the last Sunday in May or first Sunday of June.
Parents take care of their children's needs, protect them from harm and discipline them when they behave. We should not be distinguishing between them.
They way things are currently, as the two dates are fairly close and Father's Day is the later celebration, it often lags behind Mother's Day in terms of spending.
It would be even more meaningful if the Government were to make Parents' Day a national holiday.
Donny Ho Boon Tiong | https://www.straitstimes.com/opinion/forum/parents-%E2%80%A2-combine-mothers-day-and-fathers-day-celebrations | 2022-05-09T23:01:26Z | https://www.straitstimes.com/opinion/forum/parents-%E2%80%A2-combine-mothers-day-and-fathers-day-celebrations | true | null |
INDIANAPOLIS (AP) — A divorced Indiana couple who prosecutors say shared sexually explicit photos and videos of children with former Subway pitchman Jared Fogle were sentenced Monday to decades in prison.
A federal judge sentenced Angela Baldwin, 40, of Connersville, to 33 years and four months in prison, the Justice Department said. A jury convicted her in October of two counts of producing child sexual abuse material, one count of conspiracy to produce such material, and one count of possessing it.
Her ex-husband Russell Taylor, who ran a nonprofit Fogle founded, pleaded guilty last year to 30 child pornography and sexual exploitation counts for his acts against nine children. Taylor, 50, was sentenced earlier Monday to 27 years behind bars, the Justice Department said.
The victims were ages 9 to 16 when the crimes occurred.
The couple shared with Fogle videos and photos of the girls that were captured by hidden cameras Taylor installed in the then-couple's Indianapolis home, prosecutors said.
Fogle, who became a Subway pitchman after shedding more than 200 pounds (90.7 kilograms) as a college student, in part by eating the chain’s sandwiches, was sentenced in 2015 to 15 years in prison for possession or distribution of child pornography and traveling across state lines to have sex with a minor.
Taylor was executive director of the Jared Foundation, a nonprofit that Fogle started to raise awareness and money to fight childhood obesity. He provided evidence that led to the criminal case against Fogle, his one-time boss and close friend.
Taylor was originally sentenced in 2015, but U.S. District Judge Tanya Walton Pratt in 2020 found that he had received ineffective legal assistance because his lawyer had failed to challenge three criminal charges against him for which there was no factual basis.
Taylor’s attorneys asked Pratt to sentence him to 19 years, while prosecutors sought a prison sentence of 35 years. Pratt gave him a lesser sentence because he provided important information to federal law enforcement that helped them bring charges against Baldwin and Fogle.
During Taylor's sentencing hearing, Pratt described the four-year grooming, exploitation and molestation of the children from 2011-2015 as a “mutual perversion” between Taylor, Baldwin and Fogle.
Taylor told the court Monday that he was a “vile, selfish, self-loathing, sorry excuse” for a human, but that time in prison had changed him. He said he had taken advantage of a sex offender rehabilitation class while incarcerated.
Federal prosecutor Kathryn Olivier read statements during Taylor’s sentencing from some of the victims — some of whom are Taylor and Baldwin’s relatives — who said they expect to need mental health help and medication for the rest of their lives. One victim said she checks for cameras anytime she’s in the bathroom at a house that isn’t hers. | https://www.expressnews.com/news/article/Judge-sentences-Jared-Fogle-associate-to-27-years-17159925.php | 2022-05-09T23:03:58Z | https://www.expressnews.com/news/article/Judge-sentences-Jared-Fogle-associate-to-27-years-17159925.php | true | 48 |
Shares of Visa Inc. Cl A
V,
-4.84%
slipped 4.84% to $193.00 Monday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index
SPX,
-3.20%
falling 3.20% to 3,991.24 and Dow Jones Industrial Average
DJIA,
-1.99%
falling 1.99% to 32,245.70. This was the stock's third consecutive day of losses. Visa Inc. Cl A closed $59.67 below its 52-week high ($252.67), which the company achieved on July 27th.
The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Mastercard Inc.
MA,
-5.51%
fell 5.51% to $327.99, Fidelity National Information Services Inc.
FIS,
-3.80%
fell 3.80% to $94.54, and American Express Co.
AXP,
-3.67%
fell 3.67% to $161.02. Trading volume (10.3 M) eclipsed its 50-day average volume of 7.9 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. | https://www.marketwatch.com/story/visa-inc-cl-a-stock-outperforms-competitors-despite-losses-on-the-day-01652131593-a1c9bd1443d2 | 2022-05-09T23:04:30Z | https://www.marketwatch.com/story/visa-inc-cl-a-stock-outperforms-competitors-despite-losses-on-the-day-01652131593-a1c9bd1443d2 | false | 3658 |
COLUMBUS, Ohio (AP) — Ohio’s Republican leaders want to call a time out in the battle over state legislative maps — at least until after this fall’s general elections — and asked the state’s high court on Monday to pause the legal back-and-forth with voting rights and Democratic groups.
By a bipartisan 4-3 majority, the Ohio Supreme Court has so far tossed out four sets of legislative maps that were drawn by the Republican-dominated Ohio Redistricting Commission. The judges found those maps to be unfairly gerrymandered. The dispute over redrawing the maps resulted in races for state representative and senator being left off Ohio's May 3 primary ballot.
On Monday, Republicans asked the court to accept the third set of maps for just this year, and not order any more map-drawing until after the Nov. 8 elections. Ohio has limped nearly halfway into the year without a firm date for its Statehouse primaries. The process was supposed to be done in September, 2021.
The Redistricting Commission voted last week to resubmit its third iteration of the maps to the state Supreme Court, where groups including the Ohio Organizing Collaborative and the ACLU persist in arguing that the boundaries are still unconstitutional and that the commissioners are in contempt.
In his brief on behalf of Republican Gov. Mike DeWine, who is a member of the mapmaking commission, Attorney General Dave Yost argued that the petitioning parties can’t simply regurgitate their earlier arguments against the third plan, although those arguments were previously successful. That’s because, he wrote, “time and circumstances have materially changed.”
The two Democrats on the seven-member Redistricting Commission said the Republican majority's decision to approve an already-invalidated plan “discarded the Ohio Constitution and the will of Ohio’s citizens, who voted overwhelmingly to end partisan gerrymandering, and discarded the rule of the law.”
If accepted, the third set of maps would create a 54-45 Republican majority in the Ohio House and an 18-15 Republican majority in the Ohio Senate, by the GOP's calculations. Democrats have questioned that math, contending many of the districts counted as Democratic are actually too closely divided to fall into their column. Few districts tallied as Republican, on the other hand, are winnable by Democrats.
Most recently, the state Supreme Court justices ordered a new, presumably fifth plan to be resubmitted by last Friday. But, bolstered by a federal court's promise to impose the third set of maps if a solution can't be worked out by May 28, commissioners opted just to send the third plan back.
Republican Secretary of State Frank LaRose, the state's elections chief and also a commission member, has told both the public and the court that the round-three maps — though previously invalidated — are the only ones that can logistically be used at this point without disrupting the fall general election.
“The Commission cannot do the impossible,” he told the court in a filing Monday. “It cannot change the past. It cannot turn back the hands of time. It cannot make the legislature change statutory deadlines, the date of the election, or the law. And it cannot will a lawfully compliant legislative primary to go forward based on hope and effort, alone. Instead, the Commission must look at the calendar and do its best to move an orderly election forward, even if that means using a one term, stop-gap plan.”
LaRose and the association representing election officials in Ohio's 88 counties, who administer elections, want legislative primaries to be held Aug. 2. | https://www.newstimes.com/news/article/Ohio-GOP-asks-high-court-to-pause-map-fight-for-17160450.php | 2022-05-09T23:05:01Z | https://www.newstimes.com/news/article/Ohio-GOP-asks-high-court-to-pause-map-fight-for-17160450.php | true | 21 |
Madison Medical Center once again sponsored the Azalea Festival Diaper Derby and Decorated Diaper contents, Saturday morning. Pictured, from left with heir parents and Azalea Queen Katie Rohan are the Diaper Derby winners, first place Dallas Pingel, second Jonah Collins, and third Holland Haslag. | https://dailyjournalonline.com/diaper-derby-decorated-diaper-winners/article_f24d7f62-70fd-5725-85d9-96507828717a.html | 2022-05-09T23:06:08Z | https://dailyjournalonline.com/diaper-derby-decorated-diaper-winners/article_f24d7f62-70fd-5725-85d9-96507828717a.html | false | null |
Mark McGhee insists Dundee are still set for a bright future despite their impending relegation.
The Dark Blues are six points adrift at the foot of the cinch Premiership with just two games to play and will officially be consigned to the Championship if they fail to defeat Hibernian on Tuesday evening.
However, McGhee, who is keen to have his short-term contract extended despite presiding over a 12-game winless streak since taking over from James McPake in February, believes there are still grounds for optimism at Dens Park.
“I hope to be part of Dundee next season but that all remains to be seen,” he said. “That’s not even been considered. We’ve been concentrating on trying to win games and stay up and then afterwards we’ll think about that.
“I’ve made it clear I want to stay on but I know all the variables. We’ll talk about that when it’s finished. Whether I’m here or not, I think things are happening here.
“Behind the scenes, in terms of the way people are thinking about the club and the future of the club, it’s very progressive. I think over the next couple of years there will be a massive change both in the culture around the football side and maybe even the stadium.
“I’d love to be part of that, but whether I am or not, big change is coming and I think that’s a very exciting thing for Dundee Football Club.”
McGhee, whose side have an inferior goal difference to second-bottom St Johnstone, admits Dundee are effectively playing to salvage some pride in their closing two fixtures of this season.
“I think it’s beyond do-or-die,” he said. “Realistically, all we can do is try and win a game for our own pride. I don’t expect any help from St Johnstone – somewhere along the line, they will take a point, so I think in that respect it’s done.
“But we still have something to play for. We have each other to play for. We have the support to play for, and we want to run it as close as we possibly can. I don’t even think it’s last-chance saloon. I think we’re playing for pride.”
McGhee admits Dundee have simply not been good enough over the course of the campaign.
“I’m not a great believer in luck,” he said. “If you miss a chance or make a mistake, like we did on Saturday, that’s not luck, that’s bad concentration or whatever.
“Sometimes we’ve done alright and other times we’ve not been good enough but the table doesn’t lie. We are where we are not because of luck but because of our ability.” | https://www.pressandjournal.co.uk/sport/4271495/mark-mcghee-hopes-to-be-a-part-of-exciting-dundee-future/ | 2022-05-09T23:07:39Z | https://www.pressandjournal.co.uk/sport/4271495/mark-mcghee-hopes-to-be-a-part-of-exciting-dundee-future/ | true | 5 |
Three years ago, Mastura Jeilani thought her football career was over.
Ten minutes after coming on for Police SA in a Women's Premier League (WPL) match, the midfielder twisted the anterior cruciate ligament (ACL) in her left knee.
Having just given birth to her second child nine months earlier, Mastura admitted that the injury was a result of not being physically ready to play then.
The recovery process was challenging as she had to manage tasks like showering her two young children with her leg brace on.
Close friends and family also asked her to stop playing when they saw how tough it was for her.
"When I got the ACL injury, I was like, there goes football, I thought I was going to stop," said Mastura, who also suffered an ACL injury in her right leg in 2013. "It was really a struggle at that point."
But her injury woes also kicked off an unexpected comeback to international football last month for the 30-year-old, who had left the national team in 2012.
After her injury, she joined Simei United - now Balestier Khalsa - and she credited the support of her teammates and coach Ratna Suffian for making her road to recovery easier.
She also quit her job at the Central Narcotics Bureau, where she had been a drug enforcement officer since 2012, leading her to think about her goals in life.
Having called time on her international career just as it was taking off at 20, Mastura realised that she had unfinished business on the pitch.
In 2012, the national captain, who was working as a freelance football coach then, decided to quit to focus on her career as she was getting married. It was a difficult decision for the player - who made her debut in 2007 at 14 years and 224 days old - and she continued playing in the WPL while keeping close tabs on her teammates.
Her longing to play for the Lionesses will see Mastura returning to the national fold when they make their first appearance at the SEA Games since 2003.
On what inspired her comeback, Mastura said: "I haven't scored an international goal and I left as the captain of the national team at that point in time - I'd just managed to be the captain for a year then I left.
"Football fields are the stage where we perform, where we entertain people so I like doing that and I still want to do that."
Even the pandemic, which put a halt to all team activities, could not stop Mastura's comeback. Determined to get back in shape, she bought a leg extension machine and treadmill and her husband even converted one of the rooms in their home into a workout space.
She also began running with some of her former teammates - who were unaware of her intention to return to the national squad - starting with 5km runs before progressing to 13km. Her efforts saw her weight dip from 82kg to 64kg.
She started training with the team again last December and finally made her first appearance for the Lionesses in a decade as a substitute in a 1-0 loss to Papua New Guinea last month at the Jalan Besar Stadium.
Getting to compete at the SEA Games is a "golden opportunity" and she hopes the team can make it to the semi-finals. But she admits it will not be an easy ask as world No. 135 Singapore open their campaign today against world No. 43 Thailand in Group B.
The other teams in the group are Myanmar (45) and Laos (83).
Mastura said: "At this point we all know the toughest opponents will be the Thais and we're meeting them for the first game. But we will definitely give our all, everyone is going to fight for their lives in these SEA Games.
"For myself, I want to score an international goal and help the team however I can." | https://www.straitstimes.com/sport/football/unfinished-business-spurs-mastura-on | 2022-05-09T23:08:44Z | https://www.straitstimes.com/sport/football/unfinished-business-spurs-mastura-on | true | 2 |
Rams Fall to Second-Seeded Yeshiva in Skyline Semifinal
#2 Yeshiva - 5, #3 Farmingdale State - 1 Flushing, N.Y. - The third-seeded FSC men's tennis team traveled to the USTA Tennis Center to play #2 Yeshiva in the Skyline Conference Semifinal Thursday evening and lost, 5-1. YU...
farmingdalesports.com | https://www.newsbreak.com/news/2593864653494/rams-fall-to-second-seeded-yeshiva-in-skyline-semifinal | 2022-05-09T23:09:35Z | https://www.newsbreak.com/news/2593864653494/rams-fall-to-second-seeded-yeshiva-in-skyline-semifinal | false | null |
You need to enable JavaScript to run this app. | https://sportspyder.com/nhl/nashville-predators/articles/39442643 | 2022-05-09T23:11:51Z | https://sportspyder.com/nhl/nashville-predators/articles/39442643 | true | null |
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And we’re done! Unless you require our assistance. Our transfer team is available for free post-transfer assistance. | https://dan.com/buy-domain/livestreamlax.com | 2022-05-09T23:11:51Z | https://dan.com/buy-domain/livestreamlax.com | false | null |
Whitestone's Upside Is Unlocked By Removal Of An Expensive Executive
Summary
- Whitestone remains strong at a property level.
- The expensive underlying G&A has been significantly mitigated.
- This will allow the property performance to shine through to shareholders.
- Looking for a helping hand in the market? Members of Portfolio Income Solutions get exclusive ideas and guidance to navigate any climate. Learn More »
This article was amended on 2/2/2022 to reflect removal of a minor factual inaccuracy. The thesis remains unchanged.
Whitestone REIT (NYSE:WSR) has been an interesting stock to follow. Fundamentally, its shopping centers have significantly outperformed those of peers, yet the company has struggled to grow FFO/share due to excessive general and administrative expenses (G&A). For years the company has pledged to reduced G&A as a percentage of revenue and it has slowly ticked down but not fast enough to encourage investors. With the recent news, however, G&A may have been corrected in one fell swoop.
What happened?
On January 18th, WSR announced that its board had terminated James Mastandrea for cause, effective immediately. Dave Holeman will replace him as CEO.
The fact that this was a "for cause" firing is crucial because it avoids the $13 million golden parachute that would have come with a "not for cause" firing.
That would have been a big hit considering WSR is only a $500 million company.
Additionally, Mastandrea had to forfeit 251,357 restricted common shares that were scheduled to be awarded to him in the future.
It is not yet known what action led to the firing or what constituted it being for cause. However, the company has explicitly stated that it is not related to company financials.
Why this unlocks value for shareholders
To understand why this unlocks value for shareholders, we need some background information. Essentially, Whitestone has been performing well fundamentally, but the property level success has not been passed through to shareholders because so much of it went to management compensation.
Shown below is their same store net operating income growth (same store NOI).
Aside from the pandemic which hit basically every shopping center, Whitestone has consistently had strongly positive same store NOI. In fact, it was superior to most of the sector. Compare WSR's same store NOI above to that of Kimco (KIM) below.
Kimco is a large and well-respected shopping center REIT. Overall, WSR had slightly higher average growth rate.
However, the major challenge of Whitestone is that the organic growth did not hit FFO/share.
Far too much of it was consumed by G&A which even as the company grew remained about 15%-20% of revenue.
Source: author generated with data from SNL Financial and company filings.
A shopping center REIT should have G&A as a percentage of revenue of about 10%.
The lion's share of the G&A went to paying the salaries, bonuses, stock awards, LTIP, travel expenses, relocation expenses, and other to the Mastandreas.
Now, G&A can drop down to a normal level and the growth can begin to flow through to shareholders.
Value of the company with a more normalized cost structure
Whitestone has an excellent portfolio of shopping centers. I covered the property fundamentals more fully in a previous article so I will just summarize the main points here.
- Well located in high growth sunbelt markets
- High household income in catchment radii
- Trends look positive in terms of both rental rate and occupancy
Among the shopping center REITs, WSR is better positioned than most, yet it trades among the lowest in P/NAV and P/FFO.
With 2022 FFO estimated at $1.02 per share, WSR is right around 10X while the average shopping center REIT is closer to 14X.
A similar discount is seen in Net Asset Value (NAV) with WSR trading at 61.9% of NAV compared to the average REIT at a slight premium.
It could be argued that discounts of this magnitude could have been warranted when overcompensated management was sponging up growth before it made it to shareholders, but with a freshly cleaned out bench, I no longer see any reason for a discount.
Given the organic growth rate and the property quality/location, I think a normal 13X-15X FFO multiple would be appropriate for WSR. This implies roughly 30%-50% upside to fair value. Quite simply, these are great properties that can be had for 62 cents on the dollar.
Cultural problem?
Often when a company has management struggles the problem is not fixed by simply removing the CEO. Sometimes there are cultural problems that run deeper which are much harder to fix. I don't see that as being a problem here because Whitestone has been functioning fairly well.
The company is productive, sourcing accretive acquisitions and rejecting non-accretive acquisitions. Leasing seems appropriate with a healthy tenant mix. There seems to be talent throughout the organization.
Thus, I don't think there is a culture problem, it was simply a compensation problem. Unlike cultural problems, compensation problems can be solved with job cuts.
The Value has been unlocked
The market seems to be aware that the lid has been taken off the valuation with Whitestone moving up since announcement against the market's downdraft.
The now leaner structure may also be a catalyst for M&A. In the event of a buyout, the golden parachutes of the target's management would be triggered. Perhaps that $13 million parachute was serving as a deterrent.
What to watch going forward
While I am bullish on Whitestone, there are a few things I am watching as they could detract from its value:
- Fallout from the firing - we still don't know the exact cause so there could be some sort of unforeseen backlash.
- Compensation numbers on promoted executives. The base assumption is that new CEO pay will be significantly lower so I will be watching to ensure that is the case once the numbers come out.
Unrelated to the management shakeup, the general fundamental backdrop for shopping centers will be center stage. Early indicators of this would be consumer sentiment, consumer spending and job gains in the specific WSR submarkets such as Phoenix.
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2nd Market Capital Advisory Corporation (2MCAC) is a Wisconsin registered investment advisor. Dane Bowler is an investment advisor representative of 2nd Market Capital Advisory Corporation. | https://seekingalpha.com/article/4483314-whitestones-upside-is-unlocked-by-removal-of-an-expensive-executive | 2022-05-09T23:13:00Z | https://seekingalpha.com/article/4483314-whitestones-upside-is-unlocked-by-removal-of-an-expensive-executive | false | 1 |
Rebel Wilson reveals she was 'really unpopular' in high school and had to read self-help books to make friends
Rebel Wilson has opened up about her difficult high school days.
The actress, 42, revealed she was 'really unpopular' and read self-help books to make friends.
The Pitch Perfect star attended Tara Anglican School for Girls in Sydney's North Parramatta in the nineties, and completed her HSC in 1997.
'I just sat in the library by myself': Rebel Wilson (pictured) has revealed she was 'really unpopular' in high school and had to read self-help books to make friends
'I was really unpopular. In my first year of high school, I just sat in the library at lunch all by myself everyday,' Rebel said in an interview with Extra.
'I went on a deliberate mission to become popular. I read a book called "How to win friends and influence people" and it worked. In a year or two I was the most popular.'
Back in 2020, Rebel shared a photo from her high school musical in which she played a barrister, a long time before she pursue a legal degree at university.
Rebel thanked her friend for sharing the old high schools in the caption, and said: 'The last one (photo) cracks me up so hard - I was GANGSTA AF (as f**k) at year eight camp,' referring to the picture of herself in a cap.
Where's Rebel? The Pitch Perfect star attended Tara Anglican School for Girls in Sydney's North Parramatta in the nineties, and completed her HSC in 1997.She is pictured here (bottom right)
She added: 'PS shout out to all the cool chicks I went to school with (and the nice Kings boys [The King's College]... our musicals were lit) - total legends.'
Rebel is now considered one of the most famous comedic actresses in the world.
And she certainly turned heads when she stepped out in New York City on Thursday evening.
Throwback: Rebel is pictured during her high school years wearing a Mighty Ducks hat
The blonde star, who has shed more than 35kg (77lbs or 5.5st) in the last 18 months, looked absolutely stunning in an incredibly chic pink dress.
She showed off her slender midsection by cinching the frock in at the waist with a matching Valentino candy-coloured belt.
Rebel recently denied she lost weight using the Mayr Method diet plan
'I was really unpopular. In my first year of high school, I just sat in the library at lunch all by myself everyday,' Rebel said in an interview with Extra
Her weight loss has been widely attributed to the strategies developed by Austrian physician Dr Franz Xaver Mayr.
However, she distanced herself from the Mayr Method in a statement on Instagram last month, telling her 10.6 million followers: 'This was never my diet.'
The Mayr Method eliminates certain foods, reduces sugar and also encourages certain eating practices such as chewing food thoroughly.
Pretty in pink! Rebel is now considered one of the most famous comedic actresses in the world, and she certainly turned heads when she stepped out in New York City on Thursday evening
Setting the record straight: The sighting comes after the Pitch Perfect star denied she lost weight using the Mayr Method diet plan. Rebel is pictured left in August 2012 and on the right in April 2022
People magazine was the first publication to report Rebel had lost weight with the Mayr Method, citing a 'source' close to the actress.
The article, published in June 2020, claimed Rebel had seen 'amazing results' since adopting the method during her stay at the VivaMayr wellness centre in Austria.
This information has since been repeated countless times by other news outlets, with food website Mashed publishing an article last month stating she followed the diet and listing her corresponding day on a plate.
But Rebel did not correct the record until Monday April 18 when Daily Mail Australia ran a story about her dramatic slimdown, citing the Mashed report.
While Rebel has denied following the Mayr Method diet, she did spend time in 2020 at a wellness centre that uses Dr Mayr's techniques, which is perhaps where the confusion arose.
Fitness: While Rebel has denied following the Mayr Method diet, she did spend time in 2020 at a wellness centre that uses Dr Mayr's techniques, which is perhaps where the confusion arose | https://www.dailymail.co.uk/tvshowbiz/article-10799059/Rebel-Wilson-reveals-unpopular-high-school-read-books-make-friends.html | 2022-05-09T23:13:17Z | https://www.dailymail.co.uk/tvshowbiz/article-10799059/Rebel-Wilson-reveals-unpopular-high-school-read-books-make-friends.html | false | 2 |
Rev. Tope Olu-Daramola, General Overseer of the Redemption Chapels International, Ado-Ekiti, Ekiti State, has condemned the use of strike as strategy by labour unions to press home their demands as archaic, outdated and counter productive.
Olu-Daramola was reacting to the prolonged strike by the Academic Staff Union of Universities on Monday in a statement.
He advised the leadership of the union to adopt new result-oriented strategies to resolve its disagreement with the Federal and State Governments.
The religious leader’s advice was contained in the statement entitled: “My view on the strike by Nigerian Universities: Lecturers use your brain not brawn,” in Ado-Ekiti on Monday.
According to him: “Democracy is all about talking on issues from one person to another person, using greater reasoning and logic.
“That is why the only difference between a military government and the civilian government is the existence of the legislature.
“It is unfortunate that people who are supposed to be Intellectuals have to resort to brawns rather than brains to solve problems and issues.
“I am not saying that government is right in its approach, but the method being used by our learned lecturers to fight their righteous course is archaic, outdated, barbaric and counter productive.
“Under a democratic government, strike is counter productive, and I expect the learned lecturers to know better.
“By and large, politicians will come and go. President and Governors have a maximum of eight years of two terms. An academic has a career span of possibly about 40 years or more.
“It is therefore unreasonable for lecturers to allow the university system and structure to be destroyed as it is being done now because they are in conflict with the government.”
The religious leader pleaded with the leadership of ASUU to consider the plight of students and their parents and return to work while they considered the option of round table negotiation to resolve the impasse .
ASUU, which has had to extend its warning strike embarked on February 14, has again extended the strike indefinitely as its warning strike ended on Monday. | https://theeagleonline.com.ng/asuu-strike-clergyman-decries-method-says-its-outdated/?utm_source=rss&utm_medium=rss&utm_campaign=asuu-strike-clergyman-decries-method-says-its-outdated | 2022-05-09T23:15:30Z | https://theeagleonline.com.ng/asuu-strike-clergyman-decries-method-says-its-outdated/?utm_source=rss&utm_medium=rss&utm_campaign=asuu-strike-clergyman-decries-method-says-its-outdated | true | 2 |
As previously reported by REVOLT, on April 12, a violent subway attack happened in a Brooklyn subway near the Sunset Park neighborhood. During the attack, 10 people were shot. As many as 19 others were injured in the height of their morning rush-hour commute.
The accused gunman Frank R. James was later arrested and now faces life in prison for his crimes.
On Friday (May 6), James was indicted in a Brooklyn federal court on two counts. One of James’ charges includes a count of terrorist attack and other violence against a mass transportation system. The other count he faces is for discharging a firearm during a crime of violence.
According to reports, James firing a weapon could land him a mandatory minimum sentence of 10 years. The maximum would be life.
As of now, there has been no date set for his arraignment. Sources say that in addition to his possible life sentences, if convicted, James would have to turn over all of his assets.
Judge William Kuntz will preside over the case.
During the subway attack, James allegedly wore a gas mask and threw gas canisters as he began firing into the crowd, causing complete chaos. Undetonated devices were also found at the scene.
No motive was given on why the shooting occured, however, James was linked to several YouTube videos where he ranted about race and violence. Those videos have been removed from the platform.
Last month, James’ attorneys accused federal agents of failing to properly question their client. They added that authorities allegedly took DNA samples and made him sign certain documents.
On April 13, New York Mayor Eric Adams appeared on “Good Morning America” to give an update on the case. Adams noted that he wanted to be “extremely careful” when discussing the specifics of an ongoing investigation.
“Things that happen at the beginning of the case can actually get in the way of the prosecution and we don’t want this person to get away.” | https://www.revolt.tv/article/2022-05-09/167741/brooklyn-subway-attacker-indicted/ | 2022-05-09T23:21:05Z | https://www.revolt.tv/article/2022-05-09/167741/brooklyn-subway-attacker-indicted/ | true | 1 |
WASHINGTON, May 9, 2022 /PRNewswire/ -- NASA and Boeing will hold a media teleconference at about 6 p.m. EDT on Wednesday, May 11, following the Flight Readiness Review for the agency's Boeing Orbital Flight Test-2 (OFT-2), the second uncrewed flight test of the company's CST-100 Starliner spacecraft for the agency's Commercial Crew Program.
Audio of the teleconference will stream live on the agency's website.
The teleconference will focus on the readiness of the flight test and is targeted to begin approximately one hour after the readiness review concludes with the following participants:
- Kathryn Lueders, associate administrator, NASA's Space Operations Mission Directorate
- Steve Stich, manager, NASA's Commercial Crew Program
- Joel Montalbano, manager, NASA's International Space Station Program
- Emily Nelson, acting chief flight director, NASA's Flight Operations Directorate
- Mark Nappi, vice president and program manager, Boeing Commercial Crew Program
Media wishing to participate in the teleconference must RSVP by 5 p.m., Wednesday, May 11, by emailing the newsroom at NASA's Kennedy Space Center in Florida at: ksc-newsroom@mail.nasa.gov. A copy of NASA's media accreditation policy is online.
OFT-2 is targeted to launch at 6:54 p.m. Thursday, May 19, from Space Launch Complex-41 at Cape Canaveral Space Force Station in Florida. Starliner will launch on a United Launch Alliance Atlas V rocket for its uncrewed test to the International Space Station.
Starliner is expected to arrive at the space station for docking about 24 hours after launch with more than 500 pounds of NASA cargo and crew supplies. After a successful docking, Starliner will spend five to 10 days aboard the orbiting laboratory before returning to Earth in the western United States. The spacecraft will return with nearly 600 pounds of cargo, including reusable Nitrogen Oxygen Recharge System (NORS) tanks that provide breathable air to station crew members.
More details about the flight test and NASA's commercial crew program can be found by following the commercial crew blog, as well as on Twitter and Facebook.
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SOURCE NASA | https://www.ky3.com/prnewswire/2022/05/09/nasa-boeing-discuss-readiness-uncrewed-flight-test/ | 2022-05-09T23:26:16Z | https://www.ky3.com/prnewswire/2022/05/09/nasa-boeing-discuss-readiness-uncrewed-flight-test/ | true | 10 |
You need to enable JavaScript to run this app. | https://sportspyder.com/nba/boston-celtics/articles/39442728 | 2022-05-09T23:26:45Z | https://sportspyder.com/nba/boston-celtics/articles/39442728 | true | null |
If you're trying to get more cardio into your workout routine, one staple machine you're likely to encounter is the treadmill. Love it or hate it (some lovingly refer to it as the 'dreadmill'), it's actually one of the most diverse cardio machines you can use. Whether you prefer to log long miles, run sprint circuits, or throw on a weighted vest and crank up the incline, you're going to burn some serious calories.
Maybe you have a running goal for 2022 (like running your first half marathon or full marathon), or you're trying to increase your daily step count (nope, you don't have to hit 10,000 steps a day to lose weight). You might just like the ease of working out at home rather than hauling your butt to the gym. Either way, your body will thank you for the time spent getting your sweat on. And if you don't have a treadmill in your home gym, but are considering adding one, we know that it's no small investment. That's why Garage Gym Reviews founder Cooper Mitchell, one of the best resources in home gym equipment, weighed in on some of these picks.
Combining a deep knowledge of fitness brands and high-quality standards, Mitchell won't steer you in the wrong direction. We also threw in a few of our picks to give you some more options to consider. If you're ready to pull the trigger and add a treadmill to your home gym, this comprehensive list will help you pick the best one for your needs. Here are your 12 best treadmill options for 2022.
This treadmill is the latest and greatest from NordicTrack—brand new for 2022. The EXP line of treadmills are specifically designed for at-home use and are NordicTrack's most personalizable and smartest machines, featuring the ActivePulse™ heart rate monitor and AutoAdjust™ technology that automates speed and incline adjustments throughout your workout. The EXP 14i is driven by a powerful 3.5 continuous horsepower motor with speeds up to 12 MPH as well as a wide decline/incline range from -3% to 12%. In addition to the commercial-grade motor and tread belt, this model has a 14-inch HD touchscreen display with live iFit classes.
The XTERRA TRX 3500 is a great option if you're looking for a more affordable treadmill and you're tight on space. It is built with a durable steel frame, has a max speed of 12 MPH and max incline of 12%, the motor is quiet, and it is foldable so it can be easily stored in an upright position. The treadmill also has Lift Assist and Safe Drop features that make it easy and practical to fold up and set up between uses, and built-in wheels that make for easy transport. Instead of an interactive touchscreen, it has a 6.5-inch bright blue LCD display that comes with 30 built-in programs so you can let the treadmill challenge you. If you want to connect to other third party apps, it also has Bluetooth capabilities.
Bowflex is not messing around with this treadmill. It has a 400 pound capacity, so it's built for maximum durability. It also has a major incline of 20% and decline of -5% (the widest range on this list), mimicking real life uphill and downhill running. It folds up with the touch of a button thanks to the brand's SoftDrop™ folding system. It's finished off with powerful built-in fan and a large 22-inch HD touchscreen, where you can access the brand's JRNY membership for tons of great workouts to push you even further.
The Weslo Cadence G 5.9i Treadmill is a budget device that isn’t exceptionally fast, large, or feature-filled. But, it has one great thing going for it and that is a low cost. Many home gym owners want a treadmill that doesn’t break the bank, doesn’t require a lot of maintenance, and works when they want it to. The Weslo G 5.9i generally meets all of these specifications. It folds up to save space, has a decent warranty and is cushioned throughout. We wouldn’t suggest this treadmill for someone who plans to put a lot of miles in, but for many, this is a great option.
If you’re on a budget, but still want a treadmill with speed, then this one’s for you. The ProForm Pro 2000 has solid speed, topping out at 12 MPH, a weight capacity of 300 pounds, and the ability to incline quickly up to a 12% grade. Essentially, it’s a slightly cheaper version of what’s often seen in big commercial gyms. At the top of the machine are two screens for both operating the machine and following along with pre-recorded workouts. Plus, below the screen, it features a large built-in CoolAire™ fan that is superior to the fans included on most treadmills.
The Peloton Tread takes on the popularity of a live studio experience found on the Peloton Bike and makes it available for those who prefer to run. Featuring a best-in-class 23.8" HD touchscreen on the front of the treadmill, the Tread makes you feel like you’re running with hundreds of others in a class environment. We’ve found this type of experience can increase how much people actually use their treadmills. Translation: Sure, this baby is expensive, but it’s worth the money. It’s an experience unlike any other that pretty much everyone has tried to copy. I recommend the Peloton Tread for those that like a group class environment from the comfort of their own home.
Despite the lofty price point, be sure to avoid the temptation of buying a discounted used machine and get yours new. It is unfortunately prone to maintenance-related issues and you’ll want a warranty in case that happens to yours.
The TrueForm Runner is by far the beefiest, most overbuilt treadmill I’ve ever reviewed. It’s non-motorized, meaning the only thing powering it is you, and trust me, you’ll feel it. It features over 200 ABEC Bearings that the rubber track runs on to create a smooth, yet responsive feeling that is superior to standard treadmills. Although the TrueForm Runner is built to take a beating, it’s unique shape is actually incredibly well thought out. Rather than being flat, the curved design is there to help improve your running form by forcing you to go from heel striking to a mid-foot strike (which is a much better way to run.) And because it’s powered by you, you’ll get better hamstring and glute engagement — and you’ll be able to reach speeds that many conventional treadmills can’t, if you’re so inclined. If you want to sprint or interval-train with true intensity on a treadmill, this is the way to go, even if there is a bit of a learning, err, curve to this one.
Another new launch this year from NordicTrack, the Commercial 2450 Treadmill is a new and improved version of their popular commercial series. The most notable upgrade is the massive 22" tilt and pivot touchscreen. The snazzy redesigned frame doesn't hurt, either. As the name suggests, this is treadmill designed for a commercial gym setting, but it manages to fit in perfectly as a home device too.
Commercial treadmills are made to take a greater beating than those designed for personal use. They use more robust motors, better quality belts, and have more intuitive displays. Yes, they cost more, but they also have a much longer life. This one isn’t for everyone, but if you want something that can take whatever you throw at it, this is the best way to go.
Although we prefer the TrueForm Runner, the Assault Air Runner is a more budget-friendly version with a heavier belt that allows you to run faster. We find the TrueForm to better simulate road running, but there are many that prefer the Assault Air Runner. Having been used in the CrossFit Games multiple times, the Assault Air Runner is non-motorized with a thick rubber tread that feels very comfortable in comparison to the rubber belts often seen on traditional treadmills. In addition to being used for running, motorless treadmills like the Air Runner can also be used for deadlifting the back end of the treadmill (they’re built like tanks, so there’s no problem using them in this way) and for various core exercises like walking planks. All in all, non-motorized treadmills are extremely versatile and durable and the Air Runner is one of the best values in the category currently available.
Life Fitness' Run CX treadmill brings an outdoor running experience into your house, keeping your knees and ankles cushioned against the stresses of running thanks to a FlexDeck Shock Absorption System and offering a host of on-demand classes that you can watch on a tablet of your choice as well. This is a premium treadmill that's built to last, too, and it's sturdy enough to accommodate more than running, letting you work in lateral shuffles, and backpedals. too.
The Echelon Stride Treadmill is a great all-around option. It is considered a 'smart' treadmill, and has tons of sweet tech features to help you make the most of your workout. To start, it can fold up automatically to save you space in a snap. It also has a large LED touchscreen display with Bluetooth that allows you to use Echelon’s on-demand fitness program to diversify your workouts. It can be adjusted to 12 different speed levels (up to 12 MPH) and goes up to a 10% incline if you're looking to challenge yourself.
The SKILLMILL is a non-motorized treadmill similar to the Assault Air Runner and TrueForm Treadmill that are also on this list, but it’s more than that, too. Rather than just being made for running, the SKILLMILL utilizes “Multidrive Technology” that creates resistance on the free-spinning tread belt to turn the treadmill into a simulated sled push. Several companies have tried to duplicate this, but TechnoGym is absolutely producing the best version—it only takes a few minutes on the SKILLMILL to realize it’s unlike any other treadmill you’ve ever used. You can go from walking to running to feeling like you’re pushing hundreds of pounds on a track. It’s incredibly versatile, great for home use where sled drags are difficult to perform, and is made to take a beating.
This content is created and maintained by a third party, and imported onto this page to help users provide their email addresses. You may be able to find more information about this and similar content at piano.io | https://www.menshealth.com/fitness/g30199601/best-treadmills/ | 2022-05-09T23:27:05Z | https://www.menshealth.com/fitness/g30199601/best-treadmills/ | false | 1 |
WFO EUREKA Warnings, Watches and Advisories for Tuesday, May 10, 2022
_____
HARD FREEZE WARNING
URGENT - WEATHER MESSAGE
National Weather Service Eureka CA
203 PM PDT Mon May 9 2022
...HARD FREEZE WARNING REMAINS IN EFFECT FROM 2 AM TO 8 AM PDT
TUESDAY...
* WHAT...Sub-freezing temperatures as low as 22 expected.
* WHERE...Southern Trinity, Del Norte Interior, Northeastern
Mendocino Interior, Northern Humboldt Interior, Northern
Trinity, Southern Humboldt Interior, Northern Lake and
Northwestern Mendocino Interior Counties.
* WHEN...From 2 AM to 8 AM PDT Tuesday.
* IMPACTS...Frost and freeze conditions will kill crops, other
sensitive vegetation and possibly damage unprotected outdoor
plumbing.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
Take steps now to protect tender plants from the cold. To prevent
freezing and possible bursting of outdoor water pipes they should
be wrapped, drained, or allowed to drip slowly. Those that have
in-ground sprinkler systems should drain them and cover above-
ground pipes to protect them from freezing.
Frost Advisories and Freeze Warnings are issued during the local
growing season as defined by climatology and local agriculture
experts. Once the growing season has ended these statements will
no longer be issued until the spring.
...FREEZE WARNING REMAINS IN EFFECT FROM 2 AM TO 8 AM PDT
* WHAT...Sub-freezing temperatures as low as 30 expected.
* WHERE...Mendocino Coast, Southeastern Mendocino Interior,
Southwestern Humboldt, Southwestern Mendocino Interior and
Southern Lake Counties.
* IMPACTS...Frost and freeze conditions will kill crops and
other sensitive vegetation.
Take steps now to protect tender plants from the cold. Provide
adequate shelter for outdoor pets or consider bringing them
indoors.
...FROST ADVISORY REMAINS IN EFFECT FROM 2 AM TO 8 AM PDT
* WHAT...Temperatures as low as 33 will result in frost
formation.
* WHERE...Coastal Del Norte and Northern Humboldt Coast Counties.
* IMPACTS...Frost could kill sensitive outdoor vegetation if
left uncovered.
Take steps now to protect tender plants from the cold.
_____
Copyright 2022 AccuWeather | https://www.expressnews.com/weather/article/CA-WFO-EUREKA-Warnings-Watches-and-Advisories-17160405.php | 2022-05-09T23:28:11Z | https://www.expressnews.com/weather/article/CA-WFO-EUREKA-Warnings-Watches-and-Advisories-17160405.php | false | 32 |
Parents´ fear post-Covid mental health epidemic
Three in four parents say they are worried about their child’s mental health following the pandemic, a new survey has found.
The survey of more than 2,000 parents, commissioned by BBC Bitesize and Netmums, found that 74% of parents are concerned about their child’s mental health, with the same proportion reporting that their child’s mental health had become a greater priority for them since the pandemic.
Nearly half, 44%, said that their child had experienced mental health challenges, and 46% said their child had been lonely because of the pandemic.
The results also showed the impact of lockdowns on children’s social skills and confidence.
In total, 48% reported that their child was having difficulties with friendships and socialising, and two in three – 66% – said that their child had been anxious about not being able to see friends and family as often as they usually would.
Nearly three in 10 – 28% – said that their child’s mental health had deteriorated over the last six months.
The survey showed the impact of lockdowns on children´s social skills and confidence (Gareth Fuller/PA)
BBC Bitesize’s Parents Toolkit and Netmums have launched a collaboration, #LetsTalkAboutChildMentalHealth, connecting parents with mental health experts, as well as providing information to help them talk to their child about mental health.
A Mental Health First Aid Kit will be available for families needing to access help, and educational psychologist Laverne Antrobus will give advice to parents on how to discuss the issue with their children.
The charity YoungMinds will also provide tips on how to encourage children to engage with life outside the home post-pandemic.
Helen Foulkes, head of content production from BBC Bitesize, said: “The statistics speak for themselves, concerns about child mental health and the overall wellbeing of families post-pandemic are reaching a crunch point.”
Netmums editorial director Anne-Marie O’Leary said: “Parents have told us since the earliest days of the pandemic that their children’s mental health was becoming a growing concern.”
She added that the latest research “evidences just how severe the cumulative impact of two years of interrupted schooling and social distancing measures has been”. | https://www.dailymail.co.uk/wires/pa/article-10799305/Parents-fear-post-Covid-mental-health-epidemic.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 | 2022-05-09T23:28:16Z | https://www.dailymail.co.uk/wires/pa/article-10799305/Parents-fear-post-Covid-mental-health-epidemic.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 | true | 11 |
2 civilians injured in encounter at Shopian in J&K
By IANS | Published: May 10, 2022 03:25 AM2022-05-10T03:25:10+5:302022-05-10T03:40:08+5:30
Srinagar, May 10 Two civil have been injured in an ongoing encounter between terrorists and security forces at ...
Srinagar, May 10 Two civil have been injured in an ongoing encounter between terrorists and security forces at Pandoshan area in South Kashmir's Shopian district, officials said on Tuesday.
"During initial cordon and search operation, terrorists fired upon civil and tried to escape, in which two civil got injured. Both the injured shifted to hospital. One of them is critical. Cordon strengthened," police said.
The firefight between terrorists and security forces took place on Monday after a joint team of the police and the security forces cordoned off the area and launched a search operation on the basis of specific information about presence of terrorists.
As the security forces zeroed in on the spot where terrorists were hiding they came under a heavy volume of fire that triggered the encounter.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Open in app | https://www.lokmattimes.com/national/2-civilians-injured-in-encounter-at-shopian-in-jk/ | 2022-05-09T23:28:51Z | https://www.lokmattimes.com/national/2-civilians-injured-in-encounter-at-shopian-in-jk/ | true | 3 |
Fintech startup Yapily is announcing that it plans to acquire finAPI — the transaction is subject to regulatory approvals before it closes. Both companies offer open banking solutions in Europe.
With this move, Yapily is consolidating its position in Europe and growing its business in Germany, more specifically. The terms of the deal are undisclosed, but the company says it is a “multi-million” transaction.
Based in the U.K., Yapily offers a single, unified open banking API to interact with bank accounts. Unlike Tink or TrueLayer, Yapily offers a low-level solution without any front-end interface. Developers have to code their own bank connection flow. The result is more control and no Yapily logo.
Due to European PSD2 regulation, banks have to offer programming interfaces (APIs) so that they can work better with third-party services. Yapily has focused specifically on official API integrations and covers thousands of banks. It doesn’t rely on screen scraping and private APIs.
Companies can leverage open banking to check the balance on a bank account, fetch the most recent transactions, but also initiate payments directly from a bank account.
FinAPI is also an open banking provider. Originally from Munich, Germany, the company has been around since 2008 — Schufa acquired a majority stake in finAPI in 2019. It offers an API with coverage in Germany, Austria, Czech Republic, Hungary and Slovakia. Like Yapily, finAPI clients can obtain account information and initiate payments using an API.
In addition to those pure open banking products, finAPI also offers the ability to verify the age and identity of a customer. This can be useful to comply with KYC (“Know Your Customer”) regulation.
Yapily currently covers 16 European markets and the company says it is the leader in the U.K. But the startup isn’t currently active in Czech Republic, Slovakia and Hungary. With today’s acquisition, the company is expanding to these three new markets and becoming the leader in Germany.
As you can see, there’s some product feature overlap between Yapily and finAPI. And the acquisition makes sense as the two companies didn’t start in the same market.
Yapily works with companies like American Express, Intuit QuickBooks, Moneyfarm, Volt, Vivid and BUX. FinAPI’s clients include ING, Datev, Swiss Life, ImmobilienScout24 and Finanzguru.
“This is a hugely exciting milestone for Yapily on our journey from disruptive startup to ambitious scale-up. Within three years from launch, we have commercialized our platform, grown our customer base, and now have the largest open banking payments volumes in Europe. Working with finAPI, we can gain more speed, agility, and depth to accelerate innovation and shape the future of open finance in Europe and beyond,” Yapily founder and CEO Stefano Vaccino said in a statement.
When it comes to payments in particular, Yapily and finAPI have processed a combined total of $39.5 billion in payment volumes over the last 12 months. Essentially, Yapily will double its customer base with this acquisition. | https://techcrunch.com/2022/05/09/yapily-to-acquire-finapi-in-open-banking-consolidation-move/ | 2022-05-09T23:33:09Z | https://techcrunch.com/2022/05/09/yapily-to-acquire-finapi-in-open-banking-consolidation-move/ | false | 4 |
NEW YORK (AP) _ New Mountain Finance Corp. (NMFC) on Monday reported first-quarter earnings of $36.2 million.
On a per-share basis, the New York-based company said it had profit of 34 cents. Earnings, adjusted for investment gains, came to 30 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 30 cents per share.
The business development company posted revenue of $69 million in the period.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NMFC at https://www.zacks.com/ap/NMFC | https://www.darientimes.com/business/article/New-Mountain-Q1-Earnings-Snapshot-17160556.php | 2022-05-09T23:35:19Z | https://www.darientimes.com/business/article/New-Mountain-Q1-Earnings-Snapshot-17160556.php | false | null |
is for sale
Your burning questions about domain sales, answered.
No matter what kind of domain you want to buy, lease or rent, we make the transfer simple and safe. It works like this:
Step 1: You buy, rent or lease the domain name
You will find the available purchasing options set by the seller for the domain name wesellaustralia.com on the right side of this page.
Step 2: We facilitate the transfer from the seller to you
Our transfer specialists will send you tailored transfer instructions and assist you with the process to obtain the domain name. On average, within 24 hours the domain name is all yours.
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And we’re done! Unless you require our assistance. Our transfer team is available for free post-transfer assistance. | https://dan.com/buy-domain/wesellaustralia.com | 2022-05-09T23:37:35Z | https://dan.com/buy-domain/wesellaustralia.com | true | null |
Champaign, Ill. (WCIA)
SpotOn is all about helping our community find more ways to easily patronize local business, giving local businesses ways to easily leverage technology to benefit themselves while providing great products and services to the local community. When SpotOn does business with local businesses, we most often save them money while giving them more and better ways to serve their customers (More ways to increase revenue while saving them money at the same time! Incredible right?)
SpotOn and I provide local, small businesses with tools to compete with and win against “Big Box” stores that aren’t as vested in the betterment of our local community. SpotOn lowers card processing costs for businesses and helps small businesses offer better services to the community. We often say we increase customer engagement with local small businesses by using Point of Sale technology combined with Loyalty software. SpotOn now has an incredible Retail Platform that provides merchants with a way to simultaneously manage in-store and online inventories as well as arrange for 2 day national delivery and SAME DAY local delivery which is better that Amazon. Again, allowing local businesses to serve local customers.
SpotOn actively partners with businesses to help them succeed. SpotOn believes that in order for us to make money, we have to help others make money and to support local businesses to be vital parts of their community. There are some companies that do some of what we do but NONE do all the things we do integrated under one “umbrella” to provide complementary products and services to help merchants thrive as they adapt to all the changes that are occurring every day. SpotOn NEVER stops looking for new ways to provide technology to help. Very very different than other merchant services companies that just process credit card transactions. | https://www.wcia.com/ciliving-tv/encouraging-customer-loyalty-with-spoton/ | 2022-05-09T23:47:16Z | https://www.wcia.com/ciliving-tv/encouraging-customer-loyalty-with-spoton/ | true | 1 |
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