text stringlengths 65 123k | url stringlengths 25 420 | crawl_date timestamp[us, tz=UTC]date 2022-04-01 01:00:57 2022-09-19 04:34:04 |
|---|---|---|
How can you decrease your chance of getting tree damage from a storm?
AUGUSTA COUNTY, Va. (WHSV) - Tuesday’s severe weather toppled numerous trees in the Fishersville and Waynesboro area with a few trees landing on homes.
So how can you reduce the chances of having a tree on your property cause major structural damage?
“The best thing to do is if you have a limb or anything going out on the top of a roof or a powerline, or any kind of structure or anything is to make sure that limb is off the sides of the tree,” said Howard Ewing, owner, and operator of H&C Tree Service in Waynesboro.
It’s not hard to point out trees that could cause trouble, there are plenty around that can.
“There’s a limb over top of that vehicle over there... it shouldn’t be there I mean you should trim that stuff off. Anything that’s hanging over like that because the wind can catch it, and just tear it apart,” said Ewing.
Ewing said even dead trees that are not near a structure may need to be taken down.
“You can tell with the bark coming off of it, the tree is completely dead. There are bugs inside of it that if you don’t cut it down soon enough, those bugs are going to travel to the other tree and eat the tree up, and then you’re just going to have more problems,” said Ewing.
Tree removal can be expensive. There is one thing you can do to at least lower the costs of tree removal services.
“Just trim it up. I mean you know it would be easier because you can get a lift in there depending on where it’s at. Take a 60-foot lift in there, put it up there and just lower the limbs down a little bit around the roof and stuff instead of cutting it down but it’s still going to be about half of what it does to cut them completely down,” said Ewing.
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/04/29/how-can-you-decrease-your-chance-getting-tree-damage-storm/ | 2022-04-29T06:04:30Z |
Jaguars take ‘athletic freak’ Walker with top pick in NFL draft
JACKSONVILLE, Fla. (AP) — Placing more emphasis on pro potential than college production, the Jacksonville Jaguars chose Georgia pass rusher Travon Walker with the top pick in the NFL draft on Thursday night.
The Jaguars took the 6-foot-5, 272-pound “athletic freak” over Michigan star Aidan Hutchinson, who set a school record with 14 sacks in 2021 and finished second in Heisman Trophy voting.
General manager Trent Baalke had been leaning toward Walker for months and insisted new coach Doug Pederson was totally in agreement on selecting the former Bulldogs defender at No. 1. Critics argued that Hutchinson was the more polished product and pointed to Walker’s limited college numbers. He had 9½ sacks in three years in Athens, Georgia, including six during last season’s national championship run.
But Baalke and Pederson see a more versatile player in Walker, who logged snaps at defensive end, defensive tackle and outside linebacker in Georgia’s vaunted defense last fall. His highlights include more than sacks; he stops the run, tackles speedy receivers in the open field and tips passes that lead to interceptions.
“He’s an athletic freak,” Georgia defensive coordinator Will Muschamp told The Associated Press. “I swear to God he could line up at middle linebacker and go be fine. I would take him at No. 1 and not even blink.”
The Jaguars did just that.
Once a two-sport star with NBA dreams at Upson-Lee High School in Thomaston, Georgia, Walker eventually settled on football and quickly became one of the most sought-after recruits in talent-rich Georgia. He signed with the Bulldogs and played college ball a little more than 100 miles from his hometown.
He bided his time as a backup during his first two years at Georgia – he made the league’s Freshman All-SEC Team – and really started to blossom as a junior. He started all 15 games in 2021, finishing with 37 tackles, including 7½ for a loss, and two pass breakups.
Muschamp first met Walker when he was 10 years old and now considers him one of the best kids he’s ever coached.
“There’s not a single red flag,” Muschamp said. “He’s the real deal now.”
Jacksonville is the fourth NFL franchise with back-to-back No. 1 picks and is hoping to become the first to nail both selections. Tampa Bay (1976-77, 1986-87), Cincinnati (1994-95) and Cleveland (1999-2000, 2017-18) all failed to find success both times.
The Jaguars believe quarterback Trevor Lawrence, the slam-dunk top choice a year ago, is on the verge of becoming a star and just needs more help around him.
Jacksonville signed tight end Evan Engram and receivers Christian Kirk and Zay Jones in free agency to help Lawrence. They also brought in five-time Pro Bowl guard Brandon Scherff to help revamp an offensive line that allowed Lawrence to be sacked 32 times.
Offensive tackles Ikem “Ickey” Ekwonu and Evan Neal were under consideration at No. 1 but improving the team’s pass rush proved to be a more pressing priority. The Jags still expect to use at least two of their 12 total selections to bolster Lawrence’s protection and potentially his receiving corps.
But for now, they have a defensive building block to pair with fellow pass rusher Josh Allen in hopes of immediately improving a defense that ranked 20th in the league in yards allowed in 2021, tied for 27th with 32 sacks and gave up nearly 27 points a game.
___
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. | https://www.whsv.com/2022/04/29/jaguars-take-athletic-freak-walker-with-top-pick-nfl-draft/ | 2022-04-29T06:04:37Z |
JMU adds transfer guard from South Dakota State
HARRISONBURG, Va. (WHSV) - The James Madison men’s basketball team added a guard from the transfer portal late Thursday night.
Noah Freidel announced on Twitter that he has committed to JMU. Freidel is a transfer from South Dakota State who averaged 14.2 points per game and shot 39.6% from three-point territory while playing in 17 games and making nine starts for the Jackrabbits. SDSU won 30 games and made an appearance in the NCAA Tournament this past season.
On March 18, Freidel announced he was entering the transfer portal saying on Twitter: “It is my hope to find an athletic program who is better committed to supporting the mental health of their student athletes.” He’s expected to be an impact player immediately for the Dukes.
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/04/29/jmu-adds-transfer-guard-south-dakota-state/ | 2022-04-29T06:04:46Z |
JMU football transfer portal updates
Published: Apr. 28, 2022 at 9:13 PM EDT|Updated: 4 hours ago
HARRISONBURG, Va. (WHSV) - Updates regarding the NCAA transfer portal and the James Madison football team after the Dukes recently wrapped up spring practice.
Incoming Transfers
Troy Lewis
-Wide Receiver from East Carolina University
-Four years of eligibility remaining
Outgoing Transfers
Austin Douglas (RB)
-68 carries, 328 rushing yards, 9 receptions, 97 receiving yards, 1 TD in three seasons at JMU
Messiah Russell (S)
Matei Fitz (DL)
Lance Blankenship (DL)
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/04/29/jmu-football-transfer-portal-updates/ | 2022-04-29T06:04:52Z |
Live Nation: $25 Concert Week tickets for Backstreet Boys, Pitbull and 3,700+ concerts
(Gray News) - Live Nation announced its Concert Week lineup which fans can purchase tickets to more than 3,700 shows across the U.S. this summer for $25.
The entertainment company said the Concert Week $25 tickets will be available from May 4-10 and cover genres from country, pop, hip-hop, alternative and more.
The shows will be taking place in venues ranging from small clubs to giant stadiums, according to the announced lineup.
Live Nation said the performers will include 5 Seconds of Summer, Alanis Morissette, Alicia Keys, Backstreet Boys, Brad Paisley, Brandi Carlile, Chicago, Duran Duran, Eric Church, Imagine Dragons, Jack White, John Legend, Jonas Brothers, Keith Urban, Kenny Chesney, Lady A, Machine Gun Kelly, Santana, Shania Twain, Shawn Mendes, The Black Keys, Wu-Tang Clan, Zac Brown Band and many more.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/04/29/live-nation-25-concert-week-tickets-backstreet-boys-pitbull-3700-concerts/ | 2022-04-29T06:04:59Z |
Local non-profit helping out small business and entrepreneurs
HARRISONBURG, Va. (WHSV) - A local non-profit known as the Shenandoah Community Capital Fund (SCCF) is helping out small businesses and young entrepreneurs by providing microloans to get them started.
Kristin Derfligner of the SCCF said that this option can be an alternative if it is hard to get commercial lending from banks and credit unions.
“Sometimes the systems that are created such as getting funding... there are just barriers there and we provide that bridge for the barriers to capital and funding for their business,” said Derflinger.
Loans range from $1,000 to $50,000 and can be used for a variety of expenses including working capital, equipment, and inventory.
To apply for this loan, you can click here.
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/04/29/local-non-profit-helping-out-small-business-entrepreneurs/ | 2022-04-29T06:05:06Z |
Ohio man says his Lifeline button didn’t work after fall
CLEVELAND, Ohio (WOIO/Gray News) - Ricky Polk sat on his back porch last Saturday, enjoying the warm weather for more than an hour.
Polk said when he got up to go inside, he took a tumble down the stairs.
He went to push his Lifeline button for help, but it didn’t work.
“I couldn’t move, I was in severe pain,” Polk said.
Polk told us he called Lifeline to see why it didn’t work.
“I got a recording saying all their representatives were busy and I could wait or we can call you back,” Polk said.
But he never did get a call back from Lifeline.
So he called the 19 News troubleshooter team to see if we could help.
While there Polk pushed his button to see if it would work, but nothing happened.
Then, moments later without pushing the button, it began to ring.
A call center operator answered the phone, and Polk told her about his problem.
Before they hung up he was promised that someone would call him within 24 hours.
“That’s false security, I’m thinking I got some help when I push that button but I don’t,” Polk said.
19 News called Lifeline to make sure Polk got connected. The company called back saying they have been trying to connect with Polk.
Lifeline explained that the system seemed to be working on their end.
The company promised to get in touch with Polk and replace his system if they found any issues.
Copyright 2022 WOIO via Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/04/29/ohio-man-says-his-lifeline-button-didnt-work-after-fall/ | 2022-04-29T06:05:12Z |
Police: 13 men arrested after trying to solicit children for sex during internet sting operation
LAS VEGAS (Gray News) - Police in Las Vegas made more than a dozen arrests this week during a recent internet sex sting operation.
The Las Vegas Metropolitan Police Department reports that 13 men in total were taken into custody in a joint operation with the Internet Crimes Against Children Task Force Program.
Officials said the task force was joined by the LVMPD Vice Section and numerous federal partners over a two-day operation from April 26-27 in which individuals posed as children online and were solicited by the men for sex.
A meeting was set and the suspects were arrested, according to the LVMPD.
Officers urged parents to speak to their kids about the dangers posed by strangers online and to review their social media chat histories.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/04/29/police-13-men-arrested-after-trying-solicit-children-sex-during-internet-sting-operation/ | 2022-04-29T06:05:21Z |
UN head condemns attacks on civilians during Ukraine visit
KYIV, Ukraine (AP) — The head of the United Nations said Ukraine has become “an epicenter of unbearable heartache and pain” — a description underscored a short time later by the first Russian strike on the capital since Moscow’s forces retreated weeks ago.
Russia pounded targets all over Ukraine on Thursday, including the attack on Kyiv that struck a residential high-rise and another building and wounded 10 people, including at least one who lost a leg, according to Ukraine’s emergency services.
The bombardment came barely an hour after Ukrainian President Volodymyr Zelenskyy held a news conference with U.N. Secretary-General Antonio Guterres, who toured some of the destruction in and around Kyiv and condemned the attacks on civilians.
Meanwhile, explosions were reported across the country, in Polonne in the west, Chernihiv near the border with Belarus, and Fastiv, a large railway hub southwest of the capital. The mayor of Odesa, in southern Ukraine, said rockets were intercepted by air defenses.
Ukrainian authorities also reported intense Russian fire in the Donbas — the eastern industrial heartland that the Kremlin says is its main objective — and near Kharkiv, a northeastern city outside the Donbas that is seen as key to the offensive.
In the ruined southern port city of Mariupol, Ukrainian fighters holed up in the steel plant that represents the last pocket of resistance said concentrated bombing overnight killed and wounded more people. And authorities warned that a lack of safe drinking water inside the city could lead to outbreaks of deadly diseases such as cholera and dysentery.
In Zaporizhzhia, a crucial way station for tens of thousands of Ukrainians fleeing Mariupol, an 11-year-old boy was among at least three people wounded in a rocket attack that authorities said was the first to hit a residential area in the southern city since the war began. Shards of glass cut the boy’s leg to the bone.
Vadym Vodostoyev, the boy’s father, said: “It just takes one second and you’re left with nothing.”
The fresh attacks came as Guterres surveyed the destruction in small towns outside the capital that saw some of the worst horrors of the first onslaught of the war. He condemned the atrocities committed in towns like Bucha, where evidence of mass killings of civilians was found after Russia withdrew in early April in the face of unexpectedly stiff resistance.
“Wherever there is a war, the highest price is paid by civilians,” the U.N. chief lamented.
In the attack on Kyiv, explosions shook the city and flames poured out of the windows of the residential high-rise and another building. The capital has been relatively unscathed in recent weeks since Moscow refocused its efforts on the Donbas.
The explosions in northwestern Kyiv’s Shevchenkivsky district came as residents have been increasingly returning to the city. Cafes and other businesses have reopened, and a growing numbers of people have been out and about, enjoying the spring weather.
It was not immediately clear how far away the attack was from Guterres.
Getting a full picture of the unfolding battle in the east has been difficult because airstrikes and artillery barrages have made it extremely dangerous for reporters to move around. Several journalists have been killed in the war, now in its third month.
Also, both Ukraine and the Moscow-backed rebels fighting in the east have introduced tight restrictions on reporting from the combat zone.
Western officials say the Kremlin’s apparent goal is to take the Donbas by encircling and crushing Ukrainian forces from the north, south and east.
But so far, Russia’s troops and their allied separatist forces appear to have made only minor gains, taking several small towns as they try to advance in relatively small groups against staunch Ukrainian resistance.
Russian military units were mauled in the abortive bid to storm Kyiv and had to regroup and refit. Some analysts say the delay in launching a full-fledged offensive may reflect a decision by Russian President Vladimir Putin to wait until his forces are ready for a decisive battle, instead of rushing in and risking another failure that could shake his rule amid worsening economic conditions at home because of Western sanctions.
Many observers suspect Putin wants to be able to claim a big victory in the east by Victory Day, on May 9, one of the proudest holidays on the Russian calendar, marking the defeat of Nazi Germany during World War II.
As Russia presses its offensive, civilians again bear the brunt.
“It’s not just scary. It’s when your stomach contracts from pain,” said Kharkiv resident Tatiana Pirogova. “When they shoot during the day, it’s still OK, but when the evening comes, I can’t describe how scary it is.”
Ukraine’s military said that Russian troops were subjecting several places in the Donbas to “intense fire” and that over the past 24 hours, Ukrainian forces had repelled six attacks in the region.
Four civilians were killed in heavy shelling of residential areas in the Luhansk region of the Donbas, according to the regional governor.
Columns of smoke could be seen rising at different points across the Donetsk region of the Donbas, and artillery and sirens were heard on and off.
Many of the Russian troops who were in Mariupol have been leaving and moving to the northwest, a senior U.S. defense official said Thursday. The official, who spoke on condition of anonymity to discuss the U.S. military assessment, didn’t have exact numbers but said a “significant number” of the roughly one dozen battalion tactical groups that were in the city were moving out.
Russian forces are making slow, incremental progress in the Donbas — gaining only several kilometers on any given day, the official said. As of Thursday, Russia had launched about 1,900 missiles into Ukraine – the vast majority fired from outside Ukraine’s borders. Most are strikes on Mariupol and the Donbas.
In Mariupol, video posted online by Ukraine’s Azov Regiment inside the steel plant showed people combing through the rubble to remove the dead and help the wounded. The regiment said the Russians hit an improvised underground hospital and its surgery room, killing an unspecified number of people. The video couldn’t be independently verified.
An estimated 100,000 people remained trapped in Mariupol.
“Deadly epidemics may break out in the city due to the lack of centralized water supply and sewers,” the city council said on the messaging app Telegram. It reported bodies decaying under the rubble and a “catastrophic” shortage of drinking water and food.
Ukraine has urged its allies to send even more military equipment to fend off the Russians. U.S. President Joe Biden asked Congress for an additional $33 billion to help Ukraine.
___
Associated Press journalists Jon Gambrell and Yuras Karmanau in Lviv, Mstyslav Chernov in Kharkiv, Yesica Fisch in Sloviansk, and AP staff around the world contributed to this report.
___
Follow AP’s coverage of the war in Ukraine: https://apnews.com/hub/russia-ukraine
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/04/29/un-head-condemns-attacks-civilians-during-ukraine-visit/ | 2022-04-29T06:05:28Z |
‘We’re with you’: First responders show support by visiting burned boy in hospital
BRIDGEPORT, Conn (WFSB) - Law enforcement and first responders showed their support for injured 6-year-old Dominick Krankall by visiting him Thursday at the Bridgeport Hospital.
Police said Dominick is currently at the hospital recovering after he was burned in what his father called a bullying incident, reported WFSB.
On Thursday, local police and fire crews formed their own parade outside Dominick’s hospital window as authorities said the 6-year-old wants to be a police officer when he grows up.
“We’re with you, we’re with you 100 percent,” said Bridgeport Mayor Joe Ganim. “I hope it’s a message that will continue to give him the strength that he needs as he goes through from here forward.”
From the middle of the hospital’s traffic circle, the lights and sirens were seen and heard all the way up in Dominick’s room.
Dominick’s father, Aaron Krankall, said his son has been bullied since the family moved to Bridgeport last year, and the problems reached a tipping point over the weekend.
Police said children were playing in the backyard of Dominick’s home and lit objects on fire. According to Dominick’s father, one of the objects was then tossed at his son’s face.
Doctors called Dominick’s bravery astounding.
“He is a tough little young man, and his spirits are actually very good,” said Dr. Magna Dias, chair of pediatrics at Bridgeport Hospital.
One of the doctors at the hospital said his recovery could take weeks to months. However, he should make a full recovery.
“It’s very important to have a positive attitude when you’re recovering,” Dias said. “If you feel like you have no hope, then it actually makes it much more difficult to recover. So, things like this [parade] are really meaningful.”
Organizers of a GoFundMe fundraising effort said Dominick suffered second and third-degree burns.
“We have people bringing us dinners to my family before I get home, so they have dinner,” Aaron Krankall said. “We’ve had relatives and aunts, people coming over, and cousins coming over and helping out. It’s just been amazing.”
Copyright 2022 WFSB via Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/04/29/were-with-you-first-responders-show-support-by-visiting-burned-boy-hospital/ | 2022-04-29T06:05:34Z |
NEW YORK, April 28, 2022 /PRNewswire/ -- Inari Medical Inc. (NASD:NARI) will replace Tri Pointe Homes Inc. (NYSE:TPH) in the S&P MidCap 400, and Tri Pointe Homes will replace US Ecology Inc. (NASD:ECOL) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, May 3. S&P 500 constituent Republic Services Inc. (NYSE: RSG) is acquiring US Ecology in a transaction expected to close on or about May 2.
Following is a summary of the changes that will take place prior to the open of trading on the effective date:
For more information about S&P Dow Jones Indices, please visit www.spdji.com
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.
FOR MORE INFORMATION:
S&P Dow Jones Indices
index_services@spglobal.com
Media Inquiries
spdji.comms@spglobal.com
raymond.mcconville@spglobal.com
View original content:
SOURCE S&P Dow Jones Indices | https://www.whsv.com/prnewswire/2022/04/28/inari-medical-set-join-sampp-midcap-400-tri-pointe-homes-join-sampp-smallcap-600/ | 2022-04-29T06:05:44Z |
SANTA CLARA, Calif., April 28, 2022 /PRNewswire/ -- Tuya Inc. ("Tuya" or the "Company") (NYSE: TUYA), a global leading IoT cloud development platform, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2021 with the Securities and Exchange Commission (the "SEC") on April 28, 2022, U. S. Eastern Time.
The annual report can be accessed on the Company's investor relations website at ir.tuya.com and on the SEC's website at www.sec.gov. The Company will also provide a hard copy of its annual report, free of charge, to its shareholders and American Depositary Share holders upon written request.
About Tuya Inc.
Tuya Inc. (NYSE: TUYA) is a global leading IoT cloud development platform with a mission to build an IoT developer ecosystem and enable everything to be smart. Tuya has pioneered a purpose-built IoT cloud development platform that delivers a full suite of offerings, including Platform-as-a-Service, or PaaS, and Software-as-a-Service, or SaaS, to businesses and developers. Through its IoT cloud development platform, Tuya has enabled developers to activate a vibrant IoT ecosystem of brands, OEMs, partners and end users to engage and communicate through a broad range of smart devices.
Investor Relations Contact
Tuya Inc.
Investor Relations
E-mail: ir@tuya.com
The Blueshirt Group
Gary Dvorchak, CFA
Phone: +1 (323) 240-5796
Email: gary@blueshirtgroup.com
View original content:
SOURCE Tuya Inc. | https://www.whsv.com/prnewswire/2022/04/28/tuya-filed-2021-annual-report-form-20-f/ | 2022-04-29T06:05:51Z |
BEIJING, April 28, 2022 /PRNewswire/ -- Waterdrop Inc. ("Waterdrop", the "Company" or "we") (NYSE: WDH), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2021 with the U.S. Securities and Exchange Commission ("SEC") on April 28, 2022. The annual report can be accessed on the Company's investor relations website at https://ir.waterdrop-inc.com as well as the SEC's website at http://www.sec.gov.
The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders upon request. Requests should be directed to the Company's IR Department at IR@shuidi-inc.com.
About Waterdrop Inc.
Waterdrop Inc. (NYSE: WDH) is a leading technology platform dedicated to insurance and healthcare service with a positive social impact. Founded in 2016, with the comprehensive coverage of Waterdrop Insurance Marketplace and Waterdrop Medical Crowdfunding, Waterdrop aims to bring insurance and healthcare service to billions through technology. For more information, please visit www.waterdrop-inc.com.
For investor inquiries, please contact:
Waterdrop Inc.
Xiaojiao Cui
IR@shuidi-inc.com
Christensen
In China
Mr. Eric Yuan
Phone: +86-1380-111-0739
E-mail: Eyuan@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
View original content:
SOURCE Waterdrop Inc. | https://www.whsv.com/prnewswire/2022/04/28/waterdrop-files-annual-report-form-20-f-fiscal-year-2021/ | 2022-04-29T06:05:59Z |
Shareholders with $50,000 losses or more are encouraged to contact the firm
BENSALEM, Pa., April 28, 2022 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against C3.ai, Inc. ("C3.ai" or the "Company") (NYSE: AI).
Class Period: December 9, 2020 – February 15, 2022
Lead Plaintiff Deadline: May 3, 2022
Investors suffering losses on their C3.ai investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) C3.ai's partnership with Baker Hughes was deteriorating; (2) C3.ai was employing a flawed accounting methodology to conceal the deterioration of its Baker Hughes partnership; (3) C3.ai faced challenges in product adoption and significant salesforce turnover; (4) the Company overstated, inter alia, the extent of its investment in technology, description of its customers, its total addressable market, the pace of its market growth, and the scale of alliances with its major business partners; and (5) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
View original content:
SOURCE Law Offices of Howard G. Smith | https://www.whsv.com/prnewswire/2022/04/29/ai-investors-have-opportunity-lead-c3ai-inc-securities-fraud-lawsuit/ | 2022-04-29T06:06:06Z |
OSLO, Norway, April 29, 2022 /PRNewswire/ -- Aker Horizons ASA (OSE: "AKH"), a developer of green industrial projects and technologies that accelerate the net zero transition, today announced its financial results for the three months ended 31 March 2022. The company's Net Asset Value ("NAV") rose to NOK 17.0 billion in the first quarter of 2022 from NOK 16.9 billion at the end of the previous quarter.
Highlights:
- Aker Horizons announced mergers with Aker Offshore Wind and Aker Clean Hydrogen, and the intention to subsequently merge Mainstream Renewable Power and Aker Offshore Wind
- Mitsui & Co. invested EUR 575 million for a 27.5 percent ownership interest in Mainstream Renewable Power
- Aker Horizons agreed to sell its remaining position in REC Silicon for NOK 1.4 billion to Hanwha Solutions
- Mainstream Renewable Power divested Aela Energía to Innergex Renewable Energy for net proceeds of USD 114 million
- Several strategic partnerships were announced, including an MoU signed between Aker Carbon Capture and Microsoft, and a joint venture between Nordkraft and Aker Horizons
- Industrial progress was made across the portfolio, with Mainstream Renewable Power's total portfolio of wind and solar projects increasing to 17.1 GW
"We are pleased to have strengthened Aker Horizons' financial position by raising NOK 10.4 billion over the past two quarters. We see increased investment opportunities amid the need to accelerate the energy transition and strengthen energy security. Aker Horizons' mission is to accelerate net zero. The transactions and partnerships announced this quarter will enhance our ability to originate and deliver mega-scale decarbonization projects and develop a global renewable energy major this decade," said Kristian Røkke, CEO of Aker Horizons.
The increase in Aker Horizons NAV was driven by a NOK 2.4 billion value increase in Mainstream reflecting the Mitsui transaction valuation, partly offset by value decreases in listed assets. Gross asset value stood at NOK 22.9 billion at 31 March 2022, up from NOK 22.8 billion in the prior quarter.
Aker Horizons' liquidity reserve, including undrawn credit facilities, stood at NOK 5.5 billion as per 31 March 2022.
Portfolio Highlights
Mainstream Renewable Power welcomed Mitsui & Co. as a long-term strategic investor, as the leading Japanese general trading and investment firm invested EUR 575 million in the form of new common shares, corresponding to a 27.5 percent equity stake, in the company. This transaction values Mainstream at approximately EUR 2.1 billion on a 100 percent basis. Also in the first quarter, Mainstream reached commercial operations date (COD) for its 591 MW combined Condor wind and solar projects in Chile. Aker Horizons announced its intention to combine Aker Offshore Wind and Mainstream, thereby creating an industrially and financially stronger renewable energy developer.
Aker Offshore Wind continued to develop its portfolio, securing Electric Business Licenses in South Korea for a total of 1.32 GW, a key step to realizing one of the world's first large-scale commercial floating wind projects. Together with Mainstream, Aker Offshore Wind also closed the transaction for an initial 50 percent stake in Progression Energy's 800 MW floating offshore wind project in Japan, an attractive early-stage development opportunity ideal for floating wind.
Aker Carbon Capture commenced work on the FEED for BP's Net Zero Teesside gas-to-power facility, with a project capacity to capture and store up to 2 million tonnes CO2 per year. The company's other portfolio projects are progressing according to plan, including the modular Just Catch CCU project at Twence's waste-to-energy plant in the Netherlands and the world's first carbon capture plant at a cement facility at Brevik, Norway. Aker Carbon Capture signed a Memorandum of Understanding with Microsoft in March 2022 to pursue joint innovation and explore opportunities to offer services in the CCUS market.
Aker Clean Hydrogen advanced the maturing of its hydrogen projects in Norway and internationally, notably completing the feasibility phase of the Rjukan hydrogen hub and proceeding with concept selection. The company entered a series of partnerships with global industrial players such as Kuehne+Nagel, Grieg Edge and Aker BP to enable green fuel offtake in the maritime sector, and recently announced a collaboration agreement with PEAK group, a Norwegian logistics company with approximately 30 ships in operation. While the company exited from the Hegra project, it will continue to pursue opportunities to develop green hydrogen and ammonia projects jointly with Statkraft.
Subsequent events
Subsequent to the first quarter of 2022, Mainstream Renewable Power announced that it has commercialized its first development in Colombia by signing a deal to supply 180 GW hours of clean energy each year in a private power purchase agreement (PPA). Mainstream will build the 100 MW Andromeda solar PV plant, located in Toluviejo, Colombia, to supply the electricity to Air-e, a Colombian energy distribution company. The PPA has a tenure of 15 years and will come into effect from 2024.
On 25 April, Aker Horizons announced the agreement to establish a joint venture (JV) with Nordkraft to develop sites for power intensive-industries in Northern Norway. The venture is part of Aker Horizons' project to establish a green industrial hub in the Narvik region. The JV aims to develop attractive sites for power-intensive industries, with roads and other common infrastructure such as water supply, fiber access, and grid infrastructure for shared use, starting with acquiring Nordkraft's rights to the sites at Kvandal, Fjellbu, Balsfjord, Korgen and Straumsmo. Aker Narvik will hold an 80 percent stake in the JV and Nordkraft the remaining 20 percent.
On 26 April, Aker Horizons, through its portfolio company Aker Clean Hydrogen, and Statkraft announced collaboration agreements to jointly explore opportunities for green hydrogen and ammonia production in India and Brazil, targeting local steel and fertilizer industries.
For more information, please see the full presentation for the first quarter of 2022 attached.
Aker Horizons' CEO Kristian Røkke, CFO Nanna Tollefsen and Mainstream's CEO Mary Quaney will present the main developments in the first quarter 2022 today at 10:00 CEST followed by a Q&A session. The presentation, which is open to all, will be held in English and will be webcast on the following link:
For further information, please contact:
Ivar Simensen, Communications
Tel: +47 46 40 23 17
ivar.simensen@akerhorizons.com
Christian Yggeseth
Investor Relations
Tel: +47 91 51 00 00
christian.yggeseth@akerhorizons.com
About Aker Horizons
Aker Horizons develops green industrial projects and technologies that accelerate the net zero transition. The company holds assets across renewable energy and carbon capture, and develops green industrial hubs that combine low-cost renewable energy with hydrogen production and downstream applications. As part of the Aker group and its 180-year industrial heritage, Aker Horizons applies industrial, technological and capital markets expertise to solve fundamental challenges to sustainable existence. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Through its portfolio companies, Aker Horizons employs over 1,200 people across 18 countries and five continents. www.akerhorizons.com
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements in Regulation EU 596/2014 and the Norwegian Securities Trading Act § 5-12. This stock exchange announcement was published by Ivar Simensen, Communications, at Aker Horizons on 29 April 2022 at CEST 07:00.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE Aker Horizons | https://www.whsv.com/prnewswire/2022/04/29/aker-horizons-asa-first-quarter-results-2022/ | 2022-04-29T06:06:13Z |
HONG KONG, April 28, 2022 /PRNewswire/ -- China Mobile Limited (the "Company") (HKEx: 941) announced today that it has filed its Annual Report on Form 20-F for the year ended December 31, 2021 (the "2021 Form 20-F") with the U.S. Securities and Exchange Commission (the "SEC").
The 2021 Form 20-F is available on the Investor Relations section of the Company's website at http://www.chinamobileltd.com and on the SEC's website at http://www.sec.gov. Shareholders may also request a hard copy of the Company's complete audited financial statements, free of charge, by contacting the Company at Investor Relations Department, China Mobile Limited, 60/F, The Center, 99 Queen's Road Central, Hong Kong (Email: ir@chinamobilehk.com; Telephone: 852-3121-8888; Fax: 852-2511-9092).
View original content:
SOURCE China Mobile Limited | https://www.whsv.com/prnewswire/2022/04/29/china-mobile-limited-2021-annual-report-form-20-f-filed-with-sec/ | 2022-04-29T06:06:20Z |
Events for communities to come together to celebrate their successes and advocate for prevention
STATE COLLEGE, Pa., April 28, 2022 /PRNewswire/ -- The Commonwealth Prevention Alliance (CPA), a private non-profit whose mission is to reimagine prevention, advocate for equity and critical resources, and share best and promising practices, is proud to announce PA Prevention Week taking place May 8 to 14, 2022. The effort — part of National Prevention Week (NPW) hosted by Substance Abuse and Mental Health Services Administration (SAMHSA) — is an annual public education platform bringing together communities and organizations to raise awareness about the importance of substance use prevention and positive mental health.
Each year around this observance, communities and organizations across the country come together to raise awareness about the importance of substance use prevention and positive mental health. Throughout the week events will encourage and equip individuals and prevention specialists to advocate in their communities for the importance of primary prevention programs, PA Youth Survey, policies, and practices to prevent substance use issues. Providers and coalitions will be provided with tools and resources to plan and implement local advocacy or community events in-person or virtually.
"PA Prevention Week aims to promote prevention year-round," says Jeff Hanley, CPA Executive Director. "Prevention happens in all of our communities, and we are asking prevention professionals, organizations, and coalitions to use this week to advocate for their programming, recognize local prevention partners and champions, and use social media to highlight their prevention successes."
To assist with community led educational events, CPA has created a PA Prevention Week "Get Started Guide," which can be accessed here:
On Monday, May 9, 2022, CPA will host the 2022 PA Prevention Week Press Conference from 11:00 a.m. – 12:00 p.m., in Harrisburg on the front steps (3rd & State Streets) of the Pennsylvania State Capitol building. Press conference speakers include:
- Jeff Hanley, Executive Director, Commonwealth Prevention Alliance
- Kristin Varner, Administrator, Dauphin County Drug and Alcohol
- Jennifer Smith, Secretary, PA Department of Drug and Alcohol Programs
- Kristina Jeanty, Health Promotion Specialist, Penn Medicine Lancaster General Health
- Mike Pennington, Executive Director, PA Commission on Crime and Delinquency
- Dr. Debora Carrera, Executive Deputy Secretary, PA Department of Education
- Damon Jones, Associate Research Professor, Penn State University - Prevention Research Center
- Maia Niedererr, Student, Adams County Collaborating for Youth (CFY) Coalition
CPA will host its 32nd annual statewide prevention conference June 21 to 24, 2022. The conference aims to support all the professionals in the field as they continue to work hard to improve the public health of our communities. Additional details including keynote speakers and in-person/virtual options for registration can be found here: https://commonwealthpreventionalliance.org/2022-conference/.
To access resources provided by CPA to aid prevention professionals in representing PA Prevention during National Prevention Week, and to learn more about PA Prevention Week, please visit: https://commonwealthpreventionalliance.org/pa-prevention-week-2022/.
CPA is a member-driven, grassroots organization whose mission is to reimagine prevention, advocate for equity and critical resources, and share best and promising practices. We are a non-profit, 501(c)3 organization. Since 1976, CPA has kept the needs and concerns of the prevention professional and the field of substance abuse prevention as its key focus, and today it continues to be the foremost voice for prevention in Pennsylvania.
View original content to download multimedia:
SOURCE Commonwealth Prevention Alliance | https://www.whsv.com/prnewswire/2022/04/29/commonwealth-prevention-alliance-celebrates-prevention-week-2022/ | 2022-04-29T06:06:27Z |
SEOUL, South Korea, April 28, 2022 /PRNewswire/ -- The K-12 Edtech startup 'Gguge' that has been heralded as the 'Outschool' of Asia, has secured $10 million in Series A funding. Participants of this round include Korea Investment Partners (KIP), Murex Partners, and PKSHA Capital from Japan.
For the past couple of years, there has been a significant shift in the way we view the workplace and classroom. Remote learning, in particular, has experienced a spike in interest and Edtech startups such as Gguge have been quick to realize its potential and jumped on the USD 254.80 billion global edtech market to capitalize their chance on its ever-growing possibility.
The Korean startup, Gguge, is an education platform that offers online classes for students between the ages of 3 and 18. The platform encourages students to explore topics based on their interests by offering a selection of more than 5,000 online classes taught live via Zoom. Independent instructors engage the students with active learning methods that range from reading newspapers and solving puzzles, to incorporating Minecraft and Pokémon games into the classes.
Launched by its parent company, Glorang Inc., in 2020, Gguge claims to now have over 100,000 users in Korea and is rapidly growing with a new user acquisition rate averaging more than 40% each month. As a strong contender in the substantial education market like Asia, the platform seeks to differentiate itself from 'Outschool' by providing its services in local languages. The company is expected to enter the Japanese and Malaysian markets by Q4 2022 and is planning on expanding to Taiwan, Thailand, and Vietnam in the following years.
Taeil Hwang, Founder and CEO of Ggguge said, "The education market in the English-speaking and North American regions is undoubtedly very large. However, we at Gguge and Glorang understand that the local D2C education market of each country in Asia can be just as substantial." And added, "As a team that understands both the local culture and strategies in Asia, we are confident that our platform will have a strong standing in Asia's ever-growing D2C education market,"
Taeil Hwang, Founder and CEO of Gguge (Glorang Inc.), was selected in 2021 as one of Forbes' 30 Under 30 Leaders in Consumer Technology in Asia.
For more information, visit Gguge's website at www.gguge.com/
About Gguge
Launched by its parent company, Glorang Inc., in 2020, Gguge optimizes the learning effect of virtual classes based on its own IP licensing & algorithms. Gguge actively recruits the best teachers in each field for children's experiences and provides rich education from a one-time experience to sustainable classes with various types of classes tailored to age-specific levels. We look to expand our service to global markets such as the U.S. and Japan.
For more information, visit www.gguge.com/
View original content to download multimedia:
SOURCE Gguge | https://www.whsv.com/prnewswire/2022/04/29/gguge-k-12-edtech-startup-known-outschool-asia-lands-10m-series/ | 2022-04-29T06:06:33Z |
SHENZHEN, China, April 28, 2022 /PRNewswire/ -- In order to achieve Huntkey's low-carbon goals and attract more companies to promote the development of the power supply industry's low-carbon technology, Huntkey and its partners jointly established the Huntkey Low-Carbon Alliance in April 2022. The alliance aims to organize partners to reject high-carbon products, use low-carbon products, and form good living habits so that all members have the opportunity to contribute to green life and advocate such goodwill.
On April 19, 2022, Maoqi Liu, CEO of Huntkey Group, delivered a speech as the first president of the Huntkey Low-Carbon Alliance. He mentioned that on May 28, 2010, Wenhua Luo, Chairman of Huntkey Group, put forward the promise of the Huntkey Low-Carbon Declaration. After nearly 12 years, on November 13, 2021, the implementation rules of the Paris Agreement were unanimously adopted by all member states in the UK. Huntkey's promotion of "develop low-carbon technology and live an environmentally friendly life" is so forward-looking, but there is a long way to go.
About Huntkey Low-Carbon Alliance
1. Membership
Members can be companies or individuals. All enterprises and group entities of various economic types in the manufacturing, design, production, branding, marketing agencies and other industries that conform to the low-carbon concept have the opportunity to join. Individuals who advocate low-carbon careers, or engage in low-carbon-related work, or who have made outstanding contributions can also join. At present, 32 companies have joined the alliance.
2. Member rights and obligations
(1) Rights
Members can obtain the right to sell designated low-carbon products. Huntkey provides support for promotion resources, including press releases, video preparations, and store advertisements. Huntkey has set up a special fund for low-carbon environmental protection, which provides financial support for member activities, with a subsidy ratio of 50%-80%.
(2) Obligations
Members are responsible for the promotion and sales of low-carbon products, actively publicize Huntkey's low-carbon business, provide relevant information, statistical data and related materials, and let more people join the low-carbon business.
Huntkey Will Continue Its Low-Carbon Strategy into the Next Decade
For 12 years, Huntkey's emphasis on low-carbon technology is reflected in many aspects. In terms of R&D, some products have passed 61 professional inspections by China Quality Certification Centre, so their quality and performance are guaranteed. In manufacturing, Huntkey adopts high-end technology to reduce rework and defect rate, and reduce waste generation. Huntkey uses recyclable materials to recycle resources. Products comply with EU environmental protection standards, raw materials and finished products comply with RoHS compliant. Never use lead, mercury and other substances that are harmful to the human body and the environment to reduce environmental pollution. Moreover, Huntkey chooses simple and environmentally friendly packaging.
The spirit of the Huntkey Low-Carbon Alliance is low-carbon technology, minimalist life, energy-saving and emission reduction, and sustainable development. With little changes in lives, people can make a great impact on the world. Huntkey will work with the alliance members to actively implement and promote the low-carbon technology. Huntkey will thrive to become a respected enterprise and continue its low-carbon strategy into the next decade.
About Huntkey
Founded in 1995, Huntkey is a leading provider of PC power supplies, power strips, surge protectors, laptop adapters, phone chargers, monitors and air purifiers. Huntkey is a member of Power Sources Manufacturers Association (PSMA) and China Power Supply Society (CPSS). Covering approximately 1,000,000 square meters added up from three industrial parks, Huntkey is one of the most famous brands and largest companies in mainland China. It is headquartered in Shenzhen. By 2022, Huntkey has been practicing low-carbon economy for more than ten years. Practicing a low-carbon lifestyle with Huntkey.
Website: http://www.huntkey.com
Facebook: https://www.facebook.com/HuntkeyGlobal
Instagram: https://www.instagram.com/huntkey_global
Contact
Media Contact: Ms.Lava Huang, E-mail: marketing@huntkey.com
Business Contact: Ms.Ferris Liao, E-mail: huntkey@huntkey.com
View original content:
SOURCE Huntkey | https://www.whsv.com/prnewswire/2022/04/29/huntkey-established-low-carbon-alliance-develop-low-carbon-technology/ | 2022-04-29T06:06:40Z |
HAMILTON, Bermuda, April 29, 2022 /PRNewswire/ -- Seadrill Limited ("Seadrill or the Company") announces that it has filed its annual report on Form 20-F for the year ended December 31, 2021 with the Securities and Exchange Commission in the U.S. The report can be accessed on the website of the U.S. Securities and Exchange Commission, www.sec.gov and at www.seadrill.com. Shareholders may also request a hard copy of the Annual Report, which includes the Company's complete 2021 audited financial statements, free of charge, by sending an email to: seadrill@hawthornadvisors.com.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE Seadrill Limited | https://www.whsv.com/prnewswire/2022/04/29/sdrl-filing-2021-annual-report-form-20-f/ | 2022-04-29T06:06:47Z |
NEW YORK, April 28, 2022 /PRNewswire/ --
If you own shares in any of the companies listed above and
would like to discuss our investigations or have any questions concerning
this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Sierra Oncology, Inc. (NASDAQ: SRRA)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Sierra Oncology, Inc. (NASDAQ: SRRA), in connection with the proposed acquisition of SRRA by GlaxoSmithKline plc. Under the terms of the merger agreement, SRRA shareholders will receive $55.00 in cash for each share of SRRA common stock owned. If you own SRRA shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/srra
Huttig Building Products, Inc. (NASDAQ: HBP)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Huttig Building Products, Inc. (NASDAQ: HBP), in connection with the proposed tender offer for HBP by Woodgrain Inc. Under the terms of the tender offer, HBP shareholders will receive $10.70 in cash for each share of HBP common stock owned. If you own HBP shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/hbp
Emclaire Financial Corp (NASDAQ: EMCF)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Emclaire Financial Corp (NASDAQ: EMCF) in connection with its proposed merger with Farmers National Banc Corp. ("Farmers"). Under the terms of the merger agreement, each shareholder of EMCF may elect to receive either $40.00 per share in cash or 2.15 shares of Farmers' common stock, subject to an overall limitation of 70% shares and 30% cash. If you own EMCF shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/emcf
Vidler Water Resources, Inc. (NASDAQ: VWTR)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Vidler Water Resources, Inc. (NASDAQ: VWTR), in connection with the proposed acquisition of VWTR by D.R. Horton, Inc. via a tender offer. Under the terms of the merger agreement, the VWTR shareholders will receive $15.75 in cash for each share of VWTR common stock owned. If you own VWTR shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/vwtr
View original content to download multimedia:
SOURCE Weiss Law | https://www.whsv.com/prnewswire/2022/04/29/shareholder-alert-weiss-law-reminds-srra-hbp-emcf-vwtr-shareholders-about-its-ongoing-investigations/ | 2022-04-29T06:06:58Z |
SEOUL, South Korea, April 28, 2022 /PRNewswire/ -- On April 28, 2022, SK Telecom Co., Ltd. filed its Annual Report on Form 20-F for the year ended December 31, 2021 with the U.S. Securities and Exchange Commission. The 2021 Annual Report on Form 20-F can be viewed on www.sktelecom.com, as well as from the website of the U.S. Securities and Exchange Commission at www.sec.gov. Printed copies of SK Telecom's complete audited financial statements (including footnotes) as of and for the year ended December 31, 2021 can be requested, free of charge, by written request to skt.ir@sk.com.
View original content:
SOURCE SK Telecom Co., Ltd | https://www.whsv.com/prnewswire/2022/04/29/sk-telecom-co-ltd-files-its-annual-report-form-20-f/ | 2022-04-29T06:07:09Z |
LONDON, April 29, 2022 /PRNewswire/ --
On 27 April 2022, the Board of Directors of Tetragon declared a dividend of U.S.$0.11 (11.00 cents) per share in respect of the first quarter of 2022. The ex-dividend date is 2 May 2022. The record date is 3 May 2022. Payment of the dividend will take place from 26 May 2022.
Tetragon's website (www.tetragoninv.com) includes information on Tetragon's Optional Stock Dividend Plan for those shareholders electing to receive dividends in the form of Tetragon shares. Shareholders may elect to receive dividends in the form of Tetragon shares by making a dividend share election up to 13 May 2022. If no election is made, the dividend will be paid in cash from 26 May 2022.
Cash dividends may be received in Sterling by those shareholders making a dividend currency election up to 13 May 2022. If no election is made, the dividend will be paid in U.S. dollars from 26 May 2022.
Tetragon is a closed-ended investment company that invests in a broad range of assets, including public and private equities and credit (including distressed securities and structured credit), convertible bonds, real estate, venture capital, infrastructure, bank loans and TFG Asset Management, a diversified alternative asset management business. Where appropriate, through TFG Asset Management, Tetragon seeks to own all, or a portion, of asset management companies with which it invests in order to enhance the returns achieved on its capital. Tetragon's investment objective is to generate distributable income and capital appreciation. It aims to provide stable returns to investors across various credit, equity, interest rate, inflation and real estate cycles. The company's non-voting shares are traded on Euronext in Amsterdam, a regulated market of Euronext Amsterdam N.V., and on the Specialist Fund Segment of the main market of the London Stock Exchange. For more information please visit the company's website at www.tetragoninv.com.
This release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (2014/596/EU), or EU MAR, and of the UK version of EU MAR as it forms part of UK law by virtue of the European Union (Withdrawal) Act (as amended).
This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of Tetragon have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States or to U.S. persons unless they are registered under applicable law or exempt from registration. Tetragon does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, Tetragon has not been and will not be registered under the U.S. Investment Company Act of 1940 and investors will not be entitled to the benefits of such Act. Tetragon is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Dutch Financial Markets Supervision Act as an alternative investment fund from a designated state.
View original content to download multimedia:
SOURCE Tetragon Financial Group Limited | https://www.whsv.com/prnewswire/2022/04/29/tetragon-financial-group-limited-announcement-dividend/ | 2022-04-29T06:07:17Z |
LONDON, April 29, 2022 /PRNewswire/ -- Tetragon has released its Monthly Factsheet for March 2022.
- Net Asset Value: $2,797m
- Fully Diluted NAV Per Share: $28.88
- Share Price (TFG NA): $9.06
- Monthly NAV per share total return: 0.0%
- Monthly Return on Equity: 0.6%
- Most recent quarterly dividend: $0.11
- Dividend yield: 4.6%
Please refer to important disclosures on page 5 of the Monthly Factsheet.
Please click below to access the Monthly Factsheet.
Tetragon is a closed-ended investment company that invests in a broad range of assets, including public and private equities and credit (including distressed securities and structured credit), convertible bonds, real estate, venture capital, infrastructure, bank loans and TFG Asset Management, a diversified alternative asset management business. Where appropriate, through TFG Asset Management, Tetragon seeks to own all, or a portion, of asset management companies with which it invests in order to enhance the returns achieved on its capital. Tetragon's investment objective is to generate distributable income and capital appreciation. It aims to provide stable returns to investors across various credit, equity, interest rate, inflation and real estate cycles. The company's non-voting shares are traded on Euronext in Amsterdam, a regulated market of Euronext Amsterdam N.V., and on the Specialist Fund Segment of the main market of the London Stock Exchange. For more information please visit the company's website at www.tetragoninv.com.
This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of Tetragon have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States or to U.S. persons unless they are registered under applicable law or exempt from registration. Tetragon does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, Tetragon has not been and will not be registered under the U.S. Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act. Tetragon is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Financial Markets Supervision Act as a collective investment scheme from a designated country.
View original content:
SOURCE Tetragon Financial Group Limited | https://www.whsv.com/prnewswire/2022/04/29/tetragon-financial-group-limited-march-2022-monthly-factsheet/ | 2022-04-29T06:07:23Z |
CALGARY, AB, April 28, 2022 /PRNewswire/ - TransAlta Corporation (TSX: TA) (NYSE: TAC) ("TransAlta" or the "Company") held its Annual and Special Meeting of Shareholders ("the Meeting") on April 28, 2022. The total number of common shares represented by shareholders at the Meeting and by proxy was 189,079,207, representing 69.60 per cent of the Company's outstanding common shares.
The following resolutions were considered by shareholders:
The twelve director nominees proposed by management were elected. The votes by ballot were received as follows:
The appointment of Ernst & Young LLP to serve as the auditors for 2022 was approved. The votes by ballot were received as follows:
The advisory vote on the Company's approach to executive compensation or say-on-pay was approved. The votes by ballot were received as follows:
The resolution approving the Corporation's Amended and Restated Shareholder Rights Plan was approved. The votes by ballot were received as follows:
TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with clean, affordable, energy-efficient and reliable power. Today, TransAlta is one of Canada's largest producers of wind power and Alberta's largest producer of hydroelectric power. For over 100 years, TransAlta has been a responsible operator and a proud community-member where its employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development.
For more information about TransAlta, visit its web site at transalta.com.
View original content:
SOURCE TransAlta Corporation | https://www.whsv.com/prnewswire/2022/04/29/transalta-corporation-announces-results-annual-special-meeting-shareholders-election-all-directors/ | 2022-04-29T06:07:29Z |
SUZHOU, China, April 28, 2022 /PRNewswire/ -- Transcenta Holding Limited ("Transcenta") (HKEX: 06628), a clinical stage biopharmaceutical company with fully-integrated capabilities in discovery, research, development and manufacturing of antibody-based therapeutics, announces that the abstracts of TST001 and MSB0254 have been accepted by the 2022 annual meeting of American Society of Clinical Oncology ("2022 ASCO Annual Meeting"). The abstracts are named "A Phase I Study of TST001, a High Affinity Humanized Anti-CLDN18.2 Monoclonal Antibody, in Combination with Capecitabine and Oxaliplatin (CAPOX) as a First Line Treatment of Advanced G/GEJ Cancer" and "A Phase I Study to Evaluate the Safety, Tolerability and Pharmacokinetics of MSB0254 in Chinese Solid Tumor Patients" respectively.
The ASCO Annual Meeting showcases the most cutting-edge research in clinical oncology and state-of-the-art advanced cancer therapies and is the world's most influential and prominent scientific gathering of the clinical oncology community. This year's ASCO Annual Meeting will take place both online and in-person (McCormick Place; Chicago, IL) on June 3–7, 2022.
TST001 (Claudin18.2)
Abstract Number: 4062
Session Date and Time: June 4, 2022, 8:00 AM-11:00 AM CDT
Title: A Phase I Study of TST001, a High Affinity Humanized Anti-CLDN18.2 Monoclonal Antibody, in Combination with Capecitabine and Oxaliplatin (CAPOX) as a First Line Treatment of Advanced G/GEJ Cancer
First author: Professor Jifang Gong, Peking University Cancer Hospital and Research Institute
Presentation Format: Poster
MSB0254 (VEGFR2)
Abstract Number: 3023
Session Date and Time: June 5, 2022, 8:00 AM-11:00 AM CDT
Title: A Phase I Study to Evaluate the Safety, Tolerability and Pharmacokinetics of MSB0254 in Chinese Solid Tumor Patients
First author: Professor Tianshu Liu, Zhongshan Hospital, Fudan University
Presentation Format: Poster
About TST001
TST001 is a high affinity humanized anti-Claudin18.2 monoclonal antibody with enhanced antibody-dependent cellular cytotoxicity (ADCC) and complement-dependent cytotoxicity (CDC) activities and potent anti-tumor activities in tumor xenograft models. TST001 is the second Claudin18.2 targeting antibody therapeutic candidate being developed globally. TST001 is generated using Transcenta's Immune Tolerance Breaking Technology (IMTB) platform. TST001 kills Claudin18.2 expressing tumor cells by mechanisms of antibody-dependent cellular cytotoxicity (ADCC) and complement-dependent cytotoxicity (CDC). Leveraging advanced bioprocessing technology, the fucose content of TST001 was significantly reduced during the production, which further enhanced NK cells mediated ADCC activity of TST001. Clinical trials for TST001 are ongoing in China and US (NCT04396821, NCT04495296/CTR20201281). TST001 was granted Orphan Drug Designation in the US by FDA for the treatment of patients with gastric cancer or gastroesophageal junction (GC/GEJ).
About MSB0254
MSB0254 is a high affinity humanized anti-VEGFR-2 mAb, with an anti-tumor mechanism of action by inhibiting tumor angiogenesis. MSB0254 has been generated using Transcenta's in-house antibody discovery platform. VEGFR-2 is overexpressed in neovascular tumor endothelial cells in many tumors in comparison to normal endothelial cells. Vascular permeability, survival and migration of the vascular endothelial cells are controlled by the VEGFR-2 pathway. VEGFR-2 inhibitors has been shown to be able to inhibit tumor-induced angiogenesis and effectively block tumor growth, and thus may have a potential therapeutic role in multiple tumor types.
About Transcenta Holding Limited
Transcenta (HKEX: 06628) is a clinical stage biopharmaceutical company with fully integrated capabilities in antibody-based biotherapeutics discovery, research, development and manufacturing.
Transcenta has established global footprint, with Headquarters and Discovery, Clinical and Translational Research Center in Suzhou, Process and Product Development Center and Manufacturing Facility in Hangzhou, and Clinical Development Centers in Beijing, Shanghai and Guangzhou in China and in Princeton, US, and External Partnering Center in Boston and Los Angeles, US. Transcenta has also initiated the construction of the Group Headquarters and the second high-end biopharmaceutical facility with ICB as its core technology in Suzhou Industrial Park. Transcenta is developing ten therapeutic antibody molecules for oncology and selected non-oncology indications including bone and kidney disorders.
For more information, please visit www.transcenta.com and https://www.linkedin.com/company/transcenta.
Forward-Looking Statements
This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Transcenta, are intended to identify certain of such forward-looking statements. Transcenta does not intend to update these forward-looking statements regularly.
These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Transcenta with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Transcenta's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Transcenta's competitive environment and political, economic, legal and social conditions.
Transcenta, the Directors and the employees of Transcenta assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialize or turn out to be incorrect.
Contacts
Public Relations: pr@transcenta.com
Investor Relations: ir@transcenta.com
Business Development: bd@transcenta.com
View original content:
SOURCE Transcenta Holding Limited | https://www.whsv.com/prnewswire/2022/04/29/transcenta-present-clinical-trial-data-tst001-msb0254-2022-asco-annual-meeting/ | 2022-04-29T06:07:36Z |
SAN DIEGO , April 28, 2022 /PRNewswire/ -- TuSimple (Nasdaq: TSP), a global autonomous driving technology company, announced changes to the composition of the Board of Directors. On April 23, 2022, the TuSimple Board of Directors appointed Reed Werner to fill a vacancy on the Board, and announced that Mo Chen, co-founder and Board of Directors member, has decided not to stand for re-election. Chen will fulfill his tenure on the Board through the annual meeting. Additionally, TuSimple announced that current Director Brad Buss has been appointed Lead Independent Director of the Board.
Concurrently with Werner's appointment, the TuSimple Board established a Government Security Committee, in accordance with the agreement between TuSimple and The Committee on Foreign Investment in the United States National Security Agreement ("NSA") which commenced in February 2022. Presently, Werner serves as the Security Director under the NSA and has been appointed Chair of the TuSimple Government Security Committee. Furthermore, Werner has been appointed to the Company's Audit Committee. The Board has determined that Mr. Werner meets the requirements for independence under the applicable listing standards of The Nasdaq Stock Market and the Securities Exchange Act of 1934, as amended.
TuSimple values Mo Chen's significant contributions to the company, and thanks him for his dutiful service on the Board of Directors since the company's inception in 2015. The Company intends to pursue adding additional independent members to the Board as part of its overall corporate governance focus. Chen remains a significant shareholder and an enthusiastic supporter of the company, Co-Founder and CEO, Xiaodi Hou, the Board of Directors and management team.
"The changes announced today reflect a thoughtful, and strategic process by the TuSimple Board," said Xiaodi Hou, Co-Founder and CEO, TuSimple. "I thank Mo Chen for his successful tenure on the Board as he was instrumental in setting the roadmap for TuSimple's ongoing success, and we welcome Reed Werner who brings a wealth of experience, leadership, and Governmental oversight that will be important as the company focuses on continuing to grow its business. Elevating Brad to Lead Independent Director is part of our ongoing commitment to enhancing corporate governance and I look forward to partnering with him."
About TuSimple
TuSimple is a global autonomous driving technology company headquartered in San Diego, California, with operations in Arizona, Texas, Europe, and China. Founded in 2015, TuSimple is developing a commercial-ready, fully autonomous (SAE Level 4) driving solution for long-haul heavy-duty trucks. TuSimple aims to transform the $4 trillion global truck freight industry through the company's leading AI technology, which makes it possible for trucks to drive safely autonomously, operate nearly continuously, and reduce fuel consumption by 10%+ relative to manually driven trucks. Global achievements include the world's first fully autonomous, 'driver-out' semi-truck run on open public roads, and development of the world's first Autonomous Freight Network (AFN). Visit us at www.tusimple.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements as to future results of operations and financial position, planned products and services, business strategy and plans, launch dates of products or services, expected safety benefits of our autonomous semi-trucks, objectives of management for future operations of TuSimple Holdings Inc. and its subsidiaries (the "Company", "we", "our" and "us"), market size and growth opportunities, competitive position and technological and market trends and corporate governance changes, are forward-looking statements. These forward-looking statements generally are identified by the words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast", "future", "intend," "may," "might", "opportunity", "plan," "possible", "potential," "predict," "project," "should," "strategy", "strive", "target," "will," or "would", the negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many important factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to, those related to autonomous driving being an emerging technology, the development of the Company's technologies and products, the Company's limited operating history in a new market, the regulations governing autonomous vehicles, the Company's dependence on its senior management team, reliance on third-party suppliers, potential product liability or warranty claims and the protection of the Company's intellectual property. Moreover, the Company operates in a competitive and rapidly changing environment, and new risks may emerge from time to time. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption "Risk Factors" in our most recent annual report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC") on February 24, 2022, and TuSimple's other filings with the SEC. These SEC filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations.
View original content to download multimedia:
SOURCE TuSimple Holdings, Inc. | https://www.whsv.com/prnewswire/2022/04/29/tusimple-announces-board-changes/ | 2022-04-29T06:07:42Z |
NEWARK, N.J., April 28, 2022 /PRNewswire/ -- It was revealed today that music industry veteran Vincent Searcy has joined Sherrese Clarke Soares' global alternative asset management company HarbourView Equity Partners (HarbourView) as a strategic advisor.
Searcy will provide strategic advice and recommendations regarding acquisitions of or any other investment in music IP and related rights. Searcy's diligence and respected connections greatly contribute to HarbourView's industrialized and systematized sourcing effort.
"Searcy is a highly skilled and savvy executive whose achievements, reputation and track record speaks for itself," said Sherrese Clarke Soares. "Having known Searcy for quite some time, I've always been impressed with his eye for talent and how he navigates the complexities of the music industry, figuring out creative ways to enhance the business interests of the artists who work with him. We're very happy to welcome him to the HarbourView family."
Said Searcy, "I am incredibly grateful to be a part of the HarbourView team! I had the pleasure of meeting Sherrese when she first began working in the catalog acquisition and brokering space. She is a dedicated business leader and expert at what she does. I am honored to be included in all of the history that Harbourview is and will be making. It is important that I always put forth my best efforts to attract the best results. The best advice I have received is, "If you buy into the system, trust the process, be a great operator, you will win big!"
Vincent Searcy is a highly respected entertainment executive and entrepreneur with an intense passion for music and entertainment, and a natural gift for identifying talent. Based in Atlanta, Searcy founded and continues to run Crown World Entertainment (CWE), a full-service entertainment company specializing in music, TV & film, catalog acquisition, and publishing. Searcy's diligence and respected connections go a long way when generating opportunities for him, his team and its impressive roster of talent. From film and television, to music, publishing and more, Searcy's interests are as diverse as his artists' talents and abilities. Since its conception, Searcy has discovered and introduced to the masses music industry heavyweight songwriter / producer Rico Love, and R&B sensation Jacob Latimore (RCA Records), among others.
HarbourView Equity Partners is focused on investment opportunities in the media and entertainment space. Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, "Apollo") is a strategic relationship and Apollo clients and funds serve as lead investors in HarbourView
HarbourView combines decades of industry experience and investing expertise, supported by the scale of a global platform like Apollo's, to present a fresh take on investment management, built on intellectual curiosity. Clarke Soares is a seasoned investor and tenured player in the entertainment and media industries, with 20+ years of relevant industry experience with stops at CIT, Morgan Stanley and Tempo Music.
Launched just seven months ago, the company strives to be the industry standard for excellence and integrity in investing in assets and companies driven by premier intellectual property, boasting a very talented team with investment and financial services expertise in and around esoteric asset classes, including in music, film, TV, and sports.
HarbourView is a global investment firm focused on niche markets and esoteric investments opportunities that build enduring value and deliver superior returns. The company is headquartered in Newark, NJ.
HarbourView Home Page
Twitter
LinkedIn
Instagram
Facebook
View original content to download multimedia:
SOURCE HarbourView Equity Partners | https://www.whsv.com/prnewswire/2022/04/29/vincent-searcy-joins-harbourview-equity-partners-an-advisor/ | 2022-04-29T06:07:49Z |
NEW YORK and GENEVA, Switzerland, April 29, 2022 /PRNewswire/ -- Today Wella Company, a global leader in the $100 billion beauty industry with a top professional and retail hair, nail and beauty tech portfolio comprised of iconic brands including Wella Professionals, O·P·I, ghd, Nioxin, Sebastian Professional and Clairol, announced that it has reached a definitive agreement to acquire Briogeo, one of the fastest growing hair care brands in the world and one of the largest independent Black-owned brands in the United States.
"Acquiring Briogeo marks Wella Company's first portfolio expansion as an independent entity. Briogeo's high-growth, eco-ethical and natural hair care products complement our existing hair portfolio and sustainable offerings and will fuel our growth momentum in the hair category, which is now the fastest growing segment in beauty," said Annie Young-Scrivner, Chief Executive Officer of Wella Company. "I'm proud of the growth our company has achieved so far in just 17 months – and in Briogeo we have found a truly special and complementary partner. Briogeo has been at the forefront of the clean and natural hair revolution since the company started in 2013, and its rise has been nothing short of remarkable. Together we'll extend our sustainable product offerings even more, expand our premium retail footprint and drive both commercial and social impact to new levels," said Young-Scrivner.
Under the leadership of Founder and Chief Executive Officer, Nancy Twine, Briogeo has revolutionized clean and natural hair care, offering effective products and solutions for every hair type, hair texture, hair need, ethnicity, background and person. Briogeo has grown quickly since its inception and is an award-winning company, having earned the Allure Best of Beauty Award every year since 2018. Twine is recognized as one of the foremost entrepreneurs of a beauty start-up in the last decade and has been awarded Entrepreneur's 100 Women of Impact in 2021, the Goldman Sachs Builders + Innovators Award in 2020, and the Cosmetic Executive Women (CEW) Female Founder Award in 2019.
Wella Company intends to support Briogeo and its strategy to excel at the forefront of sustainable beauty. Briogeo aligns with Wella Company's deep commitment to building a company with Diversity, Equity, and Inclusion (DEI) and Environmental, Social and Governance (ESG) embedded into its core. The addition of the Briogeo portfolio of prestige hair care complements Wella Company's ambitions to deliver more diverse products for all hair types, while expanding clean and green products across its portfolio offerings.
"The strength of Wella Company's Research & Development, digital marketing and global operations, and their ability to reach 91 million hair and nail professionals and followers they serve and support will take our Briogeo brand to the next level," said Nancy Twine, CEO of Briogeo. "This is a significant strategic partnership for both sides, and one that is compatible in ambition, philosophy and culture. In Wella Company we have a committed partner to help our business and our employees reach the next level of growth. We're excited to accelerate our expansion and innovation, globally delighting more people in more geographies and through broader delivery channels."
Wella Company's history of female leadership is unique, having several entrepreneurial women founders including O·P·I co-founder Suzi Weiss-Fischmann, Nioxin's Eva Graham, and Sebastian Professional co-founder Geri Cusenza. Annie Young-Scrivner and Briogeo's Nancy Twine form a duo of minority women leading a high-growth beauty company -- a pairing that not only reinforces diversity and inclusivity but opens a wide aperture for minority women in the industry.
Wella Company returned to independent operating status on December 1, 2020 after affiliates of global investment firm KKR acquired a majority-equity stake in the company. Wella Company remains on an accelerated growth journey to become a leader in the hair, nail and beauty tech category across all delivery channels – professional, retail, ecommerce. Over the course of Wella Company's short tenure, the company has accelerated growth, growing double digit vs 2019 levels. The business is gaining momentum in every geography in which it operates (more than 100 countries) and across all regions: Americas, APAC, EMEA and Brazil.
About Wella Company
Wella Company is one of the world's leading beauty companies, comprised of a family of iconic brands including Wella Professionals, ghd, O·P·I, Nioxin, Sebastian Professional and Clairol. At Wella Company, we are innovators who seek to inspire consumers and beauty professionals through our brands to look, feel, and be their true selves. We are committed to building the best beauty company in the industry where our 6,000+ employees across more than 100 countries can bring their best selves to work. Guided by our company values and led by purpose to deliver positive impact on people through our products and towards our planet and society, we deliver sustainable growth to all stakeholders.
For more information on Wella Company, visit www.wellacompany.com and follow us on LinkedIn, Instagram and Facebook.
About Briogeo
Briogeo has revolutionized clean and natural hair care, offering effective products and solutions for every hair type, hair texture, hair need, ethnicity, background, and person. All Briogeo products are formulated 6-free ™ (NO harsh sulfates, silicones, parabens, phthalates, artificial dyes, and DEA) and are naturally derived with the brand's proprietary NOVA Complex®, a blend of natural oils, vitamins, and antioxidants. Launched in 2013 by entrepreneur Nancy Twine, Briogeo has become one of the fastest-growing hair care brands in the world and one of the largest, independent Black-owned brands in the US. Briogeo continues to experience momentous year-over-year sales growth with a brand mission to inspire, educate, celebrate diversity, and empower every person's healthy hair journey.
Advisory Support
Briogeo was advised by Financo | Raymond James.
Wella Company Contact: Hilary Crnkovich
Chief Communications & Sustainability Officer
Phone number: + 646-217-1700
Email: hilary.crnkovich@wella.com
View original content to download multimedia:
SOURCE The Wella Company | https://www.whsv.com/prnewswire/2022/04/29/wella-company-amplifies-growth-with-acquisition-briogeo-fast-growing-independent-hair-care-company-focused-eco-ethical-natural-hair-care-products/ | 2022-04-29T06:07:57Z |
Feds seek nearly $3M from Manafort over undisclosed accounts
WASHINGTON (AP) — The Justice Department filed a lawsuit Thursday against Donald Trump’s former campaign chairman Paul Manafort — who was convicted in special counsel Robert Mueller’s Russia investigation and later pardoned — seeking to recover nearly $3 million from undeclared foreign bank accounts.
The lawsuit, filed in federal court in West Palm Beach, asks a judge to force Manafort to pay fines, penalties and interest after prosecutors say he failed to disclose more than 20 offshore bank accounts he ordered opened in the United Kingdom, Cyprus, St. Vincent and the Grenadines.
The Justice Department alleges Manafort failed to file federal tax documents detailing the accounts and failed to disclose the money on his income tax returns. The lawsuit charges the money was related to consulting work in Ukraine with his deputy Rick Gates and an associate, Konstantin Kilimnik, who were both key figures in Mueller’s investigation.
In court documents, the Justice Department alleges Manafort “knowingly, intentionally, and willfully filed and conspired to file false tax returns from 2006-2015 in that he said he did not have reportable foreign bank accounts when he knew that he did.” The suit says the Treasury Department notified Manafort of the fines and assessment in July 2020.
Manafort’s lawyer, Jeffrey Neiman, argues the suit is being filed “for simply failing to file a tax form.”
“Mr. Manafort was aware the Government was going to file the suit because he has tried for months to resolve this civil matter,” Neiman said in a statement. “Nonetheless, the Government insisted on filing this suit simply to embarrass Mr. Manafort.”
Manafort, who led Trump’s campaign during a pivotal period in 2016 before being ousted over his ties to Ukraine, was among the first people charged as part of Mueller’s investigation into ties between the Trump campaign and Russia. He was later sentenced to more than seven years in prison for financial crimes related to his political consulting work in Ukraine. Trump pardoned him in December 2020.
Though the charges against Manafort did not concern the central crux of Mueller’s mandate — whether the Trump campaign and Russia colluded to tip the election — he was nonetheless a pivotal figure in the probe that shadowed Trump’s presidency for years.
His close relationship to Kilimnik, whom U.S. officials have linked to Russian intelligence, and with whom he shared internal Trump campaign polling data, attracted particular scrutiny during the investigation, though Mueller never charged Manafort or any other Trump associate with conspiring with Russia.
Despite the pardon, the government believes Manafort still owes the money for the alleged financial misconduct.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/04/29/feds-seek-nearly-3m-manafort-over-undisclosed-accounts/ | 2022-04-29T06:34:34Z |
Google adds ways to keep personal info private in searches
(AP) - Google has expanded options for keeping personal information private from online searches.
The company said Friday it will let people request that more types of content such as personal contact information like phone numbers, email and physical addresses be removed from search results.
The new policy also allows the removal of other information that may pose a risk for identity theft, such as confidential log-in credentials.
The company said in a statement that open access to information is vital, “but so is empowering people with the tools they need to protect themselves and keep their sensitive, personally identifiable information private.”
“Privacy and online safety go hand in hand. And when you’re using the internet, it’s important to have control over how your sensitive, personally identifiable information can be found,” it said.
Google Search earlier had permitted people to request that highly personal content that could cause direct harm be removed. That includes information removed due to doxxing and personal details like bank account or credit card numbers that could be used for fraud.
But information increasing pops up in unexpected places and is used in new ways, so policies need to evolve, the company said.
Having personal contact information openly available online also can pose a threat and Google said it had received requests for the option to remove that content, too.
It said that when it receives such requests it will study all the content on the web page to avoid limiting availability of useful information or of content on the public record on government or other official websites.
“It’s important to remember that removing content from Google Search won’t remove it from the internet, which is why you may wish to contact the hosting site directly, if you’re comfortable doing so,” it said.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/04/29/google-adds-ways-keep-personal-info-private-searches/ | 2022-04-29T08:05:49Z |
Hawaiian renter sues after cameras show landlord using drugs in her unit
HONOLULU (HawaiiNewsNow/Gray News) - In a shocking case, a Hawaiian renter is suing her landlord for allegedly trespassing, taking her belongings and using drugs in her kitchen while she was away.
The suit by the Japanese national also alleges that the man was caught on security camera apparently masturbating in her living room.
“She was shocked, she is still traumatized,” her attorney, Andrew Daiske Stewart said. “You feel safe in your own dwelling but when something like this happens, I can’t imagine,”
Advocates say the case is a stark reminder that tenants have a right to privacy and landlords who violate that can face consequences.
According to the suit, the woman moved into the duplex in Waipahu back in August 2021 and shortly after that began to notice that her belongings were being removed or moved around.
After installing several security cameras, the woman found that her landlord was entering her apartment while she was away ― eating her food, rummaging through her drawers, taking her belongings and opening her refrigerator door to eat her food.
Two of the videos also show the man apparently masturbating and one taken on March 26 shows him reaching into the pocket of a camouflage jacket for a pipe and smoking some kind of drug.
“She’s going to have to carry this experience to where she moves or rents next,” Stewart said.
He added his client has filed a temporary restraining order along with a complaint with the Honolulu Police Department, which initially declined to investigate the case.
Stewart said they turned it down because they initially thought the woman didn’t have a formal lease and that she was renting a room in the house and was not living in a separate ohana unit.
But a check of city building permits show that the rental until was built as an add-on in 2012 and that the apartment has a separate entrances.
Police now say they plan to reach out to the victim and will review the case further.
HNN attempted contacting the owner by phone and in person, but was unable to reach him. He is not being identified in this story because he isn’t charged with a crime.
Dan O’Meara, an attorney with the Legal Aid Society of Hawaii, says landlords have to have a specific reason for entering an apartment, such as a leaky faucet or backed up toilet. “Only if there’s an emergency can a landlord come in and clearly in this situation that wasn’t the case,” he said.
Copyright 2022 Hawaii News Now via Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/04/29/hawaiian-renter-sues-after-cameras-show-landlord-using-drugs-her-unit/ | 2022-04-29T08:05:58Z |
Country
United States of America US Virgin Islands United States Minor Outlying Islands Canada Mexico, United Mexican States Bahamas, Commonwealth of the Cuba, Republic of Dominican Republic Haiti, Republic of Jamaica Afghanistan Albania, People's Socialist Republic of Algeria, People's Democratic Republic of American Samoa Andorra, Principality of Angola, Republic of Anguilla Antarctica (the territory South of 60 deg S) Antigua and Barbuda Argentina, Argentine Republic Armenia Aruba Australia, Commonwealth of Austria, Republic of Azerbaijan, Republic of Bahrain, Kingdom of Bangladesh, People's Republic of Barbados Belarus Belgium, Kingdom of Belize Benin, People's Republic of Bermuda Bhutan, Kingdom of Bolivia, Republic of Bosnia and Herzegovina Botswana, Republic of Bouvet Island (Bouvetoya) Brazil, Federative Republic of British Indian Ocean Territory (Chagos Archipelago) British Virgin Islands Brunei Darussalam Bulgaria, People's Republic of Burkina Faso Burundi, Republic of Cambodia, Kingdom of Cameroon, United Republic of Cape Verde, Republic of Cayman Islands Central African Republic Chad, Republic of Chile, Republic of China, People's Republic of Christmas Island Cocos (Keeling) Islands Colombia, Republic of Comoros, Union of the Congo, Democratic Republic of Congo, People's Republic of Cook Islands Costa Rica, Republic of Cote D'Ivoire, Ivory Coast, Republic of the Cyprus, Republic of Czech Republic Denmark, Kingdom of Djibouti, Republic of Dominica, Commonwealth of Ecuador, Republic of Egypt, Arab Republic of El Salvador, Republic of Equatorial Guinea, Republic of Eritrea Estonia Ethiopia Faeroe Islands Falkland Islands (Malvinas) Fiji, Republic of the Fiji Islands Finland, Republic of France, French Republic French Guiana French Polynesia French Southern Territories Gabon, Gabonese Republic Gambia, Republic of the Georgia Germany Ghana, Republic of Gibraltar Greece, Hellenic Republic Greenland Grenada Guadaloupe Guam Guatemala, Republic of Guinea, Revolutionary
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.kitv.com/news/local/kailua-kona-couple-charged-with-over-half-dozen-drug-offenses/article_76b6f180-c791-11ec-8994-eff19c2ca05b.html | 2022-04-29T10:18:36Z |
Country
United States of America US Virgin Islands United States Minor Outlying Islands Canada Mexico, United Mexican States Bahamas, Commonwealth of the Cuba, Republic of Dominican Republic Haiti, Republic of Jamaica Afghanistan Albania, People's Socialist Republic of Algeria, People's Democratic Republic of American Samoa Andorra, Principality of Angola, Republic of Anguilla Antarctica (the territory South of 60 deg S) Antigua and Barbuda Argentina, Argentine Republic Armenia Aruba Australia, Commonwealth of Austria, Republic of Azerbaijan, Republic of Bahrain, Kingdom of Bangladesh, People's Republic of Barbados Belarus Belgium, Kingdom of Belize Benin, People's Republic of Bermuda Bhutan, Kingdom of Bolivia, Republic of Bosnia and Herzegovina Botswana, Republic of Bouvet Island (Bouvetoya) Brazil, Federative Republic of British Indian Ocean Territory (Chagos Archipelago) British Virgin Islands Brunei Darussalam Bulgaria, People's Republic of Burkina Faso Burundi, Republic of Cambodia, Kingdom of Cameroon, United Republic of Cape Verde, Republic of Cayman Islands Central African Republic Chad, Republic of Chile, Republic of China, People's Republic of Christmas Island Cocos (Keeling) Islands Colombia, Republic of Comoros, Union of the Congo, Democratic Republic of Congo, People's Republic of Cook Islands Costa Rica, Republic of Cote D'Ivoire, Ivory Coast, Republic of the Cyprus, Republic of Czech Republic Denmark, Kingdom of Djibouti, Republic of Dominica, Commonwealth of Ecuador, Republic of Egypt, Arab Republic of El Salvador, Republic of Equatorial Guinea, Republic of Eritrea Estonia Ethiopia Faeroe Islands Falkland Islands (Malvinas) Fiji, Republic of the Fiji Islands Finland, Republic of France, French Republic French Guiana French Polynesia French Southern Territories Gabon, Gabonese Republic Gambia, Republic of the Georgia Germany Ghana, Republic of Gibraltar Greece, Hellenic Republic Greenland Grenada Guadaloupe Guam Guatemala, Republic of Guinea, Revolutionary
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.kitv.com/weather/thursday-evening-weather-report-april-28-2022/article_1df36ddc-c794-11ec-89ca-db31da58bde9.html | 2022-04-29T10:18:42Z |
More clouds today will give way to an unsettled weekend
Rain and even some thunderstorms are on tap this weekend
Today will bring more seasonable temperatures, in the 60s for most, but some of our lower elevations may get into the low 70s. We’ll see mainly cloudy skies throughout the day and a few stray showers are possible this morning, but not everyone will see them.
We will hold on to mainly cloudy skies tonight and some showers are possible at times. Lows will be mild in the upper 40s and 50s.
A warm front will lift through our area on Saturday, bringing on-and-off scattered rain throughout the day. Temperatures will be seasonable once again, in the 60s and low 70s for most.
A cold front will then swing through on Sunday bringing showers and thunderstorms mainly during the afternoon hours. Some storms could be on the stronger side with gusty winds and locally heavy downpours. We’ll still be Spring-like with highs in the upper 60s and 70s.
As we head into Monday, we should see some drier and warmer weather to start the workweek. Mainly sunny skies and highs in the 70s are expected.
Rain and thunderstorms will gradually build back in on Tuesday, and we look to stay unsettled throughout the rest of the week. Make sure to stay tuned and catch the latest on WVVA.
Copyright 2022 WVVA. All rights reserved. | https://www.wvva.com/2022/04/29/more-clouds-today-will-give-way-an-unsettled-weekend/ | 2022-04-29T11:09:19Z |
Racial split on COVID-19 endures as restrictions ease in US
(AP) - Black and Hispanic Americans remain far more cautious in their approach to COVID-19 than white Americans, recent polls show, reflecting diverging preferences on how to deal with the pandemic as federal, state and local restrictions fall by the wayside.
Despite majority favorability among U.S. adults overall for measures like mask mandates, public health experts said divided opinions among racial groups reflect not only the unequal impact of the pandemic on people of color but also apathy among some white Americans.
Black Americans (63%) and Hispanic Americans (68%) continue to be more likely than white Americans (45%) to say they are at least somewhat worried about themselves or a family member being infected with COVID-19, according to an April poll from The Associated Press-NORC Center for Public Affairs Research.
Throughout the pandemic, Black and Hispanic communities have experienced higher rates of illness and death from COVID, said Amelia Burke-Garcia, public health program area director at NORC. Those experiences have resulted in greater levels of stress, anxiety and awareness of the risks of catching COVID-19, she said, which means people of color are more likely to feel measures like mask mandates are needed.
“We’ve seen these trends endure throughout the entire pandemic,” Burke-Garcia said. “What we’re seeing now as mitigation measures are being rolled back is there’s still great concern amongst Black Americans and Hispanic Americans around the risk of getting sick.”
Seventy-one percent of Black Americans say they favor requiring face masks for people traveling on airplanes, trains and other types of public transportation. That’s more than the 52% of white Americans who support mask mandates for travelers; 29% of white Americans are opposed. Among Hispanic Americans, 59% are in favor and 20% are opposed. The poll was conducted before a ruling by a federal judge scuttled the government’s mask mandate for travelers.
In Indiana, Tuwanna Plant said she sees fewer and fewer people wearing masks in public, even though she said she has been diligent in always wearing one. Plant, who is Black, said she sees people treating the pandemic like it’s over, and she wants the mask mandate to continue.
Plant, a 46-year-old sous chef, said she had some concerns about getting the vaccine and took every other precaution, such as cleaning and masking, to avoid getting sick but recently was hospitalized for COVID-19.
The experience scared her — she has a preexisting lung condition, and knew family members who died from COVID-19. She said she plans to get vaccinated as soon as she can.
“I called my children while I was in the emergency room,” Plant said. “I didn’t know ... if it was going to get better or worse, I didn’t know. So it was the experience for me altogether.”
Dr. Celine Gounder, an infectious disease specialist and epidemiologist and editor-at-large at Kaiser Health News, said people’s lived experiences deeply shape how they perceive the pandemic. Anecdotes and personal experience can have a larger impact on behavior than numbers, she said, and people of color are more likely to have had negative experiences with health care prior to and during the pandemic.
While new medicines and vaccines have made it easier to treat COVID-19, Gounder said many people still face systemic barriers to accessing that medical care. Others risk losing their jobs or are unable to take time off if they do fall ill, she said, or cannot avoid things like public transit to reduce their exposures.
“When people argue that they don’t have to mask on the plane, that means something very different for someone who has access to all of these new innovations than it does for somebody who has no health insurance, who struggles to care for an elderly parent and their children, who’s maybe a single mom working in a job where she has no paid sick and family medical leave,” Gounder said. “It’s just a completely different calculation.”
In January, an AP-NORC poll showed Black and Hispanic Americans were more likely than white Americans to feel certain things would be essential for getting back to life without feeling at risk of infection. For example, 76% of Black Americans and 55% of Hispanic Americans said it was essential for getting back to normal that most people regularly wear face masks in public indoor places, compared with 38% of white Americans.
Last month, an AP-NORC poll showed Black and Hispanic Americans, 69% and 49%, were more likely than white Americans, 35%, to say they always or often wear a face mask around others.
Lower support for mask mandates and other precautions among white Americans may also reflect less sensitivity towards what occurs in communities of color. In a 2021 study of mask wearing during the early part of the pandemic, researchers found that mask wearing among white people increased when white people were dying at greater rates in the surrounding community. When Black and Hispanic people were dying, mask usage was lower.
Berkeley Franz, a co-author of the paper, said that in addition to residential segregation that separates white people from communities of color, past research has shown that white people can display ambivalence toward policies that they believe mostly help people of color.
“Anti-Blackness is really pervasive and has tremendous consequences, both in terms of the policies that get passed, and what doesn’t,” Franz said. “White people can still have really racist actions without seeing themselves that way and understanding the consequences. It’s largely below the surface and unintentional but has tremendous consequences in terms of equity.”
Communities of color also have a different perception of risk from the pandemic than their white counterparts, said Michael Niño, a sociology professor at the University of Arkansas who co-authored a paper on race, gender and masking in the pandemic.
“Masking is something that is relatively cheap, it’s effective, and it’s something that can be easily done,” he said. “It doesn’t require any sort of governmental response. These broader histories of racism and sexism in the United States are most certainly shaping some of the patterns we’re seeing.”
___
The AP-NORC poll of 1,085 adults was conducted April 14-18 using a sample drawn from NORC’s probability-based AmeriSpeak Panel, which is designed to be representative of the U.S. population. The margin of sampling error for all respondents is plus or minus 3.9 percentage points.
___
Ma covers education and equity for AP’s Race and Ethnicity team. Follow her on Twitter: https://www.twitter. Fingerhut, an AP polling writer, is based in Washington.
The Associated Press’ reporting around issues of race and ethnicity is supported in part by the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/04/29/racial-split-covid-19-endures-restrictions-ease-us/ | 2022-04-29T11:09:26Z |
‘Exceptionally rare diamond’: World’s largest blue diamond at auction sells for $57.5M
Published: Apr. 28, 2022 at 3:21 PM EDT|Updated: 15 hours ago
(CNN) - They say a diamond is forever, and that’s about how long it would take for most people to pay for this one.
The world’s largest blue diamond ever to come to auction was recently sold for $57.5 million.
The diamond is called “The De Beers Cullinan Blue.” It’s a 15.10-carat gem, and it was sold at Sotheby’s in Hong Kong after an eight-minute bidding war among four hopeful buyers.
The diamond was originally estimated to bring in $48 million, but an anonymous buyer on the phone raised the price by more than $9 million.
The “exceptionally rare diamond” was found in South Africa’s Cullinan Mine last year, and it is said to have the highest rankings by which colored diamonds are judged.
Copyright 2022 CNN Newsource. All rights reserved. | https://www.whsv.com/2022/04/28/exceptionally-rare-diamond-worlds-largest-blue-diamond-sells-575m-auction/ | 2022-04-29T11:21:14Z |
Google adds ways to keep personal info private in searches
(AP) - Google has expanded options for keeping personal information private from online searches.
The company said Friday it will let people request that more types of content such as personal contact information like phone numbers, email and physical addresses be removed from search results.
The new policy also allows the removal of other information that may pose a risk for identity theft, such as confidential log-in credentials.
The company said in a statement that open access to information is vital, “but so is empowering people with the tools they need to protect themselves and keep their sensitive, personally identifiable information private.”
“Privacy and online safety go hand in hand. And when you’re using the internet, it’s important to have control over how your sensitive, personally identifiable information can be found,” it said.
Google Search earlier had permitted people to request that highly personal content that could cause direct harm be removed. That includes information removed due to doxxing and personal details like bank account or credit card numbers that could be used for fraud.
But information increasing pops up in unexpected places and is used in new ways, so policies need to evolve, the company said.
Having personal contact information openly available online also can pose a threat and Google said it had received requests for the option to remove that content, too.
It said that when it receives such requests it will study all the content on the web page to avoid limiting availability of useful information or of content on the public record on government or other official websites.
“It’s important to remember that removing content from Google Search won’t remove it from the internet, which is why you may wish to contact the hosting site directly, if you’re comfortable doing so,” it said.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/04/29/google-adds-ways-keep-personal-info-private-searches/ | 2022-04-29T11:21:23Z |
Hawaiian renter sues after cameras show landlord using drugs in her unit
HONOLULU (HawaiiNewsNow/Gray News) - In a shocking case, a Hawaiian renter is suing her landlord for allegedly trespassing, taking her belongings and using drugs in her kitchen while she was away.
The suit by the Japanese national also alleges that the man was caught on security camera apparently masturbating in her living room.
“She was shocked. She is still traumatized,” said her attorney, Andrew Daiske Stewart. “You feel safe in your own dwelling, but when something like this happens, I can’t imagine,”
Advocates said the case is a stark reminder that tenants have a right to privacy, and landlords who violate that can face consequences.
According to the suit, the woman moved into the duplex in Waipahu back in August 2021 and, shortly after that, began to notice that her belongings were being removed or moved around.
After installing several security cameras, the woman found that her landlord was entering her apartment while she was away ― eating her food, rummaging through her drawers and taking her belongings.
Two of the videos also show the man apparently masturbating, and one taken on March 26 shows him reaching into the pocket of a camouflage jacket for a pipe and smoking some kind of drug.
“She’s going to have to carry this experience to where she moves or rents next,” Stewart said.
He added his client has filed a temporary restraining order along with a complaint with the Honolulu Police Department, which initially declined to investigate the case.
Stewart said they turned it down because they initially thought the woman didn’t have a formal lease and that she was renting a room in the house and was not living in a separate ohana unit.
But a check of city building permits show that the rental until was built as an add-on in 2012 and that the apartment has a separate entrances.
Police now say they plan to reach out to the victim and will review the case further.
HNN attempted contacting the owner by phone and in person, but was unable to reach him. He is not being identified in this story because he isn’t charged with a crime.
Dan O’Meara, an attorney with the Legal Aid Society of Hawaii, said landlords have to have a specific reason for entering an apartment, such as a leaky faucet or backed-up toilet. “Only if there’s an emergency can a landlord come in, and clearly in this situation that wasn’t the case,” he said.
Copyright 2022 Hawaii News Now via Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/04/29/hawaiian-renter-sues-after-cameras-show-landlord-using-drugs-her-unit/ | 2022-04-29T11:21:32Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of AbbVie Inc. (NYSE: ABBV).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/abbvie-inc-loss-submission-form/?id=26477&from=4
The lawsuit seeks to recover losses for shareholders who purchased AbbVie between April 30, 2021 and August 31, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 6, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, AbbVie Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) safety concerns about Pfizer Inc.'s drug Xeljanz extended to Abbvie's drug Rinvoq and to other Janus kinase enzyme inhibitor drugs; (2) as a result, it was likely that the U.S. Food and Drug Administration would require additional safety warnings for Rinvoq and would delay the approval of additional treatment indications for Rinvoq; and (3) therefore, defendants' statements about the Company's business, operations, and prospects lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/abbv-shareholder-alert-jakubowitz-law-reminds-abbvie-shareholders-lead-plaintiff-deadline-june-6-2022/ | 2022-04-29T11:21:40Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- The Ad Council, America's leader in using the power of communications to drive social change, elected 21 new members to its Board of Directors during its spring meeting held yesterday with both virtual and in-person elements. The non-profit organization's Board is chaired by Linda Yaccarino, Chairman, Global Advertising and Partnerships, NBCUniversal. Vice Chairs include Jacki Kelley, CEO, Americas, dentsu, and Diego Scotti, Executive Vice President and Chief Marketing Officer at Verizon.
Throughout the organization's 80-year history, the Ad Council has been at the forefront of driving the communications industry's social impact efforts. Its Board of Directors is comprised of an esteemed group of senior marketing and media executives whose talent, insights and financial support ensure that the Ad Council's social good campaigns are effective and impactful. Most recently, the Ad Council's Board of Directors led the industry's response to COVID-19 and the launch of the Ad Council and COVID Collaborative's COVID-19 Vaccine Education Initiative, the most significant public education effort in U.S. history.
New members of the Ad Council Board of Directors include:
- Jonathan Adashek, Chief Communications Officer and Senior Vice President, Marketing and Communications, IBM
- Michele Barlow, Brand Strategy, Creative, Content and Media Executive, Bank of America
- Vanessa A. Broadhurst, Executive Vice President, Global Corporate Affairs, Johnson & Johnson
- Alex Collmer, Chief Executive Officer, Vidmob
- Tina Davis, Global Chief Marketing Officer, Citi
- Rachel Ferdinando, Senior Vice President & Chief Marketing Officer, PepsiCo Frito Lay North America
- Jim Habig, Vice President, Marketing, LinkedIn
- Gail Heimann, Chief Executive Officer, Weber Shandwick
- Lisa Ryan Howard, Global Head of Advertising and Marketing Solutions, The New York Times
- Kellyn Kenny, Chief Marketing and Growth Officer, AT&T Communications
- Sarah Kramer, Chief Executive Officer, Spark Foundry
- Tammy Levine, Head of Brand Management & Sponsorships, Wells Fargo
- Doug Martin, Chief Brand and Disruptive Growth Officer, General Mills
- Stacy Martinet, Vice President, Marketing & Communications, Adobe
- Ryan Mayward, Vice President, Ad Sales, Instacart
- Richard Parkinson, Chief Brand Officer, Prudential Financial
- Mary Ann Reilly, Senior Vice President, Head of North America Marketing, Visa
- Karin Timpone, Executive Vice President, Chief Marketing Officer, Major League Baseball
- Kerry Tucker, Chief Marketing and Franchise Officer, pocket.watch
- Bill Watkins, Chief Revenue Officer, Pinterest
- William White, Chief Marketing Officer, Walmart
"Our Board is an invaluable driving force behind the Ad Council's capacity to create positive change on our country's most pressing issues," said Lisa Sherman, President and CEO of the Ad Council. "We are excited to welcome these new leaders and work together to leverage their innovation, expertise and resources as we continue to mobilize our industry around purpose-driven work."
The Ad Council also added a new member to its Leadership Council, Chris Kelly, CEO of Upwave. The Leadership Council consists of executives across media, tech, marketing and advertising who identify ways their companies can activate campaigns and share key learnings, insights, and capabilities in support the Ad Council's work and the country's most critical social issues.
A complete list of the Ad Council Board of Directors and Leadership Council is available on the organization's website.
THE AD COUNCIL
The Ad Council has a long history of creating life-saving public service communications in times of national crisis, starting in the organization's earliest days during World War II to September 11th and natural disasters like Hurricane Katrina and Hurricane Sandy and, most recently, leading the industry's response to the COVID-19 pandemic. Its deep relationships with media outlets, the creative community, issue experts and government leaders make the organization uniquely poised to quickly distribute life-saving impactful information to millions of Americans.
The Ad Council is where creativity and causes converge. The non-profit organization brings together the most creative minds in advertising, media, technology and marketing to address many of the nation's most important causes. The Ad Council has created many of the most iconic campaigns in advertising history. Friends Don't Let Friends Drive Drunk. Smokey Bear. Love Has No Labels.
The Ad Council's innovative social good campaigns raise awareness, inspire action and save lives. To learn more, visit AdCouncil.org, follow the Ad Council's communities on Facebook and Twitter, and view the creative on YouTube.
View original content to download multimedia:
SOURCE The Ad Council | https://www.whsv.com/prnewswire/2022/04/29/ad-council-appoints-21-new-members-its-board-directors/ | 2022-04-29T11:21:47Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Affirm Holdings, Inc. (NASDAQ: AFRM).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/affirm-holdings-inc-loss-submission-form/?id=26463&from=4
The lawsuit seeks to recover losses for shareholders who purchased Affirm between February 12, 2021 and February 10, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until April 29, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Affirm Holdings, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) Affirm's "buy now, pay-later" service facilitated excessive consumer debt, regulatory arbitrage, and data harvesting; (ii) the foregoing subjected Affirm to a heightened risk of regulatory scrutiny and enforcement action; (iii) Affirm maintained inadequate disclosure controls and procedures and internal control over financial reporting; (iv) accordingly, Affirm's tweet for its second quarter 2022 financial results contained selected metrics that made it appear that the Company had performed better than it actually did; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/afrm-shareholder-alert-jakubowitz-law-reminds-affirm-shareholders-lead-plaintiff-deadline-april-29-2022/ | 2022-04-29T11:21:53Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of C3.ai, Inc. (NYSE: AI).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/c3-ai-inc-loss-submission-form/?id=26465&from=4
This lawsuit is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired: (a) C3.ai Class A common stock pursuant and/or traceable to the documents issued in connection with the Company's initial public offering conducted on or about December 9, 2020; and/or (b) C3.ai securities between December 9, 2020 and February 15, 2022, both dates inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 3, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, C3.ai, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) C3.ai's partnership with Baker Hughes was deteriorating; (ii) C3.ai was employing a flawed accounting methodology to conceal the deterioration of its Baker Hughes partnership; (iii) C3.ai faced challenges in product adoption and significant salesforce turnover; (iv) the Company overstated, inter alia, the extent of its investment in technology, description of its customers, its total addressable market, the pace of its market growth, and the scale of alliances with its major business partners; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/ai-shareholder-alert-jakubowitz-law-reminds-c3ai-inc-shareholders-lead-plaintiff-deadline-may-3-2022/ | 2022-04-29T11:22:01Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Akebia Therapeutics, Inc. (NASDAQ: AKBA).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/akebia-therapeutics-inc-loss-submission-form/?id=26468&from=4
The lawsuit seeks to recover losses for shareholders who purchased Akebia between June 28, 2018 and September 2, 2020.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 13, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Akebia Therapeutics, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company's lead investigational product candidate, vadadustat, was not as safe in treating non-dialysis dependent chronic kidney disease patients with anemia as defendants had represented; (ii) as a result, defendants overstated the clinical prospects of a Phase 3 clinical program for vadadustat; (iii) accordingly, defendants also overstated vadadustat's overall commercial and regulatory prospects; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/akba-shareholder-alert-jakubowitz-law-reminds-akebia-shareholders-lead-plaintiff-deadline-may-13-2022/ | 2022-04-29T11:22:08Z |
GAAP Diluted Net Income of $0.87 per Unit
Adjusted Diluted Net Income of $0.90 per Unit
Cash Distribution of $0.90 per Unit
NASHVILLE, Tenn., April 29, 2022 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today reported financial and operating results for the quarter ended March 31, 2022.
"Financial markets were volatile in the first quarter, reflecting heightened uncertainty, as investors reset interest rate expectations amid persistent inflation, amplified by geopolitical conflict," said Seth P. Bernstein, President and CEO of AllianceBernstein. "Against this backdrop, which continues into the second quarter, we experienced net inflows of $11.4 billion, or 6% annualized organic growth, led by a large custom target-date mandate and accelerating private wealth inflows. Active equities and municipals grew by 6% and 7% annualized, respectively, offsetting taxable fixed income outflows. Investment performance lagged as growth equity valuations reset, with higher interest rates weighing on both equity and fixed income markets. On a year-over-year basis, our adjusted operating income of $285 million grew by 10%, and adjusted earnings per Unit and distributions to Unitholders increased by 11%."
Bernstein continued, "The retail channel drove over $20 billion of gross sales for the fifth quarter in a row, with 13% active equity organic growth, positive for the 20th straight quarter, and 10% organic growth in municipals. Active fixed income outflows resulted in channel net outflows of $1 billion. Institutional grew 12% annualized, including a previously disclosed $9.6 billion target-date mandate. Our institutional pipeline of $9.8 billion reflected its second highest fee rate to-date, with private alternatives comprising nearly two-thirds of the annualized fee base. Private Wealth accelerated its organic growth to 7% annualized, with net flows positive six of the last seven quarters. Bernstein Research revenues declined 1% versus the prior year, as increases in the U.S. and Europe were offset by lower activity in Asia."
Bernstein concluded, "Looking forward, financial markets may remain volatile reflecting a period of heightened uncertainty. Our investment teams are balancing tactical views while maintaining a disciplined process and long-term perspective, to selectively identify quality investments for our client base. Our time-tested investment teams have the experience to navigate the complexities ahead."
The firm's cash distribution per Unit of $0.90 is payable on May 26, 2022, to holders of record of AB Holding Units at the close of business on May 9, 2022.
Total net inflows were $11.4 billion in the first quarter, compared to net inflows of $7.4 billion in the fourth quarter of 2021, and net inflows of $5.2 billion in the prior year first quarter.
Institutional channel first quarter net inflows of $10.2 billion compared to net inflows of $0.4 billion in the fourth quarter of 2021. Institutional gross sales of $14.3 billion increased sequentially from $6.6 billion. The pipeline of awarded but unfunded Institutional mandates decreased sequentially to $9.8 billion at March 31, 2022 from $21.5 billion at December 31, 2021, primarily reflecting the funding of a $9.6 billion retirement solution mandate in January 2022.
Retail channel first quarter net outflows of $1.0 billion compared to net inflows of $6.3 billion in the fourth quarter of 2021. Retail gross sales of $20.6 billion decreased sequentially from a record $27.6 billion.
Private Wealth channel first quarter net inflows of $2.2 billion compared to net inflows of $0.7 billion in the fourth quarter of 2021. Private Wealth gross sales of $6.0 billion increased sequentially from $5.2 billion.
We continue to expect approximately $5 billion of additional AXA-related redemptions of low-fee retail AUM commencing in the second quarter and continuing into the second half of 2022.
First Quarter Financial Results
We are presenting both earnings information derived in accordance with accounting principles generally accepted in the United States of America ("US GAAP") and non-GAAP, adjusted earnings information in this release. Management principally uses these non-GAAP financial measures in evaluating performance because we believe they present a clearer picture of our operating performance and allow management to see long-term trends without the distortion caused by long-term incentive compensation-related mark-to-market adjustments, real estate charges/credits and other adjustment items. Similarly, we believe that non-GAAP earnings information helps investors better understand the underlying trends in our results and, accordingly, provides a valuable perspective for investors. Please note, however, that these non-GAAP measures are provided in addition to, and not as a substitute for, any measures derived in accordance with US GAAP and they may not be comparable to non-GAAP measures presented by other companies. Management uses both US GAAP and non-GAAP measures in evaluating our financial performance. The non-GAAP measures alone may pose limitations because they do not include all of our revenues and expenses.
AB Holding is required to distribute all of its Available Cash Flow, as defined in the AB Holding Partnership Agreement, to its Unitholders (including the General Partner). Available Cash Flow typically is the adjusted diluted net income per unit for the quarter multiplied by the number of units outstanding at the end of the quarter. Management anticipates that Available Cash Flow will continue to be based on adjusted diluted net income per unit, unless management determines, with concurrence of the Board of Directors, that one or more adjustments made to adjusted net income should not be made with respect to the Available Cash Flow calculation.
US GAAP Earnings
Revenues
First quarter net revenues of $1.1 billion increased 10% from $1.0 billion in the first quarter of 2021. Higher performance-based fees, investment advisory base fees and distribution revenues were partially offset by investment losses in the current year compared to investment gains in the prior year.
Sequentially, net revenues of $1.1 billion decreased 13% from $1.3 billion. The decrease was due to lower performance-based fees, higher investment losses, lower investment advisory base fees and lower distribution revenues, partially offset by higher Bernstein Research revenues.
First quarter Bernstein Research revenues of $118 million decreased 1% compared to the prior year first quarter and increased 3% sequentially. The slight decrease was driven by lower customer trading activity in Asia partially offset by higher market volatility and trading volumes in the US and UK.
Expenses
First quarter operating expenses of $857 million increased 15% from $747 million in the first quarter of 2021. The increase is due to higher general and administrative ("G&A") expenses, total employee compensation and benefits expense and promotion and servicing expenses. Within G&A, the increase was driven by higher portfolio servicing fees, professional fees, technology and office-related expenses. Employee compensation and benefits expense increased due to higher incentive compensation, base compensation, commissions and fringes. Promotion and servicing expenses increased due to higher distribution-related payments, travel and entertainment and marketing expenses.
Sequentially, operating expenses decreased 2% from $872 million, primarily driven by lower promotion and servicing expenses, partially offset by higher G&A expense. Promotion and servicing expenses decreased due to lower distribution-related payments and marketing expenses. Within G&A, the increase was driven by higher portfolio servicing fees and professional fees, partially offset by a favorable foreign exchange translation impact and lower technology and office-related expenses.
Operating Income, Margin and Net Income Per Unit
First quarter operating income of $248 million decreased 5% from $261 million in the first quarter of 2021 and the operating margin of 24.7% in the first quarter of 2022 decreased 120 basis points from 25.9% in the first quarter of 2021.
Sequentially, operating income decreased 37% from $393 million in the fourth quarter of 2021 and the operating margin of 24.7% decreased 610 basis points from 30.8% in the fourth quarter of 2021.
First quarter diluted net income per Unit was $0.87 compared to $0.81 in the first quarter of 2021 and $1.27 in the fourth quarter of 2021.
Non-GAAP Earnings
This section discusses our first quarter 2022 non-GAAP financial results, compared to the first quarter of 2021 and the fourth quarter of 2021. The phrases "adjusted net revenues", "adjusted operating expenses", "adjusted operating income", "adjusted operating margin" and "adjusted diluted net income per Unit" are used in the following earnings discussion to identify non-GAAP information.
Revenues
First quarter adjusted net revenues of $904 million increased 10% from $820 million in the first quarter of 2021. Higher investment advisory base fees and performance-based fees were partially offset by investment losses compared to investment gains in the current year.
Sequentially, adjusted net revenues decreased 12% from $1.0 billion. Lower performance-based fees, investment advisory base fees, higher investment losses and lower net dividend and interest income were partially offset by higher Bernstein Research revenues.
Expenses
First quarter adjusted operating expenses of $619 million increased 11% from $560 million in the first quarter of 2021. Total employee compensation and benefits, G&A expense and promotion and servicing expenses were all higher. Employee compensation and benefits expense increased due to higher incentive compensation, base compensation, commissions and fringes. Within G&A, the increase was driven by higher technology expenses, portfolio servicing fees, office-related expenses, errors and professional fees. Promotion and servicing expenses increased due to higher travel and entertainment, marketing expense and transfer fees.
Sequentially, adjusted operating expenses decreased 2% from $630 million. Lower G&A expenses and promotion and servicing expenses were partially offset by higher total employee compensation and benefits expense. Within G&A, the decrease is attributable to a favorable foreign exchange translation impact, higher technology and office-related expenses. Within promotion and servicing expenses, the decrease was driven by lower marketing expenses and transfer fees, partially offset by higher trade execution costs. Employee compensation and benefits expense increased due to higher incentive compensation and commissions, partially offset by lower base compensation.
Operating Income, Margin and Net Income Per Unit
First quarter adjusted operating income of $285 million increased 10% from $260 million in the first quarter of 2021, and the adjusted operating margin of 31.5% decreased 20 basis points from 31.7%.
Sequentially, adjusted operating income of $285 million decreased 28% from $394 million and the adjusted operating margin of 31.5% decreased 700 basis points from 38.5%.
First quarter adjusted diluted net income per Unit was $0.90 compared to $0.81 in the first quarter of 2021 and $1.29 in the fourth quarter of 2021.
Headcount
As of March 31, 2022, we had 4,161 employees, compared to 3,920 employees as of March 31, 2021 and 4,118 as of December 31, 2021.
First Quarter 2022 Earnings Conference Call Information
Management will review First Quarter 2022 financial and operating results during a conference call beginning at 8:00 a.m. (CST) on Friday, April 29, 2022. The conference call will be hosted by Seth P. Bernstein, President and Chief Executive Officer; Bill Siemers, Interim Chief Financial Officer; Controller and Chief Accounting Officer; and Catherine Burke, Chief Operating Officer and Head of Private Wealth.
Parties may access the conference call by either webcast or telephone:
- To listen by webcast, please visit AB's Investor Relations website at http://alliancebernstein.com/investorrelations at least 15 minutes prior to the call to download and install any necessary audio software.
- To listen by telephone, please dial (833) 495-0952 in the U.S. or (409) 216-0498 outside the U.S. 10 minutes before the scheduled start time. The conference ID# is 1693987.
The presentation management will review during the conference call will be available on AB's Investor Relations website shortly after the release of First Quarter 2022 financial and operating results on April 29, 2022.
A replay of the webcast will be made available beginning approximately one hour after the conclusion of the conference call and will be available on AB's website for one week. An audio replay of the conference call will also be available for one week. To access the audio replay, please call (855) 859-2056 in the US, or (404) 537-3406 outside the US, and provide the conference ID #: 1693987.
Cautions Regarding Forward-Looking Statements
Certain statements provided by management in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The most significant of these factors include, but are not limited to, the following: the performance of financial markets, the investment performance of sponsored investment products and separately-managed accounts, general economic conditions, industry trends, future acquisitions, integration of acquired companies, competitive conditions, and government regulations, including changes in tax regulations and rates and the manner in which the earnings of publicly-traded partnerships are taxed. AB cautions readers to carefully consider such factors. Further, such forward-looking statements speak only as of the date on which such statements are made; AB undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. For further information regarding these forward-looking statements and the factors that could cause actual results to differ, see "Risk Factors" and "Cautions Regarding Forward-Looking Statements" in AB's Form 10-K for the year ended December 31, 2021 and subsequent Forms 10-Q. Any or all of the forward-looking statements made in this news release, Form 10-K, Forms 10-Q, other documents AB files with or furnishes to the SEC, and any other public statements issued by AB, may turn out to be wrong. It is important to remember that other factors besides those listed in "Risk Factors" and "Cautions Regarding Forward-Looking Statements", and those listed below, could also adversely affect AB's revenues, financial condition, results of operations and business prospects.
The forward-looking statements referred to in the preceding paragraph include statements regarding:
- The pipeline of new institutional mandates not yet funded: Before they are funded, institutional mandates do not represent legally binding commitments to fund and, accordingly, the possibility exists that not all mandates will be funded in the amounts and at the times currently anticipated, or that mandates ultimately will not be funded.
- The possibility that AB will engage in open market purchases of AB Holding Units to help fund anticipated obligations under our incentive compensation award program: The number of AB Holding Units AB may decide to buy in future periods, if any, to help fund incentive compensation awards depends on various factors, some of which are beyond our control, including the fluctuation in the price of an AB Holding Unit (NYSE: AB) and the availability of cash to make these purchases.
Qualified Tax Notice
This announcement is intended to be a qualified notice under Treasury Regulation §1.1446-4(b)(4). Please note that 100% of AB Holding's distributions to foreign investors is attributable to income that is effectively connected with a United States trade or business. Accordingly, AB Holding's distributions to foreign investors are subject to federal income tax withholding at the highest applicable tax rate, 37% effective January 1, 2018.
About AllianceBernstein
AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.
As of March 31, 2022, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 36.3% of AllianceBernstein and Equitable Holdings ("EQH"), directly and through various subsidiaries, owned an approximate 64.5% economic interest in AllianceBernstein.
Additional information about AllianceBernstein may be found on our website, www.alliancebernstein.com.
AB
Notes to Consolidated Statements of Income and Supplemental Information
(Unaudited)
Adjusted Net Revenues
Net Revenue, as adjusted, is reduced to exclude all of the company's distribution revenues, which are recorded as a separate line item on the consolidated statement of income, as well as a portion of investment advisory services fees received that is used to pay distribution and servicing costs. For certain products, based on the distinct arrangements, certain distribution fees are collected by us and passed through to third-party client intermediaries, while for certain other products, we collect investment advisory services fees and a portion is passed through to third-party client intermediaries. In both arrangements, the third-party client intermediary owns the relationship with the client and is responsible for performing services and distributing the product to the client on our behalf. We believe offsetting distribution revenues and certain investment advisory services fees is useful for our investors and other users of our financial statements because such presentation appropriately reflects the nature of these costs as pass-through payments to third parties that perform functions on behalf of our sponsored mutual funds and/or shareholders of these funds. Distribution-related adjustments fluctuate each period based on the type of investment products sold, as well as the average AUM over the period. Also, we adjust distribution revenues for the amortization of deferred sales commissions as these costs, over time, will offset such revenues.
We adjust investment advisory and services fees and other revenues for pass through costs, primarily related to our transfer agent and shareholder servicing fees. These fees do not affect operating income, but they do affect our operating margin. As such, we exclude these fees from adjusted net revenues.
We also adjust for the revenue impact of consolidating company-sponsored investment funds by eliminating the consolidated company-sponsored investment funds' revenues and including AB's fees from such consolidated company-sponsored investment funds and AB's investment gains and losses on its investments in such consolidated company-sponsored investment funds that were eliminated in consolidation.
Lastly, adjusted net revenues exclude investment gains and losses and dividends and interest on employee long-term incentive compensation-related investments.
During the fourth quarter of 2021, we wrote down an equity method investment; this write down brought the investment balance to zero.
Adjusted Operating Income
Adjusted operating income represents operating income on a US GAAP basis excluding (1) real estate charges (credits), (2) the impact on net revenues and compensation expense of the investment gains and losses (as well as the dividends and interest) associated with employee long-term incentive compensation-related investments, (3) our senior management's EQH award compensation, as discussed below, (4) the write-down of an investment, (5) acquisition-related expenses and (6) the impact of consolidated company-sponsored investment funds.
Real estate charges (credits) incurred have been excluded because they are not considered part of our core operating results when comparing financial results from period to period and to industry peers. However, beginning in the fourth quarter of 2019, real estate charges (credits), while excluded in the period in which the charges (credits) are recorded, are included ratably over the remaining applicable lease term.
Prior to 2009, a significant portion of employee compensation was in the form of long-term incentive compensation awards that were notionally invested in AB investment services and generally vested over a period of four years. AB economically hedged the exposure to market movements by purchasing and holding these investments on its balance sheet. All such investments had vested as of year-end 2012 and the investments have been delivered to the participants, except for those investments with respect to which the participant elected a long-term deferral. Fluctuation in the value of these investments is recorded within investment gains and losses on the income statement. Management believes it is useful to reflect the offset achieved from economically hedging the market exposure of these investments in the calculation of adjusted operating income and adjusted operating margin. The non-GAAP measures exclude gains and losses and dividends and interest on employee long-term incentive compensation-related investments included in revenues and compensation expense.
The board of directors of EQH granted to Seth P. Bernstein, our CEO, equity awards in connection with EQH's IPO. Additionally, equity awards were granted to Mr. Bernstein and other members of AB's senior management for their membership on the EQH Management Committee. These individuals may receive additional equity or cash compensation from EQH in the future related to their service on the Management Committee. Any awards granted to to these individuals by EQH are recorded as compensation expense in AB's consolidated statement of income. The compensation expense associated with these awards has been excluded from our non-GAAP measures because they are non-cash and are based upon EQH's, and not AB's, financial performance.
The write-down of the investment during the fourth quarter of 2021 has been excluded due to its non-recurring nature and because it is not part of our core operating results.
Acquisition-related expenses have been excluded because they are not considered part of our core operating results when comparing financial results from period to period and to industry peers. Acquisition-related expenses include professional fees and the recording of changes in estimates to contingent payment arrangements associated with our acquisitions. Beginning in the first quarter of 2022, acquisition-related expenses also include certain compensation-related expenses, amortization of intangible assets for contracts acquired and accretion expense with respect to contingent payment arrangements.
We adjusted for the operating income impact of consolidating certain company-sponsored investment funds by eliminating the consolidated company-sponsored funds' revenues and expenses and including AB's revenues and expenses that were eliminated in consolidation. We also excluded the limited partner interests we do not own.
Adjusted Operating Margin
Adjusted operating margin allows us to monitor our financial performance and efficiency from period to period without the volatility noted above in our discussion of adjusted operating income and to compare our performance to industry peers on a basis that better reflects our performance in our core business. Adjusted operating margin is derived by dividing adjusted operating income by adjusted net revenues.
View original content:
SOURCE AllianceBernstein | https://www.whsv.com/prnewswire/2022/04/29/alliancebernstein-holding-lp-announces-first-quarter-results/ | 2022-04-29T11:22:15Z |
First Quarter Key Metrics
- Total revenue increased 4% to $3.7 billion, including organic revenue growth of 8%
- Operating margin increased 190 basis points to 37.2%, and operating margin, adjusted for certain items, increased 60 basis points to 38.0%
- EPS increased 18% to $4.73, and EPS, adjusted for certain items, increased 13% to $4.83
- For the first three months of 2022, cash flows from operations decreased 17% to $463 million, and free cash flow decreased 17% to $440 million
First Quarter Highlights
- Repurchased 2.8 million class A ordinary shares for approximately $0.8 billion
- Announced $7.5 billion increase in share repurchase authorization and 10% increase to quarterly cash dividend
- Announced the acquisition of actuarial software platform Tyche, expanding Aon's existing capital modeling capabilities to help re/insurer clients rethink access to capital and make better business decisions
- Named to Fast Company's annual list of the World's Most Innovative Companies, based on Aon's approach to valuing intangible assets in Intellectual Property Solutions
DUBLIN, April 29, 2022 /PRNewswire/ -- Aon plc (NYSE: AON) today reported results for the three months ended March 31, 2022.
Net income attributable to Aon shareholders increased 12% to $1,023 million, or $4.73 per share on a diluted basis, compared to $913 million, or $4.00 per share, in the prior year period. Net income per share attributable to Aon shareholders, adjusted for certain items, increased 13% to $4.83 on a diluted basis, including an unfavorable impact of $0.19 per share if prior year period results were translated at current period foreign exchange rates ("foreign currency translation"), compared to $4.28 in the prior year period. Certain items that impacted first quarter results and comparisons with the prior year period are detailed in the "Reconciliation of Non-GAAP Measures - Operating Income and Diluted Earnings Per Share" on page 10 of this press release.
"In the first quarter, our team delivered strong financial results with 8% organic revenue growth, operating margin expansion of 60 basis points to 38.0%, and EPS growth of 13%," said Greg Case, Chief Executive Officer. "Our performance demonstrates how increasing global volatility has further reinforced the relevance of our Aon United strategy. In the face of rising complexity and uncertainty, our colleagues will continue to employ the advanced analytics and underlying technology of our Aon Business Services platform to identify areas of unmet need, improve service standards, and accelerate delivery of new solutions that provide clients the clarity and confidence they need to protect and grow their business."
FIRST QUARTER 2022 FINANCIAL SUMMARY
Total revenue in the first quarter increased 4% to $3.7 billion compared to the prior year period driven by 8% organic revenue growth, partially offset by a 3% unfavorable impact from foreign currency translation and a 1% unfavorable impact from acquisitions, divestitures, and other.
Total operating expenses in the first quarter increased 1% to $2.3 billion compared to the prior year period due primarily to an increase in expense associated with 8% organic revenue growth and investments in long-term growth, partially offset by a $43 million favorable impact from foreign currency translation and a $35 million decrease in transaction costs.
Foreign currency translation in the first quarter had a $41 million, or $0.19 per share, unfavorable impact on U.S. GAAP net income and a $42 million, or $0.19 per share, unfavorable impact on adjusted net income. If currency were to remain stable at today's rates, the Company would expect an unfavorable impact of approximately $0.08 per share, or an approximately $24 million decrease in operating income, in the second quarter of 2022.
Effective tax rate used in the Company's U.S. GAAP financial statements in the first quarter was 19.6%, compared to 20.1% in the prior year period. After adjusting to exclude the applicable tax impact associated with certain non-GAAP adjustments, the adjusted effective tax rate was 19.7% in both periods. The current period and the prior year period include a net favorable impact from certain discrete items.
Weighted average diluted shares outstanding decreased to 216.4 million in the first quarter compared to 228.1 million in the prior year period. The Company repurchased 2.8 million Class A Ordinary Shares for approximately $0.8 billion in the first quarter. As of March 31, 2022, the Company had approximately $8.4 billion of remaining authorization under its share repurchase program.
YEAR TO DATE 2022 CASH FLOW SUMMARY
Cash flows provided by operations for the first three months of 2022 decreased $98 million, or 17%, to $463 million compared to the prior year period, primarily due to higher incentive compensation payments following strong performance in 2021, partially offset by strong operating income growth.
Free cash flow, defined as cash flows from operations less capital expenditures, decreased 17%, to $440 million for the first three months of 2022 compared to the prior year period, reflecting a decrease in cash flows from operations, partially offset by a $6 million decrease in capital expenditures.
FIRST QUARTER 2022 REVENUE REVIEW
The first quarter revenue reviews provided below include supplemental information related to organic revenue growth, which is a non-GAAP measure that is described in detail in "Reconciliation of Non-GAAP Measures - Organic Revenue Growth and Free Cash Flow" on page 9 of this press release.
Total revenue increased $145 million, or 4%, to $3,670 million compared to the prior year period, including organic revenue growth of 8%, driven by ongoing strong retention and net new business generation.
Commercial Risk Solutions organic revenue growth of 9% reflects growth across every major geography, driven by strong retention, new business generation, and management of the renewal book portfolio. Strength in retail brokerage was highlighted by double-digit growth in the U.S., Canada, Asia, and the Pacific, driven by continued strength in core P&C, as well as strong growth in construction and project-related work. Results also reflect solid growth globally in the affinity business across both consumer and business solutions, including growth in the travel and events practice. On average globally, exposures and pricing were modestly positive, resulting in a modestly positive market impact.
Reinsurance Solutions organic revenue growth of 7% reflects strong growth in treaty, driven by strong retention and continued net new business generation, as well as strong growth in facultative placements and double-digit growth in capital markets transactions. Market impact was modestly positive on results in the quarter.
Health Solutions organic revenue growth of 8% reflects strong growth globally in core health and benefits brokerage, driven by strong retention and management of the renewal book portfolio. Strength in health and benefits brokerage included solid growth in project-related work, driven by advisory work related to wellbeing and resilience. Results also reflect double-digit growth in Consumer Benefit Solutions and double-digit growth in Human Capital, driven by rewards and advisory solutions.
Wealth Solutions organic revenue growth was flat overall. Growth in Retirement was flat, driven by modest growth in the core portion of the business, partially offset by a modest decline in project-related work. Investments grew modestly driven by new business generation and project-related work.
FIRST QUARTER 2022 EXPENSE REVIEW
Compensation and benefits expense increased $48 million, or 3%, compared to the prior year period due primarily to an increase in expense associated with 8% organic revenue growth, partially offset by a $37 million favorable impact from foreign currency translation.
Information technology expense increased $9 million, or 8%, compared to the prior year period due primarily to an increase in expense associated with 8% organic revenue growth, partially offset by a $2 million favorable impact from foreign currency translation.
Premises expense decreased $5 million, or 6%, compared to the prior year period due primarily to a reduction in rent expense associated with our Smart Working strategy, which gives colleagues flexibility in where they work.
Depreciation of fixed assets decreased $3 million, or 7%, compared to the prior year period.
Amortization and impairment of intangible assets decreased $12 million, or 30%, compared to the prior year period.
Other general expenses decreased $14 million, or 5%, compared to the prior year period due primarily to a $35 million decrease in transaction costs, partially offset by an increase in expense associated with 8% organic revenue growth and an increase in travel and entertainment expense.
FIRST QUARTER 2022 INCOME SUMMARY
Certain noteworthy items impacted adjusted operating income and adjusted operating margins in the first quarters of 2022 and 2021, which are also described in detail in "Reconciliation of Non-GAAP Measures - Operating Income and Diluted Earnings Per Share" on page 10 of this press release.
Operating income increased 10% to $1,367 million and operating margin increased 190 basis points to 37.2% compared to the prior year period. Operating income, adjusted for certain items increased $75 million, or 6%, and operating margin, adjusted for certain items, increased 60 basis points to 38.0%, each compared to the prior year period. These metrics primarily reflect strong organic revenue growth, partially offset by expense growth and investments in long-term growth.
Interest income was flat compared to the prior year period. Interest expense increased $12 million to $91 million compared to the prior year period, reflecting higher outstanding term debt. Other pension expense was $3 million, compared to $6 million of income in the prior year period. Other income was $28 million, compared to $8 million of Other expense in the prior year period, primarily reflecting a gain on sale of a business in Wealth Solutions.
Conference Call, Presentation Slides and Webcast Details
The Company will host a conference call on Friday, April 29, 2022 at 7:30 a.m., central time. Interested parties can listen to the conference call via a live audio webcast and view the presentation slides at www.aon.com.
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.
Follow Aon on Twitter and LinkedIn. Stay up-to-date by visiting the Aon Newsroom and sign up for News Alerts here.
Safe Harbor Statement
This communication contains certain statements related to future results, or states Aon's intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. These forward-looking statements include information about possible or assumed future results of Aon's operations and the uncertainty surrounding the COVID-19 pandemic. All statements, other than statements of historical facts that address activities, events or developments that Aon expects or anticipates may occur in the future, including such things as its outlook, future capital expenditures, growth in commissions and fees, changes to the composition or level of its revenues, cash flow and liquidity, expected tax rates, business strategies, competitive strengths, goals, the benefits of new initiatives, growth of its business and operations, plans, and references to future successes, are forward-looking statements. Also, when Aon uses the words such as "anticipate", "believe", "continue", "could", "estimate", "expect", "forecast", "intend", "looking forward", "may", "might", "plan", "potential" "probably", "project", "should", "will", "would" or similar expressions, it is making forward-looking statements.
The following factors, among others, could cause actual results to differ from those set forth in or anticipated by the forward looking statements: changes in the competitive environment or damage to Aon's reputation; fluctuations in currency exchange, interest, or inflation rates that could impact our financial condition or results; changes in global equity and fixed income markets that could affect the return on invested assets; changes in the funded status of Aon's various defined benefit pension plans and the impact of any increased pension funding resulting from those changes; the level of Aon's debt and the terms thereof reducing Aon's flexibility or increasing borrowing costs; rating agency actions that could limit Aon's access to capital and our competitive position; volatility in Aon's global tax rate due to being subject to a variety of different factors, including U.S. tax reform; changes in Aon's accounting estimates or assumptions on Aon's financial statements; limits on Aon's subsidiaries' ability to pay dividends or otherwise make payments to Aon; the impact of of legal proceedings and other contingencies, including those arising from acquisition or disposition transactions, errors and omissions and other claims against Aon; the impact of, and potential challenges in complying with, laws and regulations in the jurisdictions in which Aon operates, particularly given the global nature of Aon's operations and the possibility of differing or conflicting laws and regulations, or the application or interpretation thereof, across jurisdictions in which Aon does business; the impact of any regulatory investigations brought in Ireland, the U.K., the U.S. and other countries; failure to protect intellectual property rights or allegations that Aon infringes on the intellectual property rights of others; general economic and political conditions in different countries in which Aon does business around the world, including the withdrawal of the U.K. from the European Union; the failure to retain, attract and develop experienced and qualified personnel; international risks associated with Aon's global operations, including impacts from military conflicts or political instability, such as the ongoing Russian war in Ukraine; the effects of natural or man-made disasters, including the effects of the COVID-19 and other health pandemics and the impacts of climate change; any system or network disruption or breach resulting in operational interruption or improper disclosure of confidential, personal, or proprietary data, and resulting damage to our reputation; Aon's ability to develop, implement, update and enhance new technology; the actions taken by third parties that perform aspects of Aon's business operations and client services; the extent to which Aon is exposed to certain risks, including lawsuits, related to actions Aon may take in being responsible for making decisions on behalf of clients in Aon's investment consulting business or in other advisory services that Aon currently provides, or may provide in the future; Aon's ability to continue, and the costs and risks associated with, growing, developing and integrating acquired business, and entering into new lines of business or products; Aon's ability to secure regulatory approval and complete transactions, and the costs and risks associated with the failure to consummate proposed transactions; changes in commercial property and casualty markets, commercial premium rates or methods of compensation; Aon's ability to implement initiatives intended to yield cost savings, and the ability to achieve those cost savings; the effects of Irish law on Aon's operating flexibility and the enforcement of judgments against Aon; adverse effects on the market price of Aon's securities and/or operating results.
Any or all of Aon's forward-looking statements may turn out to be inaccurate, and there are no guarantees about Aon's performance. The factors identified above are not exhaustive. Aon and its subsidiaries operate in a dynamic business environment in which new risks may emerge frequently. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. In addition, results for prior periods are not necessarily indicative of results that may be expected for any future period, particularly in light of the continuing effects of the COVID-19 pandemic. Further information concerning Aon and its businesses, including factors that potentially could materially affect Aon's financial results, is contained in Aon's filings with the SEC. See Aon's Annual Report on Form 10-K for the year ended December 31, 2021 for a further discussion of these and other risks and uncertainties applicable to Aon and its businesses. These factors may be revised or supplemented in subsequent reports filed with the SEC. Aon is not under, and expressly disclaims, any obligation to update or alter any forward-looking statement that it may make from time to time, whether as a result of new information, future events or otherwise.
Explanation of Non-GAAP Measures
This communication includes supplemental information not calculated in accordance with generally accepted accounting principles in the United States ("U.S. GAAP"), including organic revenue growth, free cash flow, adjusted operating income, adjusted operating margin, and adjusted earnings per share that exclude the effects of intangible asset amortization and impairment, capital expenditures, and certain other noteworthy items that affected results for the comparable periods. Organic revenue growth includes the impact of intercompany activity and excludes foreign exchange rate changes, acquisitions, divestitures, transfers between revenue lines, fiduciary investment income, and gains or losses on derivatives accounted for as hedges. Currency impact is determined by translating last year's revenue, expense, or net income at this year's foreign exchange rates. Reconciliations to the closest U.S. GAAP measure for each non-GAAP measure presented in this communication are provided in the attached appendices. Supplemental organic revenue growth information and additional measures that exclude the effects of certain items noted above do not affect net income or any other U.S. GAAP reported amounts. Free cash flow is cash flows from operating activity less capital expenditures. The adjusted effective tax rate excludes the applicable tax impact associated with expenses for estimated intangible asset amortization and impairment, and certain other noteworthy items. Management believes that these measures are important to make meaningful period-to-period comparisons and that this supplemental information is helpful to investors. Non-GAAP measures should be viewed in addition to, not in lieu of, Aon's Condensed Consolidated Financial Statements. Industry peers provide similar supplemental information regarding their performance, although they may not make identical adjustments.
View original content:
SOURCE Aon plc | https://www.whsv.com/prnewswire/2022/04/29/aon-reports-first-quarter-2022-results/ | 2022-04-29T11:22:22Z |
Published: Apr. 29, 2022 at 6:00 AM EDT|Updated: 1 hour ago
Solidifies Position as Leading Integrated Logistics Company and Delivers Record Profitability
First quarter 2022 revenue of $1.3 billion increased 61.0 percent over first quarter 2021.
Net income improved to $69.6 million, or $2.68 per diluted share. On a non-GAAP basis, first quarter 2022 net income was $79.8 million, or $3.08 per diluted share.
Continued significant investments in technology, customer solutions and people to drive revenue growth.
FORT SMITH, Ark., April 29, 2022 /PRNewswire/ -- ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, today reported first quarter 2022 revenue of $1.3 billion, reflecting an increase of $505.9 million compared to first quarter 2021. Each of ArcBest's operating segments achieved double-digit percentage revenue growth over the prior year period. First quarter 2022 results include the impact of the acquisition of MoLo Solutions, LLC ("MoLo"), which was completed in November 2021.
ArcBest's first quarter 2022 operating income was $94.9 million and net income was $69.6 million, or $2.68 per diluted share, compared to operating income of $32.2 million and net income of $23.4 million, or $0.87 per diluted share, in the first quarter of 2021.
Excluding certain items in both periods as identified in the attached reconciliation tables, first quarter non-GAAP operating income was $108.6 million, compared to $40.8 million in the prior-year period. On a non-GAAP basis, net income was $79.8 million, or $3.08 per diluted share, compared to $28.5 million, or $1.06 per diluted share, in the first quarter of 2021.
"Our outstanding first quarter results, including record profitability, demonstrate our success in transforming ArcBest and positioning it as one of the country's leading integrated logistics companies," said Judy R. McReynolds, ArcBest chairman, president and CEO. "Our strategy is working, underscored by improved operating margins across the business, and we are aggressively investing in our vision to ensure we continue innovating, developing our talent, enhancing our ability to serve customers and driving incremental revenue growth. As announced yesterday, our strong cash flow allows us to return more capital to shareholders by increasing both our share repurchase program and our dividend. We are confident our talented team is poised to execute on our clearly defined strategy, which will accelerate our growth trajectory while positioning ArcBest to operate even more efficiently and consistently for years to come."
First Quarter Results of Operations Comparisons
Asset-Based
First Quarter 2022 Versus First Quarter 2021
Revenue of $705.3 million compared to $556.3 million, a per-day increase of 25.8 percent.
Total tonnage per day increase of 3.6 percent, including an increase of 0.9 percent in LTL-rated weight per shipment.
Total shipments per day increased 0.2 percent.
Total billed revenue per hundredweight increased 21.1 percent and was positively impacted by higher fuel surcharges. Revenue per hundredweight on LTL-rated business, excluding fuel surcharge, improved by a percentage in the double digits.
Operating income of $80.0 million compared to $30.1 million. On a non-GAAP basis, operating income of $87.0 million compared to $36.9 million.
Strength in the pricing environment and an increase in ABF Freight's average weight per shipment both contributed to strong first quarter revenue growth in ArcBest's Asset-Based business versus the prior year period. Despite inflationary pressures, customer demand and market rates remained solid and ArcBest continued to deliver on the increasing supply chain needs of its customers through customized logistics solutions. Freight trends with ArcBest's core LTL customers were also positive throughout the quarter while activities designed to optimize revenue, network balance, freight mix and shipments resulted in more efficient utilization of labor and network resources, and improved profitability. Asset-Based hiring initiatives were successful, contributing to ABF Freight adding over 600 new employees across key locations during the quarter.
Asset-Light‡
First Quarter 2022 Versus First Quarter 2021 (including the results of MoLo)
Revenue of $673.7 million compared to $311.5 million, a per-day increase of 114.6 percent.
Operating income of $22.8 million compared to $9.3 million. On a non-GAAP basis, operating income of $26.9 million compared to $10.2 million.
Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") of $29.3 million compared to $12.1 million, as detailed in the attached non-GAAP reconciliation tables.
Enhanced customer demand and higher market rates drove strong first quarter revenue growth and record profitability in the ArcBest Asset-Light segment. The integration of MoLo and related synergy realization remains on schedule and is progressing as expected, contributing to increases in truckload brokerage revenue and business levels over the same period last year. In addition, supply chain solutions offered through managed transportation, expedite and international services were meaningful contributors to the enhanced financial results of the Asset–Light business. The higher operating income reflects increased revenue and effective cost management, which also resulted in greater operating leverage.
At FleetNet, increases in total events and revenue per event contributed to growth in total revenue and profitability compared to the prior year period.
NOTE
‡ - The ArcBest and FleetNet reportable segments, combined, represent Asset-Light operations.
Conference Call
ArcBest will host a conference call with company executives to discuss the 2022 first quarter results. The call will be today, Friday, April 29, at 9:30 a.m. EDT (8:30 a.m. CDT). Interested parties are invited to listen by calling (800) 891-9945 or by joining the webcast which can be found on ArcBest's website at arcb.com. Slides to accompany this call are included in Exhibit 99.3 of the Form 8-K filed on April 29, 2022, will be posted and available to download on the company's website prior to the scheduled conference time, and will be included in the webcast. Following the call, a recorded playback will be available through the end of the day on June 15, 2022. To listen to the playback, dial (800) 633–8284 or (402) 977–9140 (for international callers). The conference call ID for the playback is 22017045. The conference call and playback can also be accessed, through June 15, 2022, on ArcBest's website at arcb.com.
About ArcBest
ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with nearly 15,000 employees across more than 250 campuses and service centers, the company is a logistics powerhouse, fueled by the simple notion of finding a way to get the job done. Through innovative thinking, agility and trust, ArcBest leverages their full suite of shipping and logistics solutions to meet customers' critical needs, each and every day. For more information, visit arcb.com.
The following is a "safe harbor" statement under the Private Securities Litigation Reform Act of 1995: Certain statements and information in this press release concerning results for the three months ended March 31, 2022 may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding (i) our expectations about our intrinsic value or our prospects for growth and value creation and (ii) our financial outlook, position, strategies, goals, and expectations. Terms such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "foresee," "intend," "may," "plan," "predict," "project," "scheduled," "should," "would," and similar expressions and the negatives of such terms are intended to identify forward-looking statements. These statements are based on management's beliefs, assumptions, and expectations based on currently available information, are not guarantees of future performance, and involve certain risks and uncertainties (some of which are beyond our control). Although we believe that the expectations reflected in these forward-looking statements are reasonable as and when made, we cannot provide assurance that our expectations will prove to be correct. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in these statements due to a number of factors, including, but not limited to: the effects of widespread outbreak of an illness or disease, including the COVID-19 pandemic, or any other public health crisis, as well as regulatory measures implemented in response to such events; external events which may adversely affect us or the third parties who provide services for us, for which our business continuity plans may not adequately prepare us, including acts of war or terrorism or military conflicts; a failure of our information systems, including disruptions or failures of services essential to our operations or upon which our information technology platforms rely, data breach, and/or cybersecurity incidents; interruption or failure of third-party software or information technology systems or licenses; untimely or ineffective development and implementation of, or failure to realize potential benefits associated with, new or enhanced technology or processes, including the pilot test program at ABF Freight; the loss or reduction of business from large customers; the ability to manage our cost structure, and the timing and performance of growth initiatives; the cost, integration, and performance of any recent or future acquisitions, including the acquisition of MoLo Solutions, LLC, and the inability to realize the anticipated benefits of the acquisition within the expected time period or at all; market fluctuations and interruptions affecting the price of our stock or the price or timing of our share repurchase programs; maintaining our corporate reputation and intellectual property rights; nationwide or global disruption in the supply chain increasing volatility in freight volumes; competitive initiatives and pricing pressures; increased prices for and decreased availability of new revenue equipment, decreases in value of used revenue equipment, and higher costs of equipment-related operating expenses such as maintenance, fuel, and related taxes; availability of fuel, the effect of volatility in fuel prices and the associated changes in fuel surcharges on securing increases in base freight rates, and the inability to collect fuel surcharges; relationships with employees, including unions, and our ability to attract, retain, and develop employees; unfavorable terms of, or the inability to reach agreement on, future collective bargaining agreements or a workforce stoppage by our employees covered under ABF Freight's collective bargaining agreement; union employee wages and benefits, including changes in required contributions to multiemployer plans; availability and cost of reliable third-party services; our ability to secure independent owner operators and/or operational or regulatory issues related to our use of their services; litigation or claims asserted against us; governmental regulations; environmental laws and regulations, including emissions-control regulations; default on covenants of financing arrangements and the availability and terms of future financing arrangements; self-insurance claims and insurance premium costs; potential impairment of goodwill and intangible assets; general economic conditions and related shifts in market demand that impact the performance and needs of industries we serve and/or limit our customers' access to adequate financial resources; increasing costs due to inflation; seasonal fluctuations and adverse weather conditions; and other financial, operational, and legal risks and uncertainties detailed from time to time in ArcBest Corporation's public filings with the Securities and Exchange Commission (the "SEC").
For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events, or otherwise.
Financial Data and Operating Statistics
The following tables show financial data and operating statistics on ArcBest® and its reportable segments.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc. | https://www.whsv.com/prnewswire/2022/04/29/arcbest-announces-first-quarter-2022-results/ | 2022-04-29T11:22:28Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/aurinia-pharmaceuticals-inc-loss-submission-form/?id=26479&from=4
The lawsuit seeks to recover losses for shareholders who purchased Aurinia Pharmaceuticals Inc. between May 7, 2021 and February 25, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 14, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Aurinia Pharmaceuticals Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) Aurinia was experiencing declining revenues; (ii) Aurinia's 2022 sales outlook for the Company's only product which it offers for the treatment of adult patients with active lupus nephritis, LUPKYNIS, would fall well short of expectations; (iii) accordingly, the Company had significantly overstated LUPKYNIS's commercial prospects; (iv) as a result, the Company had overstated its financial position and/or prospects for 2022; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/auph-shareholder-alert-jakubowitz-law-reminds-aurinia-pharmaceuticals-inc-shareholders-lead-plaintiff-deadline-june-14-2022/ | 2022-04-29T11:22:35Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings (NYSE: BKKT).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/bakkt-holdings-inc-f-k-a-vpc-impact-acquisition-holdings-loss-submission-form/?id=26482&from=4
This lawsuit is on behalf of persons and entities that purchased or otherwise acquired: (a) Bakkt securities between March 31, 2021 and November 19, 2021, both dates inclusive; and/or (b) Bakkt Class A common stock pursuant and/or traceable to documents issued in connection with the business combination between the Company and Bakkt Holdings, LLC completed on or about October 15, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 20, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company had defective financial controls; (ii) as a result, there were errors in the Company's financial statements related to the misclassification of certain shares issued prior to the business combination between the Company and Bakkt Holdings, LLC; (iii) accordingly, the Company would need to restate certain of its financial statements; (iv) the Company downplayed the true scope and severity of these issues; (v) the Company overstated its remediation of its defective financial controls; and (vi) as a result, the documents issued in connection with the business combination and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/bkkt-shareholder-alert-jakubowitz-law-reminds-bakkt-holdings-inc-fka-vpc-impact-acquisition-holdings-shareholders-lead-plaintiff-deadline-june-20-2022/ | 2022-04-29T11:22:47Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Cabaletta Bio, Inc. (NASDAQ: CABA).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/cabaletta-bio-inc-loss-submission-form/?id=26462&from=4
This lawsuit is on behalf of persons and entities that purchased or otherwise acquired: (a) Cabaletta common stock pursuant and/or traceable to documents issued in connection with the Company's initial public offering conducted on or about October 24, 2019; and/or (b) Cabaletta securities between October 24, 2019 and December 13, 2021, both dates inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until April 29, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Cabaletta Bio, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) top-line data of the Phase 1 Clinical Trial indicated that Cabaletta's lead product candidate, DSG3-CAART, had, among other things, worsened certain participants' disease activity scores and necessitated additional systemic medication to improve disease activity after DSG3-CAART infusion; (ii) accordingly, DSG3-CAART was not as effective as the Company had represented to investors; (iii) therefore, the Company had overstated DSG3-CAART's clinical and/or commercial prospects; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/caba-shareholder-alert-jakubowitz-law-reminds-cabaletta-shareholders-lead-plaintiff-deadline-april-29-2022/ | 2022-04-29T11:22:54Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Celsius Holdings, Inc. (NASDAQ: CELH).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/celsius-holdings-inc-loss-submission-form/?id=26469&from=4
The lawsuit seeks to recover losses for shareholders who purchased Celsius between August 12, 2021 and March 1, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 16, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Celsius Holdings, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company had improperly recorded expenses for non-cash share-based compensation for second and third quarters of 2021; (2) as a result, the Company's financial statements for those periods would be restated, including to report a net loss for the third quarter of 2021; (3) there was a material weakness in Celsius's internal controls over financial reporting; and (4) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/celh-shareholder-alert-jakubowitz-law-reminds-celsius-shareholders-lead-plaintiff-deadline-may-16-2022/ | 2022-04-29T11:23:02Z |
DENVER, April 29, 2022 /PRNewswire/ -- Today, the Clough Global Dividend and Income Fund (NYSE MKT: GLV) (the "Fund"), a closed-end fund, paid a monthly distribution on its common stock of $0.0906 per share to shareholders of record at the close of business on April 19, 2022.
The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. The Fund estimates the following percentages, of the total distribution amount per share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) return of capital or other capital source as a percentage of the total distribution amount. These percentages are disclosed for the current distribution as well as the fiscal year-to-date cumulative distribution amount per share for the Fund.
The amounts and sources of distributions reported in this 19(a) Notice are only estimates and not for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income.'
Presented below are return figures, based on the change in the Fund's Net Asset Value per share ("NAV"), compared to the annualized distribution rate for this current distribution as a percentage of the NAV on the last business day of the month prior to distribution record date.
Fund Performance & Distribution Information
Past performance is not indicative of future results.
^ Based on the Fund's NAV as of March 31, 2022.
+Cumulative distribution rate is based on distributions paid to date for the period November 1, 2021 through April 29, 2022.
*Cumulative fiscal year-to-date return is based on the change in NAV including distributions paid and assuming reinvestment of these distributions and that all rights in the Fund's rights offering were exercised, for the period November 1, 2021 through March 31, 2022.
**The 5 year average annual total return is based on change in NAV including distributions paid and assuming reinvestment of these distributions and that all rights in the Fund's rights offering were exercised, as of the last business day of the month prior to the month of the current distribution record date.
While the NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market.
Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan.
Furthermore, the Board of Trustees reviews the amount of any potential distribution and the income, capital gain or capital available. The Board of Trustees will continue to monitor the Fund's distribution level, taking into consideration the Fund's net asset value and the financial market environment. The Fund's distribution policy is subject to modification by the Board of Trustees at any time. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
ALPS Portfolio Solutions Distributor, Inc. FINRA Member Firm.
Clough Global Dividend and Income Fund (NYSE MKT: GLV)
1290 Broadway, Suite 1000
Denver, CO 80203
View original content to download multimedia:
SOURCE Clough Global Dividend and Income Fund | https://www.whsv.com/prnewswire/2022/04/29/clough-global-dividend-income-fund-section-19a-notice-statement-pursuant-section-19a-investment-company-act-1940/ | 2022-04-29T11:23:09Z |
DENVER, April 29, 2022 /PRNewswire/ -- Today, the Clough Global Equity Fund (NYSE-MKT: GLQ) (the "Fund"), a closed-end fund, paid a monthly distribution on its common stock of $0.1162 per share to shareholders of record at the close of business on April 19, 2022.
The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. The Fund estimates the following percentages, of the total distribution amount per share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) return of capital or other capital source as a percentage of the total distribution amount. These percentages are disclosed for the current distribution as well as the fiscal year-to-date cumulative distribution amount per share for the Fund.
The amounts and sources of distributions reported in this 19(a) Notice are only estimates and not for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Presented below are return figures, based on the change in the Fund's Net Asset Value per share ("NAV"), compared to the annualized distribution rate for this current distribution as a percentage of the NAV on the last business day of the month prior to distribution record date.
Past performance is not indicative of future results.
^ Based on the Fund's NAV as of March 31, 2022.
+Cumulative distribution rate is based on distributions paid to date for the period November 1, 2021 through April 29, 2022.
*Cumulative fiscal year-to-date return is based on the change in NAV including distributions paid and assuming reinvestment of these distributions and that all rights in the Fund's rights offering were exercised, for the period November 1, 2021 through March 31, 2022.
**The 5 year average annual total return is based on change in NAV including distributions paid and assuming reinvestment of these distributions and that all rights in the Fund's rights offering were exercised, as of the last business day of the month prior to the month of the current distribution record date.
While the NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market.
Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan.
Furthermore, the Board of Trustees reviews the amount of any potential distribution and the income, capital gain or capital available. The Board of Trustees will continue to monitor the Fund's distribution level, taking into consideration the Fund's net asset value and the financial market environment. The Fund's distribution policy is subject to modification by the Board of Trustees at any time. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
ALPS Portfolio Solutions Distributor, Inc. FINRA Member Firm.
Clough Global Equity Fund (NYSE-MKT: GLQ)
1290 Broadway, Suite 1000
Denver, CO 80203
View original content to download multimedia:
SOURCE Clough Global Equity Fund | https://www.whsv.com/prnewswire/2022/04/29/clough-global-equity-fund-section-19a-notice-statement-pursuant-section-19a-investment-company-act-1940/ | 2022-04-29T11:23:19Z |
DENVER, April 29, 2022 /PRNewswire/ -- Today, the Clough Global Opportunities Fund (NYSE MKT: GLO) (the "Fund"), a closed-end fund, paid a monthly distribution on its common stock of $0.0943 per share to shareholders of record at the close of business on April 19, 2022.
The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. The Fund estimates the following percentages, of the total distribution amount per share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) return of capital or other capital source as a percentage of the total distribution amount. These percentages are disclosed for the current distribution as well as the fiscal year-to-date cumulative distribution amount per share for the Fund.
The amounts and sources of distributions reported in this 19(a) Notice are only estimates and not for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Presented below are return figures, based on the change in the Fund's Net Asset Value per share ("NAV"), compared to the annualized distribution rate for this current distribution as a percentage of the NAV on the last business day of the month prior to distribution record date.
Fund Performance & Distribution Information
Past performance is not indicative of future results.
^ Based on the Fund's NAV as of March 31, 2022.
+Cumulative distribution rate is based on distributions paid to date for the period November 1, 2021 through April 29, 2022.
*Cumulative fiscal year-to-date return is based on the change in NAV including distributions paid and assuming reinvestment of these distributions and that all rights in the Fund's rights offering were exercised, for the period November 1, 2021 through March 31, 2022.
**The 5 year average annual total return is based on change in NAV including distributions paid and assuming reinvestment of these distributions and that all rights in the Fund's rights offering were exercised, as of the last business day of the month prior to the month of the current distribution record date.
While the NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market.
Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan.
Furthermore, the Board of Trustees reviews the amount of any potential distribution and the income, capital gain or capital available. The Board of Trustees will continue to monitor the Fund's distribution level, taking into consideration the Fund's net asset value and the financial market environment. The Fund's distribution policy is subject to modification by the Board of Trustees at any time. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
ALPS Portfolio Solutions Distributor, Inc. FINRA Member Firm.
Clough Global Opportunities Fund (NYSE MKT: GLO)
1290 Broadway, Suite 1000
Denver, CO 80203
View original content to download multimedia:
SOURCE Clough Global Opportunities Fund | https://www.whsv.com/prnewswire/2022/04/29/clough-global-opportunities-fund-section-19a-notice-statement-pursuant-section-19a-investment-company-act-1940/ | 2022-04-29T11:23:26Z |
This asset is part of the $150M CONTI RE High-Growth Fund IV
ORLANDO, Fla., April 29, 2022 /PRNewswire/ -- Dallas-based CONTI Capital, a real estate investment company providing capital solutions to acquire, manage, and sponsor real estate investments across the U.S., has acquired Alta Winter Garden, a 250-unit newly constructed, institutional-quality asset located at 1223 E Plant St, Winter Garden, FL 34787.
Just west of Orlando, Winter Garden is nestled against Lake Apopka and offers a quiet lifestyle within convenient reach of top employers, Orlando International Airport, and major entertainment such as Walt Disney World and Universal Studios.
"The CONTI Index, CONTI Capital's proprietary market evaluation tool, has idenitified the Orlando market as one of the top 10 multifamily markets to watch in 2022," says Carlos Vaz, CEO of CONTI Capital. "The Index analyzes hundreds of weighted indicators across six primary factors and has been key to our strategic expansion. To better support this growth and our investors, CONTI has recently opened a new office in Miami, Florida."
Alta Winter Garden is CONTI's next asset in its $150M RE High-Growth Fund IV. The Fund will seek a target return of 10-14% ROI with a 3-5-year hold period. It is structured as a private offering for accredited investors, wealth managers, and institutions.
About CONTI Capital
Founded in 2008, CONTI is a real estate investment company, investing capital on behalf of individuals, wealth managers, and institutions. Our mission is to create outstanding value for our investors through an active stewardship of their capital. We provide capital solutions to acquire, manage, and sponsor real estate investments across the U.S. Our efforts are backed by years of industry experience, strong company culture, and a relentless drive to perform. In order to better serve our clients, CONTI has offices in Dallas, Miami, and Sao Paulo, Brazil. Learn more at www.conticapital.com.
Forward-Looking Statements
Some of the statements contained in this press release are forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. There is no guarantee that any investment will achieve its objectives, generate profits, or avoid losses. These statements involve known and unknown risks, uncertainties, and other factors that may cause an investment's actual results, levels of activity, performance, or achievements to be materially and adversely different from those expressed or implied by these forward-looking statements. Forward-looking statements may be identified by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "targeted," "projected," "underwritten," "estimates," "predicts," "potential," or "continue" or the negative of these terms or other comparable terminology.
Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, guarantees of future results, levels of activity, performance or achievements cannot be made. Moreover, neither the Company nor any other person or entity assumes responsibility for the accuracy and completeness of forward-looking statements. Neither the Company nor any other person or entity is under any duty to update any of the forward-looking statements to conform them to actual results. This overview is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any interests in CONTI RE High-Growth Fund IV (the "Fund") or any other securities, which can only be made pursuant to the Fund's Private Placement Memorandum. Investment in the Fund is suitable only for sophisticated investors who fully understand, and are willing to assume, the risks involved in an investment in the Fund, including the risk of total loss of an investor's capital. Past performance is not a guide to future performance.
View original content to download multimedia:
SOURCE CONTI Capital | https://www.whsv.com/prnewswire/2022/04/29/conti-capital-expands-fund-iv-footprint-with-multifamily-acquisition-orlando-florida/ | 2022-04-29T11:23:37Z |
STOCKHOLM, April 29, 2022 /PRNewswire/ --
Highlights of the first quarter of 2022
- Net sales increased to SEK 30,118m (29,026), corresponding to an organic sales decline of 3.4%. This was driven by lower volumes compared to a strong last year, partially offset by strong price execution.
- Operating income amounted to SEK 1,575m (2,297), corresponding to a margin of 5.2% (7.9).
- Operating income includes a positive non-recurring item of SEK 656m, related to the U.S. tariff case, impacting the business area North America. Excluding this non-recurring item, operating income amounted to SEK 919m, corresponding to a margin of 3.1% (7.9). Significant cost increases and supply constraints impacting volume were not fully compensated by price increases and new product launches.
- Income for the period amounted to SEK 950m (1,556) and earnings per share was SEK 3.40 (5.41).
- Operating cash flow after investments was SEK -5,280m (-161). In addition to a more normal seasonal outflow compared to last year, global supply chain constraints further increased inventory levels.
President and CEO Jonas Samuelson's comment
The beginning of the year has been dominated by the terrible situation in Ukraine, which also contributed to the already escalating cost inflation and supply instability. At the same time, we have entered our most launch-intensive period ever. I am very pleased with the strong consumer demand for our new and innovative premium products.
In the first quarter, supply chain constraints continued to significantly impact our production and sales volumes, particularly of higher featured products. As anticipated, the constraints also resulted in substantial costs for express logistics and spot buys. In addition, this supply situation further increased inventory levels, which negatively impacted cash flow. We are collaborating closely with our suppliers to mitigate these constraints, but we estimate that the second quarter will be as challenging as the first quarter, with significant risks of disruptions relating to the resurgence of the coronavirus in China. We expect sequential improvements from mid-2022.
In the first quarter, organic sales declined by 3.4% and operating margin excl. non-recurring items was 3.1%.
We have continued to implement list price increases in all regions during the quarter to offset the accelerating inflationary pressures, with a cumulative year-over-year impact of over 8% and are continuously implementing further increases. In the increasingly inflationary environment, price increases are now more accepted in the market. For the full year, we remain confident that price will fully offset cost inflation, as it has done for the past four years.
The recent geopolitical tensions, inflation soaring to historically high levels, global supply chain constraints and uncertainty regarding the coronavirus pandemic are leading to limited visibility for the rest of the year. We revise our regional market demand outlook for the 2022 full year in North America, mainly driven by supply constraints, and in Europe, due to lower consumer confidence. However, we still expect demand in these regions to be above pre-pandemic levels.
Russia's invasion of Ukraine is a serious violation of international law. We are very concerned about the geopolitical situation and the suffering that the invasion is causing our employees and the people of Ukraine. There is an urgent need to help, and we have focused our efforts on supporting the International Red Cross' humanitarian response in Ukraine. When the war commenced, we paused our operations in Russia and Belarus. In Ukraine, both sales and production in the factory, located in the western part of Ukraine, were halted. After careful risk assessment, limited sales and production in Ukraine re-started during the second half of April. In 2021, Russia, Belarus and Ukraine represented approximately 2% of Group net sales.
Our ability to adapt quickly and successfully to a changing environment, as demonstrated during the past two years, will continue to be instrumental. It is a confirmation that we have the right strategy and culture to respond quickly to challenges and seize opportunities.
As one of the leading players in our industry we have a major responsibility to ensure that our investments contribute to the Paris Agreement's goal of limiting global warming to 1.5°C. A great example is the recent investment in the production facility at Anderson. In addition to increased efficiency as well as an attractive product offering, the investment has resulted in a significant reduction of the climate footprint.
A telephone conference is held at 09.00 CET today, April 29. Jonas Samuelson, President and CEO and Therese Friberg, CFO will comment on the report.
Details for participation by telephone
Sweden: +46 8 56 61 84 67
UK: +44 8 44 48 19 752
U.S.: +1 646 741 3167
International: +44 2071 928 338
Pin/Passcode: 6044078
Slide presentation for download
Link to webcast
CONTACT:
For further information, please contact:
Sophie Arnius, Head of Investor Relations +46 70 590 80 72
Rupini Bergström, Electrolux Press Hotline, +46 8 657 65 07
This is information that AB Electrolux is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on April 29, 2022.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE Electrolux | https://www.whsv.com/prnewswire/2022/04/29/electrolux-q1-2022-interim-report-consistent-execution-challenging-environment/ | 2022-04-29T11:23:44Z |
STOCKHOLM, April 29, 2022 /PRNewswire/ -- The Board of Directors in AB Electrolux has resolved to repurchase a maximum of 8,000,000 own series B shares on Nasdaq Stockholm during the period May 2, 2022 up to and including October 21, 2022 for a total maximum amount of SEK 1,250 million
Following the review of its' capital structure, communicated on July 19, 2021, the Board has decided to utilize the authorization granted by the AGM held on March 30, 2022 by launching a share buyback program for the period May - October 2022. The previous share buyback program was executed between October 28, 2021, and February 3, 2022.
The Board has previously communicated its intention to buy back shares over several years with the objective to further optimize the company's capital structure through subsequent share cancellations. The program of SEK 1,250 million is the first step to reach the aim of share buybacks amounting to approximately SEK 2.5 billion until the next AGM, as was announced in the Q4 report for 2021.
The share buyback program will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation"). The share buyback program will be managed by Citigroup Global Markets Europe AG ("Citigroup") that, based on the trading order given by Electrolux to Citigroup, makes its trading decisions regarding timing of the acquisitions independently of Electrolux.
The share buyback program resolved by the Board of Directors is subject to the following terms:
- Acquisitions may only be effected on Nasdaq Stockholm in accordance with its Rulebook for Issuers of Shares (below the "Rulebook") as well as in accordance with MAR and the Safe Harbour Regulation.
- Acquisitions shall commence no earlier than May 2, 2022 and shall end no later than October 21, 2022.
- Acquisitions may only be effected at a price per share within the prevailing band of prices applying on Nasdaq Stockholm from time to time and in accordance with the restrictions relating to price in the Safe Harbour Regulation. The range of prices pertains to the range between the highest purchase price and the lowest selling price disseminated by Nasdaq Stockholm from time to time.
- Acquisitions may only be effected in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Rulebook and in the Safe Harbour Regulation.
- A maximum of 8,000,000 series B shares may be repurchased for a total maximum amount of SEK 1,250 million. The company's holding of own shares may not at any time exceed 10 per cent of the outstanding shares in the company.
- Payment for the shares shall be made in cash.
The total number of shares in Electrolux is 283,077,393, of which 8,192,348 series A shares and 274,885,045 series B shares. At the time of this press release the company holds 5,049,115 own series B shares.
This is information that AB Electrolux is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.20 CET on April 29,2022.
For further information, please contact:
Sophie Arnius, Investor Relations, +46 70 590 80 72
Paul Palmstedt, Corporate Communications, +46 70 593 92 83
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE Electrolux | https://www.whsv.com/prnewswire/2022/04/29/electrolux-resolves-share-buyback-program-period-may-oct-2022/ | 2022-04-29T11:23:52Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/telefonaktiebolaget-lm-ericsson-loss-submission-form/?id=26464&from=4
The lawsuit seeks to recover losses for shareholders who purchased Telefonaktiebolaget LM Ericsson between April 27, 2017 and February 25, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 2, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Telefonaktiebolaget LM Ericsson issued materially false and/or misleading statements and/or failed to disclose that: (i) Ericsson overstated the extent to which it had reformed its business practices to eliminate the use of bribes to secure business in foreign countries; (ii) Ericsson had paid bribes to the terrorist group the Islamic State in Iraq and Syria to gain access to certain transport routes in Iraq; (iii) accordingly, the Company's revenues derived from its operations in Iraq were, in at least substantial part, derived from unlawful conduct and thus unsustainable; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/eric-shareholder-alert-jakubowitz-law-reminds-telefonaktiebolaget-lm-ericsson-shareholders-lead-plaintiff-deadline-may-2-2022/ | 2022-04-29T11:23:58Z |
The management of SNCF, Caisse de dépôt et placement du Québec (CDPQ), SNCB and Federated Hermes Infrastructure, announce the alliance of Eurostar and Thalys.
BRUSSELS AND PARIS, 29 april 2022 /PRNewswire/ - The first stage of this alliance is the creation of a holding company owned by SNCF (55.75%), CDPQ (19.31%), SNCB (18.5%) and funds managed by Federated Hermes Infrastructure1 (6.44%). The holding company named "Eurostar Group" is based in Brussels and owns 100% of Eurostar International Limited (Eurostar) and THI Factory SA (Thalys), both of which remain fully fledged railway companies with headquarters in London and Brussels respectively.
The shareholders have also appointed Jacques Damas, currently CEO of Eurostar, as CEO of the new entity who will be supported by a symmetric executive committee representing both Eurostar and Thalys.
Initiated in September 2019, the Green Speed alliance project had been temporarily postponed due to the pandemic. Following a relaunch in autumn 2021, the project received approval from the European Commission at the end of March 2022.
The shareholders of Eurostar and Thalys are more convinced than ever that the combination of Eurostar and Thalys will help to meet the growing demand for sustainable mobility by promoting the development of rail transport in Europe. The ambition is to carry 30 million passengers a year within 10 years (compared to 18 million customers in 2019) under a single brand: Eurostar.
This alliance will also accelerate the recovery of Eurostar and Thalys, who have both been hit by the pandemic.
The new entity will offer the largest international high-speed network in Western Europe and aims to implement an ambitious sustainability policy over the next few years.
__________________________________
View original content to download multimedia:
SOURCE Caisse de dépôt et placement du Québec | https://www.whsv.com/prnewswire/2022/04/29/eurostar-thalys-join-forces-lay-foundations-new-european-player-sustainable-high-speed-rail/ | 2022-04-29T11:24:07Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Meta Platforms, Inc. (NASDAQ: FB).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/meta-platforms-inc-loss-submission-form/?id=26467&from=4
The lawsuit seeks to recover losses for shareholders who purchased Meta Platforms, Inc. between March 2, 2021 and February 2, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 9, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Meta Platforms, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) Apple's iOS privacy changes were having a material impact on Meta's ability to provide the kind of targeted advertising that its customers wanted and, as a result, customer ad spending was dropping precipitously; (2) Meta's mitigation efforts were either not properly implemented or ineffective; (3) measurement of ads was not accurate as mitigation efforts were failing; and (4) Meta did not have a plan in place to properly address the impact of the iOS privacy changes.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/fb-shareholder-alert-jakubowitz-law-reminds-meta-platforms-inc-shareholders-lead-plaintiff-deadline-may-9-2022/ | 2022-04-29T11:24:13Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Homology Medicines, Inc. (NASDAQ: FIXX).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/homology-medicines-inc-loss-submission-form/?id=26472&from=4
The lawsuit seeks to recover losses for shareholders who purchased Homology between June 10, 2019 and February 18, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 24, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Homology Medicines, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company had overstated the efficacy and risk mitigation of its lead product candidate, HMI-102; (ii) accordingly, it was unlikely that the Company would be able to commercialize HMI102 in its present form; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/fixx-shareholder-alert-jakubowitz-law-reminds-homology-shareholders-lead-plaintiff-deadline-may-24-2022/ | 2022-04-29T11:24:20Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Grab Holdings Limited (NASDAQ: GRAB).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/grab-holdings-limited-loss-submission-form/?id=26470&from=4
The lawsuit seeks to recover losses for shareholders who purchased Grab Holdings between November 12, 2021 and March 2, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 16, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Grab Holdings Limited issued materially false and/or misleading statements and/or failed to disclose that: (1) Grab's driver supply declined during the third quarter; (2) as a result, Grab continued to invest heavily in driver and consumer incentives to "preemptively recalibrate driver supply"; (3) as a result, the Company's financial results would be adversely impacted, including, among other things, a significant decline in revenue; and (4) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/grab-shareholder-alert-jakubowitz-law-reminds-grab-holdings-shareholders-lead-plaintiff-deadline-may-16-2022/ | 2022-04-29T11:24:28Z |
Thousands of spectators at "Breaking Waves" light-installation at the Elbphilharmonie
HAMBURG, Germany, April 29, 2022 /PRNewswire/ -- Thousands of people gathered on Thursday night to experience the "Breaking Waves" light installation in Hamburg's port. Created by Dutch artist-duo DRIFT, the artwork comprises hundreds of illuminated drones that dance around the night sky of the iconic concert-hall. The event took place just after the opening-concert of the Hamburg International-Music-Festival. The spectacular light-installation was presented on the occasion of the 5-year anniversary of the Elbphilharmonie, Hamburg's new landmark, and will be on show three more times until 1 May (www.elbphilharmonie.de).
- Cross reference: Multimedia content is available at AP Images (http://www.apimages.com) and Presseportal-
Especially for the Elbphilharmonie, Lonneke Gordijn and Ralph Nauta of DRIFT have created a work of art that enhances the building's unique architecture in fascinating ways. With their choreographed swarm of drones outside the building, DRIFT explores the movement of the water that surrounds the concert-hall, and connects that to the sound waves inside the venue. Originally planned to take place in January to mark the Elbphilharmonie's 5th anniversary, the artwork draws inspiration from the second movement of the Piano Concerto by Thomas Adès, the centrepiece of the anniversary-concert on 11 January.
In the short time of its existence, the Elbphilharmonie has completely exceeded all expectations, with a programme of events that stands out internationally for both its quality and diversity. What is more, the Elbphilharmonie has received more public attention worldwide than any other modern cultural building in recent years, with an amazing 3.5 million concert guests enjoying some 3,000 inspiring concerts at the concert-hall since its opening. Over the past years, more than 15 million people have enjoyed the 360-degree panoramic view from the Plaza, the public viewing platform. With these extraordinary figures, Hamburg`s new landmark even outperforms German top tourist destinations such as Neuschwanstein Castle (www.hamburg-travel.com).
Hamburg Tourist Board
Guido Neumann
guido.neumann@marketing.hamburg.de
Phone number: +49(0)40-30051580
View original content:
SOURCE Hamburg Marketing GmbH | https://www.whsv.com/prnewswire/2022/04/29/hamburg-celebrates-its-landmark/ | 2022-04-29T11:24:36Z |
- Sales of $8.4 Billion at High End of Previous Guidance, Down 1% Year Over Year, Up 1% on an Organic Basis
- Earnings Per Share of $1.64, Adjusted Earnings Per Share1 of $1.91, Exceeding High End of Guidance Range
- Deployed $2.0 Billion in Capital, including $1.0 Billion to Share Repurchases as Part of $4 Billion Commitment in 2022
- Company Raises 2022 Adjusted EPS Range and Midpoint of Sales Guidance
CHARLOTTE, N.C., April 29, 2022 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced results for the first quarter that met or exceeded the company's guidance in a challenging operating environment. The company also raised the midpoint of its full-year sales guidance and increased its full-year adjusted earnings per share guidance.
The company reported first quarter organic sales growth of 1%, or 3% excluding the impact of lower COVID-mask volumes. Operating margin contracted by 260 basis points to 15.2% due to a $183 million charge related to the substantial suspension of its operations in Russia, which translated to a loss of approximately $30M in sales in the first quarter. Segment margin expanded by 10 basis points to 21.1%, or 40 basis points excluding the year over year Quantinuum impact, exceeding the high end of the company's guidance range by 10 basis points as a result of the company's commercial excellence efforts. Adjusted earnings per share1 was $1.91, down 1% year over year but one cent above the high end of the company's guidance range.
"Honeywell delivered a strong start to 2022, meeting or exceeding expectations in the first quarter despite considerable new macroeconomic challenges and the ongoing impact of supply chain constraints," said Darius Adamczyk, chairman and chief executive officer of Honeywell. "Organic sales growth was underpinned by double-digit growth in our commercial aviation aftermarket, building products, productivity solutions and services, and advanced materials businesses. Demand remained strong, with orders up 13% year over year and long-cycle orders growth of over 20%, which will help drive growth as we progress through 2022. Closing backlog was $28.5 billion2, up 9% year over year, led by strength in Aero, HBT, and PMT. Our strategic pricing actions allowed us to continue to stay ahead of the inflation curve, enabling us to expand segment margins and exceed the high end of our EPS guidance range. We also continued to leverage our strong balance sheet, deploying $2.0 billion of total capital in the quarter with $1.0 billion allocated to share repurchases as we executed on our updated commitment to buy back $4 billion in shares in 2022. From an M&A perspective, we closed the acquisition of U.S. Digital Designs, a public safety communications hardware and software solutions provider."
Adamczyk continued, "As we look toward the rest of 2022, we are well positioned to navigate the macroeconomic environment and remain confident in our ability to execute on our rigorous operating principles and deliver strong results. We see solid recovery in our key commercial aerospace and energy end markets, and our ongoing investments in areas like our sustainable technology solutions business will provide additional sources of growth. Our operational excellence is enabling us to absorb the impact of external macroeconomic factors, and today I am pleased to announce that we are raising the midpoint of our sales guidance and improving our EPS outlook."
As a result of the company's first-quarter performance and management's outlook for the remainder of the year, full-year sales are now expected to be in the range of $35.5 billion to $36.4 billion, up 4% to 7% organically, or up 6% to 9% excluding the one-point impact of COVID-driven mask sales declines and one-point impact of lost Russian sales. Segment margin expansion3 is expected to be in the range of 10 to 50 basis points, including an approximate (30) basis point impact from investments in the Quantinuum business. Adjusted earnings per share3 is now expected to be in the range of $8.50 to $8.80, up 10 cents on both ends to reflect the updated share repurchase target announced at our investor day. Operating cash flow is expected to be in the range of $5.7 billion to $6.1 billion, and free cash flow is expected to be $4.7 billion to $5.1 billion. A summary of the company's full year guidance changes can be found in Table 1.
"As discussed in our recent investor day, we are turning our focus to the next phase of Honeywell's growth, including driving innovation that builds on our long-standing expertise in controls, automation, and software, as well as successful breakthrough initiatives," Adamczyk concluded. "We are executing on the capital deployment commitments we announced in March, which will help us achieve faster growth and innovation while delivering significant value to our shareholders now and in the future."
First-Quarter Performance
Honeywell sales for the first quarter were down 1% year over year on a reported basis and up 1% year over year on an organic basis. The first-quarter financial results can be found in Tables 2 and 3.
Aerospace sales for the first quarter were up 5% year over year on an organic basis. Both air transport aftermarket and business and general aviation aftermarket sales grew by over 25% in the first quarter as flight hours continued to improve. Commercial original equipment grew double digits in the first quarter as air transport original equipment returned to growth, partially offset by lower volumes in business and general aviation original equipment. Growth in commercial aerospace was partially offset by lower defense volumes. Segment margin contracted 160 basis points in the first quarter to 27.4%, driven by increased sales mix from lower margin original equipment products, cost inflation, and the absence of a one-time gain in 2021, partially offset by favorable pricing.
Honeywell Building Technologies sales for the first quarter were up 8% on an organic basis year over year driven by strength across the building products portfolio, partially offset by lower projects volume. Orders were up double digits as a result of strong demand for fire products and building management systems. Segment margin expanded 100 basis points to 23.5% due to pricing actions and favorable sales mix, partially offset by cost inflation.
Performance Materials and Technologies sales for the first quarter were up 6% on an organic basis year over year despite an approximately 1% headwind from Russia. Sales growth was led by strength across the advanced materials portfolio and demand for thermal solutions and lifecycle solutions and services within process solutions. This growth was partially offset by lower process technologies equipment within UOP. Orders increased double digits year over year, headlined by over 20% growth in process solutions. Segment margin expanded 230 basis points to 20.8% led by favorable pricing and sales mix, partially offset by cost inflation.
Safety and Productivity Solutions sales for the first quarter decreased 15% on an organic basis year over year due to lower personal protective equipment and warehouse automation volume. Excluding the impact of lower COVID-mask volumes, sales decreased by 6% in the quarter. However, productivity solutions and services, advanced sensing technologies, and gas detection sales all grew at double-digit rates in the quarter, highlighting the strength in much of the underlying SPS portfolio. Segment margin expanded 20 basis points to 14.5% led by favorable pricing and sales mix, partially offset by lower volume leverage and cost inflation.
Conference Call Details
Honeywell will discuss its first-quarter results and updated full-year guidance during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. A live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). A replay of the webcast will be available for 30 days following the presentation.
TABLE 1: FULL-YEAR 2022 GUIDANCE3
TABLE 2: SUMMARY OF HONEYWELL FINANCIAL RESULTS
TABLE 3: SUMMARY OF SEGMENT FINANCIAL RESULTS
Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
Honeywell uses our Investor Relations website, www.honeywell.com/investor, as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media.
This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that address activities, events or developments that management intends, expects, projects, believes or anticipates will or may occur in the future. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to risks and uncertainties, including the impact of the COVID-19 pandemic and the Russia-Ukraine conflict, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal commitment, expectation, or prospect set forth in this release can or will be achieved. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows:
- Segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix;
- Segment profit excluding Quantinuum, which we define as segment profit excluding segment profit attributable to Quantinuum;
- Segment margin, on an overall Honeywell basis, which we define as segment profit divided by net sales;
- Segment margin excluding Quantinuum, which we define as segment profit excluding Quantinuum divided by net sales excluding Quantinuum;
- Expansion in segment profit margin percentage, which we define as the year-over-year increase in segment profit margin percentage;
- Expansion in segment profit margin percentage excluding Quantinuum, which we define as the year-over-year increase in segment profit margin percentage excluding Quantinuum;
- Year-over-year segment profit margin percentage impact of Quantinuum, which we define as the difference in expansion in segment profit margin percentage excluding Quantinuum and expansion in segment profit margin percentage;
- Organic sales growth, which we define as net sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date;
- Organic sales growth excluding COVID-Driven Masks, which we define as organic sales excluding any sales attributable to COVID-Driven Masks;
- Organic sales growth excluding COVID-driven mask sales and lost Russian sales, which we define as organic sales growth excluding any sales attributable to COVID-driven mask sales and substantial suspension of operations in Russia;
- Free cash flow, which we define as cash flow from operations less capital expenditures plus cash receipts from Garrett, if and as noted in the release;
- Free cash flow excluding Quantinuum which we define as free cash flow less free cash flow attributable to Quantinuum;
- Adjusted net income attributable to Honeywell, which we define as net income attributable to Honeywell which we adjust to exclude: a charge to reserve against outstanding accounts receivable, contract assets, and impairments of other assets due to the Russia-Ukraine conflict and the gain on the sale of the retail footwear business, if and as noted in the release;
- Adjusted free cash flow conversion, which we define as free cash flow divided by adjusted net income attributable to Honeywell; and
- Adjusted earnings per share, which we adjust to exclude a charge to reserve against outstanding accounts receivable, contract assets, and impairments of other assets due to the Russia-Ukraine conflict, pension mark-to-market, changes in fair value for Garrett equity securities, a non-cash charge associated with the reduction in value of reimbursement receivables following Garrett's emergence from bankruptcy on April 30, 2021, an expense related to UOP matters, gain on the sale of the retail footwear business, if and as noted in the release.
Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain metrics presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures.
We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures, for the first 12 months following the transaction date. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.
We define organic sales growth excluding COVID-driven mask sales as organic sales growth excluding any sales attributable to COVID-driven mask sales. We define organic sales growth excluding COVID-driven mask sales and lost Russian sales as organic sales growth excluding any sales attributable to COVID-driven mask sales and substantial suspension of operations in Russia. We believe organic sales growth excluding COVID-driven mask sales, and organic sales growth excluding COVID-driven mask sales and lost Russian sales are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.
A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change, organic sales percent change excluding COVID-driven masks or organic sales percent change excluding COVID-driven masks and lost Russian sales because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change.
We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We define segment profit excluding Quantinuum as segment profit excluding segment profit attributable to Quantinuum. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.
We define expansion in segment profit margin percentage as the year-over-year increase in segment profit margin percentage. We define expansion in segment profit margin percentage excluding Quantinuum as the year-over-year increase in segment profit margin percentage excluding Quantinuum. We define year-over-year segment profit margin percentage impact of Quantinuum as the difference in expansion in segment profit margin percentage excluding Quantinuum and expansion in segment profit margin percentage. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.
A quantitative reconciliation of segment profit and segment profit excluding the impact of Quantinuum, on an overall Honeywell basis, to operating income has not been provided for all forward-looking measures of segment profit and segment margin included herewithin. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of segment profit to operating income will be included within future filings.
We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change.
We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment plus cash receipts from Garrett. We define adjusted free cash flow conversion as free cash flow divided by adjusted net income attributable to Honeywell.
We believe that free cash flow is a non-GAAP metric that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity.
We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment plus anticipated cash receipts from Garrett. We define free cash flow excluding Quantinuum as free cash flow less free cash flow attributable to Quantinuum.
We believe that free cash flow and free cash flow excluding Quantinuum are non-GAAP metrics that are useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity.
View original content to download multimedia:
SOURCE Honeywell | https://www.whsv.com/prnewswire/2022/04/29/honeywell-delivers-strong-first-quarter-results-adjusted-eps-exceeds-high-end-guidance-range-raises-full-year-adjusted-eps-range-by-10-cents-midpoint-sales-guidance/ | 2022-04-29T11:24:42Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of International Business Machines Corporation (NYSE: IBM).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/international-business-machines-corporation-loss-submission-form/?id=26476&from=4
The lawsuit seeks to recover losses for shareholders who purchased IBM between April 4, 2017 and October 20, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 6, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, International Business Machines Corporation issued materially false and/or misleading statements and/or failed to disclose that: (i) Strategic Imperatives Revenue and growth, CAMSS and CAMSS Components' revenue and growth, and the Company's Segments' revenue and growth were artificially inflated as a result of the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives Revenue; (ii) the Company's present success and positive future growth prospects concerning its Strategic Imperative business strategy were being fueled by the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperative Revenue and, as a result (iii) the Company misled the market by portraying the Company's Strategic Imperative's financial performance and future prospects more favorable than they actually were as a result of the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/ibm-shareholder-alert-jakubowitz-law-reminds-ibm-shareholders-lead-plaintiff-deadline-june-6-2022/ | 2022-04-29T11:24:50Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Innovative Industrial Properties, Inc. (NYSE: IIPR).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/innovative-industrial-properties-inc-loss-submission-form/?id=26484&from=4
The lawsuit seeks to recover losses for shareholders who purchased Innovative Industrial Properties between May 7, 2020 and April 13, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 24, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Innovative Industrial Properties, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) Innovative Industrial Properties' focus is to be a cannabis company lender rather than a REIT; (2) that the true values of the Company's properties are significantly lower than Innovative Industrial Properties represents; (3) there are existential issues in its top customers; (4) as a result, its top customers may not be able to continue making payments to Innovative Industrial Properties and the Company would face significant issues replacing these customers; and (5) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/iipr-shareholder-alert-jakubowitz-law-reminds-innovative-industrial-properties-shareholders-lead-plaintiff-deadline-june-24-2022/ | 2022-04-29T11:24:57Z |
LOS ANGELES, April 29, 2022 /PRNewswire/ -- Intellimedia Networks, Inc., a Los Angeles, CA based immersive solutions technology company, today announced that certain of its IP has been acquired by Frontera Group, Inc. (OTC Pink: FRTG) ("Frontera" or "the Company"), a Dallas, Texas based technology-focused strategic acquirer of revenue-generating companies and intellectual property (IP), as part of its multi-part strategy to make further acquisitions from Intellimedia's suite of technology solutions. This acquisition provides Frontera Group with a cutting-edge mix of media technology, learning platforms, and virtual event broadcasting technologies, positioning FRTG at the forefront of a new wave of immersive technology-powered content for a wide array of customers.
Intellimedia Networks has developed and positioned several multi-million-dollar IP assets focused on media, education, and virtual event broadcasting technologies suited for a variety of market verticals. The IP that Frontera has acquired includes immersive technologies using AR, VR, and interactive experiences that open doors to innovative ways to leverage information-sharing. This form of information sharing provides high-impact, context-sensitive experiences. The 70/20/10 model for learning and development highlights that people learn from job-related experiences, as 70 percent of what people learn is experiential, compared with 20% learned from others and 10% through formal learning. FRTG's acquisition of Intellimedia's IP positions FRTG as a "knowledge enabler" supporting the "70%" of the experiential portion of learning.
"Intellimedia is thrilled with this M&A as our products and solutions are an ideal fit with the value-creation opportunity presented by Frontera. I believe our world-class solutions will continue to deliver exceptional value to customers, employees, and shareholders," said Darshan Sedani, President, and Co-founder of Intellimedia Networks.
"Our acquisition of Intellimedia Networks' IP places Frontera at the leading edge of the metaverse world of augmented reality, virtual reality, and interactive worlds that are poised to generate significant revenue in training and media technology applications. Frontera will participate in expanding a new mode of knowledge-sharing utilizing ROI-proven technologies," said Mr. Andrew De Luna, CPA, MBA, Interim Chief Executive Officer, Chief Financial Officer, and Vice Chairman of FRTG.
"We look forward to the growth and entry into new markets that the Frontera acquisition enables," said Teodros Gessesse, CEO and Co-founder of Intellimedia. "Our primary focus of developing platforms that deliver context-sensitive knowledge and information to our customers in media, training, and virtual event broadcasting will be greatly enhanced as a part of the Frontera Group."
Frontera's acquisition of Intellimedia Networks' IP provides FRTG with access to a broad market play for an accelerated entry into a NASDAQ listing. "We have a strategy to acquire and invest in companies that are the next wave of new technologies with a keen focus on applications that markets require and are ready to buy," said Mr. Mann Yam, Chairman of the Board of FRTG. "Intellimedia Networks has the intellectual property to get us into new and recurring revenue streams across several vertical markets."
About Frontera Group
Frontera Group is a strategic acquirer of intellectual property and revenue-generating companies in the technology and human capital markets. It is developing and executing an aggressive, four-tier acquisition and implementation strategy intended to provide substantial increases in profitability to its acquisitions in industries which possess traditionally low and stagnant EBITDA multiples. The Company has identified and is currently pursuing several revenue-generating acquisition targets.
For further information, please visit Frontera's website at https://frtgtech.com/.
About Intellimedia Networks
Intellimedia Networks is a US and India-based technology company that designs and deploys cloud platforms and applications that create immersive experiences. Intellimedia's award-winning products utilize AR, VR, and AI to enhance media, training, education, virtual event broadcasting, real estate, and other applications. For further information, please visit Intellimedia Networks' website at https://intellimedianetworks.com/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release which are not historical facts may be "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe eFRTG's hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond FRTG's control, will affect actual Results. FRTG undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with FRTG's most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by FRTG.
Intellimedia Networks Press Contact
press@intellimedianetworks.com
LOGO: https://showcase.intellimedianetworks.com/intellimedia-300dpi.jpg
This release was issued through Send2Press®, a unit of Neotrope®. For more information, visit Send2Press Newswire at https://www.Send2Press.com
View original content:
SOURCE IntelliMedia Networks | https://www.whsv.com/prnewswire/2022/04/29/intellimedia-networks-technology-ip-acquired-by-frontera-group/ | 2022-04-29T11:25:05Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Ironnet, Inc. (NYSE: IRNT).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/ironnet-inc-loss-submission-form/?id=26483&from=4
The lawsuit seeks to recover losses for shareholders who purchased Ironnet between September 15, 2021 and December 15, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 21, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Ironnet, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company had materially overstated its business and financial prospects; (ii) the Company was unable to predict the timing of significant customer opportunities which constituted a substantial portion of its publicly- issued FY 2022 financial guidance; (iii) the Company had not established effective disclosure controls and procedures to reasonably ensure its public disclosures were timely, accurate, complete, and not otherwise misleading; and (iv) as a result, the Company's public statements were materially false, misleading, and/or lacked any reasonable basis in fact at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/irnt-shareholder-alert-jakubowitz-law-reminds-ironnet-shareholders-lead-plaintiff-deadline-june-21-2022/ | 2022-04-29T11:25:12Z |
PALO ALTO, Calif., April 29, 2022 /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD), a biopharmaceutical company committed to researching, developing and commercializing transformative therapeutics to treat high prevalence retinal diseases, today announced that presentations of clinical study data on its investigational therapy KSI-301 will be made at two upcoming vision research conferences: the Association for Research in Vision and Ophthalmology (ARVO) 2022 Annual Meeting in Denver, Colorado, and Retina World Congress 2022 in Fort Lauderdale, Florida.
Details of the presentations are as follows:
ARVO:
Title: Efficacy, durability and safety of KSI-301 antibody biopolymer conjugate in wet AMD – Primary results of the Phase 2b/3 DAZZLE study
Presenter: Carl Regillo, M.D., Chief of Retina Service, Wills Eye Hospital / Thomas Jefferson University, Philadelphia, PA
Presentation date and time: May 3, 2022; 6:38 PM EDT
Retina World Congress:
Title: Results of the KSI-301 DAZZLE Neovascular AMD Pivotal Clinical Trial
Presenter: Carl Regillo, M.D., Chief of Retina Service, Wills Eye Hospital / Thomas Jefferson University, Philadelphia, PA
Presentation date and time: May 13, 2022; 5:14 PM EDT
Kodiak plans to post the slides from these presentations on the "Events and Presentations" section of Kodiak's website at http://ir.kodiak.com/ following each presentation.
About KSI-301
KSI-301 is an investigational anti-VEGF therapy built on Kodiak's Antibody Biopolymer Conjugate (ABC) Platform and is designed to maintain potent and effective drug levels in ocular tissues for longer than existing available agents. Kodiak's objective with KSI-301 is to develop a new first-line agent to improve outcomes for patients with retinal vascular diseases and to enable earlier treatment and prevention of vision loss for patients with diabetic eye disease. The KSI-301 clinical program is designed to assess KSI-301's durability, efficacy and safety in wet age-related macular degeneration (wet AMD), diabetic macular edema (DME), retinal vein occlusion (RVO), and non-proliferative diabetic retinopathy (NPDR) without DME through clinical studies run in parallel. The Company's DAYLIGHT pivotal study in patients with treatment-naïve wet AMD, GLEAM and GLIMMER pivotal studies in patients with diabetic macular edema, and the BEACON pivotal study in patients with retinal vein occlusion are anticipated to form the basis of the Company's initial BLA to support potential approval and commercialization in multiple indications and with a full range of labeled and reimbursable dosing frequencies. An additional Phase 3 pivotal study, GLOW, in patients with non-proliferative diabetic retinopathy is also underway. The global KSI-301 clinical program is being conducted at 150+ study sites in more than 10 countries. Kodiak is developing KSI-301 and owns global rights to KSI-301.
About Kodiak Sciences Inc.
Kodiak (Nasdaq: KOD) is a biopharmaceutical company committed to researching, developing and commercializing transformative therapeutics to treat high prevalence retinal diseases. Founded in 2009, we are focused on bringing new science to the design and manufacture of next generation retinal medicines to prevent and treat the leading causes of blindness globally. Our ABC Platform™ uses molecular engineering to merge the fields of antibody-based and chemistry-based therapies and is at the core of Kodiak's discovery engine. Kodiak's lead product candidate, KSI-301, is a novel anti-VEGF antibody biopolymer conjugate being developed for the treatment of retinal vascular diseases including wet age-related macular degeneration, the leading cause of blindness in elderly patients in the developed world, and diabetic eye diseases, the leading cause of blindness in working-age patients in the developed world. Kodiak has leveraged its ABC Platform to build a pipeline of product candidates in various stages of development including KSI-501, our bispecific anti-IL-6/VEGF biopolymer conjugate for the treatment of neovascular retinal diseases with an inflammatory component, and we are expanding our early research pipeline to include ABC Platform based triplet inhibitors for multifactorial retinal diseases such as dry AMD and glaucoma. Kodiak is based in Palo Alto, CA. For more information, please visit www.kodiak.com.
View original content:
SOURCE Kodiak Sciences Inc. | https://www.whsv.com/prnewswire/2022/04/29/kodiak-sciences-announces-presentation-ksi-301-phase-2b3-study-data-wet-amd-upcoming-research-conferences/ | 2022-04-29T11:25:20Z |
Retailer uses store pharmacies, Clinics, and Telehealth to increase access to care
,
/PRNewswire/ -- Kroger Health, the healthcare division of The Kroger Co. Family of Companies (NYSE: KR), urges Americans to remain diligent in seeking proper testing and care for COVID-19. In addition to administering 11 million doses of COVID-19 vaccines to date, the company is supporting the Biden-Harris Administration's "Test to Treat" initiative for patients exhibiting symptoms of COVID-19 at its 225 The Little Clinic locations in
,
,
,
,
,
,
,
, and
. Following a positive test, and if otherwise clinically appropriate, at The Little Clinic
patients will receive their antiviral prescription which may be filled at a Kroger Family pharmacy. Patients may schedule an appointment at
and select, "COVID Viral Test (Test Active Infection)" as the reason for their appointment.
"Test to Treat" is also available across all 50 U.S. states via telehealth services provided by The Little Clinic for those patients with transportation or other access barriers. Patients exhibiting symptoms or concerned with exposure to the COVID-19 virus may use any of the 13 FDA-authorized at-home tests available to participate in an observed self-test with a medical professional. Following a positive test, and if otherwise clinically appropriate, The Little Clinic will provide an antiviral prescription or if negative the patient will be provided an appropriate treatment plan according to diagnosis. Patients may schedule a telehealth appointment by visiting https://kroger.com/health/pharmacy/covid-19-treatment and selecting "COVID Virtual Visit" from the scheduler. The patient must acquire one of the 13 available home test kits in advance of their appointment with most test kits available for online order and delivery.
COVID-19 therapeutics are available at all Kroger Family of Pharmacies, and Kroger Health encourages people to take advantage of these treatments as they may reduce the severity of symptoms and risk of death from infection.
Dr. Marc Watkins, Kroger's Chief Medical Officer explains, "We understand Americans are tired of this virus and its impact on our lives. We are all eager to move forward. However, we owe it to our families, friends, and communities to get tested if symptomatic and seek treatment when appropriate. As always, receiving the manufacturer-recommended doses required for full vaccination and booster doses recommended by age and condition remain our most effective tools in controlling the spread of the disease."
The U.S. COVID-19 Therapeutic Locator updates regularly when locations have product on site:
https://covid-19-therapeutics-locator-dhhs.hub.arcgis.com/
About Kroger Health:
Kroger Health, the healthcare division of The Kroger Co., is one of America's leading retail healthcare organizations, with over 2,200 pharmacies and 220 clinics in 35 states serving more than 14 million customers. Our team of 22,000 healthcare practitioners - from pharmacists and nurse practitioners, to dietitians and technicians – are committed to helping people live healthier lives. We believe in practicing at the top of our licenses and enabling "food as medicine" to help prevent or manage certain diseases. We are dedicated to providing testing and wellness services to help Americans combat the COVID-19 crisis.
About The Kroger Co.
At The Kroger Co. (NYSE: KR), we are Fresh for Everyone™ and dedicated to our Purpose: To Feed the Human Spirit®. We are, across our family of companies, nearly half a million associates who serve over 11 million customers daily through a seamless shopping experience under a variety of banner names. We are committed to creating #ZeroHungerZeroWaste communities by 2025. To learn more about us, visit our newsroom and investor relations site.
View original content to download multimedia:
SOURCE The Kroger Co. | https://www.whsv.com/prnewswire/2022/04/29/kroger-health-reduces-barriers-covid-19-treatment-options-nationwide/ | 2022-04-29T11:25:27Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Lucid Group, Inc. (NASDAQ: LCID).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/lucid-group-inc-loss-submission-form/?id=26474&from=4
This lawsuit is on behalf of a class of all persons and entities who purchased or otherwise acquired Lucid common stock between November 15, 2021, and February 28, 2022, inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 31, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
The filed complaint alleges that defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Lucid's business and operations. Specifically, the Company overstated its production capabilities while concealing that "extraordinary supply chain and logistics challenges" were hampering Lucid's operations. As a result of the defendants' wrongful acts and omissions, and the significant decline in the market value of Lucid's common stock, Lucid investors have suffered significant damages.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/lcid-shareholder-alert-jakubowitz-law-reminds-lucid-shareholders-lead-plaintiff-deadline-may-31-2022/ | 2022-04-29T11:25:34Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (NYSE: LICY).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/li-cycle-holdings-corp-loss-submission-form/?id=26481&from=4
The lawsuit seeks to recover losses for shareholders who purchased Li-Cycle between February 16, 2021 and March 23, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 20, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. issued materially false and/or misleading statements and/or failed to disclose that: (1) Li-Cycle's largest customer, Traxys, is not actually a customer, but merely a broker providing working capital financial to the Company while Traxys tries to sell Li-Cycle's product to end customers; (2) the Company engaged in highly questionable related party transactions; (3) the Company's mark-to-model accounting is vulnerable to abuse and gave a false impression of growth; (4) a significant portion of the Company's reported revenues were derived from simply marking up receivables on products that had not been sold; (5) the Company's gross margins have likely been negative since inception; (6) the Company will require an additional $1 billion of funding to support its planned growth (which is a figure greater than the Company raised via the merger); and (7) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/licy-shareholder-alert-jakubowitz-law-reminds-li-cycle-shareholders-lead-plaintiff-deadline-june-20-2022/ | 2022-04-29T11:25:42Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Lilium N.V. f/k/a Qell Acquisition Corp. (NASDAQ: LILM).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/lilium-n-v-f-k-a-qell-acquisition-corp-loss-submission-form/?id=26480&from=4
The lawsuit seeks to recover losses for shareholders who purchased Lilium N.V. f/k/a Qell Acquisition Corp. between March 30, 2021 and March 14, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 17, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Lilium N.V. f/k/a Qell Acquisition Corp. issued materially false and/or misleading statements and/or failed to disclose that: (1) Lilium materially overstates the design and capabilities of the Lilium Jet, an electric vertical take-off-and-landing aircraft for use in a new type of high-speed air transport system for people and goods; (2) Lilium materially overstates the likelihood for the Lilium Jet's timely certification; (3) Lilium misrepresents its ability to obtain or create the necessary batteries for the Lilium Jet; (4) the special purpose acquisition company merger would not and did not generate enough cash to commercially launch the Lilium Jet; (5) Qell Acquisition Corp. did not engage in proper due diligence regarding its merger with Lilium GmbH; and (6) as a result, Defendants' public statements and statements to journalists were materially false and/or misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/lilm-shareholder-alert-jakubowitz-law-reminds-lilium-nv-fka-qell-acquisition-corp-shareholders-lead-plaintiff-deadline-june-17-2022/ | 2022-04-29T11:25:51Z |
HOUSTON and LONDON, April 29, 2022 /PRNewswire/ --
First Quarter 2022 Highlights
- Net Income: $1.3 billion
- Diluted earnings per share: $4.00
- EBITDA: $2.0 billion; strongest first quarter since 2015 and record first quarter for I&D segment
- Robust cash from operating activities: $1.5 billion
- Returned $0.6 billion to shareholders through dividends and share repurchases
Subsequent Events
- Published 5th Annual Sustainability Report detailing our "Future Focused" path to 2030
- Announced plans to exit refining business by the end of 2023
Comparisons with the prior quarter and first quarter 2021 are available in the following table:
LyondellBasell Industries (NYSE: LYB) today announced net income for the first quarter 2022 of $1.3 billion, or $4.00 per share. First quarter 2022 EBITDA was $2.0 billion.
"LyondellBasell's results reflect robust demand across our portfolio and exceptionally strong first quarter margins from our Intermediates & Derivatives segment," said Ken Lane, LyondellBasell Interim Chief Executive Officer.
"Our team reversed fourth quarter trends and achieved price increases for polyethylene and polypropylene during the first quarter while rapidly rising feedstock and energy costs compressed olefins and polyolefins margins in the Americas. European demand for polymers remained solid despite ongoing challenges from the war in Ukraine. Excluding planned maintenance, we operated our European ethylene crackers at 85 percent of capacity during the quarter. We restarted our ethylene cracker in La Porte, Texas ahead of schedule in March after completing a major planned maintenance turnaround. In our oxyfuels and refining businesses, increasing demand for transportation fuels and higher prices for gasoline and diesel drove exceptional first quarter profitability. Advanced Polymer Solutions profitability increased due to higher volumes and margins as automotive demand improved from the fourth quarter."
"Our business continued to generate substantial cash during the quarter with $1.5 billion in cash from operating activities. We maintained our disciplined and balanced approach to capital allocation. We reinvested more than $400 million of capital in the business and delivered nearly $600 million to shareholders through our quarterly dividend and the repurchase of 2.1 million shares."
"In April, we published our Annual Sustainability Report and reaffirmed our commitments to help address the global challenges of climate change and plastic waste. We are focused on our ambitious target of producing 2 million tons of recycled and renewable-based polymers annually by 2030 and developing scalable business platforms to drive our success. We launched several collaborations around our Circulen products to develop paint containers for Nippon Paint, cosmetic packaging for L'Occitane and cups for Wendy's and McDonald's. LyondellBasell is moving forward on our strategy to deliver sustainable value for customers and shareholders over the coming years," Lane said.
OUTLOOK
"We expect typical improvements in summer seasonal demand will extend market strength for LyondellBasell's products as the global economy continues to navigate geopolitical uncertainty and volatile costs for energy and feedstocks. Outside of China, we anticipate benefits from continued demand for consumer packaging, improving volumes for automotive polymer compounds, seasonal demand for durable goods used in building and construction markets, as well as strong markets for our oxyfuels products. We forecast a favorable outlook for our refining segment as we work toward exiting the business by the end of next year. In the second quarter, LyondellBasell's margins are likely to improve as the prices for our products catch up with increased feedstock and energy costs. Additionally, we expect reductions in European and Asian industry operating rates driven by maintenance downtime in Europe and unsustainable production economics in China to tighten market supply over the coming months. We continue monitoring risks on supply chains and inflation."
"LyondellBasell's step change in earnings and cash flow is based on robust markets and the growth in our asset base since 2018. With our well-positioned asset portfolio, we expect cash generation will continue to provide significant returns for shareholders. LyondellBasell is making prudent investments and collaborating with industry leaders, brand owners and communities to reduce CO2 emissions and leading on the development of circular plastics."
"Finally, we look forward to Peter Vanacker extending our rich legacy of leadership in safety, operational excellence, innovation and capital discipline as he joins LyondellBasell as our next CEO on May 23rd," said Lane.
CONFERENCE CALL
LyondellBasell will host a conference call April 29 at 11 a.m. EDT. Participants on the call will include Interim Chief Executive Officer and Executive Vice President Ken Lane, Executive Vice President and Chief Financial Officer Michael McMurray and David Kinney, Head of Investor Relations. For event access, the toll-free dial-in number is 1-877-407-8029, international dial-in number is 201-689-8029 or click the CallMe link. The slides and webcast that accompany the call will be available at www.LyondellBasell.com/earnings. A replay of the call will be available from 1:00 p.m. EDT April 29 until May 29. The replay toll-free dial-in numbers are 1-877-660-6853 and 201-612-7415. The access ID for each is 13727006.
ABOUT LYONDELLBASELL
As a leader in the global chemical industry, LyondellBasell (NYSE: LYB) strives every day to be the safest, best operated and most valued company in our industry. The company's products, materials and technologies are advancing sustainable solutions for food safety, access to clean water, healthcare and fuel efficiency in more than 100 international markets. LyondellBasell places high priority on diversity, equity and inclusion and is Advancing Good with an emphasis on our planet, the communities where we operate and our future workforce. The company takes great pride in its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonization. In 2022, LyondellBasell was named as one of FORTUNE Magazine's "World's Most Admired Companies" for the fifth consecutive year. For more information, please visit www.LyondellBasell.com or follow @LyondellBasell on LinkedIn.
FORWARD-LOOKING STATEMENTS
The statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. When used in this presentation, the words "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Actual results could differ materially based on factors including, but not limited to, market conditions, the business cyclicality of the chemical, polymers and refining industries; the availability, cost and price volatility of raw materials and utilities, particularly the cost of oil, natural gas, and associated natural gas liquids; uncertainties and impacts related to the extent and duration of the pandemic; competitive product and pricing pressures; labor conditions; our ability to attract and retain key personnel; operating interruptions (including leaks, explosions, fires, weather-related incidents, mechanical failure, unscheduled downtime, supplier disruptions, labor shortages, strikes, work stoppages or other labor difficulties, transportation interruptions, spills and releases and other environmental risks); the supply/demand balances for our and our joint ventures' products, and the related effects of industry production capacities and operating rates; our ability to manage costs; future financial and operating results; benefits and synergies of any proposed transactions; our ability to identify, evaluate and complete any strategic alternative related to the refinery; legal and environmental proceedings; tax rulings, consequences or proceedings; technological developments, and our ability to develop new products and process technologies; our ability to meet our sustainability goals, including the ability to operate safely, increase production of recycled and renewable-based polymers, and reduce our emissions and achieve net zero emissions by the time set in our respective goals; our ability to procure energy from renewable sources; the successful shut down and closure of the Houston Refinery, including within the expected timeframe; potential governmental regulatory actions; political unrest and terrorist acts; risks and uncertainties posed by international operations, including foreign currency fluctuations; and our ability to comply with debt covenants and to repay our debt. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section of our Form 10-K for the year ended December 31, 2021, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission's website at www.sec.gov. There is no assurance that any of the actions, events or results of the forward-looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change, except as required by law.
INFORMATION RELATED TO FINANCIAL MEASURES
This release makes reference to certain non-GAAP financial measures as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended.
We report our financial results in accordance with U.S. generally accepted accounting principles, but believe that certain non-GAAP financial measures, such as EBITDA, net income and diluted EPS exclusive of adjustment for "lower of cost or market" ("LCM") and impairment provide useful supplemental information to investors regarding the underlying business trends and performance of the company's ongoing operations and are useful for period-over-period comparisons of such operations. Non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the financial measures prepared in accordance with GAAP.
We calculate EBITDA as income from continuing operations plus interest expense (net), provision for (benefit from) income taxes, and depreciation and amortization. EBITDA should not be considered an alternative to profit or operating profit for any period as an indicator of our performance, or as an alternative to operating cash flows as a measure of our liquidity. We also present EBITDA, net income and diluted EPS exclusive of adjustments for LCM and Impairment. Our inventories are stated at the lower of cost or market. Cost is determined using the last-in, first-out (LIFO) inventory valuation methodology, which means that the most recently incurred costs are charged to cost of sales and inventories are valued at the earliest acquisition costs. Fluctuation in the prices of crude oil, natural gas and correlated products from period to period may result in the recognition of charges to adjust the value of inventory to the lower of cost or market in periods of falling prices and the reversal of those charges in subsequent interim periods, within the same fiscal year as the charge, as market prices recover. Property, plant and equipment are recorded at historical costs. If it is determined that an asset or asset group's undiscounted future cash flows will not be sufficient to recover the carrying amount, an impairment charge is recognized to write the asset down to its estimated fair value.
These measures as presented herein, may not be comparable to similarly titled measures reported by other companies due to differences in the way the measures are calculated. This release contains time sensitive information that is accurate only as of the time hereof. Information contained in this release is unaudited and subject to change.
LyondellBasell undertakes no obligation to update the information presented herein except to the extent required by law.
Additional operating and financial information may be found on our website at www.LyondellBasell.com/investorrelations. These measures as presented herein, may not be comparable to similarly titled measures reported by other companies due to differences in the way the measures are calculated.
View original content:
SOURCE LyondellBasell Industries | https://www.whsv.com/prnewswire/2022/04/29/lyondellbasell-reports-first-quarter-2022-earnings/ | 2022-04-29T11:25:59Z |
Highly Ranked International Trio Energizes Firm's Global Privacy & Cybersecurity Practice with Deep Experience in Data Protection and Cyber Risk Management
WASHINGTON, April 29, 2022 /PRNewswire/ -- International law firm McDermott Will & Emery is pleased to announce the addition of three lawyers to its global Regulatory Practice Group: Partner Elliot Golding and Counsel Robin Campbell in Washington, DC, and Partner Rosa Barcelo in Brussels. The trio join from Squire Patton Boggs and will further strengthen McDermott's global privacy team, helping clients navigate an increasingly complex web of privacy laws.
"The United States and the European Union, Brussels in particular, are where fast-developing global data protection and privacy regulations are created," said Raymond Jacobsen, global head of McDermott's regulatory practice. "We are thrilled to welcome Elliot, Robin and Rosa – a team of highly skilled lawyers with such deep and multifaceted experience – who will provide our clients with full coverage of their privacy-related needs. Through their substantial collective and individual industry experience, they will also be able to support our additional practices, including healthcare, technology, IP, energy, litigation and corporate."
Elliot provides business-oriented privacy and cybersecurity advice to global companies spanning virtually every sector of the economy, with a focus in the technology, healthcare/life sciences, retail/ecommerce, automotive and financial sectors. His practical approach gives clients actionable advice to help balance legal risk with business needs, particularly relating to innovative issues such as digital health technologies, biometrics, the Internet of Things, data monetization, online advertising and Artificial Intelligence/Machine Learning tools. He provides both day-to-day product counseling and helps companies develop global compliance programs that harmonize CCPA/CPRA (and equivalent laws in Virginia, Colorado and Utah); General Data Protection Regulation (GDPR) and other international laws; specific rules in the highly regulated health and financial sectors; marketing rules; security standards and many others. Elliot has also managed hundreds of breaches and ransomware attacks, guiding clients through all aspects of investigation, notification, remediation, engagement with regulators and litigation defense. He has been recognized in a number of industry rankings and awards, including by Bloomberg Law and Global Data Review. Elliot is CIPP/US certified and chairs the ABA's Privacy, Security and Emerging Technology Division, along with several other committees.
Robin focuses her practice on global privacy and cybersecurity matters and provides practical solutions for data security and privacy risk management. She works closely with clients to analyze the risks associated with new technologies, data use or transfers and to develop appropriate controls to reduce those risks. She focuses her decades of experience on the automotive industry, including connected cars and autonomous vehicles (AV). She covers both US and international laws and has in-depth knowledge of GDPR and international data transfers. Robin is a leader in the field and has twice chaired the global privacy/security practice at top tier law firms. She was selected by the Department of Commerce/EU Commission as one of sixteen arbitrators for the US/EU Privacy Shield arbitration panel. She has been named a "Cybersecurity Trailblazer" by The National Law Journal, served on Law360's Cybersecurity & Privacy Editorial Advisory Board and spent years as part of the IAPP's privacy faculty. She also co-founded Click 4 Compliance online compliance training, a two-time recipient of the Inc. 500/5000 Fastest Growing Companies recognition.
Rosa is a leading voice in global data protection and cyberspace. She brings a wealth of experience on the issues, including having served as Deputy Head of Unit DG CONNECT in the European Commission where she played a key role in helping shape EU data privacy legislation. With more than two decades of experience, she is a trusted advisor well-known for her practical, business-focused solutions to some of the most complex and cutting-edge issues of the day – from artificial intelligence to machine learning and AV, to programmatic advertising and tracking technologies. With her global mindset, she regularly advises clients on data strategy in all forms of commercial agreements, global data transfers, data protection impact assessments and setting up strong foundations with lead authority assessments. She is a true problem solver who helps unlock business objectives while operationalizing and scaling compliance.
"Privacy regulation is a topic that will only continue escalating, not only in the EU or the US but globally," said Romain Perray, head of the Firm's EU Global Privacy & Cybersecurity Practice Group. "We are delighted to be able to draw on the team's first-class knowledge of complex privacy and data security issues in an international environment and support our clients with this team's executive-level experience, especially in the context of coordinating large projects."
ABOUT MCDERMOTT
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
View original content to download multimedia:
SOURCE McDermott Will & Emery | https://www.whsv.com/prnewswire/2022/04/29/mcdermott-adds-pan-atlantic-privacy-powerhouse/ | 2022-04-29T11:26:06Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Playstudios, Inc. (NASDAQ: MYPS).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/playstudios-inc-loss-submission-form/?id=26475&from=4
This lawsuit is on behalf of a class consisting of all persons and entities other than defendants who: (a) purchased, or otherwise acquired securities of Playstudios between June 22, 2021 and March 1, 2022, both dates inclusive, including, but not limited to, those who purchased or acquired Playstudios securities pursuant to the offering of the private investment in public equity; (b) held common stock of Acies as of May 25, 2021, and were eligible to vote at Acies' June 16, 2021 special meeting who exchanged their shares of Acies stock for shares of Playstudios stock pursuant to the merger of Acies and Old Playstudios; and/or (c) purchased or otherwise acquired Playstudios common stock pursuant to or traceable to Acies' documents issued in connection with the June 2021 merger.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 6, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Playstudios, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) Playstudios was having significant problems with its flagship game, Kingdom Boss; (ii) Playstudios would not be releasing Kingdom Boss as expected; and (iii) Playstudios had not revised its financial projections to account for the problems it had encountered with Kingdom Boss. As a result of defendants' wrongful conduct, Class members paid artificially inflated prices for their Playstudios securities and suffered substantial losses and damages.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/myps-shareholder-alert-jakubowitz-law-reminds-playstudios-inc-shareholders-lead-plaintiff-deadline-june-6-2022/ | 2022-04-29T11:26:14Z |
KAILUA, Hawaii, April 29, 2022 /PRNewswire/ -- Island Empire Tech Systems (IETS) a subsidiary of Island Empire Community Development, a Native Hawaiian Organization (NHO), has been awarded its NHO SBA 8(a) certification status as a Disadvantaged Small Business by the Small Business Administration (SBA). IETS is committed to driving greater organizational and community impact by accelerating the evolution of next generation IT delivery and consulting capabilities; which also includes IETS's ability to advance the federal sector, enabling government agencies to leverage larger sole-source contracts ($22M to $100M) through the advantages of this NHO SBA 8(a) Contract Vehicle.
IETS would be Doing Business As (dba) DIGITALSPEC Technologies (DSPEC), a cutting-edge Information Technology (IT) and digital solutions firm, an SBA certified minority and small business, CMMI Level DEV/3 and SVC/3, ISO 9001:2015, ISO 20000:2011, ISO 27001:2013 certified technology corporation, encapsulating more than 100 years of combined business and IT experience, with active Top-Secret Facility Clearance (TSFCL).
This growth centric, NHO SBA 8(a) award would create a powerful common platform for expansion and evolution of the core service offerings by combining strategic vision, giving back to native Hawaiian communities, and the opportunity to leverage larger sole-sourced contracts (upto $100M) through the SBA Super 8(a) Contract Vehicle. NHOs have been a historically underrepresented tribal organization type. Although ANCs and NHOs have very similar offerings, historically ANCs have received almost 10x more in contract awards than NHOs over the past three years. The current administration's emphasis on inclusive growth paves the way for a tremendous uptick in direct awards to NHOs to uplift their socio-economic condition.
"Our NHO SBA 8(a) certification could not come at a better time; this will further expand our available opportunities and will allow for even more strategic partnerships. It is our mission to follow through on our Kuleana (responsibility and privilege) to provide for Native Hawaiians in the way for which the NHO and 8(a) program has intended," Tautua Reed, Chairman Island Empire said.
"Receiving a NHO SBA 8(a) certification is a major strategic accomplishment for us," says Dr. Charles A Dadoo, President of IETS, "It opens our company to many more business opportunities through the set-aside contracts, with direct awards up to $22 - $100 million a year. This gives us a competitive edge to leverage in the years to come."
If you would like more information about IETS or DIGITALSPEC, please contact our team at sales@digitalspec.net | 703-626-7445 or 703 291 1222
About Island Empire Tech Systems (IETS)
Island Empire Tech Systems (IETS) is a Native Hawaiian Organization (NHO) owned SBA 8(a) business dba DIGITALSPEC Technologies. IETS is providing innovative and impactful solutions to our customers while supporting the social and commercial advancement of Native Hawaiians and their surrounding communities. IETS is a subsidiary of Island Empire Community Development, a Native Hawaiian Organization (NHO) who works closely with Federal Government Clientele to ultimately contribute economic growth for Native Hawaiian owned businesses, neighborhoods and foundations in hopes to accelerate the well-being and success of their people. Together, their mission is to improve the lives of Native Hawaiians by developing education and social empowerment programs.
About DIGITALSPEC
DIGITALSPEC, LLC. is an SBA-certified minority and small business, CMMI Level DEV/3 and SVC/3, ISO 9001:2015, ISO 20000:2011, ISO 27001:2013 certified technology corporation, encapsulating more than 100 years of combined business and IT experience, deep domain expertise, and rich technical knowledge. Founded in 2005, the organization is headquartered in Fairfax, VA, supporting a spectrum of federal and commercial clients.
The Federal clients include the Department of State, Department of Commerce, Drug Enforcement Administration (DEA), Department of Education, DISA, Department of Defense (DOD)/Washington Headquarters Services (WHS), Missile Defense Agency (MDA), Transportation Security Administration (TSA), Customs and Border Protection (CBP), and Immigration and Customs Enforcement (ICE).
View original content to download multimedia:
SOURCE DIGITALSPEC | https://www.whsv.com/prnewswire/2022/04/29/native-hawaiian-organization-nho-island-empire-tech-systems-iets-dba-digitalspec-technologies-receives-nho-sba-8a-certification-2022-2031/ | 2022-04-29T11:26:21Z |
STOCKHOLM , April 29, 2022 /PRNewswire/ -- Psoriatic disease is an inflammatory illness that affects the skin and joints. Itchy, flaky patches of skin are perhaps the most common symptom. But psoriatic disease goes far deeper. For many, one of the most difficult challenges in living with psoriatic disease is its heavy impact on mental health. Today, IFPA – the global organization for people living with psoriatic disease – releases a report exploring the symbiotic relationship between psoriatic disease, depression, and anxiety.
Living with a visible illness can be devastating. "I went through a flare up at the end of 2015," says Reena Ruparelia, from Canada. "My hands and feet were covered in plaques and cracks. I was wearing plastic wrap and gloves to stay moisturized. One day at work I took them off, stared at my hands and began to have a panic attack. I couldn't believe how bad it had gotten. I took a taxi home and I was on disability leave for three months."
Reena's experience is not unique. In fact, latest research shows that more than 25% of people living with psoriatic disease show signs of depression, and as many as 48% experience anxiety — more than any skin condition. Rates of disability and suicide are also higher for people with psoriatic disease. The psychological impact is increasingly recognized as a significant part of the illness.
The same inflammatory mediators are involved in both psoriatic disease and depression. As a result, people living with the condition become caught in a vicious cycle: psoriatic disease causes depression and anxiety, and in return depression and anxiety cause disease flares. IFPA's new report titled Inside Psoriatic Disease: Mental Health not only explores this link, but also outlines best practices to break the cycle.
"No one in the medical field has told me that my depression, anxiety, and psoriasis are linked," remarks Iman in Oman. "Mental health is a complex issue that requires cooperation among all stakeholders."
Elisa Martini, lead author of IFPA's report, emphasizes the urgency of policy change. "The relationship between poor mental health and psoriatic disease is undeniable and must be taken seriously. Effective treatment of psoriatic disease, and timely psychological interventions are essential to provide proper care. Governments must allocate more resources to mental health services. Both physical and mental health are necessary for well-being."
IFPA's report on mental health is available online at ifpa-pso.com.
Contact: Camille Lancelot, +46 (0) 73 961 1565
Photo - https://mma.prnewswire.com/media/1795530/IFPA.jpg
Logo - https://mma.prnewswire.com/media/1747380/ifpa_Logo.jpg
View original content to download multimedia:
SOURCE IFPA | https://www.whsv.com/prnewswire/2022/04/29/new-ifpa-report-reveals-link-between-psoriatic-disease-mental-health/ | 2022-04-29T11:26:28Z |
STOCKHOLM, April 29, 2022 /PRNewswire/ -- As a result of the cancellation of 25,842,915 Series B shares resolved upon by the Annual General Meeting 2022, the number of outstanding shares and votes in AB Electrolux has changed.
Following the cancellation, the total number of votes in the company is 35,680,852.5.
The total number of registered shares in the company amounts to 283,077,393 shares, of which 8,192,348 are Series A shares and 274,885,045 are Series B shares. The cancellation was carried out in April 2022.
This is information that AB Electrolux is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication at 08.10 CET on April 29, 2022.
For further information, please contact Electrolux Press Hotline, +46 8 657 65 07.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE Electrolux | https://www.whsv.com/prnewswire/2022/04/29/new-number-outstanding-shares-votes-ab-electrolux/ | 2022-04-29T11:26:37Z |
STOCKHOLM, April 29, 2022 /PRNewswire/ -- During April, Calliditas Therapeutics AB (publ) has allotted 830,586 common shares within the company's warrant program issued in 2018. Thus, as of April 29, 2022, the number of shares and votes in the company amounts to 53,172,170.
For further information, please contact:
Mikael Widell, Investor relations
Tel.: +46 703 11 99 60, email: mikael.widell@calliditas.com
The information in the press release is such that Calliditas Therapeutics AB (publ) is required to disclose pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out above, at 10:00 a.m. CEST on April 29, 2022.
About Calliditas
Calliditas Therapeutics is a commercial stage biopharma company based in Stockholm, Sweden focused on identifying, developing and commercializing novel treatments in orphan indications, with an initial focus on renal and hepatic diseases with significant unmet medical needs. Calliditas' lead product, TARPEYOTM (budesonide) delayed release capsules, has been approved by the FDA and is the subject of a marketing authorization application (MAA) with the European Medicines Agency (EMA). Additionally, Calliditas is conducting a pivotal clinical trial with its NOX inhibitor product candidate setanaxib in primary biliary cholangitis and is initiating a head and neck cancer Phase 2 trial with setanaxib. Calliditas' common shares are listed on Nasdaq Stockholm (ticker: CALTX) and its American Depositary Shares are listed on the Nasdaq Global Select Market (ticker: CALT).
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE Calliditas Therapeutics | https://www.whsv.com/prnewswire/2022/04/29/number-shares-votes-calliditas-therapeutics/ | 2022-04-29T11:26:44Z |
New research from Thorn surveys youth attitudes about online relationships and identifies potential risks for online grooming
LOS ANGELES, April 29, 2022 /PRNewswire/ -- New research from Thorn, a technology nonprofit dedicated to defending children from online sexual abuse, finds that nearly half of all kids online (40%) have been approached online by someone who they thought was attempting to "befriend and manipulate" them. The research also reveals that tweens – or those aged 9-12 – view flirting or dating adults (people age 18 or older) they meet online as common among their age group.
The study, "Online Grooming: Examining risky encounters amid everyday digital socialization," finds that the traditional "stranger danger" approach to digital safety education is out of touch with how young people tend to view their interactions online. Roughly one in three young people said friends they make online are among their closest confidants.
Thorn's latest study builds on its earlier research examining the experiences of young people who have shared explicit imagery ("nudes") of themselves. The research explores young people's attitudes and experiences with making friends and flirting online, and how minors respond to online threats of manipulation, grooming, and abuse.
"While online socialization and exploration offers young people the opportunity to connect over shared interests and provides critical support, the anonymity also gives the opportunity for bad actors to build false friendships, isolate, and victimize youth," said Julie Cordua, CEO of Thorn. "The importance of online relationships for children is only going to continue as new platforms for virtual socialization develop, which is exactly why we urge parents and caregivers to have open and honest conversations with their children about their digital lives and online safety."
The report underscores the critical role that parents and caregivers must play to teach kids about healthy online relationships. In September 2021, Thorn launched Thorn for Parents, a digital resource hub designed to assist parents and caregivers in having earlier, more frequent, and judgment-free conversations with kids about digital safety. Thorn for Parents brings caregivers face-to-face with the reality that digital safety conversations need to start much younger than they may think and underscores the importance of having them more often to help guide kids through these difficult topics with understanding, empathy, and support.
In examining kids' online social networks and behaviors, the online grooming research disentangles high-value from high-risk relationships to inform a series of recommendations and areas for further study.
Summary of Findings
- Young people view flirting or dating adults online as common. In fact, 1 in 4 9-12-year-olds see it as normal for kids their age to date adults aged 18-20. This group also reported flirting with or dating older adults aged 21-29, and adults age 30 or older, at similar rates.
- Minors are regularly approached online by someone they believe is attempting to "befriend and manipulate" them. 2 in 5 minors (40%) said they have been approached online by someone they believe was attempting "to befriend and manipulate" them, with 47% of teen girls saying they have experienced this.
- Many young people have experienced cold solicitations for nudes online. 40% of minors have experienced cold solicitations for nudes online, including roughly 1 in 4 (28%) 9-12-year-olds. Many who have experienced it claim it wasn't a frequent experience, but around 1 in 7 (14%) minors reported this as a weekly or daily experience.
- Online-only contacts often ask young people to move conversations from public platforms to private chats, increasing the vulnerability and opportunities for abuse. Nearly 2 in 3 (65%) minors said they have experienced an online-only contact inviting them "to move from a public chat into a private conversation on a different platform."
- Certain minors may be at heightened risk for online exploitation. Roughly 1 in 8 (12%) minors surveyed qualified as individuals at higher risk for online exploitation based on their sharing behaviors with online-only contacts. 30% of all LGBTQ+ minors surveyed fell into this category, as well as 20% of all 15-17-year-olds and 18% of all teen girls.
The study also shows where kids learn about grooming matters. Those young people who are considered at high risk of being groomed were far less likely to have learned about "online grooming" from their parents or caregivers than other minors. They were twice as likely (47%) than their counterparts (23%) to have learned the term and its meaning from online communities. This is why parents and caregivers play such an important role in safeguarding children from online risks.
The study also notes that platforms, including private messaging services, must evolve how they understand and approach online grooming.
While platforms should continue to improve and prioritize reporting functionality and their ability to respond quickly, this approach offers only the most basic level of protection for users and still places the onus on kids to recognize and report attempts at manipulation.
It's essential that platforms work collaboratively on this issue to innovate and deploy solutions that address the fundamentally cross-platform nature of online grooming. Without this approach, offenders will continue to exploit the siloed nature of digital environments to the detriment of the children they victimize.
Thorn's full report, "Online Grooming: Examining risky encounters amid everyday digital socialization," can be viewed online here.
Methodology: The survey collected self-reported data from minors aged 9-17. Both qualitative and quantitative research tools were used to collect data related to minors' online experiences. In total, 25 minors aged 13-17 participated from November 12-21, 2020 in "online diaries" designed to safely capture a nuanced understanding of a minor's experiences online. In total, 1,200 minors of a nationally representative sample participated in a 20-minute online survey from January 27-February 12, 2021. Data was weighted to age, gender, race, and geography, based on US Census data.
About Thorn: Thorn is a nonprofit founded in 2012 to build technology to defend children from sexual abuse and eliminate child sex abuse material from the internet. Thorn creates products that identify child victims faster, provides services for the tech industry to play a proactive role in removing abuse content from their platforms, and works directly with youth and communities to build resilient kids. Learn more about Thorn's mission to build technology to defend children from sexual abuse at Thorn.org.
View original content to download multimedia:
SOURCE Thorn | https://www.whsv.com/prnewswire/2022/04/29/online-grooming-report-young-peoples-online-encounters-growing-riskier-flirting-with-adults-they-meet-online-viewed-normal/ | 2022-04-29T11:26:51Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Rivian Automotive, Inc. (NASDAQ: RIVN).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/rivian-automotive-inc-loss-submission-form/?id=26466&from=4
This lawsuit is on behalf of investors that purchased or otherwise acquired Rivian common stock pursuant and/or traceable to Rivian's initial public offering on November 10, 2021 and/or between November 10, 2021, and March 10, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 6, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Documents issued in connection with the initial public offering contained representations that were materially inaccurate, misleading, and/or incomplete because they failed to disclose, among other things, that the R1T electric pickup truck and R1S electric SUV were underpriced to such a degree that Rivian would have to raise prices shortly after the IPO and that these price increases would tarnish Rivian's reputation as a trustworthy and transparent company and would put a significant number of the existing backlog of 55,400 preorders, along with future preorders, in jeopardy of cancellation.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/rivn-shareholder-alert-jakubowitz-law-reminds-rivian-automotive-inc-shareholders-lead-plaintiff-deadline-may-6-2022/ | 2022-04-29T11:27:01Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Stronghold Digital Mining, Inc. (NASDAQ: SDIG).
To receive updates on the lawsit, fill out the form:
https://claimyourloss.com/securities/stronghold-digital-mining-inc-loss-submission-form/?id=26478&from=4
This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Stronghold Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's October 2021 initial public offering.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 13, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Stronghold Digital Mining, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) contracted suppliers, including MinerVa Semiconductor Corp., were reasonably likely to miss anticipated delivery quantities and deadlines; (2) due to strong demand and pre-sold supply of mining equipment in the industry, Stronghold would experience difficulties obtaining miners outside of confirmed purchase orders; (3) as a result of the foregoing, there was a significant risk that Stronghold could not expand its mining capacity as expected; (4) as a result, Stronghold would likely experience significant losses; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/sdig-shareholder-alert-jakubowitz-law-reminds-stronghold-digital-mining-inc-shareholders-lead-plaintiff-deadline-june-13-2022/ | 2022-04-29T11:27:07Z |
STOCKHOLM, April 29, 2022 /PRNewswire/ -- SHL Healthcare AB, a leading manufacturer for patient slings, alternating pressure mattresses & medical soft goods, has just announced the establishment of its first production facility factory in Europe. With approximately 5,000 sqm of manufacturing space, this new facility was chosen to be strategically located in Sophia, Bulgaria to offer our customers further flexibilities for lead times, logistics and production.
"This is an excellent opportunity for SHL Healthcare as we advance into the next chapter and increase our offerings in MedTech manufacturing on a global scale. By investing in expanded operations to tactical regions, we not only increase our manufacturing capacities but also demonstrate to customers our commitment in providing alternative production solutions for premium MedTech products and manufacturing services," says Erik Bolmgren, CEO of SHL Healthcare AB.
To ensure transparent insight and full control over operations, the new factory site in Bulgaria has been fully acquired by SHL Healthcare AB and is to be managed by its subsidiary SHL Healthcare Bulgaria EAD.
"I'm very excited to be part of this new expansion with SHL Healthcare. I hope to apply the 30+ years of experiences I've accumulated in the textile and MedTech industry to build a solid foundation for us here in Europe. Our plan is to kick off with production for non-medical products in 2022 while working in parallel to ramp up for medical products starting end of 2022 and to further accelerate in 2023. It's vital we take time to properly plan and implement all relevant quality systems and certifications." shared Patrik Axelsson, interim General Manager, SHL Healthcare Bulgaria EAD.
About SHL Healthcare
SHL Healthcare is a global leader in MedTech manufacturing that offers a range of premium contract manufacturing capabilities such as CNC Sewing, CNC Fabric Cutting, RF/HF Welding, Product Testing, Assembly and more. Some examples of MedTech products SHL Healthcare manufactures include medical patient slings, alternating pressure mattresses, pumps and medical soft goods.
Image Caption:
SHL Healthcare AB establishes new 5,000 sqm production facility in Sophia, Bulgaria.
Patty Sa
+41 79 151 4010
patty.sa@shl-healthcare.com
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE SHL Healthcare AB | https://www.whsv.com/prnewswire/2022/04/29/shl-healthcare-ab-establishes-new-manufacturing-facility-europe/ | 2022-04-29T11:27:14Z |
BEIJING, April 29, 2022 /PRNewswire/ -- TAL Education Group (NYSE: TAL) ("TAL" or the "Company"), a smart learning solutions provider in China, today announced its unaudited financial results for the fourth quarter and the fiscal year ended February 28, 2022.
Highlights for the Fourth Quarter of Fiscal Year 2022
- Net revenues decreased by 60.3% year-over-year to US$541.2 million from US$1,362.7 million in the same period of the prior year.
- Income from operations was US$0.6 million, compared to loss from operations of US$297.2 million in the same period of the prior year.
- Non-GAAP income from operations, which excluded share-based compensation expenses, was US$0.8 million, compared to non-GAAP loss from operations of US$216.9 million in the same period of the prior year.
- Net loss attributable to TAL was US$108.1 million, compared to net loss attributable to TAL of US$169.0 million in the same period of the prior year.
- Non-GAAP net loss attributable to TAL, which excluded share-based compensation expenses, was US$108.0 million, compared to non-GAAP net loss attributable to TAL of US$88.7 million in the same period of the prior year.
- Basic and diluted net loss per American Depositary Share ("ADS") were both US$0.17. Non-GAAP basic and diluted net loss per ADS, which excluded share-based compensation expenses, were both US$0.17. Three ADSs represent one Class A common share.
- Cash, cash equivalents and short-term investments totaled US$2,708.7 million as of February 28, 2022, compared to US$5,937.5 million as of February 28, 2021.
Highlights for the Fiscal Year Ended February 28, 2022
- Net revenues decreased by 2.3% year-over-year to US$4,390.9 million from US$4,495.8 million in fiscal year 2021.
- Loss from operations was US$614.5 million, compared to loss from operations of US$438.2 million in fiscal year 2021.
- Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$439.7 million, compared to non-GAAP loss from operations of US$233.3 million in fiscal year 2021.
- Net loss attributable to TAL was US$1,136.1 million, compared to net loss attributable to TAL of US$116.0 million in fiscal year 2021.
- Non-GAAP net loss attributable to TAL, which excluded share-based compensation expenses, was US$961.3 million, compared to non-GAAP net income attributable to TAL of US$89.0 million in fiscal year 2021.
- Basic and diluted net loss per ADS were both US$1.76. Non-GAAP basic and diluted net loss per ADS, excluding share-based compensation expenses, were both US$1.49.
Financial Results for the Fourth Quarter of Fiscal Year 2022
Net Revenues
In the fourth quarter of fiscal year 2022, TAL reported net revenues of US$541.2 million, representing a 60.3% decrease from US$1,362.7 million in the fourth quarter of fiscal year 2021.
Operating Costs and Expenses
In the fourth quarter of fiscal year 2022, operating costs and expenses were US$546.3 million, representing a 67.1% decrease from US$1,662.0 million in the fourth quarter of fiscal year 2021. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$546.2 million, representing a 65.5% decrease from US$1,581.7 million in the fourth quarter of fiscal year 2021.
Cost of revenues decreased by 65.9% to US$198.1 million from US$581.4 million in the fourth quarter of fiscal year 2021. Non-GAAP cost of revenues, which excluded share-based compensation expenses, decreased by 65.9% to US$197.9 million, from US$580.8 million in the fourth quarter of fiscal year 2021.
Selling and marketing expenses decreased by 84.3% to US$103.5 million from US$660.5 million in the fourth quarter of fiscal year 2021. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, decreased by 82.2% to US$113.1 million, from US$635.5 million in the fourth quarter of fiscal year 2021.
General and administrative expenses decreased by 39.2% to US$212.1 million from US$348.6 million in the fourth quarter of fiscal year 2021. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, decreased by 31.1% to US$202.5 million, from US$293.9 million in the fourth quarter of fiscal year 2021.
Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 99.8% to US$0.1 million in the fourth quarter of fiscal year 2022 from US$80.3 million in the same period of fiscal year 2021.
Impairment loss on intangible assets and goodwill was US$32.6 million for the fourth quarter of fiscal year 2022, compared to US$71.5 million for the fourth quarter of fiscal year 2021.
Gross Profit
Gross profit decreased by 56.1% to US$343.1 million from US$781.2 million in the fourth quarter of fiscal year 2021.
(Loss)/Income from Operations
Income from operations was US$0.6 million in the fourth quarter of fiscal year 2022, compared to loss from operations of US$297.2 million in the fourth quarter of fiscal year 2021. Non-GAAP income from operations, which excluded share-based compensation expenses, was US$0.8 million, compared to Non-GAAP loss from operations of US$216.9 million in the same period of the prior year.
Other Income/ (Expense)
Other expense was US$0.7 million for the fourth quarter of fiscal year 2022, compared to other income of US$7.9 million in the fourth quarter of fiscal year 2021.
Impairment Loss on Long-term Investments
Impairment loss on long-term investments was US$97.8 million for the fourth quarter of fiscal year 2022, compared to US$6.2 million for the fourth quarter of fiscal year 2021.
Income Tax Benefit/ (Expense)
Income tax expense was US$29.9 million in the fourth quarter of fiscal year 2022, compared to US$80.5 million of income tax benefit in the fourth quarter of fiscal year 2021.
Net Loss Attributable to TAL Education Group
Net loss attributable to TAL was US$108.1 million in the fourth quarter of fiscal year 2022, compared to net loss attributable to TAL of US$169.0 million in the fourth quarter of fiscal year 2021. Non-GAAP net loss attributable to TAL, which excluded share-based compensation expenses, was US$108.0 million, compared to Non-GAAP net loss attributable to TAL of US$88.7 million in the fourth quarter of fiscal year 2021.
Basic and Diluted Net Loss per ADS
Basic and diluted net loss per ADS were both US$0.17 in the fourth quarter of fiscal year 2022. Non-GAAP basic and diluted net loss per ADS, which excluded share-based compensation expenses, were both US$0.17, in the fourth quarter of fiscal year 2022.
Cash, Cash Equivalents, and Short-Term Investments
As of February 28, 2022, the Company had US$1,638.2 million of cash and cash equivalents and US$1,070.5 million of short-term investments, compared to US$3,243.0 million of cash and cash equivalents and US$2,694.5 million of short-term investments as of February 28, 2021.
Deferred Revenue
The Company's deferred revenue balance was US$187.7 million, compared to US$1,417.5 million as of February 28, 2021, representing a year-over-year decrease of 87.2%.
Financial Results for the Fiscal Year Ended February 28, 2022
Net Revenues
For fiscal year 2022, TAL reported net revenues of US$4,390.9 million, representing a 2.3% decrease from US$4,495.8 million in the fiscal year 2021.
Operating Costs and Expenses
In the fiscal year 2022, operating costs and expenses were US$5,026.2 million, a 1.5% increase from US$4,953.5 million in the fiscal year 2021. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$4,851.4 million, a 2.2% increase from US$4,748.5 million in the fiscal year 2021.
Cost of revenues grew by 7.6% to US$2,203.3 million from US$2,048.6 million in the fiscal year 2021. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 7.6% to US$2,202.2 million from US$2,046.8 million in the fiscal year 2021.
Selling and marketing expenses decreased by 33.4% to US$1,118.1 million from US$1,680.1 million in the fiscal year 2021. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, decreased by 34.4% to US$1,064.3 million from US$1,623.4 million in the fiscal year 2021.
General and administrative expenses increased by 7.4% to US$1,199.7 million from US$1,117.3 million in the fiscal year 2021. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 11.2% to US$1,079.9 million from US$970.8 million in the fiscal year 2021.
Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 14.7% to US$174.8 million in the fiscal year 2022 from US$204.9 million in fiscal year 2021.
Impairment loss on intangible assets and goodwill was US$505.1 million for the fiscal year 2022, compared to US$107.5 million for the fiscal year 2021.
Gross Profit
Gross profit decreased by 10.6% to US$2,187.6 million from US$2,447.2 million in the fiscal year 2021.
Loss from Operations
Loss from operations was US$614.5 million in the fiscal year 2022, compared to loss from operations of US$438.2 million in the prior year. Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$439.7 million for the fiscal year 2022, compared to non-GAAP loss from operations of US$233.3 million in the fiscal year 2021.
Other Income
Other income was US$17.0 million for the fiscal year 2022. Other income was US$140.9 million for the fiscal year 2021.
Impairment Loss on Long-term Investments
Impairment loss on long-term investments was US$275.9 million for the fiscal year 2022, compared to US$24.6 million for the fiscal year 2021.
Income Tax Benefit/ (Expense)
Income tax expense was US$397.0 million in the fiscal year 2022, compared to US$69.9 million of income tax benefit in the fiscal year 2021.
Net (Loss)/Income Attributable to TAL Education Group
Net loss attributable to TAL was US$1,136.1 million in the fiscal year 2022, compared to net loss attributable to TAL of US$116.0 million in the fiscal year 2021. Non-GAAP net loss attributable to TAL, which excluded share-based compensation expenses, was US$961.3 million, compared to Non-GAAP net income attributable to TAL of US$89.0 million in the fiscal year 2021.
Basic and Diluted Net Loss per ADS
Basic and diluted net loss per ADS were both US$1.76 in the fiscal year 2022. Non-GAAP basic and Non-GAAP diluted net loss per ADS, which excluded share-based compensation expenses, were both US$1.49.
Extension of Share Repurchase Program by the Company
TAL's board of directors (the "Board") has authorized to extend its share repurchase program launched in April 2021 by 12 months. Since launch, the Company has repurchased approximately US$196.3 million of its American depositary shares under the share repurchase program. Pursuant to the extended share repurchase program, the Company may repurchase up to approximately US$803.7 million of its common shares through April 30, 2023. The share repurchases may be effected from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and will be implemented in accordance with applicable rules and regulations. The Company expects to fund the repurchases out of its existing cash balance.
Separately, the Company was also informed by senior management of the Company of their intention to use their personal funds to purchase up to an aggregate of US$100 million worth of the Company's common shares during a 12-month period following today, pursuant and subject to applicable laws and the Company's securities trading policy. The proposed share purchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations.
Changes to Board Composition
TAL has announced the appointment of Ms. Janet Yan Feng to the Board and the resignation of Ms. Jane Jie Sun from the Board, both effective April 29, 2022. Ms. Feng will serve as the chairperson of the audit committee of the Board, a member of the compensation committee of the Board, and a member of the nominating and corporate governance committee of the Board.
"We are delighted to welcome Janet to the Board," said Mr. Bangxin Zhang, Founder, Director and Chief Executive Officer of TAL, "We believe Janet will bring significant value to TAL as we continue to transform our business. On behalf of the Board and the Company, I would also like thank Jane for her over-a-decade of service."
Ms. Janet Yan Feng currently serves as a senior vice president and the chief executive officer of the financial services business unit of Trip.com Group Limited (Nasdaq: TCOM), where she has held a number of general management and finance positions since 2004. Prior to that, Ms. Feng served as a senior audit manager at PricewaterhouseCoopers Zhong Tian LLP from 2000 to 2004. Ms. Feng received her MBA degree in 2008 and bachelor's degree in 2000 from Shanghai Jiao Tong University. Further, effective on April 29, Mr. Bangxin Zhang will serve as the chairman of the Board, whereas Mr. Yunfeng Bai will continue serving as a director.
Conference Call
The Company will host a conference call and live webcast to discuss its financial results for the fourth fiscal quarter of fiscal year 2022 ended February 28, 2022 at 8:00 a.m. Eastern Time on April 29, 2022 (8:00 p.m. Beijing time on April 29, 2022).
Please note that you will need to pre-register for conference call participation, using the link provided below. Upon registering, you will be sent participant dial-in numbers, Direct Event passcode and unique registrant ID by email.
Conference call registration link: http://apac.directeventreg.com/registration/event/5787527. It will automatically direct you to the registration page of "TAL Education Group Fourth Quarter of Fiscal Year 2022 Earnings Conference Call", where you may fill in your details for RSVP. When you are requested to submit a participant conference ID, please enter the number "5787527".
In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), Direct Event passcode and unique registrant ID) provided in the confirmation email that you have received following your pre-registration.
A live and archived webcast of the conference call will be available on the Investor Relations section of TAL's website at https://ir.100tal.com/.
A telephone replay of the conference call will be available through 9:59 a.m. on May 6, 2022, U.S. Eastern time (9:59 p.m. Beijing time on May 6, 2022).The dial-in details for the replay are as follows:
- U.S. toll free: +1-855-452-5696
- Hong Kong toll free: 800-963-117
- International toll: +61-2-8199-0299
Conference ID: 5787527
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, TAL Education Group's strategic and operational plans contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's ability to continue to provide competitive learning services and products; the Company's ability to continue to recruit, train and retain talents; the Company's ability to improve the content of current course offerings and develop new courses; the Company's ability to maintain and enhance its brand; the Company's ability to maintain and continue to improve its teaching results; and the Company's ability to compete effectively against its competitors. Further information regarding these and other risks is included in the Company's reports filed with, or furnished to the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and TAL Education Group undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.
About TAL Education Group
TAL Education Group is a smart learning solutions provider in China. The acronym "TAL" stands for "Tomorrow Advancing Life", which reflects our vision to promote top learning opportunities for students through both high-quality teaching and content, as well as leading edge application of technology in the education experience. TAL Education Group offers comprehensive learning services to students from pre-school to the twelfth grade primarily through three flexible class formats: small classes, personalized premium services, and online courses. Our learning services mainly cover enrichment learnings programs and some academic subjects in and out of China. Our ADSs trade on the New York Stock Exchange under the symbol "TAL".
About Non-GAAP Financial Measures
In evaluating its business, TAL considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP operating costs and expenses, non-GAAP cost of revenues, non-GAAP selling and marketing expenses, non-GAAP general and administrative expenses, non-GAAP income from operations, non-GAAP net income attributable to TAL, non-GAAP basic and non-GAAP diluted net income per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of non-GAAP measures to the most comparable GAAP measures" set forth at the end of this release.
TAL believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based expenses that may not be indicative of its operating performance from a cash perspective. TAL believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to TAL's historical performance and liquidity. TAL computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. TAL believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation charges that have been and will continue to be for the foreseeable future a significant recurring expense in the Company's business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.
For further information, please contact:
Jackson Ding
Investor Relations
TAL Education Group
Tel: +86 10 5292 6669-8809
Email: ir@tal.com
View original content:
SOURCE TAL Education Group | https://www.whsv.com/prnewswire/2022/04/29/tal-education-group-announces-unaudited-financial-results-fourth-fiscal-quarter-fiscal-year-2022/ | 2022-04-29T11:27:21Z |
Brings new variants with higher cloud performance and simplified one-touch management
SINGAPORE, April 29, 2022 /PRNewswire/ -- Tata Communications International Pte Ltd., a wholly-owned subsidiary of Tata Communications Ltd., a global digital ecosystem enabler, today announces strengthened variants of the IZO™ Internet WAN for global enterprises. With predictable and dependable network services offering access to more than 150+ geographies, IZO™ Internet WAN offers high-quality Internet services, consistent network experiences over various service options including broadband Internet. It now enables seamless data transfer from branch offices to data centres, from branch offices to clouds, and across multiple clouds for enterprises. Enterprises are able to have a simple and agile management over their global and regional networks. The new variants have been released for enterprises across North America, Europe, United Kingdom & Ireland and Asia-Pacific markets.
Tata Communications IZO™ Internet WAN is suited for enterprises introducing cloud services to their existing IT and networking architecture and for businesses that are looking to cost-effectively extend their global reach to new markets. IZO™ Internet WAN caters to all industries such as Manufacturing, IT, ITeS, Services, Retail, BFSI, etc. IZO™ Internet WAN, launched in 2014, is the world's first predictable and dependable internet.
"We closely listened to our global enterprise customers and for them, guaranteed uptime is business critical. Hence, our objective has always been to deliver highly available quality Internet. We have expanded our global reach, added service variants from Dedicated Internet Access to broadband to meet customers' different business needs, and ensured cross border regulatory compliances so enterprises can have predictable, dependable Internet to run their business. We have simplified operation and management, and enhanced the experience for our customers across geographies," said Song Toh, Vice President, Global Network Services, Tata Communications.
"Tata Communications IZO™ Internet WAN has enabled us to focus on our core business, while improving our people's efficiency and effectiveness. In addition, higher availability is enhancing our experience. In today's cloud-first world, where enterprises are moving workloads to clouds, market offerings like dedicated Internet or broadband, the lack of guaranteed performance, uptime and short restoration becomes a critical hindrance for any enterprise. And, Tata Communications has helped address this vital need at a very opportune time for our business," said Øystein Eide, Vice President, Head of Cloud Infrastructure, DNV AS.
Gartner predicts that growing cloud deployments of business-critical applications will drive 30% of global enterprises to use enhanced Internet services by 2023, up from less than 1% in 2020.
"Enterprises increasingly are entrusting priority business traffic to Internet connections. To support these businesses, the enterprise Internet experience must be reliable, predictable, and seamless. Tata Communications IZO™ Internet WAN aims to provide consistent high performance between broadband Internet endpoints and cloud services, as a widely available and dependable service option," said Brian Washburn, Research Director, Service Provider Enterprise & Wholesale from Omdia.
For more information, please visit: Tata Communications IZO™ Internet WAN
About Tata Communications
A part of the Tata Group, Tata Communications (NSE: TATACOMM; BSE: 500483) is a global digital ecosystem enabler powering today's fast-growing digital economy in more than 190 countries and territories. Leading with trust, it enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. 300 of the Fortune 500 companies are its customers and the company connects businesses to 80% of the world's cloud giants. For more information, please visit www.tatacommunications.com
Forward-looking and cautionary statements
Certain words and statements in this release concerning Tata Communications and its prospects, and other statements, including those relating to Tata Communications' expected financial position, business strategy, the future development of Tata Communications' operations, and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, including financial, regulatory and environmental, as well as those relating to industry growth and trend projections, which may cause actual results, performance or achievements of Tata Communications, or industry results, to differ materially from those expressed or implied by such forward-looking statements. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, failure to increase the volume of traffic on Tata Communications' network; failure to develop new products and services that meet customer demands and generate acceptable margins; failure to successfully complete commercial testing of new technology and information systems to support new products and services, including voice transmission services; failure to stabilize or reduce the rate of price compression on certain of the company's communications services; failure to integrate strategic acquisitions and changes in government policies or regulations of India and, in particular, changes relating to the administration of Tata Communications' industry; and, in general, the economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Tata Communications' control, include, but are not limited to, those risk factors discussed in Tata Communications Limited's Annual Reports.
The Annual Reports of Tata Communications Limited are available at www.tatacommunications.com. Tata Communications is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements.
© 2022 Tata Communications Ltd. All rights reserved.
TATA COMMUNICATIONS and TATA are trademarks or registered trademarks of Tata Sons Private Limited in India and certain countries.
View original content:
SOURCE Tata Communications | https://www.whsv.com/prnewswire/2022/04/29/tata-communications-further-strengthens-izo-internet-wan-global-enterprises/ | 2022-04-29T11:27:28Z |
Compared to 2020, automated non-PO invoice cycles are 7% faster and PO invoices were 4% faster in 2021, according to analysis of $180bn worth of global invoices
STOCKHOLM, April 29, 2022 /PRNewswire/ -- The automated invoice processing cycle time has reduced since 2020 as remote work has transformed accounts payable departments across the world as manual processes and approvals have been rapidly replaced by digital tools and high-degrees of automation.
According to a report by Medius, a leading Accounts Payable provider, invoice processing times fell for both non-PO and PO invoices. Compared to 2020, non-PO invoice cycles reduced by 7% from 7.2 days to 6.6, while PO-Invoice cycles reduced by 4% from 6.55 to 6.29 days. This is faster than the average invoice processing time, which according to the Ardent state of e-Payables is 10.3 days [1].
Most organizations improved their AP process performance, however, the gap between the average and best performers is surprisingly large. Best performers have achieved a PO-invoice processing time of 1 day, compared to the average customer, with a cycle of 6 days. For peak performance, AP teams need to identify improvement areas with their solution provider, data provider and suppliers. The trend is universal across all geographies, including the UK, US, and Sweden, and industries, such as construction, e-commerce, and financial services.
The report also shows strides made in touchless invoicing, the process by which invoices are captured and processed without user intervention. Touchless invoicing has increased over the past few years thanks to machine learning technology and improved reporting on touchless confidence levels. However, the data shows that since 2020, the average rate is down 2%, while for best-in-class performers the rate is up by 1%, perhaps indicating a lag in performance by newcomers to AP automation.
The data comes from the Medius Accounts Payable Automation Benchmark Report 2022 which provides new data for AP professionals, to give them the knowledge and insights they need to run a best-in-class accounts department. The report has taken data from thousands of organizations and millions of invoices to calculate KPI averages for invoices. The report guides readers through automation processes, and explains how to measure performance, and provides tactics to improve efficiency.
Speaking on the findings, Jim Lucier, CEO at Medius comments: "The pandemic forced companies to innovate, automate and streamline their back office processes. The result for the accounts payable team is a faster invoice cycle. A quicker process through automation means business leaders can make better decisions about their finances.
But it's not just about speed. Companies should ensure a faster invoice cycle doesn't compromise on quality. With the right tools, teams can speed up and use the latest technology to detect and prevent fraud too. Our analysis and report now equips AP professionals with the benchmark of what good looks like, and then how to get there."
In the report, Medius highlights top industry performers including Reily Foods Company. The company replaced a manual invoice process using a legacy document management system and spreadsheets with Medius AP Automation to accelerate invoice processing throughout their North American operations.
Paul Fournet, Accounts Payable Supervisor, Reily Foods, total invoice processing cycle time 3.33 days: "We have nearly eliminated all manual work, allowing the AP team members to spend their time on more strategic, value-driven tasks, including tracking KPIs and developing continuous improvement policies and procedures. Plus, with Medius AP Automation, we have visibility like you would not imagine."
More information and the full Accounts Payable Automation Benchmark Report 2022 can be found here.
[1] Ardent Partners: The State of e-Payables 2021
Methodology
Medius's customer base includes organizations in all regions of the world, operating in a variety of industries and handling invoice volumes ranging from 10,000 to over 1 million supplier invoices annually. The average performance benchmark takes into account all companies in the database whereas the best-in-class benchmark represents an average of the top 10% best performing organizations.
CONTACT:
Dan Bird, Fight or Flight for Medius
Dan.Bird@fightflight.co.uk +44 7885 670798 / Medius@fightflight.co.uk +44 330 133 0985
This information was brought to you by Cision http://news.cision.com
View original content:
SOURCE Medius | https://www.whsv.com/prnewswire/2022/04/29/time-process-invoices-falls-post-pandemic-automation-benefits-realized-medius/ | 2022-04-29T11:27:34Z |
- Loss for the quarter of $0.11 per basic and diluted share and adjusted loss of $0.02 per basic and diluted share
- Revenue increased 7% sequentially due to strong customer demand
- Adjusted EBITDA increased 26% sequentially
- Oil & Gas segment contribution margin increased 49% sequentially
KATY, Texas, April 29, 2022 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA), a diversified industrial minerals company and the leading last-mile logistics provider to the oil and gas industry (the "Company"), today announced a net loss of $8.4 million, or $0.11 per diluted share, for the first quarter ended March 31, 2022. The first quarter results were negatively impacted by $9.4 million pre-tax, or $0.09 per diluted share after-tax, of charges primarily related to a supplier contract termination and merger and acquisition related expense, resulting in an adjusted loss of $0.02 per diluted share.
These results compared with a net loss of $19.0 million, or $0.25 per diluted share, for the fourth quarter of 2021, which were negatively impacted by $3.5 million pre-tax, or $0.03 per diluted share after-tax, of charges primarily related to merger and acquisition related expense and other adjustments, resulting in an adjusted loss of $0.22 per basic and diluted share.
Bryan Shinn, Chief Executive Officer, commented, "We started 2022 with a very strong quarter, delivering sequential improvements of 7% in total revenue and 26% in adjusted EBITDA. Macros were very favorable, with continued robust customer demand, and we delivered meaningful price increases across both business units in the quarter. I am pleased to report that the positive market conditions are continuing, and we expect to deliver even stronger financial results in the second quarter, and 2022 overall is shaping up to be a very strong year for profits and cash generation.
"In our Oil & Gas segment, sand and logistics remained effectively sold out due to strong well completion demand, particularly in West Texas. Our teams worked diligently with customers to minimize disruptions and well site downtime given the overwhelming market demand. The supply and demand balance in the sand and last mile logistics market remains very tight, and we have experienced increased operating costs to serve customers. As a result, sand and SandBox sales prices and margins have risen substantially and we continue to sign attractive new contracts.
"In our Industrial & Specialty Products segment, demand remained strong across end uses and market segments. As we mentioned on last quarter's call, strong winter storms negatively impacted a few of our operations during the quarter resulting in higher costs, delayed shipments and less favorable product sales mix. These were transitory issues and we expect a very strong rebound in the second quarter. In addition, we are proactively offsetting West Coast shipping challenges by utilizing alternate ports across the U.S. and anticipate an improved product mix coupled with the phase-in of additional price increases in the second quarter. Given these actions, we expect the second quarter to be one of the strongest quarters on record for our Industrial segment and we believe that first half 2022 Industrial & Specialty Products profitability will be on or slightly ahead of plan."
First Quarter 2022 Highlights
Total Company
- Revenue of $304.9 million for the first quarter of 2022 increased 7% compared with $284.9 million in the fourth quarter of 2021 and increased 30% when compared with the first quarter of 2021.
- Overall tons sold of 4.134 million for the first quarter of 2022 decreased 1% compared with 4.181 million tons sold in the fourth quarter of 2021 and increased 16% when compared with the first quarter of 2021.
- Contribution margin of $82.6 million for the first quarter of 2022 increased 15% compared with $71.6 million in the fourth quarter of 2021 and increased 34% when compared with the first quarter of 2021.
- Adjusted EBITDA of $52.9 million for the first quarter of 2022 increased 26% compared with $42.1 million in the fourth quarter of 2021 and increased 38% when compared with the first quarter of 2021.
Industrial & Specialty Products (ISP)
- Revenue of $128.6 million for the first quarter of 2022 increased 2% compared with $126.3 million in the fourth quarter of 2021, and increased 14% when compared with the first quarter of 2021.
- Tons sold of 1.074 million for the first quarter of 2022 decreased 1% when compared with 1.085 million tons sold in the fourth quarter of 2021 and increased 9% when compared with the first quarter of 2021.
- Segment contribution margin of $37.8 million, or $35.23 per ton, for the first quarter of 2022 decreased 9% compared with $41.5 million in the fourth quarter of 2021 and decreased 6% when compared with the first quarter of 2021.
Oil & Gas
- Revenue of $176.2 million for the first quarter of 2022 increased 11% when compared with $158.6 million in the fourth quarter of 2021 and increased 45% when compared with the first quarter of 2021.
- Tons sold of 3.060 million for the first quarter of 2022 decreased 1% compared with 3.096 million tons sold in the fourth quarter of 2021 and increased 19% when compared with the first quarter of 2021.
- Segment contribution margin of $44.8 million, or $14.63 per ton, increased 49% when compared with $30.1 million in the fourth quarter of 2021 and increased 108% when compared with the first quarter of 2021.
Capital Update
As of March 31, 2022, the Company had $239.8 million in cash and cash equivalents and total debt was $1.208 billion. The Company's $100.0 million Revolver had zero drawn, with $21.6 million allocated for letters of credit, and availability of $78.4 million. During the first quarter of 2022, the Company generated $15.1 million in cash flow from operations and capital expenditures in the first quarter totaled $7.0 million.
Outlook and Guidance
Looking forward to the second quarter and second half of 2022, the Company's two business segments remain well positioned for contribution margin expansion and growth in their respective markets. The Company has a strong portfolio of industrial and specialty products that serve numerous essential, high growth and attractive end markets, supported by a robust pipeline of new products under development as well as pricing increases and surcharges.
The oil and gas industry is progressing through what is anticipated to be a multi-year growth cycle. Strength in commodity prices, both WTI crude oil and natural gas prices, along with forecasted increases in customer spending, are promising for an active well completions environment throughout 2022.
The Company remains focused on free cash flow and de-levering the balance sheet and intends on being operating cash flow positive in 2022, keeping an estimated $40-$60 million of capital expenditures within operating cash flow.
Conference Call
U.S. Silica will host a conference call for investors today, April 29, 2022 at 7:30 a.m. Central Time to discuss these results. Hosting the call will be Bryan Shinn, Chief Executive Officer and Don Merril, Executive Vice President and Chief Financial Officer. Investors are invited to listen to a live webcast of the conference call by visiting the "Investors- Events & Presentations" section of the Company's website at www.ussilica.com. The webcast will be archived for one year. The call can also be accessed live over the telephone by dialing (877) 869-3847 or for international callers, (201) 689-8261. A replay will be available shortly after the call and can be accessed by dialing (877) 660-6853 or for international callers, (201) 612-7415. The conference ID for the replay is 13728925. The replay will be available through May 29, 2022.
About U.S. Silica
U.S. Silica Holdings, Inc. is a global performance materials company and is a member of the Russell 2000. The Company is a leading producer of commercial silica used in the oil and gas industry and in a wide range of industrial applications. Over its 122-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 600 diversified products to customers across our end markets. U.S. Silica's wholly-owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 24 mines and production facilities and is headquartered in Katy, Texas.
Forward-looking Statements
This first quarter 2022 earnings release, as well as other statements we make, contain "forward-looking statements" within the meaning of the federal securities laws - that is, statements about the future, not about past events. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "should," "could," "can have," "likely" and other words and terms of similar meaning. Forward-looking statements made include any statement that does not directly relate to any historical or current fact and may include, but are not limited to, statements regarding U.S. Silica's growth opportunities, strategy, future financial results, forecasts, projections, plans and capital expenditures, technological innovations, the impacts of COVID-19 on the Company's operations, and the commercial silica industry. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are global economic conditions; the effect of the COVID-19 pandemic on markets the Company serves; supply chain and logistics constraints for our company and our customers, fluctuations in demand for commercial silica, diatomaceous earth, perlite, clay and cellulose; fluctuations in demand for frac sand or the development of either effective alternative proppants or new processes to replace hydraulic fracturing; the entry of competitors into our marketplace; changes in production spending by companies in the oil and gas industry and changes in the level of oil and natural gas exploration and development; changes in oil and gas inventories; general economic, political and business conditions in key regions of the world; pricing pressure; cost inflation; weather and seasonal factors; the cyclical nature of our customers' business; our inability to meet our financial and performance targets and other forecasts or expectations; our substantial indebtedness and pension obligations, including restrictions on our operations imposed by our indebtedness; operational modifications, delays or cancellations; prices for electricity, natural gas and diesel fuel; our ability to maintain our transportation network; changes in government regulations and regulatory requirements, including those related to mining, explosives, chemicals, and oil and gas production; silica-related health issues and corresponding litigation; and other risks and uncertainties detailed in this press release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date hereof, and we disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Non-GAAP Financial Measures
Segment Contribution Margin
Segment contribution margin is a key metric that management uses to evaluate our operating performance and to determine resource allocation between segments. Segment contribution margin excludes selling, general, and administrative costs, corporate costs, plant capacity expenses, and facility closure costs.
The following table sets forth a reconciliation of net (loss) income, the most directly comparable GAAP financial measure, to segment contribution margin.
Adjusted EBITDA
Adjusted EBITDA is not a measure of our financial performance or liquidity under GAAP and should not be considered as an alternative to net income (loss) as a measure of operating performance, cash flows from operating activities as a measure of liquidity or any other performance measure derived in accordance with GAAP. Additionally, Adjusted EBITDA is not intended to be a measure of free cash flow for management's discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. Adjusted EBITDA contains certain other limitations, including the failure to reflect our cash expenditures, cash requirements for working capital needs and cash costs to replace assets being depreciated and amortized, and excludes certain charges that may recur in the future. Management compensates for these limitations by relying primarily on our GAAP results and by using Adjusted EBITDA only supplementally. Our measure of Adjusted EBITDA is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the methods of calculation.
The following table sets forth a reconciliation of net income (loss), the most directly comparable GAAP financial measure, to Adjusted EBITDA:
U.S. Silica Holdings, Inc.
Investor Contact
Patricia Gil
Vice President, Investor Relations
(281) 505-6011
gil@ussilica.com
View original content to download multimedia:
SOURCE U.S. Silica Holdings, Inc. | https://www.whsv.com/prnewswire/2022/04/29/us-silica-holdings-inc-announces-first-quarter-2022-results/ | 2022-04-29T11:27:41Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Volta Inc. (NYSE: VLTA).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/volta-inc-loss-submission-form/?id=26473&from=4
The lawsuit seeks to recover losses for shareholders who purchased Volta between August 2, 2021 and March 28, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 31, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Volta Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) Volta had improperly accounted for restricted stock units issued in connection with the business combination of Volta Industries, Inc. ("Legacy Volta") and Tortoise Acquisition Corp. II; (2) as a result, the Company had understated its net loss for third quarter 2021; (3) there were material weaknesses in the Company's internal control over financial reporting that resulted in a material error; (4) as a result of the foregoing, the Company would restate its financial statements; (5) as a result of the foregoing, Legacy Volta's founders would imminently exit the Company; (6) as a result, the Company's financial results would be adversely impacted; and (7) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/vlta-shareholder-alert-jakubowitz-law-reminds-volta-shareholders-lead-plaintiff-deadline-may-31-2022/ | 2022-04-29T11:27:49Z |
NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Vertiv Holdings Co (NYSE: VRT).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/vertiv-holdings-co-loss-submission-form/?id=26471&from=4
The lawsuit seeks to recover losses for shareholders who purchased Vertiv between April 28, 2021 and February 23, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 23, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Vertiv Holdings Co issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company could not adequately respond to supply chain issues and inflation by increasing its prices; (2) as a result of the increasing costs, Vertiv's earnings would be adversely impacted; and (3) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law | https://www.whsv.com/prnewswire/2022/04/29/vrt-shareholder-alert-jakubowitz-law-reminds-vertiv-shareholders-lead-plaintiff-deadline-may-23-2022/ | 2022-04-29T11:27:56Z |
BETHESDA, Md., April 29, 2022 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it will hold a virtual Investor Day on May 19, 2022, at 10:00 a.m. Eastern Time. The event will provide an update on the company's long-term growth strategy with a specific focus on the emerging business areas of the Drive to '25. The event will feature presentations and a Q&A session with Walker & Dunlop senior management.
Analysts and investors may access the webcast via the link below:
or by dialing +1-408-901-0584, Webinar ID 849 1852 4177, Passcode 814279. Presentation materials for the Investor Day will be posted to the Investor Relations section of the Company's website. A webcast replay of the event will also be available on the Investor Relations section of the Company's website at http://investors.walkerdunlop.com/.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology make us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,000 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.
View original content:
SOURCE Walker & Dunlop, Inc. | https://www.whsv.com/prnewswire/2022/04/29/walker-amp-dunlop-announces-2022-virtual-investor-day-details/ | 2022-04-29T11:28:04Z |
Published: Apr. 29, 2022 at 3:05 AM EDT|Updated: 4 hours ago
Achieved net earnings of $771 million, or $1.03 per diluted share, and net earnings before special items of $978 million, or $1.31 per diluted share
Generated record first quarter Adjusted EBITDA of $1.5 billion
Returned over $1.3 billion of cash to shareholders
Signed first carbon capture and storage agreement for project in Louisiana
SEATTLE, April 29, 2022 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today reported first quarter net earnings of $771 million, or $1.03 per diluted share, on net sales of $3.1 billion. This compares with net earnings of $681 million, or 91 cents per diluted share, on net sales of $2.5 billion for the same period last year and net earnings of $416 million for the fourth quarter of 2021. Excluding an after-tax charge of $207 million for special items, the company reported first quarter net earnings of $978 million, or $1.31 per diluted share. This compares with net earnings before special items of $367 million for the fourth quarter of 2021. There were no special items in first quarter 2021.
Adjusted EBITDA for the first quarter of 2022 was $1.5 billion compared with $1.1 billion for the same period last year and $674 million for the fourth quarter of 2021.
"I am extremely proud of our first quarter results," said Devin W. Stockfish, president and chief executive officer. "Our teams delivered the company's strongest first quarter Adjusted EBITDA on record notwithstanding ongoing operational and supply chain challenges. In addition, we increased our base dividend by 5.9 percent and refinanced $900 million of debt in the quarter. We've also made meaningful progress towards our multi-year growth targets with the signing of our first carbon capture and storage agreement. Looking forward, we remain constructive on the demand fundamentals that will drive growth for our businesses and are well positioned to deliver superior long-term value and returns for our shareholders."
TIMBERLANDS
Q1 2022 Performance – In the West, fee harvest volumes were significantly higher than the fourth quarter and per unit log and haul costs were lower due to the seasonal transition to lower elevation harvest activity. Domestic sales realizations and sales volumes were significantly higher. Export sales realizations were significantly higher, driven by strong demand in Japan, while export sales volumes were significantly lower as the company shifted volume from China to the domestic market to capitalize on strong pricing. In the South, sales realizations for sawlogs and fiber logs were slightly higher, while fee harvest volumes were seasonally lower. Per unit log and haul costs were moderately higher, primarily due to fuel-related transportation costs. Forestry and road costs decreased seasonally.
Q2 2022 Outlook – Weyerhaeuser anticipates second quarter earnings before special items and Adjusted EBITDA will be significantly lower than the first quarter, but higher than any other quarter since fourth quarter 2018. In the West, the company expects comparable fee harvest volumes, slightly lower sales realizations, and significantly higher per unit log and haul costs. In the South, the company expects comparable sales realizations and moderately higher fee harvest volumes and per unit log and haul costs. Forestry and road costs will be seasonally higher.
REAL ESTATE, ENERGY & NATURAL RESOURCES
Q1 2022 Performance – Earnings and Adjusted EBITDA increased from the fourth quarter due to higher real estate sales. The number of acres sold increased significantly due to the timing of transactions, and the average price per acre decreased due to the mix of properties sold.
Q2 2022 Outlook – Weyerhaeuser anticipates second quarter earnings will be comparable to second quarter 2021 and Adjusted EBITDA will be slightly higher than second quarter 2021. The company expects the average basis as a percentage of sales and acres sold to be higher year over year.
WOOD PRODUCTS
Q1 2022 Performance – Sales realizations for lumber and oriented strand board increased 76 percent and 61 percent, respectively, compared with fourth quarter averages. Production volumes for lumber were moderately higher due to less weather-related downtime and planned maintenance, while sales volumes were slightly lower as a result of ongoing transportation disruptions. Log costs were significantly higher, primarily for western logs. Production volumes for oriented strand board were slightly higher due to less planned maintenance, sales volumes were moderately higher, and fiber costs were significantly higher. Sales realizations for engineered wood products improved from the fourth quarter, which was partially offset by moderately higher raw material costs, primarily for oriented strand board webstock and resin. Distribution margins improved across all products.
Q2 2022 Outlook – Weyerhaeuser anticipates second quarter earnings and Adjusted EBITDA will be higher than the first quarter, excluding the effect of changes in average sales realizations for lumber and oriented strand board. The company expects significantly higher sales volumes for lumber, as well as moderately lower log costs and unit manufacturing costs. For oriented strand board, the company expects moderately higher sales volumes, comparable fiber costs, and slightly lower unit manufacturing costs. Engineered wood products production and sales volumes are expected to be significantly higher with comparable sales realizations, partially offset by significantly higher raw material costs, primarily for oriented strand board webstock. Distribution commodity product margins are expected to be significantly lower.
UNALLOCATED
Q1 2022 Performance – First quarter results include a $59 million noncash charge for the elimination of intersegment profit in inventory and LIFO due to elevated levels of high-value inventory.
ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in North America. Our company is a real estate investment trust. In 2021, we generated $10.2 billion in net sales and employed approximately 9,200 people who serve customers worldwide. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.
EARNINGS CALL INFORMATION
Weyerhaeuser will hold a live conference call at 7 a.m. Pacific (10 a.m. Eastern) on April 29, 2022 to discuss first quarter results.
To join the conference call from within North America, dial 877-407-0792 (access code: 13724914) at least 15 minutes prior to the call. Those calling from outside North America should dial 201-689-8263 (access code: 13724914). Replays will be available for two weeks at 844-512-2921 (access code: 13724914) from within North America, and at 412-317-6671 (access code: 13724914) from outside North America.
FORWARD-LOOKING STATEMENTS
This news release contains statements concerning the company's future results and performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, with respect to our outlook and expectations concerning the following: earnings and Adjusted EBITDA for the company and for each of our businesses; log sales realizations; log and haul, forestry and road costs and expenses; fee harvest volumes; basis as a percentage of sales and acres to be sold; sales volumes, realizations, manufacturing and materials costs for our Wood Products lines; distribution commodity product margins and demand fundamentals affecting our business; and long-term shareholder value and returns. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often involve use of words and expressions such as "anticipate," "expect," "looking forward," "planned," "will," and similar words and expressions. They may use the positive, negative or another variation of those and similar words and expressions. These forward-looking statements are based on our current expectations and assumptions and are not guarantees of future events or performance. The realization of our expectations and the accuracy of our assumptions are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to:
the effect of general economic conditions, including employment rates, interest rate levels, inflation, housing starts, general availability of financing for home mortgages and the relative strength of the U.S. dollar;
the effect of COVID-19 and other viral or disease outbreaks and their potential effects on our business, results of operations, cash flows, financial condition and future prospects;
market demand for the company's products, including market demand for our timberland properties with higher and better uses, which is related to, among other factors, the strength of the various U.S. business segments and U.S. and international economic conditions;
changes in currency exchange rates, particularly the relative value of the U.S. dollar to the Japanese yen, the Chinese yuan, and the Canadian dollar, and the relative value of the euro to the yen;
restrictions on international trade and tariffs imposed on imports or exports;
the availability and cost of shipping and transportation;
economic activity in Asia, especially Japan and China;
performance of our manufacturing operations, including maintenance and capital requirements;
potential disruptions in our manufacturing operations;
the level of competition from domestic and foreign producers;
the successful execution of our internal plans and strategic initiatives, including restructuring and cost reduction initiatives;
our ability to hire and retain capable employees;
the successful and timely execution and integration of our strategic acquisitions, including our ability to realize expected benefits and synergies, and the successful and timely execution of our strategic divestitures, each of which is subject to a number of risks and conditions beyond our control including, but not limited to, timing and required regulatory approvals or the occurrence of any event, change or other circumstances that could give rise to a termination of any acquisition or divestiture transaction under the terms of the governing transaction agreements;
raw material availability and prices;
the effect of weather;
changes in global or regional climate conditions and governmental response to such changes;
the risk of loss from fires, floods, windstorms, hurricanes, pest infestation and other natural disasters;
energy prices;
transportation and labor availability and costs;
federal tax policies;
the effect of forestry, land use, environmental and other governmental regulations;
legal proceedings;
performance of pension fund investments and related derivatives;
the effect of timing of employee retirements as it relates to the cost of pension benefits and changes in the market price of our common stock on charges for share-based compensation;
the accuracy of our estimates of costs and expenses related to contingent liabilities and the accuracy of our estimates of charges related to casualty losses;
changes in accounting principles; and
other risks and uncertainties identified in our 2021 Annual Report on Form 10-K, as well as those set forth from time to time in our other public statements, reports, registration statements, prospectuses, information statements and other filings with the SEC.
It is not possible to predict or identify all risks and uncertainties that might affect the accuracy of our forward-looking statements and, consequently, our descriptions of such risks and uncertainties should not be considered exhaustive. There is no guarantee that any of the events anticipated by these forward-looking statements will occur, and if any of the events do occur, there is no guarantee what effect they will have on the company's business, results of operations, cash flows, financial condition and future prospects.
Forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
RECONCILIATION OF ADJUSTED EBITDA TO NET EARNINGS
We reconcile Adjusted EBITDA to net earnings for the consolidated company and to operating income (loss) for the business segments, as those are the most directly comparable U.S. GAAP measures for each.
The table below reconciles Adjusted EBITDA for the quarter ended December 31, 2021:
The table below reconciles Adjusted EBITDA for the quarter ended March 31, 2022:
The table below reconciles Adjusted EBITDA for the quarter ended March 31, 2021:
RECONCILIATION OF NET EARNINGS BEFORE SPECIAL ITEMS TO NET EARNINGS
We reconcile net earnings before special items to net earnings and net earnings per diluted share before special items to net earnings per diluted share, as those are the most directly comparable U.S. GAAP measures. We believe the measures provide meaningful supplemental information for investors about our operating performance, better facilitate period to period comparisons and are widely used by analysts, lenders, rating agencies and other interested parties.
The table below reconciles net earnings before special items to net earnings:
The table below reconciles net earnings per diluted share before special items to net earnings per diluted share:
RECONCILIATION OF ADJUSTED FAD TO NET CASH FROM OPERATIONS
We reconcile Adjusted FAD to net cash from operations, as that is the most directly comparable U.S. GAAP measure. We believe the measure provides meaningful supplemental information for investors about our liquidity.
The table below reconciles Adjusted FAD to net cash from operations:
For more information contact: Analysts – Andy Taylor, 206-539-3907 Media - Nancy Thompson, 919-861-0342
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc. | https://www.whsv.com/prnewswire/2022/04/29/weyerhaeuser-reports-first-quarter-results/ | 2022-04-29T11:28:11Z |
White Castle to Celebrate Historic Sales and Retail Division's 35th Birthday in May with Promotions and Activities Designed to Thank and Honor Customers and Team Members
COLUMBUS, Ohio, April 29, 2022 /PRNewswire/ -- May is National Hamburger Month, and White Castle has a lot to celebrate. Besides being the first fast-food hamburger chain in the U.S. and the pioneer of the smaller-sized burger that ultimately became known as The Original Slider, the 101-year-old family-owned business has recently reached a significant milestone: all-time sales of its burgers — The Original Slider and Cheese Slider — have surpassed 28 billion. That includes 22 billion sliders sold in restaurants and another 6 billion sold through the company's retail division.
"This is a memorable moment for White Castle, and what better time to celebrate than National Hamburger Month," said Jamie Richardson, vice president at White Castle. "We played an essential part in the introduction of the hamburger over 100 years ago. It's rewarding to see our numbers climb, reinforcing our role in the enduring popularity of the hamburger."
White Castle celebrates its version of the hamburger – the slider – all year long. But it has some special promotions and activities scheduled throughout National Hamburger Month designed to thank and honor its customers and its team members.
For the first time since 2019, White Castle will continue its long tradition of having team members from the home office work in Castles and at the company's food manufacturing plants. More than 250 team members are expected to spend a day in May either steam-grilling sliders and greeting customers or helping out on the production lines to make and package the sliders sold in retail outlets across the U.S.
"Our team members look forward to this day each year because it gives us all a chance to make some memorable moments with our colleagues and our customers," Richardson said. "It's all part of how we fulfill our vision to feed the souls of Craver generations everywhere."
White Castle will also celebrate National Hamburger Month by inducting its 2021 class into the Cravers Hall of Fame. On May 19, 10 people from across the country will join this exclusive club, which White Castle created in 2001 as a way to recognize its most loyal and passionate fans, affectionately known as Cravers. They were selected from more than 250 entries, which all described the very personal ways in which White Castle has touched their lives and created lasting memories. The induction ceremony will take place at White Castle's Columbus, Ohio, headquarters.
White Castle's very own "National Slider Day" takes place on May 15, right in the middle of National Hamburger Month. On this day dedicated to the burger that launched the fast-food industry, White Castle will offer a free Cheese Slider (no purchase necessary) to anyone with a digital coupon, which will be sent to email subscribers and posted on White Castle's social media channels.
White Castle launched its retail division in 1987, becoming the first fast-food restaurant to offer its famous fare at grocery, club and convenience stores for preparation at home. Now celebrating its 35th birthday during National Hamburger Month, the retail side of the business has turned White Castle into a successful consumer packaged goods company as well as a fast-food icon.
"You can't talk about the history of the hamburger without mentioning White Castle," Richardson said. "This month, we salute the hamburger and White Castle's role in making it available to the masses. Long Live Sliders!"
About White Castle®
White Castle, America's first fast-food hamburger chain, has been making hot and tasty Sliders as a family-owned business for 101 years. Based in Columbus, Ohio, White Castle started serving The Original Slider® in 1921. Today White Castle owns and operates more than 350 restaurants dedicated to satisfying customers' cravings morning, noon and night and sells its famous fare in retail stores nationwide. The Original Slider, named in 2014 as Time magazine's "Most Influential Burger of All Time," is served alongside a menu of creatively crafted Sliders and other mouthwatering food options, including White Castle's Impossible™ Slider, named by Thrillist in 2019 as the "Best Plant-Based Fast Food Burger." White Castle's commitment to maintaining the highest quality products extends to the company owning and operating its own meat processing plants, bakeries and frozen-food processing plants. In 2021, 100 years after the first Slider was sold, Fast Company named the fast-food pioneer one of the "10 Most Innovative Dining Companies." White Castle is known for the legendary loyalty of its team members, more than 1 in 4 of whom have worked for White Castle for at least 10 years, and also for its faithful fans ("Cravers"), many of whom compete each year for entry into the Cravers Hall of Fame. The official White Castle app, available at iTunes App Store or Google Play, makes it easy for Cravers to access sweet deals and place pickup orders at any time. They can also have their orders delivered using one of White Castle's delivery partners. For more information on White Castle, visit whitecastle.com.
View original content to download multimedia:
SOURCE White Castle | https://www.whsv.com/prnewswire/2022/04/29/white-castle-surpasses-28-billion-burgers-sold-since-founding-1921-milestone-kicks-off-national-hamburger-month/ | 2022-04-29T11:28:18Z |
WAHIAWA-- Business owners are banding together, after a string of burglaries and incidents of vandalism in Wahiawa.
Community members, Honolulu police & security professionals all attended a town hall Thursday evening.
This last week a Subway sandwich shop had a truck back into a storefront window with thieves causing thousands of dollars in damage. The newly opened Boxing gym at Wahiawa District park was also vandalized.
One business owner who had a break-in last month decided it was time to mobilize others.
"As a group we are stronger and I want to start getting people involved so we can start connecting that way. So we can be one voice instead of a lot of business owners suffering on their own. We can kind of work together and come up with solutions that actually work," Keoni Ahlo told KITV 4.
HPD's new district captain for Wahiawa attended the meeting to receive feedback from owners and concerned citizens.
"The idea that somebody would go trough all that trouble to vandalize something that just got put in for the entire community, that these two young men could have used themselves, is silly," said a concerned citizen of the vandalism at the new boxing gym.
"It's gotten really bad, but it's gotten progressively worse," bakery owner Dawn told KITV.
Do you have a story idea? Email news tips to news@kitv.com
Jeremy Lee joined KITV after over a decade & a half in broadcast news from coast to coast on the mainland. Jeremy most recently traveled the country documenting protests & civil unrest. | https://www.kitv.com/news/business-owners-band-together-against-crime/article_4db880a8-c7ac-11ec-a663-274ce355e215.html | 2022-04-29T12:16:19Z |
American killed fighting in Ukraine war, family members say
Published: Apr. 29, 2022 at 7:14 AM EDT|Updated: 1 hour ago
(Gray News) - Willy Joseph Cancel, an American fighting in Ukraine, has been killed.
Family members confirmed to CNN and other media outlets that he was killed Monday fighting alongside Ukrainians.
The former Marine, originally from New York, was 22 years old and had volunteered to go to Ukraine to join the fight against Russian invaders, family members said.
His mother, Rebecca Cabrera, told CNN that Cancel was working with a private military contracting company.
His widow, Brittany Cancel, said he leaves behind a son.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/04/29/american-killed-fighting-ukraine-war-family-members-say/ | 2022-04-29T12:39:55Z |
Ford recalls Explorer SUVs that can roll away while in park
DETROIT (AP) — Ford Motor Co. is recalling more than a quarter-million Explorer SUVs in the U.S. because they can roll away unexpectedly while shifted into park.
The recall covers certain 2020 through 2022 Explorers with 2.3-liter engines, as well as 3-liter and 3.3-liter hybrids and the 3-liter ST. Also included are 2020 and 2021 Explorer Police hybrids and those with 3.3-liter gas engines.
Documents posted Friday by U.S. safety regulators say that a rear axle mounting bolt can fracture and cause the drive shaft to disconnect. If that happens, the SUVs can roll away even if they are placed in park gear, without the parking brake on.
The documents say Ford has 235 warranty claims due to the problem. The company says it knows of no crashes or injuries.
Depending on the model, dealers will replace a bushing and the axle cover, or they will update electronic parking brake software. Owners will be notified by mail starting June 6.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/04/29/ford-recalls-explorer-suvs-that-can-roll-away-while-park/ | 2022-04-29T12:40:03Z |
Man dies after stabbed by son, police say
SOUTH BEND, Minn. (KEYC/Gray News) — Authorities said Thursday that a South Bend man who had reportedly been stabbed by his son has died.
Fifty-nine-year-old Steven Lynn Earle reportedly died around 9 p.m. Wednesday while undergoing surgery, KEYC reported.
The Blue Earth County Sheriff’s Office said that deputies were dispatched to a domestic disturbance incident between a father and son in South Bend Township Wednesday.
Earle reportedly called authorities to say that his son had assaulted him in the past and now had a knife. Dispatch was able to overhear an apparent struggle on the open 911 line while deputies were responding.
Responding deputies met 24-year-old Travis Ryan Earle outside the home.
Authorities said that Travis Earle acknowledged stabbing his father during the altercation and said that he was still inside the residence.
Travis Earle remains in the Blue Earth County Jail on charges of first-degree assault, with a request for second-degree intentional murder charges.
The investigation remains ongoing with additional assistance being provided by the Minnesota Bureau of Criminal Apprehension.
Copyright 2022 KEYC via Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/04/29/man-dies-after-stabbed-by-son-police-say/ | 2022-04-29T12:40:10Z |
If the world seems a little too cruel as of late, then there might be a song to lift your spirits:
“Love is everywhere
Just imagine
When we start to share
Our compassion
We will change the world
Watch it happen
Kindness is our prayer
Oh, Love is everywhere”
It’s difficult to misinterpret the chorus to the newly released single “Love is Everywhere,” written by Cheyenne resident Ty Warner and recurring collaborator Olivia Frances, a Cincinnati-raised, Nashville-based singer/songwriter.
“When I look at what’s going on in society globally,” Warner said. “It’s just the right time to re-emphasize that this is what we need to make our world a better place, starting in Cheyenne, starting right here in the city.”
What he’s talking about, of course, is love.
His partner on this track, which will be released Monday, might be more familiar to Cheyenne audiences than they realize.
Some might remember Frances for a string of performances in Cheyenne across multiple venues last summer. She’s also collaborated with Warner several times before.
Warner and Frances first started working on “Love is Everywhere” in November 2019. They wrote it together during a conference for the Nashville Songwriters Association International. Eventually, Nashville producer Scott Griffin signed on to the project, and this trio would go on to work for four months to complete the song.
“Love is something that wants to be captured,” Warner said. “It’s sometimes hard to find, but it’s just a fun, feel-good anthem of sorts. It soars above and tries to capture everybody in every way.”
Warner was first inspired with the title after he recalled hearing his friend’s daughter singing the line “Love is Everywhere,” in the same sing-song cadence found in the final release.
As a team, Warner handled the majority of instrumentals on the track, with Frances on vocal duties. They co-wrote the lyrics and crafted the song together, tweaking little things with the producer until things were layered to their liking.
Both Warner and Frances are proponents of positive songwriting. Frances isn’t sure why she gravitates toward the lighter side of life, but while she watches most of her fellow songwriters singing about a breakup, she’s focusing on love.
Some of her friends even approach her when they need help writing a happy song. The outcome of “Love is Everywhere” was inevitable.
“Whenever I sing a song in the studio, I try to always sing from my heart,” Frances said. “I think that with this particular song, I was picturing and singing to a bunch of children – young kids 6 or 7 years old. I’m telling them love is everywhere, make it happen in the world.”
The song will be available on major streaming platforms beginning Sunday, May 1. Olivia Frances will also give performances at the Little Bear Inn, 1700 I-25 Service Road, today and Saturday. | https://www.wyomingnews.com/features/love-is-here-with-love-is-everywhere/article_77671ea1-ee67-5488-be19-88ad81fbdc4f.html | 2022-04-29T13:54:14Z |
Back in 2001, Guy Pearce starred in Christopher Nolan’s “Memento,” a film about a man tracking down his wife’s killer while suffering from memory loss, using notes and tattoos on his body to remember clues in his search. In 2022, he’s co-starring in a film in which a contract killer suffering from early onset Alzheimer’s uses similar methods in order to keep track of details. But that’s where the comparisons between “Memento” and Martin Campbell’s “Memory” end. The former was a groundbreaking Neo-noir classic; the latter is best forgotten as soon as possible.
“Memory” is yet another entry in the Liam Neeson Gets Revenge sub-genre, a sprawling body of work that sprung up after the surprise success of the 2008 action-thriller “Taken.” You know the drill: a child or some other vulnerable person is threatened, his character has got a very particular set of skills, rescue and/or vengeance ensues. That’s at least one of the plots of “Memory,” a tangled mess of intertwining storylines and too many two-dimensional characters.
“Memory” is a remake of a 2003 Belgian crime thriller, “De zaak Alzheimer,” based on the book by Jef Geeraerts. Dario Scardapane adapted the screenplay for “Memory,” which is fairly faithful to the original. Neeson plays Alex Lewis, the aforementioned assassin with Alzheimer’s, who’s getting out of the game after one last gig. When he discovers one of his intended victims is a young teenage girl, a victim of sex trafficking by her father, who was accidentally killed in an FBI raid, Alex not only backs out, he decides to go after everyone who hired him to kill the girl in the first place.
Simultaneously, the film follows the FBI agent, Vincent Serra (Pearce) who accidentally killed the trafficked girl’s father, and now feels guilty about leaving her in a vulnerable position, stuck in a detention center, about to be deported to Mexico. But Vincent’s got a lot more on his plate, as Alex the assassin starts stacking bodies around El Paso as he works his way up the sex-trafficking food chain, which ends at the top of a Texas corporate real estate firm, which is headed up by (checks notes) Monica Bellucci?! She’s playing a mogul named Davana Sealman, who has hired Alex through a middleman to cover up evidence of her terrible son’s wrongdoings with the sex-trafficked minor.
“Memory” has a decent director in Campbell and a great cast (yes, that’s Ray Stevenson as a corrupt cop in there as well), but a crippling case of a bad script that can’t manage to make us care about any of these characters at all. The plot zigs and zags between Alex’s convoluted quest, Vincent and his motley crew of FBI investigators, and this corporate elite real estate trafficking ring, but doesn’t take the time to tell us who these people are, what they want, or why they’re doing any of this.
The original Belgian film made high-ranking government officials the villains, but wealthy businesspeople as powerful and depraved sexual predators is much more American, and the mother/son conspiracy calls to mind the terrible twosome of Jeffrey Epstein and Ghislaine Maxwell. Not that “Memory” manages to pull off any particularly trenchant social commentary such as this. The ugly digital cinematography and flat screenplay make this feel more like a very long episode of “Law & Order: SVU.”
but you’d be more entertained checking out that long-running TV procedural than this film, which isn’t worth remembering in the least. | https://www.wyomingnews.com/features/movie-review-flat-characters-tangled-plot-make-memory-forgettable/article_df457268-917d-5197-9a58-de50d02ee65d.html | 2022-04-29T13:54:21Z |
HBO Max Holocaust entry “The Survivor” tells the compelling story of Harry Haft, aka Herzko Haft, a Polish Jew who survived Auschwitz by boxing fellow inmates for the amusement of Nazi military personnel, who then executed the losers.
“The Survivor” boasts impressive credentials. Its director is Academy Award-winner Barry Levinson (“Rain Man”). In the title role is Boston-born, indie-film regular Ben Foster (“Hell or High Water”), who is Jewish on his mother’s side and who lost a shocking amount of weight to play Haft as an Auschwitz prisoner. Inevitable comparisons will be made between “The Survivor” and “Raging Bull” (1980), and there are times when Foster’s Haft seems to a distant cousin of Robert De Niro’s Italian-American Jake La Motta.
The story bangs back and forth from Auschwitz to postwar Brooklyn and Georgia, and it is shocking to see the difference between Foster in the camps, where he is skin and bones, and Foster postwar, where he at first continues to fight and continues his crusade to find Leah (Dar Zuzovsky), the girl he was in love with and with whom he was captured by the Nazis. After the war, Harry meets Emory Anderson (Peter Sarsgaard), an ambitious journalist who convinces Harry that by writing his story for the newspapers, Anderson will help to find Leah.
In the camps, Harry encounters SS Officer Dietrich Schneider (Billy Magnussen), a sports enthusiast, who decides to serve as young Harry’s trainer and manager. In the course of his search for Leah, Harry meets and befriends Jewish researcher Miriam Wofsoniker (Vicky Krieps, “Phantom Thread”), kindling a romance. In postwar scenes, Harry trains in Brooklyn with Pepe (John Leguizamo) and later is helped by trainer Charlie Goodman (Danny DeVito) before Haft’s big fight with rising light-heavyweight star Rocky Marciano aka The Brockton Blockbuster.
Foster, who is a bit old to play young Harry in Auschwitz, delivers a sometimes powerful, sometimes shaky performance as Haft, whose life story has spawned a graphic novel published in Germany. The screenplay by Justine Juel Gillmer (TV’s “The Wheel of Time”) is too often mired by histrionics, tropes and cliches. The postwar Harry loses it perhaps too many times to keep us engaged.
We hear the despicable Nazi audience in Auschwitz chant, “Jewish beast,” at Harry and a Jewish cantor singing in postwar America. Later, “God Bless America” will be sung in Yiddish. Cinematographer George Steel (“Peaky Blinders”) shoots postwar scenes in color and scenes in the camps in “Schindler’s List”-like black-and-white.
SS Officer Schneider advises Harry that in life one is either “the hammer” or “the anvil.” “Take your choice.” I’ll be the fortune cookie. Scenes of a deeply troubled Harry trying to bond with his son Alan (Kingston Vernes) do not really work. A score by Academy Award-winner Hans Zimmer (“Rain Man,” “Dune”) adds another layer of expertise to a unique and mostly well-told story that combines Holocaust film and boxing drama, but never quite rises to the heights. | https://www.wyomingnews.com/features/movie-review-the-survivor-scores-as-a-middleweight-holocaust-drama/article_b1e29c55-ff10-557c-9cec-2f4ca8b4c916.html | 2022-04-29T13:54:27Z |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.