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6 dead in New Jersey after car flies off overpass, bursts into flamesLAKE CHARLES, La. (AP) — Christian Shumate's 22 points helped McNeese defeat NCAA Division-member LeTourneau 103-69 on Saturday night. Shumate also contributed five rebounds for the Cowboys (5-4). Quadir Copeland added 20 points while shooting 7 of 8 from the field and 6 for 6 from the line while they also had nine rebounds, 11 assists, and three steals. Sincere Parker had 16 points and went 7 of 11 from the field. The Yellow Jackets were led by Deonte Jackson, who posted 21 points, five assists and seven steals. Walker Blaine added 14 points and four assists for LeTourneau. Caedmon Liebengood also had 14 points. McNeese visits Mississippi State in its next matchup on December 14. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
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Jamiya Neal's monster game leads Creighton past UNLVSANTA CLARA, Calif., Dec. 3, 2024 /PRNewswire/ -- Couchbase, Inc. (NASDAQ: BASE), the developer data platform for critical applications in our AI world, today announced financial results for its third quarter ended October 31, 2024. "I'm pleased with the continued operational progress of the entire Couchbase team," said Matt Cain, Chair, President and CEO of Couchbase. "We delivered top- and bottom-line results that exceeded our outlook, and we achieved another significant milestone with Capella, which now represents 15.1% of our ARR and one third of our customer base. I remain highly confident in our outlook and ability to achieve our objectives in fiscal 2025." Third Quarter Fiscal 2025 Financial Highlights Recent Business Highlights Financial Outlook For the fourth quarter and full year of fiscal 2025, Couchbase expects: Q4 FY2025 Outlook FY2025 Outlook Total Revenue $52.7-53.5 million $207.2-208.0 million Total ARR $236.5-239.5 million $236.5-239.5 million Non-GAAP Operating Loss $5.7-4.7 million $20.0-19.0 million The guidance provided above is based on several assumptions that are subject to change and many of which are outside our control. If actual results vary from these assumptions, our expectations may change. There can be no assurance that we will achieve these results. Couchbase is not able, at this time, to provide GAAP targets for operating loss for the fourth quarter or full year of fiscal 2025 because of the difficulty of estimating certain items excluded from non-GAAP operating loss that cannot be reasonably predicted, such as charges related to stock-based compensation expense. The effect of these excluded items may be significant. Conference Call Information Couchbase will host a live webcast at 1:30 p.m. Pacific Time (or 4:30 p.m. Eastern Time) on Tuesday, December 3, 2024, to discuss its financial results and business highlights. The conference call can be accessed by dialing 877-407-8029 from the United States, or +1 201-689-8029 from international locations. The live webcast and a webcast replay can be accessed from the investor relations page of Couchbase's website at investors.couchbase.com . About Couchbase As industries race to embrace AI, traditional database solutions fall short of rising demands for versatility, performance and affordability. Couchbase is seizing the opportunity to lead with Capella, the developer data platform for critical applications in our AI world. By uniting transactional, analytical, mobile and AI workloads into a seamless, fully-managed solution, Couchbase empowers developers and enterprises to build and scale applications with complete flexibility – delivering exceptional performance, scalability and cost-efficiency from cloud to edge and everything in between. Trusted by over 30% of the Fortune 100, Couchbase enables organizations to unlock innovation, accelerate AI transformation and redefine customer experiences wherever they happen. Discover why Couchbase is the foundation of critical everyday applications by visiting www.couchbase.com and following us on LinkedIn and X . Couchbase has used, and intends to continue using, its investor relations website and the corporate blog at blog.couchbase.com to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the corporate blog in addition to following our press releases, SEC filings and public conference calls and webcasts. Use of Non-GAAP Financial Measures In addition to our financial information presented in accordance with GAAP, we believe certain non-GAAP financial measures are useful to investors in evaluating our operating performance. We use certain non-GAAP financial measures, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, may be helpful to investors because they provide consistency and comparability with past financial performance and meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations or outlook. Non-GAAP financial measures are presented for supplemental informational purposes only, have limitations as analytical tools and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP financial measures used by other companies. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures (provided in the financial statement tables included in this press release), and not to rely on any single financial measure to evaluate our business. Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss and non-GAAP net loss per share: We define these non-GAAP financial measures as their respective GAAP measures, excluding expenses related to stock-based compensation expense, employer payroll taxes on employee stock transactions, restructuring charges and impairment of capitalized internal-use software. We use these non-GAAP financial measures in conjunction with GAAP measures to assess our performance, including in the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies and to communicate with our board of directors concerning our financial performance. For the fourth quarter of fiscal 2024, we excluded the impairment of capitalized internal-use software, a non-cash operating expense, from our non-GAAP results as it is not reflective of ongoing operating results. This impairment charge related to certain previously capitalized internal-use software that we determined would no longer be placed into service. Prior period non-GAAP financial measures have not been adjusted to reflect this change as we did not incur impairment of capitalized internal-use software in any prior period presented. Free cash flow: We define free cash flow as cash used in operating activities less additions to property and equipment, which includes capitalized internal-use software costs. We believe free cash flow is a useful indicator of liquidity that provides our management, board of directors and investors with information about our future ability to generate or use cash to enhance the strength of our balance sheet and further invest in our business and pursue potential strategic initiatives. Please see the reconciliation tables at the end of this press release for the reconciliation of GAAP and non-GAAP results. Key Business Metrics We review a number of operating and financial metrics, including ARR, to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. We define ARR as of a given date as the annualized recurring revenue that we would contractually receive from our customers in the month ending 12 months following such date. Based on historical experience with customers, we assume all contracts will be renewed at the same levels unless we receive notification of non-renewal and are no longer in negotiations prior to the measurement date. For Capella products, ARR in a customer's initial year is calculated as the greater of: (i) initial year contract revenue as described above or (ii) annualized prior 90 days of actual consumption; and ARR for subsequent years is calculated with method (ii). ARR excludes services revenue. Prior to fiscal 2025, ARR excluded on-demand revenue and, for Capella products in a customer's initial year, ARR was calculated solely on the basis of initial year contract revenue. The reason for these changes is to better reflect ARR where usage rates or timing of purchases may be uneven and to better align with how ARR is used to measure the performance of the business. ARR for prior periods has not been adjusted to reflect this change as it is not material to any period previously presented. ARR should be viewed independently of revenue, and does not represent our revenue under GAAP on an annualized basis, as it is an operating metric that can be impacted by contract start and end dates and renewal dates. ARR is not intended to be a replacement for forecasts of revenue. Although we seek to increase ARR as part of our strategy of targeting large enterprise customers, this metric may fluctuate from period to period based on our ability to acquire new customers, expand within our existing customers and consumption dynamics. We believe that ARR is an important indicator of the growth and performance of our business. We also attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates within the current period. We calculate constant currency growth rates by applying the applicable prior period exchange rates to current period results. Forward-Looking Statements This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, quotations of management, the section titled "Financial Outlook" above and statements about the expected client demand for and benefits of our offerings, the impact of our recently-released and planned products and services and our market position, strategies and potential market opportunities. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements include all statements that are not historical facts and, in some cases, can be identified by terms such as "anticipate," "expect," "intend," "plan," "believe," "continue," "could," "potential," "remain," "may," "might," "will," "would" or similar expressions and the negatives of those terms. However, not all forward-looking statements contain these identifying words. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including factors beyond our control, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to: our history of net losses and ability to achieve or maintain profitability in the future; our ability to continue to grow on pace with historical rates; our ability to manage our growth effectively; intense competition and our ability to compete effectively; cost-effectively acquiring new customers or obtaining renewals, upgrades or expansions from our existing customers; the market for our products and services being highly competitive and evolving, and our future success depending on the growth and expansion of this market; our ability to innovate in response to changing customer needs, new technologies or other market requirements, including new capabilities, programs and partnerships and their impact on our customers and our business; our limited operating history, which makes it difficult to predict our future results of operations; the significant fluctuation of our future results of operations and ability to meet the expectations of analysts or investors; our significant reliance on revenue from subscriptions, which may decline and, the recognition of a significant portion of revenue from subscriptions over the term of the relevant subscription period, which means downturns or upturns in sales are not immediately reflected in full in our results of operations; and the impact of geopolitical and macroeconomic factors. Further information on risks that could cause actual results to differ materially from forecasted results are included in our filings with the Securities and Exchange Commission that we may file from time to time, including those more fully described in our Annual Report on Form 10-K for the fiscal year ended January 31, 2024. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2024 that will be filed with the Securities and Exchange Commission, which should be read in conjunction with this press release and the financial results included herein. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. Couchbase, Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Revenue: License $ 4,343 $ 4,577 $ 16,444 $ 14,318 Support and other 44,955 39,420 131,185 109,175 Total subscription revenue 49,298 43,997 147,629 123,493 Services 2,330 1,816 6,915 6,455 Total revenue 51,628 45,813 154,544 129,948 Cost of revenue: Subscription(1) 4,866 3,549 13,278 11,067 Services(1) 1,690 1,562 5,423 5,875 Total cost of revenue 6,556 5,111 18,701 16,942 Gross profit 45,072 40,702 135,843 113,006 Operating expenses: Research and development(1) 17,486 15,903 52,703 47,578 Sales and marketing(1) 34,196 31,602 108,119 96,503 General and administrative(1) 12,624 10,739 37,843 30,823 Restructuring(1) — — — 46 Total operating expenses 64,306 58,244 198,665 174,950 Loss from operations (19,234) (17,542) (62,822) (61,944) Interest expense (17) — (46) (43) Other income, net 1,790 1,298 5,062 3,986 Loss before income taxes (17,461) (16,244) (57,806) (58,001) Provision for income taxes 691 11 1,236 780 Net loss $ (18,152) $ (16,255) $ (59,042) $ (58,781) Net loss per share, basic and diluted $ (0.35) $ (0.34) $ (1.16) $ (1.26) Weighted-average shares used in computing net loss per share, basic and diluted 51,831 47,586 50,821 46,724 (1) Includes stock-based compensation expense as follows: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Cost of revenue—subscription $ 318 $ 130 $ 885 $ 559 Cost of revenue—services 104 119 354 413 Research and development 4,497 3,116 12,704 9,498 Sales and marketing 5,242 4,188 16,627 11,461 General and administrative 5,127 4,202 15,501 11,216 Restructuring — — — 1 Total stock-based compensation expense $ 15,288 $ 11,755 $ 46,071 $ 33,148 Couchbase, Inc. Condensed Consolidated Balance Sheets (in thousands) (unaudited) As of October 31, 2024 As of January 31, 2024 Assets Current assets Cash and cash equivalents $ 33,031 $ 41,351 Short-term investments 108,908 112,281 Accounts receivable, net 28,514 44,848 Deferred commissions 13,297 15,421 Prepaid expenses and other current assets 10,551 10,385 Total current assets 194,301 224,286 Property and equipment, net 7,000 5,327 Operating lease right-of-use assets 5,497 4,848 Deferred commissions, noncurrent 14,485 11,400 Other assets 1,176 1,891 Total assets $ 222,459 $ 247,752 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 4,724 $ 4,865 Accrued compensation and benefits 12,323 18,116 Other accrued expenses 3,981 4,581 Operating lease liabilities 2,150 3,208 Deferred revenue 67,996 81,736 Total current liabilities 91,174 112,506 Operating lease liabilities, noncurrent 3,678 2,078 Deferred revenue, noncurrent 829 2,747 Total liabilities 95,681 117,331 Stockholders' equity Preferred stock — — Common stock — — Additional paid-in capital 676,360 621,024 Accumulated other comprehensive income 119 56 Accumulated deficit (549,701) (490,659) Total stockholders' equity 126,778 130,421 Total liabilities and stockholders' equity $ 222,459 $ 247,752 Couchbase, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Cash flows from operating activities Net loss $ (18,152) $ (16,255) $ (59,042) $ (58,781) Adjustments to reconcile net loss to net cash used in operating activities Depreciation and amortization 757 399 1,520 2,034 Stock-based compensation, net of amounts capitalized 15,288 11,755 46,071 33,148 Amortization of deferred commissions 4,375 4,500 12,655 13,742 Non-cash lease expense 863 765 2,393 2,313 Foreign currency transaction losses (gains) (60) 484 231 649 Other (456) (804) (1,869) (2,580) Changes in operating assets and liabilities Accounts receivable 2,912 1,577 16,207 9,114 Deferred commissions (5,367) (4,746) (13,616) (13,892) Prepaid expenses and other assets (606) 955 (163) 837 Accounts payable (295) (10) (149) 1,735 Accrued compensation and benefits (1,799) (1,763) (5,790) (3,517) Other Accrued Expenses 632 (1,126) (475) (2,997) Operating lease liabilities (876) (838) (2,501) (2,561) Deferred revenue (14,111) (7,636) (15,658) 313 Net cash used in operating activities (16,895) (12,743) (20,186) (20,443) Cash flows from investing activities Purchases of short-term investments (37,809) (26,141) (75,614) (90,456) Maturities of short-term investments 23,000 41,854 81,144 111,974 Additions to property and equipment (583) (1,066) (2,645) (3,425) Net cash (used in) provided by investing activities (15,392) 14,647 2,885 18,093 Cash flows from financing activities Proceeds from exercise of stock options 1,115 2,703 5,251 7,353 Proceeds from issuance of common stock under ESPP 1,720 1,153 3,515 2,000 Net cash provided by financing activities 2,835 3,856 8,766 9,353 Effect of exchange rate changes on cash, cash equivalents and restricted cash (124) (290) (328) (542) Net (decrease) increase in cash, cash equivalents and restricted cash (29,576) 5,470 (8,863) 6,461 Cash, cash equivalents, and restricted cash at beginning of period 62,607 41,980 41,894 40,989 Cash, cash equivalents, and restricted cash at end of period $ 33,031 $ 47,450 $ 33,031 $ 47,450 Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown above: Cash and cash equivalents $ 33,031 $ 46,907 $ 33,031 $ 46,907 Restricted cash included in other assets — 543 — 543 Total cash, cash equivalents and restricted cash $ 33,031 $ 47,450 $ 33,031 $ 47,450 Couchbase, Inc. Reconciliation of GAAP to Non-GAAP Results (in thousands, except per share data) (unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of GAAP gross profit to non-GAAP gross profit: Total revenue $ 51,628 $ 45,813 $ 154,544 $ 129,948 Gross profit $ 45,072 $ 40,702 $ 135,843 $ 113,006 Add: Stock-based compensation expense 422 249 1,239 972 Add: Employer taxes on employee stock transactions 22 55 120 86 Non-GAAP gross profit $ 45,516 $ 41,006 $ 137,202 $ 114,064 Gross margin 87.3 % 88.8 % 87.9 % 87.0 % Non-GAAP gross margin 88.2 % 89.5 % 88.8 % 87.8 % Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of GAAP operating expenses to non-GAAP operating expenses: GAAP research and development $ 17,486 $ 15,903 $ 52,703 $ 47,578 Less: Stock-based compensation expense (4,497) (3,116) (12,704) (9,498) Less: Employer taxes on employee stock transactions (106) (199) (585) (430) Non-GAAP research and development $ 12,883 $ 12,588 $ 39,414 $ 37,650 GAAP sales and marketing $ 34,196 $ 31,602 $ 108,119 $ 96,503 Less: Stock-based compensation expense (5,242) (4,188) (16,627) (11,461) Less: Employer taxes on employee stock transactions (275) (327) (1,378) (777) Non-GAAP sales and marketing $ 28,679 $ 27,087 $ 90,114 $ 84,265 GAAP general and administrative $ 12,624 $ 10,739 $ 37,843 $ 30,823 Less: Stock-based compensation expense (5,127) (4,202) (15,501) (11,216) Less: Employer taxes on employee stock transactions (64) (176) (391) (264) Non-GAAP general and administrative $ 7,433 $ 6,361 $ 21,951 $ 19,343 Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of GAAP operating loss to non-GAAP operating loss: Total revenue $ 51,628 $ 45,813 $ 154,544 $ 129,948 Loss from operations $ (19,234) $ (17,542) $ (62,822) $ (61,944) Add: Stock-based compensation expense 15,288 11,755 46,071 33,147 Add: Employer taxes on employee stock transactions 467 757 2,474 1,557 Add: Restructuring(2) — — — 46 Non-GAAP operating loss $ (3,479) $ (5,030) $ (14,277) $ (27,194) Operating margin (37) % (38) % (41) % (48) % Non-GAAP operating margin (7) % (11) % (9) % (21) % Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of GAAP net loss to non-GAAP net loss: Net loss $ (18,152) $ (16,255) $ (59,042) $ (58,781) Add: Stock-based compensation expense 15,288 11,755 46,071 33,147 Add: Employer taxes on employee stock transactions 467 757 2,474 1,557 Add: Restructuring(2) — — — 46 Non-GAAP net loss $ (2,397) $ (3,743) $ (10,497) $ (24,031) GAAP net loss per share $ (0.35) $ (0.34) $ (1.16) $ (1.26) Non-GAAP net loss per share $ (0.05) $ (0.08) $ (0.21) $ (0.51) Weighted average shares outstanding, basic and diluted 51,831 47,586 50,821 46,724 (2) For the nine months ended October 31, 2023, an immaterial amount of stock-based compensation expense related to restructuring charges was included in the restructuring expense line. The following table presents a reconciliation of free cash flow to net cash provided by (used in) operating activities, the most directly comparable GAAP measure, for each of the periods indicated (in thousands, unaudited): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Net cash used in operating activities $ (16,895) $ (12,743) $ (20,186) $ (20,443) Less: Additions to property and equipment (583) (1,066) (2,645) (3,425) Free cash flow $ (17,478) $ (13,809) $ (22,831) $ (23,868) Net cash (used in) provided by investing activities $ (15,392) $ 14,647 $ 2,885 $ 18,093 Net cash provided by financing activities $ 2,835 $ 3,856 $ 8,766 $ 9,353 Couchbase, Inc. Key Business Metrics (in millions) (unaudited) As of Jan. 31, April 30, July 31, Oct. 31, Jan. 31, April 30, July 31, Oct. 31, 2023 2023 2023 2023 2024 2024 2024 2024 Annual Recurring Revenue $ 163.7 $ 172.2 $ 180.7 $ 188.7 $ 204.2 $ 207.7 $ 214.0 $ 220.3 View original content to download multimedia: https://www.prnewswire.com/news-releases/couchbase-announces-third-quarter-fiscal-2025-financial-results-302321531.html SOURCE Couchbase, Inc. Copyright © 2024 PR Newswire Association LLC. All Rights Reserved.
NEW YORK (AP) – United States (US) stocks rose to records on Friday after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation. The S&P 500 climbed 0.2 per cent, just enough top the all-time high set on Wednesday, as it closed a third straight winning week in what looks to be one of its best years since the 2000 dot-com bust. The Dow Jones Industrial Average dipped 123.19 points, or 0.3 per cent, while the Nasdaq composite rose 0.8 per cent to set its own record. The quiet trading came after the latest jobs report came in mixed enough to strengthen traders’ expectations that the Federal Reserve (Fed) will cut interest rates again at its next meeting in two weeks. The report showed US employers hired more workers than expected last month, but it also said the unemployment rate unexpectedly ticked up to 4.2 per cent from 4.1 per cent. “This print doesn’t kill the holiday spirit and the Fed remains on track to deliver a cut in December,” according to head of multi-sector investing within Goldman Sachs Asset Management Lindsay Rosner. The Fed has been easing its main interest rate from a two-decade high since September to offer more help for the slowing job market, after bringing inflation nearly all the way down to its two per cent target. Lower interest rates can ease the brakes off the economy, but they can also offer more fuel for inflation. Expectations for a series of cuts from the Fed have been a major reason the S&P 500 has set an all-time high 57 times so far this year. And the Fed is part of a global surge: 62 central banks have lowered rates in the past three months, the most since 2020, according to Michael Hartnett and other strategists at Bank of America. Still, the jobs report may have included some notes of caution for Fed officials underneath the surface. Senior global market strategist at Wells Fargo Investment Institute Scott Wren pointed to average wages for workers last month, which were a touch stronger than economists expected. While that’s good news for workers who would always like to make more, it could keep upward pressure on inflation. “This report tells the Fed that they still need to be careful as sticky housing/shelter/wage data shows that it won’t be easy to engineer meaningfully lower inflation from here in the nearer term,” Wren said. So, while traders are betting on an 85 per cent probability the Fed will ease its main rate in two weeks, they’re much less certain about how many more cuts it will deliver next year, according to data from CME Group. For now, the hope is that the job market can help US shoppers continue to spend and keep the US economy out of a recession that had earlier seemed inevitable after the Fed began hiking interest rates swiftly to crush inflation. Several retailers offered encouragement after delivering better-than-expected results for the latest quarter. Ulta Beauty rallied nine per cent after topping expectations for both profit and revenue. The opening of new stores helped boost its revenue, and it raised the bottom end of its forecasted range for sales over this full year. Lululemon stretched 15.9 per cent higher following its own profit report. It said stronger sales outside the US helped it in particular, and its earnings topped analysts’ expectations. Retailers overall have been offering mixed signals on how resilient US shoppers can remain amid the slowing job market and still-high prices. Target gave a dour forecast for the holiday shopping season, for example, while Walmart gave a much more encouraging outlook. A report on Friday suggested sentiment among US consumers may be improving more than economists expected. The preliminary reading from the University of Michigan’s survey hit its highest level in seven months. The survey found a surge in buying for some products as consumers tried to get ahead of possible increases in price due to higher tariffs that President-elect Donald Trump has threatened. In tech, Hewlett Packard Enterprise jumped 10.6 per cent for one of the S&P 500’s larger gains after reporting stronger profit and revenue than expected. Tech stocks were some of the market’s strongest this week, as Salesforce and other big companies talked up how much of a boost they’re getting from the artificial-intelligence (AI) boom. All told, the S&P 500 rose 15.16 points to 6,090.27. The Dow dipped 123.19 to 44,642.52, and the Nasdaq composite climbed 159.05 to 19,859.77. In the bond market, the yield on the 10-year Treasury yield slipped to 4.15 per cent from 4.18 per cent late Thursday. In stock markets abroad, France’s CAC 40 rose 1.3 per cent after French President Emmanuel Macron announced plans to stay in office until the end of his term and to name a new prime minister within days. Earlier this week, far-right and left-wing lawmakers approved a no-confidence motion due to budget disputes, forcing Prime Minister Michel Barnier and his Cabinet to resign. In Asia, stock indexes were mixed. They rallied 1.6 per cent in Hong Kong and one per cent in Shanghai ahead of an annual economic policy meeting scheduled for next week. South Korea’s Kospi dropped 0.6 per cent as South Korea’s ruling party chief showed support for suspending the constitutional powers of President Yoon Suk-yeol after he declared martial law and then revoked that earlier this week. Yoon is facing calls to resign and may be impeached. Bitcoin was sitting near USD101,500 after briefly bursting above USD103,000 to a record the day before.
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PARIS — Howling winds couldn’t stop Notre Dame Cathedral ’s heart from beating again. People stand outside Notre-Dame Cathedral on Nov. 29 in Paris. With three resounding knocks on its doors by Paris Archbishop Laurent Ulrich, wielding a specially designed crosier carved from fire-scorched beams, the monument roared back to life Saturday evening. For the first time since a devastating blaze nearly destroyed it in 2019, the towering Gothic masterpiece reopened for worship, its rebirth marked by song, prayer, and awe beneath its soaring arches. The ceremony, initially planned to begin on the forecourt, was moved entirely inside due to unusually fierce December winds sweeping across the Île de la Cité, flanked by the River Seine. Yet the occasion lost none of its splendor. Inside the luminous nave, choirs sang psalms, and the cathedral’s mighty organ, silent for nearly five years, thundered to life in a triumphant interplay of melodies. The vaulted ceiling of the Notre-Dame cathedral is seen Nov. 29 in Paris. The restoration, a spectacular achievement in just five years for a structure that took nearly two centuries to build, is seen as a moment of triumph for French President Emmanuel Macron, who championed the ambitious timeline — and a welcome respite from his domestic political woes. The evening’s celebration, attended by 1,500 dignitaries, including President-elect Donald Trump, US first lady Jill Biden, Britain’s Prince William, and Ukrainian President Volodymyr Zelenskyy, underscored Notre Dame’s enduring role as both a spiritual and cultural beacon. Observers see the event as Macron's, and his intention to pivot it into a fully fledged diplomatic gathering, while highlighting France’s ability to unite on the global stage despite internal political crises. France's iconic Notre Dame Cathedral is formally reopening its doors on Saturday for the first time since a devastating fire nearly destroyed ... As the cathedral’s largest bell, the 13-ton Emmanuel — which was not named after the French leader — tolled into the Paris night, signaling the start of the ceremony, the crowd inside Notre Dame fell into an expectant hush. Emmanuel, a legacy of King Louis XIV, had rung through centuries of French history, and its peal now resonated as a call to witness another epochal moment. Outside the cathedral’s monumental doors, Ulrich raised his fire-scarred crosier. “Brothers and sisters, let us enter now into Notre Dame,” he declared. “It is she who accompanies us on our path to peace.” With the congregation of over 2,500 people watching in silence, Ulrich struck the floodlit doors, the base of his crosier reverberating against the wood. Inside, the choir answered with soaring hymns, their voices filling the nave. Illuminations on the cathedral facade heightened the drama. On the final strike, the heavy doors swung open, revealing the glowing interior of restored blond Lutetian limestone. Adding to the ceremony’s visual splendor, Ulrich and the clergy wore vibrant liturgical garments designed by French fashion designer Jean-Charles de Castelbajac. Known for his signature pop-art aesthetic, Castelbajac created 2,000 colorful pieces for 700 celebrants, blending modern elements with medieval touches. Flooded with light and song, the cathedral came alive in a moment of breathtaking spectacle. What had been a silent, soot-blackened ruin five years ago now blazed with renewed vitality, marking the culmination of a nearly $1 billion global effort to resurrect it. Speaking inside the cathedral, Macron expressed “gratitude” Saturday to those who saved, helped, and rebuilt Notre Dame, his voice reverberating through the nave. People gather near France's iconic Notre Dame Cathedral, hours before formally reopening its doors for the first time since a devastating fire nearly destroyed the 861-year-old landmark in 2019, on Saturday in Paris. “I stand before you ... to express the gratitude of the French nation,” he said, before voices flooded the space with song, harmonies not heard in over five years. “Tonight, the bells of Notre Dame are ringing again. And in a moment, the organ will awaken,” sending the “music of hope” cascading through the luminous interior to Parisians, France, and the world beyond, he said. The celebration is expected to give a much-needed boost to the embattled French leader, whose prime minister was ousted this week, plunging the nation’s politics into more turmoil. Macron has called Notre Dame’s reopening “a jolt of hope.” Observers say he hoped the occasion would briefly silence his critics and showcase France’s unity and resilience under his leadership — a rare moment of grace in a presidency now facing a grave crisis. Inside Notre Dame, 42,000 square meters of stonework—equivalent to six soccer pitches—gleamed anew, revealing intricate carvings and luminous limestone. Above, 2,000 oak beams, nicknamed “the forest,” restored the cathedral’s iconic spire and roof. The great organ, dormant for over five years, roared back to life like a slumbering giant. With its 7,952 pipes—ranging from pen-sized to torso-wide—and a renovated console featuring five keyboards, 115 stops, and 30 foot pedals, it responded to Archbishop Laurent Ulrich’s command: “Wake up, organ, sacred instrument.” Notre Dame's thunderous great organ was heard in public for the first time since 2019 at the cathedral's reopening ceremony Saturday night. The first low rumble grew into a triumphant symphony as four organists pulled out the stops, weaving improvised responses to the archbishop’s invocations. Eight times, Ulrich addressed the organ; eight times, its voice filled the nave with breathtaking sound. Guests marveled at the spectacle, many capturing the moment on their phones. “It’s a sense of perfection,” said François Le Page of the Notre Dame Foundation, who last saw the cathedral cloaked in scaffolding in 2021. “It was somber then. Now, it’s night and day.” The Rev. Andriy Morkvas, a Ukrainian priest who leads the Volodymyr Le Grand church in Paris, reflected on his first visit to Notre Dame in over a decade. “I didn’t recognize it,” he said. “God is very powerful; He can change things.” He expressed hope that the cathedral’s revival could inspire peace in his homeland, drawing strength from the presence of Ukraine’s president. “I think that will have a big impact,” he said. “I hope Notre Dame and Mary will help us resolve this conflict.” The reopening of Notre Dame comes at a time of profound global unrest, with wars raging in Ukraine and the Middle East. For Catholics, Notre Dame’s rector said the cathedral “carries the enveloping presence of the Virgin Mary, a maternal and embracing presence.′′ “It is a magnificent symbol of unity,” Olivier Ribadeau Dumas said. “Notre Dame is not just a French monument — it is a magnificent sign of hope.” The international range of dignitaries coming to Paris underline the cathedral’s significance as a symbol of shared heritage and peace. Canadian visitor Noelle Alexandria, who had traveled to Paris for the reopening, was struck by the cathedral’s ability to inspire. “She’s been nearly ruined before, but she always comes back,” Alexandria said. “Not many of us could say the same after such tragedy, but Notre Dame can.” Guests entered through Notre Dame’s iconic western façade, whose arched portals adorned with biblical carvings were once a visual guide for medieval believers. Above the central Portal of the Last Judgment, the Archangel Michael is depicted weighing souls, as demons attempt to tip the scales. These stone figures, designed to inspire both awe and fear, set the stage for a ceremony steeped in history. Inside, the hum of hundreds of guests awaiting the service filled the cathedral with human sounds once more — a stark contrast to the construction din that echoed there for years. Tuners restoring the great organ often worked through the night to find the silence needed to perfect its 7,952 pipes, ranging from pen-sized to torso-wide. Notre Dame echoed to the sound of a sustained standing ovation after the showing of a short movie that documented the gargantuan rebuilding effort. Outside, the word “MERCI” — thank you — was projected against the cathedral’s iconic western facade. The movie showed the terrible wounds left by the inferno — the gaping holes torn into its vaulted ceilings and the burned roof. But that was followed by images of all types of artisans, many using traditional handicraft techniques, who collectively restored Notre Dame to look better now than ever. "We went from night to light," said one of the workers in the movie. Security will be high through the weekend, echoing measures taken during the Paris Olympics earlier this year. The Île de la Cité — the small island in the River Seine that is home to Notre Dame and the historic heart of Paris— is closed to tourists and non-residents. Police vans and barriers blocked cobblestoned streets in a large perimeter around the island, while soldiers in thick body armor and sniffer dogs patrolled embankments. A special security detail followed Trump. For many, Notre Dame’s rebirth is not just a French achievement but a global one — after the reopening, the cathedral is set to welcome 15 million visitors annually, up from 12 million before the fire. People stand outside Notre-Dame Cathedral in Paris, Friday Nov. 29 2024 before French President Emmanuel Macron's final visit to the construction site to see the restored interiors before the iconic monument's reopening for worship on Dec. 8. (Sarah Meyssonnier, Pool via AP) The tabernacle of Notre-Dame de Paris cathedral is seen while French President Emmanuel Macron visits the restored interiors of the monument, Friday Nov. 29, 2024, in Paris. (Stephane de Sakutin, Pool via AP) The vaulted ceiling of the Notre-Dame cathedral is seen while French President Emmanuel Macron visits the restored interiors of the monument, Friday, Nov. 29, 2024 in Paris. (Sarah Meyssonnier/Pool via AP) Windows in the heart of Notre-Dame de Paris cathedral are seen while French President Emmanuel Macron visits the restored interiors of the monument, Friday Nov. 29, 2024, in Paris. (Stephane de Sakutin, Pool via AP) People stroll in Notre-Dame de Paris cathedral while French President Emmanuel Macron visits the restored interiors the monument, Friday, Nov.29, 2024 in Paris. (Christophe Petit Tesson, Pool via AP) French President Emmanuel Macron, center, and his wife Brigitte Macron visit the restored interiors of the Notre-Dame de Paris cathedral, Friday, Nov.29, 2024 in Paris. (Christophe Petit Tesson, Pool via AP) French President Emmanuel Macron, third right, and his wife Brigitte Macron visit the restored interiors of the Notre-Dame de Paris cathedral, Friday, Nov.29, 2024 in Paris. (Christophe Petit Tesson, Pool via AP) People gather as French President Emmanuel Macron visits the renovated Notre Dame Cathedral Friday, Nov. 29, 2024 in Paris. (AP Photo/Michel Euler) French President Emmanuel Macron gestures as he visits the restored interiors of the Notre-Dame de Paris cathedral, Friday, Nov.29, 2024 in Paris. (Christophe Petit Tesson, Pool via AP) The nave, the western Rose window and the organ of Notre-Dame de Paris cathedral are seen while French President Emmanuel Macron visits the restored interiors of the monument, Friday Nov. 29, 2024, in Paris. (Stephane de Sakutin, Pool via AP) A man takes a picture of Notre Dame Cathedral as French President Emmanuel Macron visits the renovated cathedral, Friday, Nov. 29, 2024 in Paris. (AP Photo/Michel Euler) The nave of Notre-Dame de Paris cathedral is seen while French President Emmanuel Macron visits the restored interiors of the cathedral, Friday Nov. 29, 2024, in Paris. (Stephane de Sakutin, Pool via AP) People stroll in Notre-Dame de Paris cathedral while French President Emmanuel Macron visits the restored interiors the monument, Friday, Nov.29, 2024 in Paris. (Christophe Petit Tesson, Pool via AP) The South Rose stainglass window of Notre-Dame de Paris cathedral is seen while French President Emmanuel Macron visits the restored interiors of the cathedral, Friday Nov. 29, 2024, in Paris. (Stephane de Sakutin, Pool via AP) The South Rose stainglass window of Notre-Dame de Paris cathedral is seen while French President Emmanuel Macron visits the restored interiors of the cathedral, Friday Nov. 29, 2024, in Paris. (Stephane de Sakutin, Pool via AP) The nave of Notre-Dame de Paris cathedral is seen while French President Emmanuel Macron visits the restored interiors of the cathedral, Friday Nov. 29, 2024, in Paris. (Stephane de Sakutin, Pool via AP) Part of the nave and the organ of Notre-Dame de Paris cathedral are seen while French President Emmanuel Macron visits the restored interiors of the cathedral, Friday Nov. 29, 2024, in Paris. (Stephane de Sakutin, Pool via AP) The altar designed by French artist and designer Guillaume Bardet is seen in the heart of Notre-Dame de Paris cathedral while French President Emmanuel Macron visits the restored interiors of the monument, Friday Nov. 29, 2024, in Paris. (Stephane de Sakutin, Pool via AP) The altar designed by French artist and designer Guillaume Bardet is seen in the heart of Notre-Dame de Paris cathedral while French President Emmanuel Macron visits the restored interiors of the monument, Friday Nov. 29, 2024, in Paris. (Stephane de Sakutin, Pool via AP) The facade of Notre-Dame de Paris cathedral in Paris, is seen Friday Nov. 29, 2024, ahead of French President Emmanuel Macron's final visit to the construction site to see the restored interiors. (Stephane de Sakutin, Pool via AP) The facade of Notre-Dame Cathedral is seen in Paris, Friday Nov., 29 2024 ahead of French President Emmanuel Macron's final visit to the construction site to see the restored interiors before the iconic monument's reopening for worship on Dec. 8. (Christophe Petit Tesson, Pool via AP) Part of the facade of Notre-Dame Cathedral is seen in Paris, Friday Nov., 29 2024 ahead of French President Emmanuel Macron's final visit to the construction site to see the restored interiors before the iconic monument's reopening for worship on Dec. 8. (Christophe Petit Tesson, Pool via AP) People stand inside Notre-Dame Cathedral in Paris, Friday Nov. 29 2024 before French President Emmanuel Macron's final visit to the construction site to see the restored interiors before the iconic monument's reopening for worship on Dec. 8. (Sarah Meyssonnier, Pool via AP) Get local news delivered to your inbox!Gus Atkinson claimed a superb hat-trick as England took command of the second Test against New Zealand, knocking over the home side’s tail in style. The Surrey seamer took out Nathan Smith, Matt Henry and Tim Southee with three successive deliveries, the 15th time an English bowler has achieved the feat in Test cricket. Atkinson turned the heat on the Black Caps in his ninth over, racking up three different modes of dismissal to end their innings on 125 and hand the tourists a lead of 155. Somewhere in this picture is Gus Atkinson... pic.twitter.com/0tSUbuMANu — England Cricket (@englandcricket) December 6, 2024 The 26-year-old uprooted Smith’s middle stump with the third ball of his over, then had Henry backing away from a short ball that he fended to Ben Duckett at gully. Last man Tim Southee stood between Atkinson and a place in the history books but had no answer as the ball came full and straight, smashing his front pad dead in front of middle stump. Southee reviewed the lbw decision in hope more than expectation but England’s celebrations were already well under way. Rod Tucker raised his finger for a second time to seal the deal, with Atkinson registering the 50th Test hat-trick in world cricket – 47 in the men’s game and three in the women’s. The last player to get one was South Africa’s Keshav Maharaj in 2021, with Moeen Ali the most recent to do so for England, against the Proteas at the Oval in 2017. Stuart Broad took two in his career, making Atkinson the 14th England player on the list. Brydon Carse had earlier dismissed Tom Blundell and Will O’Rourke in the space of three deliveries as New Zealand lost their last five batters for 39.
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