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REDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec 9, 2024-- Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern business, today announced financial results for its fiscal third quarter ended October 31, 2024. Descriptions of our non-GAAP financial measures are contained in the section titled "Explanation of Non-GAAP Financial Measures" below and reconciliations of GAAP and non-GAAP financial measures are contained in the tables below. On October 17, 2024, we announced that Zuora entered into a definitive agreement to be acquired by Silver Lake, the global leader in technology investing, in partnership with an affiliate of GIC Pte. Ltd. (“GIC”). The transaction is valued at $1.7 billion, with Silver Lake and GIC to acquire all outstanding shares of Zuora common stock for $10.00 per share in cash. The acquisition is expected to close in the first calendar quarter of 2024, subject to customary closing conditions and approvals, including the receipt of the required regulatory approvals. Upon completion of the transaction, Zuora will become a privately held company. Given the proposed acquisition of Zuora, we will not be holding a conference call or live webcast to discuss Zuora's third quarter of fiscal 2025 financial results, we will not be providing any forward looking guidance, and we are withdrawing all previously provided goals, outlook, and guidance. . We define ACV as the subscription revenue we would contractually expect to recognize from a customer over the next twelve months, assuming no increases or reductions in their subscriptions. We define the number of customers at the end of any particular period as the number of parties or organizations that have entered into a distinct subscription contract with us and for which the term has not ended. Each party with whom we have entered into a distinct subscription contract is considered a unique customer, and in some cases, there may be more than one customer within a single organization. . We calculate DBRR as of a period end by starting with the sum of the ACV from all customers as of twelve months prior to such period end, or prior period ACV. We then calculate the sum of the ACV from these same customers as of the current period end, or current period ACV. Current period ACV includes any upsells and also reflects contraction or attrition over the trailing twelve months but excludes revenue from new customers added in the current period. We then divide the current period ACV by the prior period ACV to arrive at our dollar-based retention rate. ARR represents the annualized recurring value at the time of initial booking or contract modification for all active subscription contracts at the end of a reporting period. ARR excludes the value of non-recurring revenue such as professional services revenue as well as contracts with new customers with a term of less than one year. ARR should be viewed independently of revenue and deferred revenue, and is not intended to be a substitute for, or combined with, any of these items. ARR growth is calculated by dividing the ARR as of a period end by the ARR for the corresponding period end of the prior fiscal year. In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release and the accompanying tables contain non-GAAP financial measures including: non-GAAP cost of subscription revenue; non-GAAP subscription gross margin; non-GAAP cost of professional services revenue; non-GAAP professional services gross margin; non-GAAP gross profit; non-GAAP gross margin; non-GAAP income from operations; non-GAAP operating margin; non-GAAP net income; non-GAAP net income per share; and adjusted free cash flow. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. We use non-GAAP financial measures in conjunction with GAAP measures as part of our overall assessment of our performance, including 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. We believe these non-GAAP measures provide investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of our operating results. We also believe these non-GAAP measures are useful in evaluating our operating performance compared to that of other companies in our industry, as they generally eliminate the effects of certain items that may vary for different companies for reasons unrelated to overall operating performance. We exclude the following items from one or more of our non-GAAP financial measures: Additionally, we disclose "adjusted free cash flow", which is a non-GAAP measure that includes adjustments to operating cash flows for cash impacts related to and described above, and net purchases of property and equipment. We include the impact of net purchases of property and equipment in our adjusted free cash flow calculation because we consider these capital expenditures to be a necessary component of our ongoing operations. We believe this measure is meaningful to investors because management reviews cash flows generated from operations excluding such expenditures that are not related to our ongoing operations. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. The non-GAAP measures we use may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP items excluded from these non-GAAP financial measures. This press release contains forward-looking statements that involve a number of risks and uncertainties. Words such as “believes,” “may,” “will,” “determine,” “estimates,” “potential,” “continues,” “anticipates,” “intends,” “expects,” “could,” “would,” “projects,” “plans,” “targets,” “strategy,” “likely,” and variations of such words and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this release include statements regarding the proposed acquisition of Zuora, including the expected timing of the closing of the acquisition, and expectations for Zuora following the completion of the acquisition. Forward-looking statements are based on management's expectations as of the date of this filing and are subject to a number of risks, uncertainties and assumptions, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in our Form 10-Q filed with the Securities and Exchange Commission on August 29, 2024 as well as other documents that may be filed by us from time to time with the Securities and Exchange Commission, including in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2024. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the possibility that the closing conditions to the proposed acquisition are not satisfied (or waived), including the risk that required approvals from Zuora’s stockholders for the proposed acquisition or required regulatory approvals to consummate the acquisition are not obtained in a timely manner (or at all); the outcome of the current complaint and any potential litigation relating to the proposed acquisition; uncertainties as to the timing of the consummation of the proposed acquisition; the ability of each party to consummate the proposed acquisition; our ability to attract new customers and retain and expand sales to existing customers; our ability to manage our future revenue and profitability plans effectively; adoption of monetization platform software and related solutions, as well as consumer adoption of products and services that are provided through such solutions; our ability to develop and release new products and services, or successful enhancements, new features and modifications; challenges related to growing our relationships with strategic partners; loss of key employees; our ability to compete in our markets; adverse impacts on our business and financial condition due to macroeconomic or market conditions; the impact of actions to improve operational efficiencies and operating costs; our history of net losses and ability to achieve or sustain profitability; market acceptance of our products; the success of our product development efforts; risks associated with currency exchange rate fluctuations; risks associated with our debt obligations; successful deployment of our solutions by customers after entering into a subscription agreement with us; the success of our sales and product initiatives; our security measures; our ability to adequately protect our intellectual property; interruptions or performance problems; litigation and other shareholder related costs; the anticipated benefits of acquisitions and ability to integrate operations and technology of any acquired company; geopolitical conflicts or destabilizing events; other business effects, including those related to industry, market, economic, political, regulatory and global health conditions and other risks and uncertainties. The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. In connection with the proposed acquisition, Zuora has filed with the Securities and Exchange Commission (the “SEC”) a proxy statement in preliminary form on November 25, 2024, a definitive version of which will be mailed or otherwise provided to its stockholders. The Company and affiliates of the Company have jointly filed a transaction statement on Schedule 13E-3 (the Schedule 13E-3). Zuora may also file other documents with the SEC regarding the potential transaction. BEFORE MAKING ANY VOTING DECISION, ZUORA’S STOCKHOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT AND THE SCHEDULE 13E-3 IN THEIR ENTIRETY AND ANY OTHER DOCUMENTS FILED WITH THE SEC AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS THERETO IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the proxy statement, the Schedule 13E-3 and other documents that Zuora files with the SEC from the SEC’s website at and Zuora’s website at . In addition, the proxy statement, the Schedule 13E-3 and other documents filed by Zuora with the SEC (when available) may be obtained from Zuora free of charge by directing a request to Zuora’s Investor Relations at . Zuora and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies from Zuora’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed to be participants in the solicitation of the stockholders of Zuora in connection with the proposed transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise will be set forth in the proxy statement and Schedule 13E-3 and other materials to be filed with the SEC. You may also find additional information about Zuora’s directors and executive officers in Zuora’s proxy statement for its 2024 Annual Meeting of Stockholders, which was filed with the SEC on May 16, 2024 (the “Annual Meeting Proxy Statement”). To the extent holdings of securities by potential participants (or the identity of such participants) have changed since the information printed in the Annual Meeting Proxy Statement, such information has been or will be reflected in Zuora’s Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You can obtain free copies of these documents from Zuora using the contact information above. Zuora provides a leading monetization suite to build, run and grow a modern business through a dynamic mix of usage-based models, subscription bundles and everything in between. From pricing and packaging, to billing, payments and revenue accounting, Zuora’s flexible, modular software platform is designed to help companies evolve monetization strategies with customer demand. More than 1,000 customers around the world, including BMC Software, Box, Caterpillar, General Motors, The New York Times, Schneider Electric and Zoom use Zuora’s leading combination of technology and expertise to turn recurring relationships and recurring revenue into recurring growth. Zuora is headquartered in Silicon Valley with offices in the Americas, EMEA and APAC. To learn more, please visit . © 2024 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, Subscription Economy Index, Zephr, and Subscription Experience Platform are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Zuora, Inc. or any aspect of this press release. SOURCE: ZUORA, INC. Revenue: Subscription $ 105,253 $ 98,048 $ 308,263 $ 283,232 Professional services 11,676 11,801 33,831 37,760 Total revenue 116,929 109,849 342,094 320,992 Cost of revenue: Subscription 1 23,954 20,378 67,207 62,304 Professional services 1 14,383 14,650 43,483 47,851 Total cost of revenue 38,337 35,028 110,690 110,155 Gross profit 78,592 74,821 231,404 210,837 Operating expenses: Research and development 1 26,833 27,504 76,853 79,428 Sales and marketing 1 36,597 40,245 108,579 124,488 General and administrative 1 26,880 15,893 71,351 54,160 Total operating expenses 90,310 83,642 256,783 258,076 Loss from operations (11,718 ) (8,821 ) (25,379 ) (47,239 ) Change in fair value of debt derivative and warrant liabilities (20,174 ) 6,997 (29,115 ) 2,241 Interest expense (7,045 ) (5,610 ) (20,781 ) (14,604 ) Interest and other income (expense), net 6,505 2,272 19,988 13,639 Loss before income taxes (32,432 ) (5,162 ) (55,287 ) (45,963 ) Income tax (benefit) provision (226 ) 340 (2,152 ) 1,396 Net loss (32,206 ) (5,502 ) (53,135 ) (47,359 ) Comprehensive loss: Foreign currency translation adjustment 462 (696 ) 386 (1,383 ) Unrealized gain (loss) on available-for-sale securities 248 (18 ) 63 494 Comprehensive loss $ (31,496 ) $ (6,216 ) $ (52,686 ) $ (48,248 ) Net loss per share, basic and diluted $ (0.21 ) $ (0.04 ) $ (0.36 ) $ (0.34 ) Weighted-average shares outstanding used in calculating net loss per share, basic and diluted 152,263 141,488 149,457 138,789 (1) Stock-based compensation expense was recorded in the following cost and expense categories: Cost of subscription revenue $ 2,331 $ 2,350 $ 6,291 $ 6,889 Cost of professional services revenue 2,598 2,747 7,359 8,997 Research and development 7,697 7,165 21,680 20,661 Sales and marketing 7,613 8,191 20,609 24,857 General and administrative 4,694 5,648 13,163 16,569 Total stock-based compensation expense $ 24,933 $ 26,101 $ 69,102 $ 77,973 Current assets: Cash and cash equivalents $ 277,615 $ 256,065 Short-term investments 280,909 258,120 Accounts receivable, net 82,414 124,602 Deferred commissions, current portion 15,995 15,870 Prepaid expenses and other current assets 25,183 23,261 Total current assets 682,116 677,918 Property and equipment, net 27,403 25,961 Operating lease right-of-use assets 20,591 22,462 Purchased intangibles, net 23,146 10,082 Deferred commissions, net of current portion 24,941 27,250 Goodwill 73,903 56,657 Other assets 4,972 3,506 Total assets $ 857,072 $ 823,836 Current liabilities: Accounts payable $ 761 $ 3,161 Accrued expenses and other current liabilities 45,167 32,157 Accrued employee liabilities 29,860 37,722 Deferred revenue, current portion 177,436 199,615 Operating lease liabilities, current portion 7,030 6,760 Total current liabilities 260,254 279,415 Long-term debt 368,348 359,525 Deferred revenue, net of current portion 860 2,802 Operating lease liabilities, net of current portion 32,573 37,100 Deferred tax liabilities 4,066 3,725 Other long-term liabilities 6,781 7,582 Total liabilities 672,882 690,149 Stockholders’ equity: Class A common stock 15 14 Class B common stock 1 1 Additional paid-in capital 1,067,329 964,141 Accumulated other comprehensive loss (410 ) (859 ) Accumulated deficit (882,745 ) (829,610 ) Total stockholders’ equity 184,190 133,687 Total liabilities and stockholders’ equity $ 857,072 $ 823,836 Net loss $ (53,135 ) $ (47,359 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation, amortization and accretion 14,715 13,684 Stock-based compensation 69,102 77,973 Provision for credit losses 2,117 457 Amortization of deferred commissions 13,946 14,415 Reduction in carrying amount of right-of-use assets 3,470 4,876 Change in fair value of debt derivative and warrant liabilities 29,115 (2,241 ) Other (2,418 ) 2,630 Changes in operating assets and liabilities: Accounts receivable 40,149 12,476 Prepaid expenses and other assets (2,657 ) 878 Deferred commissions (12,107 ) (12,013 ) Accounts payable (2,529 ) (634 ) Accrued expenses and other liabilities 6,843 (82,904 ) Accrued employee liabilities (7,986 ) 509 Deferred revenue (24,439 ) (7,461 ) Operating lease liabilities (7,476 ) (10,962 ) Net cash provided by (used in) operating activities 66,710 (35,676 ) Purchases of property and equipment (9,252 ) (6,913 ) Purchases of short-term investments (240,093 ) (66,665 ) Maturities of short-term investments 222,279 175,128 Cash paid for acquisition, net of cash acquired (24,786 ) (4,524 ) Net cash (used in) provided by investing activities (51,852 ) 97,026 Proceeds from issuance of common stock upon exercise of stock options 3,372 1,000 Proceeds from issuance of common stock under employee stock purchase plan 4,481 4,765 Payment for taxes related to net share settlement of stock options (1,547 ) — Proceeds from issuance of convertible senior notes, net of issuance costs — 145,861 Net cash provided by financing activities 6,306 151,626 Effect of exchange rates on cash and cash equivalents 386 (1,383 ) Net increase in cash and cash equivalents 21,550 211,593 Cash and cash equivalents, beginning of period 256,065 203,239 Cash and cash equivalents, end of period $ 277,615 $ 414,832 Reconciliation of cost of subscription revenue: GAAP cost of subscription revenue $ 23,954 $ 20,378 $ 67,207 $ 62,304 Less: Stock-based compensation (2,331 ) (2,350 ) (6,291 ) (6,889 ) Amortization of acquired intangibles (1,164 ) (607 ) (2,706 ) (2,083 ) Workforce reductions (228 ) — (796 ) (38 ) Acquisition-related expenses (12 ) — (103 ) — Asset impairment — (439 ) — (439 ) Shareholder matters — — (20 ) — Non-GAAP cost of subscription revenue $ 20,219 $ 16,982 $ 57,291 $ 52,855 GAAP subscription gross margin 77 % 79 % 78 % 78 % Non-GAAP subscription gross margin 81 % 83 % 81 % 81 % Reconciliation of cost of professional services revenue: GAAP cost of professional services revenue $ 14,383 $ 14,650 $ 43,483 $ 47,851 Less: Stock-based compensation (2,598 ) (2,747 ) (7,359 ) (8,997 ) Acquisition-related expenses (22 ) — (22 ) — Shareholder matters — — (28 ) — Workforce reductions — — (5 ) (46 ) Non-GAAP cost of professional services revenue $ 11,763 $ 11,903 $ 36,069 $ 38,808 GAAP professional services gross margin (23 )% (24 )% (29 )% (27 )% Non-GAAP professional services gross margin (1 )% (1 )% (7 )% (3 )% Reconciliation of gross profit: GAAP gross profit $ 78,592 $ 74,821 $ 231,404 $ 210,837 Add: Stock-based compensation 4,929 5,097 13,650 15,886 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 228 — 801 84 Acquisition-related expenses 34 — 125 — Asset impairment — 439 — 439 Shareholder matters — — 48 — Non-GAAP gross profit $ 84,947 $ 80,964 $ 248,734 $ 229,329 GAAP gross margin 67 % 68 % 68 % 66 % Non-GAAP gross margin 73 % 74 % 73 % 71 % Reconciliation of (loss) income from operations: GAAP loss from operations $ (11,718 ) $ (8,821 ) $ (25,379 ) $ (47,239 ) Add: Stock-based compensation 24,933 26,101 69,102 77,973 Acquisition-related expenses 10,299 19 17,100 211 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 241 — 1,518 265 Shareholder matters 181 (3,508 ) 4,240 (3,265 ) Asset impairment — 1,592 — 1,592 Non-GAAP income from operations $ 25,100 $ 15,990 $ 69,287 $ 31,620 GAAP operating margin (10 )% (8 )% (7 )% (15 )% Non-GAAP operating margin 21 % 15 % 20 % 10 % Reconciliation of net (loss) income: GAAP net loss $ (32,206 ) $ (5,502 ) $ (53,135 ) $ (47,359 ) Add: Stock-based compensation 24,933 26,101 69,102 77,973 Change in fair value of debt derivative and warrant liabilities 20,174 (6,997 ) 29,115 (2,241 ) Acquisition-related expenses 10,299 19 17,100 211 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 241 — 1,518 265 Shareholder matters 181 (3,508 ) 4,240 (3,265 ) Asset impairment — 1,592 — 1,592 Non-GAAP net income $ 24,786 $ 12,312 $ 70,646 $ 29,259 GAAP net loss per share, basic and diluted 1 $ (0.21 ) $ (0.04 ) $ (0.36 ) $ (0.34 ) Non-GAAP net income per share, basic and diluted 1 $ 0.16 $ 0.09 $ 0.47 $ 0.21 (1) For the three months ended October 31, 2024 and 2023, GAAP and Non-GAAP net (loss) income per share are calculated based upon 152.3 million and 141.5 million basic and diluted weighted-average shares of common stock, respectively. For the nine months ended October 31, 2024 and 2023, GAAP and Non-GAAP net (loss) income per share are calculated based upon 149.5 million and 138.8 million basic and diluted weighted-average shares of common stock, respectively. Reconciliation of adjusted free cash flow: Net cash provided by (used in) operating activities (GAAP) $ 22,408 $ (55,657 ) $ 66,710 $ (35,676 ) Add: Acquisition-related expenses 5,587 28 7,300 135 Shareholder matters 824 71,377 4,379 72,130 Less: Purchases of property and equipment (3,330 ) (3,075 ) (9,252 ) (6,913 ) Adjusted free cash flow (non-GAAP) $ 25,489 $ 12,673 $ 69,137 $ 29,676 Net cash provided by (used in) investing activities (GAAP) $ 18,999 $ 2,005 $ (51,852 ) $ 97,026 Net cash (used in) provided by financing activities (GAAP) $ (1,295 ) $ 145,899 $ 6,306 $ 151,626 View source version on : CONTACT: Investor Relations Contact: Luana Wolk 650-419-1377Media Relations Contact: Margaret Juhnke 619-609-3919 KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SOFTWARE PAYMENTS ACCOUNTING PROFESSIONAL SERVICES TECHNOLOGY ELECTRONIC COMMERCE FINTECH OTHER TECHNOLOGY SOURCE: Zuora, Inc. Copyright Business Wire 2024. PUB: 12/09/2024 04:10 PM/DISC: 12/09/2024 04:08 PM
Ohio State, Michigan players involved in postgame scuffleLucknow, Dec 26 (PTI) Uttar Pradesh Governor Anandiben Patel, Chief Minister Yogi Adityanath and several other leaders of the state on Thursday condoled the demise of former prime minister Manmohan Singh. Singh, the architect of India's economic reforms, died in Delhi on Thursday night. He was 92. Singh's death was announced by the All India Institute of Medical Sciences, Delhi, where he was admitted in the Emergency ward around 8.30 PM in a critical condition. Patel said Singh's demise was a major loss to the political realm. "Dr Manmohan Singh's demise is a profound loss to Indian politics. I pray for peace to his soul and extend my heartfelt sympathies to the bereaved family," the governor said in a statement. Adityanath said, "The demise of former prime minister and eminent economist Dr Manmohan Singh is deeply saddening and an irreparable loss to Indian politics." "As finance minister and prime minister, he played a significant role in the governance of the nation. My humble tributes to him! I pray to Lord Shri Ram to grant peace to the departed soul and give strength to the bereaved family and his supporters to bear this immense loss. Om Shanti," he said in a statement. Samajwadi Party president Akhilesh Yadav also expressed grief over Singh's passing. "A man of truth and a gentle personality, Dr Manmohan Singh's death is an irreparable international loss. Heartfelt tributes to the great economist and former prime minister," he said in a post on X. BSP chief Mayawati said on X, "The news of former prime minister Dr Manmohan Singh's death is extremely saddening. His notable contributions to India's economic progress and his virtuous nature will always be remembered. My deep condolences to his family and admirers." State Congress chief Ajay Rai paid homage to Singh through a poignant post on social media, saying, "Dr Manmohan Singh, a symbol of simplicity in politics, has bid farewell to the world. This news is immensely painful. "His visionary initiatives, including economic reforms, the nuclear agreement and MGNREGA, brought India to new heights of prosperity. The nation will forever be indebted to his contributions. Heartfelt tributes," Rai added. Singh, revered as one of India's finest economists and a beacon of decency in politics, leaves behind a legacy of transformative policies that shaped modern India. "He was treated for age-related medical conditions and had sudden loss of consciousness at home on December 26," AIIMS, Delhi, said in a bulletin. (This story has not been edited by THE WEEK and is auto-generated from PTI)
Jan. 4-7 _ The Sentry (Chris Kirk) Jan. 11-14 _ Sony Open in Hawaii (Grayson Murray) Jan. 18-21 _ The American Express (Nick Dunlap) Jan. 24-27 _ Farmers Insurance Open (Matthieu Pavon) Feb. 1-4 _ AT&T Pebble Beach Pro-Am (Wyndham Clark) Feb. 8-11 _ WM Phoenix Open (Nick Taylor) Feb. 15-18 _ The Genesis Invitational (Hideki Matsuyama) Feb. 22-25 _ Mexico Open at Vidanta (Jake Knapp) Feb. 26 _ The Match IX (Rory McIlroy) Feb. 29-March 4 _ Cognizant Classic in The Palm Beaches (Austin Eckroat) March 7-10 _ Puerto Rico Open (Brice Garnett) March 7-10 _ Arnold Palmer Invitational presented by Mastercard (Scottie Scheffler) March 14-17 _ THE PLAYERS Championship (Scottie Scheffler) March 21-24 _ Valspar Championship (Peter Malnati) March 28-31 _ Texas Children's Houston Open (Stephan Jaeger) April 4-7 _ Valero Texas Open (Akshay Bhatia) April 11-14 _ Masters Tournament (Scottie Scheffler) April 18-21 _ Corales Puntacana Championship (Billy Horschel) April 18-22 _ RBC Heritage (Scottie Scheffler) April 25-28 _ Zurich Classic of New Orleans (Tied) May 2-5 _ THE CJ CUP Byron Nelson (Taylor Pendrith) May 9-12 _ Myrtle Beach Classic (Chris Gotterup) May 9-12 _ Wells Fargo Championship (Rory McIlroy) May 16-19 _ PGA Championship (Xander Schauffele) May 23-26 _ Charles Schwab Challenge (Davis Riley) May 30-June 2 _ RBC Canadian Open (Robert Macintyre) June 6-9 _ the Memorial Tournament presented by Workday (Scottie Scheffler) June 13-16 _ U.S. Open (Bryson DeChambeau) June 20-23 _ Travelers Championship (Scottie Scheffler) June 27-30 _ Rocket Mortgage Classic (Cameron Davis) July 4-7 _ John Deere Classic (Davis Thompson) July 11-14 _ Genesis Scottish Open (Robert Macintyre) July 11-14 _ ISCO Championship (Harry Hall) July 18-21 _ Barracuda Championship (Nick Dunlap) July 18-21 _ The Open Championship (Xander Schauffele) July 25-28 _ 3M Open (Jhonattan Vegas) Aug. 8-12 _ Wyndham Championship (Aaron Rai) Aug. 15-18 _ FedEx St. Jude Championship (Hideki Matsuyama) Aug. 22-25 _ BMW Championship (Keegan Bradley) Aug. 29-Sept. 1 _ TOUR Championship (Scottie Scheffler) Sept. 12-15 _ Procore Championship (Patton Kizzire) Sept. 26-29 _ Presidents Cup (United States) Oct. 3-6 _ Sanderson Farms Championship (Kevin Yu) Oct. 10-13 _ Black Desert Championship (Matthew McCarty) Oct. 17-20 _ Shriners Children's Open (J.T. Poston) Oct. 24-27 _ ZOZO CHAMPIONSHIP (Nicolas Echavarria) Nov. 7-10 _ World Wide Technology Championship (Austin Eckroat) Nov. 14-17 _ Butterfield Bermuda Championship (Rafael Campos) Nov. 21-24 _ The RSM Classic (Maverick McNealy) Dec. 5-8 _ Hero World Challenge (Scottie Scheffler) Dec. 13-15 _ Grant Thornton Invitational, Naples, Fla.
Michael Gray Jr., Byron Ireland rally Nicholls to 76-75 victory over LouisianaA big housing development that would be the centerpiece of a mixed-use neighborhood in San Ramon is beginning to come into view. Share this: Click to share on Facebook (Opens in new window) Click to share on Twitter (Opens in new window) Click to print (Opens in new window) Click to email a link to a friend (Opens in new window) Click to share on Reddit (Opens in new window) Report an error Policies and Standards Contact Us Most Popular Dear Abby: My boyfriend missed his deadline to propose. Now I’m not sure I want him to. Dear Abby: My boyfriend missed his deadline to propose. Now I'm not sure I want him to. Miss Manners: I was embarrassed by the hostess’s muttered complaint about me Miss Manners: I was embarrassed by the hostess's muttered complaint about me Miss Manners: I’m baffled by the elaborate party she gave for herself Miss Manners: I'm baffled by the elaborate party she gave for herself Asking Eric: My partner’s mom told me a secret about him, and I wish I didn’t know Asking Eric: My partner's mom told me a secret about him, and I wish I didn't know Dear Abby: I’m asking for a friend whose husband is so cheap he goes to the hospital to eat Dear Abby: I'm asking for a friend whose husband is so cheap he goes to the hospital to eat Harriette Cole: I have a reason for staying single but my parents don’t get it Harriette Cole: I have a reason for staying single but my parents don't get it Harriette Cole: I haven’t told him, but I’m on his girlfriend’s side Harriette Cole: I haven't told him, but I'm on his girlfriend's side Asking Eric: My brother is a billionaire, and I buy clothes at the 99-cent sale Asking Eric: My brother is a billionaire, and I buy clothes at the 99-cent sale California’s home insurance crisis: Which Bay Area neighborhoods have lost the most coverage California's home insurance crisis: Which Bay Area neighborhoods have lost the most coverage Miss Manners: It’s a party invitation! Why do they act like it’s some big chore? Miss Manners: It's a party invitation! Why do they act like it's some big chore? Trending Nationally Traffic stops by Denver police plunge nearly 50% after new policy prohibits low-level enforcement New pics of suspect in UnitedHealthcare CEO Brian Thompson slay released by NYPD 2nd rare Florida panther killed by vehicle in week; fewer than 250 remain in wild State anti-book-ban law leads some school districts to forsake grants to maintain local control Man covered in blood flees from police, kayaks to random boat in Newport Beach
How the stock market defied expectations again this year, by the numbersSteady leadership, unmatched wisdom: India’s sports community mourns Dr Singh’s demise PTI Updated: December 27th, 2024, 00:36 IST in Sports 0 Share on Facebook Share on Twitter Share on WhatsApp Share on Linkedin New Delhi: India’s sports fraternity Thursday joined the nation in mourning the demise of two-time former Prime Minister Dr Manmohan Singh, paying homage to his “calm leadership and wisdom” in stirring condolence messages. Singh, 92, died at the All India Institute of Medical Sciences (AIIMS) here after losing consciousness at his home owing to age-related ailments. Also Read BGT: It’s probably a safe shot for me, says Konstas on ramps against Bumrah 8 hours ago ISL: Odisha FC to face Mohammedan SC in search of top four spot 8 hours ago “Sad news of the passing of Dr. Manmohan Singh Ji. A visionary leader and a true statesman who worked tirelessly for India’s progress. His wisdom and humility will always be remembered. My heartfelt condolences to his loved ones,” World Cup-winning former cricketer Yuvraj Singh posted on X. Similar sentiments were expressed by his former teammate and Aam Aadmi Party’s Rajya Sabha member Harbhajan Singh, who described Singh as a thorough gentleman and visionary leader. “What truly set him apart was his calm and steady leadership in times of crisis, his ability to navigate complex political landscapes, and his unwavering belief in India’s potential,” he wrote. It was during Singh’s second tenure that India hosted the 2010 Commonwealth Games in the national capital. It was the first international multi-sport extravaganza to be held in the country after the 1982 Asian Games, also hosted by Delhi. Former wrestler Vinesh Phogat, who is now a Congress MLA in Haryana, called Singh a man of “extraordinary wisdom, simplicity and vision.” “Dr. Manmohan Singh was not just a Prime Minister, but he was a thinker, economist and a true patriot. His calm leadership style and economic vision gave the country a new direction, from the 1991 economic reforms to establishing India’s reputation on the global stage. “There was depth in his humility and wisdom in his every word. His services and contributions to the country will always be remembered. You will always live in our hearts, Sir,” she wrote in her emotional tribute on social media. Former cricketers Virender Sehwag and VVS Laxman and ex-women’s hockey team captain Rani Rampal were also among those who expressed their sadness at his death. Before serving as Prime Minister from 2004 to 2014, Singh was finance minister in the P V Narasimha Rao-led government and was the brain behind the economic reforms of 1991 that marked the beginning of liberalisation in the country. Widely respected for his intellect and grace in public life, Singh had retired from active politics in April this year after over a three-decade run as a Rajya Saha MP. PTI Tags: Manmohan Singh Share Tweet Send Share Suggest A Correction Enter your email to get our daily news in your inbox. Leave this field empty if you're human:
How the stock market defied expectations again this year, by the numbersTrump taps Charles Kushner, father of his son-in-law, as envoy to FranceSri Lanka electricity sector growth: Challenges ahead
How the stock market defied expectations again this year, by the numbers
Newby scores 16, UNC Wilmington knocks off Appalachian State 76-61
BRASILIA, Nov 21 (Reuters) - Brazil's government has blasted French retailer Carrefour (CARR.PA) , opens new tab after its CEO vowed to keep South American meat off its shelves in France in solidarity with farmers, calling the comments part of a wider push to undermine a pending trade deal. Agriculture Minister Carlos Favaro called the pledge part of an "orchestrated action" by French companies to sabotage the trade pact between the European Union and South American trade bloc Mercosur, which officials aim to finalize this year . In a social media post addressed to leaders of France's farm lobbies on Wednesday, Bompard said the EU-Mercosur deal presented the "risk of meat production spilling over into the French market failing to meet its requirements and standards." "Carrefour wants to form a united front with the agricultural world and is today committing not to sell any meat from Mercosur," he added. Carrefour representatives clarified to Reuters that the retailer does not currently source meat in France from Mercosur. The company did not answer questions about sourcing for its stores elsewhere in Europe. Brazilian meat industry group Abiec, which represents beef suppliers including JBS (JBSS3.SA) , opens new tab , Marfrig (MRFG3.SA) , opens new tab and Minerva (BEEF3.SA) , opens new tab , called the retailer's plan "contradictory" as its local unit Carrefour Brasil (CRFB3.SA) , opens new tab operates 1,200 stores in the country selling mostly domestic beef. "It seems to me that they are trying to find some pretext so that France does not sign ... the finalization of the Mercosur-European Union agreement," Favaro said. In a separate statement, Brazil's Agriculture Ministry had said Brazil's rigorous controls made it the largest exporter of beef and poultry in the world, selling to 160 countries and meeting the strictest standards, including those of the EU. Conrado Ferber, head of Uruguay's National Meat Institute, said Carrefour's stance was "regrettable" and "commercially incomprehensible" because it disregarded the basis of free trade that allows economies to grow. In a statement to Reuters on Thursday, Carrefour clarified that the CEO's comments applied only to stores in France, and is not related to the quality of Mercosur meat but rather concerns from the French agricultural sector. Carrefour said all other countries where the group is present, including Brazil and Argentina, can continue to purchase meat from Mercosur. Sign up here. Reporting by Lisandra Paraguassu in Brasilia, Luana Maria Benedito in Sao Paulo and Lucinda Elliott in Montevideo; Writing by Ana Mano; Editing by Brad Haynes and Stephen Coates Our Standards: The Thomson Reuters Trust Principles. , opens new tabIn what appears to be an embarrassing and ironic gaffe, a top Stanford University professor has been accused of spreading AI-generated misinformation while serving as an expert witness in support of a law designed to keep AI-generated misinformation out of elections. Jeff Hancock, the founding director of Stanford’s Social Media Lab, submitted his expert opinion earlier this month in Kohls v. Ellison, a lawsuit filed by a YouTuber and Minnesota state representative who claim the state’s new law criminalizing the use of deepfakes to influence elections violates their First Amendment right to free speech. His opinion included a reference to a study that purportedly found “even when individuals are informed about the existence of deepfakes, they may still struggle to distinguish between real and manipulated content.” But according to the plaintiff’s attorneys, the study Hancock cited — titled “The Influence of Deepfake Videos on Political Attitudes and Behavior” and published in the Journal of Information Technology & Politics —does not actually exist. “The citation bears the hallmarks of being an artificial intelligence (AI) ‘hallucination,’ suggesting that at least the citation was generated by a large language model like ChatGPT,” the plaintiffs wrote in a motion seeking to exclude Hancock’s expert opinion. “Plaintiffs do not know how this hallucination wound up in Hancock’s declaration, but it calls the entire document into question, especially when much of the commentary contains no methodology or analytic logic whatsoever.” The accusations about Hancock’s use of AI were first reported by the Minnesota Reformer . Hancock did not immediately respond to Gizmodo’s request for comment. Minnesota is one of 20 states to have passed laws regulating the use of deepfakes in political campaigns. Its law prohibits knowingly or acting with reckless disregard to disseminate a deepfake up to 90 days before an election if the material is made without the consent of the person depicted and is intended to influence the results of the election. The lawsuit challenging the law was filed by a conservative law firm on behalf of Minnesota state Representative Mary Franson and Christopher Kohls, a YouTuber who goes by the handle Mr Reagan. A lawsuit filed by Kohls challenging California’s election deepfake law led to a federal judge issuing a preliminary injunction last month preventing that law from going into effect.
Clemson's defense leaky versus The Citadel but offense rollsBy CHRISTINE FERNANDO CHICAGO (AP) — As Donald Trump’s Cabinet begins to take shape, those on both sides of the abortion debate are watching closely for clues about how his picks might affect reproductive rights policy in the president-elect’s second term . Trump’s cabinet picks offer a preview of how his administration could handle abortion after he repeatedly flip-flopped on the issue on the campaign trail. He attempted to distance himself from anti-abortion allies by deferring to states on abortion policy, even while boasting about nominating three Supreme Court justices who helped strike down the constitutional protections for abortion that had stood for half a century. In an NBC News interview that aired Sunday, Trump said he doesn’t plan to restrict medication abortion but also seemed to leave the door open, saying “things change.” “Things do change, but I don’t think it’s going to change at all,” he said. The early lineup of his new administration , including nominations to lead health agencies, the Justice Department and event the Department of Veterans Affairs, has garnered mixed — but generally positive — reactions from anti-abortion groups. Abortion law experts said Trump’s decision to include fewer candidates with deep ties to the anti-abortion movement could indicate that abortion will not be a priority for Trump’s administration. “It almost seems to suggest that President Trump might be focusing his administration in other directions,” said Greer Donley, an associate law professor at the University of Pittsburgh School of Law. Karen Stone, vice president of public policy at Planned Parenthood Action Fund , said while many of the nominees have “extensive records against reproductive health care,” some do not. She cautioned against making assumptions based on Trump’s initial cabinet selections. Still, many abortion rights groups are wary, in part because many of the nominees hold strong anti-abortion views even if they do not have direct ties to anti-abortion activists. They’re concerned that an administration filled with top-level officials who are personally opposed to abortion could take steps to restrict access to the procedure and funding. After Trump’s ambiguity about abortion during his campaign, “there’s still a lot we don’t know about what policy is going to look like,” said Mary Ruth Ziegler, a law professor at the University of California, Davis School of Law. That approach may be revealed as the staffs within key departments are announced. Trump announced he would nominate anti-vaccine activist Robert F. Kennedy Jr. to lead the Health and Human Services Department, which anti-abortion forces have long targeted as central to curtailing abortion rights nationwide. Yet Kennedy shifted on the issue during his own presidential campaign. In campaign videos, Kennedy said he supports abortion access until viability , which doctors say is sometime after 21 weeks, although there is no defined timeframe. But he also said “every abortion is a tragedy” and argued for a national ban after 15 weeks of pregnancy, a stance he quickly walked back. The head of Health and Human Services oversees Title X funding for a host of family planning services and has sweeping authority over agencies that directly affect abortion access, including the Food and Drug Administration and Centers for Medicare and Medicaid Services. The role is especially vital amid legal battles over a federal law known as EMTALA, which President Joe Biden’s administration has argued requires emergency abortion access nationwide, and FDA approval of the abortion pill mifepristone. Mini Timmaraju, president of the national abortion rights organization Reproductive Freedom for All, called Kennedy an “unfit, unqualified extremist who cannot be trusted to protect the health, safety and reproductive freedom of American families.” His potential nomination also has caused waves in the anti-abortion movement. Former Vice President Mike Pence , a staunch abortion opponent, urged the Senate to reject Kennedy’s nomination. Marjorie Dannenfelser, president of the national anti-abortion group Susan B. Anthony Pro-Life America, said the group had its own concerns about Kennedy. “There’s no question that we need a pro-life HHS secretary,” she said. Fox News correspondent Marty Makary is Trump’s pick to lead the FDA, which plays a critical role in access to medication abortion and contraception. Abortion rights groups have accused him of sharing misinformation about abortion on air. Russell Vought , a staunch anti-abortion conservative, has been nominated for director of the Office of Management and Budget. Vought was a key architect of Project 2025 , a right-wing blueprint for running the federal government. Among other actions to limit reproductive rights, it calls for eliminating access to medication abortion nationwide, cutting Medicaid funding for abortion and restricting access to contraceptive care, especially long-acting reversible contraceptives such as IUD’s. Despite distancing himself from the conservative manifesto on the campaign trail, Trump is stocking his administration with people who played central roles in developing Project 2025. Trump acknowledged that drafters of the report would be part of his incoming administration during the Sunday interview with NBC News, saying “Many of those things I happen to agree with.” “These cabinet appointments all confirm that Project 2025 was in fact the blueprint all along, and the alarm we saw about it was warranted,” said Amy Williams Navarro, director of government relations for Reproductive Freedom for All. Dr. Mehmet Oz , Trump’s choice to lead the Centers for Medicare and Medicaid Services, is a former television talk show host who has been accused of hawking dubious medical treatments and products. He voiced contradictory abortion views during his failed Senate run in 2022. Oz has described himself as “strongly pro-life, praised the Supreme Court decision overturning Roe v. Wade , claimed “life starts at conception” and referred to abortion as “murder.” But he also has echoed Trump’s states-rights approach, arguing the federal government should not be involved in abortion decisions. “I want women, doctors, local political leaders, letting the democracy that’s always allowed our nation to thrive to put the best ideas forward so states can decide for themselves,” he said during a Senate debate two years ago. An array of reproductive rights groups opposed his Senate run. As CMS administrator, Oz would be in a key position to determine Medicaid coverage for family planning services and investigate potential EMTALA violations. Related Articles National Politics | Trump promises to end birthright citizenship: What is it and could he do it? National Politics | In promising to shake up Washington, Trump is in a class of his own National Politics | Election Day has long passed. In some states, legislatures are working to undermine the results National Politics | Trump taps his attorney Alina Habba to serve as counselor to the president National Politics | With Trump on the way, advocates look to states to pick up medical debt fight As Florida’s attorney general, Pam Bondi defended abortion restrictions, including a 24-hour waiting period. Now she’s Trump’s choice for attorney general . Her nomination is being celebrated by abortion opponents but denounced by abortion rights groups concerned she may revive the Comstock Act , an anti-vice law passed by Congress in 1873 that, among other things, bans mailing of medication or instruments used in abortion. An anti-abortion and anti-vaccine former Florida congressman, David Weldon, has been chosen to lead the Centers for Disease Control and Prevention, which collects and monitors abortion data across the country. Former Republican congressman Doug Collins is Trump’s choice to lead the Department of Veterans Affairs amid a political battle over abortion access and funding for troops and veterans. Collins voted consistently to restrict funding and access to abortion and celebrated the overturning of Roe v. Wade. “This is a team that the pro-life movement can work with,” said Kristin Hawkins, president of the national anti-abortion organization Students for Life.
SUNRISE, Fla. (AP) — Spencer Knight made 20 saves, Mackie Samoskevich scored with less than a second left in the second period, and the Florida Panthers got four goals in the third to beat the Carolina Hurricanes 6-0 on Saturday and complete a two-day sweep. Read this article for free: Already have an account? To continue reading, please subscribe: * SUNRISE, Fla. (AP) — Spencer Knight made 20 saves, Mackie Samoskevich scored with less than a second left in the second period, and the Florida Panthers got four goals in the third to beat the Carolina Hurricanes 6-0 on Saturday and complete a two-day sweep. Read unlimited articles for free today: Already have an account? SUNRISE, Fla. (AP) — Spencer Knight made 20 saves, Mackie Samoskevich scored with less than a second left in the second period, and the Florida Panthers got four goals in the third to beat the Carolina Hurricanes 6-0 on Saturday and complete a two-day sweep. Aleksander Barkov, Sam Bennett, Aaron Ekblad, Evan Rodrigues and Adam Boqvist also scored for Florida, which won 6-3 at Carolina on Friday. The Panthers have won three straight — that streak following a stretch of six losses in seven games for the Stanley Cup champions. It was Knight’s fourth career shutout, his first since Nov. 9, 2022 — also at home against Carolina. Spencer Martin made 23 saves on 28 shots for the Hurricanes, who have dropped four of their last six games (2-3-1). It was Martin’s fourth consecutive start for Carolina. Takeaways Hurricanes: This was the first time all season that the Hurricanes failed to get a point in the game immediately following a loss. Carolina was 4-0-1 after a defeat entering Saturday. Panthers: A big day for Samoskevich — his alma mater Michigan beat Ohio State in football on Saturday, that game ending just before the Florida-Carolina game started. The Panthers are 5-0-0 when he scores this season. Sam Reinhart had each of the four most recent Florida goals at 19:59, before Samoskevich got his Saturday. Key moment The Panthers scored two goals 11 seconds apart in the third to make it 5-0, and Yaniv Perets replaced Martin in the Hurricanes’ net with 8:12 remaining. It was the second NHL appearance for Perets, who came on once in relief for Carolina last season. Key stat Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. Ekblad’s goal was his first in a span of 1,045 regular-season shifts since Feb. 20. Up next Carolina starts a two-game homestand Tuesday against Seattle. Florida goes to Pittsburgh to start a two-game trip on Tuesday. ___ AP NHL: https://www.apnews.com/hub/NHL Advertisement Advertisement
Adrian Kempe and Quinton Byfield scored in the second period, and the Kings beat the Seattle Kraken 2-1 on Saturday. David Rittich made 19 saves for the Kings, who improved to 6-2-1 at home. Kempe and Byfield scored 1:44 apart in the second period. Byfield buried a sharp-angle slap shot on a power play while dropping to a knee. It was his 98th career point in 200 games. Brandon Montour got the Kraken on the board with 1:26 left in the game. He converted a long shot with Joey Daccord off for another skater, but the Kings held on. Daccord finished with 19 stops for Seattle. Kraken: Jordan Eberle will miss at least three months after undergoing surgery on his pelvis. He had six goals and five assists in 17 games before he got hurt against Chicago on Nov. 14. Kings: The power play had been in a one-for-16 rut (6.25%) over the previous six games before Byfield found the net. It was the Kings’ lone opportunity with the man-advantage. Key moment: After following its 1-0 loss to Buffalo on Wednesday with a fourth straight period of extreme low-event hockey, Los Angeles created a lot more activity and offense to start the second and generate its two goals. Key stat: The Kings know how to close out games, improving to 9-0-1 when leading after two periods. Up next: The Kraken visit Anaheim on Monday, and the Kings play at San José on Monday.
