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FIIs Remain Net Investors In India This Year Amid Robust Economy, Resilient MarketE! may get a commission if you purchase something through our links. Learn more . The Disney Store's early Black Friday deals are here, and if you want to save big, now is the time to shop ! Don't wait for the official Black Friday rush—getting a head start on your holiday shopping means extra savings, and starting today until November 30, you can score up to 50% off toys, clothing, Christmas decor, and more. That includes 25% off sitewide (yes, we mean everything). Stock up on your favorite Disney merch, from Spider-Man to Moana , Mickey Mouse , and Star Wars . With Disney Store discounts already live, you’ll get the best deals before they’re gone. Plus, free shipping is also available on orders $40+ by using the promo code GIFT at checkout. Whether you’re looking for toys, apparel, or holiday decor, these early deals won’t last long. So why wait? Start shopping now and score more savings on the Disney Store products you love! Mickey Mouse Icon 1/4 Zip Fleece Jacket for Women Stay cozy and cute in this Mickey Mouse fleece zip-up , perfect for adding a touch of Disney magic to your casual look. Crocs Mickey and Minnie Mouse Holiday Clogs Step into holiday cheer with these cozy Mickey and Minnie Crocs , complete with a plush red faux fur lining for ultimate festive comfort. Star Wars Darth Vader Fleece Jacket for Adults Channel the Dark Side in this cozy Darth Vader fleece jacket , perfect for any Star Wars fan looking to add some power to their wardrobe. Marvel Long Sleeve T-Shirt for Adults Show off your superhero side with this Marvel long sleeve tee , featuring iconic Marvel characters for the ultimate fan. Alex Riegert-Waters Star Wars Dark Side T-Shirt for Women Show off your Star Wars style with this bold Dark Side tee , perfect for any fan who embraces the power of the Force. Cars Lightning McQueen Racing Suit Costume PJ Pals for Kids Get ready for race day with this Lightning McQueen PJ set , perfect for young fans who want to sleep in style and zoom into their dreams as their favorite Cars character. Disney Princess Fashion T-Shirt for Girls Celebrate Disney magic with this fun tee featuring Cinderella, Belle, Tiana, and Moana , perfect for adding some princess power to any young fan's wardrobe. Mickey Mouse Snowman Holiday Loungefly Mini Backpack Finish off your festive fit with this adorable Mickey Mouse Snowman Loungefly that's too cute to pass up. Minnie Mouse Gingerbread Ear Headband for Adults – Disney Eats This velvety Minnie Mouse Gingerbread ear headband serves up holiday sweetness with frosted cookie vibes and a satin bow—too cute to eat but just right for your festive flair! Mickey Mouse Initial Necklace Show off your love for Mickey with a playful initial necklace that’s as timeless as the mouse himself. Mickey and Minnie Mouse Loungefly Glow-in-the-Dark Holiday Ear Headband This glow-in-the-dark Loungefly ear headband brings festive vibes with holiday wreath ears, colorful bulbs, and Mickey and Minnie magic. Minnie Mouse Sequined Ear Headband & Loungefly Minnie Mouse Red Sequin Mini Backpack Complete your Minnie-inspired look with these sparkling red sequin ears , perfectly paired with the matching backpack for a truly magical style. Mickey Mouse Santa Hat Ear Headband Add some holiday cheer to your look with this Mickey Mouse ear headband topped with an adorable mini Santa hat. Star Wars Glow-in-the-Dark Loungefly Mini Backpack This Star Wars Loungefly mini backpack lights up your look with glow-in-the-dark stars, Lightsaber details, and iconic character art that’s truly out of this galaxy. Mickey Mouse and Friends Picnic Loungefly Ear Headband This strawberry-scented Loungefly ear headband serves up pie-inspired cuteness, retro Mickey and Minnie charm, and a picnic-ready removable bow. Did we mention it's only $22.50?! Woody Loungefly Mini Backpack – Toy Story This Toy Story-inspired Loungefly mini backpack ropes in Woody’s sheriff vibes with a belt, badge, and uniform details, making it a rootin’ tootin’ must-have! Mickey Mouse and Friends Loungefly Mini Backpack – Walt Disney World 2024 Ring in the New Year with this colorful Loungefly mini backpack , featuring Mickey, Minnie, and magical Disney moments perfect for adventures all year long. Lilly Pulitzer Minnie Mouse and Daisy Duck Backpack Brighten your day with this charming Lilly Pulitzer backpack featuring Minnie and Daisy, adding a splash of color and Disney fun to your daily adventures. Snow White Magic Mirror Crossbody Bag by Kate Spade New York Mirror, mirror on the wall, this 3D Magic Mirror crossbody is by far the fairest of them all! With an adjustable strap for crossbody cool or handles for a handbag moment, it’s got card slots and space for all your essentials—just keep an eye out for any suspicious apples! Snow White Small Backpack by Kate Spade New York Need a break from crossbody bags? This sleek small backpack is your new go-to! Crafted from soft leather with pockets inside and out, plus adjustable straps, it’s perfect for stashing your essentials and heading to work in style. Disneyland Holiday Starbucks Travel Tumbler & Disney World Holiday Starbucks Travel Tumbler Sip in holiday style with these festive Starbucks tumblers, available for both Disneyland and Disney World , making your Disney magic even more special this season. Mickey Mouse Icon Holiday Wreath Decorate your home this holiday season with this Mickey Mouse wreath , a festive way to add Disney cheer to your door or wall. Bauble Sketchbook Ornament Decorate your tree with this classic Minnie Mouse glass ornament . Mickey Mouse Holiday Stocking- Personalized Hang up some holiday magic with this personalized Mickey Mouse stocking . Cinderella Sketchbook Ornament This Cinderella ornament captures the elegance of the beloved princess in a beautifully detailed design, perfect for adding a fairytale touch to your holiday tree. Mickey Mouse Disney nuiMOs Plush This plush Mickey Mouse has embroidered details, poseable limbs, and magnetic hands that allow him to hold hands with other plush or close his hands together for added fun. Lilo & Stitch Stitch Plush Snuggle up with this soft Stitch plush from Lilo & Stitch , a must-have for fans looking to add a bit of Disney magic to their collection. Winnie the Pooh Plush This soft Winnie the Pooh plush brings the warmth and charm of the Hundred Acre Wood into your home, making it the perfect companion for cuddles. The Little Mermaid Ariel Disney nuiMOs Plush Pose, style, and customize this plush Ariel from The Little Mermaid , featuring embroidered details, poseable limbs, and magnetic hands that can hold hands with other plush or clasp together. Encanto Mirabel Plush Doll Meet Mirabel, the lovable and quirky character from Encanto , now as a cuddly plush doll featuring her signature outfit, embroidered details, and ringlet hair. Star Wars: Ahsoka Tano Plush Doll Get ready to hug your favorite Jedi with this Ahsoka Tano plush , bringing her bold spirit and iconic style straight into your world. Spider-Man Talking Action Figure Swing into action with this Spider-Man Talking Action Figure —perfect for reliving all your favorite Spidey moments from the movies. Toy Story Buzz Lightyear Interactive Talking Action Figure Blast off into adventure with this interactive Buzz Lightyear figure . Moana Classic Doll Set sail on an island adventure with this Moana doll —perfect for bringing the magic of the movie to life. Frozen 2 Elsa Classic Doll Recreate the magic of Frozen 2 with an Elsa doll , featuring her signature look from the movie—perfect for fans and collectors alike! Inside Out 2 Deluxe Figure Play Set Explore the world of Inside Out 2 with this deluxe figure playset, featuring all your favorite characters for endless imaginative fun. The Princess and the Frog Tiana Deluxe Figure Play Set Step into the world of The Princess and the Frog with this Tiana deluxe figure playset , complete with detailed characters for creating your own enchanting stories and adventures. Looking for more Black Friday deals? Then check out everything on sale at Anthropologie . Black Friday is the day following Thanksgiving in the United States, traditionally marking the start of the holiday shopping season. The term "Black Friday" originated in the 1960s and refers to the point in the year when retailers begin to turn a profit, moving from being "in the red" (indicating losses) to "in the black" (indicating profits). Retailers offer significant discounts and promotions, attracting millions of shoppers looking for the best deals. Online Black Friday deals can often be just as good, if not better, than in-store deals. Many retailers offer exclusive online discounts and free shipping options. Plus, shopping online allows you to avoid crowds and shop from the comfort of your home. Trust us, we recommend not storming the local Macy’s and instead finding the best deals from us. To prepare for Black Friday, start by making a shopping list of items you want and compare prices in advance to catch the best deals. Be sure to bookmark your favorite retailers and set up accounts for faster checkout. Sign up for our E! Insider Shop newsletter for exclusive access to deals, and follow us on Instagram for real-time updates on flash sales. While Black Friday 2024 will take place on November 29th, many brands start their sales online on Thanksgiving evening or even days prior, allowing shoppers to take advantage of deals before the official day begins. So far, Coach , Lululemon , and Michael Kors have already marked down tons of items. However, these deals won't last forever—most sales will continue through Cyber Monday, while some may end sooner depending on stock availability. Be sure to shop early to avoid missing out on your favorite items! We have already put together a list of the best deals to shop this Black Friday , featuring all of our favorite brands and products. If you’re looking for a specific brand, we've seen incredible discounts from Dyson , Nordstrom Rack , Kate Spade , Lululemon , and many others. Whether you're shopping for stylish activewear , luxury handbags , or classic wardrobe staples , these brands are offering some of the most impressive deals of the season.
CRANFORD, N.J. , Dec. 27, 2024 /PRNewswire/ -- Citius Oncology, Inc. ("Citius Oncology" or the "Company") CTOR , a specialty biopharmaceutical company focused on the development and commercialization of novel targeted oncology therapies, today reported business and financial results for the fiscal full year ended September 30, 2024 . Fiscal Full Year 2024 Business Highlights and Subsequent Developments Achieved U.S. Food and Drug Administration (FDA) approval of LYMPHIRTM (denileukin diftitox-cxdl), an immunotherapy for the treatment of adults with relapsed or refractory cutaneous T-cell lymphoma (CTCL); Began trading on the Nasdaq exchange under the ticker symbol CTOR on August 13, 2024 , following completion of the merger of Citius Pharma's oncology subsidiary with TenX Keane to form Citius Oncology, Inc., a standalone publicly traded company; Advanced manufacturing, marketing and sales activities in preparation for commercial launch of LYMPHIR in the first half of 2025; key activities included: Manufactured initial inventory for launch and finalized supply chain agreements, Initiated recruitment of targeted field force with contract sales organization, Launched a marketing awareness campaign and engaged with all leading CTCL prescribers, Applied for a unique J-code within the Healthcare Common Procedure Coding System (HCPCS) to facilitate accurate reimbursement, Secured inclusion of LYMPHIR in the National Comprehensive Cancer Network (NCCN) guidelines, critical to clinical decision-making in oncology and hematology, influencing treatment practices and payor reimbursement in the U.S., and Initiated development of the patient support center to help patients access LYMPHIR expeditiously; Supported two investigator-initiated trials to explore LYMPHIR's potential as an immuno-oncology combination therapy being conducted at the University of Pittsburgh Medical Center and the University of Minnesota ; and, Shared interim trial results with the clinical community at the Society for Immunotherapy of Cancer Conference (SITC) of University of Pittsburgh Medical Center's Phase I trial of LYMPHIR with checkpoint inhibitor pembrolizumab. The combination of these two immunomodulatory agents showed clinical benefit in relapsed or refractory gynecological neoplasms, resulting in: 27% objective response rate and 33% clinical benefit rate with median progression free survival of 57 weeks (range: 30-96 weeks), and A manageable safety profile whereby the regimen was well-tolerated with reversible treatment emergent adverse events and no definitive immune-related adverse events greater than or equal to grade 3 documented. Financial Highlights R&D expenses were $4.9 million for the full year ended September 30, 2024 , compared to $4.2 million for the full year ended September 30, 2023 ; G&A expenses were $8.1 million for the full year ended September 30, 2024 , compared to $5.9 million for the full year ended September 30, 2023 ; Stock-based compensation expense was $7.5 million for the full year ended September 30, 2024 , compared to $2.0 million for the full year ended September 30, 2023 ; and, Net loss was $21.1 million , or ($0.31) per share for the full year ended September 30, 2024 compared to a net loss of $12.7 million , or ($0.19) per share for the full year ended September 30, 2023 . "Reflecting on 2024, Citius Oncology has achieved pivotal milestones that underscore our commitment to advancing cancer therapeutics," stated Leonard Mazur , Chairman and CEO of Citius Oncology. "The FDA's approval of LYMPHIR for the treatment of cutaneous T-cell lymphoma marks a significant advancement in providing new options for patients battling this challenging disease. It is the only targeted systemic therapy approved for CTCL patients since 2018 and the only therapy with a mechanism of action that targets the IL-2 receptor. Additionally, the successful merger forming Citius Oncology, now trading on Nasdaq under the ticker CTOR, strengthens our position in the oncology sector. We expect it to facilitate greater access to capital to fund LYMPHIR's launch and the Company's future growth. With a Phase I investigator-initiated clinical trial combining LYMPHIR with pembrolizumab demonstrating promising preliminary results, indicating potential for enhanced treatment efficacy in recurrent solid tumors, and preliminary results expected from a second investigator trial with CAR-T therapies in 2025, we remain excited about the potential of LYMPHIR as a combination immunotherapy." "These accomplishments reflect the dedication of our team and the trust of our investors. As we look ahead, we remain steadfast in our mission to develop innovative therapies that improve the lives of cancer patients worldwide," added Mazur. FULL YEAR 2024 FINANCIAL RESULTS: Research and Development (R&D) Expenses R&D expenses were $4.9 million for the full year ended September 30, 2024 , compared to $4.2 million for the full year ended September 30, 2023 . The increase reflects development activities completed for the resubmission of the Biologics License Application of LYMPHIR in January 2024 , which were associated with the complete response letter remediation. General and Administrative (G&A) Expenses G&A expenses were $8.1 million for the full year ended September 30, 2024 , compared to $5.9 million for the full year ended September 30, 2023 . The increase was primarily due to costs associated with pre-commercial and commercial launch activities of LYMPHIR including market research, marketing, distribution and drug product reimbursement from health plans and payers. Stock-based Compensation Expense For the full year ended September 30, 2024 , stock-based compensation expense was $7.5 million as compared to $2.0 million for the prior year. The primary reason for the $5.5 million increase was due to the amounts being realized over 12 months in the year ended September 30, 2024 , as compared to three months post-plan adoption in the year ended September 30, 2023 . Net loss Net loss was $21.1 million , or ($0.31) per share for the year ended September 30, 2024 , compared to a net loss of $12.7 million , or ($0.19) per share for the year ended September 30, 2023 . The $8.5 million increase in net loss was primarily due to the increase in our operating expenses. About Citius Oncology, Inc. Citius Oncology specialty is a biopharmaceutical company focused on developing and commercializing novel targeted oncology therapies. In August 2024 , its primary asset, LYMPHIR, was approved by the FDA for the treatment of adults with relapsed or refractory CTCL who had had at least one prior systemic therapy. Management estimates the initial market for LYMPHIR currently exceeds $400 million , is growing, and is underserved by existing therapies. Robust intellectual property protections that span orphan drug designation, complex technology, trade secrets and pending patents for immuno-oncology use as a combination therapy with checkpoint inhibitors would further support Citius Oncology's competitive positioning. Citius Oncology is a publicly traded subsidiary of Citius Pharmaceuticals. For more information, please visit www.citiusonc.com Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are made based on our expectations and beliefs concerning future events impacting Citius Oncology. You can identify these statements by the fact that they use words such as "will," "anticipate," "estimate," "expect," "plan," "should," and "may" and other words and terms of similar meaning or use of future dates. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated, and, unless noted otherwise, that apply to Citius Oncology are: our ability to raise additional money to fund our operations for at least the next 12 months as a going concern; our ability to commercialize LYMPHIR and any of our other product candidates that may be approved by the FDA; the estimated markets for our product candidates and the acceptance thereof by any market; the ability of our product candidates to impact the quality of life of our target patient populations; our dependence on third-party suppliers; our ability to procure cGMP commercial-scale supply; risks related to research using our assets but conducted by third parties; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; market and other conditions; risks related to our growth strategy; patent and intellectual property matters; our ability to identify, acquire, close and integrate product candidates and companies successfully and on a timely basis; government regulation; competition; as well as other risks described in our Securities and Exchange Commission ("SEC") filings. These risks have been and may be further impacted by any future public health risks. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding our business are described in detail in our SEC filings which are available on the SEC's website at www.sec.gov , including in Citius Oncology's Annual Report on Form 10-K for the year ended September 30, 2024 , filed with the SEC on December 27, 2024 , as updated by our subsequent filings with the SEC. These forward-looking statements speak only as of the date hereof, and we expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. Investor Contact: Ilanit Allen ir@citiuspharma.com 908-967-6677 x113 Media Contact: STiR-communications Greg Salsburg Greg@STiR-communications.com -- Financial Tables Follow – CITIUS ONCOLOGY, INC. CONSOLIDATED BALANCE SHEETS SEPTEMBER 30, 2024 AND 2023 2024 2023 Current Assets: Cash and cash equivalents $ 112 $ — Inventory 8,268,766 — Prepaid expenses 2,700,000 7,734,895 Total Current Assets 10,968,878 7,734,895 Other Assets: In-process research and development 73,400,000 40,000,000 Total Other Assets 73,400,000 40,000,000 Total Assets $ 84,368,878 $ 47,734,895 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 3,711,622 $ 1,289,045 License payable 28,400,000 — Accrued expenses — 259,071 Due to related party 588,806 19,499,119 Total Current Liabilities 32,700,429 21,047,235 Deferred tax liability 1,728,000 1,152,000 Note payable to related party 3,800,111 — Total Liabilities 38,228,540 22,199,235 Stockholders' Equity: Preferred stock - $0.0001 par value; 10,000,000 shares authorized: no shares issued and outstanding — — Common stock - $0.0001 par value; 100,000,000; 71,552,402 and 67,500,000 shares issued and outstanding at September 30, 2024 and 2023, respectively 7,155 6,750 Additional paid-in capital 85,411,771 43,658,750 Accumulated deficit (39,278,587) (18,129,840) Total Stockholders' Equity 46,140,339 25,535,660 Total Liabilities and Stockholders' Equity $ 84,368,878 $ 47,734,895 CITIUS ONCOLOGY, INC. CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023 2024 2023 Revenues $ — $ — Operating Expenses: Research and development 4,925,001 4,240,451 General and administrative 8,148,929 5,915,290 Stock-based compensation – general and administrative 7,498,817 1,965,500 Total Operating Expenses 20,572,747 12,121,241 Loss before Income Taxes (20,572,747) (12,121,241) Income tax expense 576,000 576,000 Net Loss $ (21,148,747) $ (12,697,241) Net Loss Per Share – Basic and Diluted $ (0.31) $ (0.19) Weighted Average Common Shares Outstanding – Basic and Diluted 68,053,607 67,500,000 CITIUS ONCOLOGY, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023 2024 2023 Cash Flows From Operating Activities: Net loss $ (21,148,747) $ (12,697,241) Adjustments to reconcile net loss to net cash provided by operating activities: Stock-based compensation expense 7,498,817 1,965,500 Deferred income tax expense 576,000 576,000 Changes in operating assets and liabilities: Inventory (2,133,871) - Prepaid expenses (1,100,000) (5,044,713) Accounts payable 2,422,577 1,196,734 Accrued expenses (259,071) (801,754) Due to related party 14,270,648 14,805,474 Net Cash Provided By Operating Activities 126,353 - Cash Flows From Investing Activities: License payment (5,000,000) - Net Cash Used In Investing Activities (5,000,000) - Cash Flows From Financing Activities: Cash contributed by parent 3,827,944 - Merger, net (2,754,296) - Proceeds from issuance of note payable to related party 3,800,111 - Net Cash Provided By Financing Activities 4,873,759 - Net Change in Cash and Cash Equivalents 112 - Cash and Cash Equivalents – Beginning of Year - - Cash and Cash Equivalents – End of Year $ 112 $ - Supplemental Disclosures of Cash Flow Information and Non-cash Activities: IPR&D Milestones included in License Payable $ 28,400,000 $ - Capital Contribution of due to related party by parent $ 33,180,961 $ - Prepaid Manufacturing transferred to Inventory $ 6,134,895 $ - View original content to download multimedia: https://www.prnewswire.com/news-releases/citius-oncology-inc-reports-fiscal-full-year-2024-financial-results-and-provides-business-update-302339671.html SOURCE Citius Oncology, Inc. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Pittsburgh Steelers look to continue their improbable season atop the AFC North when they visit the disappointing Cincinnati Bengals on Sunday afternoon. The Steelers (8-3) saw their five-game winning streak come to an end last time out, suffering a 24-19 loss to the Cleveland Browns on Nov. 21 in a game that featured a second-half snowstorm. Pittsburgh rallied from an 18-6 deficit to take a 19-18 lead with 6:15 to go in the fourth quarter before the Browns scored what ended up being the game-winning points in the final minute. After the Steelers kicked a 15-yard punt following a three-and-out, their defense went on to allow Cleveland to convert on fourth-and-3, leading to Nick Chubb's 2-yard touchdown run with 57 seconds remaining in the contest. "We just didn't make enough of those critical plays in those moments," Pittsburgh defensive tackle Cameron Heyward said. "We've stepped up in those critical moments. But on the flip side, those three losses we've had, we haven't had those moments. We're trying to change that where, no matter what team, we gotta have those winning moments." All three of the Steelers' losses this season have come against teams that currently have a losing record. Pittsburgh also fell to the Dallas Cowboys and Indianapolis Colts. Still, the Steelers currently lead the AFC North, but the Baltimore Ravens (8-4) are right on their tail. It's a tight race in the division that Cincinnati (4-7) has slipped out of. Even though the Bengals have been in a rut -- with three losses in their past four games -- Cincinnati coach Zac Taylor doesn't want his team to just throw in the towel. "This is December football," Taylor said. "This is where it means something. Regardless (of) what our record is right now, you need to play your best football in December, and now, more than ever, we're going to need that from our guys, and they understand that. They subscribe to it, and we just keep ... moving forward from here." The Bengals were on their bye last week, but before that, they were on the wrong end of a 34-27 decision against the Los Angeles Chargers on Nov. 17. Like Pittsburgh, Cincinnati came back from a sizable deficit only to lose. Joe Burrow threw three second-half touchdown passes against Los Angeles as the Bengals climbed out of a 27-6 hole, but Chargers running back J.K. Dobbins found the end zone from 29 yards out with 18 seconds left in regulation to break a 27-27 tie. Burrow went 28-for-50 passing for 356 yards and the three TDs. "I think we're playing a really good team," Heyward said of Cincinnati. "The roster is very good. And you look at their losses, they come down to those critical moments." Making things harder for the Steelers could be the absence of linebacker Alex Highsmith, who did not practice on Wednesday because of an ankle injury. For the Bengals, left tackle Orlando Brown, who has missed the past three games with a leg injury, was a limited participant on Wednesday. Defensive tackle Sheldon Rankins missed practice with an illness and starting linebacker Logan Wilson (knee) also did not practice. Burrow (wrist) was a full participant. --Field Level MediaNEW YORK — A slide for market superstar Nvidia on Dec. 9 knocked Wall Street off its big rally and helped drag U.S. stock indexes down from their records. The S&P 500 fell 0.6 percent Monday, coming off its 57th all-time high of the year so far. The Dow Jones Industrial Average dipped 0.5 percent, and the Nasdaq composite pulled back 0.6 percent from its own record. Nvidia's fall of 2.5 percent was by far the heaviest weight on the S&P 500 after China said it's investigating the company over suspected violations of Chinese anti-monopoly laws. Nvidia has skyrocketed to become one of Wall Street's most valuable companies because its chips are driving much of the world's move into artificial-intelligence technology. That gives its stock's movements more sway on the S&P 500 than nearly every other. Nvidia's drop overshadowed gains in Hong Kong and for Chinese stocks trading in the United States on hopes that China will deliver more stimulus for the world's second-largest economy. Roughly three in seven of the stocks in the S&P 500 rose. The week's highlight for Wall Street will arrive midweek when the latest updates on inflation arrive. NEW YORK — Omnicom is buying Interpublic Group in a stock-for-stock deal that will create an advertising powerhouse with combined annual revenue of almost $26 billion. The New York City agencies have had a hand in iconic marketing campaigns like "Got Milk" for the California Milk Processor Board, "Priceless" for Mastercard, "Because I'm Worth It" for L'Oreal and "Think Different" for Apple. The combined company will be valued at more than $30 billion. It will will keep the Omnicom name and trade under the "OMC" ticker symbol on the New York Stock Exchange. The deal is expected to have annual cost savings of $750 million and is expected to close during the second half of next year. It still needs the approval of Omnicom and Interpublic shareholders. NEW YORK — Activist investor Barington Capital Group is calling on department store retailer Macy's to develop an internal real estate subsidiary, reduce capital expenditures and explore strategic options for its Bloomingdale's and Bluemercury chains among other changes to boost its slumping stock, according to its proposal made public Dec. 9. The presentation came after Barington, which has stakes in such brands as Victoria's Secret, Hanes and Dillard's, has built an undisclosed stake in Macy's. Barington said it has partnered with property owner Thor Equities. They said that Macy's stock is undervalued and that the real estate, including the flagship at Herald Square in Manhattan, is worth between $5 billion and $9 billion. They said Macy's should create a unit to collect market rents from its retail operations and pursue sales and redevelopment opportunities. WASHINGTON — TikTok asked a federal appeals court Dec. 9 to bar the Biden administration from enforcing a law that could lead to a ban on the popular platform until the Supreme Court reviews its challenge to the statute. The legal filing was made after a panel of three judges on the same court sided with the government last week and ruled that the law, which requires China-based TikTok parent ByteDance to divest its stakes in the social media company or face a ban, was constitutional. If the law is not overturned, both TikTok and ByteDance have said the popular app will shut down by Jan. 19. TikTok has more than 170 million American users who would be affected, the companies have said. In a legal filing, attorneys for the two companies wrote that even if a shutdown lasted one month, it would cause TikTok to lose about a third of its daily users in the U.S. "Before that happens, the Supreme Court should have an opportunity, as the only court with appellate jurisdiction over this action, to decide whether to review this exceptionally important case," the filing said. It's not clear if the high court will take up the case. Some legal experts have said the justices are likely to weigh in since the dispute raises novel issues about social media platforms and how far the government could go in protecting national security.
LILONGWE-(MaraviPost)- President Lazarus Chakwera on Wednesday night, November 27, 2024 ordered Malawi Police Service (MPS) to arrest all individuals behind recent spate of political violence in some parts of the country. Chakwera told the law-enforcers to work professionally arguing that political violence has no place in a peaceful nation as Malawi. Addressing the nation from Kamuzu Palace in the capital Lilongwe, the Malawi leader also joined former heads of state in condemning political violence particularly recent police acts of halting demonstrations. “I want to join the three former Heads of State, Dr. Bakili Muluzi, Dr. Joyce Banda, and Professor Arthur Peter Mutharika in condemning some emerging incidents of political violence. “We have already seen a political party member murdered in Blantyre and demonstrators being intimidated in Lilongwe. These things will take our country nowhere, and I am calling on the Malawi Police Service to do its job of investigating every incident of political violence and bringing suspects to book. “Malawians are peace-loving people and those who use their freedom of political participation orright to demonstrate for violent ends must not be allowed to ruin our reputation as a beacon of democracy in Africa. God bless you for listening and God bless Malawi”, says Chakwera. Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Learn how your comment data is processed .Trump asks Supreme Court to delay TikTok ban so he can weigh in after he takes office
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