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WASHINGTON (AP) — President Joe Biden kicked off his final holiday season at the White House on Monday by issuing the traditional reprieve to two turkeys who will bypass the Thanksgiving table to live out their days in southern Minnesota. Biden welcomed 2,500 guests to the South Lawn under sunny skies as he cracked jokes about the fates of “Peach” and “Blossom” and sounded wistful tones about the last weeks of his presidency after a half-century in Washington power circles. “It’s been the honor of my life. I’m forever grateful,” Biden said, taking note of his impending departure on Jan. 20, 2025. That's when power will transfer to Republican President-elect Donald Trump, the man Biden defeated four years ago and was battling again until he was pressured to bow out of the race amid concerns about his age and viability. Biden is 82. Until Inauguration Day, the president and first lady Jill Biden will continue a busy run of festivities that will double as their long goodbye. The White House schedule in December is replete with holiday parties for various constituencies, from West Wing staff to members of Congress and the White House press corps. Biden relished the brief ceremony with the pardoned turkeys, named for the official flower of the president's home state of Delaware. “The peach pie in my state is one of my favorites,” he said during remarks that were occasionally interrupted by Peach gobbling atop the table to Biden's right. “Peach is making a last-minute plea,” Biden said at one point, drawing laughter from an overflow crowd that included Cabinet members, White House staff and their families, and students from 4H programs and Future Farmers of America chapters. Biden introduced Peach as a bird who “lives by the motto, ‘Keep calm and gobble on.’” Blossom, the president said, has a different motto: “No fowl play. Just Minnesota nice.” Peach and Blossom came from the farm of John Zimmerman, near the southern Minnesota city of Northfield. Zimmerman, who has raised about 4 million turkeys, is president of the National Turkey Federation, the group that has gifted U.S. presidents Thanksgiving turkeys since the Truman administration after World War II. President Harry Truman, however, preferred to eat the birds. Official pardon ceremonies did not become an annual White House tradition until the administration of President George H.W. Bush in 1989. With their presidential reprieve, Peach and Blossom will live out their days at Farmamerica, an agriculture interpretative center near Waseca in southern Minnesota. The center's aim is to promote agriculture and educate future farmers and others about agriculture in America. Separately Monday, first lady Jill Biden received the official White House Christmas tree that will be decorated and put on display in the Blue Room. The 18.5 foot (5.64 meters) Fraser fir came from a farm in an area of western North Carolina that recently was devastated by Hurricane Helene . Cartner’s Christmas Tree Farm lost thousands of trees in the storm “but this one remained standing and they named it ‘Tremendous’ for the extraordinary hope that it represents,” Jill Biden said at the event. The Bidens also traveled to New York City on Monday for an evening “Friendsgiving” event at a Coast Guard station on Staten Island. Biden began his valedictory calendar Friday night with a gala for hundreds of his friends, supporters and staff members who gathered in a pavilion erected on the South Lawn, with a view out to the Lincoln Memorial. Cabinet secretaries, Democratic donors and his longest-serving staff members came together to hear from the president and pay tribute, with no evidence that Biden was effectively forced from the Democratic ticket this summer and watched Vice President Kamala Harris suffer defeat on Nov. 5. “I’m so proud that we’ve done all of this with a deep belief in the core values of America,” said Biden, sporting a tuxedo for the black-tie event. Setting aside his criticisms of Trump as a fundamental threat to democracy, Biden added his characteristic national cheerleading: “I fully believe that America is better positioned to lead the world today than at any point in my 50 years of public service.” The first lady toasted her husband with a nod to his 2020 campaign promise to “restore the soul of the nation,” in Trump’s aftermath. With the results on Election Day, however, Biden’s four years now become sandwiched in the middle of an era dominated by Trump's presence on the national stage and in the White House. Even as the first couple avoided the context surrounding the president's coming exit, those political realities were nonetheless apparent, as younger Democrats like Maryland Gov. Wes Moore , Illinois Gov. J.B. Pritzker and Biden's Secretary of Transportation Pete Buttigieg not only raised their glasses to the president but held forth with many attendees who could remain in the party's power circles in the 2028 election cycle and beyond. ___ Associated Press writer Steve Karnowski in Minneapolis contributed to this report.Stock market today: Wall Street gains ground as it notches a winning week and another Dow record
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3 Canucks prospects who will likely play at World JuniorsPredictive Analytics for Financial Health: Seeing the Big Picture
(CNN) — Donald Trump’s allies are scrambling to save Pete Hegseth after the president-elect’s pick to lead the Pentagon struggled to win over skeptical Republicans in a flurry of meetings on Capitol Hill this week. Trump is still standing by his choice, telling Hegseth he wants to see him fight for votes in the Senate, sources close to both told CNN, though they also acknowledged that the president-elect could withdraw his support at any time. Trump and those around him still see a pathway for Hegseth to be confirmed, the sources said, though they noted the Senate math can change quickly — and some of Trump’s allies are ramping up public pressure on senators who have so far declined to commit to Hegseth. The former Fox News host’s confirmation is in jeopardy amid a series of allegations related to drinking and sexual misconduct that have emerged since he was chosen for the role. While no Republican senators have publicly said they will not back Hegseth, many have said they have concerns that they need addressed before they can get behind him. For Trump — who’s already lost one of his Cabinet picks due to Senate opposition – Hegseth’s fate is poised to become a key early test of his relationship with Senate Republicans. Some of Trump’s allies believe the president-elect cannot give into the pressure from senators over Hegseth, arguing that allowing them to tank another key pick would give lawmakers too much power at a critical time for him. “If he drops Pete because of pressure from establishment Republican senators, all it will do is have the effect of the Senate essentially controlling Trump and not the other way around,” one source familiar with transition talks told CNN. Trump’s continued backing – as of now – is part of the reason Hegseth has appeared more bullish this week while he’s held critical meetings with Republican senators who will ultimately decide his destiny. “I spoke to Trump this morning just a few minutes ago. He supports us fully,” Hegseth told CNN Thursday when he arrived on Capitol Hill. “I’m a different man than I was,” Hegseth said after his meetings wrapped Thursday in response to questions about allegations of alcohol abuse. And on Wednesday, he took to conservative media and X to blast the accusations against him. Sources familiar with the matter argued that the situation with Hegseth is not the same as what unfolded with Trump’s attorney general pick, Matt Gaetz, who withdrew his name last month after Trump told him he did not have the votes to get confirmed. “This is very different than the situation with Matt Gaetz. With Gaetz, you had multiple members who were legitimate hard no’s, whereas with Pete, I don’t think there’s a single actual hard no on the GOP side of the Senate right now,” one Trump world adviser told CNN. Unlike with Gaetz, Trump has not been making a flurry of phone calls directly to senators, sources said. Trump has so far allowed his transition team to handle the backchanneling as it relates to Hegseth rather than personally involving himself, two sources familiar with the discussions said. However, Vice President-elect JD Vance, a supporter of Hegseth and a current Ohio senator, has been talking to his colleagues as Hegseth has been in and out of meetings on Capitol Hill . Trump’s allies on and off Capitol Hill have pushed Republican senators to get in line for Hegseth, noting that President Joe Biden’s defense secretary, Lloyd Austin, received 93 votes . “If you’re a GOP Senator who voted for Lloyd Austin, but criticize @PeteHegseth , then maybe you’re in the wrong political party!” Trump’s son, Donald Trump Jr., wrote on X . One Trump adviser said that the president-elect’s support for Hegseth could wane if more allegations surface. Trump’s transition team was blindsided by a 2017 sexual assault allegation against Hegseth – and then again after a related police report surfaced. Hegseth has denied the allegation, claiming the encounter was consensual, and no charges were filed. The avalanche of media reports on Hegseth’s alleged past transgressions has caused some around Trump to sour on the pick. Transition team members have expressed frustration at what they said was Hegseth’s lack of transparency and honesty about information that could be used against him, despite having been asked to disclose any potential headwinds on multiple occasions. At the same time, many of Trump’s advisers and close allies were annoyed over reports this week that the president-elect was mulling possible replacements, including Florida Gov. Ron DeSantis and Iowa Sen. Joni Ernst, whose vote could be among the most crucial to Hegseth’s chances. Ernst, a combat veteran who’s taken on sexual assault in the military, has not said whether she’ll support Hegseth. The people close to Trump have since lobbied him directly on Hegseth, as well as attempted to quash any interest he might have had in other candidates, including reminding Trump of negative things DeSantis in particular said about him earlier this year when the two were in a heated primary. Sources familiar with the discussions said there is a concern among Hegseth allies that Ernst and Sen. Lindsey Graham of South Carolina are working to sink Hegseth so that Ernst could be considered as a defense secretary candidate instead. CNN has previously reported Ernst’s name was floated as a replacement for Hegseth. An Ernst spokesman called the speculation around her motives “absolutely not true. Ernst is not seeking the position, full stop.” Graham said the claims were “complete crap.” Some close to Hegseth believe that if he can survive over the next week, he will be Trump’s nominee, though he still will have to get through his confirmation hearing early next year. Trump’s team has been watching Hegseth’s meetings with senators very closely to gauge where they stand — with a particular focus on female senators like Ernst. Hegseth has repeatedly denied the allegations that have imperiled his confirmation and his attorney Timothy Parlatore argued to CNN’s Jake Tapper on Wednesday that they were “anonymous.” On Wednesday, Hegseth’s mother made a plea to these female senators during an interview with Fox News. “I am here to tell the truth, to tell the truth to the American people, and tell the truth to the senators on the Hill, especially our female senators. I really hope that you will not listen to the media, and that you will listen to Pete,” said Penelope Hegseth, who sent an email to her son in 2018 that sharply criticized his treatment of women, The New York Times reported last week. (She told the Times that she had immediately apologized to her son and that her own characterization in the email “has never been true.”) Pete Hegseth met with Ernst on Wednesday, but the senator declined to throw her support behind him. The Iowa Republican confirmed during an interview on Fox News Thursday that she was not yet ready to back him. “It doesn’t sound in your answer that you got to a yes?” host Bill Hemmer asked. “I think you are right,” Ernst responded. “I think, for a number of our senators, they want to make sure that any allegations have been cleared and that’s why we have to have a very thorough vetting.” Another Republican on the Armed Services Committee, Sen. Mike Rounds of South Dakota, said after his meeting with Hegseth Thursday that he still sees a path for him, but is not ready to commit to backing him – yet. “I really do see a path forward for him to be successful in being accepted by the Senate for this position, but he’s got more work to do,” Rounds said. “I think he’s capable of doing that and I think the open hearings will help, so that he can respond publicly to the allegations that have been made – and, as near as I can tell, the vast majority of them anonymously.” Senate Democrats, meanwhile, are considering how hard they should press to dig up more information about Hegseth while they still control the chamber. Democrats on the Armed Services Committee are weighing whether to subpoena Concerned Veterans for America, where Hegseth was president from 2013 to 2016, for a whistleblower report from former employees, a source familiar with the matter told CNN. The report, described in The New Yorker , alleged Hegseth was repeatedly intoxicated at work events and gatherings with staff. It also alleges that he sexually pursued female staffers, and that the organization ignored another staffer’s alleged sexual misconduct, according to the magazine. Hegseth has denied the allegations, with his lawyer calling them “outlandish claims” from a “disgruntled former associate.” Democrats have just weeks before the committee will fall into GOP control, when they would lose that subpoena power. As CNN reported earlier this week, incoming Armed Services Chairman Roger Wicker, a Mississippi Republican, has said he believes he’ll eventually see the report. Democratic Sen. Richard Blumenthal, who sits on the committee, asked the leaders of the panel to demand that two veterans groups that Hegseth led “preserve and produce” records related to him — including credit card transactions. “It’s very interesting what the press likes to dub a whistleblower report, which some others might clarify as an email from a disgruntled employee, one might say,” Hegseth told CNN’s Manu Raju on Thursday when asked if he’d support the release of the report. The focus on Hegseth on Capitol Hill this week has taken some of the scrutiny off of Trump’s other Cabinet picks. For many of them, Hegseth has served as “heat shield” while they take meetings on the Hill, a source close to the transition said. CNN’s Danya Gainor, Kit Maher, Andrew Millman, Manu Raju, Paula Reid, Morgan Rimmer and Haley Talbot contributed to this report. The-CNN-Wire TM & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
Independent engineer says he gave Prasa opportunity to comment on Siyangena valuationPLANO, Texas--(BUSINESS WIRE)--Dec 12, 2024-- Upbound Group, Inc. (“Upbound” or the “Company”) (NASDAQ: UPBD), a technology and data-driven leader in accessible and inclusive financial products that address the evolving needs and aspirations of underserved consumers, today announced it has entered into a definitive agreement to acquire Brigit, a leading financial health technology company, for total consideration of up to $460 million consisting of cash and shares of Upbound common stock. This transaction is a logical next step reflecting Upbound’s strategic focus on expanding its technology-driven financial solutions for consumers who are underserved by the traditional financial system. Brigit, which offers a subscription-based model, was launched nationally in 2019 to expand financial inclusion and help consumers build a brighter financial future. It is consistently ranked among the most downloaded financial health apps and is a recognized leader in innovation in the industry. Built on proprietary artificial intelligence and machine learning-powered cash flow data insights, Brigit’s core product is its direct-to-consumer Instant Cash advance product (earned wage access or EWA) which has saved its users approximately $1 billion in overdraft fees since inception 2. Brigit also offers a credit builder product that helps its subscribers build their credit history over time as they increase their savings, as well as financial wellness solutions and educational resources to help consumers better manage, save, and earn money. Brigit currently serves nearly two million monthly active customers, including over one million active paying subscribers and almost one million free subscribers. Their customers are highly engaged, with paid users logging in on average six times per month. The business is expected to generate revenues of approximately $215 million to $230 million in 2025 and approximately $350 million to $400 million in 2026. Brigit will expand Upbound’s offerings of innovative and flexible financial solutions, positioning the combined company to create an industry-leading technology platform for the financially underserved that meets the consumer wherever they are on their financial journey. In addition, Brigit’s proprietary data and sophisticated tech stack are expected to enhance Upbound’s existing brands, including Acima and Rent-A-Center (RAC), by improving risk management and fraud prevention, enabling more customer approvals while also mitigating net losses and enhancing account management. The combined company’s data-driven insights will create a more personalized customer experience with the ability to deliver, at the right time and through the right channels, a wider range of targeted solutions for consumers. Upbound expects these enhancements to boost conversion rates, lower churn, and increase customer loyalty and engagement. “We are thrilled to welcome Brigit, a company whose mission and target customer base are closely aligned with ours, into our family of brands,” said Upbound’s Chief Executive Officer Mitch Fadel. “Creating a financial solutions platform with Brigit as the backbone expands our addressable market and enables Upbound to innovate across even more product categories to improve the financial health of our customers. The ability to add new products for our customers beyond lease-to-own is an important part of our strategy and now we can offer liquidity solutions, budgeting, credit building, financial literacy and savings. We believe this transaction will position Upbound for accelerated growth, with greater scale and a more diversified financial profile, ultimately driving long-term value for our shareholders.” “Brigit has helped everyday Americans build a brighter financial future through a suite of innovative financial products that leverage cutting-edge cash flow technology,” said Brigit cofounder & CEO Zuben Mathews. “This transaction is a testament to our team’s continued passion for helping the underserved and our dedication to innovation. By combining forces with Upbound, we can accelerate our impact and better serve the millions of Americans who have been historically underserved by traditional financial institutions. Together, we are excited to widen our reach and bring financial freedom to even more people in need.” Brigit founders Zuben Mathews and Hamel Kothari will continue to lead the Brigit team as a business segment of Upbound. Brigit will continue to operate under its existing branding and will retain its headquarters in New York City, which is expected to serve as one of Upbound’s innovation hubs. Transaction Details Upbound is acquiring Brigit for up to $460 million, comprised of (1) $325 million payable at closing, 75% in cash and 25% in Upbound shares; (2) $75 million in deferred cash consideration over two years; and (3) a potential earnout of up to $60 million in cash based on achievement of certain financial performance metrics for the Brigit business in 2026. Upbound will fund the transaction through a combination of cash on hand, borrowing capacity under its $550 million revolving credit facility, and issuance of new shares of Upbound common stock to Brigit stockholders. The integration of Brigit’s all-digital, scalable platform is expected to expand Upbound’s addressable market outside of durable goods and enhance its strong financial profile while adding an additional complementary growth segment. With approximately 80% recurring subscription revenue, and an estimated total revenue growth in 2024 of 40% to 50% compared to 2023 with similar expectations in 2025, Upbound believes the transaction will accelerate its growth and is expected to be neutral to non-GAAP EPS in year one and meaningfully accretive to non-GAAP EPS in year two and beyond. Brigit will diversify Upbound’s revenue/Adjusted EBITDA mix; within the next four years, Upbound expects approximately two-thirds of revenue and Adjusted EBITDA 3 will be derived from virtual and digital platforms. Following the transaction, Upbound expects pro forma net leverage ratio of approximately 3x 4 and pro forma available liquidity of nearly $300 million 5. Upbound continues to target leverage of approximately 2x over the long-term. The acquisition is expected to close in Q1 2025, subject to receipt of requisite regulatory approvals and satisfaction of other customary closing conditions. Advisors Greenhill & Co. Inc. is acting as financial advisor to Upbound, Sullivan & Cromwell LLP and Mayer Brown LLP are acting as its legal counsel. FT Partners is acting as financial advisor to Brigit and Cooley LLP and Morgan Lewis & Bockius LLP are acting as its legal counsel. Investor Conference Call Details Upbound will host a conference call on Friday, December 13, 2024, at 9:00 am (ET) to discuss this transaction. Interested parties can access a live webcast of the conference call via this link or through the Company's investor relations website. About Upbound Group, Inc. Upbound Group, Inc. (NASDAQ: UPBD), is a technology and data-driven leader in accessible and inclusive financial products that address the evolving needs and aspirations of underserved consumers. The Company’s customer-facing operating units include industry-leading brands such as Rent-A-Center® and Acima® that facilitate consumer transactions across a wide range of store-based and digital retail channels, including over 2,300 company branded retail units across the United States, Mexico and Puerto Rico. Upbound Group, Inc. is headquartered in Plano, Texas. For additional information about the Company, please visit our website Upbound.com . About Brigit Brigit is a holistic financial health app that has helped millions of Americans budget better, get their earned wages early, build their credit through savings, protect themselves from identity theft, and find ways to earn and save money. Its mission is to help everyday Americans build a better financial future. Brigit is backed by Lightspeed, DCM, Nyca, Flourish Ventures, Hummingbird VC, DN Capital, Will Smith, Kevin Durant, and other prominent investors. Cautionary Note Regarding Forward-Looking Statements This press release and the associated investor presentation and webcast contain forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "could," "estimate," "predict," "continue," "should," "anticipate," "believe," or “confident,” or the negative thereof or variations thereon or similar terminology and include, among others, statements concerning (a) the anticipated benefits of the proposed transaction, (b) the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, (c) the anticipated closing date for the proposed transaction, (d) other aspects of both companies’ operations and operating results, and (e) our goals, plans and projections with respect to our operations, financial position and business strategy. However, there can be no assurance that such expectations will occur. The Company's actual future performance could differ materially and adversely from such statements. Factors that could cause or contribute to such material and adverse differences include, but are not limited to: (1) risks relating to the proposed transaction, including (i) the inability to obtain regulatory approvals required to consummate the transaction with Brigit on the terms expected, at all or in a timely manner, (ii) the impact of the additional debt on the Company’s leverage ratio, interest expense and other business and financial impacts and restrictions due to the additional debt, (iii) the failure of conditions to closing the transaction and the ability of the parties to consummate the proposed transaction on a timely basis or at all, (iv) the failure of the transaction to deliver the estimated value and benefits expected by the Company, (v) the incurrence of unexpected future costs, liabilities or obligations as a result of the transaction, (vi) the effect of the announcement of the transaction on the ability of the Company or Brigit to retain and hire necessary personnel and maintain relationships with material commercial counterparties, consumers and others with whom the Company and Brigit do business, (vii) the ability of the Company to successfully integrate Brigit’s operations over time, (viii) the ability of the Company to successfully implement its plans, forecasts and other expectations with respect to Brigit’s business after the closing and (ix) other risks and uncertainties inherent in a transaction of this size and nature, (2) the general strength of the economy and other economic conditions affecting consumer preferences, demand, payment behaviors and spending; (3) factors affecting the disposable income available to the Company's and Brigit’s current and potential customers; (4) the appeal of the Company’s and Brigit’s offerings to consumers; (5) the Company's and Brigit’s ability to protect their proprietary intellectual property; (6) the impact of the competitive environment in the Company’s and Brigit’s industries; (7) the Company's and Brigit’s ability to identify and successfully market products and services that appeal to their current and future targeted customer segments; (8) consumer preferences and perceptions of the Company's and Brigit’s brands; (9) the Company’s and Brigit’s compliance with applicable laws and regulations and the impact of active enforcement of those laws and regulations, including any changes with respect thereto or attempts to recharacterize their offerings as credit sales, (10) information technology and data security costs; (11) the impact of any breaches in data security or other disturbances to the Company's or Brigit’s information technology and other networks and the Company's and Brigit’s ability to protect the integrity and security of individually identifiable data of its customers and employees; and (12) the other risks detailed from time to time in the Company's SEC reports, including but not limited to, its Annual Report on Form 10-K for the year ended December 31, 2023 and in its subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Non-GAAP Financial Measures This release and the associated investor presentation and webcast contain certain financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles (GAAP), including (1) Adjusted EBITDA (net earnings before interest, taxes, stock-based compensation, depreciation and amortization, as adjusted for special items) on a consolidated and segment basis and (2) Net Leverage Ratio (total debt less unrestricted cash, divided by Adjusted EBITDA). “Special items” refers to certain gains and charges we view as extraordinary, unusual or non-recurring in nature or which we believe do not reflect our core business activities. Special items are reported as Other Gains and Charges in our Consolidated Statements of Operations. Because of the inherent uncertainty related to these special items, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measures or reconciliation to any forecasted GAAP measure without unreasonable effort. These non-GAAP measures are additional tools intended to assist our management in comparing our performance on a more consistent basis for purposes of business decision-making by removing the impact of certain items management believes do not directly reflect our core operations. These measures are intended to assist management in evaluating operating performance and liquidity, comparing performance and liquidity across periods, planning and forecasting future business operations, helping determine levels of operating and capital investments and identifying and assessing additional trends potentially impacting our Company that may not be shown solely by comparisons of GAAP measures. Consolidated Adjusted EBITDA is also used as part of our incentive compensation program for our executive officers and others. We believe these non-GAAP financial measures also provide supplemental information that is useful to investors, analysts and other external users of our consolidated financial statements in understanding our financial results and evaluating our performance and liquidity from period to period. However, non-GAAP financial measures have inherent limitations and are not substitutes for, or superior to, GAAP financial measures, and they should be read together with our consolidated financial statements prepared in accordance with GAAP. Further, because non-GAAP financial measures are not standardized, it may not be possible to compare such measures to the non-GAAP financial measures presented by other companies, even if they have the same or similar names. ______________________________ 1 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 2 Assumes all Brigit’s cash advances since inception have assisted customers with avoiding overdraft fees at an estimated $34/overdraft. 3 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 4 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 5 Pro forma net leverage ratio (total debt less unrestricted cash, divided by Adjusted EBITDA) and pro forma available liquidity (estimated available borrowings under the company’s revolving credit facility and unrestricted cash) assume the acquisition of Brigit is completed March 31, 2025 and the Company makes the closing date cash payment at that time. Above metrics reflect the Company’s estimates and are not reflective of actual amounts or indicative of future results. View source version on businesswire.com : https://www.businesswire.com/news/home/20241212082702/en/ CONTACT: Investor Contact Jeff Chesnut SVP, Strategy & Corporate Development 972-801-1108 jeff.chesnut@upbound.comMedia Contacts Kelly Kimberly 713-822-7538 Kelly.kimberly@fgsglobal.com Leah Polito 212-687-8080 Leah.polito@fgsglobal.com KEYWORD: TEXAS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: APPS/APPLICATIONS TECHNOLOGY FINANCE FINTECH HEALTH TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE HEALTH DATA MANAGEMENT SOURCE: Upbound Group, Inc. Copyright Business Wire 2024. PUB: 12/12/2024 05:00 PM/DISC: 12/12/2024 05:00 PM http://www.businesswire.com/news/home/20241212082702/en
Schmicko Melbourne Expands Premium Mobile Car Care Services Across Greater Melbourne
NEW YORK (AP) — U.S. stocks are drifting around their records Thursday in the runup to a big jobs report due on Friday. The crypto market had much more action, and bitcoin briefly burst to a record above $103,000 before pulling back. The S&P 500 was edging down by 0.1% after setting an all-time high for the 56th time this year the day before to improve one of its best years of the millennium . The Dow Jones Industrial Average was down 183 points, or 0.4%, with roughly an hour remaining in trading, while the Nasdaq composite was nearly unchanged from its own record set the day before. Bitcoin powered above $100,000 the night before, after President-elect Donald Trump chose a crypto advocate, Paul Atkins, as his nominee to head the Securities and Exchange Commission. The cryptocurrency has climbed dramatically from less than $70,000 on Election Day, but it quickly fell back as Thursday progressed toward $99,000, according to CoinDesk. Sharps swings for bitcoin are nothing new, and they took stocks of companies enmeshed in the crypto world on a similar ride. After rising as much as 9% in early trading, MicroStrategy, a company that’s been raising cash just to buy bitcoin, swung to a loss of 5.9%. Crypto exchange Coinbase Global fell 3.2% after likewise erasing a big early gain. Elsewhere on Wall Street, stocks of airlines helped lead the way following the latest bumps up to financial forecasts from carriers. American Airlines Group soared 18.6% after saying it’s making more in revenue during the last three months of 2024 than it expected, and it will likely make a bigger profit than it had earlier forecast. The airline also chose Citi to be its exclusive partner for credit cards that give miles in its loyalty program. That should help its cash coming in from co-branded credit card and other partners grow by about 10% annually. Southwest Airlines climbed 3.4% after saying it’s seeing stronger demand from leisure travelers than it expected. It also raised its forecast for revenue for the holiday traveling season. On the losing end of Wall Street was Synposys, which tumbled 12.1%. The supplier for the semiconductor industry reported better profit for the latest quarter than analysts expected, but it also warned of “continued macro uncertainties” and gave a forecast for revenue in the current quarter that fell short of some analysts’ estimates. American Eagle Outfitters fell even more, 15.3%, after the retailer said it’s preparing for “potential choppiness” outside of peak selling periods. It was reminiscent of a warning from Foot Locker earlier in the week and raised more concerns about how resilient U.S. shoppers can remain. Solid spending by U.S. consumers has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable after the Federal Reserve hiked interest rates to crush inflation. But shoppers are now contending with still-high prices and a slowing job market . This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A report on Thursday said the number of U.S. workers applying for unemployment benefits rose last week but remains at historically healthy levels. Expectations are high that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. In the bond market, the yield on the 10-year Treasury held steady at 4.18%, where it was late Wednesday. In stock markets abroad, indexes were mostly calm in Europe after far-right and left-wing lawmakers in France joined together to vote on a no-confidence motion prompted by budget disputes that will force Prime Minister Michel Barnier and his Cabinet to resign. The CAC 40 index in Paris added 0.4%. In South Korea, the Kospi fell 0.9% to compound its 1.4% decline from the day before. President Yoon Suk Yeol was facing possible impeachment after he suddenly declared martial law on Tuesday night. He revoked the martial law declaration six hours later. Crude oil prices slipped after eight members of the OPEC+ alliance of oil exporting countries decided to put off increasing oil production. AP Business Writers Yuri Kageyama and Matt Ott contrributed.Jazz At The Crossroads: Youth Movement, Trade Rumors Dominate Utah’s Season
House rejects Democratic efforts to force release of Matt Gaetz ethics report
Pacific news in brief for 30 DecemberNEW YORK, Dec. 29, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Wolfspeed, Inc. (NYSE: WOLF) between August 16, 2023 and November 6, 2024, both dates inclusive (the “Class Period”), of the important January 17, 2025 lead plaintiff deadline. SO WHAT: If you purchased Wolfspeed securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Wolfspeed class action, go to https://rosenlegal.com/submit-form/?case_id=30954 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 17, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: The alleged representations in this action concern Wolfspeed’s Mohawk Valley, New York fabrication facility. The complaint alleges that defendants provided the public with revenue projections that depended on the Mohawk Valley fabrication facility ramping its production to meet and/or exceed demand for its 200mm wafer product. According to the lawsuit, defendants provided these overwhelmingly positive statements to investors while simultaneously misrepresenting and/or concealing material adverse facts concerning the true state of Wolfspeed’s growth potential and, in particular, the operational status and profitability of the Mohawk Valley fabrication facility. First, to meet its publicly stated projections, Wolfspeed would have to cancel or otherwise indefinitely suspend planned future projects such as the facility in Saarland, Germany. Second, Wolfspeed would have to terminate a significant portion of its workforce and shutter its Durham, North Carolina fabrication facility. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Wolfspeed class action, go to https://rosenlegal.com/submit-form/?case_id=30954 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com
