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NEW YORK (AP) — U.S. stock indexes drifted amid mixed trading Monday, ahead of this week’s upcoming meeting by the Federal Reserve that could set Wall Street’s direction into next year. The S&P 500 rose 0.4%, coming off its first losing week in the last four . The Nasdaq composite climbed 1.2% to a record, while the Dow Jones Industrial Average was a laggard and fell 110 points, or 0.3%. Broadcom leaped 11.2% to help lead the S&P 500 for a second straight day after delivering a profit report last week that beat analysts’ expectations. The technology company is riding a wave of enthusiasm about its artificial-intelligence offerings in particular. The market’s main event, though, will arrive on Wednesday when the Federal Reserve will announce its last move on interest rates for the year. The widespread expectation is that it will cut its main rate for a third straight time, as it tries to boost the slowing job market after getting inflation nearly all the way down to its target of 2%. The question is how much more it will cut rates next year, and Fed officials will release projections for where they see the federal funds rate ending 2025, along with other economic indicators, once their meeting concludes. Fed Chair Jerome Powell will also answer questions in a press conference following the meeting. For now, the general expectation among traders is that the Fed may cut a couple more times in 2025, according to data from CME Group. But such expectations have been shrinking following reports suggesting inflation may be tougher to get all the way down to 2% from here. Besides last month’s slight acceleration in inflation, another worry is that President-elect Donald Trump’s preferences for tariffs and other policies could lead to higher inflation down the line. Goldman Sachs economist David Mericle has dropped his earlier forecast of a cut by the Fed in January, for example. Beyond the possibility of tariffs, he said Fed officials may also want to slow their cuts because of uncertainty about exactly how low rates need to go so that they no longer press the brakes on the economy. Expectations for a series of cuts to rates by the Fed have been one of the main reasons the S&P 500 has set an all-time high 57 times so far this year and is heading for one of its best years of the millennium . The economy has held up better than many feared, continuing to grow even after the Fed hiked the federal funds rate to a two-decade high in hopes of grinding down on inflation, which topped 9% two summers ago. On Wall Street, MicroStrategy jumped as much as 7% during the day as it continues to benefit from the surging price for bitcoin , which set another all-time high. But its stock ended the day down by les than 0.1% after bitcoin’s price pulled back below $106,000 after setting a record above $107,700, according to CoinDesk. The software company has been building its hoard of the cryptocurrency, and its stock price has more than sextupled this year. It will also soon join the Nasdaq 100 index. Bitcoin’s price has catapulted from roughly $44,000 at the start of the year, riding a recent wave of enthusiasm that Trump will create a system that’s more favorable to digital currencies . Honeywell rose 3.7% after saying it’s still considering a spin-off or sale of its aerospace business, as part of a review of its overall business. It said it plans to give an update with the release of its fourth-quarter results. They helped offset a drop for Nvidia, whose chips are powering much of the world’s move into AI. Its stock fell 1.7%. Because it’s grown so massive, with a total value topping $3 trillion, it was the single heaviest weight on the S&P 500. All told, the S&P 500 rose 22.99 points to 6,074.08. The Dow Jones Industrial Average fell 110.58 to 43,717.48, and the Nasdaq composite rose 247.17 to 20,173.89. In the bond market, Treasury yields held relatively steady. The yield on the 10-year Treasury edged down to 4.39% from 4.40% late Friday. The two-year yield, which more closely tracks expectations for the Fed, eased to 4.24% from 4.25%. In stock markets abroad, indexes fell modestly across much of Europe and Asia. They sank 0.9% in Hong Kong and 0.2% in Shanghai after China reported lackluster economic indicators for November despite attempts to strengthen the world’s second-largest economy. South Korea’s Kospi fell 0.2% as law enforcement authorities pushed to summon impeached President Yoon Suk Yeol for questioning over his short-lived martial law decree, and the Constitutional Court met to discuss whether to remove him from office or reinstate him. AP Business Writer Elaine Kurtenbach contributed.Culpeper Schools win inaugural awardSAN FRANCISCO, Dec. 16, 2024 (GLOBE NEWSWIRE) -- On December 4, 2024, automation technology company Symbotic Inc. (NASDAQ: SYM) filed restated financial statements for the quarters ended December 30, 2023, March 30, 2024, and June 30, 2024 (the “restatements”). Each of the restatements contained adjustments to its previously filed financial reports for those periods that demonstrate Symbotic had significantly: (1) overstated its systems revenue; (2) overstated its gross profit; (3) understated its operating loss; and (4) understated its net loss making significant adjustments to its previously filed interim financial reports. The restatement comes on the heels of a securities fraud class action lawsuit challenging Symbotic’s alleged improper accounting. Hagens Berman has opened an investigation and urges investors in Symbotic shares who suffered substantial losses to submit your losses now . Class Period: Feb. 8, 2024 – Nov. 26, 2024 Lead Plaintiff Deadline: Feb. 3, 2025 Visit: www.hbsslaw.com/investor-fraud/sym Contact the Firm Now: SYM@hbsslaw.com | 844-916-0895 Securities Class Action Against Symbotic Inc. (SYM): The litigation challenges Symbotic’s repeated assurances to investors of the integrity of its financial reporting while concealing improper revenue recognition practices. Specifically, the complaint accuses Symbotic of inflating its financial performance by accelerating revenue recognition in its 2024 statements, misleading investors about the company's true health. The truth emerged on Nov. 27, 2024, when Symbotic revealed errors in its revenue recognition related to unbillable cost overruns. These errors impacted all quarters of fiscal year 2024, with the company estimating a combined reduction of $30 to $40 million in system revenue and other key financial metrics. Adding to the concerns, Symbotic admitted to weaknesses in its internal controls over financial reporting, raising questions about the company's oversight practices. Prominent shareholder rights firm Hagens Berman is investigating the allegations to determine whether these accounting errors were intentional attempts to manipulate the company's financial performance. “Symbotic's accounting practices have come under scrutiny, with allegations of improper revenue recognition and internal control weaknesses. These issues have raised serious concerns about the company's financial health and future prospects,” said Reed Kathrein, the Hagens Berman partner leading the investigation. If you invested in Symbotic and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now . If you’d like more information and answers to frequently asked questions about the Symbotic case and our investigation, read more . Whistleblowers: Persons with non-public information regarding Symbotic should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SYM@hbsslaw.com . About Hagens Berman Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com . Follow the firm for updates and news at @ClassActionLaw . Contact: Reed Kathrein, 844-916-0895
Homeland Security chief Alejandro Mayorkas easily dodged the softball questions from CNN when asked about the mysterious drones flying above New Jersey. The CNN interview on December 13 was a layup for Mayorkas, largely because CNN’s Wolf Blitzer did not ask Mayorkas the core question: Are these unidentified aircraft operated by the federal government or one of its subcontractors? Instead, Wolfe asked a series of puffball questions that Mayorkas confidently evaded with generalities, off-subject comments, and by ignoring the question. Mayorkas is a lawyer. He has used his verbal skills since 2021 to evade and escape the sloppy questions by politicians and journalists about the border crisis created by his determined welcome for at least 7 million illegal migrants. President-elect Donald Trump, however, got straight to the point with a December 13 post: Mayorkas is the man to ask about the drones because he is supposed to protect Americans from emerging threats, and his deputies are in routine contact with other government agencies that might be developing and testing classified drones, for example, to detect gamma rays from smuggled nuclear bombs. His department’s website says : One of the Department’s top priorities is to resolutely protect Americans from terrorism and other homeland security threats by preventing nation-states and their representatives, transnational criminal organizations, and groups or individuals from engaging in terrorist or criminal acts that threaten the Homeland. Government officials are often very cautious about their media appearance. They can and do negotiate conditions and questions with media outlets — especially with TV hosts who crave the “get” of hosting important figures for useful or pointless interviews. Wolfe began the six-minute interview with a softball question, asking Mayorkas, “What can you say to those Americans who are deeply concerned right now about all these sightings over New Jersey, New York, here and outside of Washington, D.C., in Maryland?” “Let me calm those nerves,” Mayorkas condescendingly responded as he refused to admit, describe, or explain the visible aircraft: We have not seen anything unusual. We have not seen any unusual activity. We know of no threat, we know of no nefarious activity. I want to repeat that we have not seen anything unusual ... It is very common for individuals who think they see drones to actually see small aircraft, and we have a case of mistaken identity. Also, we have six different people reporting what they think is a drone, and all of a sudden we have reports of six drone sightings. Then he offered an irrelevant diversion, stating, “I have been in touch with [New Jersey] Governor Murphy every day.” Blitzer then changed the subject to comments from President-elect Donald Trump. In turn, Mayorkas talked about a pending bill that would allow federal agencies to counter drone activities on the U.S. border. Next, Blitzer changed the subject to a sharp question from Rep. Jeff Van Drew (R-NJ), who asked, “Why don’t they take one of them down, analyze it, and let us know what’s really happening?” Mayorkas simply changed the subject: Well, first of all, we have experts, and you should not diminish the extent of their expertise and the extent of their dedication to the well-being of the American people. These are individuals who dedicate their careers to the safety and security of the United States of America, number one. Wolfe then edged towards an interesting question by asking, “Do you have the authority to shoot down drones?” Mayorkas narrowed and dodged the question, saying, “Our authorities are very limited ... We can’t just shoot a drone out of the sky.” “Wouldn’t it be smart to at least get a look at these drones to see if they are armed?” Blitzer asked. Mayorkas simply changed the subject, stating, “Wolf, there is no question that technology has advanced in the realm of drones.” Mayorkas is a pro-government progressive who has used his time at the department to import more than 10 million legal and illegal migrants. He was impeached by the GOP-run House in January 2024 for “failure to comply with Federal immigration laws and breaching the public trust,” but was let off by the Democratic-led Senate in April 2024.Culpeper Schools win inaugural awardNone
Latest Pixels can run without battery power, and use AC power directlyNEW YORK — Eli Manning is one step away from becoming a first-ballot Hall of Famer. The former Giants quarterback was named one of 15 modern-era finalists for the Pro Football Hall of Fame’s Class of 2025. Manning now needs at least 80% of the Selection Committee’s vote in order to be eligible for induction. Up to five modern-era players can be elected for the Class of 2025, which will be announced at the “NFL Honors” ceremony on Feb. 6. Manning is the lone quarterback on this year’s list of finalists. He is one of six first-time finalists, joining wide receiver Steve Smith Sr.; linebackers Luke Kuechly and Terrell Suggs; offensive lineman Marshal Yanda; and kicker Adam Vinatieri. Among them, only Smith is not in his first year of eligibility. Rounding out the list of finalists announced Saturday are receivers Reggie Wayne and Torry Holt; tight end Antonio Gates; offensive linemen Jahri Evans and Willie Anderson; defensive backs Eric Allen and Darren Woodson; defensive end Jared Allen; and running back Fred Taylor. That group was whittled down from an original pool of 167 nominees. The Hall announced its 25 semifinalists in November, with safety Earl Thomas, defensive tackle Vince Wilfork and defensive end Robert Mathis among the notable members from that stage to not make it to the final 15. Manning led the Giants to Super Bowl victories over Tom Brady’s New England Patriots after the 2007 and 2011 seasons and was named MVP of both games. He led game-winning drives in both of those Super Bowls, including famously escaping a sack and completing the “helmet catch” to David Tyree to give the previously undefeated 2007 Patriots their first loss. Manning, who retired after the 2019 season, ranks 11th in NFL history in passing yards (57,023), passing touchdowns (366) and completions (4,895). But Manning’s candidacy as a first-ballot Hall of Famer has been the subject of fierce debate, largely because he went 117-117 in the regular season over his 16 years in the NFL, all with the Giants. He went 8-4 in the postseason. Manning, 43, would join older brother Peyton Manning in the Hall of Fame. He would become the 33rd Giant to be inducted, a list that includes former teammate Michael Strahan, as well as Lawrence Taylor, Harry Carson, Frank Gifford and Bill Parcells. Overall, the Hall will induct between four and eight candidates in 2025, with as many as three coming from seniors category. The five finalists in the seniors category are Maxie Baughan, Sterling Sharpe and Jim Tyrer, coach Mike Holmgren and contributor Ralph Hay. Former Giants head coach Tom Coughlin, who won both Super Bowls with Manning, was a semifinalist in the seniors category but was left off of the list of finalists in what many considered a snub.Putin apologizes for crash but stops short of saying Azerbaijani plane was shot down
Natera, Inc. ( NASDAQ:NTRA – Get Free Report ) insider John Fesko sold 669 shares of Natera stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $159.60, for a total value of $106,772.40. Following the completion of the sale, the insider now directly owns 114,142 shares in the company, valued at $18,217,063.20. This represents a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website . Natera Stock Performance Shares of NTRA stock opened at $160.26 on Friday. The company has a market capitalization of $21.16 billion, a price-to-earnings ratio of -91.06 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.23 and a current ratio of 4.39. Natera, Inc. has a 52 week low of $58.53 and a 52 week high of $175.63. The company has a 50-day simple moving average of $150.16 and a 200 day simple moving average of $127.78. Natera ( NASDAQ:NTRA – Get Free Report ) last posted its earnings results on Tuesday, November 12th. The medical research company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.31. The company had revenue of $439.80 million for the quarter, compared to the consensus estimate of $361.43 million. Natera had a negative return on equity of 26.23% and a negative net margin of 14.01%. The firm’s revenue for the quarter was up 63.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.95) earnings per share. On average, sell-side analysts predict that Natera, Inc. will post -1.61 earnings per share for the current year. Institutional Investors Weigh In On Natera Wall Street Analyst Weigh In A number of equities research analysts recently issued reports on the company. Leerink Partners lifted their target price on Natera from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler boosted their price objective on shares of Natera from $150.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. The Goldman Sachs Group raised their target price on shares of Natera from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. TD Cowen boosted their price target on shares of Natera from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird raised their price objective on Natera from $120.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.67. Read Our Latest Research Report on NTRA About Natera ( Get Free Report ) Natera, Inc, a diagnostics company, develops and commercializes molecular testing services worldwide. Its products include Panorama, a non-invasive prenatal test that screens for chromosomal abnormalities of a fetus, as well as in twin pregnancies; Horizon carrier screening test for individuals and couples determine if they are carriers of genetic variations that cause certain genetic conditions; Vistara single-gene NIPT screens for 25 single-gene disorders that cause severe skeletal, cardiac, and neurological conditions; Spectrum, preimplantation genetic tests for couples undergoing IVF; Anora that analyzes miscarriage tissue from women; Empower, a hereditary cancer screening test; and non-invasive prenatal paternity product, which allows a couple to establish paternity without waiting for the child to be born. Featured Articles Receive News & Ratings for Natera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Natera and related companies with MarketBeat.com's FREE daily email newsletter .Pet Insurance Market Expected to Reach $38.3 Billion by 2033Touchless trash cans are one of the latest innovations in automated kitchen technology. They use infrared motion sensors to automatically lift the lid, allowing users to dispose of trash without touching the can. This hands-free operation makes them not only efficient and easy to use but also improves kitchen hygiene as it helps reduce contact with germs, bacteria and parasites that are often found in household waste. Choosing the ideal touchless trash can for your home will depend on several factors, from the number of people in your household to the shape, size and material that best suits your decor. 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US coach Emma Hayes admits to anthem uncertainty ahead of England stalemate
Wall Street's benchmark S&P 500 index rose on Wednesday and a rally in tech stocks lifted the Nasdaq above the 20,000-point milestone for the first time, after a U.S. inflation report boosted expectations of a Federal Reserve interest rate cut. The Dow Jones Industrial Average dipped, dragged by health insurers as U.S. lawmakers introduced a bill seen as crimping their profits. A Labor Department report showed U.S. consumer prices in November increased by the most in seven months, though broadly in line with market expectations. According to preliminary data, the S&P 500 .SPX gained 49.21 points, or 0.82%, to end at 6,084.12 points, while the Nasdaq Composite .IXIC gained 347.66 points, or 1.77%, to 20,034.90. The Dow Jones Industrial Average .DJI fell 94.48 points, or 0.21%, to 44,153.35. "Nasdaq is rallying on the prospect of a rate cut next week and has room to move higher," said Peter Cardillo, chief market economist at Spartan Capital Securities. Capitalize on high interest rates: Best current CD rates Markets are pricing in more than a 96% chance the Fed will cut rates by 25 basis points next week, up from an 86% chance before the data, according to CME's FedWatch Tool. Bets had risen following Friday's employment report, which showed an uptick in unemployment alongside a surge in job growth. The yield on benchmark U.S. 10-year notes US10YT=RR rose 5.2 basis points to 4.267%. "The equity market seems to be breathing a sigh of relief that this is another steady-as-she-goes report," said Wasif Latif, chief investment officer at Sarmaya Partners in New Jersey. "There's no surprises. It seems the equity market was braced for a higher than expected number." Tesla TSLA.O shares climbed to a record high as the electric vehicle maker extended a rally in the wake of the U.S. presidential election. Nvidia NVDA.O and other megacap growth stocks, including Alphabet GOOGL.O and Amazon AMZN.O, also finished higher. Trump trades and tariffs: Here's how to prepare your finances for the next administration. Hint: don't hoard. Pharmacy benefit managers, including Cigna CI.N, CVS Health CVS.N, and UnitedHealth Group UNH.N, lost ground after a bipartisan group of lawmakers introduced a bill that would force health insurers or drug middlemen to divest their pharmacy businesses. GameStop GME.N gained after the videogame retailer reported a profit for the third quarter on cost-saving efforts. Broadcom AVGO.O jumped following a report that Apple AAPL.O is working with the company to develop its first server chip specially designed for artificial intelligence. Macy's M.N shed after the department-store bellwether cut its annual profit forecast as persistent weakness in demand clouded its expectations for the holiday shopping season. Reporting by Purvi Agarwal and Shashwat Chauhan in Bengaluru; Editing by Anil D'Silva, Maju Samuel and David Gregorio
ANN ARBOR, Mich. — Michigan's defense of the national championship has fallen woefully short. The Wolverines started the season ranked No. 9 in the AP Top 25, making them the third college football team since 1991 to be ranked worse than seventh in the preseason poll after winning a national title. Michigan (6-5, 4-4 Big Ten) failed to meet those modest expectations, barely becoming eligible to play in a bowl and putting the program in danger of losing six or seven games for the first time since the Brady Hoke era ended a decade ago. The Wolverines potentially can ease some of the pain with a win against rival and second-ranked Ohio State (10-1, 7-1, No. 2 CFP) on Saturday in the Horseshoe, but that would be a stunning upset. Ohio State is a 21 1/2-point favorite, according to the BetMGM Sportsbook, and that marks just the third time this century that there has been a spread of at least 20 1/2 points in what is known as "The Game." Michigan coach Sherrone Moore doesn't sound like someone who is motivating players with an underdog mentality. "I don't think none of that matters in this game," Moore said Monday. "It doesn't matter the records. It doesn't matter anything. The spread, that doesn't matter." How did Michigan end up with a relative mess of a season on the field, coming off its first national title since 1997? Winning it all with a coach and star player contemplating being in the NFL for the 2024 season seemed to have unintended consequences for the current squad. The Wolverines closed the College Football Playoff with a win over Washington on Jan. 8; several days later quarterback J.J. McCarthy announced he was skipping his senior season; and it took more than another week for Jim Harbaugh to bolt to coach the Los Angeles Chargers. In the meantime, most quality quarterbacks wanting to transfer had already enrolled at other schools and Moore was left with lackluster options. Davis Warren beat out Alex Orji to be the team's quarterback for the opener and later lost the job to Orji only to get it back again. No matter who was under center, however, would've likely struggled this year behind an offensive line that sent six players to the NFL. The Wolverines lost one of their top players on defense, safety Rod Moore, to a season-ending injury last spring and another one, preseason All-America cornerback Will Johnson, hasn't played in more than a month because of an injury. The Buckeyes are not planning to show any mercy after losing three straight in the series. "We're going to attack them," Ohio State defensive end Jack Sawyer said. "We know they're going to come in here swinging, too, and they've still got a good team even though the record doesn't indicate it. This game, it never matters what the records are." While a win would not suddenly make the Wolverines' season a success, it could help Moore build some momentum a week after top-rated freshman quarterback Bryce Underwood flipped his commitment from LSU to Michigan. "You come to Michigan to beat Ohio," said defensive back Quinten Johnson, intentionally leaving the word State out when referring to the rival. "That's one of the pillars of the Michigan football program. "It doesn't necessarily change the fact of where we are in the season, but it definitely is one of the defining moments of your career here at Michigan." AP Sports Writer Mitch Stacy in Columbus, Ohio, contributed to this report. Get local news delivered to your inbox!
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