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Elon Musk, the world's richest person and one of Donald Trump's closest allies, met with US lawmakers Thursday on his plans for overseeing radical government spending cuts under the incoming administration. President-elect Trump rewarded the Tesla, X and SpaceX chief for his support during the White House campaign by naming him head of the newly created Department of Government Efficiency, along with another wealthy ally, Vivek Ramaswamy. Although the office, dubbed DOGE, has a purely advisory role, Musk's star power and intense influence in Trump's inner circle bring political clout. As Musk and Ramaswamy strode into the Capitol for meetings with lawmakers, Republican Speaker Mike Johnson touted "a new day in America." "There's an enormous amount of waste, fraud and abuse," he told reporters. "Government is too big, it does too many things, and it does almost nothing well." Musk and Ramaswamy have said they can identify billions of dollars of cuts in spending, sparking questions about whether Republicans will even try to slash politically popular social security programs. Writing in the Wall Street Journal last month, the two businessmen laid out plans for the White House to cut staff, trim government programs and reduce federal regulations, even if it means bypassing Congress, which holds budgetary power. "The entrenched and ever-growing bureaucracy represents an existential threat to our republic, and politicians have abetted it for too long," Musk and Ramaswamy wrote. "We're doing things differently. We are entrepreneurs, not politicians. During Trump's election campaign, Musk vowed to reduce federal spending by $2 trillion. This would represent cutting total US spending by a third, almost certainly meaning devastation of social support programs -- something that has never garnered strong political backing. Musk's emphasis on firing large numbers of government employees, however, echoes Republican talking points about the need to take on an overbearing state and may garner more support. Musk says he is seeking "mass head-count reductions across the federal bureaucracy." Musk suggested banning government employees from working at home as an opening tactic. "Requiring federal employees to come to the office five days a week would result in a wave of voluntary terminations that we welcome." Cuts will also target subsidies to public broadcasters and groups such as Planned Parenthood, which campaigns for abortion access and offers an array of reproductive health services. But DOGE is unlikely, at least initially, to go after welfare programs such as Social Security or health insurance for the poor and seniors, Ramaswamy said in an interview with Axios on Wednesday. Such cuts should be "a policy decision that belongs to the voters" and their representatives in Congress, Ramaswamy said. A reduction in military spending, which climbed to $820 billion in 2023, is also unlikely to be on the table. Musk's new role raises the question of potential conflicts of interest, since he could be issuing policy recommendations that impact directly on his own business empire. Underlining the close connection to DOGE, Musk's favorite cryptocurrency is called Dogecoin. rle/ev/md/sms/mdfortune gems free game 。

LAS VEGAS (AP) — Brett Howden scored his 15th goal of the season and Ilya Samsonov stopped 31 shots as the Vegas Golden Knights defeated the Calgary Flames 3-0 on Sunday night. Howden redirected defenseman Alex Pietrangelo’s shot from the top of the slot late in the second period and is now tied with Ivan Barbashev for the team lead in goals. Howden has scored a goal in four of the last five games. Victor Olofsson and Tanner Pearson also scored for the Golden Knights, who have shut out Calgary twice this season, beating them 5-0 on Oct. 28 . Dan Vladar made 34 saves for Calgary. The Golden Knights have now won six straight, the longest active win streak in the NHL, while improving to 25-8-3 on the year. They own a 13-2-1 record against Pacific Division opponents. Calgary (17-12-7) dropped to 4-4-1 against Pacific Division teams. Takeaways Calgary: The Flames played in their fourth back-to-back set following Saturday’s 3-1 win in San Jose. Calgary is 3-1-0 in game one of a back-to-back scenario and dropped to 1-3-0 in game two of back-to-backs. Vegas: The Golden Knights scored twice in the third period and now boast a league-best plus-30 goal differential in the third period. Key Moment Spanning the end of the first period and into the second period, the Golden Knights were successful in staving off a Calgary power play, which included a 5-on-3 for roughly a minute after Howden was given a double-minor for a high stick to Jonathan Huberdeau’s head. Samsonov stopped five shots during the entire sequence. Key stat 200 — Jack Eichel played in his 200th game as a Golden Knight, while Bruce Cassidy coached his 200th game with Vegas. Up next The Flames host Vancouver on Tuesday. Vegas will host Montreal on Tuesday. ___ AP NHL: https://apnews.com/hub/nhl W.g. Ramirez, The Associated Press

Artificial intelligence (AI) tools could be used to manipulate online audiences into making decisions – ranging from what to buy to who to vote for – according to researchers at the University of Cambridge. The paper highlights an emerging new marketplace for “digital signals of intent” – known as the “intention economy” – where AI assistants understand, forecast and manipulate human intentions and sell that information on to companies who can profit from it. The intention economy is touted by researchers at Cambridge’s Leverhulme Centre for the Future of Intelligence (LCFI) as a successor to the attention economy, where social networks keep users hooked on their platforms and serve them adverts. The intention economy involves AI-savvy tech companies selling what they know about your motivations, from plans for a stay in a hotel to opinions on a political candidate, to the highest bidder. “For decades, attention has been the currency of the internet ,” said Dr Jonnie Penn, an historian of technology at LCFI. “Sharing your attention with social media platforms such as Facebook and Instagram drove the online economy.” He added: “Unless regulated, the intention economy will treat your motivations as the new currency. It will be a gold rush for those who target, steer and sell human intentions. “We should start to consider the likely impact such a marketplace would have on human aspirations, including free and fair elections, a free press and fair market competition, before we become victims of its unintended consequences.” The study claims that large language models (LLMs), the technology that underpins AI tools such as the ChatGPT chatbot, will be used to “anticipate and steer” users based on “intentional, behavioural and psychological data”. The authors said the attention economy allows advertisers to buy access to users’ attention in the present via real-time bidding on ad exchanges or buy it in the future by acquiring a month’s-worth of ad space on a billboard. LLMs will be able to access attention in real-time as well, by, for instance, asking if a user has thought about seeing a particular film – “have you thought about seeing Spider-Man tonight?” – as well as making suggestions relating to future intentions, such as asking: “You mentioned feeling overworked, shall I book you that movie ticket we’d talked about?” The study raises a scenario where these examples are “dynamically generated” to match factors such as a user’s “personal behavioural traces” and “psychological profile”. “In an intention economy, an LLM could, at low cost, leverage a user’s cadence, politics, vocabulary, age, gender, preferences for sycophancy, and so on, in concert with brokered bids, to maximise the likelihood of achieving a given aim (eg to sell a film ticket),” the study suggests. In such a world, an AI model would steer conversations in the service of advertisers, businesses and other third parties. Advertisers will be able to use generative AI tools to create bespoke online ads, the report claims. It also cites the example of an AI model created by Mark Zuckerberg’s Meta, called Cicero, that has achieved the “human-level” ability to play the board game Diplomacy – a game that the authors say is dependent on inferring and predicting the intent of opponents. AI models will be able to tweak their outputs in response to “streams of incoming user-generated data”, the study added, citing research showing that models can infer personal information through workaday exchanges and even “steer” conversations in order to gain more personal information. The study then raises a future scenario where Meta will auction off to advertisers a user’s intent to book a restaurant, flight or hotel. Although there is already an industry devoted to forecasting and bidding on human behaviour, the report said, AI models will distill those practices into a “highly quantified, dynamic and personalised format”. The study quotes the research team behind Cicero warning that an “[AI] agent may learn to nudge its conversational partner to achieve a particular objective”. The research refers to tech executives discussing how AI models will be able to predict a user’s intent and actions. It quotes the chief executive of the largest AI chipmaker, Jensen Huang of Nvidia , who said last year that models will “figure out what is your intention, what is your desire, what are you trying to do, given the context, and present the information to you in the best possible way”.

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HOUSTON--(BUSINESS WIRE)--Dec 5, 2024-- Hewlett Packard Enterprise (NYSE: HPE) today announced financial results for the fourth quarter ended October 31, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241205728686/en/ “HPE delivered an exceptional fourth quarter with record quarterly revenue, capping off a strong FY 2024. We exceeded our full-year commitments for revenue, EPS, and free cash flow,” said Antonio Neri, president and CEO of Hewlett Packard Enterprise. “Our differentiated portfolio across hybrid cloud, AI, and networking, which will be further enhanced with the pending Juniper Networks acquisition, positions us well to capitalize on the market opportunity, accelerating value for our shareholders.” “Our exceptional revenue, profitability, and higher-than-expected free cash flow this fiscal year reflect disciplined execution and improving customer demand across our portfolio,” said Marie Myers, executive vice president and CFO of Hewlett Packard Enterprise. “We are pleased to have exceeded our commitments and look forward to the opportunities ahead in fiscal year 2025.” Fourth Quarter Fiscal 2024 Financial Results Fourth Quarter Fiscal 2024 Segment Results Dividend The HPE Board of Directors declared a regular cash dividend of $0.13 per share on the company’s common stock, payable on January 16, 2025, to stockholders of record as of the close of business on December 20, 2024. Fiscal 2025 First Quarter Outlook HPE estimates revenue to grow by mid-teens percent when compared to revenue for the prior-year period. HPE estimates GAAP diluted net EPS to be in the range of $0.31 to $0.36 and non-GAAP diluted net EPS (1) to be in the range of $0.47 to $0.52. Fiscal 2025 first quarter non-GAAP diluted net EPS excludes net after-tax adjustments of $0.16 per diluted share primarily related to stock-based compensation, acquisition, disposition and other related charges and amortization of intangible assets. Juniper Networks Pending Transaction Update HPE’s pending acquisition of Juniper Networks, Inc. has received approval from key jurisdictions including the European Union, United Kingdom, India, South Korea, and Australia, among others. HPE and Juniper Networks are cooperatively engaged with the U.S. Department of Justice as the agency continues to review the transaction into the new calendar year. HPE and Juniper expect that the transaction will close in the early part of 2025 — within the previously stated timeframe. 1 A description of HPE’s use of non-GAAP financial information is provided below under “Use of non-GAAP financial information and key performance metrics.” 2 Annualized Revenue Run-Rate (“ARR”) is a financial metric used to assess the growth of the Consumption Services offerings. ARR represents the annualized revenue of all net HPE GreenLake cloud services revenue, related financial services revenue (which includes rental income from operating leases and interest income from finance leases), and software-as-a-Service, software consumption revenue, and other as-a-Service offerings, recognized during a quarter and multiplied by four. We use ARR as a performance metric. ARR should be viewed independently of net revenue and is not intended to be combined with it. 3 Free cash flow represents cash flow from operations, less net capital expenditures (investments in property, plant & equipment (“PP&E”) and software assets less proceeds from the sale of PP&E), and adjusted for the effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash.​ About Hewlett Packard Enterprise Hewlett Packard Enterprise (NYSE: HPE) is the global edge-to-cloud company that helps organizations accelerate outcomes by unlocking value from all of their data, everywhere. Built on decades of reimagining the future and innovating to advance the way people live and work, HPE delivers unique, open and intelligent technology solutions as a service. With offerings spanning Cloud Services, Server, Intelligent Edge, Software, and Hybrid Cloud, HPE provides a consistent experience across all clouds and edges, helping customers develop new business models, engage in new ways, and increase operational performance. For more information, visit: www.hpe.com . Use of non-GAAP financial information and key performance metrics To supplement Hewlett Packard Enterprise’s condensed consolidated financial statement information presented on a generally accepted accounting principles (“GAAP”) basis, Hewlett Packard Enterprise provides financial measures, including revenue on a constant currency basis (including at the business segment level), non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating profit (non-GAAP earnings from operations), non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue), non-GAAP income tax rate, non-GAAP net earnings, non-GAAP diluted net earnings per share and free cash flow (“FCF”). Hewlett Packard Enterprise also provides forecasts of revenue growth on a constant currency basis, non-GAAP diluted net earnings per share, non-GAAP operating profit growth, and FCF. Reconciliations of each of these non-GAAP financial measures to their most directly comparable GAAP measures for this quarter and prior periods are included in the tables below or elsewhere in the materials accompanying this news release. In addition an explanation of the ways in which Hewlett Packard Enterprise’s management uses these non-GAAP measures to evaluate its business, the substance behind Hewlett Packard Enterprise’s decision to use these non-GAAP measures, the material limitations associated with the use of these non-GAAP measures, the manner in which Hewlett Packard Enterprise’s management compensates for those limitations, and the substantive reasons why Hewlett Packard Enterprise’s management believes that these non-GAAP measures provide supplemental useful information to investors is included further below. This additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for revenue, gross profit, gross profit margin, operating profit (earnings from operations), operating profit margin (earnings from operations as a percentage of net revenue), net earnings, diluted net earnings per share, and cash flow from operations prepared in accordance with GAAP. In addition to the supplemental non-GAAP financial information, Hewlett Packard Enterprise also presents annualized revenue run-rate (“ARR”) as performance metric. ARR is a financial metric used to assess the growth of the Consumption Services offerings. ARR represents the annualized revenue of all net HPE GreenLake cloud services revenue, related financial services revenue (which includes rental income for operating leases and interest income from finance leases), and software-as-a-service (“SaaS”), software consumption revenue, and other as-a-service offerings, recognized during a quarter and multiplied by four. ARR should be viewed independently of net revenue and deferred revenue and are not intended to be combined with any of these items. Forward-looking statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties, and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of Hewlett Packard Enterprise and its consolidated subsidiaries (“Hewlett Packard Enterprise”) may differ materially from those expressed or implied by such forward-looking statements and assumptions. The words “believe”, “expect”, “anticipate”, "guide", “optimistic”, “intend”, “aim”, “will”, "estimates", “may”, “could”, “should” and similar expressions are intended to identify such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any projections, estimations, or expectations of addressable markets and their sizes, revenue (including annualized revenue run rate), margins, expenses (including stock-based compensation expenses), investments, effective tax rates, interest rates, the impact of tax law changes and related guidance and regulations, net earnings, net earnings per share, cash flows, liquidity and capital resources, inventory, order backlog, share repurchases, currency exchange rates, repayments of debts (including our asset-backed debt securities), or other financial items; recent amendments to accounting guidance and any related potential impacts on our financial reporting; any projections or estimations of future orders, including as-a-service orders; any statements of the plans, strategies, and objectives of management for future operations, as well as the execution and consummation of corporate transactions or contemplated acquisitions (including our proposed acquisition of Juniper Networks, Inc.) and dispositions (including disposition of our H3C shares and the receipt of proceeds therefrom), research and development expenditures, and any resulting benefit, cost savings, charges, or revenue or profitability improvements; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements concerning technological and market trends, the pace of technological innovation, and adoption of new technologies, including artificial intelligence-related and other products and services offered by Hewlett Packard Enterprise; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on Hewlett Packard Enterprise and our financial performance and our actions to mitigate such impacts to our business; any statements regarding future regulatory trends and the resulting legal and reputational exposure, including but not limited to those relating to environmental, social, and governance, cybersecurity, data privacy, and artificial intelligence issues, among others; any statements regarding pending investigations, claims, or disputes; any statements of expectation or belief, including those relating to future guidance and the financial performance of Hewlett Packard Enterprise; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties, and assumptions include the need to address the many challenges facing Hewlett Packard Enterprise’s businesses; the competitive pressures faced by Hewlett Packard Enterprise’s businesses; risks associated with executing Hewlett Packard Enterprise’s strategy; the impact of macroeconomic and geopolitical trends and events, including but not limited to heightened global trade restrictions, the use and development of artificial intelligence, the inflationary environment (though easing), the ongoing conflicts between Russia and Ukraine and in the Middle East, and the relationship between China and the U.S.; the need to effectively manage third-party suppliers and distribute Hewlett Packard Enterprise’s products and services; the protection of Hewlett Packard Enterprise’s intellectual property assets, including intellectual property licensed from third parties and intellectual property shared with its former parent; risks associated with Hewlett Packard Enterprise’s international operations (including from public health crises, such as pandemics or epidemics, and geopolitical events, such as those mentioned above); the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution of Hewlett Packard Enterprise's transformation and mix shift of its portfolio of offerings, the execution and performance of contracts by Hewlett Packard Enterprise and its suppliers, customers, clients, and partners, including any impact thereon resulting from macroeconomic or geopolitical events such as those mentioned above; the prospect of a shutdown of the U.S. federal government; the hiring and retention of key employees; the execution, consummation, integration, and other risks associated with business combination, disposition, and investment transactions, including but not limited to the risks associated with the disposition of H3C shares and the receipt of proceeds therefrom and completion of our proposed acquisition of Juniper Networks, Inc. and our ability to integrate and implement our plans, forecasts, and other expectations with respect to the consolidated business; the impact of changes to privacy, cybersecurity, environmental, global trade, and other governmental regulations; changes in our product, lease, intellectual property, or real estate portfolio; the payment or non-payment of a dividend for any period; the efficacy of using non-GAAP, rather than GAAP, financial measures in business projections and planning; the judgments required in connection with determining revenue recognition; impact of company policies and related compliance; utility of segment realignments; allowances for recovery of receivables and warranty obligations; provisions for, and resolution of pending investigations, claims, and disputes; the impacts of tax law changes and related guidance or regulations; and other risks that are described in Hewlett Packard Enterprise’s Annual Report on Form 10-K for the fiscal year ended October 31, 2023, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and in other filings made by Hewlett Packard Enterprise from time to time with the Securities and Exchange Commission. As in prior periods, the financial information set forth in this press release, including tax-related items, reflects estimates based on information available at this time. While Hewlett Packard Enterprise believes these estimates to be reasonable, these amounts could differ materially from reported amounts in the filings made by Hewlett Packard Enterprise from time to time with the Securities and Exchange Commission. Hewlett Packard Enterprise assumes no obligation and does not intend to update these forward-looking statements, except as required by applicable law. HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Condensed Consolidated Statements of Earnings (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 In millions, except per share amounts Net revenue $ 8,458 $ 7,710 $ 7,351 Costs and Expenses: Cost of sales (exclusive of amortization shown separately below) 5,852 5,271 4,792 Research and development 527 547 578 Selling, general and administrative 1,211 1,229 1,332 Amortization of intangible assets 69 60 72 Transformation costs 26 14 56 Disaster charges (recovery) 2 5 (4 ) Acquisition, disposition and other related charges 78 37 18 Total costs and expenses 7,765 7,163 6,844 Earnings from operations 693 547 507 Interest and other, net (1) 5 (12 ) (23 ) Gain on sale of equity interest 733 — — (Loss) earnings from equity interests (14 ) 73 65 Earnings before provision for taxes 1,417 608 549 (Provision) benefit for taxes (51 ) (96 ) 93 Net earnings attributable to HPE 1,366 512 642 Preferred stock dividends (25 ) — — Net earnings attributable to common stockholders $ 1,341 $ 512 $ 642 Net Earnings Per Share Attributable to Common Stockholders: Basic $ 1.02 $ 0.39 $ 0.50 Diluted 0.99 0.38 0.49 Cash dividends declared per share 0.13 0.13 0.12 Cash dividends accrued per preferred share $ 0.83 $ — $ — Weighted-average Shares Used to Compute Net Earnings Per Share: Basic 1,312 1,312 1,295 Diluted 1,375 1,332 1,315 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Condensed Consolidated Statements of Earnings Year Ended October 31, 2024 October 31, 2023 (Unaudited) (Audited) In millions, except per share amounts Net revenue $ 30,127 $ 29,135 Costs and Expenses: Cost of sales (exclusive of amortization shown separately below) 20,249 18,896 Research and development 2,246 2,349 Selling, general and administrative 4,871 5,160 Amortization of intangible assets 267 288 Transformation costs 93 283 Disaster charges 7 1 Acquisition, disposition and other related charges 204 69 Total costs and expenses 27,937 27,046 Earnings from operations 2,190 2,089 Interest and other, net (1) (117 ) (104 ) Gain on sale of equity interest 733 — Earnings from equity interests 147 245 Earnings before provision for taxes 2,953 2,230 Provision for taxes (374 ) (205 ) Net earnings attributable to HPE 2,579 2,025 Preferred stock dividends (25 ) — Net earnings attributable to common stockholders $ 2,554 $ 2,025 Net Earnings Per Share Per Share Attributable to Common Stockholders: Basic $ 1.95 $ 1.56 Diluted 1.93 1.54 Cash dividends declared per share 0.52 0.48 Cash dividends accrued per preferred share $ 0.83 $ — Weighted-average Shares Used to Compute Net Earnings Per Share: Basic 1,309 1,299 Diluted 1,337 1,316 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Reconciliation of GAAP to Non-GAAP measures (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 Dollars in millions GAAP net revenue $ 8,458 $ 7,710 $ 7,351 GAAP cost of sales 5,852 5,271 4,792 GAAP gross profit 2,606 2,439 2,559 Non-GAAP Adjustments Stock-based compensation expense 10 9 9 Disaster recovery (4 ) (7 ) (10 ) Divestiture related exit costs — 9 — Non-GAAP gross profit $ 2,612 $ 2,450 $ 2,558 GAAP gross profit margin 30.8 % 31.6 % 34.8 % Non-GAAP adjustments 0.1 % 0.2 % — % Non-GAAP gross profit margin 30.9 % 31.8 % 34.8 % Year Ended October 31, 2024 October 31, 2023 Dollars in millions GAAP net revenue $ 30,127 $ 29,135 GAAP cost of sales 20,249 18,896 GAAP gross profit 9,878 10,239 Non-GAAP Adjustments Stock-based compensation expense 49 47 Disaster recovery (43 ) (13 ) Divestiture related exit costs 9 — Non-GAAP gross profit $ 9,893 $ 10,273 GAAP gross profit margin 32.8 % 35.1 % Non-GAAP adjustments — % 0.2 % Non-GAAP gross profit margin 32.8 % 35.3 % HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Reconciliation of GAAP to Non-GAAP measures (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 Dollars in millions GAAP earnings from operations $ 693 $ 547 $ 507 Non-GAAP Adjustments Amortization of intangible assets 69 60 72 Transformation costs 26 14 56 Disaster recovery (17 ) (2 ) (14 ) Stock-based compensation expense 89 80 71 Divestiture related exit costs — 35 — Acquisition, disposition and other related charges 78 37 18 Non-GAAP earnings from operations $ 938 $ 771 $ 710 GAAP operating profit margin 8.2 % 7.1 % 6.9 % Non-GAAP adjustments 2.9 % 2.9 % 2.8 % Non-GAAP operating profit margin 11.1 % 10.0 % 9.7 % Year Ended October 31, 2024 October 31, 2023 Dollars in millions GAAP earnings from operations $ 2,190 $ 2,089 Non-GAAP Adjustments Amortization of intangible assets 267 288 Transformation costs 93 283 Disaster recovery (51 ) (12 ) Stock-based compensation expense 430 428 Divestiture related exit costs 35 — Acquisition, disposition and other related charges 204 69 Non-GAAP earnings from operations $ 3,168 $ 3,145 GAAP operating profit margin 7.3 % 7.2 % Non-GAAP adjustments 3.2 % 3.6 % Non-GAAP operating profit margin 10.5 % 10.8 % HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Reconciliation of GAAP to Non-GAAP measures (Unaudited) For the three months ended October 31, 2024 Diluted net earnings per share July 31, 2024 Diluted net earnings per share October 31, 2023 Diluted net earnings per share Dollars in millions, except per share amounts GAAP net earnings attributable to HPE $ 1,366 $ 0.99 $ 512 $ 0.38 $ 642 $ 0.49 Non-GAAP Adjustments: Amortization of intangible assets 69 0.05 60 0.05 72 0.05 Transformation costs 26 0.02 14 0.01 56 0.05 Disaster recovery (17 ) (0.02 ) (2 ) — (14 ) (0.01 ) Stock-based compensation expense 89 0.06 80 0.06 71 0.05 Divestiture related exit costs — — 35 — — — Acquisition, disposition and other related charges 78 0.06 37 0.03 18 0.01 Gain on sale of equity interest (733 ) (0.53 ) — — — — Adjustments for equity interests 25 0.02 (44 ) (0.04 ) 2 — (Gain) loss on equity investments, net (34 ) (0.02 ) (14 ) (0.01 ) 40 0.03 Adjustments for taxes (89 ) (0.06 ) (21 ) (0.01 ) (203 ) (0.15 ) Other adjustments (2) 15 0.01 4 — (4 ) — Non-GAAP net earnings attributable to HPE (3) 795 0.58 661 0.50 680 0.52 Preferred stock dividends (25 ) — — Non-GAAP net earnings attributable to common stockholders $ 770 $ 661 $ 680 Year Ended October 31, 2024 Diluted net earnings per share October 31, 2023 Diluted net earnings per share Dollars in millions, except per share amounts GAAP net earnings attributable to HPE $ 2,579 $ 1.93 $ 2,025 $ 1.54 Non-GAAP Adjustments: Amortization of intangible assets 267 0.20 288 0.22 Transformation costs 93 0.07 283 0.22 Disaster recovery (51 ) (0.04 ) (12 ) (0.01 ) Stock-based compensation expense 430 0.32 428 0.33 Divestiture related exit costs 35 0.03 — — Acquisition, disposition and other related charges 204 0.16 69 0.05 Gain on sale of equity interest (733 ) (0.55 ) — — Adjustments for equity interests (107 ) (0.08 ) 18 0.01 Loss on equity investments, net 13 0.01 40 0.03 Adjustments for taxes (95 ) (0.07 ) (255 ) (0.20 ) Other adjustments (2) 20 0.01 (52 ) (0.04 ) Non-GAAP net earnings attributable to HPE (3) 2,655 1.99 2,832 2.15 Preferred stock dividends (25 ) — Non-GAAP net earnings attributable to common stockholders $ 2,630 $ 2,832 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Reconciliation of GAAP to Non-GAAP measures (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 In millions Net cash provided by operating activities $ 2,030 $ 1,154 $ 2,843 Investment in property, plant and equipment and software assets (608 ) (543 ) (675 ) Proceeds from sale of property, plant and equipment 90 62 255 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (12 ) (4 ) (102 ) Free cash flow $ 1,500 $ 669 $ 2,321 Year Ended October 31, 2024 October 31, 2023 In millions Net cash provided by operating activities $ 4,341 $ 4,428 Investment in property, plant and equipment and software assets (2,367 ) (2,828 ) Proceeds from sale of property, plant and equipment 370 602 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (47 ) 36 Free cash flow $ 2,297 $ 2,238 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Condensed Consolidated Balance Sheets As of October 31, 2024 October 31, 2023 (Unaudited) (Audited) In millions, except par value ASSETS Current Assets: Cash and cash equivalents $ 14,846 $ 4,270 Accounts receivable, net of allowances 3,550 3,481 Financing receivables, net of allowances 3,870 3,543 Inventory 7,810 4,607 Assets held for sale 1 — Other current assets 3,380 3,047 Total current assets 33,457 18,948 Property, plant and equipment, net 5,664 5,989 Long-term financing receivables and other assets 12,616 11,377 Investments in equity interests 929 2,197 Goodwill and intangible assets 18,596 18,642 Total assets $ 71,262 $ 57,153 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities: Notes payable and short-term borrowings $ 4,742 $ 4,868 Accounts payable 11,064 7,136 Employee compensation and benefits 1,356 1,724 Taxes on earnings 284 155 Deferred revenue 3,904 3,658 Accrued restructuring 61 180 Liabilities held for sale 32 — Other accrued liabilities 4,530 4,161 Total current liabilities 25,973 21,882 Long-term debt 13,504 7,487 Other non-current liabilities 6,905 6,546 Commitments and Contingencies Stockholders’ Equity HPE stockholders' Equity: 7.625% Series C mandatory convertible preferred stock, $0.01 par value (30 shares issued and outstanding as of October 31, 2024) — — Common stock, $0.01 par value (9,600 shares authorized; 1,297 and 1,283 shares issued and outstanding as of October 31, 2024 and October 31, 2023, respectively) 13 13 Additional paid-in capital 29,848 28,199 Accumulated deficit (2,068 ) (3,946 ) Accumulated other comprehensive loss (2,977 ) (3,084 ) Total HPE stockholders’ equity 24,816 21,182 Non-controlling interests 64 56 Total stockholders’ equity 24,880 21,238 Total liabilities and stockholders’ equity $ 71,262 $ 57,153 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows Year Ended October 31, 2024 October 31, 2023 (Unaudited) (Audited) In millions Cash Flows from Operating Activities: Net earnings attributable to HPE $ 2,579 $ 2,025 Adjustments to Reconcile Net Earnings Attributable to HPE to Net Cash Provided by Operating Activities: Depreciation and amortization 2,564 2,616 Stock-based compensation expense 430 428 Provision for inventory and credit losses 175 230 Restructuring charges 33 242 Deferred taxes on earnings (64 ) (67 ) Earnings from equity interests (147 ) (245 ) Gain on sale of equity interest (733 ) — Dividends received from equity investees 43 200 Other, net 149 31 Changes in Operating Assets and Liabilities, Net of Acquisitions: Accounts receivable (83 ) 577 Financing receivables (909 ) (607 ) Inventory (3,358 ) 400 Accounts payable 3,927 (1,655 ) Taxes on earnings 190 (34 ) Restructuring (164 ) (275 ) Other assets and liabilities (291 ) 562 Net cash provided by operating activities 4,341 4,428 Cash Flows from Investing Activities: Investment in property, plant and equipment and software assets (2,367 ) (2,828 ) Proceeds from sale of property, plant and equipment 370 602 Purchases of investments (16 ) (15 ) Proceeds from maturities and sales of investments 2,149 9 Financial collateral posted (1,020 ) (1,443 ) Financial collateral received 978 1,152 Payments made in connection with business acquisitions, net of cash acquired (147 ) (761 ) Net cash used in investing activities (53 ) (3,284 ) Cash Flows from Financing Activities: Short-term borrowings with original maturities less than 90 days, net (31 ) (47 ) Proceeds from debt, net of issuance costs 11,245 4,725 Payment of debt (5,475 ) (4,887 ) Cash settlement for derivative hedging debt — (7 ) Net payments related to stock-based award activities (84 ) (106 ) Proceeds from issuance of 7.625% Series C mandatory convertible preferred stock, net of issuance costs 1,462 — Repurchase of common stock (150 ) (421 ) Cash dividends paid to non-controlling interests, net of contributions (8 ) — Cash dividends paid to shareholders (676 ) (619 ) Net cash provided by (used in) financing activities 6,283 (1,362 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash (47 ) 36 Change in cash, cash equivalents and restricted cash 10,524 (182 ) Cash, cash equivalents and restricted cash at beginning of period 4,581 4,763 Cash, cash equivalents and restricted cash at end of period $ 15,105 $ 4,581 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Segment Information (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 In millions Net Revenue: Server (4) $ 4,706 $ 4,280 $ 3,574 Hybrid Cloud (4) 1,582 1,300 1,341 Intelligent Edge (4) 1,124 1,121 1,410 Financial Services 893 879 876 Corporate Investments and other (4) 262 262 263 Total segment net revenue 8,567 7,842 7,464 Elimination of intersegment net revenue (109 ) (132 ) (113 ) Total consolidated net revenue $ 8,458 $ 7,710 $ 7,351 Earnings Before Taxes (4): Server $ 545 $ 464 $ 360 Hybrid Cloud 122 66 51 Intelligent Edge 274 251 382 Financial Services 82 79 70 Corporate Investments and other (2 ) (4 ) (16 ) Total segment earnings from operations 1,021 856 847 Unallocated corporate costs and eliminations (83 ) (85 ) (137 ) Stock-based compensation expense (89 ) (80 ) (71 ) Amortization of intangible assets (69 ) (60 ) (72 ) Transformation costs (26 ) (14 ) (56 ) Disaster recovery 17 2 14 Divestiture related exit costs — (35 ) — Acquisition, disposition and other related charges (78 ) (37 ) (18 ) Interest and other, net (1) 5 (12 ) (23 ) Gain on sale of equity interest 733 — — (Loss) earnings from equity interests (14 ) 73 65 Total pretax earnings $ 1,417 $ 608 $ 549 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Segment Information (Unaudited) Year Ended October 31, 2024 October 31, 2023 In millions Net Revenue: Server (4) $ 16,205 $ 14,361 Hybrid Cloud (4) 5,386 5,493 Intelligent Edge (4) 4,532 5,379 Financial Services 3,512 3,480 Corporate Investments and other (4) 1,014 985 Total segment net revenue 30,649 29,698 Elimination of intersegment net revenue (522 ) (563 ) Total consolidated net revenue $ 30,127 $ 29,135 Earnings Before Taxes (4): Server $ 1,818 $ 1,830 Hybrid Cloud 245 232 Intelligent Edge 1,115 1,343 Financial Services 316 281 Corporate Investments and other (25 ) (77 ) Total segment earnings from operations 3,469 3,609 Unallocated corporate costs and eliminations (301 ) (464 ) Stock-based compensation expense (430 ) (428 ) Amortization of intangible assets (267 ) (288 ) Transformation costs (93 ) (283 ) Disaster recovery 51 12 Divestiture related exit costs (35 ) — Acquisition, disposition and other related charges (204 ) (69 ) Interest and other, net (1) (117 ) (104 ) Gain on sale of equity interest 733 — Earnings from equity interests 147 245 Total consolidated earnings before taxes $ 2,953 $ 2,230 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Segment Information (Unaudited) For the three months ended Change (%) October 31, 2024 July 31, 2024 October 31, 2023 Q/Q Y/Y Dollars in millions Net Revenue: Server (4) $ 4,706 $ 4,280 $ 3,574 10% 32% Hybrid Cloud (4) 1,582 1,300 1,341 22 18 Intelligent Edge (4) 1,124 1,121 1,410 — (20) Financial Services 893 879 876 2 2 Corporate Investments and other (4) 262 262 263 — — Total segment net revenue 8,567 7,842 7,464 9 15 Elimination of intersegment net revenue (109 ) (132 ) (113 ) (17) (4) Total consolidated net revenue $ 8,458 $ 7,710 $ 7,351 10% 15% Year Ended October 31, 2024 October 31, 2023 Y/Y Dollars in millions Net Revenue: Server (4) $ 16,205 $ 14,361 13% Hybrid Cloud (4) 5,386 5,493 (2) Intelligent Edge (4) 4,532 5,379 (16) Financial Services 3,512 3,480 1 Corporate Investments and other (4) 1,014 985 3 Total segment net revenue 30,649 29,698 3 Elimination of intersegment net revenue (522 ) (563 ) (7) Total consolidated net revenue $ 30,127 $ 29,135 3% HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Segment Operating Margin Summary Data (Unaudited) For the three months ended Change in operating profit margin (pts) October 31, 2024 July 31, 2024 October 31, 2023 Q/Q Y/Y Segment Operating Profit Margin (4): Server 11.6 % 10.8 % 10.1 % 0.8 1.5 Hybrid Cloud 7.7 % 5.1 % 3.8 % 2.6 3.9 Intelligent Edge 24.4 % 22.4 % 27.1 % 2.0 (2.7) Financial Services 9.2 % 9.0 % 8.0 % 0.2 1.2 Corporate Investments and other (0.8 %) (1.5 %) (6.1 %) 0.7 5.3 Total segment operating profit margin 11.9 % 10.9 % 11.3 % 1.0 0.6 Year Ended Change in operating profit margin (pts) October 31, 2024 October 31, 2023 Y/Y Segment Operating Profit Margin (4): Server 11.2 % 12.7 % (1.5) Hybrid Cloud 4.5 % 4.2 % 0.3 Intelligent Edge 24.6 % 25.0 % (0.4) Financial Services 9.0 % 8.1 % 0.9 Corporate Investments and other (2.5 %) (7.8 %) 5.3 Total segment operating profit margin 11.3 % 12.2 % (0.9) HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Calculation of Diluted Net Earnings Per Share (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 In millions, except per share amounts Numerator: GAAP net earnings attributable to common stockholders - Basic $ 1,341 $ 512 $ 642 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — — GAAP net earnings attributable to HPE - Diluted $ 1,366 $ 512 $ 642 Non-GAAP net earnings attributable to common stockholders - Basic $ 770 $ 661 $ 680 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — — Non-GAAP net earnings attributable to HPE - Diluted $ 795 $ 661 $ 680 Denominator: Weighted-average shares used to compute basic net earnings per share 1,312 1,312 1,295 Dilutive effect of employee stock plans 22 20 20 Dilutive effect of 7.625% Series C mandatory convertible preferred stock 41 — — Weighted-average shares used to compute diluted net earnings per share 1,375 1,332 1,315 GAAP Net Earnings Per Share Basic $ 1.02 $ 0.39 $ 0.50 Diluted (3) $ 0.99 $ 0.38 $ 0.49 Non-GAAP Net Earnings Per Share Basic $ 0.59 $ 0.50 $ 0.53 Diluted (3) $ 0.58 $ 0.50 $ 0.52 Year Ended October 31, 2024 October 31, 2023 In millions, except per share amounts Numerator: GAAP net earnings attributable to common stockholders - Basic $ 2,554 $ 2,025 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — GAAP net earnings attributable to HPE - Diluted $ 2,579 $ 2,025 Non-GAAP net earnings attributable to common stockholders - Basic $ 2,630 $ 2,832 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — Non-GAAP net earnings attributable to HPE - Diluted $ 2,655 $ 2,832 Denominator: Weighted-average shares used to compute basic net earnings per share 1,309 1,299 Dilutive effect of employee stock plans 18 17 Dilutive effect of 7.625% Series C mandatory convertible preferred stock 10 — Weighted-average shares used to compute diluted net earnings per share 1,337 1,316 GAAP Net Earnings Per Share Basic $ 1.95 $ 1.56 Diluted (3) $ 1.93 $ 1.54 Non-GAAP Net Earnings Per Share Basic $ 2.01 $ 2.18 Diluted (3) $ 1.99 $ 2.15 (1) Interest and other, net includes tax indemnification and other adjustments, cost, and interest and other, net. (2) Other adjustments includes non-service net periodic benefit cost and tax indemnification and other adjustments. (3) For purposes of calculating diluted net EPS, the preferred stock dividends are added back to the net earnings attributable to common stockholders and the diluted weighted average share calculation assumes the preferred stock was converted at issuance or as of the beginning of the reporting period. (4) As previously disclosed, effective as of the beginning of fiscal 2024, in order to align the segment financial reporting more closely with its business structure, the Company established two new reportable segments, Hybrid Cloud and Server. Hybrid Cloud includes the historical Storage segment, HPE GreenLake Flex Solutions (which provides flexible as-a-service IT infrastructure through the HPE GreenLake cloud and was previously reported under the Compute and the High Performance Computing & Artificial Intelligence ("HPC & AI") segments), Private Cloud, and Software (previously reported under the Corporate Investments and Other segment). The Server segment combines the previously separately reported Compute and HPC & AI segments, with adjustments for certain product lines that are now reported in Hybrid Cloud. Additionally, certain products and services previously reported in the financial results for the HPC & AI segment were moved to be reported in the Hybrid Cloud segment, and the Athonet business and certain components of the Communications and Media Solutions business, both previously reported in the financial results for Corporate Investments and Other, moved to be reported in the Intelligent Edge segment. As a result, the Company’s organizational structure for fiscal 2024 consisted of the following segments: (i) Server; (ii) Hybrid Cloud; (iii) Intelligent Edge; (iv) Financial Services; and (v) Corporate Investments and Other. The Company began reporting under this re-aligned segment structure beginning with the results of the first quarter of fiscal 2024. The Company has reflected these changes to its segment information retrospectively to the earliest period presented, which primarily resulted in the realignment of net revenue and operating profit for each of the segments as described above. These changes had no impact on Hewlett Packard Enterprise’s previously reported consolidated net revenue, net earnings, net earnings per share or total assets. Use of non-GAAP financial measures To supplement Hewlett Packard Enterprise’s condensed consolidated financial statement information presented on a GAAP basis, Hewlett Packard Enterprise provides non-GAAP financial measures including revenue on a constant currency basis (including at the business segment level), non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating profit (non-GAAP earnings from operations), non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue), non-GAAP income tax rate, non-GAAP net earnings, non-GAAP diluted net earnings per share, and FCF. Hewlett Packard Enterprise also provides forecasts of revenue growth on a constant currency basis, non-GAAP diluted net earnings per share, non-GAAP operating profit growth, and FCF. These non-GAAP financial measures are not computed in accordance with, or as an alternative to, GAAP in the United States. The GAAP measure most directly comparable to net revenue on a constant currency basis is net revenue. The GAAP measure most directly comparable to non-GAAP gross profit is gross profit. The GAAP measure most directly comparable to non-GAAP gross profit margin is gross profit margin. The GAAP measure most directly comparable to non-GAAP operating profit (non-GAAP earnings from operations) is earnings from operations. The GAAP measure most directly comparable to non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue) is operating profit margin (earnings from operations as a percentage of net revenue). The GAAP measure most directly comparable to non-GAAP income tax rate is income tax rate. The GAAP measure most directly comparable to non-GAAP net earnings is net earnings. The GAAP measure most directly comparable to non-GAAP diluted net earnings per share is diluted net earnings per share. The GAAP measure most directly comparable to FCF is cash flow from operations. Reconciliations of each of these non-GAAP financial measures to their most directly comparable GAAP measures for this quarter and prior periods are included in the tables above or elsewhere in the materials accompanying this news release. Usefulness of non-GAAP financial measures to investors Hewlett Packard Enterprise believes that providing the non-GAAP financial measures stated above, in addition to the related GAAP measures provides investors with greater transparency to the information used by Hewlett Packard Enterprise’s management in its financial and operational decision making and allows investors to see Hewlett Packard Enterprise’s results “through the eyes” of management. Hewlett Packard Enterprise further believes that providing this information provides Hewlett Packard Enterprise’s investors with a supplemental view to understand the Company’s historical and prospective operating performance and to evaluate the efficacy of the methodology and information used by Hewlett Packard Enterprise’s management to evaluate and measure such performance. Disclosure of these non-GAAP financial measures also facilitates the comparisons of Hewlett Packard Enterprise’s operating performance with the performance of other companies in the same industry that supplement their GAAP results with non-GAAP financial measures that may be calculated in a similar manner. Economic substance of and material limitations associated with non-GAAP financial measures used by Hewlett Packard Enterprise Net revenue on a constant currency basis assumes no change to the foreign exchange rate utilized in the comparable prior-year period. This measure assists investors with evaluating the Company’s past and future performance, without the impact of foreign exchange rates, as more than half of our revenue is generated outside of the U.S. Non-GAAP gross profit and non-GAAP gross profit margin are defined to exclude charges related to the stock-based compensation expense, disaster recovery, and divestiture related exit costs. Non-GAAP operating profit (non-GAAP earnings from operations) and non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue) consist of earnings from operations or earnings from operations as a percentage of net revenue excluding the items mentioned above and charges relating to the amortization of intangible assets, transformation costs, and acquisition, disposition and other related charges. Non-GAAP net earnings and non-GAAP diluted net earnings per share consist of net earnings or diluted net earnings per share excluding the charges previously stated, as well as adjustments for equity interests, gain or loss on equity investments, other adjustments, and adjustments for taxes. The Adjustments for taxes line item includes certain income tax valuation allowances and separation taxes, the impact of tax reform, structural rate adjustment, excess tax benefit from stock-based compensation, and adjustments for additional taxes or tax benefits associated with each non-GAAP item. Hewlett Packard Enterprise believes that excluding the items mentioned above from the non-GAAP financial measures provides a supplemental view to management and investors of its consolidated financial performance and presents the financial results of the business without costs that Hewlett Packard Enterprise’s management does not believe to be reflective of ongoing operating results. Exclusion of these items can have a material impact on the equivalent GAAP measure and cash flows thus limiting their use as analytical tools. These limitations are discussed below or elsewhere in the materials accompanying this news release. More specifically, Hewlett Packard Enterprise’s management excludes each of those items mentioned above for the following reasons: Compensation for material limitations with use of non-GAAP financial measures These non-GAAP financial measures have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Hewlett Packard Enterprise’s results as reported under GAAP. Some of the limitations in relying on these non-GAAP financial measures are that they can have a material impact on the equivalent GAAP earnings measures and cash flows, they may be calculated differently by other companies (limiting the usefulness of those measures for comparative purposes) and may not reflect the full economic effect of the loss in value of certain assets. Hewlett Packard Enterprise compensates for these limitations on the use of non-GAAP financial measures by relying primarily on its GAAP results and using non-GAAP financial measures only as a supplement. Hewlett Packard Enterprise also provides a reconciliation of each non-GAAP financial measure to its most directly comparable GAAP financial measure for this quarter and prior periods within this news release and in other written materials that include these non-GAAP financial measures, and Hewlett Packard Enterprise encourages investors to review those reconciliations carefully. View source version on businesswire.com : https://www.businesswire.com/news/home/20241205728686/en/ CONTACT: Media Contact: Laura Keller Laura.Keller@hpe.comInvestor Contact: Paul Glaser investor.relations@hpe.com KEYWORD: UNITED STATES NORTH AMERICA TEXAS INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY SOFTWARE ARTIFICIAL INTELLIGENCE INTERNET HARDWARE SOURCE: Hewlett Packard Enterprise Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:05 PM http://www.businesswire.com/news/home/20241205728686/en

Washington (CNN) — With much of President Joe Biden’s student loan agenda tied up in court , the incoming Trump administration could have a significant impact on millions of borrowers. President-elect Donald Trump hasn’t made specific promises on student loans or other forms of college financial aid, but delivering student loan forgiveness isn’t a policy priority like it has been for Biden . Republicans have repeatedly challenged Biden’s efforts, and when his sweeping student loan forgiveness program was struck down by the Supreme Court last year, Trump said the proposal “would have been very unfair to the millions and millions of people who have paid their debt through hard work and diligence.” During his first term, Trump proposed ending a program that delivers student loan forgiveness to public sector workers after 10 years, and his administration tried to limit debt relief for borrowers who were misled by their colleges. Both efforts were unsuccessful, but the latter left many people waiting for years to find out if their debt-relief claim would be granted. It’s possible for the Trump administration to unilaterally make some changes to the federal student loan system through a rulemaking process, but other actions – like abolishing the Department of Education , as Trump has promised to do – would require Congress to act. Here’s what student loan borrowers need to know about what’s at stake and what Trump could do: One of the first things Trump’s Department of Education may have to address is what to do with Biden’s SAVE (Saving on a Valuable Education) repayment plan, which is currently on hold due to litigation. There are 8 million people enrolled in SAVE, and if it is struck down in court, they will have to move into a different repayment plan. A lawsuit brought by several Republican-led states argues that the president doesn’t have the authority to implement the plan. A ruling by the 8th US Circuit Court of Appeals is expected imminently. The Trump administration could decide to rescind the repayment plan, which was created by a regulatory process. It could also decide to stop defending the plan in court. SAVE, which was launched last year, is meant to offer the most generous terms for low-income borrowers. Under the plan, some enrolled borrowers would see monthly payments as low as 5% of discretionary income. It also promises to cancel remaining student loan debt after making as little as 10 years of payments. Borrowers enrolled in SAVE are not currently required to make payments since the Department of Education put them in an interest-free forbearance due to the litigation. The department is expected to reopen two older income-driven repayment plans in December, giving borrowers the option to switch into a plan that might be more affordable than the standard, 10-year plan. Income-driven repayment plans calculate a borrower’s monthly payment based on their income and family size, rather than the amount of debt they owe. In addition to lowering monthly payments, the plans promise to wipe away remaining student debt after a borrower makes a certain number of payments – usually 20 or 25 years’ worth. Project 2025, the conservative blueprint published by the Heritage Foundation, calls for creating one new income-driven repayment plan and eliminating all the others. The policy paper also favors eliminating any loan forgiveness provision in the repayment plan – but this would likely require an act of Congress. Trump has distanced himself from the 900-page playbook, but a CNN review found that at least 140 people who worked in the first Trump administration were involved. The Biden administration has canceled a record $175 billion of student loan debt for nearly 5 million people – largely through existing relief programs for public sector workers, disabled borrowers and people who were misled by their college. Under Biden, the Department of Education temporarily expanded eligibility for the Public Service Loan Forgiveness program, recounted past payments to correct administrative errors, cut red tape for disabled borrowers and chipped away at a backlog of relief applications left over from the previous Trump administration. Trump has not suggested that clawing back student loan forgiveness that was already granted is on his to-do list for his second term. It could be difficult both politically and logistically. Efforts to reverse student debt relief would be expected to face legal challenges. “If the new Trump administration attempts to reinstate discharged loans by reversing legal positions, they will be held accountable and spend much of the next four years tied up in court,” said Aaron Ament, president of the nonprofit National Student Legal Defense Network. There are some borrowers who may have been notified by the Department of Education that they have been granted debt relief, but they have yet to see the change made to their account balance. Even in that situation, there is precedent that the forgiveness would still take effect under a new administration. “We don’t think that can be clawed back under the law. We don’t think it should be clawed back, of course, but we’re ready to defend those discharges,” said Eileen Connor, president and director of the Project on Predatory Student Lending, which represents borrowers defrauded by their colleges. Biden has made other efforts to create new programs to deliver student loan forgiveness, but none of them are currently in effect. His signature student loan forgiveness program, which would have delivered up to $20,000 of relief to millions of borrowers, was struck down by the Supreme Court last year. Since then, his Education Department has been working on implementing more targeted debt-relief programs through the regulatory process. But those proposals have not been finalized, and Trump’s new administration could decide not to move forward with implementing them. One proposal, which would cancel interest for some student loan borrowers, is already facing a Republican-led lawsuit. During Trump’s first term, he made some unsuccessful efforts to make it harder for some people to qualify for student loan forgiveness through two existing programs. His Education Secretary Betsy DeVos and many other Republicans argued against some debt relief because it transfers the cost to taxpayers, many of whom didn’t go to college. Public Service Loan Forgiveness program: PSLF was created during President George W. Bush’s administration in 2007. It cancels remaining student loan debt after a qualifying public sector worker makes 10 years’ worth of payments. During his first term, Trump called for phasing out PSLF . But since the program was created by Congress, it would have to be dissolved by Congress – and that move did not receive support in the past. Trump’s proposal would have eliminated the program for new borrowers only. Borrower defense to repayment : Trump’s first administration made attempts to limit the borrower defense to repayment program, which grants debt relief to people who were misled by their college. DeVos tried to change the rule so that eligible borrowers would receive partial relief , instead of canceling the full amount of debt. She made it clear that she thought the rule was “ bad policy ” that put taxpayers on the hook for the cost of the debt relief without the right safeguards in place and made changes to limit its reach. The proposal was unsuccessful, but the department stopped processing borrower defense claims while fighting challenges in court. As a result, a backlog of more than 200,000 claims piled up. DeVos and the department were later found in contempt of court for continuing to collect on some of those loans while the rule was pending. The Biden administration has worked to chip away at that backlog. Trump has called for closing the Department of Education, which currently administers the $1.6 trillion federal student loan portfolio. First of all, Trump will need Congress to do away with the department – and it’s unclear if he will have the support from enough lawmakers to do so. Trump’s first administration proposed merging the Education and Labor departments, but the idea didn’t go anywhere despite Republicans having control of both the House of Representatives and Senate at the time. It’s possible that some programs and funding could be retained and shifted to other agencies, which is where they were housed before the department was created in 1979. If that happens, Project 2025 recommends moving the federal student loan portfolio to the Department of Treasury. The-CNN-Wire TM & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.Has a waltz written by composer Frederic Chopin been discovered in an NYC museum?

Nikada/iStock Unreleased via Getty Images December 29, 2024 Erik Conley I’ve been publishing the Zen Ten list each December since 2008. I pick my favorites and stick with them all year - no trading. Before I reveal my new Analyst’s Disclosure: I/we have a beneficial long position in the shares of AAPL, NVDA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Kobe Sanders tied a season high with 27 points as Nevada claimed fifth place in the Charleston Classic with a 90-78 victory over Oklahoma State Sunday afternoon in South Carolina. Sanders helped the Wolfpack (6-1) earn a second win following one-possession games against Vanderbilt and VCU. After hitting the decisive 3-pointer with five seconds left in Friday's 64-61 win over VCU, Sanders made 7 of 10 shots, hit three 3s and sank 10 of 13 free throws Sunday. Nick Davidson added 223 points as Nevada led by as many as 19 and shot 58.9 percent. Brandon Love contributed 11 on 5-of-5 shooting as the Wolfpack scored 46 points in the paint and scored at least 85 for the fourth time this season. Marchelus Avery led the Cowboys (4-2) with 15 points and Arturo Dean added 13. Robert Jennings and Abou Ousmane added 11 apiece but leading scorer Bryce Thompson was held to seven points on 1-of-9 shooting as Oklahoma State shot 42 percent and 73.2 percent (30-of-41) at the line. After Avery's 3 forged a 12-12 tie with 13:41 remaining, Nevada gradually gained separation. The Wolfpack took a 24-15 lead on Chuck Bailey's jumper in the paint with 8:28 left but the Cowboys inched back, getting within 33-31 on a dunk by Avery with 4:11 left. Another Bailey jumper staked Nevada to a 40-33 lead by halftime. Nevada began pulling away early in the second half as it scored eight in a row for a 52-40 lead on a basket by Love with 16:44 left. A 3 by Sanders opened a 62-43 lead with 14:06 remaining before Oklahoma State charged back. After Nevada made eight straight shots, the Cowboys countered with 11 straight points and trailed 62-54 with 11:19 left on a 3-pointer by Avery. Thompson made his first basket by sinking a jumper with 10:37 left to get Oklahoma State within 64-56 left, and Keller's triple cut the margin to 70-64 nearly three minutes later. The Cowboys were within 78-72 on a basket by Avery with 3:56 remaining, but he fouled out about a minute later and the Wolfpack outscored Oklahoma State 12-6 the rest of the way as Sanders sank five free throws. --Field Level Media

C3 AI Announces Fiscal Second Quarter 2025 Financial Results

Ingles Markets: Hurricane Helene Impact Is Phasing OutNEW YORK (AP) — The huge rally for U.S. stocks lost momentum on Thursday as Wall Street counted down to a big jobs report that’s coming on Friday. The crypto market had more action, and bitcoin briefly burst to a record above $103,000 before pulling back. The S&P 500 slipped 0.2% from the all-time high it had set the day before, its 56th of the year so far, to shave a bit off what’s set to be one of its best years of the millennium . The Dow Jones Industrial Average fell 248 points, or 0.6%, while the Nasdaq composite slipped 0.2% from its own record set the day before. Bitcoin powered above $100,000 for the first time the night before, after President-elect Donald Trump chose Paul Atkins, who's seen as a crypto advocate, 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 fell back as Thursday progressed toward $99,000, according to CoinDesk. Sharp 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 4.8%. Crypto exchange Coinbase Global fell 3.1% 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 16.8% 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 2% 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 12.4%. 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, 14.3%, 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 edged down to 4.17% from 4.18% late Wednesday. The S&P 500 fell 11.38 points to 6,075.11. The Dow sank 248.33 to 44,765.71, and the Nasdaq composite lost 34.86 to 19,700.26. 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 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 contributed.

Amazon CTO Werner Vogels on fighting misinformation, tech addiction, and small nuclear reactorsQatar tribune dpa Kiev Ukrainian President Volodymyr Zelensky has taken stock of Russia’s attacks against his country over the past seven days, counting hundreds of drones, bombs and missiles largely targeting energy infrastructure. “In total, Russia has used more than 370 attack drones, around 280 guided glide bombs and 80 missiles of various types against Ukraine this week,” Zelensky wrote on Facebook. “Even on Christmas night, the terrorists carried out a massive airstrike.” The Russian military’s attacks were primarily directed against energy infrastructure in Ukraine, Zelensky noted, adding that residential buildings were also attacked and damaged, apparently at random, with several people being killed. According to the UK’s Ministry of Defence, Russia is using a modified tactic in its missile and drone attacks on Ukraine. Russia has now most likely decided to allow more time to pass between attacks in order to build up stocks, the ministry wrote on X, and hopes that fewer but larger waves of attacks can inflict more damage than more frequent, smaller attacks. With these combined mass attacks, the Russian military aims to overwhelm the Ukrainian air defence. Copy 30/12/2024 10

Insufficient gas and power supply, increased fuel prices and inflation have escalated production costs in Bangladesh, making doing business here harder, said top business leaders at a discussion yesterday. Though the industrial sector pays the highest utility tariffs, it has been getting less than half of its demand for gas. The energy sector was one of the pillars of criminalisation of the previous government, said Commerce Adviser Sheikh Bashir Uddin at a discussion titled "Ways of Mitigating Energy Crisis in the Industrial Sectors" organised by the Bangladesh Chamber of Industries (BCI). "I had to stand in the rain in front of the residence of the former state minister for power, energy and mineral resources [Nasrul Hamid] to get a gas connection to my industry with my own expenses," said Bashir, the managing director of AkijBashir Group, which has concerns in ceramics, glass, steel and polymers. Besides, Bashir said he had to pay a bribe of Tk 20 crore to the road authorities for digging up the road to lay the 40km gas pipeline. "That will not happen now. It's an opportunity for you [the business leaders]. Come to us with business proposals and solutions and not just problems -- we will sort those out unitedly," he added. In the first nine months of the year, about 200 factories have shut their operations and another 300 factories are on the way to shutting shop within the next year, said BCI President Anwar-Ul-Alam Chowdhury. The industries were established in Bangladesh on the basis of the availability of local gas and fast-learning labour. "Except those, everything else is expensive here -- the land, infrastructure, development, bank financing cost and speed money. But now, we have learned that we don't have gas or the prices are very high as well. An uncertain situation has emerged." Chowdhury went on to blame the foreign currency devaluation, liquidity crisis in the banking sector, lower imports of liquified natural gas, restrictions on the opening of letters of credit and a lack of good governance in the National Board of Revenue for the situation. The industries' demand for gas is about 1,040 million cubic feet a day (mmcfd) while they are getting around 500 mmcfd, said Ijaz Hossain, former dean of engineering at Bangladesh University of Engineering and Technology (BUET), in his keynote paper. "It is very alarming that energy consumption has not increased in the last two years." Due to the expansion of the power grid, energy consumption in the domestic sector has increased, which implies the industrial sector has shrunk, he said. Because of high energy prices and supply disruption, the cost of production is getting higher, thus triggering inflation, causing industries to become defaulters and to go out of business, Hossain added. There are power cuts four to five times a day, said Md Shamsuzzaman, vice-president of the Bangladesh Knitwear Manufacturers & Exporters Association. "There are huge illegal connections in industrial areas, but the distribution companies failed to monitor those," he said. The government once encouraged building factories but now those are being shut down, said Sk Masadul Alam Masud of the Bangladesh Steel Manufacturers Association. Syed Nasim Manzur, president of the Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh, said they have not been able to run a gas generator in the Savar tannery estate. "The system loss in the gas sector is nothing but theft. There should be exemplary punishment for those who are involved in theft," he said. It was a common practice to get the public works department officials to have a relationship with the ministers or to bribe officials, said Fouzul Kabir Khan, adviser to the ministry of power, energy and mineral resources. "As a result, the money was invested in unnecessary projects. It's a waste of money," he said, adding that that will not happen during the tenure of the interim government. Khan said they have taken measures to reduce the energy cost, which includes onshore-offshore drilling programmes to increase the supply. The gas supply will remain the same until February next year and will increase from March, said Petrobangla Chairman Zanendra Nath Sarker. "It was imposed on me by the previous government's higher-ups to increase gas supply to the power sector instead of industries. But the industrial sector pays the highest price to us. That will not happen in the coming days." He demanded speedy approval of development project proposals for the gas sector from the planning division to increase the gas supply from local gas fields. Gas should be supplied proportionately to all the sectors, said Rezaul Karim, chairman of the Bangladesh Power Development Board.