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Ukraine is slowly losing the three-year conflict on the battlefield. Russia is slowly losing the economic conflict at a roughly equal pace. The Kremlin’s oil export revenues are too low to sustain a high-intensity war and nobody will lend Vladimir Putin a kopeck. Russia’s overheated, military-Keynesian war economy looks much like the dysfunctional German war economy of late 1917, which had run out of skilled manpower and was holed below the waterline after three years of Allied blockade – as the logistical failures of the Ludendorff offensive would later reveal. Vladimir Putin’s war has crippled Russia’s economy. Credit: AP Photos Putin’s strategic victory in Ukraine was far from inevitable a fortnight ago and it is less inevitable now after the Assad regime collapsed like a house of cards , shattering Putin’s credibility in the Middle East and the Sahel. He could do nothing to save his sole state ally in the Arab world. “The limits of Russian military power have been revealed,” said Tim Ash, a regional expert at Bluebay Asset Management and a Chatham House fellow. Turkey is now master of the region. Turkish forces had to step in to rescue stranded Russian generals. Even if Putin succeeds in holding on to his naval base at Tartus – a big if – this concession will be on Ottoman terms and sufferance. “Putin now goes into Ukraine peace talks from a position of weakness,” said Mr Ash. Loading When Trump won the US elections in 2016, corks of Golubitskoe Villa Romanov popped at the Kremlin. There were no illusions this time. Anton Barbashin from Riddle Russia says Donald Trump imposed 40 rounds of sanctions on Russia, belying his bonhomie with Putin before the cameras. He has since warned that Putin will not get all of the four annexed (but unconquered) oblasts of Donetsk, Luhansk, Kherson and Zaporizhia. The Kremlin had banked on a contested election outcome in the US, followed by months of disarray that would discredit US democracy across the world. The polite interregnum has been a cruel disappointment. Barbashin says Russia’s leaders expect Trump to issue ultimatums to both Kyiv and Moscow: if Volodymyr Zelensky balks at peace terms, the US will sever all military aid; if Putin drags his feet, the US will up the military ante and carpet-bomb the Russian economy. That economy held up well for two years but this third year has become harder. The central bank has raised interest rates to 21 per cent to choke off an inflation spiral. “The economy cannot exist like this for long. It’s a colossal challenge for business and banks,” said German Gref, Sberbank’s chief executive. Sergei Chemezov, head of the defence giant Rostec, said the monetary squeeze was becoming dangerous. “If we continue like this, most companies will essentially go bankrupt. At rates of more than 20 per cent, I don’t know of a single business that can make a profit, not even an arms trader,” he said. If the Saudis again decide to flood the world with cheap crude to recoup market share – as many predict – oil will fall below $US40 and Russia will spin out of economic control. Credit: AP The resurrection of the Soviet military industrial complex – to borrow a term from Pierre-Marie Meunier, the French intelligence analyst – is cannibalising the rest of the economy. Some 800,000 of the young and best-educated have left the country. The numbers slaughtered or maimed in the meat grinder are approaching half a million. Russia’s digital minister says the shortage of IT workers is around 600,000. The defence industry has 400,000 unfilled positions. The total labour shortage is near 5 million. Anatoly Kovalev, head of Zelenograd Nanotechnology Centre, said his industry was crippled by lack of equipment and could not replace foreign supplies. “There is a shortage of qualified specialists: engineers, technologists, developers, designers. There are practically no colleges and technical schools that train personnel for the industry,” he said. Loading Total export earnings from all fossil fuels were running at about $US1.2 billion ($1.9 billion) a day in mid-2022. They have fallen for the last 10 months consecutively and are now barely $US600 million. The Kremlin takes a slice of this for the budget but it is far too little to fund a war machine gobbling up a 10th of GDP in one way or another. Oil tax revenues slumped to $US5.8 billion in November, based on a Urals price averaging near $US65 a barrel. That price could fall a lot further. Russia is facing an incipient price war with Saudi Arabia in Asian markets. Putin is raiding the National Wealth Fund to cover the shortfall. Its liquid assets have fallen to a 16-year low of $US54 billion. Its gold reserves have dropped from 554 to 279 tonnes over the last 15 months. The fund is left with illiquid holdings that cannot be crystallised, such as an equity stake in Aeroflot. The long-awaited rally in oil prices keeps refusing to happen. JP Morgan said excess global supply next year would reach 1.3 million barrels a day due to rising output from Brazil, Guyana, and US shale. Rosneft’s Igor Sechin has told his old KGB friend Putin to brace for $US45-$US50 next year. Adjusted for inflation, that matches levels that bankrupted the Soviet Union in the 1980s. The purpose of the G7’s convoluted oil sanctions was – until a month ago – to eat into Putin’s revenue without curtailing global oil supply and worsening the cost of living shock in the West. This has been a partial success. Russia had to assemble a shadow fleet of tankers and ship oil from Baltic and Black Sea ports to buyers in India and China, who pressed a hard bargain. The International Energy Agency estimates that the discount on Urals crude has averaged $US15 over 2023 to 2024, depriving Putin of $US75 million a day in export revenues. ‘The economy cannot exist like this for long. It’s a colossal challenge for business and banks.’ German Gref, Sberbank’s chief executive Russia can get around technology sanctions but its systems are configured to Western semiconductors. These chips cannot easily be replaced by Chinese suppliers, even if they were willing to risk US secondary sanctions, which most are not. The chips are bought at a stiff premium on the global black market and are unreliable. Ukrainian troops have noticed that Russian Geran-2 drones keep spinning out of control. The Washington Post reports that laser-guided devices on Russia’s T-90M tanks have “mysteriously disappeared”, greatly reducing capability. The industry ministry has been trying to develop analogues to replace chips from Texas Instruments, Aeroflex and Cypress but admitted in October that all three tenders had failed. Alexey Novoselov from the circuits company Milandr said Russia could not obtain the insulator technologies needed to make chips of 90 nanometers or below. It is the dark ages. Loading The US tightened the noose three weeks ago, imposing sanctions on Gazprombank and over 50 Russian banks linked to global transactions. This has greatly complicated Russia’s ability to trade energy and buy technology on the black market. It briefly crashed the rouble, now hovering at around 100 to the dollar. Chinese banks have stopped accepting Russian UnionPay cards. The Chinese press says exporters have pulled back from Russian e-commerce sites such as Yandez or Wildberries because payment fees through third-parties no longer cover thin profit margins. Some have been unable to extract their money from Russia and are facing large losses. Few foresaw the sudden and total collapse of the Soviet regime, though all the signs of economic decay and imperial overreach were there to see by 1989. Putin’s regime is not yet at this point but it would only take one more change in the Middle East to bring matters to a head. If the Saudis again decide to flood the world with cheap crude to recoup market share – as many predict – oil will fall below $US40 and Russia will spin out of economic control. The Ukraine war may end in Riyadh. Telegraph, London The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning . Save Log in , register or subscribe to save articles for later. 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By RONALD BLUM NEW YORK (AP) — Major League Baseball will test robot umpires as part of a challenge system during spring training at 13 ballparks hosting 19 teams, which could lead to regular-season use in 2026. MLB has been experimenting with the automated ball-strike system in the minor leagues since 2019 but is still working on the shape of the strike zone. An agreement for big league use would have to be reached with the Major League Baseball Umpires Association, whose collective bargaining agreement expires Dec. 1. “I would be interested in having it in ‘26,” baseball Commissioner Rob Manfred said Wednesday after an owners’ meeting. “We do have a collective bargaining obligation there. That’s obviously a term and condition of employment. We’re going to have to work through that issue, as well.” Manfred said the spring training experiment will have to be evaluated before MLB determines how to move forward. “There’s two sides to that test,” he said. “It’s what the clubs think about it and also what do the players think about it? And we’re going to have to sort through both of those.” Triple-A ballparks used ABS this year for the second straight season, but there is little desire to call the strike zone as the cube defined in the rule book and MLB has experimented with modifications during minor league testing. Related Articles MLB | Stephen Vogt wins AL Manager of the Year in first season MLB | SF Giants hire former GM Bobby Evans as adviser to Buster Posey: report MLB | Ichiro Suzuki, Vallejo’s CC Sabathia, Sunnyvale’s Troy Tulowitzki among 14 newcomers on baseball Hall of Fame ballot. Wagner tops holdovers MLB | SF Giants name Randy Winn vice president of player development MLB | KNBR shakeup: Tom Tolbert, John Lund out at San Francisco’s longtime sports talk radio power The ABS currently calls strikes solely based on where the ball crosses the midpoint of the plate, 8.5 inches from the front and the back. The top of the strike zone was increased to 53.5% of batter height this year from 51%, and the bottom remained at 27%. After splitting having the robot alone for the first three games of each series and a human with a challenge system in the final three during the first 2 1/2 months of the Triple-A season, MLB on June 25 switched to an all-challenge system in which a human umpire makes nearly all decisions. During the second half of the season, each team had three challenges in the Pacific Coast League and two in the International League. A team retains its challenge if successful, similar to the regulations for big league teams with video reviews. “I think we will have a spring training ABS test that will provide a meaningful opportunity for all major league players to see what the challenge system will look like,” Manfred said. “It won’t be in every single ballpark but we actually have a plan where every team will get meaningful exposure.”None

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GSA Capital Partners LLP cut its holdings in shares of Gravity Co., Ltd. ( NASDAQ:GRVY – Free Report ) by 23.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,201 shares of the technology company’s stock after selling 1,255 shares during the quarter. GSA Capital Partners LLP’s holdings in Gravity were worth $249,000 at the end of the most recent quarter. Several other hedge funds have also recently added to or reduced their stakes in GRVY. GAMMA Investing LLC raised its holdings in Gravity by 68.9% during the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock worth $26,000 after purchasing an additional 131 shares during the last quarter. QRG Capital Management Inc. bought a new position in Gravity during the 2nd quarter worth approximately $209,000. Caprock Group LLC bought a new position in Gravity during the 2nd quarter worth approximately $394,000. Apis Capital Advisors LLC raised its holdings in Gravity by 88.9% during the 2nd quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company’s stock worth $1,373,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Creative Planning raised its holdings in Gravity by 7.3% during the 2nd quarter. Creative Planning now owns 3,801 shares of the technology company’s stock worth $307,000 after purchasing an additional 260 shares during the last quarter. Institutional investors own 9.92% of the company’s stock. Analysts Set New Price Targets Separately, StockNews.com upgraded shares of Gravity from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Gravity Price Performance Shares of NASDAQ GRVY opened at $66.64 on Friday. The company has a 50-day moving average price of $62.63 and a 200-day moving average price of $69.89. The stock has a market capitalization of $463.15 million, a P/E ratio of 7.42 and a beta of 1.34. Gravity Co., Ltd. has a 1 year low of $57.37 and a 1 year high of $88.85. Gravity Profile ( Free Report ) Gravity Co, Ltd. develops and publishes online and mobile games worldwide. It offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Landverse. Its mobile games portfolio includes Ragnarok M; Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; Ragnarok Arena; WITH ISLAND; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; Generation Zombie; Ragnarok Idle Adventure; Ragnarok 20 Heroes; White Chord; WITH: Whale In The High; Ragnarok Lost Memories; and Paladog Tactics. Featured Articles Want to see what other hedge funds are holding GRVY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gravity Co., Ltd. ( NASDAQ:GRVY – Free Report ). Receive News & Ratings for Gravity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gravity and related companies with MarketBeat.com's FREE daily email newsletter .None

Bjork is 'absolutely' confident that Day will return next year at Ohio StateDana Hull | (TNS) Bloomberg News Jared Birchall, Elon Musk’s money manager and the head of his family office, is listed as the chief executive officer. Jehn Balajadia, a longtime Musk aide who has worked at SpaceX and the Boring Co., is named as an official contact. Related Articles National Politics | Trump’s picks for top health jobs not just team of rivals but ‘team of opponents’ National Politics | Biden will decide on US Steel acquisition after influential panel fails to reach consensus National Politics | Biden vetoes once-bipartisan effort to add 66 federal judgeships, citing ‘hurried’ House action National Politics | A history of the Panama Canal — and why Trump can’t take it back on his own National Politics | President-elect Trump wants to again rename North America’s tallest peak But they’re not connected to Musk’s new technology venture, or the political operation that’s endeared him to Donald Trump. Instead, they’re tied to the billionaire’s new Montessori school outside Bastrop, Texas, called Ad Astra, according to documents filed with state authorities and obtained via a Texas Public Information Act request. The world’s richest person oversees an overlapping empire of six companies — or seven, if you include his political action committee. Alongside rockets, electric cars, brain implants, social media and the next Trump administration, he is increasingly focused on education, spanning preschool to college. One part of his endeavor was revealed last year, when Bloomberg News reported that his foundation had set aside roughly $100 million to create a technology-focused primary and secondary school in Austin, with eventual plans for a university. An additional $137 million in cash and stock was allotted last year, according to the most recent tax filing for the Musk Foundation. Ad Astra is closer to fruition. The state documents show Texas authorities issued an initial permit last month, clearing the way for the center to operate with as many as 21 pupils. Ad Astra’s website says it’s “currently open to all children ages 3 to 9.” The school’s account on X includes job postings for an assistant teacher for preschool and kindergarten and an assistant teacher for students ages 6 to 9. To run the school, Ad Astra is partnering with a company that has experience with billionaires: Xplor Education, which developed Hala Kahiki Montessori school in Lanai, Hawaii, the island 98% owned by Oracle Corp. founder Larry Ellison. Ad Astra sits on a highway outside Bastrop, a bedroom community about 30 miles from Austin and part of a region that’s home to several of Musk’s businesses. On a visit during a recent weekday morning, there was a single Toyota Prius in the parking lot and no one answered the door at the white building with a gray metal roof. The school’s main entrance was blocked by a gate, and there was no sign of any children on the grounds. But what information there is about Ad Astra makes it sound like a fairly typical, if high-end, Montessori preschool. The proposed schedule includes “thematic, STEM-based activities and projects” as well as outdoor play and nap time. A sample snack calendar features carrots and hummus. While Birchall’s and Balajadia’s names appear in the application, it isn’t clear that they’ll have substantive roles at the school once it’s operational. Musk, Birchall and Balajadia didn’t respond to emailed questions. A phone call and email to the school went unanswered. Access to high quality, affordable childcare is a huge issue for working parents across the country, and tends to be an especially vexing problem in rural areas like Bastrop. Many families live in “childcare deserts” where there is either not a facility or there isn’t an available slot. Opening Ad Astra gives Musk a chance to showcase his vision for education, and his support for the hands-on learning and problem solving that are a hallmark of his industrial companies. His public comments about learning frequently overlap with cultural concerns popular among conservatives and the Make America Great Again crowd, often focusing on what he sees as young minds being indoctrinated by teachers spewing left-wing propaganda. He has railed against diversity, equity and inclusion efforts, and in August posted that “a lot of schools are teaching white boys to hate themselves.” Musk’s educational interests dovetail with his new role as Trump’s “first buddy.” The billionaire has pitched a role for himself that he — and now the incoming Trump administration — call “DOGE,” or the Department of Government Efficiency. Though it’s not an actual department, DOGE now posts on X, the social media platform that Musk owns. “The Department of Education spent over $1 billion promoting DEI in America’s schools,” the account posted Dec. 12. Back in Texas, Bastrop is quickly becoming a key Musk point of interest. The Boring Co., his tunneling venture, is based in an unincorporated area there. Across the road, SpaceX produces Starlink satellites at a 500,000-square-foot (46,000-square-meter) facility. Nearby, X is constructing a building for trust and safety workers. Musk employees, as well as the general public, can grab snacks at the Boring Bodega, a convenience store housed within Musk’s Hyperloop Plaza, which also contains a bar, candy shop and hair salon. Ad Astra is just a five-minute drive away. It seems to have been designed with the children of Musk’s employees — if not Musk’s own offspring — in mind. Musk has fathered at least 12 children, six of them in the last five years. “Ad Astra’s mission is to foster curiosity, creativity, and critical thinking in the next generation of problem solvers and builders,” reads the school’s website. A job posting on the website of the Montessori Institute of North Texas says “While their parents support the breakthroughs that expand the realm of human possibility, their children will grow into the next generation of innovators in a way that only authentic Montessori can provide.” The school has hired an executive director, according to documents Bloomberg obtained from Texas Health and Human Services. Ad Astra is located on 40 acres of land, according to the documents, which said a 4,000-square-foot house would be remodeled for the preschool. It isn’t uncommon for entrepreneurs to take an interest in education, according to Bill Gormley, a professor emeritus at the McCourt School of Public Policy at Georgetown University who studies early childhood education. Charles Butt, the chairman of the Texas-based H-E-B grocery chain, has made public education a focus of his philanthropy. Along with other business and community leaders, Butt founded “Raise Your Hand Texas,” which advocates on school funding, teacher workforce and retention issues and fully funding pre-kindergarten. “Musk is not the only entrepreneur to recognize the value of preschool for Texas workers,” Gormley said. “A lot of politicians and business people get enthusiastic about education in general — and preschool in particular — because they salivate at the prospect of a better workforce.” Musk spent much of October actively campaigning for Trump’s presidential effort, becoming the most prolific donor of the election cycle. He poured at least $274 million into political groups in 2024, including $238 million to America PAC, the political action committee he founded. While the vast majority of money raised by America PAC came from Musk himself, it also had support from other donors. Betsy DeVos, who served as education secretary in Trump’s first term, donated $250,000, federal filings show. The Department of Education is already in the new administration’s cross hairs. Trump campaigned on the idea of disbanding the department and dismantling diversity initiatives, and he has also taken aim at transgender rights. “Rather than indoctrinating young people with inappropriate racial, sexual, and political material, which is what we’re doing now, our schools must be totally refocused to prepare our children to succeed in the world of work,” Trump wrote in Agenda 47, his campaign platform. Musk has three children with the musician Grimes and three with Shivon Zilis, who in the past was actively involved at Neuralink, his brain machine interface company. All are under the age of five. Musk took X, his son with Grimes, with him on a recent trip to Capitol Hill. After his visit, he shared a graphic that showed the growth of administrators in America’s public schools since 2000. Musk is a fan of hands-on education. During a Tesla earnings call in 2018, he talked about the need for more electricians as the electric-car maker scaled up the energy side of its business. On the Joe Rogan podcast in 2020, Musk said that “too many smart people go into finance and law.” “I have a lot of respect for people who work with their hands and we need electricians and plumbers and carpenters,” Musk said while campaigning for Trump in Pennsylvania in October. “That’s a lot more important than having incremental political science majors.” Ad Astra’s website says the cost of tuition will be initially subsidized, but in future years “tuition will be in line with local private schools that include an extended day program.” “I do think we need significant reform in education,” Musk said at a separate Trump campaign event. “The priority should be to teach kids skills that they will find useful later in life, and to leave any sort of social propaganda out of the classroom.” With assistance from Sophie Alexander and Kara Carlson. ©2024 Bloomberg News. Visit at bloomberg.com. Distributed by Tribune Content Agency, LLC.

Nutanix to Present at Upcoming Investor ConferenceA Chinese military think tank is recommending the party leadership strengthen economic and emotional bonds with tech billionaire Elon Musk to influence President-elect Donald Trump on how to respond to the Taiwan issue, according to insider information obtained by Yuan Hongbing, a former law professor at Peking University and renowned Chinese dissident living in exile in Australia. According to Yuan’s source within the CCP, who The Epoch Times did not communicate directly with due to security concerns, vice chairman of the CCP’s Central Military Commission Zhang Youxia convened nine of China’s top geopolitical experts and military strategists from the People’s Liberation Army (PLA) and the ministry of foreign affairs to author new report from a Chinese military think tank on the likely impact of the 2024 U.S. election on geopolitics. Yuan, who viewed the report, said the report outlined recommendations for the party leadership on how to handle U.S.–China relations, and correctly predicted that Trump would be returning to the White House. One of the strategic recommendations involved Musk, CEO of Tesla, SpaceX, and X. “This think tank has advised the Xi Jinping administration to focus the CCP’s United Front to work on targeting Elon Musk and his family members, especially his mother,” Yuan told The Epoch Times. The United Front coordinates thousands of groups to carry out foreign political influence operations, suppress dissident voices and activities, gather intelligence, and facilitate the transfer of technology to China. Ultimately, the CCP uses the United Front to advance its economic, political, and security interests worldwide. In December 2023, Xi met with Chinese diplomatic envoys in Beijing and told them they must “make good use of the effective instrument of united front work,” according to Chinese state-run media. Yuan believes the think tank’s strategy of influencing Trump through Musk is unlikely to be effective. “It’s a low-probability event,” he told The Epoch Times. “Trump’s national aspirations and the CCP’s authoritarian strategy are fundamentally incompatible.” He added that the administration team appointed by Trump is composed of politicians with a clear understanding of the CCP’s oppressive regime. “Trump is a terminator of appeasement policies toward the CCP’s authoritarianism,” he said. Yuan said he hopes that Musk and his family members will stick to their consciences if they are approached by CCP personnel. “CCP’s totalitarian regime is the enemy of the free, democratic world and the greatest adversary of the United States,” Yuan said. “It’s hoped that entrepreneurs will stand on the side of freedom and democracy at this critical moment in history.” The report also includes several other recommendations to Xi, such as further strengthening military and economic aid to Russia, fracturing America’s various alliances on a global scale, and strengthening political relations with the Middle East’s resisting powers to the United States. While some China experts believe that if the United States escalates its countermeasures against the CCP, Xi Jinping will retreat on issues like Taiwan and the South China Sea, Yuan himself holds that this view “contradicts the fundamental political logic of the tyrannical CCP regime.” “Xi Jinping is currently facing an extremely dire situation, both domestically and internationally,” he told The Epoch Times. “He has no room to retreat. “In this context, Xi Jinping’s only possible way out—or the way he perceives it—would be to initiate a war over Taiwan to fully counter the pressure from the United States,” he said. “If he abandons his strategic response, the CCP will be in a completely passive position in its geopolitical struggle with the United States. This passive state could lead to a complete collapse of the CCP” due to domestic discontent, Yuan said. The law professor, who has been analyzing China affairs for years, predicts that based on the political record of the incoming U.S. administration, a direct confrontation between Trump and Xi is inevitable. “[The administration] will certainly hold the CCP accountable for the harm caused to the international community and humanity over the years,” he said. “The investigation into the Wuhan virus is an integral part of the overall U.S. strategic deployment.” “The only force that can stop this is the global expansion of CCP’s tyranny, the authoritarian expansion strategy that Xi Jinping’s regime is currently executing,” he said. “This means that for Trump to achieve his political vision of making America great again, he must completely defeat Xi Jinping’s global expansion strategy of communist authoritarianism. “Therefore, the conflict between the U.S. and China has become inevitable.”

Nantes loses 2-0 at home to Le Havre in a match interrupted by angry fans. Lille beats RennesIntel ( INTC 3.28% ) stock is climbing in Thursday's trading. The semiconductor company's share price was up 3.1% as of 3:15 p.m. ET. Meanwhile, the S&P 500 index and the Nasdaq Composite index were both down 0.5%. Intel stock is gaining ground today following a presentation from co-CEOs Michelle Johnston Holthaus and David Zinsner at Barclay's Global Technology Conference . The executives shared some insight into the direction of the business going forward, and Wall Street seems to have been somewhat comforted by the content of the presentation. Intel stock is down roughly 59% in 2024. Intel starts to make its plans a bit more clear Holthaus and Zinsner stepped in as co-CEOs following the recent departure of former-CEO Pat Gelsinger. The company's path forward amid underperformance for its chip design and semiconductor fabrication units was already a concern for investors, and Gelsinger's resignation only added to the uncertainty surrounding the business. With today's presentation at the Barclarys conference, Holthaus and Zinsner shared some new insights and commented on Intel's direction going forward. Most notably, they said that Intel's foundry business is in the process of being shifted to be a subsidiary. This means it will operate pretty much entirely separately from the chip-design division. The executives also left the door open for the foundry business to be spun off entirely, but Zinsner said that whether the unit would ever be fully separated was a question for another day. What's next for Intel? Intel is going through some dramatic structural changes. In addition to discussing plans for creating more separation for the foundry business, Holthaus and Zinsner indicated that the company was open to selling some of its stake in machine-vision specialist Mobileye . It's also looking for a partner to help take its Altera unit public again. Intel acquired the programmable chips specialist for $16.7 billion in 2015. As mentioned in the Barclays presentation, Intel has also been facing significant competitive pressures in the chip design space -- and Holthaus highlighted recent wins by Advanced Micro Devices as something the company needs to do a better job of combatting. Along those lines, Intel is aiming to make 2025 a year of stabilization and regaining market share in the data center, and the company acknowledges it has a lot of work to do when it comes to taking advantage of artificial intelligence ( AI ) opportunities.

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Mutual of America Capital Management LLC lessened its holdings in Collegium Pharmaceutical, Inc. ( NASDAQ:COLL – Free Report ) by 17.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,342 shares of the specialty pharmaceutical company’s stock after selling 13,586 shares during the period. Mutual of America Capital Management LLC’s holdings in Collegium Pharmaceutical were worth $2,409,000 as of its most recent SEC filing. Other large investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its holdings in shares of Collegium Pharmaceutical by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the specialty pharmaceutical company’s stock valued at $531,000 after acquiring an additional 300 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Collegium Pharmaceutical by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 34,773 shares of the specialty pharmaceutical company’s stock valued at $1,120,000 after purchasing an additional 452 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Collegium Pharmaceutical by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,282 shares of the specialty pharmaceutical company’s stock valued at $1,137,000 after purchasing an additional 535 shares in the last quarter. CWM LLC grew its stake in Collegium Pharmaceutical by 97.5% in the 3rd quarter. CWM LLC now owns 1,491 shares of the specialty pharmaceutical company’s stock worth $58,000 after buying an additional 736 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Collegium Pharmaceutical by 124.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,428 shares of the specialty pharmaceutical company’s stock worth $55,000 after buying an additional 792 shares during the last quarter. Collegium Pharmaceutical Stock Down 1.5 % Shares of NASDAQ COLL opened at $29.96 on Friday. The firm’s fifty day moving average is $35.69 and its 200 day moving average is $34.77. Collegium Pharmaceutical, Inc. has a 52 week low of $25.16 and a 52 week high of $42.29. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 3.43. The company has a market cap of $966.21 million, a price-to-earnings ratio of 12.91 and a beta of 0.95. Analyst Ratings Changes Get Our Latest Stock Analysis on COLL Insiders Place Their Bets In other Collegium Pharmaceutical news, EVP Thomas B. Smith sold 9,593 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.62, for a total transaction of $351,295.66. Following the completion of the transaction, the executive vice president now owns 53,816 shares of the company’s stock, valued at $1,970,741.92. This represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website . Also, EVP Shirley R. Kuhlmann sold 19,248 shares of Collegium Pharmaceutical stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $38.30, for a total value of $737,198.40. Following the completion of the sale, the executive vice president now owns 120,161 shares in the company, valued at approximately $4,602,166.30. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders own 3.98% of the company’s stock. Collegium Pharmaceutical Profile ( Free Report ) Collegium Pharmaceutical, Inc, a specialty pharmaceutical company, engages in the development and commercialization of medicines for pain management. Its portfolio includes Xtampza ER, an abuse-deterrent, extended-release, and oral formulation of oxycodone for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment; Nucynta ER and Nucynta IR, which are extended-release and immediate-release formulations of tapentadol, indicated for the management of acute, severe, and persistent pain; Belbuca, a buccal film that contains buprenorphine; and Symproic, an oral formulation of naldemedine for the treatment of opioid-induced constipation in adult patients with chronic non-cancer pain. Featured Stories Want to see what other hedge funds are holding COLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Collegium Pharmaceutical, Inc. ( NASDAQ:COLL – Free Report ). 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