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Provident Bancorp, Inc. Adopts Stock Repurchase Program
Onyiah 5-13 3-4 13, Suarez 4-12 3-4 14, Krimili 4-14 5-6 15, Twidale 8-13 1-2 20, Williams 0-1 3-4 3, Ackerman 0-2 1-2 1, Abigor 2-3 0-2 4, Donez 1-1 0-0 2, Maul 0-0 0-0 0, Totals 24-59 16-24 72 Tate 2-4 0-0 5, VanSlooten 3-12 7-14 13, Ayrault 7-20 6-8 22, Hallock 5-15 3-4 15, Shumate 1-4 0-0 3, Sotelo 1-1 1-2 3, Blair 0-0 0-0 0, Hampton 4-4 0-0 10, Kimball 0-1 0-0 0, Simmons 2-9 3-5 7, Totals 25-70 20-33 78 3-Point Goals_California 8-22 (Suarez 3-7, Krimili 2-7, Twidale 3-8), Michigan St. 8-20 (Tate 1-2, Ayrault 2-6, Hallock 2-4, Shumate 1-4, Hampton 2-2, Kimball 0-1, Simmons 0-1). Assists_California 14 (Krimili 5), Michigan St. 13 (Simmons 3). Fouled Out_California Onyiah, Suarez, Michigan St. Tate. Rebounds_California 46 (Suarez 11), Michigan St. 42 (Ayrault 9). Total Fouls_California 24, Michigan St. 18. Technical Fouls_California Krimili 1, Michigan St. Tate 1, Team 1. A_325.
In this environment, you can land some pretty solid high-yielders (think yields at or north of 6%) without running face-first into an imminent dividend or distribution reduction. Indeed, chasing yield is often a precarious thing to do, especially for retirees who want more passive income to fund their retirement expenses. Even though interest rates have come down quite a bit, they’re still a tad high. And if the Bank of Canada suddenly stops cutting rates (it’s a possibility if tit-for-tat tariffs and other trade risks are in the near future), perhaps the high-yielding REITs (real estate investment trusts) and their high yields could prove smart bets today. As always, though, I’d never encourage investors to make moves based on where they expect rates will be in the future. Further, unpredictable things can happen (maybe Trump will reach a new trade deal, and tariffs won’t have a chance to happen), making it ultra-challenging to profit from macroeconomic events. In any case, here are three great REIT plays that investors may wish to check out if they seek yields over 6% and a good shot at longer-term appreciation. SmartCentres REIT First up, we have an underrated retail REIT in ( ), which has a yield of 7.19%. Indeed, the distribution may be a lofty commitment, but it’s one that I believe is more sustainable than it looks. As one of the higher-yielding REITs that kept paying distributions during lockdowns, I’d argue that Smart’s payout is safer than the adjusted funds from operations (AFFO) payout ratio would suggest. If its distribution can make it through the worst of a pandemic, I’d argue it can also fare well through a mild economic or period of stagnation. Indeed, it’s easy to forget just how resilient the REIT and its distribution were through one of the worst market plunges in recent memory! Further, SmartCentres stands out as a REIT that could get back on the growth track once rates finally do fall significantly. Residential real estate is just one area that could help Smart enhance its growth profile. Lower borrowing costs may be the boost the REIT needs to sustain a rally toward prior highs. Either way, it’s only smart to consider the name if you seek a secure but still hefty yield. H&R REIT ( ) shares are yielding just over 6% again after the latest slump off 52-week highs of $11 and change. Indeed, it’s been a painful 14% correction in the name as investors re-evaluate where interest rates will be headed next. Despite the magnitude of the decline, I still view H&R as one of the cheapest ways to land a yield of around 6%. Unlike with SmartCentres, H&R REIT reduced its distribution during the pandemic. Despite this, the distribution has still been bountiful. And while it has been tough to sustain momentum after imploding back in 2020, I still think the diversified REIT, which has been offloading assets in recent quarters, stands out as one of the cheapest high-income offerings in the entire REIT scene. Sure, pressures facing the REIT may not subside anytime soon. But if you’re looking for passive income and in a single name, I think it’s tough to overlook HR.UN while it’s in the single digits again.NEW YORK — Technology stocks pulled Wall Street to another record amid a mixed Monday of trading. The S&P 500 rose 0.2% from its all-time high set Friday to post a record for the 54th time this year. The Dow Jones Industrial Average fell 128 points, or 0.3%, while the Nasdaq composite gained 1%. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 28.7% to lead the market. Following allegations of misconduct and the resignation of its public auditor, the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the company’s board. It also said it doesn’t expect to restate its past financials and that it will find a new chief financial officer, appoint a general counsel and make other moves to strengthen its governance. Big Tech stocks also helped prop up the market. Gains of 1.8% for Microsoft and 3.2% for Meta Platforms were the two strongest forces pushing upward on the S&P 500. Intel was another propellant during the morning, but it lost an early gain to fall 0.5% after the chip company said CEO Pat Gelsinger has retired and stepped down from the board. Intel is looking for Gelsinger’s replacement, and its chair said it’s “committed to restoring investor confidence.” Intel recently lost its spot in the Dow Jones Industrial Average to Nvidia, which has skyrocketed in Wall Street’s frenzy around AI. The majority of stocks in the S&P 500 fell, including California utility PG&E. It dropped 5% after saying it would sell $2.4 billion of stock and preferred shares to raise cash. Retailers were mixed amid what’s expected to be the best Cyber Monday on record and coming off Black Friday. Target fell 1.2%. Walmart rose 0.2%. Amazon, which looks to benefit from online sales from Cyber Monday, climbed 1.4%. All told, the S&P 500 added 14.77 points to 6,047.15. The Dow fell 128.65 to 44,782.00, and the Nasdaq composite climbed 185.78 to 19,403.95. The stock market largely took Donald Trump’s latest threat on tariffs in stride. The president-elect on Saturday threatened 100% tariffs against a group of developing economies if they act to undermine the U.S. dollar. Trump said he wants the group, headlined by Brazil, Russia, India and China, to promise it won’t create a new currency or otherwise try to undercut the U.S. dollar. The U.S. dollar’s value rose Monday against several other currencies, but one of its strongest moves likely had less to do with the tariff threats. The euro fell amid a political battle in Paris over the French government’s budget. The euro sank 0.7% against the U.S. dollar and broke below $1.05. In the bond market, Treasury yields gave up early gains to hold relatively steady. The yield on the 10-year Treasury ended the day at 4.19%. Get local news delivered to your inbox!
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The Michigan Wolverines pulled off one of the most shocking upsets of the 2024 college football season when they picked up a 13-10 victory over the Ohio State Buckeyes in Week 14. Unsurprisingly, all eyes have been on Ohio State's head coach Ryan Day in the wake of this defeat, which led to a hilarious take from Jalen Rose. Despite the fact that the Buckeyes entered this game as the No. 2 team in the nation, and the Wolverines were just 6-5, they managed to pull off an improbable win. It was not a very good look for Day, who has now lost four straight games to Michigan during his time in charge of Ohio State. Javascript is required for you to be able to read premium content. Thanks for the feedback.
Fianna Fail and Fine Gael eye independent TDs as option to secure Dail majorityNEW YORK (AP) — U.S. stocks are rising toward records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.5% and was on track to top its all-time high set a couple weeks ago. The Dow Jones Industrial Average added 81 points, or 0.2%, to its own record set the day before, while the Nasdaq composite was 0.5% higher, with less than an hour remaining in trading. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get any of our free email newsletters — news headlines, obituaries, sports, and more.By Michelle Marchante, Miami Herald (TNS) MIAMI — As her students finished their online exam, Arlet Lara got up to make a cafe con leche . Her 16-year-old son found her on the kitchen floor. First, he called Dad in a panic. Then 911. “I had a stroke and my life made a 180-degree turn,” Lara told the Miami Herald, recalling the medical scare she experienced in May 2020 in the early months of the COVID pandemic. “The stroke affected my left side of the body,” the North Miami woman and former high school math teacher said. Lara, an avid runner and gym goer, couldn’t even walk. “It was hard,” the 50-year-old mom said. After years of rehabilitation therapy and a foot surgery, Lara can walk again. But she still struggles with moving. This summer, she became the first patient in South Florida to get an implant of a new and only FDA-approved nerve stimulation device designed to help ischemic stroke survivors regain movement in their arms and hands. This first procedure was at Jackson Memorial Hospital in Miami. Lara’s rehab was at at the Christine E. Lynn Rehabilitation Center for The Miami Project to Cure Paralysis, part of a partnership between Jackson Health System and UHealth. Every year, thousands in the United States have a stroke , with one occurring every 40 seconds, according to the U.S. Centers for Disease Control and Prevention. The majority of strokes are ischemic, often caused by blood clots that obstruct blood flow to the brain. For survivors, most of whom are left with some level of disability, the Vivistim Paired VNS System, the device implanted in Lara’s chest, could be a game changer in recovery, said Dr. Robert Starke, a UHealth neurosurgeon and interventional neuroradiologist. He also serves as co-director of endovascular neurosurgery at Jackson Memorial Hospital, part of Miami-Dade’s public hospital system. Arlet Lara, the first patient in South Florida to get an FDA-approved nerve stimulation implant, right, runs into her rehabilitation neurology physician Dr. Gemayaret Alvarez, before her physical therapy appointment on Monday, Sept. 9, 2024, at Lynn Rehabilitation Center at Jackson Memorial Hospital. The implant is designed to help stroke survivors regain function in their arms. (Alie Skowronski/Miami Herald/TNS) Arlet Lara, the first patient in South Florida to get an FDA-approved nerve stimulation implant designed to help stroke survivors regain function in their arms, goes through exercises while her therapist activates the device during her physical therapy appointment on Monday, Sept. 9, 2024, at Lynn Rehabilitation Center at Jackson Memorial Hospital. The activation works as positive reinforcement to her muscles when she completes the exercise correctly. (Alie Skowronski/Miami Herald/TNS) Arlet Lara, the first patient in South Florida to get an FDA-approved nerve stimulation implant, does an exercise while Neil Batungbakal, rehabilitation therapist, activates the implant with the black trigger during her physical therapy appointment on Monday, Sept. 9, 2024, at Lynn Rehabilitation Center at Jackson Memorial Hospital. The implant is designed to help stroke survivors regain function in their arms. The activation works as positive reinforcement to her muscles when she completes the exercise correctly. (Alie Skowronski/Miami Herald/TNS) Arlet Lara, the first patient in South Florida to get an FDA- approved nerve stimulation implant, does an exercise while Neil Batungbakal, rehabilitation therapist, activates the implant with the black trigger during her physical therapy appointment on Monday, Sept. 9, 2024, at Lynn Rehabilitation Center at Jackson Memorial Hospital. Arlet Lara, the first patient in South Florida to get an FDA-approved nerve stimulation implant, right, runs into her rehabilitation neurology physician Dr. Gemayaret Alvarez, before her physical therapy appointment on Monday, Sept. 9, 2024, at Lynn Rehabilitation Center at Jackson Memorial Hospital. The implant is designed to help stroke survivors regain function in their arms. (Alie Skowronski/Miami Herald/TNS) The Vivistim Paired VNS System is a small pacemaker-like device implanted in the upper chest and neck area. Patients can go home the same day. The U.S. Food and Drug Administration approved the stroke rehabilitation system in 2021 to be used alongside post-ischemic stroke rehabilitation therapy to treat moderate to severe mobility issues in hands and arms. Lara’s occupational therapist can activate the device during rehabilitation sessions to electrically stimulate the vagus nerve, which runs from the brain down to the abdomen and regulates various parts of the body’s nervous system. The electrical stimulation rewires the brain to improve a stroke survivor’s ability to move their arms and hands. Lara also has a magnet she can use to activate the device when she wants to practice at home. Her therapy consists of repetitive tasks, including coloring, pinching cubes and grabbing and releasing cylindrical shapes. After several weeks of rehabilitation therapy with the device, Lara has seen improvement. “Little by little, I’m noticing that my hand is getting stronger. I am already able to brush my teeth with the left hand,” she told the Miami Herald in September. Since then, Lara has finished the initial six-week Vivitism therapy program, and is continuing to use the device in her rehabilitation therapy. She continues to improve and can now eat better with her left hand and can brush her hair with less difficulty, according to her occupational therapist, Neil Batungbakal. Lara learned about the device through an online group for stroke survivors and contacted the company to inquire. She then connected them with her Jackson medical team. Now a year later, the device is available to Jackson patients. So far, four patients have received the implant at Jackson. Starke sees the device as an opportunity to help bring survivors one step closer to regaining full mobility. Strokes are a leading cause of disability worldwide. While most stroke survivors can usually recover some function through treatment and rehabilitation, they tend to hit a “major plateau” after the first six months of recovery, he said. Vivistim, when paired with rehabilitation therapy, could change that. Jackson Health said results of a clinical trial published in the peer-reviewed medical journal The Lancet in 2021 showed that the device, “when paired with high-repetition, task-specific occupational or physical therapy, helps generate two to three times more hand and arm function for stroke survivors than rehabilitation therapy alone.” The device has even shown to benefit patients 20 years from their original stroke, according to Starke. “So now a lot of these patients that had strokes 10-15 years ago that thought that they would never be able to use their arm in any sort of real functional way are now able to have a real meaningful function, which is pretty tremendous,” Starke said. Vivistim’s vagus-nerve stimulation technology was developed by researchers at the University of Texas at Dallas’ Texas Biomedical Device Center and is being sold commercially by Austin-based MicroTransponder, a company started by university graduates. Similar devices are used to treat epilepsy and depression . For Lara, the device is a new tool to help her recovery journey. “Everything becomes a challenge so we are working with small things every day because I want to get back as many functions as possible,” Lara said. Patients interested in Vivistim should speak with their doctor to check their eligibility. The FDA said patients should make sure to discuss any prior medical history, including concurrent forms of brain stimulation, current diathermy treatment, previous brain surgery, depression, respiratory diseases and disorders such as asthma, and cardiac abnormalities. “Adverse events included but were not limited to dysphonia (difficulty speaking), bruising, falling, general hoarseness, general pain, hoarseness after surgery, low mood, muscle pain, fracture, headache, rash, dizziness, throat irritation, urinary tract infection and fatigue,” the FDA said. MicroTransponder says the device is “covered by Medicare, Medicaid, and private insurance with prior authorization on a case-by-case basis.” To learn more about the device, visit vivistim.com. ©2024 Miami Herald. Visit at miamiherald.com. Distributed by Tribune Content Agency, LLC.
Geoffrey Hinton to donate some of Nobel winnings to create new annual awardTechnology stocks helped pull stocks lower on Wall Street Wednesday, handing the market its first loss in more than a week. The S&P 500 fell 0.4%, even though more stocks in the index notched gains than ended lower. The loss snapped a seven-day winning streak for the benchmark index. The Dow Jones Industrial Average fell 0.3%, its first loss after five gains. The Dow and S&P 500 remain near the all-time highs they set on Tuesday. The Nasdaq composite, which is heavily weighted with technology stocks, fell 0.6%. Losses for tech heavyweights like Nvidia, Microsoft and Broadcom were the drag on the market. Semiconductor giant Nvidia fell 1.2%. Its huge value gives it outsized influence on market indexes. Microsoft fell 1.2% and Broadcom finished 3.1% lower. Several personal computer makers also helped pull the market lower following their latest earnings reports. HP sank 11.4% after giving investors a weaker-than-expected earnings forecast for its current quarter. Dell slid 12.2% after its latest quarterly revenue fell short of Wall Street forecasts. Gains for financial and health care companies helped temper the market's losses. Berkshire Hathaway rose 0.9% and Merck & Co. added 1.5%. All told, the S&P 500 fell 22.89 points to 5,998.74, while the Dow dropped 138.25 points to 44,722.06. The Nasdaq fell 115.10 points to 19,060.48. Traders also had their eye on new reports on the economy and inflation Wednesday. The U.S. economy expanded at a healthy 2.8% annual pace from July through September, according to the Commerce Department, leaving its original estimate of third-quarter growth unchanged. The growth was driven by strong consumer spending and a surge in exports. The update followed a report on Tuesday from the Conference Board that said confidence among U.S. consumers improved in November, but not by as much as economists expected. Consumers have been driving economic growth, but the latest round of earnings reports from retailers shows a mixed and more cautious picture. Department store operator Nordstrom fell 8.1% after warning investors about a trend toward weakening sales that started in late October. Clothing retailer Urban Outfitters jumped 18.3% after beating analysts' third-quarter financial forecasts. Weeks earlier, retail giant Target gave investors a discouraging forecast for the holiday season, while Walmart provided a more encouraging forecast. Consumers, though resilient, are still facing pressure from inflation. The latest update from the U.S. government shows that inflation accelerated last month. The personal consumption expenditures index, or PCE, rose to 2.3% in October from 2.1% in September. Overall, the rate of inflation has been falling broadly since it peaked more than two years ago. The PCE, which is the Federal Reserve's preferred measure of inflation, was just below 7.3% in June of 2022. Another measure of inflation, the consumer price index, peaked at 9.1% at the same time. The latest inflation data, though, is a sign that the rate of inflation seems to be stalling as it falls to within range of the Fed's target of 2%. The central bank started raising its benchmark interest rate from near-zero in early 2022 to a two-decade high by the middle of 2023 and held it there in order to tame inflation. The Fed started cutting its benchmark interest rate in September, followed by a second cut in November. Wall Street expects a similar quarter-point cut at the central bank's upcoming meeting in December. "Today's data shouldn't change views of the likely path for disinflation, however bumpy," said David Alcaly, lead macroeconomic strategist at Lazard Asset Management. "But a lot of observers, probably including some at the Fed, are looking for reasons to get more hawkish on the outlook given the potential for inflationary policy change like new tariffs." President-elect Donald Trump has said he plans to impose sweeping new tariffs on Mexico, Canada and China when he takes office in January. That could shock the economy by raising prices on a wide range of goods and accelerating the rate of inflation. Such a shift could prompt the Fed to rethink future cuts to interest rates. Treasury yields slipped in the bond market. The yield on the 10-year Treasury fell to 4.25% from 4.30% late Tuesday. The yield on the two-year Treasury, which more closely follows expected actions by the Fed, fell to 4.22% from 4.25% late Tuesday. U.S. markets will be closed Thursday for Thanksgiving, and will reopen for a half day on Friday.
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Toronto Argonauts sign American running back Kevin Brown
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