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MONROE TOWNSHIP, N.J., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") OPTT , today announced financial results for the second quarter ended October 31, 2024 (Q2FY25). Q2FY25 Financial Highlights Revenue : $2.4 million, compared to $0.9 million for the same period last year, representing a 2.7x increase. Net Loss : $3.9 million, compared to $7.2 million in the prior year period, representing a year-over-year decrease of 46%. Operating expenses have been reduced by 41%, including reduced external expenditures leading to a material reduction in third party spend. Cash Used in Operating Activities : $4.8 million, compared to $7.5 million in the prior year period, representing a year-over-year decrease of 37%. Recent Business and Operational Highlights Strategic partnerships continue to expand our market presence: In Latin America, we announced a partnership that includes $3 million in purchase order commitments over 36 months. This underscores the growing demand for our WAM-V® USVs and reinforces our leadership in cutting-edge maritime technology. In the Middle East, we partnered with Unique Group to exhibit our WAM-V at ADIPEC and to provide services to commercial customers, signed a distributor agreement with Remah International Group in the UAE to focus on defense and security applications, and entered into a partnership with 3B General Trading & Contracting Co. W.L.L. to explore offshore energy and maritime projects in Kuwait. We believe that our innovative solutions, such as PowerBuoys® and AI-powered WAM-V® USVs equipped with MerrowsTM systems, are uniquely positioned to meet the region's demand for sustainable, energy efficient offshore solutions across commercial and defense industries. Domestically, the Company remains steadfast in its commitment to supporting national defense and other areas of focus. During Q2FY25, the Company completed the second set of exercises of the previously announced follow-on contract as a subcontractor to EpiSci and successfully deployed several WAM-V autonomous surface vehicles during the Mission Autonomy Proving Grounds (MAPG) as part of Project Overmatch. Project Overmatch is a United States Navy initiative aimed at achieving a seamless and highly integrated warfighting capability by leveraging advanced data networks, artificial intelligence (AI), and machine learning. Under this contract, OPT continues to ruggedize and enhance the operational capability of its autonomous maritime technologies to support the U.S. military and its allies. The first set of exercises was concluded over the summer and the completion of these most recent exercises contributed to the revenue recognition noted above. The Company reaffirms its previously issued guidance that it believes it will reach profitability (excluding unanticipated extraordinary expenses) during the fourth quarter of calendar 2025. Performance to date reflects strong demand for products, effective cost management, and progress on our strategic initiatives. Recent achievements, including previously announced partnerships, operational milestones, successful exercises and continued customer deliveries, evidence the Company's trajectory toward achieving this stated objective. On August 12, 2024, Paragon Technologies announced via press release that its Board of Directors had resolved to terminate its shareholder campaign and all related activities targeting OPT and had terminated Hesham M. Gad as Chairman and CEO. Furthermore, on December 5, 2024, Paragon disclosed that its Audit Committee engaged legal counsel from Holland & Knight LLP to conduct an independent investigation into the conduct of Mr. Gad. These developments validate our position that the dissident shareholder campaign lacked merit. With this matter resolved, OPT can now fully focus on advancing its mission and delivering sustainable, long-term value for all shareholders. Philipp Stratmann, OPT's CEO and President, stated "I'm incredibly proud of the progress we've made this quarter. Our strategic emphasis on national security, critical infrastructure, and international market expansion continues to deliver results. This reflects not just broader macro-economic trends but our ability to penetrate diverse markets and execute for new customers. We're successfully solving problems for our customers and thus capturing a market versus creating a market while converting our expanding pipeline into revenue, driven by increasing domestic and international demand. Our ability to scale and deliver on large contracts positions us for sustained growth, and we're confident in our ability to capitalize and build on this momentum. We deliver science, not fiction. FINANCIAL HIGHLIGHTS Income Statement: Revenues for Q225 and year to date fiscal 2025 were $2.4 million and $3.7 million, respectively, an increase of 172% and 72%, respectively, over the prior year. Trailing twelve-month revenue for the period ended October 31, 2024, was $7.1 million, an 83% increase over the trailing twelve-month revenue of $3.9 million for the period ended October 31, 2023. Operating expenses for Q225 and year to date fiscal 2025 were $4.7 million and $9.6 million, respectively, a decrease of 41% and 40%, respectively, as compared to the prior year comparable periods, reflecting previously disclosed restructuring and streamlining activities. Net loss for Q225 and year to date fiscal 2025 was $3.9 million and $8.4 million, respectively, a decrease of 46% and 41%, as compared to the prior year. The year-over-year decrease in net loss was primarily driven by the decrease in operating expenses noted above. Balance Sheet and Cash Flow Combined cash, restricted cash, cash equivalents and short-term investments as of October 31, 2024, was $2.2 million, as compared to $3.3 million at April 30th, 2024. Net cash used in operating activities for the six months ended Q225 was $10.9 million, compared to $15.5 million for the same period in the prior year. This improved cash flow reflects the decrease in operating expenses noted above, partially offset by the payment of the earnout related to our autonomous vehicles business acquisition due to the business exceeding expectations CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT's financial results will be held on Tuesday December 17, 2024 at 9:00 AM EDT. Philipp Stratmann, CEO, and Bob Powers, CFO will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345. Live webcast: Webcast | Ocean Power Technologies FY2025 Q2 Earnings Conference Call (choruscall.com) Call Replay: Call replay will be available by telephone approximately two hours after the call's completion. You may access the replay by dialing 877-660-6853 from the U.S. or 201-612-7415 for international callers and using the Conference ID 13748550. Webcast Replay: The archived webcast will be on the OPT investor relations section of its website INDIVIDUAL MEETING INFORMATION In an effort to increase relations with institutional investors, OPT management has dedicated time to hosting individual meetings with portfolio managers and analysts. If you are interested in scheduling a meeting with OPT management, please contact: Email: InvestorRelations@oceanpowertech.com , or Call: 609-730-0400 x401 ABOUT OCEAN POWER TECHNOLOGIES OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets, including Merrows, which provides AI capable seamless integration of Maritime Domain Awareness Systems across platforms. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V® autonomous surface vessels (ASVs) and marine robotics services. The Company's headquarters is in Monroe Township, New Jersey, with an additional office in Richmond, California. To learn more, visit www.OceanPowerTechnologies.com . FORWARD-LOOKING STATEMENTS This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These forward-looking statements reflect the Company's current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission for further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release or to provide further interim updates in the future. Ocean Power Technologies, Inc. and Subsidiaries Consolidated Balance Sheets (in $000's, except share data) October 31, 2024 April 30, 2024 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,092 $ 3,151 Accounts receivable 1,785 796 Contract assets 86 18 Inventory 4,774 4,831 Other current assets 683 1,747 Total current assets 9,420 10,543 Property and equipment, net 3,292 3,443 Intangibles, net 3,556 3,622 Right-of-use assets, net 1,987 2,405 Restricted cash, long-term 154 154 Goodwill 8,537 8,537 Total assets $ 26,946 $ 28,704 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 351 $ 3,366 Earnout payable 400 1,130 Accrued expenses 1,428 1,787 Right-of-use liabilities, current portion 1,081 774 Contract liabilities 119 302 Total current liabilities 3,379 7,359 Deferred tax liability 203 203 Right-of-use liabilities, less current portion 1,245 1,798 Total liabilities 4,827 9,360 Commitments and contingencies (Note 14) Shareholders' Equity: Preferred stock, $0.001 par value; authorized 5,000,000 shares, none issued or outstanding; 100,000 designated as Series A — — Common stock, $0.001 par value; authorized 200,000,000 shares, issued 124,683,555 shares and 61,352,731 shares, respectively; outstanding 124,595,538 shares and 61,264,714 shares, respectively 125 61 Treasury stock, at cost; 88,017 and 88,017 shares, respectively (369 ) (369 ) Additional paid-in capital 338,352 327,276 Accumulated deficit (315,944 ) (307,579 ) Accumulated other comprehensive loss (45 ) (45 ) Total shareholders' equity 22,119 19,344 Total liabilities and shareholders' equity $ 26,946 $ 28,704 Ocean Power Technologies, Inc. and Subsidiaries Consolidated Statements of Operations (in $000's, except per share data) Three months ended October 31, Six months ended October 31, 2024 2023 2024 2023 Revenues $ 2,418 $ 889 $ 3,719 $ 2,161 Cost of revenues 1,623 401 2,477 1,010 Gross margin 795 488 1,242 1,151 Operating expenses 4,710 7,995 9,630 16,100 Gain from change in fair value of consideration — (23 ) — (86 ) Operating loss (3,915 ) (7,484 ) (8,388 ) (14,863 ) Interest income, net 3 270 7 610 Other income — — 17 — Foreign exchange gain (1 ) 1 (1 ) 1 Loss before income taxes (3,913 ) (7,213 ) (8,365 ) (14,252 ) Income tax benefit — — — — Net loss (3,913 ) (7,213 ) (8,365 ) (14,252 ) Basic and diluted net loss per share $ (0.04 ) $ (0.12 ) $ (0.09 ) $ (0.24 ) Weighted average shares used to compute basic and diluted net loss per common share 108,396,875 58,781,505 95,173,938 58,752,291 Ocean Power Technologies, Inc. and Subsidiaries Consolidated Statements of Cash Flows (in $000's) Unaudited Six months ended October 31, 2024 2023 Cash flows from operating activities: Net loss $ (8,365 ) $ (14,252 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation of fixed assets 456 172 Foreign exchange (loss)/gain (1 ) 1 Loss on disposal of property and equipment 111 — Amortization of intangible assets 66 80 Noncash lease expense 418 201 Accretion of discount on investments — (211 ) Change in contingent consideration liability — (86 ) Share-based compensation 551 673 Changes in operating assets and liabilities: Accounts receivable (989 ) 229 Contract assets (68 ) (174 ) Inventory (231 ) (1,502 ) Other assets 1,064 (511 ) Accounts payable (3,015 ) 802 Earnout payable (100 ) (500 ) Accrued expenses (359 ) (2 ) Right-of-use liabilities (245 ) (201 ) Contract liabilities (183 ) (214 ) Net cash used in operating activities $ (10,890 ) $ (15,495 ) Cash flows from investing activities: Redemptions of short-term investments — 20,600 Purchases of short-term investments — (8,026 ) Purchases of property and equipment (128 ) (698 ) Net cash (used in)/provided by investing activities $ (128 ) $ 11,876 Cash flows from financing activities: Cash paid for tax withholding related to shares withheld $ — (2 ) Proceeds from issuance of common stock - At The Market offering, net of issuance costs 7,508 $ 29 Proceeds from issuance of common stock - Capital Raise, net of issuance costs 2,451 Net cash provided by financing activities $ 9,959 $ 27 Net decrease in cash, cash equivalents and restricted cash $ (1,059 ) $ (3,592 ) Cash, cash equivalents and restricted cash, beginning of period $ 3,305 $ 7,103 Cash, cash equivalents and restricted cash, end of period $ 2,246 $ 3,511 Supplemental disclosure of noncash investing and financing activities: Common stock issued related to bonus and earnout payments $ 630 $ 1,250 © 2024 Benzinga.com. 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ROANOKE, Va., Nov. 22, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of RGC Resources, Inc. RGCO , at its meeting on November 22, 2024, declared a quarterly dividend of $0.2075 per share on the Company's common stock. The indicated annual dividend is $0.83 per share, a $0.03, or 3.8%, per share increase over the prior annual level. The Company has now increased the annual dividend 21 consecutive years. Paul Nester, CEO of RGC Resources, Inc., stated, "The Roanoke Gas utility continues to deliver solid operational and financial performance. Further, we are pleased that the MVP was completed in 2024 and now delivering affordable, reliable natural gas to Southwest Virginia. This dividend increase, our 21 st annual increase, reflects our commitment to deliver long-term shareholder value." The dividend will be paid on February 1, 2025 to shareholders of record on January 17, 2025. This is the Company's 323 rd consecutive quarterly cash dividend. RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries including Roanoke Gas Company and RGC Midstream, L.L.C. The statements in this release that are not historical facts constitute "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results and experience to differ materially from any expectations expressed in the Company's forward-looking statements, regarding customer growth, infrastructure investment and margins. These risks and uncertainties include gas prices and supply, geopolitical considerations and regulatory and legal challenges and those set forth in the Company's Form 10-Q for the quarter ended June 30, 2024 and Item 1-A in the Company's fiscal 2023 10-K. Forward-looking statements reflect the Company's current expectations only as of the date they are made. The Company assumes no duty to update these statements should expectations change or actual results differ from current expectations except as required by applicable laws and regulations. Past performance is not necessarily a predictor of future results. Contact: Timothy J. Mulvaney VP, Treasurer and CFO Telephone: 540-777-3997 © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Fast, Rewritable Computing with DNA Origami Registers

West Ham's Antonio in hospital after road traffic incident LONDON (AP) — West Ham forward Michail Antonio was taken to hospital after being involved in a road traffic incident on Saturday. West Ham added the 34-year-old player was in a stable condition. Canadian Press Dec 7, 2024 10:35 AM Dec 7, 2024 11:05 AM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message West Ham United's Michail Antonio, right, and Newcastle United's Joelinton, left, challenge for the ball during the English Premier League soccer match between Newcastle United and West Ham United in Newcastle, England, Monday, Nov. 25, 2024. (Richard Sellers/PA via AP) LONDON (AP) — West Ham forward Michail Antonio was taken to hospital after being involved in a road traffic incident on Saturday. West Ham added the 34-year-old player was in a stable condition. “Michail is conscious and communicating and is currently under close supervision at a central London hospital," the Premier League club said in a statement. “At this difficult time, we kindly ask everyone to respect the privacy of Michail and his family. “The club will make no further comment this evening, but will issue a further update in due course.” Unverified images of a heavily damaged Ferrari in the Essex area were shared on social media on Saturday. It was not known if it was the car involved in the accident. Antonio signed for West Ham in 2015 and has made more than 300 appearances. West Ham doesn't have a league game until Monday. ___ James Robson is at https://twitter.com/jamesalanrobson ___ AP soccer: https://apnews.com/hub/soccer The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up More Soccer Flick sent off for protesting penalty in Barcelona draw at Betis Dec 7, 2024 10:50 AM Musiala strikes twice to help Bayern end mini-skid without the injured Kane Dec 7, 2024 10:38 AM Monaco beats Toulouse and is five points behind Ligue 1 leader PSG Dec 7, 2024 10:31 AMNewport News-based ivWatch receives accolades for life-saving technology

( MENAFN - IANS) Mumbai, Dec 17 (IANS) North-East is India's gateway to the South and investing in the region will give investors access to the vast Southeast Asian markets, Union Minister for Communications and Development of North Eastern Region (DoNER), Jyotiraditya Scindia, has said. Speaking at the 'North East Trade and investment Roadshow' here, the minister emphasised the region's immense potential, which now stands ready to contribute to India's growth with an impressive 11 per cent GDP growth rate. “The development of infrastructure, human resources, and specialised sectors has positioned North-East India as a key player in the nation's future,” he added. The Union Minister emphasised the importance of building bridges between the vibrant business ecosystems of Mumbai and North-East, thereby ensuring a seamless path for growth and innovation. The minister further outlined the region's progress in various sectors, including tourism, renewable energy, sports and IT, and emphasised the need for a focused quality-driven approach for development of the region. He assured investors that the region's youth, high literacy rates, and abundant natural resources make it an ideal destination for investment, particularly in areas like sustainable agriculture, manufacturing, and technology. “With policies in place to support business growth and a commitment to reducing red tape, North-East India is now offering a red carpet to investors, which will contribute to the growth of India, especially its youth,” said Scindia. Tripura Chief Minister Professor (Dr) Manik Saha reaffirmed that under the leadership of Prime Minister Narendra Modi, the North-East region, particularly Tripura, is witnessing remarkable growth. Tripura, recognised as one of the most peaceful states, has demonstrated impressive economic performance with a per capita income of Rs 1,77,000, making it the second-largest GSDP contributor in North-East. With robust infrastructure, including excellent road, water, air, and rail connectivity, and a supportive investment climate, the state is becoming a preferred destination for investors. Meghalaya Chief Minister Conrad K Sangma said the state is witnessing transformative growth, driven by strong leadership with a focused investment and development strategy. “Under the guidance of PM Modi, the state has developed investor-friendly policies and attracted significant responses, particularly in sectors like tourism, food processing and infrastructure, he added. -IANS na/ MENAFN16122024000231011071ID1109000319 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

HeartSciences Provides Business Update and Reports Second Quarter Fiscal 2025 Financial ResultsDespite a resounding defeat at the hands of Ronald Reagan in 1980, the Democrat forged a new path promoting causes such as electoral probity abroad, social justice and drives to rid the world of medical conditions. His first foreign visit as president was to the UK where then prime minister James Callaghan, as well as the usual visits in London, took his guest to the North East with a visit to Newcastle, Sunderland and Washington – the village bearing the name of the first ever president. Mr Carter delighted crowds in the North East by saying “Howay the lads” during a speech to the assembled throng. He also received a miner’s lamp from 12-year-old Ian McEree in Washington. The 39th US president also carried out more traditional presidential duties, including meetings with western European leaders during his time in London while the Cold War was still ongoing. The practising Baptist continued his globetrotting ways after leaving power, even without Air Force One as his vehicle. He was also part of the Elders, a group of experienced statesmen and women drawn from all corners of the world.CENTURION: South Africa tailenders Kagiso Rabada and Marco Jansen hung in against relentless fast bowler Mohammad Abbas for a tense two-wicket win in the first test on Sunday to seal the Proteas' place in next year's World Test Championship final . ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for Jansen (16 not out) overshadowed Abbas' brilliant figures of 6-54 with a square driven boundary against the fast bowler as South Africa reached 150-8 just after lunch on Day 4 and escaped with a close win in the opener of the two-match series. "Quite an emotional moment for me, good advert for test cricket," said South Africa captain Temba Bavuma , who made 40. "We haven't been ruthless but have found a way to ensure the result was on our side. Lot of joy and happiness on our side, a bit of a rollercoaster, glad that we were able to get the result." Abbas, making a comeback after more than three years in the test wilderness, had knocked back South Africa's tricky chase of 148 runs in a marathon 13-over spell before lunch on Day 4 as the home team limped to 99-8, losing four wickets for three runs. However, Rabada changed gears in an unbroken 51-run stand with Jansen and made an unbeaten 31 off 26 balls with five fours to seal a memorable victory and denied Pakistan its first test win in South Africa in almost 18 years. 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But since then the Proteas have beaten West Indies, Bangladesh and Sri Lanka to stay on top of the table. "It (WTC final) is a big one, not just for myself but also the team and the coach," Bavuma said. "The way we started our campaign, against India and then New Zealand with a not-so-strong team, and the way we have gone through with our performances, not many gave us a chance." India, Australia and Sri Lanka are the other teams still in contention for next June's WTC final against South Africa at Lord's. Captain Temba Bavuma (40) and Aiden Markram (37) had thwarted Abbas for an hour after South Africa resumed at a wobbly 27-3, still needing 121 for victory. Bavuma's controversial dismissal punctuated a South Africa collapse in the latter half of first session with Abbas grabbing three off his six balls in a sensational home team collapse. Bavuma, who made 40, surprisingly didn't request a television review when replays suggested that Abbas' ball had brushed the batter's pocket and didn't make contact with the inside edge of the bat but the South African skipper walked back to the dressing room. Abbas bowled an unchanged marathon spell of 13 overs, but had to wait as Markram and Bavuma saw off eight overs from the fast bowlers. Resuming at 27-3, Bavuma and Markram showed plenty of patience against Abbas' probing line and length before the fast bowler finally got the breakthrough after the first drinks break. Abbas was rewarded for his brilliant seam bowling when he beat the outside edge of Markram's bat and knocked back the off stump. Bavuma survived a couple of close chances when he successfully overturned an on-field lbw decision against him early in the day and Naseem Shah couldn't hold onto a sharp catch at fine leg as he overstepped the boundary cushion while grabbing the ball over his head. South Africa had controlled the game at 96-4 before Bavuma's dismissal saw Abbas finding the outside edges of David Bedingham (14) and Corbin Bosch's (0) bat off successive deliveries and in between Kyle Verreynne dragged Naseem Shah's delivery back onto his stumps. Abbas found the outside edge of Rabada's bat in his first over after lunch that fell just short of wicketkeeper Rizwan before both tailenders took the team home. "Extremely proud of the efforts, but going forward we need to be ruthless," Pakistan captain Shan Masood said. "We keep making the same mistakes but we have to get over the line, seize moments." The second test begins at Cape Town on Friday. (You can now subscribe to our Economic Times WhatsApp channel )

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Want Decades of Passive Income? 3 Stocks to Buy Now and Hold ForeverNEW YORK (AP) — U.S. stock indexes drifted amid mixed trading Monday, ahead of this week’s upcoming meeting by the Federal Reserve that could set Wall Street’s direction into next year. The S&P 500 rose 0.4%, coming off its first losing week in the last four . The Nasdaq composite climbed 1.2% to a record, while the Dow Jones Industrial Average was a laggard and fell 110 points, or 0.3%. Broadcom leaped 11.2% to help lead the S&P 500 for a second straight day after delivering a profit report last week that beat analysts’ expectations. The technology company is riding a wave of enthusiasm about its artificial-intelligence offerings in particular. The market’s main event, though, will arrive on Wednesday when the Federal Reserve will announce its last move on interest rates for the year. The widespread expectation is that it will cut its main rate for a third straight time, as it tries to boost the slowing job market after getting inflation nearly all the way down to its target of 2%. The question is how much more it will cut rates next year, and Fed officials will release projections for where they see the federal funds rate ending 2025, along with other economic indicators, once their meeting concludes. Fed Chair Jerome Powell will also answer questions in a press conference following the meeting. For now, the general expectation among traders is that the Fed may cut a couple more times in 2025, according to data from CME Group. But such expectations have been shrinking following reports suggesting inflation may be tougher to get all the way down to 2% from here. Besides last month’s slight acceleration in inflation, another worry is that President-elect Donald Trump’s preferences for tariffs and other policies could lead to higher inflation down the line. Goldman Sachs economist David Mericle has dropped his earlier forecast of a cut by the Fed in January, for example. Beyond the possibility of tariffs, he said Fed officials may also want to slow their cuts because of uncertainty about exactly how low rates need to go so that they no longer press the brakes on the economy. Expectations for a series of cuts to rates by the Fed have been one of the main reasons the S&P 500 has set an all-time high 57 times so far this year and is heading for one of its best years of the millennium . The economy has held up better than many feared, continuing to grow even after the Fed hiked the federal funds rate to a two-decade high in hopes of grinding down on inflation, which topped 9% two summers ago. On Wall Street, MicroStrategy jumped as much as 7% during the day as it continues to benefit from the surging price for bitcoin , which set another all-time high. But its stock ended the day down by les than 0.1% after bitcoin’s price pulled back below $106,000 after setting a record above $107,700, according to CoinDesk. The software company has been building its hoard of the cryptocurrency, and its stock price has more than sextupled this year. It will also soon join the Nasdaq 100 index. Bitcoin’s price has catapulted from roughly $44,000 at the start of the year, riding a recent wave of enthusiasm that Trump will create a system that’s more favorable to digital currencies . Honeywell rose 3.7% after saying it’s still considering a spin-off or sale of its aerospace business, as part of a review of its overall business. It said it plans to give an update with the release of its fourth-quarter results. They helped offset a drop for Nvidia, whose chips are powering much of the world’s move into AI. Its stock fell 1.7%. Because it’s grown so massive, with a total value topping $3 trillion, it was the single heaviest weight on the S&P 500. All told, the S&P 500 rose 22.99 points to 6,074.08. The Dow Jones Industrial Average fell 110.58 to 43,717.48, and the Nasdaq composite rose 247.17 to 20,173.89. In the bond market, Treasury yields held relatively steady. The yield on the 10-year Treasury edged down to 4.39% from 4.40% late Friday. The two-year yield, which more closely tracks expectations for the Fed, eased to 4.24% from 4.25%. In stock markets abroad, indexes fell modestly across much of Europe and Asia. They sank 0.9% in Hong Kong and 0.2% in Shanghai after China reported lackluster economic indicators for November despite attempts to strengthen the world’s second-largest economy. South Korea’s Kospi fell 0.2% as law enforcement authorities pushed to summon impeached President Yoon Suk Yeol for questioning over his short-lived martial law decree, and the Constitutional Court met to discuss whether to remove him from office or reinstate him. ___ AP Business Writer Elaine Kurtenbach contributed. Stan Choe, The Associated Press

As I See It: Six reasons why Trump won againIf the Indianapolis Colts Week 12 loss to the Detroit Lions wasn't enough, the NFL made it even worse for Anthony Richardson. With the news of the NFL hitting the Colts starting quarterback with a hefty fine. The NFL fined #Colts QB Anthony Richardson $22,511 for unnecessary roughness (use of the helmet) — lowering his head into #Lions DB Brian Branch last week. pic.twitter.com/mJF5NuqiM7 Anthony Richardson fined by the NFL for a play from the Colts Week 12 loss to the Lions The NFL announced that it has fined Richardson $22,511.00 for using his helmet on a run to run over Lions defensive back Brian Branch , which the league deemed "Unnecessary Roughness." I've watched the play over and over before writing this article, and I still can't stop laughing at the hypocrisy on display by the NFL. The NFL literally has a show that gives out an award weekly for a ball carrier who displays the angriest run of the week. That award is the Angry Run Sceptor from Kyle Brandt of NFL Network's "Good Morning Football" show. And now Richardson is being fined the price of a new car for some people due to lowering his head to brace for impact while he runs a player over. A play that is praised on the field is now costing players a significant amount of money. Richardson's fine is tied for the largest of 16 fines handed out by the NFL this week and the seventh most expensive fine given out by the league all season long. The player Richardson ran knows all too well about the league's ridiculousness on fines this season, with him racking up roughly $50,000.00 so far. The NFL stands for the "National Football League," but nowadays, it seems like it could easily stand for "No Fun League." This article first appeared on A to Z Sports and was syndicated with permission.