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NEW YORK (AP) — Technology stocks pulled Wall Street to another record amid mixed trading. The S&P 500 rose 0.2% Monday after closing November at an all-time high. The Dow Jones Industrial Average fell 0.3%, and the Nasdaq composite gained 1%. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared after saying an investigation found no evidence of misconduct by its management or the company’s board. Retailers were mixed coming off Black Friday and heading into what’s expected to be the best Cyber Monday on record. Treasury yields held relatively steady in the bond market. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — Technology stocks are pulling Wall Street toward another record amid mixed trading on Monday. The S&P 500 rose 0.2% in afternoon trading after closing its best month of the year at an all-time high . The Dow Jones Industrial Average was down 86 points, or 0.2%, with a little more than an hour remaining in trading, while the Nasdaq composite was 0.9% higher. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 31.1% to lead the market. Following accusations 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 2.9% 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 1.1% 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. Stellantis, meanwhile, skidded following the announcement of its CEO’s departure . Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships. The world’s fourth-largest automaker’s stock fell 6.3% in Milan. The majority of stocks in the S&P 500 likewise fell, including California utility PG&E. It dropped 3.7% 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, which recently gave a forecast for the holiday season that left investors discouraged , fell 1.6%. Walmart , which gave a more optimistic forecast, rose 0.3%. Amazon, which looks to benefit from online sales from Cyber Monday, climbed 1.3%. 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 dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close. 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 climbed above 4.23% during the morning before falling back to 4.19%. That was just above its level of 4.18% late Friday. A report in the morning showed the U.S. manufacturing sector contracted again last month, but not by as much as economists expected. This upcoming week will bring several big updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report. They could steer the next moves for Federal Reserve, which recently began pulling interest rates lower to give support to the economy. Economists expect Friday's headliner report to show U.S. employers accelerated their hiring in November, coming off October's lackluster growth that was hampered by damaging hurricanes and strikes. “We now find ourselves in the middle of this Goldilocks zone, where economic health supports earnings growth while remaining weak enough to justify potential Fed rate cuts,” according to Mark Hackett, chief of investment research at Nationwide. In financial markets abroad, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump’s inauguration next month. Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office. Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.AMGEN TO PRESENT AT CITI'S 2024 GLOBAL HEALTHCARE CONFERENCE
Former CytoDyn chief executive guilty in plot to defraud investorsTetairoa McMillan, one of the best wide receivers in Arizona history, will skip his final year of eligibility and enter the 2025 NFL Draft, he announced on social media on Thursday. Projected as a top-10 draft pick, the 6-foot-5, 212-pound McMillan finished his illustrious career at Arizona with 3,423 receiving yards, breaking the mark set by Bobby Wade (3,351). In three seasons, the Hawaii native also posted the fourth-most catches (213) and third-most touchdowns (26) in school history. "Wildcat Nation, this journey has been everything I dreamed of and more," McMillan wrote on Instagram. "From the moment I committed to the University of Arizona, to every second spent wearing that Arizona jersey ... it's been an absolute honor. "The University of Arizona has provided me with the platform to grow and chase my dreams. ... Thank you from the bottom of my heart. To the best fans in the country, I appreciate you for all of the love and support you have given me these last 3 years. I will always be a Wildcat." In 2024, McMillan totaled 84 grabs (ninth in Division I) for 1,319 yards (third in Division I) and eight touchdowns for the 4-8 Wildcats. He also ranked third in Division I with 109.9 receiving yards per game. McMillan is a finalist for the Biletnikoff Award, given to the most outstanding receiver in college football. --Field Level Media
Life would be easier if batteries charged in seconds, stored more energy, lasted longer, and were overall safer to use. As such, highly efficient solid-state batteries are currently a hot topic in the field, with many car companies even promising to offer them in future vehicles. A diverse team of international researchers has conducted a comprehensive analysis to unveil new insights regarding a key correlation between and ionic conductivity of sodium superionic conductors (NASICON). These findings, in , could help design future studies that can propel modern energy technology forwards. NASICON is a with high levels of conductivity, making it well-suited for energy applications such as batteries. Balancing their mechanical properties and their ionic conductivity is crucial to maximize performance, stability, and safety. For example, some changes may boost ionic conductivity but have a negative impact on the structural integrity, making NASICON less stable. There must be a delicate balance between all the properties to reach a "Goldilocks" level of synergy. "We found that the most important factor was the relative density," explains Eric Jianfeng Cheng of Tohoku University, "When we increased NASICON's relative density, it not only improved ionic conductivity, but as well. It was a win-win situation." Based on their experimental results and an extensive review of existing studies, the researchers recommend using advanced sintering techniques―processes that apply heat to reshape and reform solid materials, such as spark plasma sintering (SPS)―to achieve a high relative density in sodium superionic conductors. By doing so, defects such as pores and other imperfections can be effectively reduced. In comparison, altering other key factors such as secondary phases and crystal structure would lead to significant trade-offs. Increasing reduces grain boundary resistance, thereby boosting ionic , but may compromise mechanical integrity due to increased porosity. Similarly, the formation of secondary phases can strengthen the material mechanically, but often hinders ionic transport. The study established that improving relative density uniquely supports concurrent enhancements in both ionic and mechanical properties, a synergy not observed with other factors. This relationship extends to other oxide-based solid electrolytes, such as garnet Li La Zr O (LLZO), demonstrating the broader relevance of these findings. By providing a clear framework for optimizing both mechanical and ionic properties, this research may aid the development of high-performance, , positioning NASICON as a promising material for next-generation energy storage technologies.Howmet Aerospace Inc. stock outperforms competitors on strong trading dayGameStop Sales Drop 20% From Last Year. The Stock Is Still Rising.
NEW YORK (AP) — Technology stocks pulled Wall Street to another record amid mixed trading. The S&P 500 rose 0.2% Monday after closing November at an all-time high. The Dow Jones Industrial Average fell 0.3%, and the Nasdaq composite gained 1%. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared after saying an investigation found no evidence of misconduct by its management or the company’s board. Retailers were mixed coming off Black Friday and heading into what’s expected to be the best Cyber Monday on record. Treasury yields held relatively steady in the bond market. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — Technology stocks are pulling Wall Street toward another record amid mixed trading on Monday. The S&P 500 rose 0.2% in afternoon trading after closing its best month of the year at an all-time high . The Dow Jones Industrial Average was down 86 points, or 0.2%, with a little more than an hour remaining in trading, while the Nasdaq composite was 0.9% higher. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 31.1% to lead the market. Following accusations 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 2.9% 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 1.1% 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. Stellantis, meanwhile, skidded following the announcement of its CEO’s departure . Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships. The world’s fourth-largest automaker’s stock fell 6.3% in Milan. The majority of stocks in the S&P 500 likewise fell, including California utility PG&E. It dropped 3.7% 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, which recently gave a forecast for the holiday season that left investors discouraged , fell 1.6%. Walmart , which gave a more optimistic forecast, rose 0.3%. Amazon, which looks to benefit from online sales from Cyber Monday, climbed 1.3%. 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 dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close. 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 climbed above 4.23% during the morning before falling back to 4.19%. That was just above its level of 4.18% late Friday. A report in the morning showed the U.S. manufacturing sector contracted again last month, but not by as much as economists expected. This upcoming week will bring several big updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report. They could steer the next moves for Federal Reserve, which recently began pulling interest rates lower to give support to the economy. Economists expect Friday's headliner report to show U.S. employers accelerated their hiring in November, coming off October's lackluster growth that was hampered by damaging hurricanes and strikes. “We now find ourselves in the middle of this Goldilocks zone, where economic health supports earnings growth while remaining weak enough to justify potential Fed rate cuts,” according to Mark Hackett, chief of investment research at Nationwide. In financial markets abroad, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump’s inauguration next month. Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office. Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.SAN JOSE, Calif., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Nutanix, Inc. (“Nutanix”) (Nasdaq: NTNX), a leader in hybrid multicloud computing, today announced its intention to offer, subject to market conditions and other factors, $750 million aggregate principal amount of convertible senior notes due 2029 (the “notes”) in a private placement (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Nutanix also expects to grant the initial purchasers of the notes an option to purchase up to an additional $112.5 million aggregate principal amount of the notes within a 13-day period from, and including, the initial issuance date of the notes. The notes will be unsecured senior obligations of Nutanix. Interest will be payable semi-annually in arrears. The notes will mature on December 15, 2029, unless earlier converted, redeemed, or repurchased. The notes will be convertible at the option of holders, subject to certain conditions and during certain periods. Upon conversion, the notes may be settled in cash, shares of Nutanix’s Class A common stock or a combination of cash and shares of Nutanix’s Class A common stock, at Nutanix’s election. The interest rate, initial conversion rate and other terms of the notes are to be determined at the time of the pricing of the offering. Nutanix intends to use the net proceeds from the offering to (i) repurchase a portion of its outstanding 0.25% Convertible Senior Notes due 2027 (the “2027 notes”) concurrently with the pricing of the offering in separate and privately negotiated transactions with certain holders of its 2027 notes (the “concurrent note repurchases”) effected through one of the initial purchasers of the notes or its affiliate, acting as Nutanix’s agent, and (ii) repurchase up to $200.0 million of shares of Nutanix’s Class A common stock in privately negotiated transactions with institutional investors effected through one of the initial purchasers of the notes or its affiliate, acting as Nutanix’s agent, at a price per share equal to the last reported sale price of Nutanix’s Class A common stock on the Nasdaq Global Select Market on the date of the pricing of the notes (the “Share Repurchase”). Any such Share Repurchase would not reduce the amount available for future repurchases under Nutanix’s existing share repurchase program. Nutanix intends to use the remaining net proceeds from the offering for general corporate purposes, including working capital, capital expenditures and potential acquisitions. From time to time, Nutanix evaluates potential acquisitions of businesses, technologies or products. Currently, however, Nutanix does not have any understandings or agreements with respect to any acquisitions. The terms of the concurrent note repurchases are anticipated to be individually negotiated with each holder of the 2027 notes participating in the concurrent note repurchases, and will depend on several factors, including the market price of Nutanix’s Class A common stock and the trading price of the 2027 notes at the time of each such concurrent note repurchase. Certain holders of any 2027 notes that Nutanix agrees to repurchase may have hedged their equity price risk with respect to such 2027 notes and may, concurrently with the pricing of the notes, unwind all or part of their hedge positions by buying Nutanix’s Class A common stock and/or entering into or unwinding various derivative transactions with respect to Nutanix’s Class A common stock. Any repurchase of the 2027 notes, and the potential related market activities by holders of the 2027 notes participating in the concurrent note repurchases, together with the repurchase by Nutanix of any of its Class A common stock concurrently with the pricing of the notes, could increase (or reduce the size of any decrease in) the market price of Nutanix’s Class A common stock, which may affect the trading price of the notes at that time and the initial conversion price of the notes. Nutanix cannot predict the magnitude of such market activity or the overall effect it will have on the price of the notes or its Class A common stock. No assurance can be given as to how much, if any, of the 2027 notes or the Class A common stock will be repurchased or the terms on which they will be repurchased. Neither the notes nor the shares of Nutanix’s Class A common stock potentially issuable upon conversion of the notes, if any, have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, such registration requirements. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful. About Nutanix Nutanix is a global leader in cloud software, offering organizations a single platform for running applications and managing data, anywhere. With Nutanix, companies can reduce complexity and simplify operations, freeing them to focus on their business outcomes. Building on its legacy as the pioneer of hyperconverged infrastructure, Nutanix is trusted by companies worldwide to power hybrid multicloud environments consistently, simply, and cost-effectively. Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Nutanix’s financing plans, Nutanix’s ability to complete the offering, the timing and size of the offering, the concurrent note repurchases and the Share Repurchase, Nutanix’s intended use of the net proceeds of the offering. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, whether Nutanix will be able to consummate the offering, the final terms of the offering, the satisfaction of customary closing conditions with respect to the offering of the notes, prevailing market conditions, the anticipated use of the net proceeds of the offering of the notes, which could change as a result of market conditions or for other reasons, and the impact of general economic, industry or political conditions in the United States or internationally. Forward-looking statements may be identified by the use of the words “may,” “will,” “expect,” “intend,” and other similar expressions. These forward-looking statements are based on estimates and assumptions by Nutanix’s management that, although believed to be reasonable, are inherently uncertain and subject to a number of risks. Actual results may differ materially from those anticipated or predicted by Nutanix’s forward-looking statements. All forward-looking statements are subject to other risks detailed in Nutanix’s Annual Report on Form 10-K for the fiscal year ended July 31, 2024, and the risks discussed in Nutanix’s other filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Nutanix undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof, except as required by applicable law. © 2024 Nutanix, Inc. All rights reserved. Nutanix, the Nutanix logo, and all Nutanix product and service names mentioned herein are registered trademarks or unregistered trademarks of Nutanix, Inc. (“Nutanix”) in the United States and other countries. Other brand names or marks mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). This press release is for informational purposes only and nothing herein constitutes a warranty or other binding commitment by Nutanix. Investor Contact: Richard Valera ir@nutanix.com Media Contact: Lia Bigano pr@nutanix.com
China ends planning meeting with vows to stabilize its economy, but gives no details on stimulus
Business combination closed November 13, 2024 Raised $10 million of gross proceeds in connection with the business combination Agreements are in place with Yorkville for up to a $50 million standby equity purchase agreement, to raise an additional $2 million in debt financing and the sale of up to 500,000 shares of common stock pursuant to forward purchase agreement Financing will support advancement of Abpro's pipeline of its next-generation antibody therapies for cancer, ophthalmology, and infectious diseases WOBURN, Mass., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Abpro Holdings, Inc. ABP ("Abpro"), a biotech company with the mission of improving the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies, celebrated the closing of its business combination with Atlantic Coastal Acquisition Corp II ("ACAB"), a special purpose acquisition company, with a Nasdaq bell ringing ceremony. Abpro also celebrated the consummation of a PIPE offering raising $7 million in gross proceeds and a $2.76 million convertible note financing with YA II PN, LTD ("Yorkville") to cover expenses in connection with the closing of the business combination. As previously announced, Abpro also has entered into a Standby Equity Purchase Agreement with Yorkville (the "SEPA") pursuant to which Abpro has the right, but not the obligation, to issue up to $50 million in shares of its common stock to Yorkville upon registration of such shares, provided that no balance is outstanding on any promissory note to Yorkville (currently $3 million dollars outstanding). Among other restrictions and conditions set forth in the SEPA, the number of shares Abpro may request may not exceed the average of the daily traded amount of its shares of common stock during the five consecutive trading days preceding such request, and shall not cause Yorkville's ownership to exceed 4.99% of the then outstanding common stock of Abpro, and the maximum amount of shares issued under the SEPA cannot exceed 19.99% of the outstanding common stock of Abpro without prior shareholder approval. Upon registration of the shares subject to the SEPA, Abpro has the right to receive financing for an additional $2 million. As previously announced, Abpro also has entered into a forward purchase agreement for the sale of up to 500,000 shares of common stock. Abpro believes that the various financings should significantly improve Abpro's financial flexibility as it advances the development of its pipeline of its next-generation antibody therapies. "Becoming a public company represents a major milestone in our journey to provide solutions for patients with difficult-to-treat oncology and ophthalmology indications," said Ian Chan, CEO and co-founder of Abpro. "The funds are expected to help accelerate the advancement of our pipeline to clinical trials. The financing will also provide the foundation for ongoing development of novel immunotherapies and next-generation antibody treatments in our pipeline with the aim of improving the lives of patients in need." Abpro is advancing its pipeline of next-generation antibody therapies for HER2+ breast, gastric, and colorectal cancers, non-HER2+ gastric and liver cancer, wet age-related macular degeneration (AMD) and diabetic macular edema (DME), and infectious diseases. These next-generation antibodies are developed using Abpro's proprietary DiversImmune® platform, which creates antibody therapies against traditionally difficult targets. Abpro has partnered with Celltrion , a leading South Korean pharmaceutical company, in an exclusive global collaboration to further advance ABP 102, a T-cell engager, which is being developed for the treatment of HER2+ breast, gastric, and pancreatic cancers. Soo Young Lee, Senior Vice President and Head of the New Drug Division of Celltrion Inc. and a member of Abpro's Board of Directors, remarked, "Abpro's ABP 102 drug candidate has shown preclinical data indicating the potential for better efficacy and less toxicity. We look forward to working closely with Abpro to advance ABP 102 into clinical trials." Tony Eisenberg, who serves as a Director of Abpro, and had served as Chief Strategy Officer of ACAB prior to the business combination, added, "It's an honor to be part of Abpro and the groundbreaking work they are doing. The Atlantic Coastal team is excited to have successfully completed this business combination with Abpro and to work with the Abpro management team to execute their long-term operational and strategic objectives as they develop next-generation antibody therapies with the potential to save lives and generate real return for investors." Abpro's Chairperson, Miles Suk, stated, "As the chairperson of the board, I am honored to guide Abpro through this landmark achievement. This listing marks a new chapter of growth and opportunity, and we remain committed to delivering sustainable value to our shareholders." About Abpro Abpro's mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro is advancing a pipeline of next-generation antibody therapies, for HER2+ breast, gastric, and colorectal cancers, non-HER2+ gastric and liver cancer, wet age-related macular degeneration (AMD) and diabetic macular edema (DME), and infectious diseases. These antibodies are developed using Abpro's proprietary DiversImmune® platform. Abpro has partnered with Celltrion, which is a leading South Korean biotechnology company, ranked top 25 in the world by market capitalization, in an exclusive collaboration to further advance ABP 102, a T-cell engager, which is being developed for the treatment of HER2+ breast, gastric, and pancreatic cancer. Abpro is located in Woburn, Massachusetts. For more information, please visit www.abpro.com . Forward Looking Statements This press release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "aim," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; Abpro's ability to raise additional capital; the outcome of judicial proceedings to which Abpro or its subsidiaries is, or may become a party; failure to realize the anticipated benefits of the Business Combination, including difficulty in, or costs associated with, integrating the businesses of ACAB and Abpro; risks related to the rollout of Abpro's business and the cost and timing of expected business milestones; the effects of competition on Abpro's future business; and those factors discussed in Abpro's public filings under the heading "Risk Factors," and other documents of Abpro filed, or to be filed, with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the "Risk Factors" section of Abpro's public filings and other documents to be filed by Abpro from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Abpro may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Abpro does not give any assurance that Abpro will achieve its expectations. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Police became convinced they were investigating a crime in the disappearance of University of Mississippi student when they interviewed the man now on trial in his death, a top officer testified Tuesday. Lee had been missing for two weeks when officers arrested on July 22, 2022, said Oxford Police Chief Jeff McCutchen. Authorities interviewed Herington twice that day, and he gave conflicting information about the hours before Lee vanished, the chief said. “From the moment that we gave Tim Herrington the opportunity to tell the truth and he couldn’t and he lied and we backed that up, we knew then,” McCutchen said. Herrington, 24, is being tried on a capital murder charge in the death of Lee, 20, a gay man who was well known in the LGBTQ+ community at Ole Miss and in Oxford. in Oxford, where is in its second week. Prosecutors and the defense both called their final witnesses Tuesday, and did not testify. Closing arguments are set for Wednesday. Lee’s body has never been found, but a judge has declared him dead. Herrington maintains his innocence and his attorney, Kevin Horan, told jurors last week that prosecutors have “zero” proof Lee was killed. Lee has not contacted friends or family, and his financial transactions and once-prolific social media posts have stopped since the day he went missing, investigators testified. Before officers interviewed Herrington, they had already obtained sexually explicit text messages exchanged between social media accounts belonging to Herrington and Lee in the early hours of July 8, 2022, when Herrington disappeared in Oxford, McCutchen said. Lee communicated with his mother daily, and sent his last message to her hours before he vanished to wish her happy birthday, according to earlier testimony. Google records obtained through a warrant showed that Herrington searched “how long does it take to strangle someone” at 5:56 a.m., University Police Department Sgt. Benjamin Douglas testified last week. The final text message from Lee’s phone was sent to a social media account belonging to Herrington at 6:03 a.m. from a spot near Herrington’s apartment, and cellphone tower in another part of Oxford last located any signal from Lee’s phone at 7:28 a.m., McCutchen said Tuesday. A security camera showed Herrington jogging at about 7:30 a.m. out of a parking lot where Lee’s car was abandoned, investigators testified earlier. “We’ve been looking for Jay Lee’s body for two years, and we’re not going to stop ’til we find it,” McCutchen said in court Tuesday. On the day Lee vanished, Herrington was also seen on security cameras buying duct tape in Oxford and driving to his own hometown of about an hour away, police have testified. Herrington is from an affluent family in Grenada, Mississippi, about 52 miles (83.7 kilometers) southwest of Oxford, testified Ryan Baker, an Oxford Police Department intelligence officer who was a detective when he helped investigated the case. Herrington’s grandfather is bishop of a church in Grenada, other family members work at the church and Herrington himself taught youth Sunday school classes there, Baker said. Herrington “was not portraying himself as gay” to family or friends, Baker said. During testimony Tuesday, Herrington’s father and grandfather both said Herrington had never spoken about having boyfriends. Herrington operated a furniture moving business with another man while they were students at the University of Mississippi, and they had a white box truck that Herrington drove to Grenada, Baker said. Security cameras at several businesses and a neighbor’s house showed Herrington and the truck in Grenada hours after Lee disappeared, Baker said. During McCutchen’s testimony Tuesday, Horan asked whether DNA tests on items taken from Herrington’s apartment and the truck showed “any trace evidence at all implicating my client.” McCutchen said they did not, but police first searched Herrington’s apartment two weeks after Lee vanished and they searched the box truck a few days after the apartment. Both Herrington and Lee had graduated from the University of Mississippi. Lee was pursuing a master’s degree. He was known for his creative expression through fashion and makeup and often performed in drag shows in Oxford, according to a support group called Justice for Jay Lee. Prosecutors have announced they do not intend to pursue the death penalty, meaning Herrington could get a life sentence if convicted. Mississippi law defines capital murder as a killing committed along with another felony — in this case, kidnapping. Emily Wagster Pettus, The Associated PressU.S. Bancorp announces quarterly dividends
Justin Tucker's erratic season isn't getting any better, and it's hurting Baltimore's outlookThe Ottawa Senators realize they can't continue to tread water much longer if they hope to end their seven-year playoff drought. With a nine-game road trip on the horizon, the Senators will try to take advantage of home ice while they can when they host the Anaheim Ducks on Wednesday evening. "It's a long season and there is a lot of hockey ahead of us," Ottawa defenseman Thomas Chabot said. "We're building something and playing some good hockey lately." The Senators have had four chances to win three in a row this season but have lost each time, most recently 4-2 against the visiting New York Islanders on Sunday. The score was tied 2-2 midway through the third period, but the Islanders capitalized on a tripping penalty to score a power-play goal and then sealed the win with an empty-netter. Ottawa captain Brady Tkachuk, who has been the focus of recent trade rumors, said the Senators will win nine out of 10 times if they continue to play the way they did against the Islanders. "There is still so much hockey and runway left," Tkachuk said. "It's a crucial two points that we missed out on, but if we play like that, we're going to get rewarded." The Senators said similar things after losing to the Ducks 4-3 in a shootout on Dec. 1 in Anaheim. The score was tied 2-2 entering the third period of that matchup as well, but Ottawa came up on the wrong end again. "Plain and simple, we want to win hockey games, and when you don't, you're frustrated and not happy about it," Chabot said. "We're definitely heading in the right direction here. We know where we're at and won't be satisfied with losing games." Anaheim opened its four-game road trip with a 3-2 shootout loss against the Montreal Canadiens on Monday night. Troy Terry scored both goals for the Ducks to increase his team-leading total to eight, but most eyes were on Anaheim defenseman Jacob Trouba, who was making his team debut following his sudden trade from the New York Rangers on Friday. Trouba delivered a team-leading five hits and led the Ducks in even-strength ice time at 21:30. "He's always hard to play against," Terry said. "You know he's this big, physical guy and he's good defensively. I thought he was up in the play a lot tonight offensively. It felt like a few times whenever I got space in the offensive zone, he was in a good spot for a pass or a chance to score. So, I thought he was great." John Gibson figures to get the start in goal after Lukas Dostal made 19 saves against Montreal. Gibson has had good success against the Senators in his career, owning a 4-2-2 record with a .945 save percentage and 1.61 goals-against average. Anaheim coach Greg Cronin said if the Ducks can get off to the kind of start they did against Montreal, they should succeed. "The first period was one of the best periods we've played," Cronin said. "It kind of resembled the way we've been playing when we're winning." --Field Level Media
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