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Wall Street stocks finished a lackluster week on a muted note Friday as concerns about rising Treasury bond yields competed with enthusiasm over artificial intelligence equities. Of the major indices, only the Nasdaq mustered a gain in Friday's session. The tech-rich index was also the only of the three leading US benchmarks to conclude the week higher. "Equities are kind of treading water," said LBBW's Karl Haeling. "A negative influence to some extent is the rise in bond yields." The latest US consumer price index data released this week showed prices ticked higher in November and the wholesale data also showed stubborn inflationary pressures. "Yields rose to their highest levels in over two weeks as markets brace for the Federal Reserve's final meeting of the year, reflecting concerns over sticky inflation," said Chris Beauchamp, chief market analyst at online trading platform IG. There is also growing concern over the inflationary pressures from President-elect Donald Trump's pledges to cut taxes and impose tariffs, as inflation still stands above the Fed's target. "While the markets still anticipate a rate cut from the Federal Reserve next week, the likelihood of a move in January has dropped," said Patrick Munnelly, partner at broker Tickmill Group. The CME FedWatch tool shows the market sees a more than 75 percent chance that the Fed will hold rates steady in January. In Europe, the Paris CAC 40 index ended the day down 0.2 percent after French President Emmanuel Macron named his centrist ally Francois Bayrou as prime minister, ending days of deadlock over finding a replacement for Michel Barnier. Frankfurt also dipped, with Germany's central bank sharply downgrading its growth forecasts on Friday for 2025 and 2026. It predicted a prolonged period of weakness for Europe's biggest economy. London stocks were also lower after official data showed that the UK economy unexpectedly shrank for the second consecutive month in October. The euro recovered after flirting with two-year lows against the dollar following a warning Thursday by ECB president Christine Lagarde that the eurozone economy was "losing momentum", cautioning that "the risk of greater friction in global trade could weigh on euro area growth". In Asia, Hong Kong and Shanghai both tumbled as investors were unimpressed with Beijing's pledge to introduce measures aimed at "lifting consumption vigorously" as part of a drive to reignite growth in the world's number two economy. President Xi Jinping and other key leaders said at the annual Central Economic Work Conference they would implement a "moderately loose" monetary policy, increase social financing and reducing interest rates "at the right time". The gathering came after Beijing in September began unveiling a raft of policies to reverse a growth slump that has gripped the economy for almost two years. "We're still not convinced that policy support will prevent the economy from slowing further next year", said Julian Evans-Pritchard, head of China economics at research group Capital Economics. Among individual equities, chip company Broadcom surged nearly 25 percent after reporting a 51 percent jump in quarterly revenues to $14.1 billion behind massive growth in AI-linked business. New York - Dow: DOWN 0.2 percent at 43,828.06 (close) New York - S&P 500: FLAT at 6,051.09 (close) New York - Nasdaq Composite: UP 0.1 percent at 19,926.72 (close) London - FTSE 100: DOWN 0.1 percent at 8,300.33 (close) Paris - CAC 40: DOWN 0.2 percent at 7,409.57 (close) Frankfurt - DAX: DOWN 0.1 percent at 20,405.92 (close) Tokyo - Nikkei 225: DOWN 1.0 percent at 39,470.44 (close) Hong Kong - Hang Seng Index: DOWN 2.1 percent at 19,971.24 (close) Shanghai - Composite: DOWN 2.0 percent at 3,391.88 (close) Euro/dollar: UP at $1.0504 from $1.0467 on Thursday Pound/dollar: DOWN at $1.2622 from $1.2673 Dollar/yen: UP at 153.60 yen from 152.63 yen Euro/pound: UP at 83.19 pence from 82.59 pence Brent North Sea Crude: UP 1.5 percent at $74.49 per barrel West Texas Intermediate: UP 1.8 percent at $71.29 per barrel burs-jmb/st
NEW YORK, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Dentsply Sirona Inc. XRAY and certain of the company's senior executives for potential violations of the federal securities laws. If you invested in Dentsply, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/dentsply-sirona-inc . Investors have until January 27, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Dentsply stock. The case is pending in the U.S. District Court for the Southern District of New York and is captioned North Collier Fire Control and Rescue District Firefighters' Retirement Plan v. Dentsply Sirona Inc., et al. , No. 24-cv-09083. What is the Lawsuit About? Dentsply manufactures professional dental products. On December 31, 2020, Dentsply paid $1.04 billion to acquire Byte, a manufacturer of affordable, "doctor-directed," clear dental aligners. The complaint alleges that, during the relevant period, Dentsply touted the growth in Byte's business as well as Dentsply's ability to profitably generate revenue by converting members of Byte's "target demographics" into new patients. In truth, the complaint alleges that Dentsply targeted low-income people with underlying dental issues that were ineligible for treatment and Dentsply sold Byte aligners to contraindicated patients. The complaint further alleges that Dentsply knew that its Byte aligners were causing severe patient injuries but did little to investigate and had no systems in place to notify the FDA, contrary to regulation. As a result, Dentsply materially overstated the goodwill value of Byte. On October 24, 2024, Dentsply announced the "voluntary suspension of sales and marketing of its Byte Aligners and Impression Kits while the company conducted a review of certain regulatory requirements related to these products." Dentsply also disclosed that it "expects to record non-cash charges for the impairment of goodwill within the range of $450-$550 million" for its Orthodontic and Implant Solutions segment, with the decline in fair value for the Orthodontic Aligner Solutions reporting unit "driven primarily by adverse impacts from recent state regulatory trends pertaining to the Company's direct-to-consumer aligner business." During a "Byte business update call" CEO Campion gave more context about the Byte suspension: "[I]n connection with our ongoing discussions with FDA, we have determined that our patient onboarding workflow may not provide adequate assurance that certain contraindicated patients do not enter treatment with Byte Aligners." As a result of this news, the price of Dentsply stock fell more than 4%, from a closing price of $24.41 per share on October 24, 2024 to a closing price of $23.31 per share on October 25, 2024. Then, on November 7, 2024, Dentsply reported its financial results for the third quarter of 2024 during which it disclosed it had "recorded a non-cash charge for the impairment of goodwill of ($495) million net of tax within the Orthodontic and Implant Solutions segment." Dentsply also revised its 2024 outlook, with expected organic sales of "(3.5%) to (2.5%) (previously (1%) to flat)" and adjusted EPS of "$1.82 to $1.86 (previously $1.96 to $2.02)." CEO Campion disclosed that although Dentsply was "not at a point in our analysis to make a definitive decision concerning Byte," the company was "thoroughly evaluating strategic options, which may include a discontinuation of some or all of this business." This news caused the price of Dentsply stock to fall $6.72 per share, or more than 28%, from a closing price of $23.98 per share on November 6, 2024, to a closing price of $17.26 per share on November 7, 2024. Click here for more information: https://www.bfalaw.com/cases-investigations/dentsply-sirona-inc . What Can You Do? If you invested in Dentsply you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: https://www.bfalaw.com/cases-investigations/dentsply-sirona-inc Or contact: Ross Shikowitz ross@bfalaw.com 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd. For more information about BFA and its attorneys, please visit https://www.bfalaw.com . https://www.bfalaw.com/cases-investigations/dentsply-sirona-inc Attorney advertising. Past results do not guarantee future outcomes. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Valerie Bertinelli has confidently responded to critics who body-shamed her after posting a selfie in her lingerie on social media. On Monday (December 2), the 64-year-old One Day at a Time star shared an intimate message about body positivity on Instagram , as she posed for a mirror selfie while wearing a black two-piece underwear set. “At some point I will talk about the madness my body has been through this year,” she began in the caption. “But right now every lump, bump, wrinkle, and saggy part of me just feels acceptance and simple appreciation to be standing in front of a mirror in a hotel bathroom in downtown Manhattan ready to color my roots late on a Monday night.” Bertinelli’s post was met with an outpouring of support from her followers, as many people thanked her for motivating them to love their bodies too. However, her picture was also the target of several crude remarks from people attempting to break her confidence. Instead, the Golden Globe winner followed up her post with a second message, calling out the critics who continued to pass judgment on her figure. “First of all, to those of you who felt a connection to my prior post and identified with what I was talking about, (empowering ourselves to focus on our own self-acceptance and self-love), thank you and thank you for your kindness,” she wrote in her subsequent Instagram post shared on Tuesday. “I see you. We are in this together,” Bertinelli continued. “To all of you that would sit in judgment of my body, the photo, and my reason for posting it, I hope you find a place in your heart to not judge yourself as harshly as you judge others. “I have dealt with judgment my entire life starting from when I was a young girl. It has taken me a long time to realize that my judgment, with patient discernment, is the only judgment that counts,” the Hot in Cleveland star said. “I have no power over someone else’s judgment of me and now I have no interest. Finally.” She added: “It’s taken me almost three years of emotional labor to get to this point mentally and for the first eight months of this year I had physical setbacks. I don’t care what you think of my body. I don’t care what you think about my posting about it.” Bertinelli went on to admit she “hated” her body when she was 20. Now, she said she wishes she didn’t have that perception back then. “Yes, it was a very different body than the one I now inhabit, but it hadn’t yet been through the journey I needed to go through,” she noted. “Even as challenging as it’s been and is, I am grateful for this journey and I wouldn’t trade this body for my 20-year-old body any day. Ever.” Back in May, Bertinelli opened up about another personal topic to her Instagram followers; she revealed that she knew her ex-husband Eddie Van Halen — with whom she welcomed her 33-year-old son Wolfgang Van Halen — wasn’t her “soulmate.” In her post, the actor admitted that her relationship with the late rocker, who died in 2020, was somewhat of a whirlwind romance. Although they were together for more than 26 years, Bertinelli said their love “rapidly declined into drugs, alcohol, and infidelity” after their initial honeymoon period when she was 20. Ultimately, it became clear these behaviors didn’t “scream soulmate.” Bertinelli and Van Halen tied the knot in 1981. They announced they were separating in 2001 before officially getting divorced in 2007. She remarried Tom Vitale in 2011, but the pair announced their split in 2022 .
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