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What to know about federal employees who telecommute as DOGE looks to end remote workAlphabet led a Big Tech rally on Wednesday, with its stock hitting a record high after U.S. President-elect Donald Trump picked Federal Trade Commissioner Andrew Ferguson to lead the consumer protection and antitrust agency. Trump tapped Ferguson on Tuesday to replace Lina Khan, whose term as FTC chair has expired. The agency became a political flashpoint under Khan, who promoted antitrust enforcement as a check on corporate power. Several Big Tech firms such as Google-parent Alphabet, Microsoft and Apple faced heightened regulatory pressure from the FTC during her tenure. Ferguson was a "known dissenter" under Khan "and many people feel under his leadership the antitrust case against Alphabet will come to an end", said Jay Woods, chief global strategist at Freedom Capital Markets. Trump and his team have been broadly critical of Big Tech companies, although some of his most prominent backers were tech executives, and it is unclear how they will approach regulatory and M&A policy for that sector. Alphabet's shares rose about 5.5 per cent to hit a record high of $195.45. Tesla jumped 4.6 per cent, also to a record high, extending its rally since the Nov. 5 presidential election on bets the EV-maker will benefit from CEO Elon Musk's close relationship with Trump. Other tech shares also rallied. Microsoft gained 1.2 per cent and Amazon.com and Meta Platforms added 2 per cent each. The latest inflation report raised expectations of an interest-rate cut by the U.S. Federal Reserve later this month, lifting technology stocks. Shares of Alphabet have gained over 10 per cent in the last two days following announcements from the company about its AI agents and quantum-chip breakthrough. Google released the second generation of its Gemini artificial-intelligence model earlier on Wednesday and teased a lineup of new ways to use AI beyond chatbots, including through a pair of eyeglasses. It unveiled a new-generation chip on Monday, which it said helped overcome a key challenge in quantum computing. "What we're seeing here is Google positioning itself at the bleeding edge of a transformative technology," said Michael Ashley Schulman, chief investment officer at Running Point Capital. "While Google sometimes has been viewed as 'behind' in AI, the recent quantum breakthrough shows us that the company knows how to construct processors," said Jamie Meyers, senior analyst at Laffer Tengler Investments.
NASSAU, Bahamas — Scottie Scheffler brought a new putting grip to the Hero World Challenge and felt enough improvement to be satisfied with the result, a 5-under 67 that left him three shots behind Cameron Young on Thursday. Young was playing for the first time since the BMW Championship more than three months ago and found great success on and around the greens of Albany Golf Club, chipping beautifully and holing four birdie putts from 15 feet or longer for his 64. He led by two shots over Justin Thomas in his first competition since his daughter was born a few weeks ago. Thomas ran off four straight birdies late in his round and was a fraction of an inch away with a fifth. The big surprise was Scheffler, the No. 1 player in golf who looked as good as he has all year in compiling eight victories, including an Olympic gold medal. His iron play has no equal. His putting at times has kept him from winning more or winning bigger. He decided to try to a "saw" putting grip from about 20 feet or closer — the putter rests between his right thumb and his fingers, with his left index finger pointed down the shaft. "I'm always looking for ways to improve," Scheffler said. Scheffler last year began working with renowned putting instructor Phil Kenyon, and he says Kenyon mentioned the alternative putting grip back then. "But it was really our first time working together and it's something that's different than what I've done in the past," Scheffler said. "This year I had thought about it from time to time, and it was something that we had just said let's table that for the end of the season, take a look at it. "Figured this is a good week to try stuff." He opened with a wedge to 2 feet and he missed a 7-foot birdie putt on the par-5 third. But he holed a birdie from about the same distance at the next par 5, No. 6, and holed a sliding 6-footer on the ninth to save par. His longest putt was his last hole, from 12 feet for a closing birdie. "I really enjoyed the way it felt," he said. "I felt like I'm seeing some improvements in my stroke." Young, regarded as the best active player without a PGA Tour victory, is treating this holiday tournament as the start of a new season. He worked on getting stronger and got back to the basics in his powerful golf swing. And on this day, he was dialed in with his short game. He only struggled to save par twice and kept piling up birdies in his bogey-free round on an ideal day in the Bahamas. "The wind wasn't blowing much so it was relatively stress-free," Young said. Patrick Cantlay, along with Scheffler playing for the first time since the Presidents Cup, also was at 67 with Ludvig Aberg, Akshay Bhatia and Sahith Theegala. Thomas also took this occasion to do a little experimenting against a 20-man field. He has using a 46-inch driver at home — a little more than an inch longer than his regular driver — in a bid to gain more speed. On a day with little wind, on a golf course with some room off the tee, he decided to put it in play. "Just with it being a little bit longer, I just kind of have to get the club out in front of me and get on top of it a little bit more," Thomas said. "I drove the hell out of it on the back, so that was nice to try something different and have it go a little bit better on the back." Thomas said the longer driver gives him 2 or 3 mph in ball speed and 10 extra yards in the air. "It's very specific for courses, but gave it a try," he said. Conditions were easy enough that only four players in field failed to break par, with Jason Day bringing up the rear with a 75. Get local news delivered to your inbox!
OTTAWA — Cowessess First Nation Chief Erica Beaudin says she is “disappointed’ that Conservative House Leader Andrew Scheer used clean drinking water legislation as a political “tactic.” Bill C-61 recognizes First Nations have an inherent right to clean drinking water and commits the government to providing “adequate and sustainable” funding for water services in First Nations. It remains stalled at third reading in the House of Commons because of an ongoing privilege debate that has prevented the consideration of bills since late September. Today Liberal MP Jaime Battiste asked for unanimous consent to forward the First Nations Clean Drinking Water Act to the Senate but several MPs said no. Scheer, who’s riding includes Cowessess, rose immediately afterward for a similar motion that also condemned the Liberal government for inaction but it was also defeated. While Cowessess doesn’t currently have a boil water advisory, Beaudin says people in her community rely on bottled water because they don’t trust what comes from their taps. This report by The Canadian Press was first published Dec. 5, 2024. David Baxter, The Canadian PressSINGAPORE , Dec. 5, 2024 /PRNewswire/ -- Maxeon Solar Technologies, Ltd. MAXN ("Maxeon" or "the Company"), a global leader in solar innovation and channels, today announced its financial results for the third quarter ended September 29, 2024 . Maxeon's Chief Executive Officer George Guo stated, "Third quarter results were distorted due to deliveries detained by the United States Customs and Border Protection ("CBP"), fixed costs associated with factory shutdowns and low production levels, and costs and write-offs from our ongoing restructuring. On top of this, we continue to observe depressed prices as a result of the global oversupply and intense competition. The average market price for high efficiency and mainstream crystalline modules like our IBC products and Performance line products has dropped by approximately 43.5% and 28.6%, respectively, since January 2024 . We recently announced some of the key strategic initiatives undertaken to optimize Maxeon's business portfolio and geographic market focus. Moving forward, we intend to re-create Maxeon as a world leader in solar, focused exclusively in the United States where we believe our market presence and planned local manufacturing create a strong platform to drive growth and profitability in the future. We appreciate the support and patience of our investors as we translate our strategic thinking into concrete actions." Maxeon's Chief Financial Officer Dmitri Hu added, "As we establish our new strategy to transform Maxeon, we are highly focused on our financial position. We intend to reserve sufficient liquidity for daily operations, while we recapitalize the company to fund our restructuring and growth. However, considering the continued uncertainties around CBP detentions, we are unable to provide financial guidance for fourth quarter of 2024. We will defer holding a conference call to discuss quarterly financial results, until the ongoing restructuring is complete and we can provide a more comprehensive view of our go-forward strategy." Selected Q3 Unaudited Financial Summary (In thousands, except shipments) Fiscal Q3 2024 Revised Fiscal Q2 2024 Fiscal Q3 2023 Shipments, in MW 199 526 628 Revenue $ 88,560 $ 184,219 $ 227,630 Gross (loss) profit (1) (179,101) (7,785) 2,728 GAAP Operating expenses 153,218 61,670 66,562 Net loss attributable to the stockholders (1) (393,944) (34,231) (2) (108,257) Capital expenditures 11,129 17,707 15,127 Other Financial Data (1) (In thousands) Fiscal Q3 2024 Revised Fiscal Q2 2024 Fiscal Q3 2023 Non-GAAP Gross (loss) profit $ (174,742) $ (5,794) $ 2,728 Non-GAAP Operating expenses 42,861 40,180 37,535 Adjusted EBITDA (225,705) (36,574) (19,923) (1) The Company's use of Non-GAAP financial information, including a reconciliation to U.S. GAAP, is provided under "Use of Non-GAAP Financial Measures" below. (2) Reflects the correction of an error in the gain on extinguishment of debt reported in our second quarter Form 6-K, filed with the SEC on September 3, 2024, due to incorrect valuation methodology and assumptions used on the ratio of warrants to number of shares. The revised gain on extinguishment of debt should be $35.3 million instead of the previously reported $77.3 million. In addition, $24.8 million of warrants were erroneously classified as equity that should have been classified as liabilities, as the fixed-for-fixed criteria was not met until the three months ended September 29, 2024.Consequently, interest expense, net should be $14.1 million instead of $10.1 million as reported previously. Total effect on net loss attributable to the stockholders is $45.9 million. For more information Maxeon's third quarter 2024 financial results and management commentary can be found on Form 6-K by accessing the Financials & Filings page of the Investor Relations section of Maxeon's website at: https://corp.maxeon.com/investor-relations . The Form 6-K and Company's other filings are also available online from the Securities and Exchange Commission at www.sec.gov . About Maxeon Solar Technologies Maxeon Solar Technologies MAXN is Powering Positive ChangeTM. Headquartered in Singapore, Maxeon leverages nearly 40 years of solar energy leadership and over 2,000 granted patents to design innovative and sustainably made solar panels and energy solutions for residential, commercial, and power plant customers. For more information about how Maxeon is Powering Positive ChangeTM visit us at www.maxeon.com , and on LinkedIn. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding: (a) our ability to (i) meet short-term and long-term material cash requirements, (ii) service our outstanding debts and make payments as they come due and (iii) continue as a going concern; (b) the success of our ongoing restructuring initiatives and our ability to execute on our plans and strategy; (c) our expectations regarding product pricing trends, demand and growth projections, including our efforts to enforce our intellectual property rights against our competitors; (d) disruptions to our operations and supply chain resulting from, among other things, government regulatory or enforcement actions, such as the detentions of our products by the U.S. Customs Border and Protection (CBP) for an unforeseeable amount of time, epidemics, natural disasters or military conflicts, including the duration, scope and impact on the demand for our products, market disruptions from the war in Ukraine and the Israel-Hamas-Iran conflict; (e) anticipated product launch timing and our expectations regarding ramp, customer acceptance and demand, upsell and expansion opportunities; (f) our expectations and plans for short- and long-term strategy, including our anticipated areas of focus and investment, market expansion, product and technology focus, implementation of restructuring plans and projected growth and profitability; (g) our technology outlook, including anticipated fab capacity expansion and utilization and expected ramp and production timelines for the Company's next-generation Maxeon 7 and Performance line solar panels, expected cost reductions, and future performance; (h) our strategic goals and plans, including statements regarding restructuring of our business portfolio, the Company's anticipated manufacturing facility in the U.S., our transformation initiatives and plans regarding supply chain adaptation, improved costs and efficiencies, capacity expansion, partnership discussions with respect to the Company's next-generation technology, and our relationship with our existing customers, suppliers and partners, and our ability to achieve and maintain them; (i) our expectations regarding our future performance and revenues resulting from contracted orders, bookings, backlog, and pipelines in our sales channels and feedback from our partners; and (j) our projected effective tax rate and changes to the valuation allowance related to our deferred tax assets. The forward-looking statements can be also identified by terminology such as "may," "might," "could," "will," "aims," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and Maxeon's operations and business outlook contain forward-looking statements. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. These statements are not guarantees of future performance and are subject to a number of risks. The reader should not place undue reliance on these forward-looking statements, as there can be no assurances that the plans, initiatives or expectations upon which they are based will occur. Factors that could cause or contribute to such differences include, but are not limited to: (1) challenges in executing transactions key to our strategic plans, and other restructuring plans, as well as challenges in addressing regulatory and other obstacles that may arise; (2) our liquidity, substantial indebtedness, terms and conditions upon which our indebtedness is incurred, and ability to obtain additional financing for our projects, customers and operations; (3) an adverse final determination of the CBP investigation related to CBP's examination of Maxeon's compliance with the Uyghur Forced Labor Prevention Act; (4) our ability to manage supply chain shortages and/or excess inventory and cost increases and operating expenses; (5) potential disruptions to our operations and supply chain that may result from damage or destruction of facilities operated by our suppliers, difficulties in hiring or retaining key personnel, epidemics, natural disasters, including impacts of the war in Ukraine ; (6) our ability to manage our key customers and suppliers; (7) the success of our ongoing research and development efforts and our ability to commercialize new products and services, including products and services developed through strategic partnerships; (8) competition in the solar and general energy industry and downward pressure on selling prices and wholesale energy pricing, including impacts of inflation, economic recession and foreign exchange rates upon customer demand; (9) changes in regulation and public policy, including the imposition and applicability of tariffs; (10) our ability to comply with various tax holiday requirements as well as regulatory changes or findings affecting the availability of economic incentives promoting use of solar energy and availability of tax incentives or imposition of tax duties; (11) fluctuations in our operating results and in the foreign currencies in which we operate; (12) appropriate sizing, or delays in expanding our manufacturing capacity and containing manufacturing and logistical difficulties that could arise; (13) unanticipated impact to customer demand and sales schedules due, among other factors, to the war in Ukraine , economic recession and environmental disasters; (14) reaction by securities or industry analysts to our annual and/or quarterly guidance, in combination with our results of operations or other factors, and/ or third party reports or publications, whether accurate or not, which may cause such securities or industry analysts to cease publishing research or reports about us, or adversely change their recommendations regarding our ordinary shares, which may negatively impact the market price of our ordinary shares and volume of our stock trading; and (15) unpredictable outcomes resulting from our litigation activities and other disputes. Forward-looking and other statements in this report may also address our corporate sustainability or responsibility progress, plans, and goals (including environmental matters), and the inclusion of such statements is not an indication that these contents are necessarily material to investors or required to be disclosed in the Company's filings with the SEC. In addition, historical, current, and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission ("SEC") from time to time, including our most recent report on Form 20-F, particularly under the heading "Risk Factors" and Form 6-K filings discussing our quarterly earnings results. Copies of these filings are available online from the SEC at www.sec.gov , or on the SEC Filings section of our Investor Relations website at https://corp.maxeon.com/investor-relations . All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events. Use of Non-GAAP Financial Measures We present certain non-GAAP measures such as non-GAAP gross (loss) profit, non-GAAP operating expenses and earnings before interest, taxes, depreciation and amortization ("EBITDA") adjusted for stock-based compensation, provision for expected credit losses, restructuring charges and fees, remeasurement loss on prepaid forward, physical delivery forward and warrants, gain on extinguishment of debt and equity in income of unconsolidated investees and associated gains ("Adjusted EBITDA") to supplement our consolidated financial results presented in accordance with GAAP. Non-GAAP gross (loss) profit is defined as gross (loss) profit excluding stock-based compensation and restructuring charges and fees. Non-GAAP operating expenses is defined as operating expenses excluding stock-based compensation, provision for expected credit losses and restructuring charges and fees. We believe that non-GAAP gross (loss) profit, non-GAAP operating expenses and Adjusted EBITDA provide greater transparency into management's view and assessment of the Company's ongoing operating performance by removing items management believes are not representative of our continuing operations and may distort our longer-term operating trends. We believe these measures are useful to help enhance the comparability of our results of operations across different reporting periods on a consistent basis and with our competitors, distinct from items that are infrequent or not associated with the Company's core operations as presented above. We also use these non-GAAP measures internally to assess our business, financial performance and current and historical results, as well as for strategic decision-making and forecasting future results. Given our use of non-GAAP measures, we believe that these measures may be important to investors in understanding our operating results as seen through the eyes of management. These non-GAAP measures are neither prepared in accordance with GAAP nor are they intended to be a replacement for GAAP financial data, should be reviewed together with GAAP measures and may be different from non-GAAP measures used by other companies. As presented in the "Reconciliation of Non-GAAP Financial Measures" section, each of the non-GAAP financial measures excludes one or more of the following items in arriving to the non-GAAP measures: Stock-based compensation expense . Stock-based compensation relates primarily to equity incentive awards. Stock-based compensation is a non-cash expense that is dependent on market forces that are difficult to predict and is excluded from non-GAAP gross (loss) profit, non-GAAP operating expense and Adjusted EBITDA. Management believes that this adjustment for stock-based compensation expense provides investors with a basis to measure our core performance, including the ability to compare our performance with the performance of other companies, without the period-to-period variability created by stock-based compensation Provision for expected credit losses . This relates to the expected credit loss in relation to the financial assets under the Separation and Distribution Agreement dated November 8, 2019 (the "SDA") entered into with SunPower Corporation ("SunPower") in connection with the Company's spin-off from SunPower. Such loss is excluded from non-GAAP operating expense and Adjusted EBITDA as this relates to SunPower's business which Maxeon did not and will not have economic benefits to, as the Company's involvement is solely through SunPower's indemnification obligations set forth in the SDA. As such, management believes that this is not part of core operating activity and it is appropriate to exclude the provision for expected credit losses from our non-GAAP financial measures as it is not reflective of ongoing operating results nor do these charges contribute to a meaningful evaluation of our past operating performance. Restructuring charges and fees . We incur restructuring charges, inventory impairment and other inventory related costs associated with the re-engineering of our IBC capacity, and fees related to reorganization plans aimed towards realigning resources consistent with our global strategy and improving its overall operating efficiency and cost structure. Restructuring charges and fees are excluded from non-GAAP operating expenses and Adjusted EBITDA because they are not considered core operating activities. Although we have engaged in restructuring activities and initiatives, past activities have been discrete events based on unique sets of business objectives. As such, management believes that it is appropriate to exclude restructuring charges and fees from our non-GAAP financial measures as they are not reflective of ongoing operating results nor do these charges contribute to a meaningful evaluation of our past operating performance. Gain on extinguishment of debt . This relates to the gain that arose from the substantial modification in June 2024 of our Green Convertible Senior Notes due 2025 (the "2025 Notes") and First Lien Senior Secured Convertible Notes due 2027. Gain on debt extinguishment is excluded from Adjusted EBITDA because it is not considered part of core operating activities. Such activities are discrete events based on unique sets of business objectives. As such, management believes that it is appropriate to exclude the gain on extinguishment of debt from our non-GAAP financial measures as it is not reflective of ongoing operating results nor do these charges contribute to a meaningful evaluation of our past operating performance. Remeasurement loss (gain) on prepaid forward and physical delivery forward . This relates to the mark-to-market fair value remeasurement of privately negotiated prepaid forward and physical delivery transactions. The transactions were entered into in connection with the issuance on July 17, 2020 of the 2025 Notes for an aggregate principal amount of $200 million . The prepaid forward is remeasured to fair value at the end of each reporting period, with changes in fair value booked in earnings. The fair value of the prepaid forward is primarily affected by the Company's share price. The physical delivery forward was remeasured to fair value at the end of the note valuation period on September 29, 2020 , and was reclassified to equity after remeasurement, and will not be subsequently remeasured. The fair value of the physical delivery forward was primarily affected by the Company's share price. The remeasurement loss (gain) on prepaid forward and physical delivery forward is excluded from Adjusted EBITDA because it is not considered core operating activities. As such, management believes that it is appropriate to exclude the mark-to-market adjustments from our Adjusted EBITDA as it is not reflective of ongoing operating results nor do the loss contribute to a meaningful evaluation of our past operating performance. Remeasurement loss (gain) on warrants . This relates to the mark-to-market fair value remeasurement of the exchange warrants and investor warrants. The transactions were entered into in connection with the exchange of 99.25% of the 2025 Notes with aggregate notional amount of $200 million and the 9.00% Convertible First Lien Senior Secured Notes due 2029 of $97.5 million , both entered on June 20, 2024 . The investor warrants were remeasured to fair value prior to them being exercised and were reclassified to equity, and will not be subsequently remeasured. The exchange warrants were remeasured to fair value on September 12, 2024 , and were reclassified to equity after on such date, and will not be subsequently remeasured. The fair value of the warrants was primarily affected by the Company's share price. The remeasurement loss on warrants is excluded from Adjusted EBITDA because it is not considered a core operating activity. As such, management believes that it is appropriate to exclude the mark-to-market adjustments from our Adjusted EBITDA as it is not reflective of ongoing operating results nor do the loss contribute to a meaningful evaluation of our past operating performance. Equity in (income) losses of unconsolidated investees and related gains . This relates to the loss on our former unconsolidated equity investment Huansheng JV and gains on such investment on divestment. This is excluded from our Adjusted EBITDA financial measure as it is non-cash in nature and not reflective of our core operational performance. As such, management believes that it is appropriate to exclude such charges as they do not contribute to a meaningful evaluation of our performance. Reconciliation of Non-GAAP Financial Measures Three Months Ended (In thousands) September 29, 2024 June 30, 2024 October 1, 2023 Gross (loss) profit $ (179,101) $ (7,785) $ 2,728 Stock-based compensation 1,596 166 — Restructuring charges and fees 2,763 1,825 — Non-GAAP Gross (loss) profit (174,742) (5,794) 2,728 GAAP Operating expenses 153,218 61,670 66,562 Stock-based compensation (4,293) (5,070) (4,888) Reversal of (provision for) expected credit losses 165 (11,462) — Restructuring charges and fees (106,229) (4,958) (24,139) Non-GAAP Operating expenses 42,861 40,180 37,535 Net loss attributable to the stockholders (393,944) (34,231) (*) (108,257) Interest expense, net 11,784 14,064(*) 7,734 Provision for (benefit from) income taxes 18,925 3,212 (2,554) Depreciation 15,886 10,338 14,495 Amortization 169 220 38 EBITDA (347,180) (6,397) (88,544) Stock-based compensation 5,889 5,236 4,888 (Reversal of) provision for expected credit losses (165) 11,462 — Gain on extinguishment of debt — (35,326)(*) — Restructuring charges and fees 108,992 6,783 24,139 Remeasurement loss on prepaid forward 1,793 5,751 37,137 Remeasurement loss on warrants 4,966 — — Equity in (income) losses of unconsolidated investees and related gains — (24,083) 2,457 Adjusted EBITDA (225,705) (36,574) (19,923) (*) Reflects the correction of an error in the gain on extinguishment of debt reported in our second quarter Form 6-K, filed with the SEC on September 3, 2024, due to incorrect valuation methodology and assumptions used on the ratio of warrants to number of shares. The revised gain on extinguishment of debt should be $35.3 million instead of the previously reported $77.3 million. In addition, $24.8 million of warrants were erroneously classified as equity that should have been classified as liabilities, as the fixed-for-fixed criteria was not met until the three months ended September 29, 2024.Consequently, interest expense, net should be $14.1 million instead of $10.1 million as reported previously. Total effect on net loss attributable to the stockholders is $45.9 million. ©2024 Maxeon Solar Technologies, Ltd. All rights reserved. MAXEON is a registered trademark of Maxeon Solar Technologies, Ltd. Visit https://corp.maxeon.com/trademarks for more information. MAXEON SOLAR TECHNOLOGIES, LTD. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (In thousands, except for shares data) As of September 29, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 51,223 $ 190,169 Restricted short-term marketable securities 1,399 1,403 Accounts receivable, net 18,625 62,687 Inventories 149,456 308,948 Prepaid expenses and other current assets 41,412 55,812 Total current assets $ 262,115 $ 619,019 Property, plant and equipment, net 138,707 280,025 Operating lease right of use assets 17,574 22,824 Other intangible assets, net 587 3,352 Other long-term assets 22,379 68,910 Total assets $ 441,362 $ 1,002,009 Liabilities and Equity Current liabilities: Accounts payable $ 116,161 $ 153,020 Accrued liabilities 78,654 113,456 Contract liabilities, current portion 31,841 134,171 Short-term debt 2,193 25,432 Convertible debt, current portion 801 — Operating lease liabilities, current portion 7,427 5,857 Total current liabilities $ 237,077 $ 431,936 Long-term debt 855 1,203 Contract liabilities, net of current portion 48,038 113,564 Operating lease liabilities, net of current portion 20,257 19,611 Convertible debt 286,971 385,558 Deferred tax liabilities 6,994 7,001 Other long-term liabilities 46,904 38,494 Total liabilities $ 647,096 $ 997,367 Commitments and contingencies Equity: Common stock, no par value (1,522,138,260 and 53,959,109 issued and outstanding as of September 29, 2024 and December 31, 2023, respectively) $ — $ — Additional paid-in capital 1,107,063 811,361 Accumulated deficit (1,304,415) (796,092) Accumulated other comprehensive loss (13,712) (16,378) Equity attributable to the Company (211,064) (1,109) Noncontrolling interests 5,330 5,751 Total equity (205,734) 4,642 Total liabilities and equity $ 441,362 $ 1,002,009 MAXEON SOLAR TECHNOLOGIES, LTD. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (In thousands, except per share data) Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Revenue $ 88,560 $ 227,630 $ 460,235 $ 894,335 Cost of revenue 267,661 224,902 661,992 781,759 Gross (loss) profit (179,101) 2,728 (201,757) 112,576 Operating expenses: Research and development 8,962 11,627 28,284 35,715 Sales, general and administrative 38,296 31,771 126,330 97,291 Restructuring charges 105,960 23,164 108,942 23,307 Total operating expenses 153,218 66,562 263,556 156,313 Operating loss (332,319) (63,834) (465,313) (43,737) Other (expense) income, net Interest expense (12,170) (10,464) (36,302) (*) (32,337) Interest income 386 2,730 1,713 6,701 Gain on extinguishment of debt — — 35,326 (*) — Other, net (30,702) (36,904) (20,828) (7,911) Other expense, net (42,486) (44,638) (20,091) (33,547) Loss before income taxes and equity in losses of unconsolidated investees (374,805) (108,472) (485,404) (77,284) (Provision for) benefit from income taxes (18,925) 2,554 (23,340) (9,323) Equity in losses of unconsolidated investees — (2,457) — (2,811) Net loss (393,730) (108,375) (508,744) (89,418) Net (income) loss attributable to noncontrolling interests (214) 118 421 (77) Net loss attributable to the stockholders $ (393,944) $ (108,257) $ (508,323) $ (89,495) Net loss per share attributable to stockholders: Basic and diluted $ (0.47) $ (2.21) $ (1.63) $ (1.98) Weighted average shares used to compute net loss per share: Basic and diluted 832,620 48,925 311,441 45,157 (*) Reflects the correction of an error in the gain on extinguishment of debt reported in our second quarter Form 6-K, filed with the SEC on September 3, 2024, due to incorrect valuation methodology and assumptions used on the ratio of warrants to number of shares. The revised gain on extinguishment of debt should be $35.3 million instead of the previously reported $77.3 million. In addition, $24.8 million of warrants were erroneously classified as equity that should have been classified as liabilities, as the fixed-for-fixed criteria was not met until the three months ended September 29, 2024. Consequently, interest expense should be $14.6 million instead of $10.6 million as reported previously. Total effect on net loss attributable to the stockholders is $45.9 million. MAXEON SOLAR TECHNOLOGIES, LTD. CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (unaudited) (In thousands) Shares Amount Additional Paid In Capital Accumulated Deficit Accumulated Other Comprehensive Loss Equity Attributable to the Company Noncontrolling Interests Total Equity Balance at December 31, 2023 53,959 $ — $ 811,361 $ (796,092) $ (16,378) $ (1,109) $ 5,751 $ 4,642 Net loss — — — (80,148) — (80,148) (56) (80,204) Issuance of common stock for stock-based compensation 725 — — — — — — — Recognition of stock-based compensation — — 7,027 — — 7,027 — 7,027 Other comprehensive income — — — — 1,019 1,019 — 1,019 Balance at March 31, 2024 54,684 $ — $ 818,388 $ (876,240) $ (15,359) $ (73,211) $ 5,695 $ (67,516) Net loss — $ — $ — $ (34,231) $ — $ (34,231) $ (579) $ (34,810) Issuance of common stock for stock-based compensation 201 — — — — — — — Issuance of common stock for settlement of obligation 821 4,140 — — 4,140 4,140 Recognition of stock-based compensation — — 5,865 — — 5,865 — 5,865 Other comprehensive loss — — — — (155) (155) — (155) Balance at June 30, 2024 55,706 — 828,393 * (910,471) * (15,514) (97,592) 5,116 (92,476) Net loss (income) — — — (393,944) — (393,944) 214 (393,730) Issuance of common stock, net of issuance cost 829,187 — 95,101 — — 95,101 — 95,101 Issuance of common stock for settlement of obligation 19,076 — 2,829 — — 2,829 — 2,829 Issuance of common stock for stock-based compensation 363 — — — — — — — Issuance of common stock through exercise of warrants 134,566 — 28,162 — — 28,162 — 28,162 Reclassification of warrants from liability to equity — 47,384 — — 47,384 — 47,384 Conversion of convertible debts to equity 483,240 — 100,463 — — 100,463 — 100,463 Recognition of stock-based compensation — — 4,731 — — 4,731 — 4,731 Other comprehensive income — — — — 1,802 1,802 — 1,802 Balance at September 29, 2024 1,522,138 — 1,107,063 (1,304,415) (13,712) (211,064) 5,330 (205,734) Shares Amount Additional Paid In Capital Accumulated Deficit Accumulated Other Comprehensive Loss Equity Attributable to the Company Noncontrolling Interests Total Equity Balance at January 1, 2023 45,033 $ — $ 584,808 $ (520,263) $ (22,108) $ 42,437 $ 5,633 $ 48,070 Net loss — — — 20,271 — 20,271 147 20,418 Issuance of common stock for stock-based compensation 377 — — — — — — — Distribution to noncontrolling interest — — — — — — — — Recognition of stock-based compensation — — 4,033 — — 4,033 — 4,033 Other comprehensive income — — — — 1,627 1,627 — 1,627 Balance at April 2, 2023 45,410 $ — $ 588,841 $ (499,992) $ (20,481) $ 68,368 $ 5,780 $ 74,148 Net (loss) income — — — (1,509) — (1,509) 48 (1,461) Issuance of common stock, net of issuance cost 7,120 — 193,491 — — 193,491 — 193,491 Issuance of common stock for stock-based compensation 116 — — — — — — — Recognition of stock-based compensation — — 6,980 — — 6,980 — 6,980 Other comprehensive loss — — — — (65) (65) — (65) Balance at July 2, 2023 52,646 — 789,312 (501,501) (20,546) 267,265 5,828 273,093 Net loss — — — (108,257) — (108,257) (118) (108,375) Issuance of common stock for stock-based compensation 134 — — — — — — Recognition of stock-based compensation — — 5,906 — — 5,906 — 5,906 Other comprehensive income — — — — 4,936 4,936 — 4,936 Balance at October 1, 2023 52,780 — 795,218 (609,758) (15,610) 169,850 5,710 175,560 (*) Reflects the correction of an error in the gain on extinguishment of debt reported in our second quarter Form 6-K, filed with the SEC on September 3, 2024, due to incorrect valuation methodology and assumptions used on the ratio of warrants to number of shares. The revised gain on extinguishment of debt should be $35.3 million instead of the previously reported $77.3 million. In addition, $24.8 million of warrants were erroneously classified as equity that should have been classified as liabilities, as the fixed-for-fixed criteria was not met until the three months ended September 29, 2024.Consequently, interest expense, net should be $14.1 million instead of $10.1 million as reported previously. Total effect on net loss attributable to the stockholders is $45.9 million. MAXEON SOLAR TECHNOLOGIES, LTD. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (In thousands) Nine Months Ended September 29, 2024 October 1, 2023 Cash flows from operating activities Net loss $ (508,744) $ (89,418) Adjustments to reconcile net loss to operating cash flows Depreciation and amortization 37,162 43,579 Stock-based compensation 18,003 17,145 Non-cash interest expense 7,850 7,042 Gain on disposal of equity in unconsolidated investees (24,083) — Equity in losses of unconsolidated investees — 2,811 Deferred income taxes 17,710 (472) Loss on impairment of property, plant and equipment 157,673 442 Loss on impairment of operating lease right of use assets 7,432 — Loss on impairment of intangible assets 2,167 — Loss on impairment of goodwill 7,879 — Loss on disposal of property, plant and equipment 260 33 Write-off of other assets 21,401 — Gain on debt extinguishment (35,326) — Remeasurement loss on prepaid forward 16,082 8,570 Remeasurement loss on warrants 4,966 — Provision for (reversal of) expected credit losses 11,504 (208) Provision for (utilization of) inventory reserves 132,474 (1,351) Other, net 1,807 271 Changes in operating assets and liabilities Accounts receivable 35,132 (37,353) Inventories 23,953 (110,646) Prepaid expenses and other assets 1,139 5,498 Operating lease right-of-use assets 4,347 3,766 Advances to suppliers — 730 Accounts payable and other accrued liabilities (31,913) (52,808) Contract liabilities (167,670) 27,404 Operating lease liabilities (4,313) (2,917) Net cash used in operating activities (263,108) (177,882) Cash flows from investing activities Purchases of property, plant and equipment (48,052) (55,796) Proceeds from disposal of equity in unconsolidated investees 24,000 — Purchases of intangible assets (10) (136) Proceeds from maturity of short-term securities — 76,000 Purchase of short-term securities — (60,000) Purchase of restricted short-term marketable securities — (10) Proceeds from maturity of restricted short-term marketable securities — 971 Proceeds from disposal of property, plant and equipment 664 — Proceeds from disposal of asset held for sale 462 — Net cash used in investing activities (22,936) (38,971) Cash flows from financing activities Proceeds from debt 51,249 148,992 Repayment of debt (74,572) (175,942) Repayment of finance lease obligations (386) (477) Net proceeds from issuance and modification of convertible notes and warrants 71,418 — Net proceeds from issuance of common stock 97,270 193,531 Net cash provided by financing activities 144,979 166,104 Effect of exchange rate changes on cash, cash equivalents and restricted cash (94) 124 Net decrease in cash, cash equivalents and restricted cash (141,159) (50,625) Cash, cash equivalents and restricted cash, beginning of period 195,511 267,961 Cash, cash equivalents and restricted cash, end of period $ 54,352 $ 217,336 Non-cash transactions Property, plant and equipment purchases funded by liabilities $ 5,755 $ 10,158 Interest paid in shares 6,969 — Interest paid by issuance of convertible notes 7,977 — Right-of-use assets obtained in exchange for lease obligations 8,025 10,743 The following table reconciles our cash and cash equivalents and restricted cash reported on our Condensed Consolidated Balance Sheets and the cash, cash equivalents and restricted cash reported on our Condensed Consolidated Statements of Cash Flows as of September 29, 2024 and October 1, 2023 : (In thousands) September 29, 2024 October 1, 2023 Cash and cash equivalents $ 51,223 $ 208,100 Restricted cash, current portion, included in Prepaid expenses and other current assets 3,028 9,234 Restricted cash, net of current portion, included in Other long-term assets 101 2 Total cash, cash equivalents and restricted cash shown in Condensed Consolidated Statements of Cash Flows $ 54,352 $ 217,336 View original content to download multimedia: https://www.prnewswire.com/news-releases/maxeon-solar-technologies-announces-third-quarter-2024-financial-results-302324375.html SOURCE Maxeon Solar Technologies, Ltd. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Sherrod Brown says workers have moved away from Democratic partyAnthem Blue Cross Blue Shield reverses decision to put a time limit on anesthesia
Cowboys win wild one vs. Commanders to halt five-game slide-- Reduces total emissions by approximately 14 percent since base year -- -- Decreases water withdrawal by approximately 17 percent since base year -- -- Achieves lost-time injury rate of 0.28, representing an approximate 32 percent reduction from prior year -- MORRISVILLE, N.C. , Dec. 11, 2024 /PRNewswire/ -- Pyxus International, Inc. (OTC Pink: PYYX), a global value-added agricultural company, today published its Fiscal Year 2024 Sustainability Report detailing the measurable impacts of the Company's sustainability initiatives as it progresses toward achieving its global targets. "Fiscal year 2024 was an exceptional year for Pyxus and this report highlights the positive impacts of our environmental and social initiatives, including collaboration with our contracted growers to reduce scope 3 emissions, improvement of our employee health and safety practices, and providing support to those in need," said Pyxus President and CEO Pieter Sikkel . "We remain committed to viewing all aspects of our business through a sustainable lens, helping us progress against our targets while delivering value to our stakeholders, the environment and the communities in which we operate." Notable fiscal year 2024 sustainability achievements include: Minimal Environmental Impact Support for People and Communities Ethical and Responsible Business In preparation of this year's report, Pyxus externally verified 11 global key performance indicators (KPIs) associated with its targets, up from three KPIs in the prior year. The report was prepared with reference to Global Reporting Initiative (GRI) Standards, aligns with the United Nations Sustainable Development Goals and discloses the Company's sustainability performance from April 1, 2023 , to March 31, 2024 . About Pyxus International, Inc. Pyxus International, Inc. is a global agricultural company with more than 150 years of experience delivering value-added products and services to businesses and customers. Driven by a united purpose—to transform people's lives, so that together we can grow a better world—Pyxus International, its subsidiaries and affiliates, are trusted providers of responsibly sourced, independently verified, sustainable, and traceable products and ingredients. For more information, visit www.pyxus.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/pyxus-releases-fiscal-year-2024-sustainability-report-302329534.html SOURCE Pyxus International, Inc.Maid says she’s being forced to keep working despite wanting to quit as she “can’t take the stress” of her employer’s “mood swings”Seneca Foods stock soars to all-time high of $74.06
Matt Gaetz, the former Florida representative and Trump nominee for Attorney General, announced Thursday that he is withdrawing as Trump's pick for the top prosecutor, citing what he described as the "distraction" his nomination had caused due to a swirl of allegations about paying underage women for sex. LiveNOW from FOX host Mike Pache spoke to political expert and professor at the University of Central Florida, Larry Walker on the latest. Matt Gaetz has withdrawn as President-elect Trump’s nominee for attorney general amid controversy over past allegations. Top contenders for the role include Missouri AG Andrew Bailey, Sen. Mike Lee, and former DNI John Ratcliffe. Trump’s choice will need to navigate Senate confirmation and align with his agenda. WASHINGTON - President-elect Donald Trump’s plan to install fierce loyalist Matt Gaetz as attorney general hit a roadblock Thursday as the former Florida congressman withdrew his name from consideration amid backlash over past allegations. Gaetz’s decision leaves the Department of Justice’s top spot vacant just weeks before Trump’s new administration begins. Gaetz cited his desire to avoid being a "distraction" to the incoming administration and its transition efforts. "Trump’s DOJ must be in place and ready on Day 1," Gaetz wrote on X. Trump acknowledged the setback but praised Gaetz’s efforts: "Matt has a wonderful future, and I look forward to watching all of the great things he will do." With the DOJ vacancy now reopened, speculation has turned to who might replace Gaetz. Here are the leading contenders: Andrew Bailey (Missouri Attorney General): Bailey has positioned himself as a strong defender of conservative causes, leading lawsuits against the Biden administration. His ties to Missouri Republican Sens. Josh Hawley and Eric Schmitt could aid his Senate confirmation chances. Sen. Mike Lee (R-Utah): A constitutional conservative with a legal background, Lee would bring credibility and a relatively smooth confirmation process compared to other names. However, Lee has previously stated he prefers his current Senate role. FILE - Sen. Mike Lee, R-Utah, questions Supreme Court nominee Brett Kavanaugh as he testifies before the Senate Judiciary Committee on Capitol Hill on September 27, 2018 in Washington, DC. (Photo by Andrew Harnik - Pool/Getty Images) John Ratcliffe (Former Director of National Intelligence): Ratcliffe has a track record of loyalty to Trump and extensive experience as a federal prosecutor. His leadership during Trump’s first term makes him a familiar and trusted figure for the president-elect. Mark Paoletta (Former White House Attorney): Paoletta’s tenure during Trump’s first term showcased his hardline stance on aligning DOJ operations with the president’s agenda. His no-nonsense approach could appeal to Trump’s push for loyalty in the DOJ. Matt Whitaker (Former Acting Attorney General): Whitaker, who temporarily led the DOJ during Trump’s first term, has the advantage of familiarity with the role. He has signaled openness to serving again but has deferred to Trump for the final decision. Trump’s attorney general pick will face scrutiny from both Senate Republicans and Democrats. Gaetz’s withdrawal underscores the importance of selecting a candidate with both loyalty to Trump and a relatively clean record to avoid confirmation hurdles. Senate Republicans have hinted at their preferences. Sen. Mike Rounds (R-S.D.) suggested a nominee "the Senate recognizes and knows," while Sen. Rick Scott (R-Fla.) lamented Gaetz’s departure but expressed hope for a similarly committed nominee. The attorney general will play a pivotal role in Trump’s efforts to reshape the DOJ. Key issues include addressing claims of "weaponization" within the agency, investigating political adversaries, and managing Trump’s broader legal and policy priorities. As the search continues, Trump’s selection will signal how he plans to approach these challenges and whether he can bridge internal GOP divides while maintaining his vision for the Justice Department. The Source This report includes information from the Associated Press, FOX News, and prior reporting on Trump’s transition efforts.
Young holds 3-shot lead over Scheffler in BahamasOpinion: Congress' Troll Politics Leads To MVA's Downfall In MaharashtraNearly a year after the Biden administration gave Florida the green light to become the first state to import lower-cost prescription drugs from Canada — a longtime goal of politicians across the political spectrum, including President-elect Donald Trump — the program has yet to begin. Florida Gov. Ron DeSantis hailed the FDA’s approval of his plan in January, calling it a victory over the drug industry, which opposes importation on the grounds that it would lead to a surge in counterfeit medications. A Florida health official familiar with the importation program told KFF Health News there was no planned date yet for the state to begin importing drugs. The official asked not to be identified because they weren’t authorized to speak publicly about the program. Florida applied to create an importation program in November 2020, just months after the Trump administration gave states the option. DeSantis, a Republican, complained publicly for years about the pace of the federal approval process under the Biden administration and in 2022 filed suit against the FDA for what he called a “reckless delay .” Trump touted his administration’s move to bring medicines over the border in a preelection interview published last month by AARP , the advocacy group for older Americans, which supports allowing Americans to buy drugs from Canada. He vowed to “continue my efforts to protect Americans from unaffordable drug prices” in a second term. It’s not clear whether his second administration will or can do more to help Florida and other states set up programs, because it’s ultimately up to the states to act. Colorado is the only other state that has an importation plan pending with the FDA. DeSantis administration officials have refused for months to answer questions from KFF Health News about the program. Alecia Collins, deputy chief of staff for the Florida Agency for Health Care Administration, said in October that officials were traveling and unavailable. In mid-November, she said she still had no answers. DeSantis press secretary Jeremy Redfern said he had been “slammed” since the first week of November and could not answer questions. FDA spokesperson Cherie Duvall-Jones said she could not answer whether Florida had submitted documents the agency requires before the state can start importing medicines. She referred all questions to the state. Drug companies typically sell medications for far less in Canada than in the United States, as a result of Canadian government price controls. But because of safety and efficacy concerns, federal law prohibits consumers from buying drugs from outside U.S. borders except in rare cases. Politicians ranging from conservatives such as DeSantis to liberals such as Sen. Bernie Sanders of Vermont have long pushed for importing lower-cost prescription drugs from Canada. In 2000, Congress passed a law allowing states to import prescription drugs from north of the border, with the caveat that it could go forward only if the secretary of the Department of Health and Human Services affirmed it was safe. That didn’t happen until 2020, when Trump’s HHS secretary, Alex Azar, made such a declaration. Since 2022, Azar has been chairman of the board at LifeScience Logistics, a Dallas-based company that Florida is paying millions of dollars to set up its drug importation program, including warehousing its medicines. Azar on Nov. 13 refused to answer questions from KFF Health News about drug importation, saying he wasn’t authorized to speak on the matter. Florida’s program would not directly assist consumers at the pharmacy. It’s instead aimed at lowering costs for the state Medicaid program and for the corrections and health departments. Matthew Baxter, a senior director at Ontario-based Methapharm Specialty Pharmaceuticals, which has contracted with LifeScience to export drugs, would not say whether Methapharm has sent any medicines over the border. The pharmaceutical industry and the Canadian government oppose U.S. drug importation. Drug companies say importation would increase the risk of counterfeit drugs appearing on U.S. pharmacy shelves, while the government in Ottawa has warned it won’t allow medicines to be exported if Canadians could experience shortages as a result. Florida’s predicted savings would also be relatively minor. DeSantis estimated the program would save state agencies up to $180 million in its first year. Florida’s annual Medicaid budget tops $30 billion. Florida identified 14 drugs, including for cancer and AIDS, that it would attempt to import from Canada for its state agencies. Camm Epstein, a health policy analyst in Saratoga Springs, New York, said drug importation is a seemingly simple concept that resonates with the public, which is why DeSantis and others have turned to the idea as a response to rising drug prices. “It riles up the crowd,” he said. “Who doesn’t want to pay lower drug costs?” But bringing drugs over the border is complicated because of the FDA’s many requirements, including finding companies to work with — a Canadian exporter and a U.S. importer — and following a process that ensures the drugs are authentic, Epstein said. “This was, at best, a boondoggle,” he said. Florida has spent tens of millions of dollars to stand up its drug importation program. The state has already paid LifeScience Logistics $50 million to set up a warehouse to store the medicines. DeSantis noted the costs in his 2022 lawsuit against the FDA. “Plaintiffs have paid their retained importer and distributor over $24 million thus far — and increasing at the rate of $1.2 million every month — even though not a single prescription pill has been imported, relabeled, or distributed, solely because of the FDA’s idleness,” the state said in its suit. Florida’s delay may be due to operational challenges, Epstein said. “Predictably, even if they turned on the spigot there would be no flow, because Canada was not going to permit for the supply,” he said. Colorado and Florida are among at least nine states that have passed laws allowing for Canadian drug importation. Colorado’s 2022 application to the FDA is still pending. In December 2023, Colorado officials released a report noting the state was unable to find a drugmaker willing to sell it medicines from Canada. ( KFF Health News is a national newsroom that produces in-depth journalism about health issues and is one of the core operating programs of KFF — the independent source for health policy research, polling and journalism.) ©2024 KFF Health News. Distributed by Tribune Content Agency, LLC.
Anthem Blue Cross Blue Shield reverses decision to put a time limit on anesthesiaCooper Rush passed for two touchdowns, Dallas returned two kicks for scores and the visiting Cowboys held off the Washington Commanders in a wild fourth quarter for a 34-26 win. Dallas led 10-9 after three quarters. With Washington trailing 27-26, Jayden Daniels hit Terry McLaurin for an 86-yard touchdown pass with 21 seconds left, but Austin Seibert missed his second extra point of the game. Juanyeh Thomas of the Cowboys then returned the onside kick 43 yards for a touchdown. Rush completed 24 of 32 passes for 247 yards for Dallas (4-7), which snapped a five-game losing streak. Rico Dowdle ran 19 times for 86 yards and CeeDee Lamb had 10 catches for 67 yards. Jayden Daniels was 25-of-38 passing for 274 yards, two touchdowns and two interceptions for reeling Washington (7-5), which has lost three straight. He ran for 74 yards and one score. McLaurin had five catches for 102 yards. Trailing 20-9 late in the fourth quarter, Daniels drove Washington 69 yards in nine plays and hit Zach Ertz for a 4-yard touchdown. Daniels ran for two points and Washington trailed 20-17 with 3:02 remaining. KaVontae Turpin muffed the ensuing kickoff, picked it up at the one, and raced 99 yards for a touchdown to make it 27-17. Austin Seibert's 51-yard field goal pulled the Commanders within 27-20 with 1:40 left, With the score tied 3-3, Washington took the second half kick and went 60 yards in 10 plays. On third-and-three from the Dallas 17, Daniels faked a handoff, ran left and scored his first rushing touchdown since Week 4. Seibert missed the point after and Washington led 9-3. Dallas answered with an 80-yard drive. A 23-yard pass interference penalty gave the Cowboys a first-and-goal at the 4. Two plays later Rush found Jalen Tolbert in the end zone and the extra point made it 10-9. Brandon Aubrey's 48-yard field goal made it 13-9 with 8:11 remaining in the game. On the next play, Daniels hit John Bates for 14 yards, but Donovan Wilson forced a fumble and Dallas recovered at the Washington 44. Five plays later, Rush found Luke Schoonmaker down the middle for a 22-yard touchdown and Dallas led 20-9 with 5:16 left. The first quarter was all about field goals. Aubrey's field goal attempt was blocked on the opening drive and Michael Davis returned it to the Dallas 40. Washington later settled for Seibert's 41-yard field goal. On the next Dallas drive, Aubrey hit the right upright from 42 yards out, and then Seibert missed from 51 yards. With 14 seconds left in the half, Rush found Jalen Brooks for a 41-yard gain to the Washington 28. On the next play Aubrey connected from 46 yards to tie it. --Field Level Media
Wall Street got back to climbing after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve. The S&P 500 gained 0.8% Wednesday to break a two-day losing streak and finished just short of its all-time high. Big Tech stocks led the way, which drove the Nasdaq composite up 1.8% to top the 20,000 level for the first time. The Dow Jones Industrial Average lagged with a dip of 0.2%. Stocks got a boost as expectations built that the Fed will deliver another cut to interest rates at its meeting next week. On Wednesday: The S&P 500 rose 49.28 points, or 0.8%, to 6,084.19. The Dow Jones Industrial Average fell 99.27 points, or 0.2%, to 44,148.56. The Nasdaq composite rose 347.65 points, or 1.8%, to 20,034.89. The Russell 2000 index of smaller companies rose 11.38 points, or 0.5%, to 2,394.16. For the week: The S&P 500 is down 6.08 points, or 0.1%. The Dow is down 493.96 points, or 1.1%. The Nasdaq is up 175.12 points, or 0.9%. The Russell 2000 is down 14.84 points, or 0.6%. For the year: The S&P 500 is up 1,314.36 points, or 27.6%. The Dow is up 6,459.02 points, or 17.1%. The Nasdaq is up 5,023.54 points, or 33.5%. The Russell 2000 is up 367.09 points, or 18.1%.What a mollusc shell and fiber optic cables have in common
- Leading efficient care management for the elderly with unimpeded smartcar e h ttps://img.hankyung.com/pdsdata/pr.hankyung.com/uploads/2024/11/image01-1.png SEOUL, South Korea , Nov. 23, 2024 /PRNewswire/ -- JCF Technology is a startup that independently developed 'MecKare', a radar sensor that measures biological signals in a non-contact manner, and provides a platform service that automatically connects users and guardians in two-way emergency situations through an artificial intelligence analysis system. Since its establishment in 2016, it has developed a highly accurate non-contact multi-biological radar sensor through many years of technology accumulation, and succeeded in commercializing the product for the first time in 2021. MecKare uses microwave radar and micro-Doppler signal processing technology to measure the user's heart rate, respiratory rate, and skin temperature within 16.4 ft in real time. The sensor can measure human body movement patterns using precise and highly responsive thermal infrared rays and can detect falls through pattern analysis based on changes in human movement. In particular, the movement and change of thermal infrared rays within the measurement range are detected in real time, and the trend of biomarkers that appear as advance signs before a person falls can be checked through differential motion detection that measures the user's movement pattern. It provides an alarm in advance by predicting before a person falls, enabling accuracy and quick response to accidents. As a result, it is possible to prevent safety accidents in the elderly by detecting emergency situations such as lonely death, cardiac arrest, breathing difficulties, and falls. Additionally, unlike other existing wearable devices such as smart watches or bands, MecKare does not need to be worn or attached to the body, so it can be used remotely via Wi-Fi without causing stress to the user. https://img.hankyung.com/pdsdata/pr.hankyung.com/uploads/2024/11/image02.png MecKare can be installed in the bedroom, bathroom, living room, or entrance of a home or facilities(Assisted Living, Nursing Home, etc) to provide 24-hour monitoring without a camera and detect abnormal signs in advance using a biometric information analysis algorithm and deliver them to the guardian. MecKare's radar biometric sensor is recognized in the global market for its technology as a device that obtains precisely customized biometric information while overcoming spatial constraints and without risk of privacy infringement. MecKare is being supplied to senior care facilities in Australia , Germany , Poland , Saudi Arabia , and China . In 2025, MecKare plans to conduct verification of vital signs such as attendance, fall prevention, and asthma of elderly people living in hospitals or assisted living in conjunction with local PPOs/HMOs in the United States . In summary, MecKare is a system that reduces user inconvenience and enables management of multiple patients. By being able to provide personalized health data analysis results, it will serve as an opportunity to change the market paradigm towards preventive smart care. We expect MecKare's A.I to play a role as an innovator that complements, rather than replaces, humans in care settings. View original content: https://www.prnewswire.com/news-releases/hankyungcom-introduces-meckare-leading-the-ai-powered-innovation-in-health-monitoring-solution-302310743.html SOURCE Hankyung.com
Anthem Blue Cross Blue Shield said in a statement that its decision to backpedal resulted from “significant widespread misinformation” about the policy.Share Tweet Share Share Email Cart.com has purchased OceanX. Takeaway Points Cart.com Purchases OceanX Bill Guthy, Co-Founder and Co-Chairman of Guthy-Renker, will also serve as a strategic advisor to Cart.com. About 200 OceanX employees will join the Cart.com team as part of the transaction. The company will also add two new facilities totaling over 600,000 square feet to its network, including a west coast distribution hub in Southern California and its third facility near Columbus, Ohio. Cart.com is the leading provider of interconnected omnichannel commerce and logistics solutions that enable B2C and B2B companies. Why did Cart.com purchase OceanX? Cart.com, a leading unified commerce solutions provider, said on Tuesday that it has acquired OceanX, the wholly owned fulfillment operations arm of Guthy-Renker. The acquisition further strengthens Cart.com’s position as a leader in mid-market to enterprise logistics and expands its tech-enabled capabilities to support high-volume beauty, wellness, and lifestyle brands. Bill Guthy, Co-Founder and Co-Chairman of Guthy-Renker, will also serve as a strategic advisor to Cart.com as the company extends its multichannel selling and logistics offerings to new verticals and geographies, the company said. Omair Tariq, Cart.com’s Founder & CEO, commented, “Acquiring OceanX is part of Cart.com’s strategy to continue to scale our platform and capabilities across industries, leveraging our proprietary technology to improve efficiency and deliver superior results to our clients and their customers. By deploying our Constellation OMS and WMS software and seasoned operations team across these two new facilities, we will improve order visibility, labor efficiency, shipping costs and customer satisfaction for the benefit of our new clients.” Rick Odum, Chief Executive Officer of Guthy-Renker, said,“Cart.com has built a comprehensive, enterprise-grade logistics network with modern, digital capabilities that offer unparalleled visibility, control and efficiency for our brands. This partnership will marry our own channel and marketing expertise with their track record of driving growth and savings for high-volume, high-SKU brands, supercharging performance across our portfolio.” How many OceanX employees will join the Cart.com team? The company said that about 200 OceanX employees will join the Cart.com team as part of the transaction, and it will also add two new facilities totaling over 600,000 square feet to its network, including a west coast distribution hub in Southern California and its third facility near Columbus, Ohio. The company now has 17 omnichannel fulfillment and distribution centers with nearly 10 million square feet and over 1,600 team members. Through the acquisition, Cart.com will enable many iconic brands , including Meaningful Beauty, The Body Firm, Smileactives, and Westmore Beauty, to see, control, and orchestrate their supply chains with the same sophistication as the world’s most dominant retailers, the report stated. ABOUT CART.COM Cart.com is the leading provider of interconnected omnichannel commerce and logistics solutions that enable B2C and B2B companies as well as public sector agencies to unify order and inventory management from product discovery to product delivery. The company’s enterprise-grade software, services and logistics infrastructure, including its own network of fulfillment and distribution centers, are used by some of the world’s most beloved brands and complex companies to achieve omnichannel excellence and drive more efficient growth. Related Items: Cart.com , logistics , OceanX Share Tweet Share Share Email Recommended for you Impact of Automation on Freight Shipping and Logistics Revolutionizing Logistics: Insights on AI, Automation, and Distributed Team Leadership from Industry Veteran Anupam Narayan How U.S. D2C Brands Can Expand Internationally Using a 3PL Comments
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