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AVALON HOLDINGS CORPORATION ANNOUNCES 2023 FULL YEAR AND FOURTH QUARTER RESULTS - Avalon Holdings (AMEX:AWX) 2024-03-21 22:01:00+00:00 - Loading... Loading... WARREN, Ohio, March 21, 2024 /PRNewswire/ -- Avalon Holdings Corporation AWX today announced financial results for the fourth quarter and fiscal year ended December 31, 2023. Net operating revenues in the fourth quarter of 2023 were $17.6 million compared with $21.6 million in the fourth quarter of 2022. The Company recorded a net loss attributable to Avalon Holdings Corporation common shareholders of $0.8 million in the fourth quarter of 2023 compared with a net loss attributable to Avalon Holdings Corporation common shareholders of $1.0 million in the fourth quarter of 2022. For the fourth quarter of 2023, basic net loss per share attributable to Avalon Holdings Corporation common shareholders was $0.21 compared with basic net loss per share attributable to Avalon Holdings Corporation common shareholders of $0.25 in the fourth quarter of 2022. For the year ended December 31, 2023, net operating revenues were $80.5 million compared with $81.2 million for the year ended December 31, 2022. The Company recorded a net loss attributable to Avalon Holdings Corporation common shareholders of $1.8 million for the year ended December 31, 2023 compared with net income attributable to Avalon Holdings Corporation common shareholders of $0.6 million for the year ended December 31, 2022. For the year ended December 31, 2023, basic net loss per share attributable to Avalon Holdings Corporation common shareholders was $0.46 compared with basic net income per share attributable to Avalon Holdings Corporation common shareholders of $0.15 for year ended December 31, 2022. Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets, captive landfill management services and salt water injection well operations. Avalon Holdings Corporation also owns Avalon Resorts and Clubs Inc., which includes the operation of a hotel and its associated resort amenities, four golf courses and related country clubs and a multipurpose recreation center. AVALON HOLDINGS CORPORATION AND SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited) (in thousands, except for per share amounts) Three Months Ended Year Ended December 31, December 31, 2023 2022 2023 2022 Net operating revenues: Waste management services $ 9,917 $ 14,671 $ 44,611 $ 49,763 Food, beverage and merchandise sales 2,914 2,832 13,491 12,137 Other golf and related operations 4,786 4,133 22,413 19,280 Total golf and related operations 7,700 6,965 35,904 31,417 Total net operating revenues 17,617 21,636 80,515 81,180 Costs and expenses: Waste management services operating costs 7,776 12,137 35,642 40,380 Cost of food, beverage and merchandise 1,500 1,506 6,318 5,500 Golf and related operations operating costs 5,433 5,040 24,775 21,337 Depreciation and amortization expense 968 930 3,826 3,483 Selling, general and administrative expenses 2,381 2,615 10,227 10,133 Operating (loss) income (441) (592) (273) 347 Other income (expense): Interest expense (525) (504) (2,098) (1,464) Other income, net 61 26 384 231 Loss before income taxes (905) (1,070) (1,987) (886) Provision for income taxes (36) (14) 57 94 Net loss (869) (1,056) (2,044) (980) Less net loss attributable to non-controlling interest in subsidiaries (38) (83) (269) (397) Net loss attributable to Avalon Holdings Corporation common shareholders $ (831) $ (973) $ (1,775) $ (583) Loss per share attributable to Avalon Holdings Corporation common shareholders: Basic net loss per share $ (0.21) $ (0.25) $ (0.46) $ (0.15) Weighted average shares outstanding - basic 3,899 3,899 3,899 3,899 AVALON HOLDINGS CORPORATION AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) (in thousands) December 31, December 31, 2023 2022 Assets Current Assets: Cash and cash equivalents $ 1,187 $ 1,624 Accounts receivable, net 9,499 11,127 Unbilled membership dues receivable 567 599 Inventories 1,662 1,461 Prepaid expenses 1,116 1,172 Other current assets 14 105 Total current assets 14,045 16,088 Property and equipment, net 56,630 56,805 Property and equipment under finance leases, net 5,711 5,001 Operating lease right-of-use assets 1,270 1,386 Restricted cash 10,265 10,426 Noncurrent deferred tax asset 8 8 Other assets, net 36 36 Total assets $ 87,965 $ 89,750 Liabilities and Equity Current liabilities: Current portion of long term debt $ 538 $ 503 Current portion of obligations under finance leases 198 115 Current portion of obligations under operating leases 432 424 Accounts payable 9,657 10,995 Accrued payroll and other compensation 1,277 989 Other taxes 539 643 Deferred membership dues revenue 3,443 3,643 Other liabilities and accrued expenses 1,825 1,544 Total current liabilities 17,909 18,856 Long term debt, net of current portion 29,220 29,758 Line of credit 3,200 1,550 Obligations under finance leases, net of current portion 598 381 Obligations under operating leases, net of current portion 838 962 Asset retirement obligation 100 100 Equity: Total Avalon Holdings Corporation Shareholders' Equity 36,716 38,490 Non-controlling interest in subsidiaries (616) (347) Total shareholders' equity 36,100 38,143 Total liabilities and equity $ 87,965 $ 89,750 SOURCE Avalon Holdings Corporation

US accuses Apple of ‘broad, sustained, and illegal’ smartphone monopoly 2024-03-21 21:57:00+00:00 - The US government on Thursday filed a sprawling antitrust case against Apple, alleging that the tech giant has illegally prevented competition by restricting access to its software and hardware. The case is a direct challenge to the company’s core products and practices, including its iMessage service and how devices such as the iPhone and Apple Watch connect with one another. The lawsuit, filed in federal court in New Jersey, alleges that Apple has monopoly power in the smartphone market and uses its control over the iPhone to “engage in a broad, sustained, and illegal course of conduct”. The complaint states that the case is about “freeing smartphone markets” from Apple’s anticompetitive practices, arguing that the company has thwarted innovation to maintain market dominance. “Apple has maintained its power not because of its superiority, but because of its unlawful exclusionary behavior,” the US attorney general, Merrick Garland, stated in a press conference on Thursday. “Monopolies like Apple’s threaten the free and fair markets upon which our economy is based.” The US Department of Justice’s suit against Apple is a landmark case targeting the most valuable publicly traded company in the world and follows a raft of antitrust suits aimed at big tech. Amazon, Apple, Meta and Google have all faced investigations from regulators in recent years, both in the United States and Europe, over allegations that they have consolidated power while illegally stifling competition. All boast market capitalizations above a trillion dollars. Apple has rejected the allegations in the lawsuit, saying that it threatened the company’s core operations. “This lawsuit threatens who we are and the principles that set Apple products apart in fiercely competitive markets. If successful, it would hinder our ability to create the kind of technology people expect from Apple – where hardware, software, and services intersect,” a spokesperson from Apple said in a statement. “It would also set a dangerous precedent, empowering government to take a heavy hand in designing people’s technology. We believe this lawsuit is wrong on the facts and the law, and we will vigorously defend against it.” Central to the case is whether Apple’s strategy of blocking rival companies from accessing various proprietary features such as its iMessage instant messaging service and Siri virtual assistant constitutes anticompetitive practices. The case will also examine whether Apple making its devices easily integrate with each other, but not with non-Apple products, creates unfair hardware limitations that block competitors from the market. The Department of Justice’s complaint alleges that Apple has taken several anticompetitive actions, including blocking innovative apps, diminishing the functionality of non-Apple smartwatches, limiting third-party digital wallets and suppressing cross-platform messaging. The complaint argues this has resulted in higher prices for consumers as the company suffocates meaningful competition. “Apple creates barriers and makes it extremely difficult and expensive for both users and developers to venture outside the Apple ecosystem,” Garland said. The complaint alleges that these practices go back over a decade, and is part of a longstanding playbook at the company to target other technology that threatens its hold over the market. The lawsuit is seeking several changes to Apple’s business practices and to pay an unspecified amount of money as a penalty for its actions. It asks the court to prevent Apple from using terms and conditions in its contracts to entrench its monopoly, as well as to stop the company from using its app store and private APIs to halt the distribution of cross-platform technologies. Apple controls a large portion of the smartphone market, surpassing Samsung last year to become the industry’s top phone maker, and it frequently emphasizes a smooth compatibility between its products. Opposing tech companies, Google chief among them, have characterized Apple’s features as creating a walled garden to the detriment of consumers, and encouraged regulators to investigate those practices. Apple agreed to improve texting between iPhones and Androids in November. A recent saga that drew regulators’ attention was Apple’s interactions with the messaging startup Beeper, which last year launched a product that would allow non-iPhone users to send and receive iMessages. Beeper debuted its “Beeper Mini” app in December, but less than a week later Apple appeared to find ways to disable the app’s functions and issued a vague statement citing privacy and security concerns. Beeper tried to restore its services, resulting in a back-and-forth between the companies that ultimately ended with Apple blocking outside access to its iMessage capabilities. “As much as we want to fight for what we believe is a fantastic product that really should exist, the truth is that we can’t win a cat-and-mouse game with the largest company on earth,” Beeper’s CEO, Eric Migicovsky, said afterward in a statement on the company’s blog. Executives from Beeper spoke with investigators in recent months, according to the New York Times, along with executives from the tracking service Tile. Apple’s AirTags product provides a similar function as Tile, and representatives from the Tile have repeatedly called on regulators and lawmakers to look into potential antitrust violations. Media speculation and anticipation around the antitrust suit has been building since the beginning of the year, with numerous reports that the government was in the final stages of filing. Apple’s lawyers met with an assistant attorney general, Jonathan Kanter, in February, Bloomberg reported, in a last-ditch attempt to dissuade the justice department from pursuing its case. The justice department has been looking into whether Apple violated antitrust laws since at least 2019, when the bureau began a wider push into investigating big tech’s anticompetitive practices. That effort has culminated in several high-profile antitrust cases, including a case focused on Google’s search engine that went to trial in 2023 and another based on Google’s advertising business that is set for later this year. The Federal Trade Commission has meanwhile launched antitrust suits against Facebook’s parent company Meta and Amazon, both of which have yet to go to trial. European regulators are also applying pressure to Apple, including the European Commission issuing a €1.8bn ($1.95bn) fine for breaking anti-competition laws. That investigation began after Spotify complained to regulators that Apple was imposing restrictions on its app store that damaged other music streaming providers in order to benefit Apple Music.

OverActive Media Announces Senior Leadership Change - OverActive Media (OTC:OAMCF) 2024-03-21 21:56:00+00:00 - Loading... Loading... TORONTO, March 21, 2024 /CNW/ - OverActive Media OAM ("OverActive" or the "Company"), a premier global esports and entertainment company for today's generation of fans, today announced that its Senior Vice-President of Partnerships and Revenue, Tyler Keenan, will be departing. Mr. Keenan's last day with the Company will be March 22, 2024. "Tyler has been pivotal in refining our brand-focused sponsorship strategy. His contributions have significantly shaped our company's trajectory. We are deeply grateful for his efforts and wish him all the best in his future endeavors," said Adam Adamou, Co-Founder and CEO, OverActive Media. "OAM is implementing operational improvements following the recently announced acquisitions of KOI and Movistar Riders. Our immediate objective is to seamlessly merge our operations within the EMEA region, simultaneously identifying paths for organic growth and strategic acquisitions in North America." ABOUT OVERACTIVE MEDIA OverActive Media Corp. OAM is headquartered in Toronto, Ontario, with operations in Madrid, Spain and Berlin, Germany. OverActive's mandate is to build an integrated global company delivering sports, media and entertainment products for today's generation of fans with a focus on esports, videogames, content creation and distribution, culture, and live and online events. OverActive owns team franchises in professional esports leagues, including the Call of Duty League, operating as the Toronto Ultra, the League of Legends EMEA Championship (LEC), operating as MAD Lions KOI, the VALORANT Champions League (VCT) EMEA, operating as Movistar KOI and other professional esports leagues and competitions. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of OverActive with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding the anticipated financial and operating results of OverActive in the future. Investors are cautioned that forward-looking statements are not based on historical facts but instead OverActive management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although OverActive believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the OverActive. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements include the following: the potential impact of OverActive's qualifying transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; the ability of the Company to continue to execute on its existing partnerships and business strategy; the ability of the MAD Lions and Call of Duty Leagues to maintain viewership; the successful completion of the Company's new venue; and other risk factors set out in OverActive's annual information form for the year ended December 31, 2021 and its other filings with Canadian securities regulators, copies of which may be found under OverActive's profile at www.sedarplus.ca. These forward-looking statements may be affected by risks and uncertainties in the business of OverActive and general market conditions, including COVID-19. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although OverActive has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. OverActive does not intend and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. SOURCE OverActive Media

Intense video from aboard a French frigate shows the combat kill of a ballistic missile in the Red Sea 2024-03-21 21:52:21+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Newly released footage from a French frigate operating in the southern Red Sea shows the warship shooting down a Houthi ballistic missile on Thursday. The frigate, which is deployed to the region as part of the European Union security mission Operation Aspides, destroyed three ballistic missiles during the incident, marking one of the latest engagements between Western navies and the Iran-backed Houthis. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Related stories In the video, shared to social media by the French military, sailors can be seen working on the bridge. A surface-to-air missile is then fired from a launcher. A short time later, it intercepts a target in the air. EUNAVFOR ASPIDES 🇪🇺 Interception de 3 missiles balistiques en provenance du Yémen ciblant la position de la frégate 🇫🇷 et du porte-conteneurs qu'elle accompagnait. De Suez à Ormuz, notre engagement au profit de la liberté de navigation et la sûreté maritime se poursuit. https://t.co/bTfrFx24ee pic.twitter.com/gODY0YifZn — Armée française - Opérations militaires (@EtatMajorFR) March 21, 2024 France is one of several countries working alongside the US Navy to protect international shipping lanes from the Houthis, who have spent months relentlessly firing drones and missiles at vessels sailing off the coast of Yemen. Advertisement Gen. Michael Kurilla, commander of US Central Command, or CENTCOM, told lawmakers on Thursday that French forces destroyed two Houthi anti-ship ballistic missiles earlier in the day, likely referencing this incident, which at the time had yet to be confirmed by Paris. The Houthis started firing anti-ship ballistic missiles at the end of 2023, marking the first time that such weapons have been used in combat. The rebels have since fired these missiles regularly, recently using them to sink their first vessel and stage their first fatal attack — both occurred within the past few weeks. French sailors watch a missile launch. French Navy photo Beyond anti-ship ballistic missiles, the Houthis have also launched anti-ship cruise missiles, one-way attack drones, and unmanned surface vehicles, or USVs, which are essentially drone boats packed with explosives. While the Houthis have not managed to hit US or coalition warships, engagements between the two sides are happening on a near-daily basis. Advertisement Alongside the French action on Thursday, for example, German and American forces each destroyed a Houthi drone boat, Kurilla said during testimony to the House Armed Services Committee. A French warship intercepts a Houthi missile. French Navy photo US forces also routinely conduct preemptive strikes in Yemen, destroying Houthi missiles and drones before the rebels have a chance to launch them into the Red Sea or Gulf of Aden. Meanwhile, the EU's Operation Aspides — which has now been active for more than a month — said on Wednesday that a French helicopter shot down a Houthi drone that posed a threat to commercial ships.

Utah Business Magazine Recognizes Sterling Nielsen as One of Utah's 2024 Top CEOs 2024-03-21 21:51:00+00:00 - Loading... Loading... SANDY, Utah, March 21, 2024 (GLOBE NEWSWIRE) -- At an award ceremony earlier today, Sterling Nielsen, president and CEO of Mountain America Credit Union, was recognized by Utah Business Magazine as one of Utah's 2024 CEOs of the Year. This recognition celebrates Nielsen's outstanding leadership, innovation, and commitment to excellence within the financial sector. Nielsen's tenure as CEO at Mountain America is distinguished by his unique approach, blending values-based growth, innovative risk-taking, and conservative financial management. Despite the challenges of the pandemic, his contributions enabled Mountain America to grow to nearly $20 billion in assets now ranking among the top 10 largest credit unions in the nation. A Media Snippet accompanying this announcement is available by clicking on this link. "Working with Sterling Nielsen has been an incredible journey," says Scott Burt, Mountain America Credit Union board chair. "His focus on our members, nurturing talent, and community involvement has shaped Mountain America's culture. Sterling's leadership has made a remarkable difference in our commitment to serving our members and communities." Mountain America's impressive net promoter score (NPS) of 84 underscores Nielsen's success in improving member service. A net promoter score is a customer loyalty metric that captures how likely someone is to recommend a business. Despite its nearly 90-year history, Mountain America was recognized as a FAST 50 company by Utah Business Magazine for the last two years and honored with the Glassdoor Best Companies to Work For award in 2022. For more information about Utah Business Magazine, please visit https://www.utahbusiness.com/ About Mountain America Credit Union With more than 1.3 million members and $19 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with various convenient, flexible products and services and sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across six states, and over 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com . Contact: publicrelations@macu.com , macu.com/newsroom

Microsoft initiated, Broadcom upgraded: Wall Street's top analyst calls 2024-03-21 21:49:00+00:00 - The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly. Top Upgrades: Rosenblatt upgraded Warner Bros. Discovery (WBD) to Neutral from Sell with a price target of $10, up from $7. If Paramount is broken up, Warner Bros. Discovery would be perceived as likely to, as well, with similar puts/takes, the firm tells investors. Rosenblatt upgraded Paramount (PARA) to Neutral from Sell with a price target of $13, up from $9. The Ellison family's Skydance is reported to be in talks to buy the Redstone family's National Amusements, which owns 10% of Paramount equity but 77% of Paramount's voting rights, while Apollo's (APO) reported studio offer highlights the studio asset value, the firm tells investors. Northland upgraded Fabrinet (FN) to Outperform from Market Perform with a price target of $220, up from $200. The firm views the recent pullback as "overdone" and believes the company remains well positioned to benefit from growth in AI data center at top customer Nvidia (NVDA) and more broadly at 800G and eventually 1.6T given increasing AI driven throughput. Argus upgraded Micron (MU) to Buy from Hold with a $140 price target. The company posted a "solid" Q2 profit against expectations of losses, while its revenue was "well above" the high end of prior guidance range, the firm tells investors in a research note. TD Cowen upgraded Broadcom (AVGO) to Outperform from Market Perform with a price target of $1,500, up from $1,400, following the company's artificial intelligence infrastructure event. The firm sees potential upside from both Broadcom's custom silicon and back-end AI networking, as well as from synergies as VMWare is integrated. Top Downgrades: Roth MKM downgraded JinkoSolar (JKS) to Neutral from Buy with a price target of $25, down from $50. The firm states that its rating change is pending the company improving its profitability profile, adding that while the industry is struggling through an oversupply situation, JinkoSolar is in a strong position to consolidate share with its leading TOPCon/cost structure. Stephens downgraded Centene (CNC) to Equal Weight from Overweight with a price target of $85, down from $92. The business and stock performance have been "firmly locked into a largely repetitive 'one-step forward, one-step back' cycle" over the past two years, says the firm, which adds that the disappointing Texas STAR and CHIP Medicaid RFP outcome "continued this trend into 2024." Top Initiations: KeyBanc initiated coverage of Microsoft (MSFT) with an Overweight rating and $490 price target. Microsoft "sits in the catbird seat in two of the three main ways software vendors can monetize the AI wave," with Azure and the suite of copilots being rolled out across Office and elsewhere in the product portfolio, the firm tells investors. KeyBanc initiated coverage of ServiceNow (NOW) with an Overweight rating and $1,000 price target, citing a belief it is "the best platform play in a sector that continues to search for platforms." KeyBanc initiated coverage of Oracle (ORCL) with an Overweight rating and $150 price target. While Oracle is in the "unenviable situation where its entire quarter is defined by a single number," namely Oracle Cloud Infrastructure growth in constant currency, the firm believes it "can build a legitimate fourth" U.S.-based public cloud of scale and expects standalone OCI growth to remain above 50% this year and into next. KeyBanc initiated coverage of Salesforce (CRM) with a Sector Weight rating and no price target. While noting that the firm's estimates are above consensus on "a few metrics in the near term" and giving the company credit for "living under a totally new operating regime," the firm thinks that to be more bullish investors are going to have to assume that incremental margins will sustainably be "some of the best in software," the data cloud can remain in hypergrowth for the next several years, that the buyback authorization is drained in the next 18-24 months, and that the multiple will expand.

Revolutionary Study by CarambolaAI Reveals Contextual Social Units Outperform Traditional Ad Banners in Mobile 2024-03-21 21:43:00+00:00 - Loading... Loading... TEL AVIV, Israel, March 21, 2024 /PRNewswire/ -- In a groundbreaking study, CarambolaAI has unveiled compelling evidence that its innovative contextual social units significantly enhance mobile user engagement compared to traditional ad banners. This research, involving a detailed analysis of user interaction patterns on mobile devices, marks a pivotal moment in digital advertising, highlighting the effectiveness of CarambolaAI's technology in boosting user engagement and session durations on mobile web pages. Study Methodology The study embarked on a controlled experiment with 5,000 Android mobile device users. Participants were evenly split into two groups for a fair and unbiased comparison. Group A interacted with mobile web pages featuring CarambolaAI's contextual social units, while Group B engaged with the same pages but encountered classic ad banners instead. To maintain consistency and objectivity, both ad formats were identical in size (300X600 px) and positioned similarly across the sites. The experiment utilized viewport tracking tools to monitor and record user interactions across both groups, ensuring equal viewing durations for a comprehensive analysis. Subsequent data was translated into heatmaps, including Scroll-maps and Click-maps, to visually articulate user engagement and interaction patterns. Key Findings The analysis unveiled notable differences in user behavior between the two groups. Group A, exposed to CarambolaAI's social units, demonstrated a 27% increase in page scrolling depth compared to Group B, highlighting the engaging nature of CarambolaAI's units. Furthermore, click pattern analysis showed a significantly higher frequency of interactions within CarambolaAI's units, underscoring the enhanced engagement these units foster compared to traditional ad banners. Conclusion and Implications The study conclusively demonstrates that CarambolaAI's contextual social units dramatically outshine traditional ad banners in mobile environments. By promoting deeper engagement and longer user sessions, these units not only enhance ad monetization potential for publishers but also significantly improve the overall user experience. The findings of this study underscore the importance of innovative advertising solutions in capturing and maintaining user attention in the increasingly competitive mobile ecosystem. CarambolaAI's commitment to redefining user engagement through cutting-edge technology has once again been validated, setting a new benchmark for mobile advertising effectiveness. About CarambolaAI CarambolaAI is at the forefront of digital advertising innovation, specializing in developing contextual social units designed to enhance user engagement and optimize ad monetization. With a focus on leveraging advanced AI and machine learning technologies, CarambolaAI is dedicated to transforming the mobile user experience for publishers and advertisers alike. Loading... Loading... https://carambola.com Contact: Pnina Castiel, Customer Success Manager at CarambolaAI pnina@carambo.la Photo - https://mma.prnewswire.com/media/2368803/Carambola.jpg SOURCE Carambola

Human composting as alternative to burial and cremation gets final approval by Delaware lawmakers 2024-03-21 21:40:29+00:00 - DOVER, Del. (AP) — The Delaware Senate gave final approval Thursday to a bill allowing the composting of human bodies as an alternative to burial or cremation. The measure passed on a 14-7 vote and now goes to Democratic Gov. John Carney. The legislation authorizes a practice called natural organic reduction, which is often referred to as human composting. Human composting is currently legal in Washington, Colorado, Oregon, Vermont, California, New York and Nevada, and legislation has been introduced in more than a dozen other states. Supporters of the practice say it is an environmentally friendly and less costly alternative to traditional burials and cremation that uses less energy and doesn’t involve the use of formaldehyde or the release of carbon dioxide and mercury into the atmosphere. They also say it will help reduce the amount of land needed for cemeteries and the amount of timber harvested for caskets. Senate sponsor Laura Sturgeon said natural organic reduction is a “sophisticated process” that uses cutting-edge technology and engineering to accelerate the process of turning a human body into soil. “This choice may not be for everyone, but we can respect those who wish to turn their bodies into soil by allowing this sustainable death care option to be available in Delaware,” Sturgeon said. If the bill is enacted into law, state officials would have up to a year to develop specific regulations. The organic reduction process involves putting a body into a large tank that also holds straw, wood chips or other natural materials for about 30 days. The human remains and organic materials would mix with warm air and be periodically turned until the body is reduced to a soil-like material that can then be given to the dead person’s family. Under the bill, remains could not be accepted for composting if they contain radioactive implants, or if the person died as the result of a radiological incident. Also off-limits would be the remains of those suspected of having certain infections, such as the Ebola virus or diseases that can affect both animals and humans and lead to incurable neurodegenerative disorders, such as mad cow disease. Testing in other states that allow the practice has found the resulting soil to be “high quality and regenerative,” according to bill supporters. “That is completely safe for any use,” said Chris DiPietro, a lobbyist testifying in favor the bill. Some people use the soil from a loved one’s composting to plant a tree to remember them, he added. Opponents suggested that human composting is disrespectful. “I really have a tough time accepting the idea of composting a human body,” Sen. David Lawson said. “It just doesn’t comport with my upbringing, my religion and my belief that God designed us, and we deserve a bit more respect than being turned into tomato food.”

Diablo 4 Season 4 Delayed to Incorporate Player Feedback: Here's What To Expect - Microsoft (NASDAQ:MSFT) 2024-03-21 21:40:00+00:00 - Loading... Loading... Microsoft Corp.'s MSFT Blizzard Entertainment has announced a delay in the release of Diablo 4 Season 4, pushing it back to May 14, 2024, from the previously scheduled April 16 date. The delay was revealed during the Campfire Chat series, citing the need for more time to incorporate feedback from the upcoming Public Test Realm (PTR), which will run from April 2 to April 9. See Also: Diablo 4's Annual Expansion Strategy - What Gamers Can Expect Diablo Community Lead Adam Fletcher explained the decision was "to make sure that all of these new system changes are right and work for the community based off of everyone’s feedback." The delay means Season 3, dubbed Season of the Construct, will be extended by an additional month. In-game, players will soon notice the updated schedule reflected. Additionally, PTR will be exclusive to PC Battle.Net users this time to increase agility, though Blizzard is exploring other avenues for future PTR accessibility. Season 3 brought significant changes, including class adjustments and new items to enhance various builds. Season 4 promises to be substantial, with Blizzard teasing an itemization rework that could significantly impact gameplay. In related news, Diablo 4 will join Xbox Game Pass on March 28, allowing subscribers to enjoy Season 3 before Season 4's launch. Read Next: Leaked Survey - Is Blizzard Contemplating A $100 Price Tag For Diablo IV's Vessel Of Hatred Expansion? Image credits: Shutterstock.

Nike beats holiday revenue estimates — but its China sales are slowing down 2024-03-21 21:33:00+00:00 - The Nike logo is displayed at a Nike Well Collective store on February 16, 2024 in Glendale, California. Nike 's China sales continued to slow during its holiday quarter, but the retailer beat estimates on the top and bottom line, helped by better than expected growth in North America and price changes. Here's how the company performed compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: 77 cents vs. 74 cents expected Revenue: $12.43 billion vs. $12.28 billion expected Nike shares dropped 5% in extended trading. The company's reported net income for the three-month period that ended Feb. 29 was $1.17 billion, or 77 cents per share, compared with $1.24 billion, or 79 cents per share, a year earlier. Excluding 21 cents per share related to restructuring charges, earnings per share would have been 98 cents, the company said. Sales rose to $12.43 billion, up slightly from $12.39 billion a year earlier. In North America, where demand has been unsteady, sales rose about 3% to $5.07 billion, compared with estimates of $4.75 billion, according to StreetAccount. Meanwhile, sales in the rest of Nike's regions came in below estimates. In China, sales reached $2.08 billion, just below the $2.09 billion analysts had expected. Revenues in the region climbed 5%, but growth there has decelerated as demand normalizes after Covid-19 lockdowns. In Europe, the Middle East and Africa, revenue fell 3% to $3.14 billion, worse than the $3.17 billion that analysts had expected, according to StreetAccount. In China, sales grew 5% to $2.08 billion, just below the $2.09 billion analysts had expected. Sales in Asia Pacific and Latin America rose 3% to $1.65 billion, below the $1.69 billion analysts had expected, according to StreetAccount. As consumers pull back on spending on discretionary items like clothes and shoes, Nike has spent the past few months focused on what it can control: cutting costs and becoming more efficient so it can drive profits and protect its margins. In December, it announced a broad restructuring plan to reduce costs by about $2 billion over the next three years. It also cut its sales guidance as it warned of softer demand in the quarters ahead. Two months later, it said it was shedding 2% of its workforce, or more than 1,500 jobs, so it could invest in its growth areas, such as running, the women's category and the Jordan brand. The early innings of Nike's cost cuts, which involve simplifying its assortment, reducing management layers and increasing automation, likely helped the retailer beat earnings expectations in the three months ended Nov. 30, even as it missed sales estimates for the second quarter in a row. The cuts, along with "strategic pricing actions and lower ocean freight rates," also contributed to a 1.7 percentage point gain in gross margin — the first time the company saw its gross margin increase compared to the prior year in at least six quarters. Nike's gross margin recovery continued during the quarter. The retailer's gross margin grew by 1.5 percentage points to 44.8%, driven by "strategic pricing actions and lower ocean freight and logistics costs." The gains were partially offset by higher product input costs and restructuring charges, company said. Nike is still considered a market leader in the sneaker and apparel space, but the category has become more crowded and the retailer has had to work harder to compete. Some analysts say its assortment has lost focus and say the company has fallen behind on innovation, giving up market share to newer entrants like Hoka and On Running, as well as legacy brands like Brooks Running and New Balance. Last month, Nike launched the Book 1, its latest basketball shoes with NBA star Devin Booker. But the release wasn't well received because it "looked more like a casual sneaker instead of [a] basketball shoe," according to a research note from Jane Hali & Associates. The firm is now neutral on Nike long term, compared to its previous rating of positive, because it's unclear where the brand is headed, said senior analyst Jessica Ramirez. She's noticed that Nike has removed a lot of products from its offering, which indicates it's preparing to bring in new styles. But it's still unclear exactly what those changes will look like. "They've already said [those changes are] going to take some time," Ramirez told CNBC prior to Nike's earnings release. "Its a little concerning to know they don't have a solid plan that we know of yet." Read the full earnings release here.

North Korea's ramped up weapons testing is running through a 'to-do' list, US official says as it issues new warnings 2024-03-21 21:32:02+00:00 - North Korea's ramped up weapons development and testing in recent years, going down a "to-do list," a US official said. The priorities range from ballistic missile tests and underwater drone development to satellite capabilities. Kim and Putin's partnership could be getting North Korea invaluable access for weapons it wants. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement North Korea's been ramping up its testing of weapons and important related systems, working through a "to-do list," a US official said, and its causing some alarm among the US and its allies. And with Russia becoming a closer partner, North Korea could be getting the help it needs to fill critical gaps in the development of key technologies, such as underwater drones and satellites. "They have been doing a lot of weapons demonstrations," said US State Department Deputy Assistant Secretary Jung H. Pak at a Monday event at the Center for Strategic and International Studies. "They've also, since January of 2021, said that they're going to do a whole series of tests and develop new technologies." Of those, Pak referred to hypersonic systems, unmanned underwater vessels, solid-fuel intercontinental ballistic missiles, and reconnaissance satellites. North Korean leader Kim Jong-Un publicly vowed in 2021 to work to introduce these weapons to counter what he called growing US hostility in the region. Advertisement "They had a list, they had a to-do list, and they've been developing and testing those capabilities," Pak said. The ramp up in testing has probably been best demonstrated by its ballistic missile tests. In 2021, North Korea tested just eight missiles; in 2023, 33. Missile testing frequently occurs in response to perceived provocations, such as joint military exercises between the US and South Korea, but they aren't strictly reactions. On Monday, North Korea launched multiple short range ballistic missiles into its eastern waters, South Korea reported. Related stories And on Wednesday, state media said North Korea had successfully tested a solid-fuel engine for a new intermediate-range hypersonic missile, adding that Kim viewed the strategic value of the new missile as being able to target US territory and that "enemies know better about it." Advertisement This week's tests were the first in over month, coming on the heels of a major, 11-day joint US-South Korea military drill. Throughout the exercise, North Korea also conducted its own exercises, with various tank, artillery, and paratrooper operations. While it remains unclear how successful weapons testing has been for North Korea, the prioritization has given US officials pause. After Monday's test, a State Department spokesperson called on North Korea to "refrain from further provocative, destabilizing actions and return to diplomacy," a common response. At the CSIS panel, Pak echoed similar sentiments. "We're incredibly concerned about all of these developments," she said, but she noted that there isn't clear evidence indicating the potential for a near-term attack. She said that didn't seem in Kim's best interest. "But of course, we're always watchful of anything that, the gray zone activities," she added. Advertisement The US has slapped North Korea with more sanctions in recent years in reaction to its testing, such as ones imposed in October 2022, as well as sanctions related to its weapons transfers to Russia to stopgap ammunition supplies. That closer relationship between Russia and North Korea, identified since Kim and Russian President Vladimir Putin met last September to discuss an arms deal, has also raised concerns for US officials, who worry about what potential technologies and capabilities Russia could offer Kim in exchange for ammo for the war in Ukraine. "North Korea certainly is not doing this for free," Pak said. "They're almost certainly looking for things like fighter aircraft, surface-to-air missiles, ballistic missile technologies, and other technologies or armored vehicles," she said, adding that there was a lot Russia could provide. There are many ways North Korea could benefit from this arrangement. It also gets to see how some of its weapons perform in combat, including its ballistic missiles, and that information could prove invaluable.

Need to ‘borrow’ miles from your kid to get that free flight? A big airline will let you do that 2024-03-21 21:25:36+00:00 - CHICAGO (AP) — Don’t have enough airline miles for that free flight? United Airlines is now letting people pool and share their frequent-flyer points with family and friends, a feature currently offered by some smaller carriers. United said Thursday that a “pool leader” can pick up to four other people to set up a joint account in its MileagePlus program. The group leader must be over 18, but there is no minimum age for others, so parents can sign up kids. Everyone in the pool must have their own United frequent-flyer account. JetBlue Airways, Spirit Airlines and Frontier Airlines already offer pooling, with the rules varying a bit from one to another. Frequent-flyer programs remain popular despite complaints that the value of miles and points decline over time because airlines raise the requirements for redeeming them for flights or other items. The programs are valuable to the airlines by increasing customer loyalty and giving consumers a reason to get an airline-branded credit card. United’s credit cards are issued by Chase. United points are in the middle of the pack for value among programs at U.S. and international airlines, according to a recent analysis by the consumer site NerdWallet.

3 Reasons to Buy the Vanguard Growth ETF Like There's No Tomorrow 2024-03-21 21:15:00+00:00 - When it comes to stock investing, I always tell people not to make it more complicated than it has to be. It can be exciting to invest in The Next Big Thing and hit it big on returns, but sometimes overthinking it can do more harm than good. Often, all you need to invest and receive worthwhile returns is an exchange-traded fund (ETF) that covers a lot of ground with a single investment. One ETF that can be a staple in your portfolio is the Vanguard Growth ETF (NYSEMKT: VUG). It checks off many boxes and has provided market-beating returns. Need more convincing? Check out these three reasons the Vanguard Growth ETF is a good go-to investment. 1. The ETF is led by some of the world's top companies The Vanguard Growth ETF is made up of 208 stocks, but only a handful of companies lead the charge. The ETF is market-capitalization weighted, so larger companies account for more of the fund than others. Below are the ETF's top 10 holdings: Company Percentage of the Fund Microsoft 12.84% Apple 11.15% Nvidia 7.75% Amazon 6.87% Meta Platforms 4.54% Alphabet (Class A) 3.42% Alphabet (Class C) 2.84% Eli Lilly 2.69% Tesla 2.28% Visa 1.81% Source: Vanguard. These 10 holdings account for over 56% of the fund. Typically, some investors would want a less top-heavy ETF, but in the Vanguard Growth ETF's case, this has worked in its favor (and will likely continue to). Having some of the world's top companies leading your ETF is likely to be a good thing. It also helps that these are megacap stocks (companies with a market cap of over $200 billion), so they provide a bit more stability than smaller companies. The combination of the growth focus and stability is a two-for-one benefit that can suit investors looking for market-beating returns while minimizing the volatility that often comes with growth stocks. 2. The Vanguard Growth ETF has outperformed the S&P 500 since its inception The S&P 500, which tracks 500 of the largest companies trading on the U.S. market, is a widely used benchmark. When funds and stocks evaluate their performance, it's often against the S&P 500. That said, the Vanguard Growth ETF has come out well against the stock market's most important index. Story continues Since its January 2004 inception, the ETF's total returns have far exceeded those of the S&P 500. The difference is even more impressive considering that total returns include dividends, and the Vanguard ETF's growth focus excludes many dividend stocks. VUG Total Return Level Chart Of course, the fund's historical outperformance doesn't guarantee it'll continue to happen, but there's a lot of overlap between the two that works in the ETF's favor. Growth stocks are leading the market and should continue to over the long haul. 3. It's one of the cheapest ETFs on the stock market ETFs have expense ratios, which are fees charged as a percentage of your total invested amount. Although these fees might seem minor, a slight difference can equate to thousands of real-life dollars over time. The Vanguard Growth ETF's expense ratio is 0.04%, or $0.40 per $1,000 invested. For perspective, another growth-focused ETF, the ARK Innovation ETF, has an expense ratio of 0.75%. To see these fees in action, let's imagine you invest $500 monthly and average 10% annual returns over 25 years. Below is how your investments would measure up: Expense Ratio Amount Paid in Fees Investment Value After 25 Years 0.04% $3,500 $586,500 0.75% $62,600 $527,400 Calculations by author. Values rounded down to the nearest hundred. In this scenario, a difference of only 72 basis points in expense ratios equals about a $59,000 difference in fees paid over 25 years. The difference will vary based on returns and fees, but this example shows how even a relatively small difference can impact your long-term returns. The No. 1 goal of investing is to make money; the next goal should be to keep as much of that money as possible for yourself. The Vanguard Growth ETF's low fees allow you to do just that. Should you invest $1,000 in Vanguard Index Funds - Vanguard Growth ETF right now? Before you buy stock in Vanguard Index Funds - Vanguard Growth ETF, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Vanguard Index Funds - Vanguard Growth ETF wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*. See the 10 stocks *Stock Advisor returns as of March 20, 2024 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Stefon Walters has positions in Apple and Microsoft. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, Tesla, Vanguard Index Funds-Vanguard Growth ETF, and Visa. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. 3 Reasons to Buy the Vanguard Growth ETF Like There's No Tomorrow was originally published by The Motley Fool

Lawmakers are concerned the US isn't taking building the submarine force seriously enough as rival China expands its fleet 2024-03-21 21:14:30+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Some US senators were uneasy on Thursday about low procurement of attack submarines given expectations of US allies and the threats posed by potential adversaries like China. Failing to acquire enough subs "sends exactly the wrong signal to our allies, not only Australia but others in the region, when we reduce the output of such a critical weapons platform that is vital not only to our own defense but to deterrence and defense of others in the region," Connecticut Sen. Richard Blumenthal said during a Thursday Senate Committee on Armed Services hearing. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. For years, the US has pursued a procurement plan for two attack submarines per year. Industry partners often weren't able to keep up on the production side with the purchase rate. Increased funding was meant to get production of attack subs up to at least 2.3 boats per year. But in the Department of Defense's fiscal year 2025 budget request, there's only enough funding to build one Virginia-class submarine. Attack submarines, like the US Navy's nuclear-powered Seawolf-, Los Angeles-, and Virgina-class submarines, are hunter-killer boats capable of launching missiles and hunting down enemy submarines and other warships. Advertisement Limited attack submarine procurement and production makes agreements like AUKUS, in which the US will help build eight attack submarines for Australia in its first phase, difficult to accomplish on top of preparing for challenges from China in the Indo-Pacific. Related stories In a recent statement, Blumenthal and Connecticut Sen. Chris Murphy said that "dialing back submarine procurement in fiscal year 2025 threatens to slow progress in strengthening our nation's submarine supplier base and workforce" and risks "making it more difficult to upgrade our submarine fleet and meet mounting global threats on the timeframe our national security requires." They argued that the US cannot risk weaking the submarine industrial base. "Unfortunately, this administration and this president are putting forward budgets that shrink the Navy year after year," Alaska's Sen. Dan Sullivan said in the hearing Thursday. Advertisement China, the primary US rival in the Indo-Pacific region and a key challenger that the US would need its submarine force to confront in a conflict, is planning on expanding its Navy, and the Pentagon estimates the country will have 65 submarines by 2025 and as many as 80 submarines by 2035. The US military currently operates 67 submarines, only a portion of which are in the Pacific. The head of US Indo-Pacific Command, Adm. John Aquilino, said that he believes that China is spending more on defense than it admits and that the country appears increasingly "belligerent" as it expands its military capacity and presence in the region. "I have advocated for increased capacity of our joint force and all domains," Aquilino said regarding insufficient submarine production. "Undersea capabilities are a significant advantage for the United States and we ought to consider expanding." "I need the assets operationally," he added, underscoring that he would like to be able to see the delivery of undersea capabilities and resources in a timely and affordable manner. Advertisement The Navy has said that the budget plan pumps billions into the industrial base for submarine production, which will help boost the overall capability.

Firing of Ohtani’s interpreter highlights how sports betting is still illegal in California 2024-03-21 21:09:57+00:00 - SACRAMENTO, Calif. (AP) — The firing of Shohei Ohtani’s interpreter by the Los Angeles Dodgers over allegations of illegal gambling and theft has highlighted an issue many outside of California don’t realize: Sports betting is still against the law in the nation’s most populous state. Betting on sports has exploded in the United States since the 2018 U.S. Supreme Court ruling that cleared the way for states to legalize it. Thirty-eight states now allow betting on sports, and ads promoting bookmakers DraftKings and FanDuel are seemingly everywhere. Sportsbooks salivate at the thought of gaining access to California’s 39 million residents, but the industry’s efforts thus far have failed. Two rival proposals were brought before voters in 2022 and tanked badly. One that was largely backed by gaming companies would have allowed adults to wager on mobile devices and online. The other would have legalized sports gambling at tribal casinos and horse tracks. The rival campaigns became the most expensive ballot proposition fight in U.S. history, with both sides hoping to break into what was then estimated to be a potential billion dollar market. Another attempt stalled earlier this year without ever making it to the ballot. In California, gambling is permitted on horse races, at Indian casinos, in card rooms and on the state lottery. The politics involved are tricky. Wealthy Native American tribes that operate the state’s largest traditional gambling operations generally view bookmakers and other outside gambling interests as a threat to tribal sovereignty. It has also been a challenge selling the idea to voters, many of whom are cynical about the industry’s something-for-nothing promises. In the 2022 election, advertising made sweeping claims about how new gambling revenue could be used, from helping the homeless to providing financial security to poorer tribes that haven’t seen a windfall from casino gambling. At the time, the nonpartisan Legislative Analyst’s Office determined that the two proposals would increase state revenues, though it was unclear by how much. Ohtani’s interpreter and close friend, Ippei Mizuhara, 39, was fired by the Dodgers on Wednesday following reports from the Los Angeles Times and ESPN that he owed millions of dollars to an illegal bookmaker. Mizuhara has not been charged with any crimes and it’s unclear if his alleged relationship with the bookmaker broke California law. In an interview Tuesday with ESPN, Mizuhara said he gambled on international soccer, the NBA, the NFL and college football, but that he never bet on baseball, which MLB forbids team employees from doing. He added that Ohtani, the sport’s highest-paid player, paid his gambling debts at his request. Mizuhara changed his story a day later, following a statement from Ohtani’s lawyers saying the player was a victim of theft.

Lululemon shares plunge 10% on weak guidance, slowing North America growth 2024-03-21 21:03:00+00:00 - Lululemon on Thursday reported holiday earnings that topped expectations, but the athletic apparel retailer's guidance came in below estimates as its growth in North America stagnates. Here's how the company did in its fourth fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $5.29 vs. $5.00 expected vs. $5.00 expected Revenue: $3.21 billion vs. $3.19 billion expected The company's reported net income for the three-month period that ended Jan. 28 was $669.5 million, or $5.29 per share, compared with $119.8 million, or 94 cents per share, a year earlier. Sales rose to $3.21 billion, up about 16% from $2.77 billion a year earlier. Shares fell about 10% in extended trading Thursday. Like its peers, Lululemon has been grappling with uncertain demand and a slowdown in discretionary spending that's hit the apparel space particularly hard. Investors have watched how Lululemon performs in North America, its largest region by sales, as it laps tougher prior year comparisons and contends with consumers who are choosing experiences over goods like clothes and shoes. During the quarter, sales rose 9% in the Americas, compared to 29% growth in the year-ago period. While Lululemon is still growing in the region, the rate has slowed down significantly as Lululemon focuses on expanding internationally. Meanwhile, international sales grew 54% on a reported basis, with sales in China growing 78% and 36% in the rest of Lululemon's markets. Comparable sales rose 12% during the quarter, just shy of the 12.3% uptick analysts had expected, according to StreetAccount. For the current quarter, Lululemon expects net revenue to be between $2.18 billion and $2.20 billion, representing growth of 9% to 10%. Analysts were expecting a forecast of $2.25 billion, or growth of 12.5%, according to LSEG. It expects diluted earnings per share to be between $2.35 and $2.40, below the $2.55 analysts had expected, according to LSEG. For the full year, it expects sales to be between $10.7 billion and $10.8 billion, compared with estimates of $10.9 billion, according to LSEG. It anticipates diluted earnings per share will be between $14 and $14.20 for the year, compared to estimates of $14.13, according to LSEG. "As you've heard from others in our industry, there has been a shift in the U.S. consumer behavior of late and we're navigating what has been a slower start to the year in this market," CEO Calvin McDonald said on a call with analysts Thursday. "We view this as an opportunity to keep playing offense as we lean into investments that will continue our growth trajectory. Outside the U.S., our business remains strong, and all our international markets in Canada." McDonald added that both traffic and conversions are down in the U.S. He attributed that to a lack of products in sizes zero to four, key sizes for the U.S. customer base, and not enough colorful items. Lululemon has long been one of the market leaders for women's athletic apparel, but the Vancouver-based company is facing more competition than ever. Newer entrants like Alo Yoga and Vuori have been nipping at Lululemon's market share, and it's had to work harder to set itself apart in the more crowded category. The retailer has been working to build out its footwear offering and grow its men's business. During the quarter, it opened its first men's store in Beijing — a key growth market for the company. In February, it debuted its first men's sneaker, CityVerse, and plans to launch new running styles for both men and women as performance sneakers continue to be a bright spot in an otherwise stagnant shoewear market. Headed into the holidays, McDonald said Black Friday was the "single biggest day" in the company's history and he was "encouraged" by the trends he was seeing at the start of the season. But the retailer's holiday-quarter outlook came in a bit short of analysts' expectations. In January, it raised that guidance after it saw sales "balanced across channels, categories, and geographies," finance chief Meghan Frank said in a news release. Read the full earnings release here.

Treasury chief Yellen defends Biden budget against Republican senators' fears of tax increases 2024-03-21 21:02:00+00:00 - U.S. Treasury Secretary Janet Yellen testifies before a Senate Finance Committee hearing on the 2025 budget on Capitol Hill in Washington, U.S., March 21, 2024. WASHINGTON — Treasury Secretary Janet Yellen on Thursday defended President Joe Biden's 2025 fiscal budget proposal as Republican senators said they feared taxes would rise for the middle class as the result of a law due to expire next year. "For years, President Biden has vowed no tax increase on individuals earning less than $400,000," Sen. Steve Daines, R-Mont., said during a Senate Finance Committee hearing where Yellen was testifying. "And now President Biden is choosing to let the Tax Cuts and Jobs Act expire and increase the corporate tax rate, forcing American families and workers to bear the cost of these 'woke' policies," Daines said, referencing clean energy policies under the 2022 Inflation Reduction Act. Provisions of the TCJA — a landmark tax law proposed by the Trump administration and passed by Congress in 2017 — that are set to expire in 2025 include the child tax credit. That credit allows taxpayers to reduce their tax bill by up to $2,000 per qualifying child, with an income threshold of up to $400,000 per family. An additional "other dependent credit" offers a tax credit of $500 to people with less than $400,000 in income who have qualified dependents who are ineligible for the child tax credit. Biden's budget will restore the expanded child tax credit, the White House has said. "Would you agree that if the TCJA child tax credit provisions are not extended, this would also result in a tax hike for Americans making under $400,000?" Sen. Mike Crapo, R-Idaho, the committee's ranking member, asked Yellen. Yellen said that Biden has "committed to not raising taxes on households making under $400,000" and has expressed "a commitment to the importance of the Child Tax Credit, which has dramatically lowered child poverty." The TCJA doubled the existing child tax credit to $2,000, and the 2021 American Rescue Plan temporarily upped the credit amount by $1,000-$1,600 during the pandemic, according to the National Conference of State Legislatures. The credit helped drive down the child poverty rate by 46% in 2021, from 9.7% in 2020 to 5.2% in 2021— the lowest rate on record, according to the U.S. Census Bureau. Biden's $7.3 trillion spending proposal seeks to reduce the federal deficit by $3 trillion over the next decade without increasing taxes on Americans earning less than $400,000. The budget would impose a minimum 25% tax rate on the unrealized income of the very wealthiest households and raise the IRA's corporate alternative minimum tax for billion-dollar companies from 15% to 21%, while increasing the larger corporate tax rate to 28%. House Republicans sought to pare down the deficit by around $14 trillion over the next decade with cuts to the Inflation Reduction Act with a separate budget resolution introduced earlier in March. Lawmakers still have not settled on a permanent budget six months into the fiscal year, although a deal was reached this week to fund the Department of Homeland Security. It is the latest in a suite of funding bills to be considered ahead of a looming deadline Saturday to avert a government shutdown.

Joe Rogan's audience is huge. Like, really, really huge. Ginormous. 2024-03-21 20:57:49+00:00 - Bloomberg reports that Spotify released a new feature showing podcast follower counts. Joe Rogan has by far the most popular podcast on Spotify, with 14.5 million followers. This doesn't include his YouTube and Apple Podcast audiences. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement In 2020, Spotify paid $100 million for the exclusive audio rights to the Joe Rogan Experience podcast. Last month, it renewed its deal with Rogan for a reported $250 million payout over several years (but no longer exclusive rights). It seems clear that Spotify needs Joe Rogan, and Joe Rogan needs Spotify, who has stood by him even when his show has come under fire for things like spreading vaccine misinformation. Related stories For the first time, there's now a sense of just how big Rogan's podcast audience actually is. Ashley Carman reported in Bloomberg that Spotify started testing a new feature that shows podcasts' follower counts. The Joe Rogan Experience isn't just the most popular podcast on Spotify — it's almost three times the size of the second most popular (TED Talks Daily), according to Carman's report. At 14.5 million followers, it dwarfs other popular podcasts like The Daily from The New York Times (2.6 million) and This American Life (870,000). Advertisement Scoop: It's a generally accepted truth that Joe Rogan's podcast is the biggest on Earth (!) But how massive is his audience? Last month, Spotify quietly started testing a feature that discloses how many followers podcasts on the platform have. His show is almost 3X bigger than… pic.twitter.com/AOkbqOb3rg — Ashley Carman (@ashleyrcarman) March 21, 2024 Carman describes how this figure doesn't even get the full picture of Rogan's total audience: His Spotify following is still smaller than his subscribers on YouTube, which come in at 16.4 million, and his personal Instagram followers, which are at 18.9 million. But it's worth noting that Rogan accumulated these Spotify followers over just four years — his show wasn't on the platform until he signed an exclusive deal in 2020. Follower counts don't necessarily translate into listens, but it's still an impressive number. For context, about 42 million people in the US listened to podcasts in 2023, according to Edison Research. It's probably safe to assume, based on the numbers cited by Bloomberg, that a sizable chunk of those listeners are tuned into Joe Rogan.

United starts letting friends and family pool frequent flyer miles 2024-03-21 20:56:00+00:00 - Here's a friendship test: Would you share your frequent flyer miles with your pals? United Airlines is betting customers will be open to it. The airline on Thursday started allowing members of its MileagePlus loyalty program to pool their frequent flyer miles and tap into that stash for trips on United. A "pool leader" can pick up to four other family members or friends to participate in the joint account. The leader has to be at least 18 years old, but pool members can be any age, so families can use their children's miles piles toward tickets. Customers will still retain their own MileagePlus accounts and can decide how much they want to contribute to the pool. Those miles can be redeemed for flights and other products on United's site or app. Individuals can decide how much to contribute to the pool, and there's a commitment: "Once those miles are in the pool ...they stay in the the pool," said Luc Bondar, chief operating officer of United's MileagePlus loyalty program. United isn't the first airline to offer loyalty points pooling. JetBlue Airways lets up to seven customers pool frequent flyer miles, while Frontier Airlines allows up to eight people to pool miles. Airlines also generally allow customers to transfer miles to others, but that often comes with a fee. "The strategy for mileage pooling is to appeal to less-frequent to moderately frequent travelers and get them and their family members engaged in the program," said Henry Harteveldt, a travel analyst and founder of the consulting firm Atmosphere Research Group. "By allowing members of a family to pool their award points together, it increases brand preference across the family ... just like with toothpaste."

Medicare can pay for obesity drugs like Wegovy in certain heart patients 2024-03-21 20:41:03+00:00 - Medicare can pay for the popular weight-loss drug Wegovy — as long as the patients using it also have heart disease and need to reduce the risk of future heart attacks, strokes and other serious problems, federal officials said Thursday. The Centers for Medicare & Medicaid Services issued new guidance that says Medicare Part D drug benefit plans — which are offered through private insurers — could cover anti-obesity drugs that are approved for an additional use. The move could pave the way for thousands of new prescriptions, resulting in billions of dollars in increased spending, analysts have said. In practice, the guidance opens the door to wider coverage of Wegovy, the brand name of Novo Nordisk’s obesity medication semaglutide. The U.S. Food and Drug Administration this month approved a label change that allows Wegovy to be used to reduce the risk of cardiovascular events in people who are overweight or have obesity and also have existing heart disease. Recent research showed that Wegovy cut the risk of heart attack, stroke and other problems by 20% versus a placebo, or dummy drug, in such patients. Cardiologists and other experts said use of semaglutide to reduce the risk of often fatal or disabling conditions could change the way heart patients are treated. Wegovy carries a price tag of more than $1,300 a month, or $16,000 per year. Part D plans could begin covering the drug “some time this year,” said Tricia Neuman, a Medicare policy specialist at KFF, a nonprofit that researches health policy. “Medicare plans may be reluctant to move quickly to cover Wegovy given its relatively high price, particularly because they won’t be able to adjust premiums before next year,” she said. Even if plans do allow coverage, people who meet the criteria may still face other restrictions. Plans may require higher out-of-pocket fees, prior authorizations or step therapy, in which a patient is required to try a lower-cost drug before proceeding to the new treatment, Neuman said. Medicare Part D plans are prohibited by law from covering obesity medications used for chronic weight management alone, and that would not change, CMS officials said. Private insurers are evaluating the guidance — and the new indication for Wegovy — before making coverage decisions, said a spokesperson for AHIP, America’s Health Insurance Plans, an industry trade group. Drugmakers and obesity advocates have been pushing for expanded coverage, including legislation that would require Medicare to pay for the obesity drugs. At issue has been whether the cost of the expensive medications will be offset by the savings of reduced spending on medical care related to obesity — and, now, heart disease. One lingering obstacle to broader use is limited supply of the drug, which has been in shortage for more than a year, according to the FDA. Novo Nordisk officials say they’re working to increase production and access. ___ The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.