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NoneNEW YORK , Dec. 27, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Celsius Holdings, Inc. ("Celsius" or the "Company") (NASDAQ: CELH ). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. The class action concerns whether Celsius and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. You have until January 21, 2025 , to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Celsius securities during the Class Period. A copy of the Complaint can be obtained a t www.pomerantzlaw.com . [Click here for information about joining the class action] On May 27, 2024 , the price of Celsius stock fell nearly 13% as analysts and investors digested some of the latest retail store trends reported by Nielsen, a global data and analytics company. Morgan Stanley noted that Celsius' sales growth slowed sequentially in weekly retail data – slowing to 39% year-over-year in the week ended May 18 down from 50% in the week ended May 4 – that its market share dipped, and that pricing for Celsius' products was down 7.2% year-over-year, and cautioned that Celsius faced difficult sales comparisons over the next several quarters as it rolled over the anniversary of its Distribution Agreement with Pepsi. Then, on September 4, 2024 , the Company revealed, among other things, that Celsius' sales to Pepsi were reduced from "roughly around [$]100 million to [$]120 million . . . from what [Pepsi] ordered last quarter," that Celsius was "still seeing these inventory levels being reduced" and that it had "increased" in the third quarter of 2024, and that "just to be precise with the [$]100 million to [$]120 million figure, . . . we're seeing approximately [$]100 million to [$]120 million less in orders to Pepsi in Q3 this year versus Q3 last year." On this news, the price of Celsius stock fell $4.25 per share, or 11.59%, to close at $32.39 per share on September 4 , 2024. Finally, on November 6, 2024 , Celsius disclosed that its overall third quarter of 2024 "revenue was approximately $265.7 million , compared to $384.8 million for the" third quarter of 2023, a 31% decline; its North American revenues fell 33%; and its "'[r]evenue from [Pepsi] declined $123.9 million ,'" while "[c]oncurrently, related retailer promotional allowances created revenue headwinds." Celsius further revealed that that its quarterly "gross profit decreased by $71.9 million , or 37%"; that its quarterly "[g]ross profit margin was 46.0% . . . , a 440 basis point decrease from 50.4% for the same period in 2023"; and that the "decrease in gross profit was due to promotional allowances, incentives, and other billbacks as a percentage of gross revenue" resulting from Pepsi's drawdown. On this news, the price of Celsius stock fell $1.69 per share, or 5.32%, to close at $30.04 per share on November 6, 2024 . Pomerantz LLP, with offices in New York , Chicago , Los Angeles , London , Paris , and Tel Aviv , is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz , known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud , breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com . Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Danielle Peyton Pomerantz LLP [email protected] 646-581-9980 ext. 7980 SOURCE Pomerantz LLP
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Keros Therapeutics, Inc. - KROSBELGRADE, Serbia (AP) — Playing against his parent club Stuttgart in the Champions League, on-loan Red Star Belgrade forward Silas had just a low-key celebration for the goal he scored in a 5-1 win Wednesday. Silas played five years at Stuttgart before being loaned out to spend this season with the Serbian champion — a deal that went through after the Champions League fixtures were drawn and both parties to the loan were set to meet in the fifth of eight rounds. Red Star trailed 1-0 in the 12th minute when the Congo international ran through to shoot from the edge of the Stuttgart penalty area. Silas held up both hands in a gesture of apology to fans of his longtime former team. It was the platform for 1991 European Cup winner Red Star to deliver its best performance in the Champions League after four straight losses. The 26-year-old Silas made headlines in 2021 when he was revealed to be one year older than registered and playing under a false family name. His former agent was blamed for the visa issue after the player arrived in Europe as a teenager. AP soccer: https://apnews.com/hub/soccer
The boy did not sit on the fence regarding nature. From a young age, Farley Mowat felt a kinship, a “common ground with—and sympathy and understanding for—the non-human creatures of the planet,” said James King in Farley: The Life of Farley Mowat (HarperCollins 2002). Along with life stories, Mowat wrote captivating books promoting environmentalism through appealing fiction and non-fiction. While some readers were troubled by his creative rejigging of facts, Mowat’s messages of social action remain relevant today. Mowat could scarcely be anything but writer and activist. Shy and a natural storyteller, he spent many childhood days alone, “wandering through boreal forests, observing, collecting, measuring, valuing,” noted King in Quill and Quire. Farley McGill Mowat was born in Belleville, Ontario on May 12, 1921 to Angus and Helen Mowat, both of nearby Trenton. The Mowat family enjoyed a long and prominent history in eastern Ontario. Among Mowat’s ancestors was Premier Oliver Mowat, born in Kingston, Upper Canada on July 22, 1820, and the premier’s brother, Presbyterian reverend John Bower Mowat, born in Kingston on June 8,1825. The reverend was appointed Queen’s University’s Chair of Theology and Hebrew, and was Farley Mowat’s great-grandfather. The activist’s father, Angus Mowat, on the other hand, was rebellious and was regularly disappointed with life. He had difficulty settling down and moved his family long distances frequently for work until he at last received a prestigious job as chief librarian in Trenton. Angus Mowat passed down his traits of creativity and imagination to his son, along with the nagging feeling of being an outsider. The boy’s mother held little sway in the family. Writing was in the young Mowat’s blood. In his early teens, Farley Mowat wrote poems and published “a regular column based on his observations of birds in T he Star-Phoenix after his family moved to Saskatoon,” said Gerald J. Rubio, and editors Karen Grandy and Daniel Baird in The Canadian Encyclopedia , March 15, 2022. Encouraged by his father, Mowat prepared to enlist for military duty in WW2. Aiming to join the Royal Canadian Air Force, the 18-year-old was refused for being too young. The hopeful candidate was small in stature, a slender man standing five-foot-seven inches, and when he turned 19, he tried again. Once more, he was disappointed. This time, “although he was in perfect health, he weighed four pounds less than the official minimum of 120,” stated King. In 1942, Mowat finally was recruited. Completing officer training, the commissioned Lieutenant shipped overseas as a member of the Hastings and Prince Edward Regiment—dubbed the Hasty Ps. Participating in mind-jarring battles, surviving dreadful conditions, and enduring gruesome death all around him, Mowat found a resolution and courage that he didn’t know he had. And a promotion, too. At war’s end, the battle-scarred Captain Mowat was discharged. Taking advantage of the veteran’s educational benefit, Mowat enrolled at University of Toronto. Struggling with attendance, Mowat nonetheless achieved good grades. The “sixty dollars a month in veteran’s pay provided by the Army” gave him extra incentive, noted King, along with a pretty classmate who caught his attention. Mowat fell head-over-heels for Frances Thornhill . Both enjoyed solitude, similar values, and she had been a member of Women’s Royal Navy Service. Compatible, Farley and Frances married in 1947. The Mowats had two sons, Sandy and David. They divorced in 1960. Accepting a summer job as biologist in the Northwest Territories in 1947, Mowat’s task was to determine the role of wolves in the drastic decline of caribou. “During his time in the North, he discovers that trappers, not wolves, were largely responsible for the decimation of the caribou herds,” stated Astrid Lange in “Farley Mowat: a timeline of his life,” Toronto Star, May 7, 2014. Submitting short stories to magazines, one of Mowat’s first pieces was published in the Saturday Evening Post on July 29, 1950. He earned “$750, a fee much higher than anything Farley would have received in Canada,” King stated. The author submitted seven stories over the next two years, and two were accepted by Canadian magazines. The five rejected articles were accepted by American magazines, and the publishers “paid about six times the going rate in Canada.” Friends with Native people who subsisted in the frosty north, Mowat “became outraged at the problems of the Inuit, all of which he attributed to white misunderstanding and exploitation,” described Rubio. Mowat wrote his impressions of the Ihalmuit, part of the Inuit residents living in the far north, in People of the Deer in 1952. His first book, “made him an instant, albeit controversial, celebrity.” While many appreciated Mowat’s book, loud detractors emerged from the Canadian government. Jean Lesage, then Minister of Northern Affairs and Natural Resources, claimed that the Ihalmuit were pure fiction. Dr. A.E. Porsild, a civil servant with the Department of Resources and Development, publicly refuted the author’s account of Inuit living conditions and vociferously discounted Mowat’s writing. “Although Porsild did not intend to do so,” King said, “he helped to establish Mowat’s reputation as a fierce, controversial champion of Native and ecological issues.” His writing credentials firmly established, Mowat produced another book about northern Canadians, titled The Desperate People (1959). The reading world was just getting a nibble of Mowat’s skill, with his best work to come in the next year. A more personal story based on the study of wolves from his northern summer job, Mowat published Never Cry Wolf in 1963 with McClelland and Stewart. Using his notes from the summer of 1947. Mowat defended the wolves with aplomb, and said King, “the character and behaviour of the wolves is rendered vividly, language literary rather than scientific.” Crafting images with compassion and understanding, Never Cry Wolf quickly rose to the top of the international best seller list. The author married his second wife, Claire Wheeler, on March 29, 1969. Born Toronto in 1933, Wheeler was a graphic designer and later an author who, among several books, wrote the young adult trilogy beginning with The Girl From Away in 1992. Wheeler embraced her husband’s ideals about environmentalism, and she joined him on his many travels. Researching Vikings in England and their time in the New World, Mowat wrote Westviking in 1965, and published a children’s book, The Curse of the Viking Grave in 1966. Many more books followed, highlighting people, animals, and ecological issues, such as The Siberians (1970), A Whale for the Killing (1972), and Sea of Slaughter (1984). Recognitions poured in. In 1978, Mowat received the Queen Elizabeth Jubilee Medal, and three years later, was made Officer of the Order of Canada. However, when on a promotional tour for Sea of Slaughter in 1985, he was refused entry to the United States. Under the McCarran-Walter Act, officials considered Farley Mowat a fit with “anarchists, communists, or anyone deemed ‘prejudicial to the public interest,’” said Lange. He was later allowed in briefly. The blurring of facts and fiction in his early northern books erupted again in the 1990s. Although Mowat took liberties to write engaging, heart-grabbing stories, the author’s supporters had an argument against the negative publicity. Lange stated that Mowat “did more to raise crucial awareness about the north than any other Canadian.” More awards came in appreciation of Mowat. In 2002, the Sea Shepherd Conservation Society named their flagship ‘Farley Mowat,’ and in 2010, he was honoured with a star on Canada’s Walk of Fame in Toronto. A co-founder, he was a lifetime member of The Writers Union of Canada. At age 92, Farley Mowat died on May 6, 2014 in Cobourg, Ontario. Holding a feisty passion for all living nature, Mowat held important issues up for public scrutiny, inspiring critical change and preservation. The author of over 40 books remains a vibrant beacon of Canadian activism. Susanna McLeod is a writer living in Kingston, Ontario.TrutanklessTM Shipping GEN3: Redefining Electric Tankless Water Heating
THUNDER BAY — Deputants all agreed on one thing at the final public engagement session for the city's Council Composition Review Committee. They do not like the proposal for a hybrid 4-ward system. The review committee heard from four people who all wanted the review committee to change their proposed recommendation to council. Three of the deputants argued for variations of an all ward system, which is not one of the options the committee was considering. The fourth, Shane Judge, asked the committee to consider only recommending an at-large system. He said the to do away with the 4-ward hybrid model "is all wrong.” “I am disenfranchised by a system where I am unable to vote for everyone who has the power to raise my taxes,” said Judge. He argued that ward councillors do not make decisions that best serve the city as a whole, but only for their ward constituents. “Ward councillors may indeed be able to walk and chew gum at the same time, but it's not in their political calculus to do so,” said Judge. “The evidence suggests that even though the vast preponderance of the issues dealt with by our city council are citywide in nature. Ward councillors do not feel as compelling a pressure to please the majority of voters in the city. “It's because it's not necessary for their political survival. Collaterally, because of the cumbersome size of our council, ward counsellors get to politically hide in the weeds, invisible from media coverage because of the sheer numbers. They are not exposed to the level of media scrutiny they should be for their votes on citywide issues. “And since the current hybrid model and the one proposed by administration has a majority of ward councillors. The financial and social health of the entire city is placed on a lower level of concern because it's politics right now." Judge did propose a compromise. He suggested that the review committee keep their four-ward boundary plan but have only one elected ward councillor for each ward with the rest of the councillors, a majority, elected at-large. Jason Veltri argued that equity and fairness are better served by an all-ward system. “It ensures that neighbourhoods and people in this community have a dedicated voice at the table. Your city issues are still being addressed. The ward councillors are usually the first line of defence when an issue comes up. An at-large councillor is the last line of defence,” said Veltri. Veltri asked the review committee to consider adding three wards to meet the committee's target number of 10 councillors. Cory Bagdon also suggested the review committee add an all-ward system to their recommendation. He proposed a boundary redistribution of nine smaller wards with nearly equal populations. The names of each of the existing wards would stay the same except McKellar which was marked as Ward A in his presentation. Red River would be cut in half. The other half was labelled Ward B. Bagdon told Newswatch that if his concept was recommended, “a powerful step would be to have the Indigenous communities come up with the names for those wards.” According to phase-one of the review committee’s public engagement, Indigenous representatives felt they would be better represented with an at-large system. Bagdon said, “two wards named after these Indigenous communities will inspire that pride in our community, pride in our neighbourhood and it will encourage candidates to run for election. “And that's how we're going to end up with Indigenous representation of council." Vern Seymour suggested the review committee remove the hybrid aspect from the 4-ward model. Seymour said he would like the review committee to keep the four-ward model but reduce the size of council to eight, plus the mayor, and do away with the hybrid aspect of the model. He reasons that the public needs to start moving “past the Port Arthur and Fort William rivalry” and start thinking about the city as a whole. “I suggest no more than eight. Lessing the required review by the citizens in total, possibly reducing the name recognition problem and bringing more citizens into total involvement.” said Seymour. When asked if the deputations have influenced the review committee'[s recommendation, Vice-Chair Cody Fraser said the two options are still on the table. “At the end of the day, we're tasked with bringing forward the best recommendation possible. It's not necessarily one that we think will be politically viable. But it's our goal and it's our mandate to do what we think as a community is in the best interest of the community,” said Fraser. “Whether that's gonna be a recommendation of what we've already brought to the table or something new, it remains to be seen. He noted the feedback from the public survey and deputations of the second phase consultation will be presented to the committee on Dec. 3.NoneTourmaline Oil Corp. stock falls Monday, underperforms marketNone
IRVING, Texas , Nov. 26, 2024 /PRNewswire/ -- RumbleOn, Inc. (NASDAQ: RMBL) (the "Company" or "RumbleOn") announced today that it has commenced a $10.0 million fully backstopped registered equity rights offering (the "Rights Offering"), pursuant to which the Company is expected to receive aggregate gross proceeds of $10.0 million , less expenses related to the Rights Offering. The Company intends to use the proceeds from the Rights Offering for general corporate purposes which may include repayment of the Company's convertible senior 6.75% promissory notes due January 1, 2025 . The proceeds raised will also satisfy, in part, the additional capital financing obligations of the Company pursuant to a recent amendment to the Company's credit agreement with Oaktree. The Company is distributing at no charge to the holders of (i) its Class A common stock, par value $0.001 per share (the "Class A common stock"), and (ii) Class B common stock, par value $0.001 per share (the "Class B common stock" and, together with the Class A common stock, the "common stock"), in each case as of the close of business on November 25, 2024 (the "Record Date"), non-transferable subscription rights (the "Subscription Rights") to purchase up to 2,392,344 shares of Class B common stock at price of $4.18 per share (the "Subscription Price"). The aggregate subscription value of all shares of Class B common stock available for purchase in the Rights Offering is $10.0 million . Each holder of common stock as of the Record Date (each, an "Eligible Stockholder") will receive one Subscription Right for each share of the common stock owned as of the Record Date. Each Subscription Right entitles the holder to purchase 0.0677 shares of Class B common stock. The Company will not issue any fractional shares of Class B common stock in the Rights Offering. Instead, the Company will round down the aggregate number of shares of Class B common stock the Eligible Stockholders are entitled to receive to the nearest whole number. Accordingly, as each Subscription Right represents the right to purchase 0.0677 shares of Class B common stock, an Eligible Stockholder must hold at least 15 shares of Class A common stock or Class B common stock to receive sufficient Subscription Rights to purchase at least one share of Class B common stock in the Rights Offering. Eligible Stockholders will not be entitled to exercise an over-subscription privilege to purchase additional shares of Class B common stock that may remain unsubscribed as a result of any unexercised Subscription Rights. The Subscription Rights will expire and will have no value if they are not exercised prior to 5:00 p.m. Eastern Time , on the expiration time for the Rights Offering (the "Expiration Time"), which is currently expected to be 5:00 p.m. Eastern time on December 12, 2024 , unless the Company, in its sole discretion, extends the period for exercising the Subscription Rights. Subject to the terms and conditions of the Support and Standby Purchase Agreement (defined below), the Company reserves the right to cancel, terminate, amend, or extend the Rights Offering at any time prior to the Expiration Time. On November 26 , 2024, the Company entered into a support and standby purchase agreement (the "Support and Standby Purchase Agreement") with Stone House Capital Management, LLC, which is a holder of Class B common stock and is managed by Mark Cohen , a member of the board of directors of the Company (together with its affiliates, the "Standby Purchaser"), and Mark Tkach and William Coulter , each of whom is a holder of the Class B common stock and a member of the board of directors of the Company (collectively, the "Support Purchasers" and, together with the Standby Purchaser, the "Investors"). The Support and Standby Purchase Agreement provides, among other things, that (i) the Standby Purchaser will purchase from the Company in a private placement any shares of Class B common stock included in the Rights Offering that are not subscribed for and purchased by Eligible Stockholders (collectively, the "Backstop Securities") for the same per share Subscription Price payable by the Eligible Stockholders electing to exercise their Subscription Rights in the Rights Offering; and (ii) each Support Purchaser will exercise all of his respective Subscription Rights in full prior to the Expiration Time. Other Important Information The Subscription Rights will not be listed for trading on any stock exchange or market. Therefore, there will be no public market for the Subscription Rights. However, the shares of Class B common stock issued upon the exercise of the Subscription Rights will remain listed on The Nasdaq Capital Market of the Nasdaq Stock Market LLC under the symbol "RMBL." The Company expects that Broadridge Corporate Issuer Solutions, LLC, the subscription and information agent for the Rights Offering, will distribute subscription documents for the Rights Offering to Eligible Stockholders beginning on or about November 26, 2024 . Holders of shares of common stock held in "street name" through a brokerage account, bank or other nominee should contact their broker, bank or other nominee for details regarding participation in the Rights Offering. For any questions or further information about the Rights Offering, please contact the information agent, at (888) 789-8409 (Toll-Free), or via email at shareholder@broadridge.com . Neither the Company nor its board of directors has made or will make any recommendation to holders regarding participation in the Rights Offering. Holders should make an independent investment decision about whether to participate in the Rights Offering based on their own assessment of the Company's business and the Rights Offering. The offering of the Class B common stock pursuant to the Rights Offering is being made pursuant to the Company's existing effective shelf registration statement on Form S-3 (Reg. No. 333-281862) on file with the Securities and Exchange Commission (the "SEC") and a prospectus supplement (and the accompanying base prospectus) filed with the SEC on the date hereof. The information in this press release is not complete and is subject to change. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of such state or jurisdiction. The Rights Offering will be made only by means of the prospectus supplement (and the accompanying base prospectus) filed with the SEC on the date hereof. About RumbleOn RumbleOn, Inc. (NASDAQ: RMBL), operates through two operating segments: our Powersports dealership group and Wholesale Express, LLC, an asset-light transportation services provider focused on the automotive industry. Our Powersports group is the largest powersports retail group in the United States (as measured by reported revenue, major unit sales and dealership locations), offering over 500 powersports franchises representing 50 different brands of products. Our Powersports group sells a wide selection of new and pre-owned products, including parts, apparel, accessories, finance & insurance products and services, and aftermarket products. We are the largest purchaser of pre-owned powersports vehicles in the United States and utilize RideNow's Cash Offer to acquire vehicles directly from consumers. For more information on RumbleOn, please visit rumbleon.com . Cautionary Note on Forward-Looking Statements The Company's press release contains statements that constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, those regarding the Company's plans to launch a Rights Offering, the anticipated final terms, timing and completion of the proposed Rights Offering, and the use of proceeds from the proposed Rights Offering. Forward-looking statements generally can be identified by words such as "anticipates," "believes," "continues," "could," "estimates," "expects," "intends," "hopes," "may," "plan," "possible," "potential," "predicts," "projects," "should," "targets," "would" and similar expressions, although not all forward-looking statements contain these identifying words. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from current expectations and beliefs, including, but not limited to, risks and uncertainties related to: whether the proposed transactions will be completed in a timely manner, or at all; the risk that all of the closing conditions for the proposed Rights Offering are not satisfied; the occurrence of any event, change or other circumstance that could cause the Company not to proceed with the Rights Offering; the determination of the final terms of the proposed Rights Offering; the satisfaction of customary closing conditions related to the proposed Rights Offering; risks related to the diversion of management's attention from RumbleOn's ongoing business operations; the impact of general economic, industry or political conditions in the United States or internationally, as well as the other risk factors set forth under the caption "Risk Factors" in the registration statement, as amended, and in RumbleOn's Annual Report for the year ended December 31, 2023 and Quarterly Reports on Form 10-Q for the quarters ended March 30, 2024 , June 30, 2024 and September 30, 2024 and in any other subsequent filings made with the SEC by RumbleOn. There can be no assurance that RumbleOn will be able to complete the proposed Rights Offering on the anticipated terms, or at all. Any forward-looking statements contained in this press release speak only as of the date hereof, and RumbleOn specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. View original content to download multimedia: https://www.prnewswire.com/news-releases/rumbleon-announces-commencement-of-10-0-million-fully-backstopped-registered-rights-offering-302316964.html SOURCE RumbleOnDe'Vondre Campbell's mid-game quitting overshadowed the 49ers' offensive woes
Daniel Jones is a free agent and another coach of a contending team got asked about the possibility of adding him to their quarterback room on Tuesday. The Lions currently have second-year player Hendon Hooker behind Jared Goff on the active roster and Jake Fromm is on their practice squad. At a press conference, head coach Dan Campbell was asked if the team has considered adding Jones to the mix. “We haven’t really talked about that,” Campbell said, via Dave Birkett of the Detroit Free Press . “The name’s come up but it’s not like we’ve sat down and talked so I don’t want to give you a yes or a no.” Hooker spent his rookie season rehabbing a knee injury and has appeared in three games to close out lopsided wins this season. He’s thrown nine passes in those games and offensive coordinator Ben Johnson said recently that he’d like to get Hooker more work , but doesn’t want to disrespect opponents on the wrong end of a blowout. If the Lions aren’t willing to gamble on the possibility that they’ll have Hooker learning on the job in do-or-die moments, they could bring Jones to Detroit for the final weeks of the season.Atomic-6 Secures $3.8M TACFI for Space ArmorTM
No. 9 SMU aims to improve playoff odds vs. CalNEW YORK (AP) — Stocks slipped in afternoon trading Friday as Wall Street closes out a rare bumpy week. The S&P 500 fell 0.2%, and is on track for a loss for the week after three straight weekly gains. The Dow Jones Industrial Average fell 81 points, or 0.2% to 43,833 as of 12:56 p.m. Eastern time. The Nasdaq fell 0.3% and is hovering around its record. Broadcom surged 20.2% after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. The company also raised its dividend. The company's big gain helped cushion the market's broader fall. Pricey stock values for technology companies like Broadcom give the sector more weight in pushing the market higher or lower. Artificial intelligence technology has been a focal point for the technology sector and the overall stock market over the last year. Tech companies, and Wall Street, expect demand for AI to continue driving growth for semiconductor and other technology companies. Furniture and housewares company RH, formerly known as Restoration Hardware, surged 14.3% after raising its forecast for revenue growth for the year. Wall Street's rally stalled this week amid mixed economic reports and ahead of the Federal Reserve's last meeting of the year. The central bank will meet next week and is widely expected to cut interest rates for a third time since September. Expectations of a series of rate cuts has driven the S&P 500 to 57 all-time highs so far this year . The Fed has been lowering its benchmark interest rate following an aggressive rate hiking policy that was meant to tame inflation. It raised rates from near-zero in early 2022 to a two-decade high by the middle of 2023. Inflation eased under pressure from higher interest rates, nearly to the central bank's 2% target. The economy, including consumer spending and employment, held strong despite the squeeze from inflation and high borrowing costs. A slowing job market, though, has helped push a long-awaited reversal of the Fed's policy. Inflation rates have been warming up slightly over the last few months. A report on consumer prices this week showed an increase to 2.7% in November from 2.6% in October. The Fed's preferred measure of inflation, the personal consumption expenditures index, will be released next week. Wall Street expects it to show a 2.5% rise in November, up from 2.3% in October. The economy, though, remains solid heading into 2025 as consumers continue spending and employment remains healthy, said Gregory Daco, chief economist at EY. “Still, the outlook is clouded by unusually high uncertainty surrounding regulatory, immigration, trade and tax policy,” he said. Treasury yields edged higher. The yield on the 10-year Treasury rose to 4.39% from 4.34% late Thursday. European markets slipped. Britain's FTSE 100 fell 0.1%. Britain’s economy unexpectedly shrank by 0.1% month-on-month in October, following a 0.1% decline in September, according to data from the Office for National Statistics. Asian markets closed mostly lower.De'Vondre Campbell's mid-game quitting overshadowed the 49ers' offensive woes
TORONTO, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Rivalry Corp. (the " Company " or " Rivalry ") (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, is pleased to announce that it has closed the initial tranche of a non-brokered private placement of 12,930,707 units of the Company (the " Units "), at a price of $0.15 per Unit, for aggregate gross proceeds of approximately $1.94 million (the " Offering "). The Company may complete one or more additional closings, for aggregate gross proceeds (together with the proceeds raised under the initial closing) of up to approximately USD$3 million. Unless otherwise noted, all dollar figures are quoted in Canadian dollars. “This initial tranche of our non-brokered private placement was primarily subscribed to by insiders, family and friends, and long-term shareholders,” said Steven Salz, Co-Founder and CEO of Rivalry. “This commitment and demonstration of support is deeply gratifying as we press ahead into a new chapter for the Company.” Each Unit is comprised of one (1) subordinate voting share in the capital of the Company (each, a " Subordinate Voting Share ") and one-half of one (1/2) Subordinate Voting Share purchase warrant (each whole warrant, a " Warrant "). Each Warrant is exercisable into one Subordinate Voting Share in the capital of the Company (each, a " Warrant Share ") at a price of $0.25 per Warrant Share for a period of 12 months from the date hereof, subject to the Company's right to accelerate the expiry date of the Warrants upon 30 days' notice in the event that the closing price of the Subordinate Voting Shares is equal to or exceeds $0.50 on the TSX Venture Exchange (or such other recognized Canadian stock exchange as the Subordinate Voting Shares are primarily traded on) for a period of 10 consecutive trading days. The Company intends to use the proceeds from the Offering for corporate development and general working capital purposes. The Subordinate Voting Shares and Warrants, and any securities issuable upon exercise thereof, are subject to a four-month statutory hold period, in accordance with applicable securities legislation. The Company has paid an aggregate of $14,953.74 in finder's fees in connection with the closing of the first tranche of the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any applicable state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available. 1,333,300 Units were issued to Steven Isenberg, a director of the Company and a "related party" (within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 ")) and such issuance is considered a "related party transaction" for the purposes of MI 61-101. Such related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities being issued to the related parties nor the consideration being paid by the related parties exceeded 25% of the Company’s market capitalization. The purchasers of the Units and the extent of such participation were not finalized until shortly prior to the completion of the Offering. Accordingly, it was not possible to publicly disclose details of the nature and extent of related party participation in the transactions contemplated hereby pursuant to a material change report filed at least 21 days prior to the completion of such transactions. About Rivalry Rivalry Corp. wholly owns and operates Rivalry Limited , a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the digital generation. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions, as well as an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. With world class creative execution and brand positioning in online culture, a native crypto token, and demonstrated market leadership among digital-first users Rivalry is shaping the future of online gambling for a generation born on the internet. Company Contact: Steven Salz, Co-founder & CEO ss@rivalry.com 416-565-4713 Investor Contact: investors@rivalry.com Media Contact: Cody Luongo, Head of Communications cody@rivalry.com 203-947-1936 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Note Regarding Forward-Looking Information and Statements This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s MD&A dated April 30, 2024 and other disclosure documents available on SEDAR+ at www.sedarplus.ca. No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Source: Rivalry Corp.
Stock market today: Stocks climb to record highs as Fed members point to December rate cut
Partnering with hummel and Northwell Health, the new kit honors the club's iconic local roots. WESTCHESTER COUNTY, N.Y. , Nov. 26, 2024 /PRNewswire/ -- The Westchester Soccer Club (WSC) – the first homegrown professional sports club to call New York's most populous suburb home – debuted the team's inaugural home kit last week at an event with Northwell Health, its front of kit sponsor and official health partner. See images of the new kit here and the video reveal. Through an exciting partnership with hummel, a leading global sportswear brand, and with sponsorship from Northwell Health, the home kit builds on the excitement of WSC's iconic homegrown brand unveiled earlier this summer. The White, Gold, and Blue "Zee" Kit represents the next step in WSC's campaign to deepen community engagement as it prepares for the 2025 season in the United Soccer League One (USL). Earlier this year, USL announced that Westchester County, N.Y. has been granted the rights to a USL League One franchise, with WSC to kick off in 2025 as the host of home matches at the newly renovated Memorial Field in Mount Vernon, N.Y. "Our new kits proudly showcase the defining spirit of our community. At its core, the jersey is a celebration of our heritage, with the "Infinity W" mark (found in our badge and side-striping) and the Tappan Zee Bridge representing the connection between our players, fans, and our hometown communities," said Mitch Baruchowitz, majority owner of WSC. "Northwell Health is very proud to be the front-of-kit sponsor and official health partner of Westchester Soccer Club. This partnership reflects our shared commitment to fostering a healthier, more connected community," said Dr. Debbie Salas-Lopez of Northwell Health. "The new jerseys symbolize the strength of this collaboration, and we are excited to stand alongside WSC in uniting and inspiring Westchester through the power of soccer." Designed with the vibrant spirit of the NY suburban landscape in mind, the jerseys embody the pride and identity of WSC as a uniter of families and communities in the greater Westchester Region. The distinctive home kits resonate with the club's unique identity and aim to bring fans together and feature one of the region's iconic landmarks. In addition to the introduction of the new kits, WSC is also excited to announce the availability of season ticket deposits for the upcoming League One season. A deposit includes exclusive access to club information, announcements, invitations to events and more, providing fans the opportunity to secure their seats for an exciting season ahead, further solidifying their connection to the club. The new jerseys, and other items in a brand-new line of merchandise, are now available online at WSC's website for ensuring that fans can proudly display their support for the club ahead of the season. For more information about the new jerseys, season ticket options, and upcoming events, please visit: https://www.westchestersc.com/ . About Westchester Soccer Club Westchester Soccer Club, Westchester's first homegrown professional sports team, will join USL One in the 2025 season. The club is dedicated to celebrating the region's profound love for soccer through exciting game experiences and community-focused events. With a strong commitment to nurturing local talent, WSC aims to build a world-class developmental pipeline for both boys and girls in Westchester. For more information and updates, follow WSC on social media: Twitter/X: @westchestersc • Instagram: @westchestersc • Facebook: @westchestersc Sign up for email updates at www.westchestersc.com Media Contact: Josh Vlasto josh@joshvlasto.com View original content to download multimedia: https://www.prnewswire.com/news-releases/westchester-soccer-club-debuts-new-home-kit-to-kick-off-upcoming-season-302317028.html SOURCE Westchester Soccer Club
Colombia stocks higher at close of trade; COLCAP up 0.47%On Wednesday, users reported a mass Reddit outage affecting millions of users. Reddit confirmed the issue on social media and blamed the problem on a "bug in a recent update." The platform reported that the problem was resolved as of 8:08 p.m. PST on Wednesday . But users were still reporting issues on Thursday, especially between approximately 9:30 a.m. and 11 a.m., when Downdetector received tens of thousands of reports with an almost even mix of website and app connection issues. "An update we made caused some instability. We reverted and are seeing Reddit ramp back up," a Reddit spokesperson told TechCrunch . Naturally, people flocked to X to see what was wrong with Reddit. This story is ongoing.