( MENAFN - GlobeNewsWire - Nasdaq) NEW YORK, Dec. 29, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Celsius Holdings, Inc. (NASDAQ: CELH) between February 29, 2024 and September 4, 2024, both dates inclusive (the“Class Period”), of the important January 21, 2025 lead plaintiff deadline . SO WHAT: If you purchased Celsius common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Celsius class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email ... for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 21, 2025 . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Celsius materially oversold inventory to PepsiCo, Inc. (“Pepsi”) far in excess of demand, and faced a looming sales cliff during which Pepsi would significantly reduce its purchases of Celsius products; (2) as Pepsi drew down significant amounts of inventory overstock, Celsius' sales would materially decline in future periods, hurting Celsius' financial performance and outlook; (3) Celsius' sales rate to Pepsi was unsustainable and created a misleading impression of Celsius' financial performance and outlook; (4) as a result, Celsius' business metrics and financial prospects were not as strong as indicated in defendants' Class Period statements; and (5) consequently, defendants' statements regarding Celsius' outlook and expected financial performance were false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Celsius class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email ... for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: , on Twitter: or on Facebook: . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 ... MENAFN29122024004107003653ID1109039951 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.HOUSTON , Dec. 11, 2024 /PRNewswire/ -- Essency, a leading provider of innovative hot water solutions, has announced the continuing rollout of its revolutionary EXR water heater, which is now available in 18 states as well as the District of Columbia . The Essency EXR, the world's first high-capacity electric water heater, brings homeowners a new level of durability and simplicity. Its cutting-edge technology employs intelligent temperature management and quick recovery to deliver an 80-gallon First Hour Rating in a standard-size residential tank footprint. And, the innovative design of the EXR makes it the perfect choice for households of all sizes. Unlike traditional storage tank water heaters, which typically last only an average of eight years, the Essency EXR is built to serve fresh, clean, hot water for over 30 years, providing unmatched durability and performance. Following its success in Arizona , Colorado , Florida , Georgia , North Carolina , South Carolina , Tennessee , and Texas , the product's distribution has expanded to Alabama , Delaware , Kentucky , Louisiana , Maryland , Mississippi , Nevada , New Mexico , Virginia , West Virginia , and the District of Columbia . "With the positive reception from contractors who tell us that installing an EXR is practically 'plug and play,' we are excited to continue expanding our distribution of this product," says Scott Isaksen , National Sales Director for Essency. "Plumbers praise the ease of installation and customer satisfaction, thanks to the product's reliable performance and 20-year transferrable warranty. We're excited for more U.S. homeowners to experience the benefits of the EXR." Whether as a direct replacement for a standard tank water heater, for new-build installations or wherever a new residential water heater is required, the EXR seamlessly integrates into any setting. Its elegant cabinet-type shape sets it apart, making it the most functional and most beautiful home water heater on the market today. Plumbers also appreciate its light weight and built-in handles, which make it much easier to maneuver than a standard tank heater. New owners of the Essency EXR have noted how happy they were about the simplicity of installation without a lot of home reconstruction. They're finally able to have all the hot water their family needs throughout their home whenever they need it while also saving real dollars with features like "Water Saver" and "Vacation Mode." About Essency Founded in 2010, Essency is committed to reimagining the hot water industry. The Essency EXR is the winner of the prestigious 2023 Edison Award in the category of Consumer Solutions- Sustainable Design. For more information about Essency and the EXR, visit www.essencyhome.com . Essency water heaters are available for installation by professional, factory-trained plumbing contractors in 18 U.S. States and the District of Columbia . Ferguson is the exclusive U.S. distributor to the plumbing wholesale trade for Essency water heaters. View original content: https://www.prnewswire.com/news-releases/the-worlds-first-high-capacity-electric-water-heater-the-essency-exr-now-available-in-eighteen-us-states-302329402.html SOURCE EssencyMass Effect director Casey Hudson's "AAA" sci-fi game cancelled, studio closing - EurogamerNo. 23 Alabama women beat Alabama State 83-33 at Emerald Coast Classic
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Lakers approve Bronny James U-turn after being accused of taking things 'too far'In a call for bipartisan cooperation, President Anura Kumara Dissan-ayake yesterday urged Parliament to rally behind a shared mission of driving the nation’s economic and social transformation. Delivering the Government’s policy statement at the inaugural session of the 10th Parliament, Dissanayake emphasised the collective responsibility of building a better future for the country, appealing for support across political divides. Acknowledging past divisions shaped by regional, ethnic, and religious lines, the President stressed the importance of democracy as a system that thrives on diverse ideologies. “Democracy is not about uniting all people under a single party or ideology. It is about coexistence,” he said, reaffirming his Government’s commitment to represent and serve all citizens, including those who did not vote for them. The President highlighted the unity displayed during the elections as a powerful step toward national harmony. However, he firmly rejected the resurgence of divisive politics, vowing, “We will not allow nationalist or religious rhetoric to gain political power. This nation has suffered enough from ethnic conflicts.” Reflecting on his 24 years in Parliament, the President lamented its gradual decline in public trust and respect. He noted how the institution has become synonymous with disillusionment, calling for a collective effort to restore its dignity and relevance. “The primary mission of this Parliament must be to uphold the people’s sovereignty, regain their trust, and re-establish itself as a body that truly represents them,” Dissanayake stated. The President also underscored the public’s mandate for a political culture free of corruption. “This mandate reflects the people’s aspiration to transform the corrupt political culture that has taken root over many years,” he said. Disanayake pledged that his Government would prioritise accountability and serve the people with integrity. Noting that the 10th Parliament consists of a significant number of new members, he said this offers an opportunity to instil good practices swiftly and effectively. He also expressed hope to further open up the Parliament for the public. “This Parliament will no longer remain a hidden chamber concealed from the public. Today, Parliament operates in alignment with advancements in modern technology and media, making every daily occurrence open to the public. It will no longer serve as a secretive or inaccessible centre shielded from public scrutiny. Instead, we are striving to transform this Parliament into a transparent and accessible institution for all citizens,” he pointed out. The President also highlighted that the Government firmly believes that progress cannot be made without a functional and responsive public sector. “Globally, the success of major transformations is often driven by a strong public service capable of implementing ambitious political goals. The focus remains on rebuilding a competent, people-centric State service that prioritises the well-being of citizens, with the full support of public servants themselves, ensuring the success of this critical reform,” he said, recalling that an unprecedented number of public servants cast their votes in support of the new Government. The President opined that many within the State service express frustration and a sense of unfulfillment in their professional roles similar to the people’s dissatisfaction with the public services. “This has led to a dual challenge: an unhappy public and a discontented public sector workforce. The Government’s responsibility now lies in creating a State service that meets the needs of both citizens and the public servants themselves,” he added. The President also stressed the critical importance of restoring public trust in the rule of law, stressing that enacting laws alone is insufficient without effective implementation. The public’s confidence in the legal system has been eroded, and the President called for a collective effort to rebuild this trust. He asserted that no individual, politician, or authority should be above the law and vowed to address controversial crimes, ensuring perpetrators are held accountable. This commitment, he said, is essential to establishing a just and prosperous state. The President also acknowledged the severe economic challenges facing Sri Lanka, which has been caught in a deep recession. “This economy cannot withstand drastic shocks and immediately upon taking power, our focus turned to ensuring economic stability and reaffirming trust with the relevant economic stakeholders. We understood that even the smallest error could have significant repercussions due to the scale of the crisis. Any disruption would only further harm the already delicate economic system,” he said, adding that the economic crisis has left the country with no room for mistakes. Therefore, Dissanayake insisted the lawmakers that everyone must carefully consider every aspect, thoughtfully analyse all factors, engage in dialogue, and make well-informed decisions. He also outlined the Government’s cautious approach to stabilising the economy, noting the importance of adhering to the parameters set with the International Monetary Fund (IMF). While the IMF’s third review had been delayed due to the elections, the President expressed optimism that an agreement would be reached by Saturday (23), marking a crucial step in the country’s economic recovery. Dissanayake also disclosed that the country is making crucial strides in its debt restructuring program with the IMF aiming to conclude the process by the end of the year. “The Government has reached a common understanding on bilateral debt and is preparing to formalise agreements with individual countries. Preliminary agreements have also been made regarding international sovereign bonds and commercial market debt, with completion expected by December,” he added. The President highlighted that the ongoing debt restructuring discussions, which had been in progress for nearly two years, are now in their final stages. Despite challenges, he emphasised that debating the merits of the restructuring plan is no longer productive, as it is essential for moving the economy forward. As the IMF’s restructuring framework is seen as key to managing the financial crisis, the President acknowledged that it is not enough to address the deep-rooted economic issues facing the nation. “To overcome this, the Government plans to adopt a new economic strategy to rebuild and strengthen the country’s economic structure,” he noted. The President outlined that Sri Lanka’s new economic strategy is based on three core principles aimed at revitalising the country’s economy. The first pillar includes rapid growth and expansion in the production of goods and services, with an emphasis on broadening this growth beyond the Western Province to other regions. The second focus is on making the economy inclusive. The Government stresses that economic success cannot be achieved if people are excluded from participating. Instead, every citizen should play an active role in the economy to ensure the benefits reach all. Finally, the strategy emphasises fair distribution of wealth. The Government warns against the concentration of national wealth in the hands of a few, as this can lead to instability. Instead, it advocates for equitable distribution, ensuring that the wealth generated from the country’s natural resources benefits all citizens, promoting social and economic stability. Dissanayake said the Government has identified several key areas for short-term growth aimed at revitalising the economy. These include tourism, IT, maritime and agriculture. The tourism sector, he said is a top priority, with plans to attract 4 million tourists and generate an $ 8 billion industry within the next 3-4 years, a significant increase from the 2.3 million visitors and $ 4.3 billion recorded in the benchmark year of 2018. The President identified IT sector also holds strong growth potential. “Currently, there are 85,000 IT professionals, with plans to increase this number to 200,000 over the next five years. The goal is to raise IT export income from $ 1.2 billion to $ 5 billion by enhancing education and skills in the sector,” he pointed out. Leveraging Sri Lanka’s strategic location, Dissanayake said the Government aims to transform the country into a global maritime and trade hub, enhancing the efficiency of the Port of Colombo and tapping into the full economic potential of its geographic advantage. In addition, he outlined that the agricultural sector is another area of focus. “Despite significant investments in irrigation and research, farmers remain burdened by debt. The Government plans to revive agriculture through innovation, including seed research and extension services, and increase subsidies for fertilisers to support the industry’s growth, he said, adding the fisheries industry, with vast untapped resources in Sri Lanka’s seas. “The sector is set to receive a boost with a fuel subsidy to get more boats back into operation, signalling a positive economic shift,” he opined. President Dissanayake also announced that a comprehensive Budget will not be immediately presented, citing that an Interim Budget is set to be submitted by early December to allocate funds for the next four months. He said a comprehensive Budget proposal is expected by early February, with the goal of securing parliamentary approval by mid-March. “This upcoming Budget will serve as the practical foundation for implementing the nation’s vision, with its structure aligned to the strategies discussed,” he said. Moreover, the President disclosed plans to overhaul its diplomatic services, with a renewed focus on not only strengthening international relations but also supporting local industries in accessing global markets. “The country’s diplomatic missions will be realigned to better serve this dual purpose,” he added. In addition, he said the Government aims to expand the construction industry’s reach beyond Sri Lanka, recognising the sector’s technical expertise and resources as key assets for international growth. He also stated that Sri Lanka’s unique indigenous products will also be targeted for global markets by adding value and establishing a modern industrial framework. Dissanayake also acknowledged the importance of small and medium-scale enterprises (SMEs) and stressed that their growth should align with national development goals. “To support this, clear plans have been devised to foster the sector’s expansion and integrate it into the country’s broader economic vision,” he stated. The President also announced plans to launch the “Cleaning Sri Lanka” program — a major initiative aimed at transforming the country’s environment and societal attitudes. He said a Presidential task force will lead the effort, which goes beyond environmental issues to focus on fostering good citizenship, positive behaviour, and responsible actions among citizens. “The program aims to change perceptions about public property and social responsibility, emphasising the need for accountability and respect for resources and one another. The initiative also addresses essential issues such as access to clean sanitation facilities, particularly for women in rural areas, and seeks to improve societal attitudes toward shared public spaces. The Government aspires to create a more humane and empathetic society, one marked by kindness, tolerance, and understanding,” he explained. In addition to societal transformation, Dissanayake said the Government is committed to eradicating poverty, with plans to increase welfare allowances, support schoolchildren from disadvantaged families, and raise pensions and public sector wages in the upcoming budget. “These efforts aim to ensure that every citizen has access to a fair meal, quality education, a decent home, and stable income opportunities,” he added. Ending his speech on a note of hope, the President asserted the shared responsibility of ensuring a better future for Sri Lanka’s next generations. “Our foremost responsibility is to prevent the repetition of past tragedies and to create a nation where suffering is replaced by unity and progress,” he affirmed.
MEXICO CITY (AP) — Over 18,000 people in Mexico have registered online to run for Supreme Court seats and federal judgeships in the country's contentious new selection process , but a random drawing in the end will determine who gets on the ballot, officials said Monday. The ruling party pushed through a constitutional reform in September to make all federal judges stand for election, replacing the system where court employees and lawyers mainly move up through the ranks. Current court employees and their supporters have staged dozens of demonstrations against the reforms, calling them part of a ruling-party campaign to weaken checks and balances and eliminate independent regulatory and oversight bodies. Now, candidates for Supreme Court seats and federal judgeships need only a law degree, a grade point average of 3.2, “five years of professional experience” and five letters of recommendation from neighbors or friends. That, and some luck in the final drawing. Officials rejected criticism that has called the process rushed or amateurish for the often highly technical posts that can hear cases including intellectual property, organized crime and Constitutional law. “The results have been spectacular,” said Arturo Zaldivar, a top advisor to President Claudia Sheinbaum. According to the plan, evaluation committees will have just over a month to review thousands of resumes and whittle the field to about 10 candidates or less for each for the 881 judgeships and nine seats on the Supreme Court. Then 1,793 names chosen at random from those selected will appear on the ballot on June 1. Critics warn that many who land on the ballot will be unknowns who perhaps have never argued a case in the courts they seek to run. “You don’t elect a doctor or a surgeon for an operation based on their popularity, you elect them based on their technical expertise, their ability, their knowledge,” said Sergio Méndez Silva, the legal coordinator for the civic group Foundation for Justice. “That also applies for a judge.” With candidates now having to run election campaigns, critics warn there's a chance drug cartels or political parties could finance them to get friendly judges onto the bench. There are also concerns that the evaluation committees deciding who makes the cut for the selection to appear on ballots may not be impartial. Most committee members were appointed by the legislative or executive branches, controlled by the ruling Morena party. Some critics argue that the current justice system, which is riddled with nepotism, corruption and a lack of accountability, needs to be changed. “We need a justice system that gives results,” said Martínez Garza, an academic and former head of the human rights commission in the northern border state of Nuevo Leon who has registered to run for a Supreme Court seat. Trials in Mexico can last for years, and the ruling party has added to the growing list of crimes for which bail is not allowed, meaning that a large percentage of the prison population is people awaiting trial.Christmas is officially two weeks away, and if you're still looking for a last-minute gift, Walmart is here to help. The retailer has a huge holiday sale with deals on last-minute gifts, including TVs, kitchen appliances, vacuums, toys, and Apple devices. • Shop Walmart's full holiday sale As a deals editor for TechRadar, who's been scouring Walmart's site for weeks, thanks to its Black Friday sales, I've hand-picked the 21 best last-minute deals. I selected the items based on price and popularity from brands like Samsung, Ninja, Shark, Apple, Bissell, Sony, and Keurig. A few highlights include this Gourmia air fryer oven on sale for only $45 , the Apple Watch 10 on sale for $349 , and the best-selling Tineco wet-dry vacuum on sale for $99 . Shop more of Walmart's best last-minute deals below, all of which arrive before Christmas. That will change as we approach that December 25 date, so you should take advantage of these savings now before it's too late. Walmart's 21 best last-minute deals Get the best compact, single-serve blender for just $44.88 at Walmart's holiday sale. This is an ideal solution for your daily smoothie or protein shake. With its built-in handle and sippy cup lid, you'll be ready to make your favorite creation just before leaving the house. If you're looking to gift a cheap air fryer, Walmart has the top-rated Chefman air fryer on sale for $40, which is $10 less than on Black Friday. The eight-quart air fryer features a basket divider so that you can separate food for dual cooking and features four one-touch cooking presets. This Gourmia Air fryer oven, on sale for only $50, briefly sold out during Black Friday, but it's now back. The 14-quart air fryer features 28 preset cooking functions and includes two baskets, a rotisserie spit and rotisserie lift tool, and a large window so you can monitor your cooking. At Walmart's holiday sale, you can grab this Ninja Grand Kitchen blender for $98. You'll get an XL 72-oz. blender, an 18-oz Nutri Ninja Cup with a to-go lid to take your smoothie on the go, and an eight-cup food processor bowl. The top-rated Tineco cordless wet-dry vacuum mop combo is on sale for a record-low price of $99 at Walmart's holiday sale. The Tineco iFloor 2 vacuums and washes hard floors in one step, handling wet and dry messes in one sweep. If you're looking for a powerful upright vacuum, Walmart has the best-selling Shark Navigator Lift-Away on sale for $99.99, thanks to today's 50% discount. The upright vacuum works on carpet and hard floors and features a lift-away technology, so you can lift the pod to clean hard-to-reach areas. Make a cup of coffee in less than two minutes with Keurig's best-selling K-Elite, which is on sale for $103.45. Five brew-size selections let you choose how much to make, while Strong brew and Iced options mean you can enjoy a bold morning cup or a refreshing afternoon beverage with the touch of a button. The Ninja Creami ice cream maker will surely be a popular Christmas gift this year, and Walmart has the appliance down to a record-low price. You can make ice cream, milkshakes, and sorbets with a touch of a button and add your favorite mix-ins and flavors. Apple's best-selling AirPods Pro 2 are some of the best earbuds on the market, and you can find them in stock and on sale for $189.99 at Walmart. The AirPods Pro 2 feature active noise cancellation, an improved audio quality, and a wireless charging case that provides more than 24 hours of battery life. The best-selling Solo Stove makes a great Christmas gift idea, and Walmart's holiday sale includes the Ranger 2.0 model for $199.99 – a record-low price. The smokeless, portable Solo Stove includes a stand, a removable base plate, and an ash pan, making cleaning easier. If you're on a budget but still want a high-end vacuum, Dyso's V8 Absolute is a fantastic option at just $299.99. Perfect for pet owners, the Dyson V8 features a de-tangling motor bar that works across hardwood floors and carpets and can transform into a handheld vac for quick and convenient clean-ups. Walmart has Apple's best-selling 10.9 iPad on sale for $299 – just $20 more than the record-low price. In our iPad 10.9 (2022) review , we said Apple's latest base-level tablet is a big upgrade over the previous generation model, offering a larger Liquid Retina display, a new A14 Bionic chip, improved cameras, USB-C support, and a sleek design. Big-screen budget TVs are always popular during Black Friday, and this 65-inch display from Onn. is still on sale for only $298. It offers 4K UHD resolution on a frameless bezel for an edge-to-edge viewing experience. The Onn. display also comes with the Roku experience for easy streaming and a compatible app that allows you to use your voice to launch shows, browse movies, and adjust the volume. Here's an incredible deal on a Roomba robot vacuum mop combo, bringing the price down to its lowest ever. The j5 uses the iRobot Home App to create no-mop zones, so it will vacuum your hard floors while mopping at the same time but will avoid your carpet. Apple's all-new Apple Watch 10 is on sale for a record-low price of $349 – $20 more than the Black Friday record-low price. The Apple Watch 10 includes upgrades such as Apple's new S10 chipset, sleep apnea detection, depth gauge, and a new design featuring the most advanced display. There have been savings galore for the Xbox Series X Digital Edition this Black Friday. And rightly so, as I feel its retail price is a touch on the pricey side given the lack of a disc drive. It's certainly more compelling below that $400 mark. Sadly there's no bundle here, but still a decent saving for the console itself. If you're after the best-value PS5 Slim console as well as the best-value bundle, then this Fortnite Cobalt Star listing at Walmart is the way to go, with a $50 discount. Walmart has a $100 discount on the top-rated Shark IQ robot vacuum. It offers powerful suction on carpets and hardwood floors, and the Shark app allows you to set cleaning schedules from anywhere. While we've seen the Air M1 go for as little as $699 previously, Walmart has beaten that already excellent discount by a whole $100. Not only is this an outstanding price for such a powerful laptop that still holds up great for 2024, but this could be the last chance to pick one up now that it's officially discontinued. Don't miss this incredible deal if you're looking for a great bang for the buck MacBook. Samsung's The Frame TV is my dream Christmas present, and the 55-inch model is on sale for a record-low price of $886. The 2024 Samsung Frame TV features Pantone art-validated colors that deliver lifelike images. Plus, the display now comes with Streams, a complimentary set of artwork streamed from the Samsung Art Store.
is well known as Warren Buffett's largest investment at . It has netted shareholders over $100 billion in gains, making it one of the most successful investments ever. However, did you know that Buffett has greatly trimmed this position? That's right -- Berkshire Hathaway has been selling Apple shares throughout 2024, likely due to the stock's rising valuation. Clearly losing his optimism about the future returns of Apple stock, Buffett is adding a ton of cash to Berkshire Hathaway's , which now numbers over $300 billion. There is one stock he has never sold since buying in 1991, though: . Buffett owns over 20% of the credit card issuer and bank, making it the second-largest position in the Berkshire Hathaway portfolio. The position trades at a value of $40 billion as of this writing. Let's see why Buffett is attracted to American Express stock, why he has never sold a share, and whether you should join him and buy shares today. A durable consumer financing institution Buffett has been following American Express ever since he first bought shares in 1963. Back then it was a radically different company, dealing in traveler's checks. By 1991, the company had become one of the largest credit card networks in the United States, focusing on serving a premium customer base. There are a few durable qualities to American Express' business model. It sells high-fee credit cards such as the Platinum card, which debuted in 1984. People sign up for these cards because of the travel benefits and premium perks such as access to airport lounges. However, they also come with an intangible brand benefit built up over the last few decades. Customers feel like they are in an exclusive club shopping with the metallic American Express cards, which gives the company a brand value that is tough to replicate. On the back end, the American Express infrastructure is hard to replicate. Like and , American Express has been entrenched as a payment method for merchants for decades. If another credit card network were to try to compete, it would have to go to virtually every merchant across the country to try to convince them to add another credit card to its payment terminal. This is an uphill battle that insulates American Express from the competition. Buffett likely saw these qualities in 1991 when he bought American Express for Berkshire Hathaway. Since then, American Express stock has posted a cumulative total return of 10,130%. Even though Buffett has only purchased more shares a few other times since 1991, the stock has at such a high rate that it now makes up a large portion of his equity portfolio. Buffett's never-sell mentality Many, perhaps most, people have sold American Express while Buffett remains a shareholder. This is a lesson for beginning investors: You don't generate wealth by buying a stock, but by holding it for the . Buffett espouses this mentality for what he deems the best businesses in the Berkshire Hathaway portfolio. As long as he believes American Express stock isn't getting to an unreasonable valuation and still has plenty of runway left to grow, he believes the best course of action is to just hold. Long holding periods for your big stock winners is a lesson investors should take away from studying Buffett, with American Express being the quintessential example. If you think this contradicts the Apple sales, readers should note that Apple is still Buffett's largest stock holding today. He likely didn't want too large of a position in a slow-growth company trading at a of 37. American Express still has plenty of runway left to grow, especially with its permanent hedge. As a take-rate of the entire payments space in the United States (and increasingly around the world), American Express' revenue grows along with inflation. data by Is American Express a buy today? American Express stock is having a phenomenal year, up 58% year to date (YTD) as of this writing. The stock has a P/E of 22, which is much lower than Apple but higher than its historical average. Even so, I think American Express can do well by shareholders over the long term. Management believes it can grow at around 15% through acquiring new customers, inflation, pricing power, and its robust . Even if the stock's P/E compresses, investors should benefit by holding it over the long term -- which is why Buffett isn't selling a single share.
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Stock Market Symbols GIB (NYSE) GIB.A ( TSX ) cgi.com/newsroom Merger strengthens CGI's position with Fortune 500 clients in St. Louis , Atlanta , Minneapolis , Chicago , Columbus , Dallas and New York ST. LOUIS, Mo. , Dec. 11, 2024 /PRNewswire/ - CGI (NYSE: GIB) (TSX: GIB.A) today announced the signature of an equity purchase agreement to merge operations with Daugherty, a St. Louis -based professional services firm specializing in artificial intelligence, data analytics, strategic IT consulting, and business advisory services for Fortune 500 clients in the financial services, healthcare, communications, retail and manufacturing sectors. The merger of operations brings more than 1,100 talented consultants to CGI, further strengthening the company's presence in multiple key U.S. growth markets, including St. Louis , Atlanta , Minneapolis , Chicago , Columbus , Dallas and New York . The parties entered into a purchase agreement on November 29, 2024 , and the transaction is expected to close in December 2024 , subject to regulatory approval and other customary closing conditions. For 39 years, Daugherty has been committed to driving innovation, growth and customer satisfaction while making a positive difference in the community. For CGI, the merger with Daugherty establishes significant combined geographic presence in targeted U.S. markets, deepens industry expertise and enhances strategic advisory services with offerings around digital engagement, technology modernization, cloud transformation, and FinOps and sustainability. The merger with CGI enables Daugherty clients to retain local relationships and expertise while gaining access to CGI's global capabilities, network of delivery centers, and breadth of end-to-end services and solutions. Daugherty has consistently been named as the Largest IT Consulting Firm by the St. Louis Business Journal along with several top workplace recognitions across its metro markets and a 'top five in the nation' distinction in 2024 for the Top Workplaces USA . "At the heart of our strategic vision is a dual commitment: to our clients and our teammates," said Ron Daugherty , Daugherty President and CEO. "We're forging a path with CGI that expands global capabilities, creates meaningful professional opportunities, and amplifies our collective potential to drive innovation and positive change in our communities." Giving back to the communities in which CGI and Daugherty live and work is also a shared commitment, as evidenced by CGI's commitment to support of The Daugherty Foundation which will provide access to education, mentorship and career opportunities for young people and underrepresented groups in technology. "The combined strength of Daugherty and CGI creates additional value for clients through deep industry insight and technology expertise, with a strong commitment and proven history of delivering trusted business outcomes," said Vijay Srinivasan , CGI President of U.S. Commercial and State Government operations. "CGI and Daugherty are a great cultural fit as both companies share a strong commitment to their people and communities, a dedication to management fundamentals and a passion for excellence in execution for clients." In the U.S., CGI has operations across 80 offices which are organized through a metro market proximity model and supported by the depth of the company's international presence, range of services, and insights to deliver value locally. About CGI Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 90,250 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2024 reported revenue is $14.68 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com . View original content: https://www.prnewswire.com/news-releases/cgi-expands-operations-in-multiple-us-metro-markets-with-daugherty-302329421.html SOURCE CGI Inc.Gal Gadot Reveals She Had a 'Massive Blood Clot' in Her Brain During Pregnancy: 'All I Wanted Was to Hold on and Live'A bankruptcy judge is set to hear arguments Monday in conspiracy theorist Alex Jones’ effort to stop the satirical news outlet The Onion from buying Infowars and turning it into a parody. Jones alleges fraud and collusion marred the bankruptcy auction in which The Onion was named the winning bidder on Nov. 14 over a company affiliated with him. It’s not clear how soon U.S. Bankruptcy Judge Christopher Lopez in Houston will issue a ruling. He could allow The Onion to move forward with its purchase, order a new auction or name the other bidder as the winner. At stake is whether Jones gets to stay at Infowars’ studio in Austin, Texas, under a new owner friendly to him, or whether he gets kicked out by The Onion. The other bidder, First United American Companies, runs a website in Jones’ name that sells nutritional supplements. Regardless, Jones has set up a new studio, websites and social media accounts that would allow him to keep airing his show. And his personal account with 3.3 million followers on the social platform X was not part of the sale, although Lopez will be deciding whether it should be included in the liquidation and sold off later. Jones’ bankruptcy and the liquidation of his assets came about after he was ordered to pay nearly $1.5 billion to relatives of victims of the Sandy Hook Elementary School shooting in Newtown, Conn. Jones was found liable for defamation and emotional distress damages in lawsuits in Connecticut and Texas for repeatedly calling the 2012 shooting that killed 20 first-graders and six educators a hoax staged by actors to increase gun control. Proceeds from the liquidation are to go to Jones’ creditors, including the Sandy Hook families who sued him. Jones alleges The Onion’s bid was the result of fraud and collusion involving many of those families, the humor site and a court-appointed trustee who is overseeing the liquidation. First United American Companies submitted a $3.5 million sealed bid, while The Onion offered $1.75 million in cash. But The Onion’s bid also included a pledge by Sandy Hook families to forgo some or all of the auction proceeds due to them to give other creditors a total of $100,000 more than they would receive under other bids. The trustee, Christopher Murray, said that made The Onion’s proposal better for creditors and he named it the winning bid. He has denied any wrongdoing. Jones and First United American Companies claimed that the bid violated Lopez’s rules for the auction by including multiple entities and lacking a valid dollar amount. Jones also alleged Murray improperly canceled an expected round of live bidding and only selected from among the sealed bids that were submitted. Jones called the auction “rigged” and a “fraud” on his show, which airs on the Infowars website, radio stations and Jones’ X account. He filed a counter lawsuit last week against Murray, The Onion’s parent company and the Sandy Hook families in the bankruptcy court. In a court filing on Sunday, Murray called the allegations a “desperate attempt” to delay the sale of Infowars to The Onion and accused Jones, his lawyers and attorneys for First United American Companies of a “vicious smear campaign lobbing patently false accusations.” He also alleges Jones collaborated with First United American Companies to try to buy Infowars. Lopez’s September order on the auction procedures made a live bidding round optional. And it gave broad authority to Murray to conduct the sale, including the power to reject any bid, no matter how high, that was “contrary to the best interests” of Jones, his company and their creditors. But at a Nov. 14 hearing Lopez said he was concerned about the process and transparency. “We’re all going to an evidentiary hearing and I’m going to figure out exactly what happened,” he said. “No one should feel comfortable with the results of this auction.” The assets of Infowars’ parent company, Free Speech Systems, that were up for sale included the Austin studio, Infowars’ video archive, video production equipment, product trademarks, and Infowars’ websites and social media accounts. Jones is appealing the $1.5 billion in judgments citing free speech rights, but has acknowledged that the school shooting happened. Jones has brought in millions of dollars a year in revenue by hawking nutritional supplements, clothing, survival gear and other merchandise, including more than $22 million this year through Sept. 30 from his Infowars Store website, according to court documents. Many of Jones’ personal assets, including real estate, guns and other personal belongings, also are being sold as part of the bankruptcy. Documents filed in court this year say Jones has about $9 million in personal assets, while Free Speech Systems has about $6 million in cash and more than $1 million worth of inventory.
AP News in Brief at 6:04 p.m. ESTTwo students wounded and gunman dead after shooting at Northern California elementary school
NEW YORK (AP) — Brian Thompson led one of the biggest health insurers in the U.S. but was unknown to millions of people his decisions affected. Then Wednesday's targeted fatal shooting of the UnitedHealthcare CEO on a midtown Manhattan sidewalk thrust the executive and his business into the national spotlight. Thompson, who was 50, had worked at the giant UnitedHealth Group Inc for 20 years and run the insurance arm since 2021 after running its Medicare and retirement business. As CEO, Thompson led a firm that provides health coverage to more than 49 million Americans — more than the population of Spain. United is the largest provider of Medicare Advantage plans, the privately run versions of the U.S. government’s Medicare program for people age 65 and older. The company also sells individual insurance and administers health-insurance coverage for thousands of employers and state-and federally funded Medicaid programs. The business run by Thompson brought in $281 billion in revenue last year, making it the largest subsidiary of the Minnetonka, Minnesota-based UnitedHealth Group. His $10.2 million annual pay package, including salary, bonus and stock options awards, made him one of the company's highest-paid executives. The University of Iowa graduate began his career as a certified public accountant at PwC and had little name recognition beyond the health care industry. Even to investors who own its stock, the parent company's face belonged to CEO Andrew Witty, a knighted British triathlete who has testified before Congress. When Thompson did occasionally draw attention, it was because of his role in shaping the way Americans get health care. At an investor meeting last year, he outlined his company's shift to “value-based care,” paying doctors and other caregivers to keep patients healthy rather than focusing on treating them once sick. “Health care should be easier for people,” Thompson said at the time. “We are cognizant of the challenges. But navigating a future through value-based care unlocks a situation where the ... family doesn’t have to make the decisions on their own.” Thompson also drew attention in 2021 when the insurer, like its competitors, was widely criticized for a plan to start denying payment for what it deemed non-critical visits to hospital emergency rooms. “Patients are not medical experts and should not be expected to self-diagnose during what they believe is a medical emergency,” the chief executive of the American Hospital Association wrote in an open letter addressed to Thompson. “Threatening patients with a financial penalty for making the wrong decision could have a chilling effect on seeking emergency care.” United Healthcare responded by delaying rollout of the change. Thompson, who lived in a Minneapolis suburb and was the married father of two sons in high school, was set to speak at an investor meeting in a midtown New York hotel. He was on his own and about to enter the building when he was shot in the back by a masked assailant who fled on foot before pedaling an e-bike into Central Park a few blocks away, the New York Police Department said. Chief of Detectives Joseph Kenny said investigators were looking at Thompson's social media accounts and interviewing employees and family members. “Didn’t seem like he had any issues at all,” Kenny said. "He did not have a security detail.” AP reporters Michael R. Sisak and Steve Karnowski contributed to this report. Murphy reported from Indianapolis. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest in local public safety news with this weekly email.
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