Guwahati, Nov 24 (PTI) Asserting that the BJP has always been focused on minority voters without any appeasement policies, Assam Chief Minister Himanta Biswa Sarma on Sunday said the party’s victory in the Karimganj Lok Sabha constituency in June and the recent bypoll in the Samaguri assembly seat reflects the success of its principal of treating all equally. Addressing a press conference here, he said the BJP has its roadmap defined for the minority-dominated seats for the 2026 assembly elections. “Our focus has always been on minority voters but with the principal ‘appeasement to none, justice to all’. It has also been reflected in our ‘sabka saath, sabka vikash’ motto,” he said. Sarma claimed that as a result of this non-appeasement policy, the BJP had won the Karimganj Lok Sabha seat and now the Samaguri assembly constituency, both of which have about 65 per cent Muslim voters. “Karimganj was the best and most critical result for me in the Lok Sabha polls. But everyone was writing about Jorhat and undermining Karinganj,” he said, referring to the attention to Congress leader Gaurav Gogoi’s victory. The CM said the BJP has its roadmap defined for minority-dominated seats for the assembly polls, and though it cannot make an impact in all, it has identified at least five-six constituencies to make inroads. “Keep an eye on Lahorighat, North and South Karimganj, Samaguri and Rupohi seats next elections. Whether BJP will win or not I cannot say, but we will give a good contest,” he stated. Sarma also claimed that the Badruddin Ajmal-led AIUDF not contesting in Samaguri this time has worked in favour of the BJP. “If the AIUDF had fielded its candidate, our votes would have gone to them. The AIUDF not being in the fray has worked for us,” he said. Describing the BJP-led ruling alliance’s victory in all the five assembly seats in the by-elections as an “unprecedented success”, the CM said, “Generally, bypolls ahead of general elections bring uncertainty for the ruling party and keep the government under pressure. But we are grateful to the people for their massive support. We were confident of winning four seats, but being able to get Samaguri out of Congress’s clutches after 25 years has been something else.” Besides Samaguri, bypolls were held in Behali, Dholai, Bongaigaon and Sidli. Accusing the press of giving more attention to Behali where Gogoi was campaigning, Sarma said, “When I tracked coverage last month, it felt like there were no readers or viewers in Dholai, Bongaigaon and Sidli.” Speaking at the felicitation programme for the three winning candidates at the BJP state headquarters later, Sarma said all of them were self-made with no political lineage. “Our ideal is Narendra Modi, Atal Behari Vajyapee, not some royal family. For Congress, their ideals are the royal family, Rahul Gandhi, Priyanka Gandhi,” he added. He also affirmed that the BJP remains committed to its allies, and pointed out that it left the Bongaigaon and Sidli seats to AGP and UPPL for the bypolls. “But the Congress snatched Behali from CPI(ML) Liberation, which had earlier contested there as the opposition alliance member,” he said. The CM said the bypolls were a reflection of the mood of the people in different parts of the state as all the assembly segments were located in specific geographical locations. Mentioning the victory in Samaguri, he said, “It was a tough seat for us as the demography there was different from those who have been voting for BJP so far. But our policy of equal development worked.” Referring to an attack on him while campaigning in Samaguri in 2016, he said, “It feels like justice that in the same panchayat where we had come under attack, we polled 49.5 per cent of the votes this time.” PTI SSG SSG SOM This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content. var ytflag = 0;var myListener = function() {document.removeEventListener('mousemove', myListener, false);lazyloadmyframes();};document.addEventListener('mousemove', myListener, false);window.addEventListener('scroll', function() {if (ytflag == 0) {lazyloadmyframes();ytflag = 1;}});function lazyloadmyframes() {var ytv = document.getElementsByClassName("klazyiframe");for (var i = 0; i < ytv.length; i++) {ytv[i].src = ytv[i].getAttribute('data-src');}} Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );Please enable JavaScript to read this content. Kenya’s largest banks have allocated a total of Sh235 billion for loan losses due to concerns about a slowdown in the country’s economy and an increase in defaults among businesses and individual borrowers over the past nine months. An analysis of the financial statements of the top commercial banks, which have so far released their results for the nine months ending September 30 this year, shows that most of the tier-one lenders have increased their credit loss reserves by billions of shillings in response to the uncertain economic and credit market conditions. This accumulation of rainy-day funds by banks comes as a majority of commercial banks anticipate that more borrowers and traders will default on their household and business loans. The projected rise in loan defaults by borrowers is on the back of the worsening economic conditions in the country, with the largest banks fearing this would add stress to their overall asset quality. As of August this year, the share of loan defaults had risen to Sh674.9 billion from Sh641.3 billion in March, according to data by the Central Bank of Kenya (CBK), indicating a cash crunch in the economy. This has led to property seizures for thousands of borrowers. The increasing defaults are a reflection of the challenges faced by Kenyans in an economy that has seen numerous job losses across various sectors. Listed firms are continuing to issue profit warnings signalling the worsening economic conditions that have constrained demand. Yesterday, marketing firm WPP Scangroup joined tea producer Sasini to issue an earnings caution. “The Board of Directors of WPP Scangroup Plc wishes to inform the shareholders of the company, potential investors and the general public that based on the preliminary assessment of its projected consolidated financial results for the financial year ending 31 December 2024, net consolidated earnings for the Company and its subsidiaries will be at least 25 per cent lower than that reported in the financial year ended 31 December 2023,” said the firm. Sasini said separately that based on “our forecast of the financial results and taking into consideration the information currently at the Board’s disposal, we anticipate that our projected net earnings for the year to 30th September 2024 will be 25 per cent lower than the reported earnings for the year ended 30th September 2023. “The business performance for the period has been adversely affected by several extenuating circumstances in the global macro environment; the global economic situation and continuing geopolitical disruptions in our business value chain being the key factors.” Amid such projections by corporates and enterprises, commercial banks in turn reckon, that the need for caution and prudence in provision is justified by the turbulent macroeconomic environment, which is currently characterised by high interest rates according to the majority of lenders. Equity Group, for instance, reported an increase in provisions, with the amount billion in the first nine months of this year rising to Sh45.9 billion compared to Sh44.9 billion in the previous year. Our analysis of tier-one lenders’ financial results for the first nine months of the year shows that they have set aside significant funds to protect against loan losses running to over Sh200 billion. Stay informed. Subscribe to our newsletter Despite the tier-one banks posting massive profits largely driven by regional subsidiaries the banks have rebuilt their rainy-day funds, further impacting potential profits, underlining their cautious optimism. Equity Group, for instance, reported an increase in provisions, with the amount billion in the first nine months of this year rising to Sh45.9 billion compared to Sh44.9 billion in the previous year. This growth in provisioning coincided with an increase in the lender’s gross non-performing loans, which stood at Sh125.3 billion as of September 30, 2024. Equity Group Chief Executive James Mwangi emphasised that as the lender continues to provide loans during uncertain times, it must also be prepared to enhance its loan loss provisions. “The global operating environment characterised by macro-economic shocks saw the Group continuing with its conservative and prudent defensive approach by booking adequate loan loss provisions. This has resulted in an NPL (non-performing loan) coverage ratio of 67 per cent with an NPL ratio of 13.4 per cent, way below the latest published industry average of 16.7 per cent,” said Mr Mwangi. “The Group continues to make significant strides in its differentiated managerial strategy and in enhancing its control environment to better position it to navigate the challenging macroeconomic and complex regulatory landscape while driving sustainable growth.” KCB Group’s provisions rose 12 per cent to Sh 109.9 billion, an increase of Sh13.3 billion. The rise was primarily driven by a 15 per cent rise in dud loans, which reached a total of Sh215.3 billion. “The Group’s stock of NPLs stood at Sh215.3 billion, which saw the NPL ratio close the quarter at 18.5 per cent reflecting the economic conditions in different sectors across the markets,” said KCB. “To mitigate the effect of increased NPLs, provisions increased year on year by 12.2 per cent. The Group continues to prioritise efforts to improve asset quality with various measures in place to reduce the NPL ratio both in the short and long-term.” CBK data indicates that lending to the private sector has sharply decelerated, with growth plummeting to 1.3 per cent t in August from 3.7 per cent in July. In the nine-month period, I&M Group reported a growth of provisions to Sh17.1 billion, while bad loans decreased to Sh35 billion from Sh36 billion the previous year. Co-operative Bank of Kenya (Co-op Bank), on the other hand, saw its provisions go up to Sh37.2 billion from Sh32.8 billion. This came as its dud loans rose to Sh70 billion from Sh61 billion in the nine-month period. Absa Bank Kenya also experienced a similar trend, with provisions growing to Sh20.7 billion from Sh17.8 billion. This came bad loans rose to Sh42.6 billion from Sh34.5 billion. Central Bank of Kenya (CBK) Governor Kamau Thugge earlier cautioned banks to prepare for a surge in defaults by increasing their provisions, as non-performing loans continue to be a major concern in the banking sector. Other lenders, however, remain bullish and have not raised their provisions but instead lowered them as they believe their loans are performing. Standard Chartered Bank Kenya, lowered its provisions, reaching Sh5.9 billion, while its bad loans decreased to Sh12.1 billion from Sh23.5 billion. Banks have been facing ever-rising loan defaults, after the onset of Covid-19 in March 2020, which affected millions of households as their incomes dropped and businesses ground to a halt. Banks with high levels of non-performing loans are also unable to lend to households and companies. This is harmful to the economy as a whole. When granting loans to their clients, banks always expose themselves to credit risk – the risk that the borrower may not pay back the loan. When this happens, the loan is said to become non-performing. A loan becomes non-performing when the bank considers that the borrower is unlikely to repay or when the borrower is 90 days late on payments. Kenya’s economic outlook has darkened significantly , with CBK revising its growth projections for 2024 down to 5.1 per cent from 5.4 per cent. CBK Governor Kamau Thugge announced the new forecast recently during a press briefing, highlighting a troubling deceleration across key sectors, including construction, mining, and quarrying. The downward revision reflects the economy’s sluggish performance in the second quarter of the year, primarily due to contractions in key sectors like construction and mining. CBK data indicates that lending to the private sector has sharply decelerated, with growth plummeting to 1.3 per cent t in August from 3.7 per cent in July. This decline is primarily attributed to a rise in non-performing loans, now at 16.7 per cent of total loans, further tightening the fiscal stranglehold on consumers and businesses alike.
Target has one of the best Black Friday Sales so far , with the lowest prices on Nintendo Switch consoles and video games, the Meta Quest VR headset, Ray-Ban Meta Wayfarer smart glasses, and now the Apple iPad Air . Right now, you can pick up the iPad Air M1 tablet for only $359.99 after a $240 off Target Circle coupon. That's $140 cheaper than the current best price on a 6th gen M2 model. The Target Circle membership is free to join, so everyone can partake in this deal. The iPad Air is a pretty massive upgrade over the standard iPad and is the closest in performance to the iPad Pro. Apple iPad Air 5th Gen 10.9" 64GB WiFi Even though this iPad Air is a previous gen 2022 model, it's still a very relevant tablet in 2024 and a great value at its Black Friday price point. It's equipped with the Apple M1 chip, which is more powerful than the A14 Bionic chip found in the current generation iPad and the A17 Pro found in the current generation iPad Mini. The 10.9" 2360x1640 Retina display with both True Tone and P3 wide color is better quality than the one found on the iPad, and the iPad Air is a smidge thinner and lighter as well. This model is new enough to adopt the universal USB Type-C connector. We chose the iPad Air as our best iPad of 2024 because it’s the ideal tablet for both casual and professional use, from watching videos, listening to music, drawing with the Apple Pencil to getting some work done with the Apple Smart Keyboard Folio or Apple Magic Keyboard . This is the most versatile iPad you can get. More Apple iPad Deals for Black Friday Besides this iPad Air deal, the best Black Friday iPad deals right now are the 10th generation Apple iPad for $249.99, the 6th gen Apple iPad Mini for $299.99, and the current generation iPad Pro models starting at $850. If you're If you're looking for other Apple devices, check out our Apple Black Friday hub with deals on AirPods, Watches, and more. Should I Wait for Better Prices on Black Friday? Black Friday is the best opportunity to score some great deals on electronics, and Apple products are no exception. You might be wondering just how low these prices can go. Although we have no direct feedback from Apple, we have years of our own historical price trends to back up our predictions. At this point, Black Friday is close enough that there's certainly no harm in waiting. The iPads I don't think will drop in price anymore are the iPad 10th Gen, iPad Pro (M4), iPad Mini (6th Gen), and iPad Air (M1). The iPads I think may drop in price are the iPad Mini (A17 Pro) and the iPad Air (M2) . If Amazon isn't your preferred vendor (or if it run sout of stock), I expect these deals to be available at Best Buy and Walmart as well. The Apple Store is also hosting its own Black Friday Sale, although these deals won't be nearly as good as the third-party retailers. Looking for More iPad Resources? If you're not sure which iPad is best for you, we have an iPad guide which details which iPad is ideal for which use case. If you intend want to get an iPad for schoolwork, we have an iPad guide for students as well. If you're looking for options outside of iOS, check out the best Android tablets of 2024. Eric Song is the IGN commerce manager in charge of finding the best gaming and tech deals every day. When Eric isn't hunting for deals for other people at work, he's hunting for deals for himself during his free time.Panthers' close call against Chiefs has coach Dave Canales excited about the direction of the team
DAMASCUS, Syria (AP) — A few days after insurgents in Syria overthrew President Bashar Assad , his ruling Baath party announced it was freezing its activities, marking a stunning change in fortunes for the political group that had ruled for more than six decades. Many members of the party's leadership have gone into hiding and some have fled the country. In a symbolic move, Syria's new rulers have turned the former party headquarters in Damascus into a center where former members of the army and security forces line up to register their names and hand over their weapons. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.AUSTIN, Texas , Dec. 9, 2024 /PRNewswire/ -- Oracle Corporation (NYSE: ORCL) today announced fiscal 2025 Q2 results. Total quarterly revenues were up 9% year-over-year, in both USD and constant currency, to $14.1 billion . Cloud services and license support revenues were up 12% year-over-year, in both USD and constant currency, to $10.8 billion . Cloud license and on-premise license revenues were up 1% in USD and up 3% in constant currency, to $1.2 billion . Q2 GAAP operating income was $4.2 billion . Non-GAAP operating income was $6.1 billion , up 10% in both USD and constant currency. GAAP operating margin was 30%, and non-GAAP operating margin was 43%. GAAP net income was $3.2 billion . Non-GAAP net income was $4.2 billion , up 12% in both USD and constant currency. Q2 GAAP earnings per share was $1.10 , up 24% in USD and up 23% in constant currency, while non-GAAP earnings per share was $1.47 , up 10% in both USD and constant currency. Short-term deferred revenues were $9.4 billion . Over the last twelve months, operating cash flow was $20.3 billion and free cash flow was $9.5 billion . "Record level AI demand drove Oracle Cloud Infrastructure revenue up 52% in Q2, a much higher growth rate than any of our hyperscale cloud infrastructure competitors," said Oracle CEO, Safra Catz . "Growth in the AI segment of our Infrastructure business was extraordinary—GPU consumption was up 336% in the quarter—and we delivered the world's largest and fastest AI SuperComputer scaling up to 65,000 NVIDIA H200 GPUs. With our remaining performance obligation (RPO) up 50% to $97 billion , we believe our already impressive growth rates will continue to climb even higher. This fiscal year, total Oracle Cloud revenue should top $25 billion ." "Oracle Cloud Infrastructure trains several of the world's most important generative AI models because we are faster and less expensive than other clouds," said Oracle Chairman and CTO, Larry Ellison . "And we just signed an agreement with Meta—for them to use Oracle's AI Cloud Infrastructure—and collaborate with Oracle on the development of AI Agents based on Meta's Llama models. The Oracle Cloud trains dozens of specialized AI models and embeds hundreds of AI Agents in cloud applications. For example, Oracle's AI Agents automate drug design, image and genomic analysis for cancer diagnostics, audio updates to electronic health records for patient care, satellite image analysis to predict and improve agricultural output, fraud and money laundering detection, dual-factor biometric computer logins, and real time video weapons detection in schools. Oracle trained AI models and AI Agents will improve the rate of scientific discovery, economic development and corporate growth throughout the world. The scale of the opportunity is unimaginable." The board of directors declared a quarterly cash dividend of $0.40 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on January 9, 2025 , with a payment date of January 23, 2025 . Earnings Conference Call and Webcast Oracle will hold a conference call and webcast today to discuss these results at 4:00 p.m. Central. A live and replay webcast will be available on the Oracle Investor Relations website at www.oracle.com/investor/ . About Oracle Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com . Trademarks Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing. "Safe Harbor" Statement: Statements in this press release relating to future plans, expectations, beliefs, intentions and prospects, including the expectations for converting the Remaining Performance Obligations to revenue, future total Oracle Cloud revenue this fiscal year and the scale of opportunity for Oracle trained AI models and AI Agents, are "forward-looking statements" and are subject to material risks and uncertainties. Risks and uncertainties that could affect our current expectations and our actual results, include, among others: our ability to develop new products and services, integrate acquired products and services and enhance our existing products and services, including our AI products; our management of complex cloud and hardware offerings, including the sourcing of technologies and technology components; our ability to secure data center capacity; significant coding, manufacturing or configuration errors in our offerings; risks associated with acquisitions; economic, political and market conditions; information technology system failures, privacy and data security concerns; cybersecurity breaches; unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or by contacting Oracle's Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on the Oracle Investor Relations website at www.oracle.com/investor/ . All information set forth in this press release is current as of December 9, 2024 . Oracle undertakes no duty to update any statement in light of new information or future events. ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) Three Months Ended November 30, % Increase % Increase (Decrease) % of % of (Decrease) in Constant 2024 Revenues 2023 Revenues in US $ Currency (1) REVENUES Cloud services and license support $ 10,806 77 % $ 9,639 74 % 12 % 12 % Cloud license and on-premise license 1,195 9 % 1,178 9 % 1 % 3 % Hardware 728 5 % 756 6 % (4 %) (3 %) Services 1,330 9 % 1,368 11 % (3 %) (3 %) Total revenues 14,059 100 % 12,941 100 % 9 % 9 % OPERATING EXPENSES Cloud services and license support 2,746 19 % 2,274 17 % 21 % 21 % Hardware 172 1 % 213 2 % (20 %) (19 %) Services 1,167 8 % 1,253 10 % (7 %) (7 %) Sales and marketing 2,190 16 % 2,093 16 % 5 % 5 % Research and development 2,471 18 % 2,226 17 % 11 % 11 % General and administrative 387 3 % 375 3 % 3 % 3 % Amortization of intangible assets 591 4 % 755 6 % (22 %) (22 %) Acquisition related and other 31 0 % 47 0 % (34 %) (33 %) Restructuring 84 1 % 83 1 % 0 % 1 % Total operating expenses 9,839 70 % 9,319 72 % 6 % 6 % OPERATING INCOME 4,220 30 % 3,622 28 % 17 % 16 % Interest expense (866) (6 %) (888) (7 %) (3 %) (3 %) Non-operating income (expenses), net 36 0 % (14) 0 % * * INCOME BEFORE INCOME TAXES 3,390 24 % 2,720 21 % 25 % 24 % Provision for income taxes 239 2 % 217 2 % 11 % 10 % NET INCOME $ 3,151 22 % $ 2,503 19 % 26 % 26 % EARNINGS PER SHARE: Basic $ 1.13 $ 0.91 Diluted $ 1.10 $ 0.89 WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic 2,790 2,746 Diluted 2,869 2,817 (1) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2024, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. Movements in international currencies relative to the United States dollar during the three months ended November 30, 2024 compared with the corresponding prior year period increased our operating income by 1 percentage point. * Not meaningful ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) ($ in millions, except per share data) Three Months Ended November 30, % Increase (Decrease) in US $ % Increase (Decrease) in Constant Currency (2) 2024 2024 2023 2023 GAAP Non-GAAP GAAP Non-GAAP GAAP Adj. Non-GAAP GAAP Adj. Non-GAAP TOTAL REVENUES $ 14,059 $ - $ 14,059 $ 12,941 $ - $ 12,941 9 % 9 % 9 % 9 % TOTAL OPERATING EXPENSES $ 9,839 $ (1,876) $ 7,963 $ 9,319 $ (1,914) $ 7,405 6 % 8 % 6 % 8 % Stock-based compensation (3) 1,170 (1,170) - 1,029 (1,029) - 14 % * 14 % * Amortization of intangible assets (4) 591 (591) - 755 (755) - (22 %) * (22 %) * Acquisition related and other 31 (31) - 47 (47) - (34 %) * (33 %) * Restructuring 84 (84) - 83 (83) - 0 % * 1 % * OPERATING INCOME $ 4,220 $ 1,876 $ 6,096 $ 3,622 $ 1,914 $ 5,536 17 % 10 % 16 % 10 % OPERATING MARGIN % 30 % 43 % 28 % 43 % 203 bp. 58 bp. 196 bp. 52 bp. INCOME TAX EFFECTS (5) $ 239 $ 820 $ 1,059 $ 217 $ 655 $ 872 11 % 22 % 10 % 21 % NET INCOME $ 3,151 $ 1,056 $ 4,207 $ 2,503 $ 1,259 $ 3,762 26 % 12 % 26 % 12 % DILUTED EARNINGS PER SHARE $ 1.10 $ 1.47 $ 0.89 $ 1.34 24 % 10 % 23 % 10 % DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 2,869 - 2,869 2,817 - 2,817 2 % 2 % 2 % 2 % (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A. (2) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2024, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. (3) Stock-based compensation was included in the following GAAP operating expense categories: Three Months Ended Three Months Ended November 30, 2024 November 30, 2023 GAAP Adj. Non-GAAP GAAP Adj. Non-GAAP Cloud services and license support $ 158 $ (158) $ - $ 137 $ (137) $ - Hardware 8 (8) - 6 (6) - Services 53 (53) - 45 (45) - Sales and marketing 195 (195) - 174 (174) - Research and development 657 (657) - 573 (573) - General and administrative 99 (99) - 94 (94) - Total stock-based compensation $ 1,170 $ (1,170) $ - $ 1,029 $ (1,029) $ - (4) Estimated future annual amortization expense related to intangible assets as of November 30, 2024 was as follows: Remainder of fiscal 2025 $ 1,092 Fiscal 2026 1,639 Fiscal 2027 672 Fiscal 2028 635 Fiscal 2029 561 Fiscal 2030 522 Thereafter 558 Total intangible assets, net $ 5,679 (5) Income tax effects were calculated reflecting an effective GAAP tax rate of 7.1% and 8.0% in the second quarter of fiscal 2025 and 2024, respectively, and an effective non-GAAP tax rate of 20.1% and 18.8% in the second quarter of fiscal 2025 and 2024, respectively. The difference in our GAAP and non-GAAP tax rates in each of the second quarters of fiscal 2025 and 2024 was primarily due to the net tax effects related to stock-based compensation expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to an income tax benefit that was previously recorded due to the partial realignment of our legal entity structure. * Not meaningful ORACLE CORPORATION Q2 FISCAL 2025 YEAR TO DATE FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) Six Months Ended November 30, % Increase % Increase (Decrease) % of % of (Decrease) in Constant 2024 Revenues 2023 Revenues in US $ Currency (1) REVENUES Cloud services and license support $ 21,324 78 % $ 19,186 75 % 11 % 11 % Cloud license and on-premise license 2,065 8 % 1,987 8 % 4 % 5 % Hardware 1,383 5 % 1,470 6 % (6 %) (5 %) Services 2,594 9 % 2,751 11 % (6 %) (5 %) Total revenues 27,366 100 % 25,394 100 % 8 % 8 % OPERATING EXPENSES Cloud services and license support 5,344 20 % 4,452 18 % 20 % 20 % Hardware 333 1 % 432 2 % (23 %) (22 %) Services 2,314 8 % 2,465 10 % (6 %) (6 %) Sales and marketing 4,226 15 % 4,118 16 % 3 % 3 % Research and development 4,777 18 % 4,442 17 % 8 % 8 % General and administrative 745 3 % 769 3 % (3 %) (3 %) Amortization of intangible assets 1,215 4 % 1,518 6 % (20 %) (20 %) Acquisition related and other 44 0 % 58 0 % (25 %) (25 %) Restructuring 157 1 % 222 1 % (29 %) (29 %) Total operating expenses 19,155 70 % 18,476 73 % 4 % 4 % OPERATING INCOME 8,211 30 % 6,918 27 % 19 % 19 % Interest expense (1,708) (6 %) (1,760) (7 %) (3 %) (3 %) Non-operating income (expenses), net 57 0 % (63) 0 % * * INCOME BEFORE INCOME TAXES 6,560 24 % 5,095 20 % 29 % 30 % Provision for income taxes 480 2 % 172 1 % 179 % 181 % NET INCOME $ 6,080 22 % $ 4,923 19 % 24 % 24 % EARNINGS PER SHARE: Basic $ 2.19 $ 1.80 Diluted $ 2.13 $ 1.75 WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic 2,775 2,737 Diluted 2,860 2,820 (1) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2024, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. Movements in international currencies relative to the United States dollar during the six months ended November 30, 2024 compared with the corresponding prior year period had no impact to our total revenues, total operating expenses and operating income. * Not meaningful ORACLE CORPORATION Q2 FISCAL 2025 YEAR TO DATE FINANCIAL RESULTS RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) ($ in millions, except per share data) Six Months Ended November 30, % Increase (Decrease) in US $ % Increase (Decrease) in Constant Currency (2) 2024 2024 2023 2023 GAAP Non-GAAP GAAP Non-GAAP GAAP Adj. Non-GAAP GAAP Adj. Non-GAAP TOTAL REVENUES $ 27,366 $ - $ 27,366 $ 25,394 $ - $ 25,394 8 % 8 % 8 % 8 % TOTAL OPERATING EXPENSES $ 19,155 $ (3,592) $ 15,563 $ 18,476 $ (3,676) $ 14,800 4 % 5 % 4 % 6 % Stock-based compensation (3) 2,176 (2,176) - 1,878 (1,878) - 16 % * 16 % * Amortization of intangible assets (4) 1,215 (1,215) - 1,518 (1,518) - (20 %) * (20 %) * Acquisition related and other 44 (44) - 58 (58) - (25 %) * (25 %) * Restructuring 157 (157) - 222 (222) - (29 %) * (29 %) * OPERATING INCOME $ 8,211 $ 3,592 $ 11,803 $ 6,918 $ 3,676 $ 10,594 19 % 11 % 19 % 12 % OPERATING MARGIN % 30 % 43 % 27 % 42 % 276 bp. 141 bp. 279 bp. 140 bp. INCOME TAX EFFECTS (5) $ 480 $ 1,500 $ 1,980 $ 172 $ 1,478 $ 1,650 179 % 20 % 181 % 21 % NET INCOME $ 6,080 $ 2,092 $ 8,172 $ 4,923 $ 2,198 $ 7,121 24 % 15 % 24 % 15 % DILUTED EARNINGS PER SHARE $ 2.13 $ 2.86 $ 1.75 $ 2.53 22 % 13 % 23 % 14 % DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 2,860 - 2,860 2,820 - 2,820 1 % 1 % 1 % 1 % (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A. (2) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2024, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. (3) Stock-based compensation was included in the following GAAP operating expense categories: Six Months Ended Six Months Ended November 30, 2024 November 30, 2023 GAAP Adj. Non-GAAP GAAP Adj. Non-GAAP Cloud services and license support $ 299 $ (299) $ - $ 248 $ (248) $ - Hardware 14 (14) - 11 (11) - Services 96 (96) - 78 (78) - Sales and marketing 356 (356) - 309 (309) - Research and development 1,226 (1,226) - 1,057 (1,057) - General and administrative 185 (185) - 175 (175) - Total stock-based compensation $ 2,176 $ (2,176) $ - $ 1,878 $ (1,878) $ - (4) Estimated future annual amortization expense related to intangible assets as of November 30, 2024 was as follows: Remainder of fiscal 2025 $ 1,092 Fiscal 2026 1,639 Fiscal 2027 672 Fiscal 2028 635 Fiscal 2029 561 Fiscal 2030 522 Thereafter 558 Total intangible assets, net $ 5,679 (5) Income tax effects were calculated reflecting an effective GAAP tax rate of 7.3% and 3.4% in the first half of fiscal 2025 and 2024, respectively, and an effective non-GAAP tax rate of 19.5% and 18.8% in the first half of fiscal 2025 and 2024, respectively. The difference in our GAAP and non-GAAP tax rates in each of the first half of fiscal 2025 and 2024 was primarily due to the net tax effects related to stock-based compensation expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to an income tax benefit that was previously recorded due to the partial realignment of our legal entity structure. * Not meaningful ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS CONDENSED CONSOLIDATED BALANCE SHEETS ($ in millions) November 30, May 31, 2024 2024 ASSETS Current Assets: Cash and cash equivalents $ 10,941 $ 10,454 Marketable securities 370 207 Trade receivables, net 8,177 7,874 Prepaid expenses and other current assets 4,015 4,019 Total Current Assets 23,503 22,554 Non-Current Assets: Property, plant and equipment, net 26,432 21,536 Intangible assets, net 5,679 6,890 Goodwill, net 62,204 62,230 Deferred tax assets 11,984 12,273 Other non-current assets 18,681 15,493 Total Non-Current Assets 124,980 118,422 TOTAL ASSETS $ 148,483 $ 140,976 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Notes payable and other borrowings, current $ 8,162 $ 10,605 Accounts payable 2,679 2,357 Accrued compensation and related benefits 1,653 1,916 Deferred revenues 9,430 9,313 Other current liabilities 7,128 7,353 Total Current Liabilities 29,052 31,544 Non-Current Liabilities: Notes payable and other borrowings, non-current 80,462 76,264 Income taxes payable 9,553 10,817 Deferred tax liabilities 2,864 3,692 Other non-current liabilities 12,316 9,420 Total Non-Current Liabilities 105,195 100,193 Stockholders' Equity 14,236 9,239 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 148,483 $ 140,976 ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ($ in millions) Six Months Ended November 30, 2024 2023 Cash Flows From Operating Activities: Net income $ 6,080 $ 4,923 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 1,712 1,510 Amortization of intangible assets 1,215 1,518 Deferred income taxes (601) (1,049) Stock-based compensation 2,176 1,878 Other, net 298 331 Changes in operating assets and liabilities: (Increase) decrease in trade receivables, net (451) 145 Decrease in prepaid expenses and other assets 676 301 Decrease in accounts payable and other liabilities (1,143) (1,048) Decrease in income taxes payable (1,685) (1,541) Increase in deferred revenues 454 149 Net cash provided by operating activities 8,731 7,117 Cash Flows From Investing Activities: Purchases of marketable securities and other investments (636) (515) Proceeds from sales and maturities of marketable securities and other investments 356 157 Acquisitions, net of cash acquired - (59) Capital expenditures (6,273) (2,394) Net cash used for investing activities (6,553) (2,811) Cash Flows From Financing Activities: Payments for repurchases of common stock (300) (600) Proceeds from issuances of common stock 307 426 Shares repurchased for tax withholdings upon vesting of restricted stock-based awards (898) (1,733) Payments of dividends to stockholders (2,221) (2,190) (Repayments of) proceeds from issuances of commercial paper, net (396) 1,749 Proceeds from issuances of senior notes and term loan credit agreements, net of issuance costs 11,837 - Repayments of senior notes and term loan credit agreements (9,700) (3,500) Other, net (276) 31 Net cash used for financing activities (1,647) (5,817) Effect of exchange rate changes on cash and cash equivalents (44) (10) Net increase (decrease) in cash and cash equivalents 487 (1,521) Cash and cash equivalents at beginning of period 10,454 9,765 Cash and cash equivalents at end of period $ 10,941 $ 8,244 ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS FREE CASH FLOW - TRAILING 4-QUARTERS (1) ($ in millions) Fiscal 2024 Fiscal 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 GAAP Operating Cash Flow $ 17,745 $ 17,039 $ 18,239 $ 18,673 $ 19,126 $ 20,287 Capital Expenditures (8,290) (6,935) (5,981) (6,866) (7,855) (10,745) Free Cash Flow $ 9,455 $ 10,104 $ 12,258 $ 11,807 $ 11,271 $ 9,542 Operating Cash Flow % Growth over prior year 68 % 13 % 18 % 9 % 8 % 19 % Free Cash Flow % Growth over prior year 76 % 20 % 68 % 39 % 19 % (6 %) GAAP Net Income $ 9,375 $ 10,137 $ 10,642 $ 10,467 $ 10,976 $ 11,624 Operating Cash Flow as a % of Net Income 189 % 168 % 171 % 178 % 174 % 175 % Free Cash Flow as a % of Net Income 101 % 100 % 115 % 113 % 103 % 82 % (1) To supplement our statements of cash flows presented on a GAAP basis, we use non-GAAP measures of cash flows on a trailing 4-quarter basis to analyze cash flow generated from operations. We believe free cash flow is also useful as one of the bases for comparing our performance with our competitors. The presentation of non-GAAP free cash flow is not meant to be considered in isolation or as an alternative to net income as an indicator of our performance, or as an alternative to cash flows from operating activities as a measure of liquidity. ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1) ($ in millions) Fiscal 2024 Fiscal 2025 Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL REVENUES BY OFFERINGS Cloud services $ 4,635 $ 4,775 $ 5,054 $ 5,311 $ 19,774 $ 5,623 $ 5,937 $ 11,559 License support 4,912 4,864 4,909 4,923 19,609 4,896 4,869 9,765 Cloud services and license support 9,547 9,639 9,963 10,234 39,383 10,519 10,806 21,324 Cloud license and on-premise license 809 1,178 1,256 1,838 5,081 870 1,195 2,065 Hardware 714 756 754 842 3,066 655 728 1,383 Services 1,383 1,368 1,307 1,373 5,431 1,263 1,330 2,594 Total revenues $ 12,453 $ 12,941 $ 13,280 $ 14,287 $ 52,961 $ 13,307 $ 14,059 $ 27,366 AS REPORTED REVENUE GROWTH RATES Cloud services 30 % 25 % 25 % 20 % 25 % 21 % 24 % 23 % License support 2 % 2 % 1 % 0 % 1 % 0 % 0 % 0 % Cloud services and license support 13 % 12 % 12 % 9 % 12 % 10 % 12 % 11 % Cloud license and on-premise license (10 %) (18 %) (3 %) (15 %) (12 %) 7 % 1 % 4 % Hardware (6 %) (11 %) (7 %) (1 %) (6 %) (8 %) (4 %) (6 %) Services 2 % (2 %) (5 %) (6 %) (3 %) (9 %) (3 %) (6 %) Total revenues 9 % 5 % 7 % 3 % 6 % 7 % 9 % 8 % CONSTANT CURRENCY REVENUE GROWTH RATES (2) Cloud services 29 % 24 % 24 % 20 % 24 % 22 % 24 % 23 % License support 0 % 0 % 1 % 1 % 0 % 0 % 0 % 0 % Cloud services and license support 12 % 11 % 11 % 10 % 11 % 11 % 12 % 11 % Cloud license and on-premise license (11 %) (19 %) (3 %) (14 %) (12 %) 8 % 3 % 5 % Hardware (8 %) (12 %) (7 %) 0 % (7 %) (8 %) (3 %) (5 %) Services 1 % (3 %) (5 %) (6 %) (3 %) (8 %) (3 %) (5 %) Total revenues 8 % 4 % 7 % 4 % 6 % 8 % 9 % 8 % CLOUD SERVICES AND LICENSE SUPPORT REVENUES BY ECOSYSTEM Applications cloud services and license support $ 4,471 $ 4,474 $ 4,584 $ 4,642 $ 18,172 $ 4,769 $ 4,784 $ 9,552 Infrastructure cloud services and license support 5,076 5,165 5,379 5,592 21,211 5,750 6,022 11,772 Total cloud services and license support revenues $ 9,547 $ 9,639 $ 9,963 $ 10,234 $ 39,383 $ 10,519 $ 10,806 $ 21,324 AS REPORTED REVENUE GROWTH RATES Applications cloud services and license support 11 % 10 % 10 % 6 % 9 % 7 % 7 % 7 % Infrastructure cloud services and license support 15 % 14 % 13 % 12 % 14 % 13 % 17 % 15 % Total cloud services and license support revenues 13 % 12 % 12 % 9 % 12 % 10 % 12 % 11 % CONSTANT CURRENCY REVENUE GROWTH RATES (2) Applications cloud services and license support 11 % 9 % 10 % 6 % 9 % 7 % 7 % 7 % Infrastructure cloud services and license support 14 % 12 % 13 % 13 % 13 % 14 % 17 % 16 % Total cloud services and license support revenues 12 % 11 % 11 % 10 % 11 % 11 % 12 % 11 % GEOGRAPHIC REVENUES Americas $ 7,841 $ 8,067 $ 8,270 $ 8,945 $ 33,122 $ 8,372 $ 8,933 $ 17,305 Europe/Middle East/Africa 3,005 3,170 3,316 3,539 13,030 3,228 3,381 6,609 Asia Pacific 1,607 1,704 1,694 1,803 6,809 1,707 1,745 3,452 Total revenues $ 12,453 $ 12,941 $ 13,280 $ 14,287 $ 52,961 $ 13,307 $ 14,059 $ 27,366 (1) The sum of the quarterly information presented may vary from the year-to-date information presented due to rounding. (2) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2024 and 2023 for the fiscal 2025 and fiscal 2024 constant currency growth rate calculations presented, respectively, rather than the actual exchange rates in effect during the respective periods. APPENDIX A ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS EXPLANATION OF NON-GAAP MEASURES To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude certain business combination accounting entries and expenses related to acquisitions, as well as other significant expenses including stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on these non-GAAP measures. Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects: View original content: https://www.prnewswire.com/news-releases/oracle-announces-fiscal-2025-second-quarter-financial-results-302326639.html SOURCE Oracle
Now Syria’s long-ruling Baath party is collapsing, too
Punjab govt should not misuse police, stand with us: Farmer leader
WESTERN BUREAU: A slow start did not dictate Dr Aubrey Stewart’s journey. Hailing from the inner-city community of Albion Lane in Montego Bay, St James, he struggled through poverty and gun violence. Among the atrocities he faced was seeing his family’s home being firebombed and shot at during gang violence in 2007, resulting in his mother and grandmother being injured. Stewart, who then regarded himself as “a slow learner” due to his academic struggles while attending Cornwall College, which was a stone’s throw from his home, was nonetheless ambitious and hungry to succeed. Now, his aspirations and tenacity have paid off despite the struggles. Stewart, who is now 31, and who was a Fulbright Scholarship recipient, recently completed a PhD in public policy, specialising in crime policy evaluation and program design, at Florida International University (FIU). In a recent interview with The Gleaner , Stewart reminisced on his academic journey from Cornwall College to FIU. While explaining that he was never a high achiever during high school, Stewart stated that joining the cadets helped to develop his sense of discipline, which brought him to obtain three university degrees. But, before heading off to university, Stewart had to tackle the hurdles of completing high school. ‘Cadet made me more disciplined’ “I was one of the first persons in my area to attend Cornwall College and then, after that, it was like a ripple effect. Other young boys were getting the opportunity to attend Cornwall. I was not necessarily a high achiever there. I was in cadet and did a lot of community service, so I would say that my high school journey started very slow, but cadet made me a lot more disciplined and I started focusing on school. I realised that my grades started getting a little bit better,” Stewart said. Though his Caribbean Examination Council (CXC) grades weren’t impressive, Stewart worked hard to land a place at The University of West Indies Western Jamaica Campus (WJC), where he blossomed while pursuing a bachelor’s degree in political leadership, strategy and management. “I never got all the ones that my classmates were getting. Mi get the one, two, three, four and five. I couldn’t afford to attend sixth form at Cornwall. Some persons were giving scholarships and because of my discipline and community service they decided to award me with sponsorship so I could attend sixth form,” Stewart said. “I went to UWI WJC and my grades started getting better. I was campus chairman ... and I realised that I actually could do this. The ones and fives I used to get in high school didn’t matter anymore.” While pursuing his undergraduate studies, Stewart was involved in several community-based initiatives. He maintained a strong relationship with his community and further honed his skills. He pursued a master’s degree in comparative politics and political theory through a partnership with UWI and the University of Cambridge. He later worked as a data scientist and research fellow in the Ministry of National Security and the Office of the Prime Minister in Jamaica before receiving the Fulbright Scholarship in 2021. During his doctoral studies, Stewart maintained a 4.0 grade point average and was inducted into the Phi Kappa Phi honour society, the oldest academic society in the United States (US). He is now proud of the strides he has made. “I started pretty slow because I didn’t have an academic support system. I think I was pretty slow because, in grade nine, I would shy away from just reading in class. I didn’t want to read because the boys would laugh at me. It was just a journey but I am proud and grateful. I would not change anything about my growing up. It was pretty hard but I would not change it. There are many young people in inner-city communities, just like Albion Lane, and they are slow but that is not it for them. Sometimes it just takes one opportunity to open many more gates.” Stewart further stated that his family is elated by his achievements. “They are extremely happy for me. Maybe not all of my family members understand what a PhD means or what it entails, but they are proud,” he said. In the meantime, Stewart has since returned home with an important mission ahead. He told The Gleaner that he refused an opportunity to become a professor in the US due to his love and dedication to Jamaica. “I got an opportunity in the US to be a professor but decided to turn down the opportunity and come to Jamaica ... to serve my country [as a] consultant working on national security projects.” With the knowledge gained over the years, Stewart is aiming to make an impact in the country’s national security ministry. His PhD dissertation focused heavily on crime prevention policies implemented in Caribbean countries and ways to improve on those initiatives. “What I have been doing in my dissertation studies is to create tailored crime prevention policies and initiatives that this government and Caribbean governments can use to enhance their security apparatus. I have evaluated all the different types of policies that Jamaica, Trinidad and Tobago have implemented, and also policies in other Latin American countries to see how effective they have been. That’s the type of work that I have been doing and I’ll be putting some of that in place in Jamaica,” he said. rochelle.clayton@gleanerjm.com
BJP always focused on minority voters, but without appeasement: HimantaBanque Cantonale Vaudoise acquired a new position in shares of Blackstone Inc. ( NYSE:BX – Free Report ) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 431 shares of the asset manager’s stock, valued at approximately $66,000. Several other hedge funds also recently modified their holdings of the company. Wulff Hansen & CO. increased its holdings in shares of Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after buying an additional 7,281,128 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Blackstone by 2.3% during the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after purchasing an additional 141,616 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Blackstone by 0.5% during the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock valued at $613,581,000 after purchasing an additional 21,450 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after purchasing an additional 4,173,971 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Blackstone by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,591,452 shares of the asset manager’s stock valued at $243,699,000 after purchasing an additional 24,199 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock. Insider Activity at Blackstone In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link . Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders own 1.00% of the company’s stock. Analyst Ratings Changes View Our Latest Research Report on BX Blackstone Trading Up 2.6 % Shares of NYSE:BX opened at $199.05 on Friday. Blackstone Inc. has a 12 month low of $105.51 and a 12 month high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $165.86 and its 200 day simple moving average is $142.62. The firm has a market cap of $143.71 billion, a price-to-earnings ratio of 68.40, a PEG ratio of 1.65 and a beta of 1.49. Blackstone ( NYSE:BX – Get Free Report ) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. As a group, research analysts forecast that Blackstone Inc. will post 4.4 EPS for the current fiscal year. Blackstone Increases Dividend The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.73%. Blackstone’s dividend payout ratio is 118.21%. Blackstone Profile ( Free Report ) Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. Recommended Stories Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. ( NYSE:BX – Free Report ). Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter .
Healthcare for all? Need data, AI and funding
Raven Roundup: Men's basketball outruns Carthage
FORT SMITH, Ark., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Rally House, a national sports apparel and merchandise retailer, officially opened their doors to their newest Arkansas storefront location on Friday, November 22 nd , with Rally House Fort Smith Pavilions. Rally House Fort Smith Pavilions is the company's fourth new storefront to open in Arkansas this year, bringing their total store count in the state up to seven locations. Find Rally House in the Fort Smith Pavilions shopping center, between Michael's and Best Buy. Rally House Fort Smith Pavilions helps fill the need of a premier, high-quality sports merchandise retailer in the Fort Smith area. This brick-and-mortar location will be home to a vast assortment of Arkansas Razorbacks merchandise but will also carry great products for other celebrated teams in the area including the Dallas Cowboys, Kansas City Chiefs, Texas Rangers, Arkansas State, and Central Arkansas, among others. The product selection Rally House Fort Smith Pavilions provides will be everchanging as the company is constantly restocking their shelves with the most popular gear and newest styles. "We are so excited to be open in Fort Smith and ready to help customers cross everyone off on their list for this holiday season," says VP of Marketing Strategy, Aaron Johnson. "Rally House Fort Smith Pavilions is a great spot for us to open in, they have some of the most passionate fans in all of sports there and will be a convenient location for traveling fans to stop in on their way to Fayetteville from southern and western Arkansas," added Johnson. Rally House Fort Smith Pavilions provides residents and visitors of the area a unique shopping experience with a wide selection of team products to browse in-store. Pairing alongside their officially licensed team merchandise, Rally House also carries locally inspired products and gifts celebrating area businesses, landmarks, and destinations. There is truly something for every fan at Rally House Fort Smith Pavilions. The staff at Rally House Fort Smith Pavilions is eager to assist customers and the company looks forward to further expanding their presence in the state of Arkansas. Customers are invited to visit Rally House Fort Smith Pavilions store page and follow the company on Instagram ( @rally_house ) and Facebook ( @RallyHouse ) for updates and current store information. About Rally House Rally House and Sampler Stores Inc. is a family-owned specialty boutique that offers a large selection of apparel, hats, gifts and home décor representing local NCAA, NFL, MLB, NBA, NHL, and MLS teams in addition to locally inspired apparel, gifts and food. Proudly based in Lenexa, Kansas, Rally House operates 275+ locations across 23 states. CONTACT: Aaron Johnson, VP of Marketing Strategy media@rallyhouse.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
What are the main challenges facing China’s relations with the European Union? Are they different from previous decades and, if so, why? India, Africa and Latin America – but not China – have been listed by the European Union as its next-generation strategic partnerships. In the EU’s view, its triple positioning on China – as a cooperative partner, an economic competitor and a systemic rival – is based on reality and objectively reflects the status and trajectory of Europe’s policy logic towards China. Meanwhile, China is still focused on the expectations of a bilateral relationship.ISLAMABAD - Chairman of the Prime Minister’s Youth Program Rana Mashhood Ahmad Khan announced on Sunday that the PML-N led government has unveiled a range of initiatives designed to uplift women, transgender individuals and people with disabilities, with the ultimate goal of fostering inclusive growth and social equality in Pakistan. Mashhood revealed in an exclusive interview with PTV news channel that Prime Minister Shahbaz Sharif was driving a series of initiatives to uplift marginalized communities, including women, transgender individuals and People with Disabilities with the aim to provide them equal opportunities in the society. The PML-N government has consistently demonstrated its commitment to empowering marginalized communities, particularly women, through various initiatives and policies, he said and added, the Prime Minister’s Youth Programme has taken a monumental step towards inclusivity and empowerment by hosting its 1st Dignity Awards, celebrating the remarkable achievements of women, transgender persons and women with disabilities. Multiple cars pileup in Dera Ismail Khan leaves 20 injured Rana Mashhood said that this initiative shined a spotlight on the incredible contributions of these individuals, promoting equal rights and opportunities for all. It is particularly noteworthy that the programme is recognizing the achievements of women with disabilities, who often face double discrimination due to their gender and disability, he said, adding, this acknowledgment is a crucial step towards breaking down barriers and promoting inclusivity. ‘The Dignity Awards’ serve as a powerful reminder that everyone deserves equal rights and opportunities, regardless of their gender, sexual orientation, or abilities, he highlighted. Responding to a query, he stated that this year, under the Youth Loan Program, various facilitation centers would be established, with a special focus on empowering women and persons with disabilities. Notably, a minimum of 25 percent of the program’s targets will be reserved for women, ensuring they receive prioritized support, he added. Additionally, specialized projects will be introduced to cater to the unique needs of women and persons with disabilities, promoting inclusive economic growth and equal opportunities for all, he added. The government is also taking proactive steps to promote inclusive education and employment opportunities, he said, adding that, specifically, PM Shahbaz Sharif was focusing on IT and technical education, recognizing the immense potential of these fields to drive growth and innovation. Gwadar Airport’s landing system in bad weather made functional Tags: mashhood unveils plan empower
Friendly reminder |
The authenticity of this information has not been verified by this website and is for your reference only. Please do not reprint without permission. If authorized by this website, it should be used within the scope of authorization and marked with "Source: this website". |
Special attention |
Some articles on this website are reprinted from other media. The purpose of reprinting is to convey more industry information, which does not mean that this website agrees with their views and is responsible for their authenticity. Those who make comments on this website forum are responsible for their own content. This website has the right to reprint or quote on the website. The comments on the forum do not represent the views of this website. If you need to use the information provided by this website, please contact the original author. The copyright belongs to the original author. If you need to contact this website regarding copyright, please do so within 15 days. |