Emboldened 'manosphere' accelerates threats and demeaning language toward women after US election
45th GCC Summit convenes in Kuwait on SundayNEW YORK , Dec. 10, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global printers market size is estimated to grow by USD 10.65 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 3.46% during the forecast period. The report provides a comprehensive forecast of key segments below- Segmentation Overview Get a glance at the market contribution of rest of the segments - Download a FREE Sample Report in minutes! 1.1 Fastest growing segment: Laser printing is a popular technology in the printing industry, utilizing electrophotography or electrostatic charges for image production. In this process, a laser beam is used to induce charges, enabling precise printing. Laser printing caters to various applications, including variable data and wide-format printing. Compared to inkjet and LED printing, laser printing boasts advantages such as speed and precision. Laser printers are more expensive upfront but offer lower running costs due to their use of dry ink. Primarily used in offices, laser printers have gained popularity among enterprises due to their accuracy and efficiency. In January 2021 , Ninestar Co. Ltd., a leading laser printer and toner cartridge manufacturer, introduced its Elite Series, consisting of six laser printer models. Key growth factors include the emergence of compact laser printers, increasing demand for A4 and A3 laser multifunction printers from enterprises, and declining laser printer prices. However, the emergence of ink tank printers may hinder growth during the forecast period. Despite this, the demand for laser printing technology is expected to remain steady due to enterprise demand for laser multifunction printers. Analyst Review The printing market encompasses a wide range of printers designed for various applications, from A4 office printers to large-format packaging printers. Mobile printing technology enables users to print from their smartphones and tablets, making printing more convenient than ever. Color printing has become the norm, with inkjet and solvent ink printers leading the charge. The ecosystem of inks and software plays a crucial role in delivering high-quality prints. Printers have evolved into electronic tools, capable of processing text and images from computers and other devices via data cables, USB, short-range radio, or Bluetooth. The hardware and output technology behind these devices transform electronic data into tangible documents and photos, making them essential computer peripherals for both personal and professional use. Market Overview The printing market encompasses a wide range of printers and printing technologies, including mobile printing, color printing, packaging printing, and analog and digital printing. Entry-level products like A4 printers cater to individual consumers, while businesses rely on multi-functional printers, copiers, and multifunctional systems. Inkjet printing uses various types of inks such as solvent, water-based, UV-based, LED, and UV-cured inks, while toner is used in laser printers. Cloud-based computing and software ecosystems facilitate digital integration, enabling users to print from various devices like computers, smartphones, and tablets. Ink cost is a significant factor, with inkjet printer cartridges available in various sizes and ink subscriptions offering cost savings. Environmental concerns include the use of heavy metals and energy consumption, as well as the environmental impact of printing processes and carbon emissions contributing to climate change. Companies are addressing these issues through the use of eco-friendly materials like ocean-bound plastic and ink tanks that reduce waste. Security features, such as encryption and access control, are increasingly important for both residential and commercial printers, especially in the context of managed print services and digital integration with platforms like Dropbox and Google Drive. The global printer market includes various types of printers, including ink tank printers, monochrome and color printers, wired and wireless printers, and standalone printers or MFPs. To understand more about this market- Download a FREE Sample Report in minutes! 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Venodr Landscape 11 Vendor Analysis 11.1 HP Development Company, L.P. 11.2 Canon, Inc 11.3 Seiko Epson Corporation 11.4 Brother Industries Ltd 11.5 Xerox Holdings Corporation 11.6 FUJIFILM Corporation 11.7 Roland DG Corporation 11.8 Ricoh company Ltd 11.9 Panasonic Corporation 11.10 Toshiba Corporation 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia: https://www.prnewswire.com/news-releases/printers-market-to-increase-by-usd-10-65-billion-2023-2028-driven-by-technology-type-and-geography-with-ai-impacting-market-trends---technavio-302326345.html SOURCE TechnavioITV Emmerdale fans 'work out' true identity of Steph Milligan's dad - and he's in the village
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iCAD ( NASDAQ:ICAD – Get Free Report ) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday. iCAD Price Performance Shares of ICAD opened at $1.54 on Thursday. The company’s fifty day moving average price is $1.72 and its 200-day moving average price is $1.54. iCAD has a 1-year low of $1.18 and a 1-year high of $2.65. The firm has a market capitalization of $40.87 million, a PE ratio of -11.85 and a beta of 1.47. Institutional Inflows and Outflows A number of hedge funds have recently modified their holdings of ICAD. Virtu Financial LLC boosted its position in iCAD by 55.6% in the first quarter. Virtu Financial LLC now owns 21,286 shares of the technology company’s stock valued at $34,000 after buying an additional 7,604 shares during the last quarter. Perritt Capital Management Inc lifted its stake in iCAD by 14.2% during the 2nd quarter. Perritt Capital Management Inc now owns 159,900 shares of the technology company’s stock valued at $208,000 after acquiring an additional 19,917 shares during the period. Essex LLC purchased a new stake in shares of iCAD in the 3rd quarter valued at $216,000. Finally, Perritt Capital Management Inc. increased its stake in shares of iCAD by 7.5% in the first quarter. Perritt Capital Management Inc. now owns 139,983 shares of the technology company’s stock worth $225,000 after acquiring an additional 9,717 shares during the period. 24.61% of the stock is owned by institutional investors and hedge funds. iCAD Company Profile iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis. Recommended Stories Receive News & Ratings for iCAD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iCAD and related companies with MarketBeat.com's FREE daily email newsletter .F1 closer to approving expanded grid for GM entryNEW YORK , Dec. 10, 2024 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of PACS Group Inc. (NYSE: PACS) of (i) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") in connection with the Company's April 11, 2024 initial public offering ("IPO"); (ii) securities between April 11, 2024 and November 5, 2024 , both dates inclusive (the "Class Period"); and/or (iii) common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's September 2024 secondary public offering ("SPO"), of the important January 13, 2025 lead plaintiff deadline. So what: If you purchased PACS common stock pursuant and/or traceable to the IPO and/or securities 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 PACS class action, go to https://rosenlegal.com/submit-form/?case_id=30617 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. 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 13, 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 has 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, the Registration Statement and defendants made false and/or misleading statements and/or failed to disclose that: (1) PACS engaged in a "scheme" to submit false Medicare claims which "drove more than 100% of PACS' operating and net income from 2020 – 2023"; (2) PACS engaged in a "scheme" to "bill thousands of unnecessary respiratory and sensory integration therapies to Medicare"; (3) PACS engaged in a scheme to falsify documentation related to licensure and staffing; and (4) as a result of the foregoing, defendants' positive statements about PACS' business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the PACS class action, go to https://rosenlegal.com/submit-form/?case_id=30617 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com 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: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . 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 case@rosenlegal.com www.rosenlegal.com View original content to download multimedia: https://www.prnewswire.com/news-releases/pacs-investors-have-opportunity-to-lead-pacs-group-inc-securities-fraud-lawsuit-302328029.html SOURCE THE ROSEN LAW FIRM, P. A. Stay Informed: Subscribe to Our Newsletter Today
The New England Patriots will face the Los Angeles Chargers with a new starter in the middle. The organization downgraded center Ben Brown to out on the eve of Saturday’s matchup at Gillette Stadium. Ben Brown has been downgraded to out for #LACvsNE . pic.twitter.com/s4Mz9jPSUP Brown, 26, had been listed as questionable on the final injury report of the short week. He will now remain in the NFL’s concussion protocol after beginning and ending preparations as a non-participant. Since arriving on the 53-man roster in October, Brown had started all 10 games and stayed in for all 667 offensive snaps. His absence leaves reserve interior linemen Lecitus Smith and Cole Strange on deck. The latter, whose tenure spans 27 starts at left guard, recently made his 2024 debut on special teams after sustaining a torn patellar tendon last December. “Once they go into the protocol, it’s really out of our hands,” Patriots head coach Jerod Mayo said during his Thursday press conference . “It’s in the league’s hands. Now, in saying that, we have to have guys ready. You think about Lecitus. You think about Cole. You think about those guys, and they got to be ready to go.” Entering the NFL as an undrafted free agent in 2022 after starting 40 straight games at Ole Miss, Brown spent his rookie year on injured reserve with the Cincinnati Bengals and went between the practice squad and active roster of the Seattle Seahawks last fall. Stints with the Arizona Cardinals and Las Vegas Raiders followed before he made his way to the AFC East. In additional movement , the Patriots have placed cornerback Marcus Jones on injured reserve, activated offensive tackle Caedan Wallace from injured reserve and elevated wide receiver Alex Erickson as well as linebacker Monty Rice from the practice squad. Saturday’s kickoff in Foxborough is set for 1 p.m. ET.Children of the wealthy and connected get special admissions consideration at some elite U.S. universities, according to new filings in a class-action lawsuit originally brought against 17 schools. Georgetown’s then-president, for example, listed a prospective student on his “president’s list” after meeting her and her wealthy father at an Idaho conference known as “summer camp for billionaires,” according to Tuesday court filings in the price-fixing lawsuit filed in Chicago federal court in 2022. Although it’s always been assumed that such favoritism exists, the filings offer a rare peek at the often secret deliberations of university heads and admissions officials. They show how schools admit otherwise unqualified wealthy children because their parents have connections and could possibly donate large sums down the line, raising questions about fairness. Stuart Schmill, the dean of admissions at the Massachusetts Institute of Technology, wrote in a 2018 email that the university admitted four out of six applicants recommended by then-board chairman Robert Millard, including two who “we would really not have otherwise admitted.” The two others were not admitted because they were “not in the ball park, or the push from him was not as strong.” In the email, Schmill said Millard was careful to play down his influence on admissions decisions, but he said the chair also sent notes on all six students and later met with Schmill to share insight “into who he thought was more of a priority.” The filings are the latest salvo in a lawsuit that claims that 17 of the nation’s most prestigious colleges colluded to reduce the competition for prospective students and drive down the amount of financial aid they would offer, all while giving special preference to the children of wealthy donors. “That illegal collusion resulted in the defendants providing far less aid to students than would have been provided in a free market,” said Robert Gilbert, an attorney for the plaintiffs. Since the lawsuit was filed, 10 of the schools have reached settlements to pay out a total of $284 million, including payments of up to $2,000 to current or former students whose financial aid might have been shortchanged over a period of more than two decades. They are Brown, the University of Chicago, Columbia, Dartmouth, Duke, Emory, Northwestern, Rice, Vanderbilt and Yale. Johns Hopkins is working on a settlement and the six schools still fighting the lawsuit are the California Institute of Technology, Cornell, Georgetown, MIT, Notre Dame and the University of Pennsylvania. MIT called the lawsuit and the claims about admissions favoritism baseless. “MIT has no history of wealth favoritism in its admissions; quite the opposite,” university spokesperson Kimberly Allen said. “After years of discovery in which millions of documents were produced that provide an overwhelming record of independence in our admissions process, plaintiffs could cite just a single instance in which the recommendation of a board member helped sway the decisions for two undergraduate applicants." In a statement, Penn also said the case is meritless that the evidence shows that it doesn't favor students whose families have donated or pledged money to the Ivy League school. “Plaintiffs’ whole case is an attempt to embarrass the University about its purported admission practices on issues totally unrelated to this case," the school said. Notre Dame officials also called the case baseless. “We are confident that every student admitted to Notre Dame is fully qualified and ready to succeed,” a university spokesperson said in a statement. The South Bend, Indiana, school, though, did apparently admit wealthy students with subpar academic backgrounds. According to the new court filings, Don Bishop, who was then associate vice president for enrollment at Notre Dame, bluntly wrote about the “special interest” admits in a 2012 email, saying that year's crop had poorer academic records than the previous year's. The 2012 group included 38 applicants who were given a “very low” academic rating, Bishop wrote. He said those students represented “massive allowances to the power of the family connections and funding history,” adding that “we allowed their high gifting or potential gifting to influence our choices more this year than last year.” The final line of his email: “Sure hope the wealthy next year raise a few more smart kids!” Some of the examples pointed to in this week's court filings showed that just being able to pay full tuition would give students an advantage. During a deposition, a former Vanderbilt admissions director said that in some cases, a student would get an edge on the waitlist if they didn’t need financial aid. The 17 schools were part of a decades-old group that got permission from Congress to come up with a shared approach to awarding financial aid. Such an arrangement might otherwise violate antitrust laws, but Congress allowed it as long as the colleges all had need-blind admissions policies, meaning they wouldn't consider a student’s financial situation when deciding who gets in. The lawsuit argues that many colleges claimed to be need-blind but routinely favored the children of alumni and donors. In doing so, the suit says, the colleges violated the Congressional exemption and tainted the entire organization. The group dissolved in recent years when the provision allowing the collaboration expired. The Associated Press’ education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org .Apple's MacBook Pro could ditch the notch for a holepunch in 2026, switch to OLED
NoneJharkhand verdict today: All eyes on who will form next government in stateMesmerizing Lava Flows, Bubbles, and Belches in Iceland
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Clark up for new challenge in Woods and McIlroy's indoor golf leagueDownhole Control Lines Market Outlook: 8.7% CAGR Driving Growth to US$ 12.9 Billion by 2034Djokovic won five to Murray’s two but was the opponent for the Scot’s crowning achievement at Wimbledon in 2013. Andy Murray is to take over as coach for his old rival Novak Djokovic at the Australian Open. Here, the PA news agency looks at the seven Grand Slam finals contested by the pair. Australian Open 2011 – Djokovic Murray turned in a poor performance in Melbourne, failing at the third attempt to win a set in a Grand Slam final as Djokovic broke serve seven times and hit six aces to claim a comprehensive win 6-4 6-2 6-3. “You had an unbelievable tournament and deserved to win,” the Scot said in reference to his opponent. “I look forward to playing against you in the future.” US Open 2012 – Murray It took five sets for Murray to claim his first Grand Slam title, becoming the first British man to achieve the feat since Fred Perry in 1936. The final clocked in at four hours and 54 minutes as Murray prevailed 7-6 (10) 7-5 2-6 3-6 6-2 to end a wait of 287 tournaments in British male tennis for a victory. “I want to congratulate Andy on his first grand slam, he thoroughly deserves it,” said Djokovic. “I really tried my best. I gave it my all. It was a tremendous match.” Australian Open 2013 – Djokovic Murray was dogged by injury in Melbourne with a heavily strapped right foot and a tight hamstring as Djokovic fought back from a set down to land a third consecutive Australian Open title, 6-7 (2) 7-6 (3) 6-3 6-2. “His record here is incredible,” said Murray. ”Very few people have managed to do what he has done, a deserved champion.” Wimbledon 2013 – Murray Murray ended a 77-year wait for a British men’s victory at Wimbledon by defeating his old foe 6-4, 7-5, 6-4 in SW19, serving emphatically with nine aces and only two double faults to throw off the weight of history. The Scot had been 4-1 down in the second set as the match threatened to slip away from him and with it the chance to cement his place in tennis folklore, but having wasted three championship points he finally sealed the deal when Djokovic drove into the net with his final shot. Australian Open 2015 – Djokovic A post shared by Novak Djokovic (@djokernole) Djokovic triumphed 7-6 (5) 6-7 (4) 6-3 6-0 and after the 24 matches and five grand slam finals the pair had played against each other across nine years, the Serb had established a 16-8 overall lead and 3-2 in slam finals. “Success is being happy,” said Murray. “It’s not about winning every single tournament you play, because that isn’t possible.” Australian Open 2016 – Djokovic The Serb landed a fourth win over Murray in Australian Open finals and his 11th in 12 matches to land his 11th major title, whilst the Scot made it five consecutive final losses in Melbourne, a new record in the Open era. “I feel like I’ve been here before,” said Murray after a 6-1 7-5 7-6 (3) loss. “Congratulations Novak, six Australian Opens, an incredible feat, and incredible consistency the last year.” French Open 2016 – Djokovic This was Murray’s first final at Roland Garros but it brought a familiar conclusion as Djokovic triumphed against him for the fifth time in seven Grand Slam finals. The 3-6 6-1 6-2 6-4 success was a first win for the Serb in Paris and saw him hold all four slams simultaneously. Murray went on to win Wimbledon the following month and was voted BBC Sports Personality of the Year but, addressing Djokovic in Paris, said: “This is his day today. What he’s achieved the last 12 months is phenomenal, winning all four of the grand slams in one year is an amazing achievement.”
MAI Capital Management decreased its holdings in Innovator U.S. Equity Power Buffer ETF – April ( BATS:PAPR – Free Report ) by 85.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,906 shares of the company’s stock after selling 92,464 shares during the quarter. MAI Capital Management’s holdings in Innovator U.S. Equity Power Buffer ETF – April were worth $572,000 as of its most recent filing with the SEC. A number of other hedge funds and other institutional investors also recently bought and sold shares of PAPR. WealthShield Partners LLC increased its holdings in shares of Innovator U.S. Equity Power Buffer ETF – April by 29.5% in the 2nd quarter. WealthShield Partners LLC now owns 1,317 shares of the company’s stock valued at $46,000 after purchasing an additional 300 shares in the last quarter. BCGM Wealth Management LLC increased its holdings in Innovator U.S. Equity Power Buffer ETF – April by 3.9% in the second quarter. BCGM Wealth Management LLC now owns 11,745 shares of the company’s stock valued at $407,000 after buying an additional 436 shares in the last quarter. Straight Path Wealth Management increased its holdings in Innovator U.S. Equity Power Buffer ETF – April by 2.6% in the second quarter. Straight Path Wealth Management now owns 21,231 shares of the company’s stock valued at $736,000 after buying an additional 530 shares in the last quarter. NovaPoint Capital LLC boosted its stake in shares of Innovator U.S. Equity Power Buffer ETF – April by 1.0% during the 2nd quarter. NovaPoint Capital LLC now owns 66,461 shares of the company’s stock worth $2,304,000 after acquiring an additional 644 shares in the last quarter. Finally, Clay Northam Wealth Management LLC grew its holdings in shares of Innovator U.S. Equity Power Buffer ETF – April by 4.9% in the 2nd quarter. Clay Northam Wealth Management LLC now owns 14,015 shares of the company’s stock worth $486,000 after acquiring an additional 650 shares during the period. Innovator U.S. Equity Power Buffer ETF – April Stock Performance Shares of PAPR stock opened at $36.70 on Friday. The business’s 50-day moving average price is $36.10 and its two-hundred day moving average price is $35.09. The firm has a market capitalization of $1.05 billion, a PE ratio of 23.61 and a beta of 0.44. Innovator U.S. Equity Power Buffer ETF – April Profile The Innovator S&P 500 Power Buffer ETF – April New (PAPR) is an exchange-traded fund that is based on the S&P 500 Price Return index. The fund aims for specific buffered losses and capped gains on the S&P 500 over a specific holdings period. The actively-managed fund holds options and collateral. PAPR was launched on Apr 1, 2019 and is managed by Innovator. Featured Stories Want to see what other hedge funds are holding PAPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innovator U.S. Equity Power Buffer ETF – April ( BATS:PAPR – Free Report ). Receive News & Ratings for Innovator U.S. Equity Power Buffer ETF - April Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innovator U.S. Equity Power Buffer ETF - April and related companies with MarketBeat.com's FREE daily email newsletter .Brighton frustrated in goalless draw with Brentford
None2024 Fourth Quarter Highlights– comparisons to the prior year quarter Net earnings per diluted share of $4.06 ( $4.03 , excluding mark-to-market gains on technology investments) Net earnings of $1.1 billion New orders decreased 3% to 16,895 homes; new orders dollar value decreased 1% to $7.2 billion Backlog of 11,633 homes with a dollar value of $5.4 billion Deliveries decreased 7% to 22,206 homes Total revenues of $9.9 billion Homebuilding operating earnings of $1.5 billion Gross margin on home sales of 22.1% S,G&A expenses as a % of revenues from home sales of 7.2% Net margin on home sales of 14.9% Financial Services operating earnings of $154 million Multifamily operating loss of $0.2 million Lennar Other operating earnings of $0.5 million Homebuilding cash and cash equivalents of $4.7 billion Years supply of owned homesites of 1.1 years and controlled homesites of 82% No outstanding borrowings under the Company's $2.9 billion revolving credit facility Homebuilding debt to total capital of 7.5% Repurchased 3 million shares of Lennar common stock for $521 million In November 2024 , the Company entered into a definitive agreement to acquire Rausch Coleman Homes , a residential homebuilder, which is expected to close in the first quarter of 2025 2024 Fiscal Year Highlights - comparisons to prior year Net earnings per diluted share of $14.31 ( $13.86 , excluding mark-to-market gains and other one-time items, (collectively, "adjustments")) Net earnings of $3.9 billion ( $3.8 billion excluding adjustments) New orders increased 11% to 76,951 homes Deliveries increased 10% to 80,210 homes Total revenues of $35.4 billion Gross margin on home sales of 22.3%; net margin of 14.9% Redeemed/repurchased $554 million of senior notes Repurchased 13.6 million shares of Lennar common stock for $2.1 billion Homebuilding return on inventory of 29.2% MIAMI , Dec. 18, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B) , one of the nation's largest homebuilders, today reported results for its fourth quarter and fiscal year ended November 30, 2024 . Fourth quarter net earnings attributable to Lennar in 2024 were $1.1 billion , or $4.06 per diluted share, compared to $1.4 billion , or $4.82 per diluted share in the fourth quarter of 2023. Excluding mark-to-market gains on technology investments, fourth quarter net earnings attributable to Lennar in 2024 were $1.1 billion , or $4.03 per diluted share, compared to fourth quarter net earnings attributable to Lennar in 2023 of $1.5 billion , or $5.17 per diluted share, excluding mark-to-market losses on technology investments and other one-time items (collectively, "adjustments"). Net earnings attributable to Lennar for the year ended November 30, 2024 were $3.9 billion , or $14.31 per diluted share, compared to $3.9 billion , or $13.73 per diluted share for the year ended November 30, 2023 . Excluding adjustments, net earnings attributable to Lennar for the year ended November 30, 2024 were $3.8 billion , or $13.86 per diluted share, compared to $4.1 billion , or $14.25 per diluted share for the year ended November 30, 2023 . Stuart Miller , Executive Chairman and Co-Chief Executive Officer of Lennar, said, "In the course of our fourth quarter, the housing market that appeared to be improving as the Fed cut short-term interest rates, proved to be far more challenging as mortgage rates rose almost 100 basis points through the quarter. Even while demand remained strong, and the chronic supply shortage continued to drive the market, our results were driven by affordability limitations from higher interest rates." "Accordingly, in our fourth quarter, sales pace lagged expectations as interest rates climbed and our new orders fell short of expectations to 16,895 homes vs the low end of our guidance of 19,000 homes. Consistent with our strategy of matching sales pace with production, we adjusted sales price, incentives, and margin in order to re-ignite sales and actively manage inventory levels. We ended the quarter with two completed, unsold homes per community, which was within our historical range." "In the fourth quarter, earnings were $1.1 billion , or $4.06 per diluted share. We delivered 22,206 homes in the quarter and our average sales price, net of incentives, per home delivered was $430,000 in the fourth quarter, slightly down from last year. Our homebuilding gross margin in the fourth quarter was 22.1%, with SG&A expenses of 7.2%, resulting in a 14.9% net margin." "Driven by our consistent focus on cash flow, we constructively allocated capital while we continued to strengthen and fortify our balance sheet. During the quarter, we repurchased $521 million of our common stock, had no outstanding borrowings on our $2.9 billion revolving credit facility and cash of $4.7 billion , ending the quarter with homebuilding debt to total capital of 7.5%. With cash on hand exceeding our debt, and with overall liquidity of approximately $7.6 billion , our balance sheet remains extremely strong." "Against this backdrop, we continue to remain focused on our volume-based strategy of driving sales and cash flow while using margin as a shock absorber as we continue to migrate to an asset-light, land-light business model. This strategy is reflected in both the public filing of a registration statement on Form S-11 for the planned spin-off of Millrose Properties, Inc., as well as our previously announced acquisition of Rausch Coleman Homes as we focus on growing to drive affordability and fill the supply gap that is reflected in the marketplace." Jon Jaffe , Co-Chief Executive Officer and President of Lennar, said, "Operationally, our starts pace and sales pace were 4.6 homes and 4.2 homes per community in the fourth quarter, respectively, as we continue to move closer to an even flow operating model. Our cycle time was down to 138 days, or 14% lower year over year, as our production first focus has positively impacted our production times, while our inventory turn improved to 1.6 times reflecting broader efficiencies. Concurrently, the Lennar Marketing and Sales Machine continued to carefully match our sales pace to our production pace using our digital marketing and dynamic pricing models." "During the quarter, we continued the migration to our land light strategy. This was evidenced by our years supply of owned homesites improving to 1.1 years from 1.4 years last year and our controlled homesite percentage increasing to 82% from 76% year over year, resulting in a return on inventory of 29.2%." Mr. Miller concluded, "As we look ahead, we expect to deliver between 17,000 and 17,500 homes for the first quarter of 2025 and between 86,000 and 88,000 homes for the full year 2025, including the impact of the Rausch Coleman acquisition. While we remain optimistic that margins will normalize as affordability normalizes and our cost structure benefits from our volume, we expect our gross margin in the first quarter to be between 19.0% and 19.25%, and at this time, we will not guide to full year gross margin until we have a better sense of market conditions as the year unfolds." RESULTS OF OPERATIONS THREE MONTHS ENDED NOVEMBER 30, 2024 COMPARED TO THREE MONTHS ENDED NOVEMBER 30, 2023 Homebuilding Revenues from home sales decreased 9% in the fourth quarter of 2024 to $9.5 billion from $10.4 billion in the fourth quarter of 2023. Revenues were lower primarily due to a 7% decrease in the number of home deliveries and a 3% decrease in the average sales price of homes delivered. New home deliveries decreased to 22,206 homes in the fourth quarter of 2024 from 23,795 homes in the fourth quarter of 2023. The average sales price of homes delivered was $430,000 in the fourth quarter of 2024, compared to $441,000 in the fourth quarter of 2023. The decrease in average sales price of homes delivered in the fourth quarter of 2024 compared to the same period last year was primarily due to pricing to market through an increased use of incentives and product mix. Gross margins on home sales were $2.1 billion , or 22.1%, in the fourth quarter of 2024, compared to $2.5 billion, or 24.2%, in the fourth quarter of 2023. During the fourth quarter of 2024, gross margins decreased primarily because revenue per square foot decreased while land costs increased year over year, which was partially offset by a decrease in costs per square foot due to lower costs of materials as the Company continued to focus on construction cost savings. Selling, general and administrative expenses were $682 million in the fourth quarter of 2024, compared to $688 million in the fourth quarter of 2023. As a percentage of revenues from home sales, selling, general and administrative expenses increased to 7.2% in the fourth quarter of 2024, from 6.6% in the fourth quarter of 2023, primarily due to less leverage as a result of both lower volume and average sales price. Financial Services Operating earnings for the Financial Services segment were $154 million in the fourth quarter of 2024, compared to $168 million in the fourth quarter of 2023. The decrease in operating earnings was primarily due to lower profit per loan in the Company's mortgage business. Other Ancillary Businesses Operating loss for the Multifamily segment was $0.2 million in the fourth quarter of 2024, compared to operating loss of $12 million in the fourth quarter of 2023. Operating earnings for the Lennar Other segment were $0.5 million in the fourth quarter of 2024, compared to an operating loss of $125 million in the fourth quarter of 2023. The Lennar Other operating earnings for the fourth quarter of 2024 were primarily due to positive mark-to-market adjustments of $13 million on the Company's publicly traded technology investments, which was partially offset by other operating losses. The Lennar Other operating loss for the fourth quarter of 2023 was primarily due to negative mark-to-market adjustments of $36 million on the Company's publicly traded technology investments and a $65 million write-off of one of the Company's non-public technology investments. Tax Rate For the quarters ended November 30, 2024 and 2023, the Company had a tax provision of $358 million and $417 million , which resulted in an overall effective income tax rate of 24.6% and 23.4%, respectively. For both periods, the Company's effective income tax rate included state income tax expense and non-deductible executive compensation, partially offset by tax credits. The increase in the effective tax rate from the prior year for the three months ended November 30, 2024 was primarily due to additional state income tax expense. OTHER TRANSACTIONS Credit Facility In November 2024 , the Company amended and restated the credit agreement governing its unsecured revolving credit facility (the "Credit Facility") to, among other things, increase the lenders' commitments to $2.875 billion until May 2027 when this amount will be reduced to $2.650 billion until final maturity in November 2029 . As of November 30, 2024 , there were no outstanding borrowings under the Credit Facility. Share Repurchases During the fourth quarter of 2024, the Company repurchased 3 million shares of its common stock for $521 million at an average per share price of $173.79 . Liquidity At November 30, 2024, the Company had $4.7 billion of Homebuilding cash and cash equivalents and no outstanding borrowings under its $2.9 billion Credit Facility, thereby providing approximately $7.6 billion of available capacity. Guidance The following are the Company's expected results of its homebuilding and financial services activities: About Lennar Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States . Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LEN X drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com . Note Regarding Forward-Looking Statements: Some of the statements in this press release are "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the homebuilding market and other markets in which we participate, as well as our expected results and guidance. You can identify forward-looking statements by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties inherent in our business that could cause actual results and events to differ materially from those anticipated by the forward-looking statements. We wish to caution readers not to place undue reliance on any forward-looking statements, which are expressly qualified in their entirety by this cautionary statement and speak only as of the date made. Important factors that could cause differences between anticipated and actual results include slowdowns in real estate markets in regions where we have significant Homebuilding or Multifamily development activities; decreased demand for our homes, or for Multifamily rental apartments or single family homes; the potential impact of inflation; the impact of increased cost of mortgage financing for homebuyers, increased or continued high interest rates or increased competition in the mortgage industry; supply shortages and increased costs related to construction materials, including lumber, and labor; the possibility that increased tariffs will increase the cost of production materials; cost increases related to real estate taxes and insurance; the effect of increased interest rates with regard to our funds' borrowings on the willingness of the funds to invest in new projects; reductions in the market value of our investments in public companies; natural disasters or catastrophic events for which our insurance may not provide adequate coverage; our inability to successfully execute our strategies and our planned spin-off on the timelines expected or at all; a decline in the value of the land and home inventories we maintain and resulting possible future writedowns of the carrying value of our real estate assets; the forfeiture of deposits related to land purchase options we decide not to exercise; the effects of public health issues such as a major epidemic or pandemic that could have a negative impact on the economy and on our businesses; possible unfavorable outcomes in legal proceedings; conditions in the capital, credit and financial markets; harm to our business from information technology failures and data security breaches; changes in laws, regulations or the regulatory environment affecting our business; policy changes that may be introduced by the new administration that could affect economic conditions, tax regimes and regulatory frameworks, and the other risks and uncertainties described in our filings from time to time with the Securities and Exchange Commission, including those included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K filed on January 26, 2024 , as amended by our Annual Report on Form 10-K/A filed on April 25, 2024 , and Quarterly Reports on Form 10-Q. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. A conference call to discuss the Company's fourth quarter earnings will be held at 11:00 a.m. Eastern Time on Thursday , December 19, 2024. The call will be broadcast live on the internet and can be accessed through the Company's website at investors.lennar.com. If you are unable to participate in the conference call, the call will be archived at investors.lennar.com for 90 days. A replay of the conference call will also be available later that day by calling 203-369-0176 and entering 5723593 as the confirmation number. Contact: Ian Frazer Investor Relations Lennar Corporation (305) 485-4129 SOURCE Lennar Corporation
WEST PALM BEACH, Fla. (AP) — Canadian Prime Minister Justin Trudeau returned home Saturday after his meeting with Donald Trump without assurances the president-elect will back away from threatened tariffs on all products from the major American trading partner. Trump called the talks “productive” but signaled no retreat from a pledge that Canada says unfairly lumps it in with Mexico over the flow of drugs and migrants into the United States. After the leaders’ hastily arranged dinner Friday night at Trump's Mar-a-Lago club in Florida, Trudeau spoke of “an excellent conversation." Trump said in a Truth Social post later Saturday that they discussed “many important topics that will require both Countries to work together to address.” For issues in need of such cooperation, Trump cited fentanyl and the “Drug Crisis that has decimated so many lives as a result of Illegal Immigration," fair trade deals "that do not jeopardize American Workers” and the U.S. trade deficit with its ally to the north. Trump asserted that the prime minister had made “a commitment to work with us to end this terrible devastation” of American families from fentanyl from China reaching the United States through its neighbors. The U.S., he said, “will no longer sit idly by as our Citizens become victims to the scourge of this Drug Epidemic.” The Republican president-elect has threatened to impose a 25% tax on all products entering the U.S. from Canada and Mexico as one of his first executive orders when he takes office in January. U.S. customs agents seized 43 pounds of fentanyl at the Canadian border last fiscal year, compared with 21,100 pounds at the Mexican border. On immigration, the U.S. Border Patrol made 56,530 arrests at the Mexican border in October alone and 23,721 arrests at the Canadian border between October 2023 and September 2024 — and Canadian officials say they are ready to make new investments in border security. Trudeau called Trump after the Republican's social media posts about the tariffs last Monday and they agreed to meet, according to a official familiar with the matter who was not authorized to publicly discuss detail of the private talks. The official said other countries are calling Canadian officials to hear how about how the meeting was arranged and to ask for advice. Mexican President Claudia Sheinbaum, after speaking with Trump on the telephone, said Thursday she was confident a tariff war with Washington would be averted. At the dinner that was said to last three hours, Trump said he and Trudeau also discussed energy, trade and the Arctic. A second official cited defense, Ukraine, NATO, China, the Mideast, pipelines and the Group of Seven meeting in Canada next year as other issues that arose. Trudeau's office said in a statement that the leaders “shared a productive wide-ranging discussion” centering on “collaboration and strengthening our relationship,” adding, "As Canada’s closest friend and ally, the United States is our key partner, and we are committed to working together in the interests of Canadians and Americans.” Trump, during his first term as president, once called Trudeau “weak” and “dishonest,” but it was the prime minister who was the first G7 leader to visit Trump since the Nov. 5 election. "Tariffs are a crucial issue for Canada and a bold move was in order. Perhaps it was a risk, but a risk worth taking,” Daniel Béland, a political science professor at McGill University in Montreal. Trudeau had said before leaving from Friday that Trump was elected because he promised to bring down the cost of groceries but now was talking about adding 25% to the cost of all kinds of products, including potatoes from Prince Edward Island in Atlantic Canada. “It is important to understand that Donald Trump, when he makes statements like that, he plans on carrying them out. There’s no question about it,” Trudeau said. “Our responsibility is to point out that he would not just be harming Canadians, who work so well with the United States, but he would actually be raising prices for Americans citizens as well and hurting American industry and business,” he added. The threatened tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his first term. Trudeau noted they were able to successfully renegotiate the deal, which he calls a “win win” for both countries. When Trump imposed higher tariffs as president, other countries responded with retaliatory tariffs of their own. Canada, for instance, announced billions of new duties in 2018 against the U.S. in a response to new taxes on Canadian steel and aluminum. Canada is the top export destination for 36 U.S. states. Nearly $3.6 billion Canadian (US $2.7 billion) worth of goods and services cross the border each day. About 60% of U.S. crude oil imports are from Canada, and 85% of U.S. electricity imports are from Canada. Canada is also the largest foreign supplier of steel, aluminum and uranium to the U.S. and has 34 critical minerals and metals that the Pentagon is eager for and investing in for national security. Canada is one of the most trade-dependent countries in the world, and 77% of Canada’s exports go to the U.S. ___ Gillies reported from Toronto. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get local news delivered to your inbox!Aston Villa boss Unai Emery has set his sights on automatic qualification to the last 16 of the Champions League after a 3-2 win at RB Leipzig. Ross Barkley’s 85th-minute goal gave them victory in Germany after goals from John McGinn and Jhon Duran early in each half were cancelled out by Lois Openda and Christoph Baumgartner. That sent them up to third in the new league phase of the competition ahead of Wednesday’s games and with matches against Monaco and Celtic to come, Villa have an excellent chance of finishing in the top eight. Job done... in the end 😅 #RBLAVL #UCL pic.twitter.com/PRD1Hi1Q3A — Aston Villa (@AVFCOfficial) December 10, 2024 That would mean they would avoid a play-off round to make it through to the last 16 and Emery says that is the target. “Today was key. Juventus at home, we were thinking more to win but in the end we accepted the draw because it was important for a point to be more or less in the top 24,” he told Amazon Prime. “Today was a match we were thinking at the beginning was key to be a contender to be in the top eight with the last two matches to be played. “It is going to be difficult and we have to get some more points but we now have the possibility to achieve this option. “We are going to enjoy and try to get top eight but we have to be happy because we are in the top 24 and maybe even the top 16. “We weren’t contenders in the beginning to get there but now we have to accept it.” Leipzig, who are flying high near the top of the Bundesliga, are out after losing all six matches. They did pose a threat to Villa, who inflicted some of their own problems on themselves, notably a rare gaffe from goalkeeper Emiliano Martinez for Openda’s equaliser. But Emery was happy with his side’s performance. “I try to enjoy and always we want to improve and sometimes it is hard but today the team were performing well, playing seriously and I was enjoying it,” he added. “We tried to overcome the mistakes we made and we did. More or less we were playing consistently. One mistake and they score but then we played very well. “Champions League is very difficult and we have to expect that every team playing at home are feeling strong. We played with consistency and domination.”
Climate-threatened nations stage protest at COP29 over contentious deal
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