Cerity Partners LLC Raises Stock Holdings in TowneBank (NASDAQ:TOWN)The S&P 500 (SNPINDEX: ^GSPC) is the most universally recognized benchmark of stock market activity in the U.S., made up of the 500 largest companies in the country. Because of its broad base of constituent businesses, it is considered by most investors to be the most reliable gauge of stock market performance. The index has charged steadily higher since the start of 2023, fueled by a flurry of positive market drivers: Are You Missing The Morning Scoop? Wake up with Breakfast news in your inbox every market day. Sign Up For Free » Increasing corporate profits Improving economic conditions The advent of the artificial intelligence (AI) Interest rate cuts by the Federal Reserve Bank An uncontested election Thanks to this quintet of bullish developments, the S&P 500 is poised to generate its second consecutive year of 20%+ returns, which hasn't happened since 1998. That could signal a big move for the stock market in 2025. A robust rally After suffering through the worst economic conditions since the Great Recession, the market recovery is in full swing, and the past couple of years have been profitable ones for investors. The S&P 500 generated gains of 24% in 2023 and is up more than 26% thus far in 2024 (as of this writing). It's worth noting that the benchmark index has delivered back-to-back years of 20%+ gains just eight times since 1950. If the market's momentum holds, that could foreshadow a big move for the S&P 500 next year. We're just over two years into the current bull market, which kicked off on Oct. 12, 2022. While every bull market is different, a look at the past can help provide context. The average bull market lasts just over five years or 1,866 days. The market bottom occurred just over two years ago, which suggests there's still upside ahead. Additionally, since its trough, the S&P 500 has gained roughly 68%. That pales in comparison to the average bull market, which delivers gains of 180%. The data suggests that we're still in the early days of the current rally. There's more. Existing data suggests the current market rally will likely continue, according to Ryan Detrick, chief market strategist for financial services company Carson Group. Detrick poured over charts going back to 1950 and found just eight instances when the S&P 500 generated gains of 20% or more in successive years. In six of those, the market rally continued into the third year, generating average returns of 12%. The data is clear and suggests the market is poised to deliver better-than-expected results next year. "Bull markets last longer than you think," Detrick said, pointing to an average length of five and a half years. The historical precedent aside, there are other reasons to be bullish, namely a strong economy and increasing corporate profitability. Recent data shows that inflation has fallen to its lowest level in more than three years, highlighting a strengthening economy. "When you have an economy that continues to surprise to the upside, you tend to have solid earnings," Detrick said. He goes on to point out that the S&P 500 member companies are expected to generate earnings per share (EPS) of $269 in 2025, an increase of 19% compared to early 2023. Furthermore, Wall Street's earnings estimates continue to ratchet higher, which is generally a bullish indicator. Taken together, the historical data, the improving economy, increasing corporate profits, and bullish sentiment on Wall Street suggest the bull market will continue in 2025. To be clear, all the usual caveats apply. In the stock market, as in life, there are no guarantees . And while nothing is certain, history offers a 75% probability the market will continue to rise next year, resulting in average gains of 12%. Does that mean the investors will enjoy positive returns in 2025? No one can say for sure, but given the available evidence, the chances are good. Time will tell Simply put, nobody knows for sure where the market will end up next year, but that hasn't stopped Wall Street's best and brightest from giving it the old college try -- and their prognostications are decidedly bullish. Just this week, Deutsche Bank boosted its year-end target for the S&P 500 to 7,000, which would represent potential upside of 16% compared to the market's closing price on Tuesday. Yardeni Research is even more bullish. President Ed Yardeni expects the benchmark index to climb to 7,000 next year, 8,000 in 2026, and 10,000 by the end of the decade -- which would represent potential gains for investors of 66%. He cites increasing company earnings as paving the way for the bull market to continue: "I'm thinking that the market goes up on earnings and that earnings, which were probably about $250 a share this year, go up to $275 a share next year, and $300 a share the year after that. By the way, by the end of the decade, I think we could be at $400 per share, which times a 20 multiple or so gets us to 8,000 on the S&P 500." For those with a long-term outlook -- I include myself among those numbers -- it really doesn't matter what the S&P 500 does in the coming weeks or months. History has shown that despite the occasional downturn, the stock market has consistently gained ground over time, helping market participants reap the rewards. In fact, over the past 50 years, the stock market has returned 10% annually, on average, delivering a virtual windfall for everyday investors. The lesson here is clear. Buy stocks in the best companies you can find and let time do the heavy lifting. Don’t miss this second chance at a potentially lucrative opportunity Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this. On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $350,915 !* Apple: if you invested $1,000 when we doubled down in 2008, you’d have $44,492 !* Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $473,142 !* Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon. See 3 “Double Down” stocks » *Stock Advisor returns as of November 25, 2024 Danny Vena has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . The S&P 500 Is Poised to Do Something That's Only Happened 8 Times in 74 Years -- and It Could Signal a Big Move for the Stock Market in 2025 was originally published by The Motley Fool
Ondato releases Age Verification Report as countries trend toward stricter regulationsZURICH (AP) — Saudi Arabia scored a major win in its campaign to attract major sports events to the kingdom when it was formally appointed as the 2034 World Cup host on Wednesday. Still, many questions remain about the tournament as well as the 2030 World Cup, which will be co-hosted by Spain, Portugal and Morocco, with three games in South America. Here are some of the key issues that need to be answered over the next decade: Saudi Arabia proposes 15 stadiums — eight still on paper — in five cities: Eight in the capital Riyadh, four in the Red Sea port city Jeddah, and one each in Abha, Al Khobar and Neom, the planned futuristic mega-project. Each would have at least 40,000 seats for World Cup games. The opening game and final are set for a 92,000-seat venue planned in Riyadh. Some designs are vivid . In Neom, the stadium is planned 350 meters (yards) above street level and one near Riyadh is designed to be atop a 200-meter cliff with a retractable wall of LED screens. Saudi Arabia aims to host all 104 games, though there has been speculation that some games could be played in neighboring or nearby countries. Surely not in the traditional World Cup period of June-July, when temperatures in Saudi Arabia routinely exceed 40 Celsius (104 degrees). FIFA moved the Qatar-hosted World Cup to November-December 2022, though those dates were not loved by most European clubs and leagues whose seasons were interrupted. Also, that slot is complicated in 2034 by the holy month of Ramadan through mid-December and Riyadh hosting the multi-sport Asian Games. January 2034 could be a possibility even though that would be just before the Winter Olympics in Salt Lake City. The International Olympic Committee has signaled it won’t be opposed to back-to-back major events. In an interview with The Associated Press on Wednesday, Saudi World Cup bid official Hammad Albalawi said the precise dates of the tournament are up the world soccer body. “That’s a decision by FIFA. We stand ready to be part of this conversation. But ultimately it’s a FIFA decision together with the confederations,” Albalawi said. Giving more rights and freedoms to women in a traditionally conservative society is fundamental to Saudi messaging around the modernization program known as Vision 2030. The kingdom decided in 2017 to let women attend sports events, initially in major cities and in family zones separate from men-only sections. By 2034, at the promised pace of social reforms, female fans should not be restricted. Saudi Arabia launched a women’s professional soccer league in 2022 with players joining from clubs in Europe. They face no restrictions playing in shorts and with hair uncovered. The Saudi prohibition of alcohol is clear and understood before FIFA signs any sponsor deals for 2034. But will there be any exceptions? The alcohol issue was problematic for the World Cup in Qatar because the expectation was created that beer sales would be allowed at stadiums even before Qatar won its bid in 2010. One year later, FIFA extended a long-time deal to have Budweiser as the official World Cup beer through 2022. Qatar then backtracked on that promise three days before the first game, causing confusion and the sense of a promise broken. In Qatar, alcohol was served only at luxury suites at the stadiums. Visitors could also have a drink in some hotel bars. But Saudi Arabia has even stricter rules on alcohol — and there is no indication that will change. Albalawi noted that Saudi Arabia has successfully hosted dozens of sports events where alcohol wasn't served. “We’re creating a safe and secure family environment for fans to bring their families into our stadiums,” he said. Saudi promises to reform and enforce labor laws, and fully respect migrant workers, have been accepted by FIFA but face broad skepticism from rights groups and trade unions. A formal complaint is being investigated by the U.N.-backed International Labor Organization. Protecting the migrant workers needed to build stadiums and other tournament projects — a decade after it was a defining issue for Qatar — looms as a signature challenge for Saudi Arabia. Saudi-Israeli relations had been improving when FIFA all but gave the 2034 World Cup to the kingdom on Oct. 4 last year. Three days later Hamas attacked Israel and diplomacy got more complicated. Any soccer federation bidding to host a FIFA tournament accepts a basic principle that whichever team qualifies is welcome. That did not stop Indonesia putting up barriers last year to Israel coming for the men’s Under-20 World Cup. Indonesia does not have formal diplomatic relations with Israel which had qualified through a European tournament nine months before the issue flared. FIFA moved the entire tournament to Argentina and the Israeli team reached the semifinals. Israel played at the 1970 World Cup but has never advanced through qualifying in Europe, where it has been a member of UEFA for 30 years. Europe should have 16 places in the 48-team World Cup in Saudi Arabia. Most of the attention at the FIFA Congress on Wednesday was on the Saudi decision, but the soccer body and its members also formally approved the hosts of the 2030 World Cup — the most spread out and longest ever. One game each in Argentina, Paraguay and Uruguay, the original host in 1930, will be played from June 8-9. The tournament resumes four days later for the other 101 games shared between Spain, Portugal and Morocco. Six countries, three continents, multiple languages and currencies. Fans traveling on planes, trains, automobiles and boats across about 14 kilometers (10 miles) of water between Spain and Morocco. The final is due on July 21, 2030 and a decision on where it will be played could cause some tension between the host countries. Morocco wants it in the world’s biggest soccer venue — the planned 115,000-seat King Hassan II Stadium in Casablanca. Spain, meanwhile, has proposed to host the final in either of the remodeled home stadiums of club giants Real Madrid or Barcelona. Associated Press writer Baraa Anwer in Riyadh, Saudi Arabia, contributed to this report.Democrat Bob Casey concedes to Republican David McCormick in Pennsylvania Senate contest
Opposition fighters are closing in on Syria’s capital in a swiftly developing crisis that has taken much of the world by surprise. Syria's army has abandoned key cities in the west and south with little resistance. Nervous residents in Damascus describe security forces on the streets. The state news agency has been forced to deny rumors that President Bashar Assad has left the country. Who are these opposition fighters ? If they enter Damascus after taking two of Syria’s largest cities , what then? Here’s a look at the stunning reversal of fortune for Assad and his government in just the past 10 days, and what might lie ahead as Syria’s 13-year civil war reignites . This is the first time that opposition forces have reached the outskirts of the Syrian capital since 2018, when the country’s troops recaptured the area following a yearslong siege. The approaching fighters are led by the most powerful insurgent group in Syria, Hayat Tahrir al-Sham , or HTS, along with an umbrella group of Turkish-backed Syrian militias called the Syrian National Army. Both have been entrenched in the northwest. They launched the shock offensive on Nov. 27 with gunmen capturing Aleppo, Syria’s largest city, and the central city of Hama, the fourth largest. The HTS has its origins in al-Qaida and is considered a terrorist organization by the U.S. and the United Nations. But the group said in recent years it cut ties with al-Qaida, and experts say HTS has sought to remake itself in recent years by focusing on promoting civilian government in their territory as well as military action. HTS leader Abu Mohammed al-Golani told CNN in an exclusive interview Thursday from Syria that the aim of the offensive is to overthrow Assad’s government. The HTS and Syrian National Army have been allies at times and rivals at times, and their aims might diverge. The Turkish-backed militias also have an interest in creating a buffer zone near the Turkish border to keep away Kurdish militants at odds with Ankara. Turkey has been a main backer of the fighters seeking to overthrow Assad but more recently has urged reconciliation, and Turkish officials have strongly rejected claims of any involvement in the current offensive. Whether the HTS and the Syrian National Army will work together if they succeed in overthrowing Assad or turn on each other again is a major question. While the flash offensive against Syria’s government began in the north, armed opposition groups have also mobilized elsewhere. The southern areas of Sweida and Daraa have both been taken locally. Sweida is the heartland of Syria’s Druze religious minority and had been the site of regular anti-government protests even after Assad seemingly consolidated his control over the area. Daraa is a Sunni Muslim area that was widely seen as the cradle of the uprising against Assad’s rule that erupted in 2011. Daraa was recaptured by Syrian government troops in 2018, but rebels remained in some areas. In recent years, Daraa was in a state of uneasy quiet under a Russian-mediated ceasefire deal. And much of Syria's east is controlled by the Syrian Democratic Forces, a Kurdish-led group backed by the United States that in the past has clashed with most other armed groups in the country. Syria’s government now controls just four of 14 provincial capitals. Much depends on Assad’s next moves and his forces' will to fight. A commander with the insurgents, Hassan Abdul-Ghani, posted on the Telegram messaging app that opposition forces have started carrying out the “final stage” of their offensive by encircling Damascus. The Britain-based Syrian Observatory for Human Rights said Syrian troops have withdrawn from much of the two southern provinces and are sending reinforcements to Homs. If that city is captured, the link would be cut between Damascus, Assad’s seat of power, and the coastal region where he enjoys wide support. “Homs to the coastal cities will be a very huge red line politically and socially. Politically, if this line is crossed, then we are talking about the end of the entire Syria, the one that we knew in the past,” said a Damascus resident, Anas Joudeh. Assad appears to be largely on his own as allies Russia and Iran are distracted by other conflicts and the Lebanon-based Hezbollah has been weakened by its war with Israel, now under a fragile ceasefire. The U.N. special envoy for Syria, Geir Pedersen, is calling for urgent talks in Geneva to ensure an “orderly political transition,” saying the situation is changing by the minute. He met with foreign ministers and senior diplomats from eight key countries including Saudi Arabia, Russia, Egypt, Turkey and Iran on the sidelines of the Doha Summit. President-elect Donald Trump in his first extensive comments on the developments in Syria said the besieged Assad didn’t deserve U.S. support to stay in power. “THIS IS NOT OUR FIGHT,” Trump posted on social media.
South Korea president escapes impeachment over martial law fiascoThe AP Top 25 men’s college basketball poll is back every week throughout the season! Get the poll delivered straight to your inbox with AP Top 25 Poll Alerts. Sign up here . CHICAGO (AP) — (AP) — Des Watson led Loyola Chicago with 14 points and sealed the victory with a 3-pointer with 32 seconds remaining as the Ramblers knocked off South Florida 74-72 on Saturday. Watson shot 3 for 15 (2 for 8 from 3-point range) and 6 of 8 from the free-throw line for the Ramblers (8-0). Kymany Houinsou scored 12 points while finishing 5 of 7 from the floor and added seven rebounds and five assists. Jalen Quinn had 12 points and shot 4 of 8 from the field and 4 of 4 from the free-throw line. The Ramblers extended their winning streak to eight games. The Bulls (5-4) were led by Jayden Reid, who recorded 23 points, seven rebounds and four assists. Kasen Jennings added 13 points for South Florida. Jamille Reynolds had 12 points, 11 rebounds and four assists. Justin Moore scored six points in the first half and Loyola Chicago went into the break trailing 38-35. Watson scored a team-high nine points for Loyola Chicago in the second half, including their game-winning shot in the final minute. NEXT UP Loyola Chicago next plays Sunday against San Francisco at home, and South Florida will visit Utah State on Saturday. ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
Reps demand 100% budget increase for tobacco control fund
It was the fourth time this season they had conceded four or more and the performance showed why they have the Premier League’s worst defence. When O’Neil and the players went over to acknowledge the visiting supporters there were boos for a run of two wins in 14 league matches. “Whatever the fans think of me, there is definitely no-none working harder than me and I will continue to do so until someone tells me not to,” said O’Neil, who is under increasing pressure with his side second bottom of the table. “I go over there to see them because I appreciate every one of the Wolves fans. They have given me unbelievable support since I arrived at the football club,” he said. “We managed to produce some unbelievable stuff last season with a team that was heavily tipped by most of the nation for relegation. We managed to enjoy it together. “Now it is tough. I was happy to go over there and look them right in the face and take any criticism they want to throw at me. “I accept responsibility for my part in that. Whatever criticism they want to throw at me will not change how I feel about them. “Everyone at this football club needs to do more. We will get back to be ready to fight again on Monday (another crucial game against West Ham, whose manager Julen Lopetegui’s tenure is hanging by a thread). “I will work with everything I have. I will back myself to get the most out of the group. I understand the drive for change (but) you never know how much of a percentage of supporters it is.” Veteran Ashley Young ended Everton’s 370-minute wait for a goal with a 10th-minute free-kick, his first league goal for more than two years, and on-loan Lyon midfielder Orel Mangala blasted home his first for the club to establish a 2-0 half-time lead. Two Craig Dawson own goals secured Everton’s biggest home league win since April 2019, but manager Sean Dyche insisted their issues up front were far from sorted. He said: “It’s our fifth clean sheet in the last eight so the consistency has been there in one degree, we just haven’t been scoring goals. That’s been the hardest thing to find consistently and we haven’t solved it yet. “Goals change everything, they change opinions. That’s what football is like.” The victory was hugely important in a month in which, having been hammered 4-0 at Manchester United, they face top-six sides Liverpool, Arsenal, Chelsea, Manchester City and Nottingham Forest and undoubtedly eased some of the pressure on Dyche and his players. “I’ve told them how proud I am of them,” he added. “The challenges come thick and fast on and off the pitch and they just keep going. “It’s only a step and there are many more to go but it’s a good step and a positive step. “It’s a temporary moment in time because the next one is a big one (Saturday’s Merseyside derby).”Article content OTTAWA — The head of Canada’s diplomatic service briefed international envoys on foreign interference last month as the intense focus on the issue across the country created confusion among some diplomats about where their work might cross the line from influence into meddling. Recommended Videos David Morrison, the deputy minister of Global Affairs Canada, told The Canadian Press in an interview that there is a difference between interference and influence, the latter of which is the job of a diplomat. “The public inquiry and the coverage of it may have created some uncertainty,” he said. “Diplomats had legitimate questions as to where we draw the line in Canada, and we tried to be very clear on that.” The Liberals called a commission of inquiry into foreign interference last year following media reports and pressure from opposition parties. A final report is due by the end of January. An interim report released in May said foreign meddling by China, India, Russia or others did not affect the overall results of the 2019 and 2021 general elections. Commissioner Marie-Josee Hogue said it was possible — but not certain — that outcomes in a small number of ridings were affected by interference. In his interview on Tuesday, Morrison stressed that “Canadians can have absolute confidence in the integrity of our last two general elections.” During his testimony at the inquiry in October, Morrison mentioned he planned to brief diplomats about the matter, and he held that briefing on Nov. 21. Ahead of each of the last three federal elections, Global Affairs Canada sent what’s called a diplomatic circular, essentially a formal notice to all accredited diplomatic missions, outlining that Ottawa expects them not to endorse or finance any political parties or groups. At the Nov. 21 briefing, Morrison told foreign diplomats that they can publicly endorse or oppose a Canadian government policy, but they can’t spread disinformation to discredit a particular party or “undermine public confidence” in Canadian democracy. A slideshow shared at the briefing notes that concerns about interference since 2021 “are broader than only elections” and the “strained geopolitical context ... heightens vulnerabilities” for Canada, with its many diaspora communities. The slideshow encourages “overt engagement” with Canadians and officials, such as hosting events or taking a position on Canada’s national priorities. But it says that “clandestine influence” such as influencing a nomination race or running an online disinformation campaign is out of bounds, as is “clandestine, deceptive or threatening behaviour.” Also wrong would be “obfuscating foreign-state involvement in activities,” funding candidates directly or through in-kind contributions, and “deception meant to manipulate individuals in Canada.” Larisa Galadza, who helps run the department’s democratic resilience bureau, told foreign diplomats that more public awareness of interference makes clear that it is important to avoid even the perception of crossing the line. Her speaking notes, which Morrison provided, say that Canada is “increasing our efforts to set expectations.” “This briefing is an indication of how seriously we are taking this issue,” Galadza’s notes said. She noted that “seeking to control or unduly influence members of a diaspora community” is unacceptable, and that immigrants have the right to be vocally critical of their homeland. Her notes say diplomats can lobby an MP but cannot “convey threats or offer rewards in exchange for their support.” And all of these activities, she noted, are just as unacceptable if done through proxies. Morrison said such communication is necessary, as the international agreements governing the roles of diplomats apply everywhere but aren’t consistently understood. “There’s a wide range of opinions as to what is influence and what is interference,” he said, noting some countries see the limit of what’s acceptable as measures beyond what Canadians would tolerate. “In some national contexts, interference is taken to mean monkeying around with ballot boxes,” he said. Morrison said the session started by “acknowledging that the definitions were not agreed, but that this was our home turf, and we wanted to make certain everyone understood the rules” in Canada. “We made it very clear that, having now given fair warning, if accredited diplomats engage in the kinds of behaviour that we described as being outside of the lines, they could expect to hear from us.” Global Affairs does not monitor the behaviour of foreign diplomats in Canada, but the department’s regional teams are in frequent contact with diplomatic missions and security officials alert the department whenever they find concerning activity. Morrison said his department uses a range of approaches to have foreign states understand Canada’s perspective on acceptable activity. While a formal summons gets media attention, the department can also call in an ambassador to meet with someone ranking from Foreign Affairs Minister Melanie Joly down to a junior desk officer, based on how serious the situation is. Global Affairs Canada can expel diplomats or close embassies abroad, but it can also try making its point in an informal chat at a cocktail reception. “The essence of diplomacy is to be constantly communicating and that happens classically in diplomatic circles at social events and dinners,” he said. In February, senior diplomat Weldon Epp testified to Parliament that the Justice Department and the RCMP have undertaken workshops with the Indian government, “to explain what our standards legally would be” for extraditing people to India for terrorism charges. “How India defines extremism or even terrorism does not always compute in our legal system,” Weldon Epp told MPs at the time. Looking ahead to the next federal election, Morrison said he’s most concerned about emboldened hostile states using artificial intelligence in their attacks. He particularly worries about deepfakes, which are spoof videos and images that can dupe people into thinking politicians said or did certain things they didn’t. “The foreign interference that we have seen is continuing to evolve,” he said. “Our defences against it will need to continue to evolve as well.”US stocks surged on Wednesday, with the major averages S&P rising to all-time highs. Powell's remarks at the NYT's DealBook Summit bolstered confidence in the US economy. Investors upped their bets for another 25bp rate cut in December, per the CME FedWatch tool. US stocks ended higher on Wednesday, jumping to fresh highs as traders took in Federal Reserve Chair Jerome Powell's optimistic comments on the US economy. The S&P 500, Nasdaq Composite, and the Dow Jones Industrial Average all closed at records, with the Dow topping 45,000 for the first time ever. All eyes were on Powell in the afternoon, when the central bank chief spoke on the strength of the economy at The New York Times' DealBook Summit. "Growth is definitely stronger than we thought, and inflation is coming a little higher," Powell said at the event. "The good news is that we can afford to be a little more cautious as we try to find neutral," he added, referring to the neutral interest rate, a hypothetical level where rates neither expand nor contract the economy. Traders also took in weaker-than-expected private jobs data. Private payrolls rose just 146,000 in the last month, lower than the expected 163,000, according to ADP. Bets that the Fed will cut rates another 25 basis points at their December policy meeting also surged, with investors now pricing in a 78% chance the central bank will issue another quarter-point cut. Odds for a further 25 basis point cut in January held steady at 18%. Here's where US indexes stood at the 4:00 p.m. closing bell on Wednesday: S&P 500 : 6,086.49, up 0.61% Dow Jones Industrial Average : 45,014.04, up 0.69% (+308.51 points) Nasdaq composite : 19,735.12, up 1.30% Here's what's happening: Political turmoil is roiling global markets as investors head into 2025. There are two looming risks that could spark a serious stock market correction , Moody's chief economist says. Putin says bitcoin could be a useful asset as Russia's reserves remain frozen. Here's why BlackRock is turning even more bullish on US stocks for next year. In commodities, bonds, and crypto: West Texas Intermediate crude oil dipped 1.56% to $68.85 a barrel. Brent crude , the international benchmark, ticked higher 0.33% to $72.55 a barrel. Gold inched up 0.24% to $2,649 an ounce. The 10-year Treasury yield dipped 3 basis points to 4.186%. Bitcoin moved up 3.83% to $99,207.
HONG KONG — Crypto entrepreneur Justin Sun on Friday fulfilled a promise he made after spending $6.2 million on an artwork featuring a banana duct-taped to a wall: by eating the fruit. At one of Hong Kong's priciest hotels, Sun chomped down on a banana in front of dozens of journalists and influencers after giving a speech hailing the work as "iconic" and drew parallels between conceptual art and cryptocurrency. "It's much better than other bananas," Sun said after getting his first taste. "It's really quite good." Titled "Comedian," the conceptual work created by Italian artist Maurizio Cattelan was sold at a Sotheby's auction in New York last week, with Sun among seven bidders. Sun said he felt "disbelief" in the first 10 seconds after he won the bid, before realizing "this could become something big." In the 10 seconds after that, he decided he would eat the banana. "Eating it at a press conference can also become a part of the artwork's history," he said on Friday. The debut of the edible creation at the 2019 Art Basel show in Miami Beach sparked controversy and raised questions about whether it should be considered art — Cattelan's stated aim. And Sun on Friday compared conceptual art like "Comedian" to nonfungible token art and decentralized blockchain technology. "Most of its objects and ideas exist as (intellectual property) and on the internet, as opposed to something physical," he said. 'Apolitical' investment Sun this week also became an adviser to World Liberty Financial, a crypto initiative backed by US President-elect Donald Trump, following a $30-million investment. He earlier wrote on X that he was "excited to help make crypto great again in the US" with Trump's leadership. Sun on Friday denied that the investment — which made him the largest investor in the project — was an attempt to influence Trump or American politics. "We are apolitical," Sun told Agence France-Presse (AFP) in an interview. "Me [serving] as adviser also contribute a lot of value... I can be a great bridge for traditional financial and the (decentralized finance) industry." The 34-year-old crypto businessman was last year charged by the US Securities and Exchange Commission with fraud and securities law violation in relation to his crypto project Tron. Sun has rejected the allegations, and the case is ongoing. At a function room at the Peninsula hotel in Hong Kong, two men dressed as auction house staff stood in front of a featureless wall with the yellow banana offering the only splash of color. Sun said he only recently decided to bid for the artwork, adding he had "dumb questions" such as whether the banana had decayed and how to value the work. The artwork owner is given a certificate of authenticity that the work was created by Cattelan, as well as instructions about how to replace the fruit when it goes bad. Sun told AFP that his artwork may well benefit from the same kind of speculative craze usually associated with crypto. "I think [the price] probably is going to go up even more in the future, just like bitcoin," he said.Iceland votes for a new parliament amid disagreements on immigration, energy policy and the economyWhat happens when 'The Simpsons' join 'Monday Night Football'? Find out during Bengals-Cowboys
A Kelowna group with concerns over a holiday sign in the downtown core has apparently got their wish. Each year, the Knights of Columbus put up a nativity scene display as part of the downtown Christmas decorations. The Knights go through a permitting process to do this, according to the City of Kelowna. This year, a sign saying "Keep Christ in Christmas" was part of the display, upsetting some people in the community, including the Kelowna Atheists, Skeptics, and Humanists Association (KASHA). However, the sign has since been removed. According to the city, the sign wasn't part of the permit. It was taken down on Tuesday, Dec. 10. On Monday, Dec. 9, (KASHA) expressed in a letter that it understands the nativity scene is part of Christmas symbols like "lights, festive trees, and other decorative displays." But KASHA had concerns with the "Keep Christ in Christmas" sign. "This message is not merely festive—it is political, advocating for a specific religious interpretation of the holiday," said KASHA in its letter to Black Press Media. "It may appear inoffensive and inconsequential for the city to endorse one religion so overtly. But it is important to understand that this does impact people of other faiths, and people who have no religious beliefs. It makes them feel less Canadian." Capital News has reached out to Knights of Columbus for comment.Christian Braun is getting a crash course on what it takes to be a starter in the NBA. It’s a good problem to have for the 23-year-old who started 10 games over his first two NBA seasons. He’s been a staple in Denver’s starting lineup 22 games into the start of his third NBA season and is doing so while playing more than 35 minutes a night. Return to Grand Rapids helped Jalen Pickett increase production for Denver Nuggets | NBA Insider “Now, I’ve got to deal with – which is a blessing and I’m very fortunate – playing as many minutes as I’ve played. I need to be better with my recovery. That’s a learning process. I need to learn a new routine, a new way to play 35 minutes a night and still get better as an individual, still win games, still play winning basketball and put all of it together,” Braun said after Wednesday’s practice at Ball Arena. “I wouldn’t say it’s been a struggle, but I’m going to continue to learn.” Braun has been playing through a quad contusion. After Wednesday’s practice, he was working with the team’s training staff. Outside of the experts, Braun said he’s also been asking questions to the team’s seniormost veterans, Russell Westbrook and DeAndre Jordan, and picking up cues from Nikola Jokic, who offsets his heavy workload with a bunch of time in the training room. “I’m just trying to learn from their routines and be available every night, produce every night and do it while we’re winning,” Braun said. “It’s been a great process, and I’ve learned a lot already, but I’m going to continue to learn all year.” In his first two seasons, Braun said he could get away with skipping a cold-tub session or not using Normatec Boots, which use compression therapy to increase recovery. He’s trying to change that while also being better about getting quality sleep and improving his diet, something he’s picked up from Westbrook, a pescatarian. “I just try to pick his brain,” Braun said. “There’s some things that I can’t do right now, but there’s a lot of things I can work into my routine. There are things I’ve changed already this year. I’m going to continue to change and continue to develop.” Availability hasn’t been an issue to this point. Braun has played in 180 of a possible 186 regular season games with the Nuggets. The only games he didn’t participate in came during his rookie season. He also played 30 or more games in all three of his collegiate seasons at Kansas. “I don’t want to jinx it,” Braun said. “I haven’t missed a game in a long time, even back to college. Sometimes you have bumps and bruises and maybe you don’t feel like it that day, but you’ve got to be ready to play when it’s time to play. That’s my biggest goal – just be out there every single night, be available every single night. That’s what I owe to this team. That’s what I owe to everybody who’s believed in me.” Return to Grand Rapids helped Jalen Pickett increase production for Denver Nuggets | NBA Insider Murray partial participation After missing Denver’s back-to-back set Saturday in Washington and Sunday in Atlanta, Jamal Murray participated in parts of Wednesday’s practice, Nuggets coach Michael Malone said. “He was able to go through portions of practice today, which is great to have him out there,” Malone said. “He got some good work in yesterday in terms of treatment, player development. We’ll see how he feels from his work today. I would say for Friday night, he’s still going to be listed as questionable.” Murray's injury the last couple of games was listed as right hamstring inflammation. He was one of the last players shooting in the gym following Wednesday's practice. Nuggets vs. Hawks: 3 takeaways from Denver's much-needed bounce back in Atlanta Strawther’s surge There weren’t many positives from Saturday’s loss in Washington that ended the Wizards’ 16-game losing streak, but Julian Strawther’s performance was one of the few. The second-year guard finished second in scoring to Nikola Jokic, who dropped a career-high 56, with 18 points, one shy of matching his season-high. Strawther did so efficiently, making 7 of 13 shots from the field, including 2 of 5 from 3-point range. He was even more efficient the next night in Atlanta, scoring 13 points on six attempts. Four of those attempts came from 3-point range, and Strawther hit three of them. “It gives us a boost. It gives us a guy off the bench that you can play through and run plays for (with) his catch-and-shoot ability,” Malone said, naming Strawther as one of the team’s players who should be taking even more 3s. “He’s taking four a game at a really healthy clip. Let’s get that number up to six, six-and-a-half 3s per game, and that’s somebody other teams have to gameplan for.” The weekend games marked the second time this season Strawther scored in double figures in consecutive games. The first stretch came in early November against the Jazz and Raptors. Heading into Friday’s game against the Clippers, Strawther is averaging nine points and doing so while shooting 46.3% from the field, 40.8% from 3 and 80.6% on free throws. All three marks and significant improvements from his rookie season. Author of new Nikola Jokic book, Mike Singer, shares his story “He’s not just a 3-point shooter as we all know,” Malone said. “He can put the ball on the floor, shoot that mid-range shot, get to the rim and finish and also generate free-throw attempts. Having a scorer off the bench helps us when we take our main guys out. It helps kind of steady the ship.”
Wolves head coach Gary O’Neil insists he is happy to look fans in the face and take the criticism which comes his way after his team were jeered off after losing 4-0 to Everton at Goodison Park. It was the fourth time this season they had conceded four or more and the performance showed why they have the Premier League’s worst defence. When O’Neil and the players went over to acknowledge the visiting supporters there were boos for a run of two wins in 14 league matches. “Whatever the fans think of me, there is definitely no-none working harder than me and I will continue to do so until someone tells me not to,” said O’Neil, who is under increasing pressure with his side second bottom of the table. “I go over there to see them because I appreciate every one of the Wolves fans. They have given me unbelievable support since I arrived at the football club,” he said. “We managed to produce some unbelievable stuff last season with a team that was heavily tipped by most of the nation for relegation. We managed to enjoy it together. “Now it is tough. I was happy to go over there and look them right in the face and take any criticism they want to throw at me. “I accept responsibility for my part in that. Whatever criticism they want to throw at me will not change how I feel about them. “Everyone at this football club needs to do more. We will get back to be ready to fight again on Monday (another crucial game against West Ham, whose manager Julen Lopetegui’s tenure is hanging by a thread). “I will work with everything I have. I will back myself to get the most out of the group. I understand the drive for change (but) you never know how much of a percentage of supporters it is.” Veteran Ashley Young ended Everton’s 370-minute wait for a goal with a 10th-minute free-kick, his first league goal for more than two years, and on-loan Lyon midfielder Orel Mangala blasted home his first for the club to establish a 2-0 half-time lead. Two Craig Dawson own goals secured Everton’s biggest home league win since April 2019, but manager Sean Dyche insisted their issues up front were far from sorted. He said: “It’s our fifth clean sheet in the last eight so the consistency has been there in one degree, we just haven’t been scoring goals. That’s been the hardest thing to find consistently and we haven’t solved it yet. “Goals change everything, they change opinions. That’s what football is like.” The victory was hugely important in a month in which, having been hammered 4-0 at Manchester United, they face top-six sides Liverpool, Arsenal, Chelsea, Manchester City and Nottingham Forest and undoubtedly eased some of the pressure on Dyche and his players. “I’ve told them how proud I am of them,” he added. “The challenges come thick and fast on and off the pitch and they just keep going. “It’s only a step and there are many more to go but it’s a good step and a positive step. “It’s a temporary moment in time because the next one is a big one (Saturday’s Merseyside derby).”Chris Cenac Jr., the top center in the Class of 2025 according to the ESPN100, has committed to play for the Houston Cougars. The five-star recruit announced his decision Tuesday via the Bleacher Report's B/R App. Cenac previously said he wouldn't make his decision until the spring, but his stock soared over the summer after his impressive play on the Puma Pro 16 circuit with Dallas-based YGC, vaulting him into the national top-10 rankings. The 6-foot-10 New Orleans native was reportedly choosing between LSU, Auburn, Arkansas, Baylor, Kentucky, Tennessee and others before making the decision to join Cougars coach Kelvin Sampson's team. "I just like the coaching staff a lot, I like their plan to develop me and I like coming into a winning program," Cenac told 247Sports. "I'm looking forward to producing and just helping them win more. But the main thing was development and them being able to get me better so I can be ready for that next level." Cenac's rating of .9978 by 247Sports Composite makes him the Cougars' highest-rated commit in the modern era, according to multiple outlets. "They see me as a four who can kind of play all over the court and do everything," Cenac told 247Sports. "I can get rebounds, push the ball, shoot and play all over the floor." With Cenac joining other Houston commits like five-star shooting guard Isaiah Harwell, four-star point guard Kingston Flemings and three-star wing Bryce Jackson, Houston's Class of 2025 is ranked No. 2 in the nation by 247Sports and ESPN. --Field Level Media
In December 2022, Missoula-based grizzly bear biologist Mike Bader said the proposed Clark Fork Face Project — a mix of logging, timber and vegetation thinning, and prescribed burning in the Garnet Mountains east of Missoula — was "a fat target" for a lawsuit. Bader's assessment, which he made during an interview with the Missoulian two years ago about the U.S. Bureau of Land Management project , was borne out on Tuesday, when a coalition of environmental nonprofits sued the federal government in an attempt to halt the project before work begins. An aerial view shows the location of a proposed project by the Bureau of Land Management near Clinton on Jan. 6, 2023. Houses constructed on former mining claims make the area a priority for forest thinning aimed at reducing wildfire risk, the agency says. The Center for Biological Diversity is the primary plaintiff in the lawsuit. The group is joined in the litigation by the Montana-based Alliance for the Wild Rockies — with which Bader frequently collaborates — the Native Ecosystems Council, the Council on Wildlife and Fish, and the Yellowstone to Uintas Connection. The groups sued the BLM, BLM Director Tracy Stone-Manning, BLM Montana-Dakotas State Director Sonya Germann, and BLM Missoula Field Office Manager Erin Carey. The lawsuit was filed in U.S. District Court in Missoula. The project, approved by the BLM on April 18 but originally proposed years prior, entails a variety of work on 16,689 acres of federal land managed by the BLM in the Garnet Mountains north of Interstate 90 roughly between Bonner and Drummond. The majority of the work in the project is proposed for areas in far-northern Granite County, near the Garnet Ghost Town northwest of Drummond. It involves logging with burning on 8,283 acres, further burning on 4,629 acres, a variety of thinning and fuels reduction on 3,540 acres, thinning to enhance limber pine habitat on 237 acres, and 6 miles of temporary road construction. In its planning and approval of the project, the agency stated that the work will improve forest conditions to be more resilient to wildfire — not preventing fires, but theoretically lessening their intensity and rate of spread — and will return tree spacing, age and diversity to something closer to natural norms on lands that had previously been logged and on which trees regrew densely and homogeneously. The BLM stated the project is also necessary to enhance habitat for limber pine (a close relative of the federally protected whitebark pine); to protect the forest from insect and disease outbreaks; and to provide economic benefit from logging, including "capturing the value of dead and dying timber while it remains salvageable." Plaintiffs suing the BLM paint the project as "a massive logging operation" that will harm federally protected species like grizzly bears, bull trout and Canada lynx. They argue the BLM failed to consider those impacts as well as impacts to carbon storage in forests. "The Clark Fork Face Project is yet another inexcusable example of the Bureau of Land Management prioritizing industrial logging over science-backed conservation," Kristine Akland, an attorney and the Northern Rockies director for the Center for Biological Diversity, said in an announcement of the lawsuit Tuesday. "After decades of industrial exploitation, this region is just beginning to heal, with grizzly bears and other wildlife starting to return. Instead of encouraging restoration, the BLM is charging ahead with another logging project that will obliterate any chance these embattled species have at making a true recovery." Mike Garrity, executive director of Alliance for the Wild Rockies, said in the announcement, "The Garnet Range is in lynx critical habitat and in an important corridor for grizzly bears. Instead of protecting habitat for wildlife the BLM wants to destroy wildlife habitat." An aerial view shows the location of a proposed project by the Bureau of Land Management near Clinton on Jan. 6, 2023. Separately, the nonprofits sent a 60-day notice of intent to sue to the U.S. Fish and Wildlife Service, whose assessment of project impacts on federally protected species the BLM relied upon in approving the project. The groups argue the agency's analysis of the project was illegally insufficient. Carey, the Missoula Field Office manager, was not immediately available for comment Wednesday. The agency generally does not comment on active litigation. In late 2022, BLM officials maintained that the project was properly vetted. They noted that the Fish and Wildlife Service, the agency responsible for enforcing the Endangered Species Act, agreed with the BLM's analysis that the project may have only minimal impacts on grizzlies and lynx. And, they said, active management for wildfire resilience is the top priority for land in the project area. The project aligns with the U.S. Forest Service's Wildfire Adapted Missoula plan and the Montana Forest Action Plan. Plus, Congress mandated that the BLM perform active forest management, and gave the agency money to do it. It was unclear Wednesday when work on the project could begin, notwithstanding the lawsuit. "As of the date of this filing, to the best of plaintiffs’ knowledge, the BLM has not yet advertised a (timber) sale under this project," the Dec. 3 lawsuit stated. "However, the project does authorize winter logging." Reworked project The BLM originally predicted work would begin in early 2023 and last for 10–15 years. The agency held two public meetings on the project in March 2021: one in Drummond and one in Clinton. The agency advertised the meetings in advance in the Missoulian, in a public press release and on social media . A Missoulian reporter attended one of the meetings and the paper ran a story about the project at the time. But few people beyond locals near the project were aware of it until early December 2022, when the BLM released a draft environmental assessment outlining the work it intended to perform. Garrity, Bader and others decried the 10-day public comment period on the EA and accused the agency of trying to push the project through without public knowledge or involvement. They also made the same substantive critiques of the project itself that are the subject of the lawsuit filed Tuesday. A photo of BLM land shows the landscape after a "regeneration harvest," or clear-cut. This land is not part of the Clark Fork Face project, which has yet to occur. Groups including the Flathead-Lolo-Bitterroot Citizen Task Force, Friends of the Bitterroot, Western Watersheds Project, Alliance for the Wild Rockies, WildEarth Guardians and Footloose Montana submitted dozens of pages of public comments criticizing the project. In response to procedural and substantive complaints about the project, the BLM extended the December 2022 comment period from 10 days to 45 days, stretching it into January 2023. And, instead of implementing the project in early 2023, the agency reworked elements of the proposal in response to criticism. The total acreage subject to logging, thinning or burning was reduced from 19,147 acres to 16,689 acres, and the agency eliminated a proposed 16 miles of new road construction. But the project still includes 6 miles of new temporary roads, which will be abandoned after the project, and the use of 19 miles of existing roads that likely will need to be significantly rehabilitated before vehicles and other equipment can travel on them. The 19 miles of existing roads will be added to the BLM's official road system, although they will remain closed to public motorized travel. A photo from a 2014 BLM survey in the Clark Fork Face project area shows conditions in an area selected for thinning. The lawsuit alleges that the BLM failed to adequately enumerate and analyze how much road improvement it will perform and how those improvements and road usage could impact protected species. In May 2024, the groups unsuccessfully appealed the project's approval on those grounds and other concerns via the BLM's administrative process for project opponents who previously commented on the project. "The BLM summarily dismissed any potential impacts from road-related project activities to wildlife, despite inevitable increases to the volume and density of year-round motorized and non-motorized use in the planning area and the 19 miles of currently unmapped and largely unused roads that will be turned into haul routes for the project," the lawsuit stated. It is unclear whether these 19 miles of 'new system roads' were included in the project area’s already high baseline road density calculations." The lawsuit also alleges that the BLM "failed to take a 'hard look' at the climate impacts of removing hundreds of thousands of trees from the forest. The BLM characterized the impacts of logging these mature forests as 'beneficial,' ignoring years of science and agency guidance, and in doing so, failed to acknowledge or otherwise address the negative impacts related to carbon emissions caused by roadwork, burning, cutting, hauling, and processing commercial timber, including thousands of acres of mature trees." A photo from a 2014 BLM survey in the Clark Fork Face project area shows conditions in an area selected for timber harvest and prescribed burning. Joshua Murdock covers the outdoors and natural resources for the Missoulian. He previously served as editor-in-chief of The Boulder Monitor in Jefferson County, Montana, and has worked as a newspaper reporter and photographer in rural towns in Idaho and Utah. Get local news delivered to your inbox! Subscribe to our Daily Headlines newsletter. 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WESTLAKE, Ohio--(BUSINESS WIRE)--Dec 11, 2024-- Nordson Corporation (Nasdaq: NDSN) today reported results for the fiscal fourth quarter ended October 31, 2024. Sales were $744 million, a 4% increase compared to the prior year’s fourth quarter sales of $719 million. The increase in fourth quarter 2024 sales included the favorable 6% impact of acquisitions and favorable currency translation of 1%, offset by an organic sales decrease of 3%. Net income was $122 million, or earnings per diluted share of $2.12, compared to prior year’s fourth quarter net income of $128 million, or earnings per diluted share of $2.22. Adjusted net income was $160 million, an increase from prior year adjusted net income of $156 million. Fourth quarter 2024 adjusted earnings per diluted share were $2.78 compared to prior year adjusted earnings per diluted share of $2.71. EBITDA in the fourth quarter was $241 million, or 32% of sales, an increase of 4% compared to prior year EBITDA of $227 million, also at 32% of sales. Commenting on the Company’s fiscal 2024 fourth quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “I appreciate our team’s focus and commitment to our customers, which delivered results above our fourth quarter guidance expectations. Our Advanced Technology Solutions segment delivered year-over-year fourth quarter sales growth, as electronics demand continued to steadily improve at fiscal year-end. During the down electronics cycle, our ATS team holistically implemented the NBS Next growth framework, making them responsive to the needs of our customers while also delivering a strong incremental operating performance. Our industrial product lines performed well against record comparisons from prior year. I’m also pleased with the early integration of our Atrion Medical acquisition, which contributed positively to the quarter.” Fourth Quarter Segment Results Industrial Precision Solutions sales of $392 million decreased 3% compared to the prior year fourth quarter, driven by a 5% organic sales decrease, a favorable acquisition impact of 1%, and a favorable currency impact of 1%. The organic sales decrease, following record organic sales in prior year fourth quarter, was driven by our industrial coatings, polymer processing and precision agriculture product lines, partially offset by double-digit growth in nonwovens product lines. Operating profit was $126 million in the quarter, or 32% of sales, a decrease of 4% compared to the prior year operating profit. The decrease in operating profit was driven by lower sales. EBITDA in the quarter was $143 million, or 37% of sales, a 3% decrease from the prior year fourth quarter EBITDA of $148 million, which also was 37% of sales. Medical and Fluid Solutions sales of $200 million increased 19% compared to the prior year fourth quarter, driven primarily by the acquisition of Atrion, which offset an organic sales decrease of 3% and a favorable currency impact of 1%. The organic sales decrease was driven by softness in medical interventional solutions product lines, partially offset by modest growth in our medical fluid components and fluid solutions product lines. Operating profit totaled $44 million in the quarter, or 22% of sales, a decrease of 8% compared to the prior year operating profit. EBITDA in the quarter was $72 million, or 36% of sales, an increase versus the prior year fourth quarter EBITDA of $62 million, or 37% of sales. Advanced Technology Solutions sales of $152 million increased 5% compared to the prior year fourth quarter, driven by an organic sales increase of 4% and a favorable currency impact of 1%. The organic sales increase was driven by double-digit growth in select test and inspection product lines and modest growth in our electronics processing product lines. Operating profit totaled $33 million in the quarter, or 22% of sales, an increase of 6% compared to the prior year operating profit due to higher sales and improved profit margins. EBITDA in the quarter was $41 million, or 27% of sales, an increase from the prior year fourth quarter EBITDA of $35 million, or 24% of sales. Fiscal 2024 Full Year Results Sales for the fiscal year ended October 31, 2024, were a record $2.7 billion, an increase of 2% compared to the prior year. This sales growth was driven by a favorable acquisition impact of 5%, partially offset by a 3% decrease in organic volume. Net income was $467 million, or earnings per diluted share of $8.11, compared to prior year’s net income of $487 million, or earnings per diluted share of $8.46. Adjusted net income was $561 million, a decrease from prior year adjusted net income of $567 million. Adjusted earnings per diluted share were $9.73 compared to prior year adjusted earnings per diluted share of $9.85. EBITDA was $849 million, or 32% of sales, compared to prior year EBITDA of $819 million, or 31% of sales. Free cash flow for the full-year was $492 million, which was a conversion rate of 105% of net income. Reflecting on fiscal 2024, Mr. Nagarajan continued, “In 2021, we launched our Ascend strategy with the milestone of achieving $3 billion in annual sales and greater than 30% EBITDA margins by 2025. The strategy is delivering results and has ample runway to accelerate. Our diversified portfolio, built on our leadership in niche end markets with differentiated products, is delivering balanced results in the ever-changing macro environment. Our acquisition strategy is generating growth, and I am pleased with the integration and deployment of the NBS Next growth framework. We also continued to generate strong free cash flow in the year, allowing us to consistently reinvest in the business while returning cash to our shareholders.” Outlook Following four consecutive years of record-setting performance, we enter fiscal 2025 with approximately $580 million in backlog. Based on the combination of order entry, backlog, current exchange rates and anticipated end market expectations, we anticipate delivering sales in the range of $2,750 to $2,870 million in fiscal 2025. Full year fiscal 2025 adjusted earnings are forecasted in the range of $9.70 to $10.50 per diluted share. First quarter fiscal 2025 sales are forecasted in the range of $615 to $655 million with adjusted earnings in the range of $1.95 to $2.15 per diluted share. Commenting on fiscal 2025 guidance, Nagarajan said, “Considering the evolving global macro-environment, we are entering 2025 with a conservative viewpoint. The fiscal first quarter is seasonally Nordson’s weakest quarter due to the holiday and calendar year-end slowdowns and cautious customer spending. While we remain confident about the long-term growth drivers of our end markets, we are being prudent about our expectations for end market recovery timing, particularly for our electronics and agricultural product lines. Even in uncertain times, our team delivers operational excellence and strong cash flow due to our close-to-the-customer business model, diversified niche end markets, differentiated products and the NBS Next growth framework.” Nordson management will provide additional commentary on these results and outlook during its previously announced webcast on Thursday, December 12, 2024 at 8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com . Information about Nordson’s investor relations and shareholder services is available from Lara Mahoney, vice president, investor relations and corporate communications at (440) 204-9985 or lara.mahoney@nordson.com . Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of these terms or comparable terminology. These statements reflect management’s current expectations and involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, U.S. and international economic conditions; financial and market conditions; currency exchange rates and devaluations; possible acquisitions, including the Company’s ability to successfully integrate acquisitions; the Company’s ability to successfully divest or dispose of businesses that are deemed not to fit with its strategic plan; the effects of changes in U.S. trade policy and trade agreements; the effects of changes in tax law; and the possible effects of events beyond our control, such as political unrest, including the conflict between Russia and Ukraine, acts of terror, natural disasters and pandemics, including the recent coronavirus (COVID-19) pandemic and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recently filed Annual Report on Form 10-K and in its Forms 10-Q filed with the Securities and Exchange Commission, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement in this press release. Nordson Corporation is an innovative precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serves global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in over 35 countries. Visit Nordson on the web at www.nordson.com , linkedin/Nordson , or www.facebook.com/nordson . View source version on businesswire.com : https://www.businesswire.com/news/home/20241211087016/en/ CONTACT: Lara Mahoney Vice President, Investor Relations & Corporate Communications 440.204.9985 Lara.Mahoney@nordson.com KEYWORD: OHIO UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: ELECTRONIC DESIGN AUTOMATION PACKAGING ENGINEERING SEMICONDUCTOR TECHNOLOGY MANUFACTURING OTHER MANUFACTURING SOURCE: Nordson Corporation Copyright Business Wire 2024. PUB: 12/11/2024 04:30 PM/DISC: 12/11/2024 04:32 PM http://www.businesswire.com/news/home/20241211087016/en
