Shares of XPeng Inc. ( NYSE:XPEV – Get Free Report ) shot up 4.1% during mid-day trading on Thursday . The stock traded as high as $13.62 and last traded at $13.51. 1,752,792 shares changed hands during trading, a decline of 87% from the average session volume of 13,342,869 shares. The stock had previously closed at $12.98. Analyst Upgrades and Downgrades XPEV has been the topic of several research analyst reports. UBS Group reiterated a “sell” rating and issued a $8.80 price objective (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and upped their price target for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Citigroup decreased their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Finally, Sanford C. Bernstein upped their price target on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.69. Check Out Our Latest Stock Analysis on XPeng XPeng Trading Down 4.8 % Institutional Inflows and Outflows A number of hedge funds have recently made changes to their positions in the company. Greenleaf Trust raised its position in shares of XPeng by 16.2% in the third quarter. Greenleaf Trust now owns 16,068 shares of the company’s stock worth $196,000 after buying an additional 2,243 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of XPeng by 24.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company’s stock valued at $163,000 after acquiring an additional 2,609 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of XPeng during the 3rd quarter valued at about $45,000. Signaturefd LLC boosted its position in shares of XPeng by 19.4% during the 2nd quarter. Signaturefd LLC now owns 24,647 shares of the company’s stock valued at $181,000 after acquiring an additional 4,002 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of XPeng by 32.8% during the third quarter. Ballentine Partners LLC now owns 17,542 shares of the company’s stock worth $214,000 after purchasing an additional 4,335 shares in the last quarter. 21.09% of the stock is currently owned by hedge funds and other institutional investors. XPeng Company Profile ( Get Free Report ) XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EVs) in the People's Republic of China. It offers SUVs under the G3, G3i, and G9 names; four-door sports sedans under the P7 and P7i names; and family sedans under the P5 name. The company also provides sales contracts, super charging, maintenance, technical support, auto financing, insurance, technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services. Featured Stories Receive News & Ratings for XPeng Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XPeng and related companies with MarketBeat.com's FREE daily email newsletter .Should the U.S. increase immigration levels for highly skilled workers?Laura Loomer, an Elon Musk supporter-turned-critic, says Musk has demoted her account on Twitter/X. Musk has accused Loomer of "trolling for attention." It's a reminder: We've seen Musk run Twitter on a whim. Now that he's got an important role in politics: Will he behave the same way there? Laura Loomer has been kicked off lots of social media sites, including Twitter. After Elon Musk bought the service in 2022, he reinstated her, along with many others who had been booted by Twitter's previous management. Advertisement Now, Loomer claims, Musk's service has demoted her by stripping her account's "premium" blue-check status and other benefits. She says Musk made the move because she was criticizing his stance on immigration. You may be unaware of Loomer — described by Wikipedia as "an American far-right political activist , conspiracy theorist, and internet personality" — and/or the online rock fight about immigration and racism breaking out among different wings of Trump supporters. If so, that could mean you have a healthy relationship with the internet. Good for you. Advertisement If you'd like to know more about the latter, my colleague Hasan Chowdhury has an explainer . You could also, at your own risk, consult Twitter/X's own summary of the story. My point is, you don't need me to tell you about this. I simply want to remind you that — if Loomer's allegation is correct — this would be par for the course for Musk and his social media company. (Musk hasn't denied Loomer's charges, and has told his followers to ignore her because she's " trolling for attention ." I've asked her and Twitter/X for additional comment.) Advertisement As I've noted before, the most consistent thing about Musk's management style at Twitter is his erratic, flip-flopping, inconsistency. Sometimes it's about relatively small stuff, like wooing Don Lemon to start a talk show on Twitter, and then canceling the deal before the show ever started. Sometimes it's about really big stuff — like agreeing to pay some $44 billion for Twitter, then spending weeks in court trying not to buy it. In any case, the only way you can be surprised by stuff like this at this point is if you never paid attention. Advertisement But I do think it's still worth pointing out. Because while Musk's management style at Twitter hasn't changed, his responsibilities have changed. He's no longer just the richest person in the world, who runs important companies like Tesla and SpaceX, in addition to Twitter. Musk may now be the most powerful unelected person in America , given his importance to Donald Trump and his upcoming administration. There's his role at DOGE , for starters. And the fact that he appears to be conducting foreign policy for Trump . And that he used Twitter to temporarily tank a government funding bill this month. Advertisement We don't know how long this arrangement is going to last, and what kind of impact Musk is going to have. But we do know that for now, a man with the power to affect the way the American government operates is the same man who can change the way he runs Twitter depending on how he feels at any given moment. We shouldn't ignore that.
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Some tech industry leaders are pushing the incoming Trump administration to increase visas for highly skilled workers from other nations. Related Articles National Politics | In states that ban abortion, social safety net programs often fail families National Politics | Court rules Georgia lawmakers can subpoena Fani Willis for information related to her Trump case National Politics | New 2025 laws hit hot topics from AI in movies to rapid-fire guns National Politics | Trump has pressed for voting changes. GOP majorities in Congress will try to make that happen National Politics | Exhausted by political news? TV ratings and new poll say you’re not alone The heart of the argument is, for America to remain competitive, the country needs to expand the number of skilled visas it gives out. The previous Trump administration did not increase the skilled visa program, instead clamping down on visas for students and educated workers, increasing denial rates. Not everyone in corporate America thinks the skilled worker program is great. Former workers at IT company Cognizant recently won a federal class-action lawsuit that said the company favored Indian employees over Americans from 2013 to 2022. A Bloomberg investigation found Cognizant, and other similar outsourcing companies, mainly used its skilled work visas for lower-level positions. Workers alleged Cognizant preferred Indian workers because they could be paid less and were more willing to accept inconvenient or less-favorable assignments. Question: Should the U.S. increase immigration levels for highly skilled workers? Caroline Freund, UC San Diego School of Global Policy and Strategy YES: Innovation is our superpower and it relies on people. Sourcing talent from 8 billion people in the world instead of 330 million here makes sense. Nearly half our Fortune 500 companies were founded by immigrants or their children. Growing them also relies on expanding our skilled workforce. The cap on skilled-worker visas has hardly changed since the computer age started. With AI on the horizon, attracting and building talent is more important than ever. Kelly Cunningham, San Diego Institute for Economic Research YES: After years of openly allowing millions of undocumented entrants into the country, why is there controversy over legally increasing somewhat the number having desirable skills? Undocumented immigration significantly impacts lower skill level jobs and wages competing with domestic workers at every skill level. Why should special cases be made against those having higher skills? Could they just not walk across the border anyway, why make it more inconvenient to those with desirable skills? James Hamilton, UC San Diego YES: Knowledge and technology are key drivers of the U.S. economy. Students come from all over the world to learn at U.S. universities, and their spending contributed $50 billion to U.S. exports last year. Technological advantage is what keeps us ahead of the rest of the world. Highly skilled immigrants contribute much more in taxes than they receive in public benefits. The skills immigrants bring to America can make us all better off. Norm Miller, University of San Diego YES: According to Forbes, the majority of billion-dollar startups were founded by foreigners. I’ve interviewed dozens of data analysts and programmers from Berkeley, UCSD, USD and a few other schools and 75% of them are foreign. There simply are not enough American graduates to fill the AI and data mining related jobs now exploding in the U.S. If we wish to remain a competitive economy, we need highly skilled and bright immigrants to come here and stay. David Ely, San Diego State University YES: Being able to employ highly skilled workers from a larger pool of candidates would strengthen the competitiveness of U.S. companies by increasing their capacity to perform research and innovate. This would boost the country’s economic output. Skilled workers from other nations that cannot remain in the U.S. will find jobs working for foreign rivals. The demand for H-1B visas far exceeds the current cap of 85,000, demonstrating a need to modify this program. Phil Blair, Manpower YES: Every country needs skilled workers, at all levels, to grow its economy. We should take advantage of the opportunity these workers provide our employers who need these skills. It should be blended into our immigration policies allowing for both short and long term visas. Gary London, London Moeder Advisors YES: San Diego is a premiere example of how highly skilled workers from around the globe enrich a community and its regional economy. Of course Visa levels need to be increased. But let’s go further. Tie visas and immigration with a provision that those who are admitted and educated at a U.S. university be incentivized, or even required, to be employed in the U.S. in exchange for their admittance. Bob Rauch, R.A. Rauch & Associates NO: While attracting high-skilled immigrants can fill critical gaps in sectors like technology, health care and advanced manufacturing, increasing high-skilled immigration could displace American workers and drive down wages in certain industries. There are already many qualified American workers available for some of these jobs. We should balance the need for specialized skills with the impact on the domestic workforce. I believe we can begin to increase the number of visas after a careful review of abuse. Austin Neudecker, Weave Growth YES: We should expand skilled visas to drive innovation and economic growth. Individuals who perform high-skilled work in labor-restricted industries or graduate from respected colleges with relevant degrees should be prioritized for naturalization. We depend on immigration for GDP growth, tax revenue, research, and so much more. Despite the abhorrent rhetoric and curtailing of visas in the first term, I hope the incoming administration can be persuaded to enact positive changes to a clearly flawed system. Chris Van Gorder, Scripps Health YES: But it should be based upon need, not politics. There are several industries that have or could have skilled workforce shortages, especially if the next administration tightens immigration as promised and expected. Over the years, there have been nursing shortages that have been met partially by trained and skilled nurses from other countries. The physician shortage is expected to get worse in the years to come. So, this visa program may very well be needed. Jamie Moraga, Franklin Revere NO: While skilled immigration could boost our economy and competitiveness, the U.S. should prioritize developing our domestic workforce. Hiring foreign nationals in sensitive industries or government-related work, especially in advanced technology or defense, raises security concerns. A balanced approach could involve targeted increases in non-sensitive high-demand fields coupled with investment in domestic STEM education and training programs. This could address immediate needs while strengthening the long-term STEM capabilities of the American workforce. Not participating this week: Alan Gin, University of San DiegoHaney Hong, San Diego County Taxpayers AssociationRay Major, economist Have an idea for an Econometer question? Email me at phillip.molnar@sduniontribune.com . Follow me on Threads: @phillip020Anthem Blue Cross Blue Shield makes major U-turn following the killing of UnitedHealthcare CEO Brian Thompson
‘An act of hate’: Counter-terrorism police to investigate synagogue firebombingCharles attended the show at the Royal Albert Hall in London for the first time as patron of the Royal Variety charity, following in the footsteps of his mother, the late Queen Elizabeth II. In a statement from Buckingham Palace, he said: “The charity’s crucial work in assisting those who have fallen ill, had an accident or hit hard times is as essential now as it ever has been. “I would like to thank all of those who have worked so hard to stage this year’s production and wish everyone a very enjoyable evening.” The performance saw political comic Forde reference the unfounded claims Mr Trump repeated during his presidential debate against Democrat candidate Kamala Harris earlier this year, that illegal immigrants from Haiti were eating locals’ pets in the small Ohio city of Springfield. Forde exclaimed in the president-elect’s voice: “They’re eating the cats, they’re eating the dogs!” He then turned to address Charles from the stage, saying in Mr Trump’s voice: “Your Majesty King Charles, you’re named after a spaniel – be very careful, they’ll eat you alive.” The King was seen laughing in response to the joke from the royal box. Charles appeared at the event without the Queen, who insisted the “show must go on” after pulling out of attending the performance on Friday evening as doctors advised that she should prioritise rest. A Buckingham Palace spokesperson said: “Following a recent chest infection, the Queen continues to experience some lingering post-viral symptoms, as a result of which doctors have advised that, after a busy week of engagements, Her Majesty should prioritise sufficient rest. “With great regret, she has therefore withdrawn from attendance at tonight’s Royal Variety Performance. His Majesty will attend as planned.” A royal source said the Queen was “naturally disappointed to miss the evening’s entertainments and sends her sincere apologies to all those involved, but is a great believer that ‘the show must go on'”. “She hopes to be back to full strength and regular public duties very soon,” the source added. The Royal Variety Performance will air on ITV1, ITVX, STV and STV Player in December. Money raised from the show will go to help people from the world of entertainment in need of care and assistance, with the Royal Variety Charity launching an initiative to help those with mental health issues this year.These Undervalued Digital Assets Could Offer 4000% Returns by December, Even if the Crypto Market Enters a Bearish Phase – Invest $600 Now
NASHVILLE, Tenn. (AP) — The Tennessee Titans have the slimmest of playoff hopes and must win out to have any chance of keeping them alive. Figuring out who they are would be a first step in the right direction. The Titans (3-9) also must bounce back from last week's ugly loss at Washington that cost this franchise yet another chance to string together consecutive wins for the first time in more than two years. “We know that this is a big opportunity for us to develop as a team and to create and to continue developing our identity,” quarterback Will Levis said. “And so we’re going to make sure that we do our best throughout these next few weeks to do that.” The Jacksonville Jaguars (2-10) lost Trevor Lawrence for the rest of the season after the hit he took from Texans linebacker Azeez Al-Shaair in last week's 23-20 loss to Houston. Their already dim playoff hopes were extinguished Monday night when Denver won. That leaves the Jaguars playing for pride and potentially drafting No. 1 overall for the third time in five years. “It’s all about how you finish,” tight end Evan Engram said. “How we finish probably won’t erase the feeling we have of the season. But as the pride of this franchise, the pride of the team, it’s definitely worth going to finish strong and going to get some wins and fighting for that.” The Titans went into Washington with one of the NFL's stingiest defenses and wound up shredded, giving up a season-worst 267 yards rushing. Defensive coordinator Dennard Wilson said, “We can’t allow what happened last week to happen again.” Wide receiver Calvin Ridley says he's excited to see some old teammates Sunday and downplayed a question about how close Jacksonville's offer to keep him last March might've been when he chose to sign with division rival Tennessee instead. “Doesn't matter right now,” Ridley said. “I'm excited for this week. Jags come in here, play with my boys. I'm excited.” Ridley played one season with Jacksonville after the Jaguars traded for him . He had 76 catches for 1,016 yards and eight TDs last season with the Jaguars. So far this season, Ridley has 43 receptions for 679 yards and three TDs. “I just know I'm going to be ready,” Ridley said. Jacksonville has lost 16 consecutive games when tied or trailing at halftime. It’s a complete flip from the 2022 season, in which the Jaguars rallied to beat Dallas, the Las Vegas Raiders and Tennessee down the stretch to make the playoffs. The 20-16 victory against the Titans in the regular-season finale that year is the last time coach Doug Pederson’s team has come from behind to win after trailing or being tied at the break. Tennessee led 13-7 at the half in that one and was minutes from winning a third straight AFC South title . Jaguars defensive end Josh Hines-Allen needs 4 1/2 sacks to break the franchise record of 55 held by Tony Brackens. Hines-Allen has at least half a sack in four consecutive games against Tennessee, which has given up 43 sacks in 2024. “My family knows about it probably more than me,” Hines-Allen said. “My wife tells me all the time, ‘Hey, get that record. All you just need is four sacks.’ Like, you can just (get) four sacks. “I had a couple games last year where I had three, so I can’t say it’s out of the realm. But I never had four sacks; don’t know what it feels like to do that in one game. But hopefully speak it into existence.” Mac Jones will be starting at quarterback and is 0-2 with the Jaguars this season. He has one more interception (three) than touchdown passes (two) in five appearances. The Titans are looking to see if Levis can keep building on his strong play of the past month and start turning those into wins. Levis is 1-3 since returning from a strained throwing shoulder. He has seven TD passes with two interceptions for a 101.3 passer rating in his past four games. He also is completing 61.7% of his passes for 960 yards. “The cool thing right now for Will is that as we’ve corrected things, he’s corrected them,” Titans coach Brian Callahan said . “And that’s been really fun to watch as he’s made adjustments from game to game, sometimes even from in the game made an adjustment to a coverage or a read, and that part’s been good to see.” AP Pro Football Writer Mark Long in Jacksonville, Florida, contributed to this report. AP NFL: https://apnews.com/hub/nfl
Air Electrode Battery Market Dynamics by 2031, Hitachi Maxell, Volkswagen Ag, AMPTRAN motor Corporation, Sanyo Electric, BASF Global 12-05-2024 10:47 PM CET | Tourism, Cars, Traffic Press release from: STATS N DATA Air Electrode Battery Market [New York, December 2024] Air Electrode Batteries represent a transformative leap in energy storage solutions, capitalizing on the principles of air chemistry to enhance efficiency and sustainability. These batteries leverage materials that react with oxygen from the surrounding environment, leading to a lighter, more energy-dense system compared to traditional battery technologies. With rising global energy demands and an increasing shift toward clean energy sources, Air Electrode Batteries are poised to play a critical role in industries ranging from electric vehicles to renewable energy systems. 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It also covers economic factors like GDP growth, inflation, and employment trends, enabling companies to develop strategies that adapt to regulatory and economic changes. In summary, STATS N DATA's Global Air Electrode Battery Market Report provides essential insights on trends, competition, and growth opportunities, helping businesses and investors make better-informed decisions for success in a competitive and evolving market. For customization requests, please visit: https://www.statsndata.org/request-customization.php?id=18108 John Jones Sales & Marketing Head | Stats N Data Phone: +1 (315) 642-4324 Email: sales@statsndata.org Website: www.statsndata.org STATS N DATA is a trusted provider of industry intelligence and market research, delivering actionable insights to businesses across diverse sectors. We specialize in helping organizations navigate complex markets with advanced analytics, detailed market segmentation, and strategic guidance. Our expertise spans industries including technology, healthcare, telecommunications, energy, food & beverages, and more. Committed to accuracy and innovation, we provide tailored reports that empower clients to make informed decisions, identify emerging opportunities, and achieve sustainable growth. Our team of skilled analysts leverages cutting-edge methodologies to ensure every report addresses the unique challenges of our clients. At STATS N DATA, we transform data into knowledge and insights into success. Partner with us to gain a competitive edge in today's fast-paced business environment. For more information, visit https://www.statsndata.org or contact us today at sales@statsndata.org This release was published on openPR.
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SEOUL, South Korea , Dec. 23, 2024 /PRNewswire/ -- Spaid, an emerging leader in the Geospatial AI sector, will attend CES early next year, 2025, to unveil the foundational solutions behind its CES 2025 Innovation Award-winning "AI2RE: Image to 3D Geospatial AI Metaverse" and showcase a demo of the "OpenAI-Integrated Geospatial Information Platform," which is scheduled for release in 2025. AI Technology to Overcome Initial Accessibility Challenges in 3D Cadastral Mapping Using Only Aerial Imagery The award-winning "AI2RE" leverages a proprietary AI engine to extract 2D (vector) lines exclusively from aerial imagery, including satellite and drone capture. Based on these extracted vectors, this technology supports 3D models such as terrains, buildings, and roads. This technology addresses initial accessibility challenges in 3D cadastral mapping—such as data loss and compatibility issues—using only aerial imagery. Doing so contributes to providing reliable and stable 3D geospatial information to government agencies and enterprises. The technology is currently being utilized in projects related to the European Union (EU)'s Data Governance and Utilization Strategy, showcasing a remarkable improvement in cadastral mapping efficiency—from 6 months per person to just 5 days per person. Furthermore, business discussions are ongoing with South American and African countries, expanding its global reach. OpenAI-Integrated Geospatial Data Platform At CES, Spaid will unveil its first-ever OpenAI-Integrated Geospatial Data Platform. This innovative platform allows users to receive personalized geospatial data card recommendations through the OpenAI agent. By simply dragging and dropping these cards, users can intuitively visualize and analyze data in a 3D map viewer without the need for additional tools or software. Spaid is progressively advancing the digital twin transformation of the world within its geospatial data platform using a data-driven approach. This roadmap aims to create a metaverse that can be effectively utilized in real-world industries. Spaid at CES 2025 Spaid's booth will be located at LVCC South Hall 2 (35726), where visitors can experience the cutting-edge "AI2RE: Image to 3D Geospatial AI Metaverse" solutions and the innovative "OpenAI-Integrated Geospatial Data Platform (Geo Data Platform)." For the award-winning AI2RE, attendees can dive into ongoing projects that demonstrate the full workflow—object detection, 2D line extraction, and 3D model generation—with a single click. In addition, the "OpenAI-Integrated Geospatial Data Platform" will feature an interactive demo designed specifically for CES. Visitors can engage with geospatial data cards for San Francisco by simply dragging and dropping them to visualize the data in 3D, showcasing the platform's intuitive and user-friendly capabilities. Chongkul Yi, CEO of Spaid, said, "We are incredibly proud to have our 'One of a Kind' innovative AI Engine recognized by the CES Innovation Award." He added, "At CES 2025, we aim to showcase the excellence of our cutting-edge Geospatial AI solutions and the data-driven metaverse platform, accelerating our efforts to expand into the global market." About Spaid SPAID pursues being "one of a Kind." It aims to bridge the gap between the physical and digital environments by leveraging all live streaming information and data to maximize usability. We specialize in providing geospatial AI-based solutions that enable synergetic decision-making by deriving new insights through a fusion network of diverse data sources provided by public agencies and enterprises. Our solutions empower clients across industries by facilitating smart decision-making in smart city and smart factory digital twin operations, defense simulations, real estate location value analysis, building energy management, financial investment and risk management, and telecom network resource management. SPAID aims to drive transformative progress across various industries through these innovative solutions, contributing to sustainable development and fostering long-term growth. View original content to download multimedia: https://www.prnewswire.com/news-releases/spaid-winner-of-ces-innovation-awards-for-redefining-the-future-of-geospatial-with-ai-to-unveil-ai-solution-and-openai-platform-at-ces-2025-302339321.html SOURCE SpaidWith a significant depreciation of the Mexican peso, five interest rate cuts, Tesla’s announcement that its Nuevo León gigafactory project is “paused,” tensions over Mexico’s trade and investment relationship with China, multibillion-dollar investment announcements, it’s been another eventful year for business and economic news in Mexico. Foreign direct investment likely hit a record high in 2024, even as we continue to wait for the much-anticipated nearshoring boom to fully arrive. At Mexico News Daily, we’ve closely followed business and economic developments this year, reporting on a wide range of data, scores of investment announcements and events that have crimped the economy and hurt investor confidence, such as the recently enacted judicial reform . As 2024 draws to a close, here’s a look back at 10 of the biggest business and economy stories in Mexico this year. Many of the developments, events and issues outlined below had a significant impact on the economic situation in Mexico this year and, in several cases, will help shape the future the country will face in the years to come. The Mexican peso has been on a rollercoaster ride this year — one with far more downs (depreciations) than ups (appreciations). The year started off well for the peso, and by early April, it had reached 16.30 to the US dollar , its strongest position in almost nine years. Then, on the first Sunday in June, Mexico held its general elections, made Claudia Sheinbaum as the country’s first female president and voted in favor of a federal Congress dominated by the ruling Morena party and its allies. The peso — trading at 17 to the greenback just before the elections — didn’t take kindly to the results. The currency began to depreciate immediately, and by ten days after the elections had plummeted to almost 19 to the dollar due to factors that included the likelihood of Morena approving a range of constitutional reforms that former president Andrés Manuel López Obrador submitted to Congress in February. Congress has approved more than a dozen of those reforms. A range of factors had the peso trending weaker during subsequent months, including Donald Trump’s victory in the Nov. 5 presidential election in the United States. The peso flirted with a 21-to-the-dollar rate on Nov. 6 but has recovered somewhat since then. At the time of publication of this article it was trading at 20.22 to the greenback. When I sat down to plot out our “10 biggest business stories of 2023” article , I had no hesitation in including Tesla’s Mexico gigafactory announcement . Elon Musk announced in March 2023 that the electric vehicle manufacturer would build a multibillion-dollar plant near Monterrey, Nuevo León, generating excitement across the country and especially in the northern border state governed by Tesla enthusiast and Governor Samuel García. Almost two years later, one could reasonably expect that Tesla would have made significant progress with its gigafactory plans, right? Wrong. Musk said in July that the gigafactory project in Nuevo León was “paused” because of the possibility that Donald Trump would impose tariffs on vehicles made in Mexico if he won the Nov. 5 presidential election in the United States. And at that time, the Tesla CEO hadn’t yet openly cozied up to Trump, who has made several threats to impose tariffs on vehicles made in Mexico, even those manufactured by U.S. companies. Economy Minister Marcelo Ebrard said last month that he would seek a meeting with Musk to discuss Tesla’s plans for Mexico, but at the time of publication of this article, there had been no reports of such a meeting taking place. Will Tesla’s gigafactory project go ahead? Stay tuned in 2025. The nearshoring trend — the relocation of companies to Mexico to shorten their supply chains and take advantage of a range of favorable business conditions — continued to receive significant media attention in 2024. A year ago we asked this question : “Is Mexico on the verge of a nearshoring boom?” The question is equally valid today. While there are conflicting opinions, hard data indicates that Mexico can indeed expect to reap the rewards of an oncoming nearshoring boom. Foreign companies continued to make investment announcements in 2024, unveiling plans to invest around US $65 billion in projects in Mexico . That amount — based on investment announcements made in the first nine months of the year — is on top of more than $110 billion in pledged investment last year. If the majority of the announced projects actually go ahead — of which there is no certainty (see Tesla example above) — Mexico can indeed expect a nearshoring boom in coming years. MND CEO Travis Bembenek looked at some of the other key nearshoring data in a recent column before opining that “we are still in the early innings of what will be a significant nearshoring opportunity for both Mexico and North America as a whole for years to come.” Nearshoring to Mexico was a big story in 2024, but it could (or should) be an even bigger one in 2025, 2026 and beyond. As noted above, foreign companies continued to announce plans to invest in Mexico this year, suggesting that a nearshoring boom is on the horizon. Among the major companies that announced projects were: All these projects, and many others, have the potential to provide a significant boost to the Mexican economy. Final numbers won’t be in until early 2025, but all indications are that a new record for foreign direct investment (FDI) in Mexico will be set in 2024. The most recent Economy Ministry data showed that FDI exceeded US $31 billion in the first six months of the year , a 7% increase compared to the same period of 2023. The Mexican Business Council for Foreign Trade, Investment and Technology (COMCE) predicts that FDI will total $38.41 billion this year , which would represent an increase of 6.5% compared to the record high of $36.06 billion in 2023 . There is some concern that the majority of the FDI in Mexico this year has been “reinvestment of profits” by companies that already have a presence here, rather than “new investment.” But foreign investment of any kind represents confidence in Mexico, and the “new investment” percentage of overall FDI should increase in coming years, as long as a good proportion of the companies that have announced investment plans go ahead with their proposed projects. COMCE, for one, is confident that will happen, predicting that FDI will reach $39.3 billion next year before surging to $48 billion in 2026. We included this story in our selection of the biggest news and politics stories of 2024 (see here). We’re including it here as well because of the current impact China is having in Mexico via trade and investment, as well as the country’s potential impact in the future. Let’s look at trade first. An influx of Chinese imports has had a significant impact on Mexico’s consumer market, and even changed the face of the retail landscape in Mexico City’s historic center , one of the country’s most important commercial hubs. Chinese cars have also established a foothold in the Mexican market. “Mexico finds itself, quite suddenly, awash in Chinese cars. Hundreds of thousands of them,” auto-sector analyst Michael Dunner wrote in November . If demand for Chinese cars continues to grow in Mexico, Mexican consumers will buy fewer vehicles made in Mexico, which would hurt the Mexican auto sector. Chinese automakers such as BYD have plans to open plants in Mexico , and while that investment could benefit Mexico in a variety of ways, it could also generate problems in Mexico’s relationship with its North American trade partners. Two Canadian provincial leaders have expressed concerns about Chinese investment in Mexico and even advocated a termination of the USMCA due to their belief that Mexico is too open to such investment. Donald Trump doesn’t want Chinese plants setting up plants on the United States’ doorstep either. While a termination of the USMCA would appear unlikely — the three-way pact will be “reviewed” in 2026 — any deterioration in Mexico’s trade relationship with the U.S. and Canada as a result of its openness to Chinese investment would have a detrimental impact on the Mexican economy. As I wrote last month : “From Mexico’s perspective, there are some important questions to consider. Is Chinese investment a blessing, a curse or both? Should Mexico continue welcoming all Chinese companies, including automakers, in pursuit of investment-related benefits such as job creation and higher economic growth? Or should it be very selective in the Chinese investment it accepts in order to avoid upsetting its North American trade partners?” The federal government has made it clear that its priority is strengthening trade and investment relationships with its North American neighbors, but it hasn’t shut the door completely on China. However, with regard to trade with China, Mexico is now making a concerted effort to reduce reliance on Chinese goods . For the import substitution plan to succeed production in Mexico will have to increase, which would benefit the Mexican economy. Additional tariffs on imports will also likely be needed to make Mexican-made goods more competitive. Just last week, the federal government announced new tariffs on textile goods including clothes to protect the Mexican textile industry. Cheap Chinese clothes will inevitably become more expensive, potentially upsetting Mexican consumers. Despite that, look out for more tariffs on Chinese products in 2025. We also included this story in our selection of the biggest news and politics stories of 2024 (see here). We’re including it here as well given the major impact U.S. tariffs would have on the Mexican economy if they were to be imposed on Mexican exports. Gabriela Siller, director of econonomic analysis at Banco Base, said in late November that the Mexican economy would go into recession if Trump keeps his word and imposes a 25% tariff on Mexican exports to the United States. Similarly, the Associated Press reported that “the tariffs would probably plunge Mexico into an immediate recession.” Some 150,000 export sector jobs would immediately be lost, according to manufacturing association INDEX . Siller also said that if the incoming U.S. president’s tariff threat “materializes,” foreign companies will “gradually” leave Mexico. Tariffs on Mexican exports to the United States would, of course, significantly diminish Mexico’s attractiveness as a nearshoring destination and make a “nearshoring boom” less likely in coming years. Mexico’s export sector — an engine of the Mexican economy — would inevitably suffer. Earlier this month, Bloomberg reported that Japanese auto manufacturer Mazda was reconsidering its investment strategy in Mexico over uncertainty related to tariff threats made by Trump. In that respect, Mazda is certainly not alone. The Bank of Mexico’s benchmark interest rate was a record high 11.25% at the start of the year, having reached that level in March 2023 at the end of a 21-month tightening cycle aimed at combating high inflation. Now, after five interest rate cuts this year, the central bank’s key rate is 125 basis points lower at an even 10%. And Bank of Mexico Deputy Governor Jonathan Heath recently told reporters that the central bank could vote continue its easing cycle at its February 6 meeting and cut interest rates up to 50 basis points . At 4.55% in November , Mexico’s annual headline inflation is still above the Bank of Mexico’s 3% target, but the central bank has focused more on the decline in core inflation, which it has said “better reflects inflation’s trend.” The annual core inflation rate declined for a 22nd consecutive month in November to reach 3.58%. More interest rate cuts are expected in 2025 — and they would be very welcome in what is forecast to be a low-growth environment in Mexico. As is the case with FDI, economic growth data for 2024 won’t be published until early 2025, but there is no doubt that the Mexican economy slowed this year. GDP increased just 1.5% annually in the first nine months of the year compared to the same period last year, according to national statistics agency INEGI . That level of growth represents a significant slowdown compared to the 3.2% expansion of 2023 . The consensus forecast of analysts recently consulted by the Bank of Mexico is that the Mexican economy will record a growth rate of 1.6% in 2024 , and just 1.12% next year. Such low levels of growth are clearly not indicative of an economy that is booming as a result of high levels of foreign investment. The new federal government will certainly hope that growth will increase as it pursues a range of economic initiatives including a plan to develop 10 new industrial corridors spanning all 32 federal entities of Mexico . One positive despite this year’s economic slowdown is that Mexico’s job market has remained strong. The unemployment rate was 2.5% in October , just above the record low of 2.3% in March. The announcement that the United States would partner with Mexico in a new semiconductor initiative whose ultimate aim is to strengthen and grow the Mexican semiconductor industry was big news this year. The expectation is that the partnership — provided it continues during Trump’s second term — will bear fruit in the coming years. “What I see in five years is a very well-integrated [semiconductors] supply chain [in North America],” Pedro Casas Alatriste, executive vice president and CEO of the American Chamber of Commerce of Mexico, told Mexico News Daily in July . The U.S. also announced a regional semiconductor initiative in July that U.S. Secretary of State Antony Blinken said would “turbocharge” capacity in the Americas to assemble, test and package the critical electronic components. And in October the United States Embassy in Mexico and the National Chamber for the Electronic, Telecommunications and Information Technology Industry presented a joint Master Plan for the Development of the Semiconductor Industry in Mexico for 2024 to 2030. As things stand, it appears that the semiconductor industry could play a significant role in the Mexican economy in coming years. Indeed, the growth of Mexico’s semiconductor sector could become one of Mexico’s biggest economic success stories in the years ahead. By Mexico News Daily chief staff writer Peter Davies ( [email protected] )
NEWTON, Mass. & PETACH TIKVA, Israel--(BUSINESS WIRE)--Dec 5, 2024-- CyberArk (NASDAQ: CYBR) (the “Company” or “CyberArk”), a global leader in identity security, announced today that it has launched an underwritten secondary public offering (the “Offering”) by Triton Seller, LP (the “Selling Shareholder”), which is an affiliate of certain funds managed by Thoma Bravo, L.P., of 1,142,538 shares of the Company’s ordinary shares, par value NIS 0.01 per share (“Ordinary Shares”). The Selling Shareholder will receive all of the proceeds from the Offering. The Company will not receive any proceeds from the sale of the Ordinary Shares being offered by the Selling Shareholder. The last reported sale price of CyberArk’s Ordinary Shares on December 5, 2024 was $327.57 per share. BofA Securities, Inc. is acting as the underwriter and sole book-running manager. The underwriter will offer the Ordinary Shares from time to time for sale in one or more transactions on the Nasdaq, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The Offering is being made pursuant to an effective shelf registration statement on Form F-3 (including a prospectus) filed by the Company with the U.S. Securities and Exchange Commission (“SEC”) on October 22, 2024, to which this communication relates. Before you invest, you should read the prospectus in the shelf registration statement and other documents the Company has filed with the SEC for more complete information about the Company and the Offering. The Offering will be made only by means of a free writing prospectus, a prospectus and a related prospectus supplement relating to the Offering, copies of which may be obtained from BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC, 28255-0001, Attn: Prospectus Department, by email at dg.prospectus_requests@bofa.com . A copy of the free writing prospectus, the prospectus and the related prospectus supplement relating to the Offering may also be obtained free of charge by visiting EDGAR on the SEC’s website at www.sec.gov . This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. About CyberArk CyberArk (NASDAQ: CYBR) is the global leader in identity security. Centered on intelligent privilege controls, CyberArk provides the most comprehensive security offering for any identity – human or machine – across business applications, distributed workforces, hybrid cloud environments and throughout the DevOps lifecycle. The world’s leading organizations trust CyberArk to help secure their most critical assets. To learn more about CyberArk, visit https://www.cyberark.com . Cautionary Note Concerning Forward Looking Statements This release contains forward-looking statements, which express the current beliefs and expectations of the Company’s management. These statements are any statement contained herein that is not strictly historical, including, but not limited to, statements regarding the expected sale of Ordinary Shares by the Selling Shareholder in the Offering. In some cases, forward-looking statements may be identified by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential” or the negative of these terms or other similar expressions. Such statements involve a number of known and unknown risks and uncertainties that could cause the Company’s future results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating, but not limited to: risks related to the Company’s acquisition of Venafi Holdings, Inc. (“Venafi”), including impacts of the acquisition on the Company’s or Venafi’s operating results and business generally; the ability of the Company or Venafi to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom the Company or Venafi do business; risks that Venafi’s business will not be integrated successfully into the Company’s operations; risks relating to the Company’s ability to realize anticipated benefits of the combined operations after the Venafi acquisition; changes to the drivers of the Company’s growth and the Company’s ability to adapt its solutions to the information security market changes and demands, including artificial intelligence (“AI”); the Company’s ability to acquire new customers and maintain and expand the Company’s revenues from existing customers; intense competition within the information security market; real or perceived security vulnerabilities, gaps, or cybersecurity breaches of the Company, or the Company’s customers’ or partners’ systems, solutions or services; risks related to the Company’s compliance with privacy, data protection and AI laws and regulations; the Company’s ability to successfully operate its business as a subscription company and fluctuation in the quarterly results of operations; the Company’s reliance on third-party cloud providers for its operations and software-as-a-service (“SaaS”) solutions; the Company’s ability to hire, train, retain and motivate qualified personnel; the Company’s ability to effectively execute its sales and marketing strategies; the Company’s ability to find, complete, fully integrate or achieve the expected benefits of additional strategic acquisitions; the Company’s ability to maintain successful relationships with channel partners, or if the Company’s channel partners fail to perform; risks related to sales made to government entities; prolonged economic uncertainties or downturns; the Company’s history of incurring net losses, the Company’s ability to generate sufficient revenue to achieve and sustain profitability and the Company’s ability to generate cash flow from operating activities; regulatory and geopolitical risks associated with the Company’s global sales and operations; risks related to intellectual property claims; fluctuations in currency exchange rates; the ability of the Company’s products to help customers achieve and maintain compliance with government regulations or industry standards; the Company’s ability to protect its proprietary technology and intellectual property rights; risks related to using third-party software, such as open-source software; risks related to stock price volatility or activist shareholders; any failure to retain the Company’s “foreign private issuer” status or the risk that the Company may be classified, for U.S. federal income tax purposes, as a “passive foreign investment company”; changes in tax laws; the Company’s expectation to not pay dividends on the Company’s ordinary shares for the foreseeable future; risks related to the Company’s incorporation and location in Israel, including the ongoing war between Israel and Hamas and conflict in the region; and other factors discussed under the heading “Risk Factors” in the Company’s most recent annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. View source version on businesswire.com : https://www.businesswire.com/news/home/20241205281226/en/ CONTACT: Investor Relations: Srinivas Anantha, CFA CyberArk 617-558-2132 ir@cyberark.comMedia : Nick Bowman CyberArk +44 (0) 7841 673378 press@cyberark.com KEYWORD: UNITED STATES NORTH AMERICA ISRAEL MIDDLE EAST MASSACHUSETTS INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY INTERNET SECURITY SOURCE: CyberArk Copyright Business Wire 2024. PUB: 12/05/2024 04:38 PM/DISC: 12/05/2024 04:36 PM http://www.businesswire.com/news/home/20241205281226/en Copyright Business Wire 2024.