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Geof Wood, Emeritus Professor of Interna-tional Development at the University of Bath, UK, has suggested that Bangladesh's recent uprising might offer a pathway for overcoming autocratic regimes, a challenge faced by many nations worldwide. Speaking at a conference organised by the Bangladesh Institute of Development Studies (BIDS) at a Dhaka hotel yesterday, Professor Wood delivered a lecture titled "Keeping Democracy Alive in Bangladesh or Anywhere". "The world is in a period of great turbulence, with a general increase in autocratic regimes and few uprisings to challenge them," he said. "And we have to be concerned about the further prospect of such regimes in erstwhile bastions of bourgeois democracies in Europe and North America," he added. Bangladesh, he observed, might have demonstrated a potential path to avoid this fate. Reflecting on Bangladesh's post-liberation trajectory, Wood said the constitutional principles designed in the euphoria of independence 52 years ago had been "warped and thwarted" through the actions of contesting individuals. "This Bangladesh has become a case of no-one ending up where they collectively wanted to be," he said. He warned that revolutions and uprisings are often betrayed, as "normal" oligarchical behaviours re-emerge. Citing Orwell's "Animal Farm" as an analogy, he referred to the ultimate failures of the French Revolution and pointed to the Arab Spring, particularly Egypt, as examples of institutional hierarchies reasserting themselves and rebels struggling to govern effectively. Wood outlined the immense challenges in returning to and sustaining democracy, which he defined as embodying equality, opportunity, dignity, and freedom. He emphasised the need for expertise to manage an economy, banking, inflation, geopolitics, and state institutions while confronting corruption, cronyism, a politicised justice system, and others. "The link between performing these necessities of state management and the structural tendency for regimes to return to oligarchic concentration of power is the main challenge," he said. He stressed the importance of boundaries between the state and regime to prevent the latter from contaminating the former. Citing Antonio Gramsci, he argued that the hegemonic incorporation of non-state institutions, as seen in Bangladesh, must be resisted. Wood criticised the lack of vigilance and accountability in Bangladesh, which he said has led to the unchecked power of ruling parties and the contamination of state institutions. He highlighted the shared blame among the state, civil society, and political regimes for this failure, stemming from a lack of checks and balances. "Large-scale and blatant rent-seeking of the past, alongside other misuses of power, has clearly been an affront to the interests of ordinary citizens and must be condemned," he said. "This means that the justice system therefore has to be tackled and 'cleaned up' in order to be fit for purpose—for now and into the future," he said. A similar agenda applies to the civil services, local government and forces of law and order. The Election Commission itself cannot be left out of this agenda. "The Public Services Commission and Establishments Division have presided over a network of patronage via recruitment and promotions for years. Clientelism has been everywhere. Political interference has been rife," he said. To restore trust in the state, he proposed cleaning up public services and considering a truth and reconciliation commission to confront past abuses, reset careers, and establish principles to prevent future slippage. "Without such reforms, the culture of public service cannot be established," he concluded.No. 21 Creighton's Steven Ashworth doubtful for Players Era Festival opener against Aztecs
Westchester Capital Management Inc. trimmed its stake in shares of Alphabet Inc. ( NASDAQ:GOOGL – Free Report ) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,967 shares of the information services provider’s stock after selling 2,770 shares during the quarter. Alphabet comprises 4.4% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Westchester Capital Management Inc.’s holdings in Alphabet were worth $18,238,000 as of its most recent filing with the Securities and Exchange Commission. A number of other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC boosted its holdings in shares of Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after acquiring an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC lifted its position in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Capital Research Global Investors lifted its position in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Assenagon Asset Management S.A. increased its position in Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the period. Finally, Wulff Hansen & CO. increased its position in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock. Analysts Set New Price Targets A number of analysts recently weighed in on GOOGL shares. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Evercore ISI upped their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein boosted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.90. Insider Activity In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink . Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here . In the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 11.55% of the company’s stock. Alphabet Trading Down 1.7 % Shares of GOOGL opened at $164.76 on Friday. The stock’s fifty day simple moving average is $167.64 and its 200 day simple moving average is $170.36. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.02 trillion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. Alphabet ( NASDAQ:GOOGL – Get Free Report ) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year. Alphabet Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%. About Alphabet ( Free Report ) Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. Read More Five stocks we like better than Alphabet Best ESG Stocks: 11 Best Stocks for ESG Investing Tesla Investors Continue to Profit From the Trump Trade Using the MarketBeat Dividend Tax Calculator MicroStrategy’s Stock Dip vs. Coinbase’s Potential Rally What Is WallStreetBets and What Stocks Are They Targeting? Netflix Ventures Into Live Sports, Driving Stock Momentum Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. ( NASDAQ:GOOGL – Free Report ). Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter .CHARLESTON, W.Va. — Sen. Randy Smith said he had 10 grandkids waiting to hear the news about their pappy. On Sunday evening, after three hours of deliberation and two rounds of voting, he’d been nominated as the next Senate president by his Republican colleagues. He described himself, minutes after the vote, as “shocked, overwhelmed, humbled.” “I’m not your typical Senate President type ... I’ve been a blue collar working class,” said Randy, R-Tucker, a former coal miner who chairs the Senate Energy, Industry and Mining Committee. Smith’s district includes a portion of Mineral County, and he is an Oakland, Maryland, native. “I just give God all the glory ... and evidently God wanted me in this house and in this position, or I wouldn’t be here tonight.” Smith, 64, was first elected to the Senate in 2016 after serving two terms in the House of Delegates. Before politics, he spent more than two decades working as section foreman at a mine. “I think that has gave me the confidence in my leadership skills,” he said. The Senate president vote occurred in a closed-door meeting on the Senate floor, so it’s unknown which Republicans voted for Smith or how many votes he received. Ahead of the vote, the race had narrowed to Smith and two other candidates: Sen. Eric Tarr, R-Putnam and Sen. Tom Takubo, R-Kanawha. Smith said he “beat all odds” to win the race for the top position. In West Virginia, the Senate President also serves as the lieutenant governor. “I didn’t have any super PACs, no money ... I had heavy hitting lobbyist groups that were, you know, working against me. You know that they don’t want to see me there, because they know I can’t be bought,” he said. Smith hasn’t yet named committee leaders but noted that he didn’t promise his fellow GOP senators anything in order to secure the Senate president appointment. He said that, while it had been a difficult few weeks of politics leading up to the vote, he still considered Tarr and Takubo friends. “Even tonight, they were the first to congratulate me,” he said. Smith will succeed Senate President Craig Blair, R-Berkeley, who lost reelection in the May primary to Tom Willis. Blair has served as Senate president since 2021. Smith described himself as conservative and said that West Virginia’s overwhelming support of Republicans in the November election spoke for the kinds of policies they’d like to see passed in the Senate. He has his own ideas of things he’d like to see prioritized, like supporting small businesses, continuing Gov. Jim Justice’s focus on fixing roads and improving the state’s broadband infrastructure. But, Smith said Caucus priorities will guide his Senate. “All of us represent a district, and everyone will be free to vote what’s for their district or what their moral values are, and there’ll never be any repercussions from me,” he said. “It’ll be determined by the body, you know, if we have 18 votes, it’ll run, and it’ll pass. Some things I’ll vote against, because I don’t believe in it.” In 2022, Smith made national headlines after he announced legislation that would have offered vasectomies or tubal ligations to anyone convicted of a drug-related crime in exchange for shorter prison time. Republicans in the House of Delegates also had their closed-door Caucus vote on Sunday, opting to keep Roger Hanshaw in his role as House Speaker. He was unopposed. Hanshaw, R-Clay, began serving in the role in 2018 and has been in the Legislature since 2014. He is an attorney. The House and Senate GOP caucuses will present their nominees for a vote by the full chambers on Jan. 8. Newly-elected members — 14 in the House and 7 in the Senate — will be sworn in on that same day. House Democrats will keep Del. Sean Hornbuckle, D-Cabell, as Minority Leader after first electing him to the position in 2023. Hornbuckle, a financial adviser and basketball coach, has been a member of the House since 2014. There will be nine Democrats in the House in 2025, down from the current 11 following November election results. The Senate will have just two Democrats next year with Majority Leader Mike Woelfel, D-Cabell, continuing his current term. Senator-elect Joey Garcia will replace long-time lawmaker Mike Caputo, D-Marion, who is retiring.
Tweet Facebook Mail The suspect police are questioning in the slaying of UnitedHealthcare CEO Brian Thompson is an Ivy League graduate software engineer from a prominent Baltimore family who appears to have favorably reviewed the manifesto of Ted Kaczynski, known as the Unabomber, on a book website. Luigi Mangione, 26, was identified by New York police this morning as a "strong person of interest" in the shooting of Thompson last week. This is what we know about him so far. READ MORE: Suspected CEO assassin behind bars after McDonald's arrest Luigi Mangione is seen in a photo posted in 2019. (CNN) What is Luigi Mangione's background? Mangione has ties to at least three states – Hawaii, Pennsylvania, and Maryland – and has no history of arrests in New York City, police said. The suspect is the grandson of Nicholas Mangione, a prominent Baltimore real estate developer , and his wife, Mary C Mangione, a philanthropist who died last year. The Mangione family owns Lorien Health Systems, a nursing home chain in Maryland, and Luigi volunteered there in 2014, according to his LinkedIn page. Where did Luigi Mangione go to school? Mangione graduated from the prestigious Gilman School, an all-boys school that is known as one of Baltimore's toniest private schools and was the high school valedictorian in 2016. In his valedictorian speech, Mangione lauded his classmates for "coming up with new ideas and challenging the world," citing successful fundraisers and accomplishments in sports and academics. "To the class of 2016, a kind of class that only comes around once every 50 years, it's been an incredible journey and I simply can't imagine the last few years with any other group of guys," he said. READ MORE: Riot squad called in as teens run amok on island CNN has obtained footage of the gun used by the shooter who shot and killed UnitedHealthcare CEO Brian Thompson in New York. (CNN) Mangione attended the University of Pennsylvania, where he graduated in 2020 with a master's and bachelor's degree in computer science and a minor in mathematics, a university spokesperson told CNN. Mangione was a member of the Phi Kappa Psi fraternity, social media photos show. In an interview for a university blog post, Mangione talked about how he had started a video game development club. "In high school, I started playing a lot of independent games and stuff like that, but I wanted to make my own game, and so I learned how to code," Mangione said. "In my freshman and sophomore years of high school, I learned [on my own] how to program, and that's why I'm a computer science major now; that's how I got into it... I just really wanted to make games." READ MORE: Noticed the cicadas are louder this year? There's a few reasons why Police released several photos of a suspect in the shooting before Mangione's arrest. (AP) What was Luigi Mangione's job? After graduating, Mangione worked as a software engineer for the online car sales company TrueCar, according to his LinkedIn page. His most recent address was in Hawaii, NYPD officials said. Mangione is registered to vote at his family's address in Cockeysville, Maryland, a Baltimore suburb, and is registered as unaffiliated with a political party, according to the state's voter registration lookup website. He is the cousin of Maryland State Delegate Nino Mangione, a Republican, the state lawmaker's office confirmed to local media. Private security guards were blocking access to the family's house on a golf club Monday afternoon local time (Tuesday morning AEDT). The shooting was captured on camera. (AP) What was Mangione carrying when he was arrested? Police said that when officers detained Mangione, he was carrying a multipage document that expressed "ill will toward corporate America." The document stated "these parasites had it coming," and "I do apologise for any strife and trauma, but it had to be done," a police official told CNN. It also said that Mangione acted alone and that the attack was self-funded. The shooting has captivated the nation after a man gunned down Thompson on Wednesday morning outside a Midtown Manhattan hotel. Until identifying Mangione Monday afternoon, police had only released a handful of surveillance video screenshots of the man they believed was the shooter. What do we know about Luigi Mangione's digital footprint? A Goodreads profile that appears to belong to Mangione shows that earlier this year, he reported having read the 1995 antitechnology manifesto written by the Unabomber Ted Kaczynski, the infamous domestic terrorist and mathematician known for sending deadly bombs through the mail. "It's easy to quickly and thoughtless[ly] write this off as the manifesto of a lunatic, in order to avoid facing some of the uncomfortable problems it identifies. But it's simply impossible to ignore how prescient many of his predictions about modern society turned out," Mangione wrote in a review of the book in January. "He was a violent individual - rightfully imprisoned - who maimed innocent people. While these actions tend to be characterised as those of a crazy luddite, however, they are more accurately seen as those of an extreme political revolutionary." In his review, Mangione also shared thoughts someone else had shared about Kaczynski in a Reddit thread, quoting a commenter who had described his acts as "war and revolution," saying that he "had the balls to recognise that peaceful protest has gotten us absolutely nowhere" and that "'Violence never solved anything' is a statement uttered by cowards and predators." Twitter photos posted by an account appearing to belong to Luigi Mangione. (Supplied) In total, Mangione's Goodreads profile listed him as reading or wanting to read nearly 300 books, including a book about mental illness, a biography of the creator of the atomic bomb and Michael Pollan's popular book on the science of psychedelics. Also on Goodreads, he reported reading or wanting to read a number of books about coping with chronic back pain. An account on the social media platform X that appears to belong to him features a background profile photo of what looks like an X-ray image of a spine with hardware from a surgery. Posts addressed to the X account suggest that some of Mangione's friends have been trying to get in touch with him since earlier this year. In July, one user tweeted at Mangione, "I haven't heard from you in months," urging him to respond to his wedding invitation. Three months later, another user posted, "Hey, are you ok? Nobody has heard from you in months, and apparently your family is looking for you." DOWNLOAD THE 9NEWS APP : Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the Apple App Store and Google Play .BOZEMAN — For the first time in program history, the Montana State football team finished a regular season unbeaten. The No. 2-ranked Bobcats improved to 12-0 overall (8-0 in Big Sky Conference play) with a 34-11 win over No. 9 Montana (8-4, 5-3) in the 123rd Brawl of the Wild on Saturday afternoon at Bobcat Stadium. The victory gave MSU the outright Big Sky title and most likely secured a top-two seed in the FCS playoffs. Montana running back Eli Gillman is tackled by Montana State linebacker Bryce Grebe (10) and cornerback Andrew Powdrell in the 123rd Brawl of the Wild game on Saturday at Bobcat Stadium in Bozeman. It’s the first outright conference championship for the Cats since 1984. MSU is credited with a solo Big Sky title in 2011, although it initially shared it with UM before the NCAA vacated several UM wins due to extra benefits. MSU opened Saturday's game with a 14-play, 75-yard drive that Tommy Mellott capped with a 5-yard touchdown run. The home team has now scored first in six straight Brawls, and the home team has won each of the last five Cat-Griz games by at least 19 points. After both teams traded punts, UM got to MSU’s 25-yard line on a 21-yard run from Xavier Harris. The Grizzlies settled for a 47-yard field goal after an Eli Gillman run for no gain, a false start and an incomplete pass caused by pressure from McCade O’Reilly and Rylan Ortt. On the next drive, Mellott completed a 35-yard TD pass to Rohan Jones on third and 8 to put the Cats ahead 14-3 with about 10 minutes left in the first half. MSU’s Myles Sansted put MSU up 17-3 with a 27-yard field goal at the 1-minute, 40-second mark. UM turned it over on downs with 25 seconds on the clock. MSU set up a 49-yard field goal attempt five plays later, and Sansted drilled it as time expired to give the Cats a 20-3 halftime lead. It’s the longest field goal MSU has made since a 50-yarder from Blake Glessner against William & Mary in the 2022 FCS quarterfinals. Both teams opened the second half with punts. The Griz stuffed Mellott on 4th and 1 at the 5:14 mark, but they went three and out on the next drive after Sawyer Racanelli couldn’t hold onto a 28-yard pass from Logan Fife. MSU went up by 24 points on the next drive, thanks to an 88-yard run from Adam Jones. The Missoula Sentinel grad scored on a 3-yard TD run. The Cats led 27-3 going into the fourth quarter, two seasons after they held a 41-7 lead over UM in Bozeman through three quarters. The Griz scored their only TD of the game with 11:02 left. Eli Gillman scored from 1 yard out and Fife completed a two-point pass to Racanelli after a 17-yard pass to Aaron Fontes on fourth and 8. MSU took a 34-11 lead with 4:49 left on a 2-yard TD run from Adam Jones, who finished with 197 rushing yards. The Cats out-gained the Griz 420 to 234 in total yards, including 326 to 117 on the ground. This story will be updated. Victor Flores is the Montana State Bobcats beat writer for 406 MT Sports. Email him at victor.flores@406mtsports.com and follow him on Twitter/X at @VictorFlores406 Be the first to know Get local news delivered to your inbox!
SVG Summit 2024: NBA, NHL, PGA and More Talk Technology and the Future of Fandom The (December 16-17, New York City) is just five weeks away and the event’s agenda is shaping up to be an exciting one. The always-popular Day 2 on the event’s main stage will kick off with a panel discussion on . Sports leagues, teams, and federations continue to take advantage of technology to connect with fans in new ways, enhance their broadcast productions, and improve everything from player safety to instant replay operations. Join us to learn how leagues, teams, and federations are looking for out of next-generation technology. State of the Remote Production Business Day 2’s Main Stage features many more exciting conversations, including an event-opening panel discussion on the . Top executives from across the remote production industry take to the stage to discuss the current business challenges, how technology and new workflows are reshaping their services and technologies, and much more. That panel discussion will feature:GSA Capital Partners LLP decreased its position in shares of Klaviyo, Inc. ( NYSE:KVYO – Free Report ) by 56.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,815 shares of the company’s stock after selling 12,495 shares during the period. GSA Capital Partners LLP’s holdings in Klaviyo were worth $347,000 at the end of the most recent quarter. Several other hedge funds have also recently bought and sold shares of KVYO. Bank of New York Mellon Corp increased its holdings in shares of Klaviyo by 677.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock valued at $68,749,000 after acquiring an additional 2,406,973 shares during the last quarter. Glynn Capital Management LLC increased its holdings in shares of Klaviyo by 19.7% in the 2nd quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock valued at $33,944,000 after acquiring an additional 224,461 shares during the last quarter. Claro Advisors LLC increased its holdings in shares of Klaviyo by 38.7% in the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock valued at $31,860,000 after acquiring an additional 357,355 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Klaviyo by 53.6% in the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after acquiring an additional 390,849 shares during the last quarter. Finally, Mayflower Financial Advisors LLC increased its holdings in shares of Klaviyo by 181.4% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock valued at $24,233,000 after acquiring an additional 441,500 shares during the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock. Klaviyo Price Performance KVYO stock opened at $36.87 on Friday. The company has a 50 day moving average price of $36.26 and a 200 day moving average price of $29.56. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $41.00. The stock has a market capitalization of $9.94 billion, a PE ratio of -204.82 and a beta of 1.13. Wall Street Analysts Forecast Growth A number of research analysts have recently commented on the company. Piper Sandler increased their price objective on Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Needham & Company LLC raised their price target on Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group raised their price target on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus assumed coverage on Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Finally, Benchmark dropped their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00. Get Our Latest Stock Report on Klaviyo Insiders Place Their Bets In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $29.72, for a total value of $297,200.00. Following the transaction, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at $12,566,002.36. This represents a 2.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink . Also, CTO Allen Chaves sold 130,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $31.85, for a total transaction of $4,140,500.00. The disclosure for this sale can be found here . Insiders have sold 376,033 shares of company stock valued at $12,190,812 in the last three months. 53.24% of the stock is currently owned by corporate insiders. Klaviyo Company Profile ( Free Report ) Klaviyo, Inc, a technology company, provides a software-as-a-service platform in the United States, other Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers Klaviyo, a cloud-native platform for data store, segmentation engine, campaigns and flows, and messaging infrastructure. Further Reading Want to see what other hedge funds are holding KVYO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Klaviyo, Inc. ( NYSE:KVYO – Free Report ). Receive News & Ratings for Klaviyo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Klaviyo and related companies with MarketBeat.com's FREE daily email newsletter .
By TOM KRISHER, Associated Press DETROIT (AP) — For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion. On Monday, Chancellor Kathaleen St. Jude McCormick turned aside a request from Musk’s lawyers to reverse a ruling she announced in January that had thrown out the compensation plan. The judge ruled then that Musk effectively controlled Tesla’s board and had engineered the outsize pay package during sham negotiations . Lawyers for a Tesla shareholder who sued to block the pay package contended that shareholders who had voted for the 10-year plan in 2018 had been given misleading and incomplete information. In their defense, Tesla’s board members asserted that the shareholders who ratified the pay plan a second time in June had done so after receiving full disclosures, thereby curing all the problems the judge had cited in her January ruling. As a result, they argued, Musk deserved the pay package for having raised Tesla’s market value by billions of dollars. McCormick rejected that argument. In her 103-page opinion, she ruled that under Delaware law, Tesla’s lawyers had no grounds to reverse her January ruling “based on evidence they created after trial.” What will Musk and Tesla do now? On Monday night, Tesla posted on X, the social media platform owned by Musk, that the company will appeal. The appeal would be filed with the Delaware Supreme Court, the only state appellate court Tesla can pursue. Experts say a ruling would likely come in less than a year. “The ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware companies rather than their rightful owners — the shareholders,” Tesla argued. Later, on X, Musk unleashed a blistering attack on the judge, asserting that McCormick is “a radical far left activist cosplaying as a judge.” What do experts say about the case? Legal authorities generally suggest that McCormick’s ruling was sound and followed the law. Charles Elson, founding director of the Weinberg Center for Corporate Governance at the University of Delaware, said that in his view, McCormick was right to rule that after Tesla lost its case in the original trial, it created improper new evidence by asking shareholders to ratify the pay package a second time. Had she allowed such a claim, he said, it would cause a major shift in Delaware’s laws against conflicts of interest given the unusually close relationship between Musk and Tesla’s board. “Delaware protects investors — that’s what she did,” said Elson, who has followed the court for more than three decades. “Just because you’re a ‘superstar CEO’ doesn’t put you in a separate category.” Elson said he thinks investors would be reluctant to put money into Delaware companies if there were exceptions to the law for “special people.” What will the Delaware Supreme Court do? Elson said that in his opinion, the court is likely to uphold McCormick’s ruling. Can Tesla appeal to federal courts? Experts say no. Rulings on state laws are normally left to state courts. Brian Dunn, program director for the Institute of Compensation Studies at Cornell University, said it’s been his experience that Tesla has no choice but to stay in the Delaware courts for this compensation package. Tesla has moved its legal headquarters to Texas. Does that matter? The company could try to reconstitute the pay package and seek approval in Texas, where it may expect more friendlier judges. But Dunn, who has spent 40 years as an executive compensation consultant, said it’s likely that some other shareholder would challenge the award in Texas because it’s excessive compared with other CEOs’ pay plans. “If they just want to turn around and deliver him $56 billion, I can’t believe somebody wouldn’t want to litigate it,” Dunn said. “It’s an unconscionable amount of money.” Would a new pay package be even larger? Almost certainly. Tesla stock is trading at 15 times the exercise price of stock options in the current package in Delaware, Morgan Stanley analyst Adam Jonas wrote in a note to investors. Tesla’s share price has doubled in the past six months, Jonas wrote. At Monday’s closing stock price, the Musk package is now worth $101.4 billion, according to Equilar, an executive data firm. And Musk has asked for a subsequent pay package that would give him 25% of Tesla’s voting shares. Musk has said he is uncomfortable moving further into artificial intelligence with the company if he doesn’t have 25% control. He currently holds about 13% of Tesla’s outstanding shares.PSG in 'difficult' spot against heavyweights Bayern
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