(The Center Square) – American taxpayers may provide a loan of more than $7.5 billion to a joint venture involving automaker Chrysler that plans to build electric vehicle batteries in Indiana. On Monday, the U.S. Department of Energy’s Loan Program Office revealed that StarPlus Energy has received a “conditional commitment” for the multi-billion dollar loan. If approved, teh money would help the collaboration between FCA US and Samsung SDI Co. construct two lithium-ion battery plants in the Kokomo 50 miles north of Indianapolis. The loan announcement comes after the Indiana Economic Development Corp. pledged hundreds of millions of dollars in state tax credits and incentives to the project. Stellantis, FCA’s parent company, and Samsung first announced plans to build an electric vehicle battery plant in Kokomo in May 2022. Then, in October 2023, the partners announced they would construct a second plant. According to Monday’s announcement, the project is expected to create up to 3,200 construction jobs as well as 2,800 plant jobs. The batteries built in Kokomo are forecasted to power about 670,000 electric cars each year. Stellantis would purchase the batteries for the vehicles marketed in the United States. An Energy Department fact sheet indicates that the interest rate for the loan would be the “applicable U.S. Treasury rate for the term of the loan with no credit spread.” No details on the term were immediately available. “This project reinforces President Biden’s Investing in America agenda to onshore and reshore domestic manufacturing technologies,” the Energy Department’s statement said. The loan would come through the federal government’s Advanced Technology Vehicles Manufacturing Loan Program, which was first established through the Energy Independence and Security Act of 2007. It would be the second Indiana plant to receive program funds. Last month, the Biden administration announced the finalization of a $1.3 billion loan to ENTEK, which is constructing a factory in Terre Haute to make separators used in lithium-ion batteries. The Biden administration and StarPlus must still complete some requirements before the loan can be finalized. Among them, StarPlus must create a Community Benefits Plan that demonstrates how the company will work with local officials and labor groups. The battery plants are being built using workers from local trade unions. Administration officials are also expecting StarPlus to participate in the Justice40 Initiative, which calls for 40% of the benefits produced from the government’s investment to boost communities that are considered underinvested “and overburdened by pollution.”CHEYENNE – The Wyoming Game and Fish Department is seeking instream flow water rights for segments of Dry Medicine Lodge Creek and North and South Beaver creeks in Bighorn County. All segments are entirely on public lands in the Cody Region. The proposed water rights are important to maintaining populations of Yellowstone cutthroat trout in their native range. Instream flow water rights are one of the tools Game and Fish utilizes to protect fish habitat and essential river functions. The rights ensure water keeps flowing in streams for fisheries while protecting existing water users. “Water is the most important part of fish habitat. Maintaining adequate amounts of water in streams year-round is critical for maintaining and improving the long-term health of fish populations,” said Del Lobb, instream flow biologist with Game and Fish, in a news release. Game and Fish conducted instream flow investigations on the three creeks in 2011 to determine flows needed to maintain existing Yellowstone cutthroat trout populations. The proposed water rights would protect flows in eight miles of the streams. Information about the proposed instream flow segments can be viewed on the Game and Fish website . The three stream segments are within the Yellowstone cutthroat trout’s native range. Habitat changes and non-native species have restricted this species to about 25% of its native range in Wyoming. “Securing the water rights means the streams will continue to provide critical habitat for spawning, passage and year-round survival of this species,” Lobb said. “Protecting stream flows in these headwater streams will help conserve the remaining Wyoming populations of this species.” Securing instream flow water rights on these and other streams has additional benefits. “Instream flow rights also help Wyoming’s tourism industry, which largely depends on flowing streams that provide angling and boating opportunities and enhance sight-seeing, hiking, hunting and camping,” Lobb said. Game and Fish prepared three applications for the instream flow water rights. The Wyoming Water Development Office, the official applicant for the State of Wyoming, submitted the applications to the Wyoming State Engineer’s office and conducted a hydrologic feasibility study. Information about the applications can be viewed on the Wyoming Water Development Office’s website . If the water rights are approved by the State Engineer, these stream segments will add to the 123 instream flow segments already secured for fish in Wyoming. Currently 512 miles — of the more than 25,000 miles of streams with fisheries in Wyoming — have permitted or adjudicated instream flow water rights for sport fisheries and native fish conservation. Get any of our free email newsletters — news headlines, sports, arts & entertainment, state legislature, CFD news, and more.Warner Music Group Corp WMG reported downbeat fiscal fourth-quarter 2024 earnings on Thursday . GAAP EPS of 8 cents missed the analyst consensus estimate of 27 cents. Revenue grew 2.8% year-on-year to $1.63 billion, beating the analyst consensus estimate of $1.59 billion. Recorded Music revenue grew by 4.0% Y/Y at $1.34 billion in the quarter. Music Publishing revenue decreased by 1.0% Y/Y to $295 million. Digital revenue remained flat Y/Y at $1.07 billion. Adjusted OIBDA increased by 11.4% compared to the previous year, reaching $353 million, and the margin improved by 170 basis points to 21.7%, driven by strong operating performance and savings from the company's restructuring plans. “Our performance this quarter and this year demonstrated our strength and adaptability in a thriving, fast-moving market,” said Robert Kyncl, CEO, Warner Music Group. “We continue to evolve WMG, based on the principle that simplicity and focus drive higher intensity and global impact. This is enhancing our ability to attract original artists and songwriters at all stages of their careers, helping them realize their musical visions, and grow passionate, loyal fanbases.” Warner Music shares gained 2.7% to trade at $32.01 on Friday. These analysts made changes to their price targets on Warner Music following earnings announcement. Barclays analyst Kannan Venkateshwar maintained Warner Music with an Equal-Weight rating and lowered the price target from $32 to $31. JP Morgan analyst David Karnovsky maintained the stock with an Overweight and lowered the price target from $41 to $40. Guggenheim analyst Michael Morris reiterated Warner Music with a Buy and maintained a $44 price target. Considering buying WMG stock? Here’s what analysts think: Read This Next: Jim Cramer Says This Stock Is A Bitcoin Play And He Prefers To Own Bitcoin © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.big fish casino apk 。

These Analysts Cut Their Forecasts On Warner Music Following Q4 EarningsIncoming U.S. President Donald Trump’s transition team is recommending sweeping changes to cut off support for electric vehicles and charging stations and to strengthen measures blocking cars, components and battery materials from China, according to a document seen by Reuters. The recommendations, which have not been previously reported, come as the U.S. electric-vehicle transition stalls and China’s heavily subsidized EV industry continues to surge, in part because of its superior battery supply chain. On the campaign trail, Trump vowed to ease regulations on fossil-fuel cars and roll back what he called President Joe Biden’s EV mandate. The transition team also recommends imposing tariffs on all battery materials globally, a bid to boost U.S. production, and then negotiating individual exemptions with allies, the document shows. Taken together, the recommendations are a stark departure from Biden administration policy, which sought to balance encouraging a domestic battery supply chain, separate from China, with a rapid EV transition. The transition-team plan would redirect money now flowing to building charging stations and making EVs affordable into national-defense priorities, including securing China-free supplies of batteries and the critical minerals to build them. The proposals came from a Trump transition team charged with crafting a strategy for swift implementation of new automotive policies. The team also calls for eliminating the Biden administration’s $7,500 tax credit for consumer EV purchases, a plan that Reuters first reported last month. The policies could strike a blow to U.S. EV sales and production at a time when many legacy automakers, including General Motors GM.N and Hyundai 005380.KS, have recently introduced a wider array of electric offerings to the U.S. market. Jason Miller, a Trump transition senior adviser, said on Tuesday that the recommendations come from “outsiders who have no role in charting administration policy.” Cutting government EV support could also hurt sales of Elon Musk’s Tesla TSLA.O, the dominant U.S. EV seller. But Musk, who spent more than a quarter-billion dollars helping to elect Trump, has said that losing subsidies would hurt rivals more than Tesla. The transition team calls for clawing back whatever funds remain from Biden’s $7.5 billion plan to build charging stations and shifting the money to battery-minerals processing and the "national defense supply chain and critical infrastructure.” While batteries, minerals and other EV components are “critical to defense production,” electric vehicles “and charging stations are not,” the document says. The Defense Department in recent years has highlighted U.S. strategic vulnerabilities because of China’s dominance of the mining and refining of critical minerals, including graphite and lithium needed for batteries, and rare-earth metals used in both EV motors and military aircraft. A 2021 government report said the U.S. military faces “escalating power requirements” for weapons and communication equipment, among other technologies. “Assured sources of critical minerals and materials” are “critical to U.S. national security,” the report found. Trump transition spokeswoman Karoline Leavitt said voters gave Trump a mandate to deliver on campaign promises, including stopping government attacks on gas-powered cars. "When he takes office, President Trump will support the auto industry, allowing space for both gas-powered cars and electric vehicles," Leavitt said in a statement. ALLOWING MORE TAILPIPE POLLUTION Automakers globally have been shifting toward electric vehicles in part to comply with stricter government limits on climate-damaging tailpipe pollution. But the transition team recommendations would allow automakers to produce more gas-powered vehicles by rolling back emissions and fuel-economy standards championed by the Biden administration. The transition team proposes shifting those regulations back to 2019 levels, which would allow an average of about 25% more emissions per vehicle mile than the current 2025 limits and average fuel economy to be about 15% lower. The proposal also recommends blocking California from setting its own, stricter vehicle-emissions standards, which more than a dozen other states have adopted. Trump barred California from setting tougher requirements during his first term, a policy that Biden reversed. California has asked the U.S. Environmental Protection Agency for another waiver to incorporate a stronger set of requirements beginning in 2026, which would eventually require all vehicles to be electric, plug-in hybrid or hydrogen-powered by 2035. The Biden administration’s EPA has not approved California’s request. Many of the transition-team proposals appear aimed at encouraging domestic battery production, primarily for defense-related interests. Others appear aimed at protecting automakers, even those producing EVs, in the United States. The proposals include: – Instituting tariffs on “EV supply chain” imports including batteries, critical minerals and charging components. The proposal viewed by Reuters said the administration should use Section 232 tariffs, which target national security threats, to limit imports of such products. The Biden administration recently increased tariffs on Chinese imports of several mentioned in the Trump-transition document, including lithium-ion batteries, graphite and “permanent magnets” used in EV motors and military applications. Those tariffs were issued on economic rather than security grounds. – Waiving environmental reviews to speed up “federally funded EV infrastructure projects,” including battery recycling and production, charging stations and critical mineral manufacturing. – Expanding export restrictions on EV battery technology to adversarial nations. – Providing support for exports of U.S.-made EV batteries through the Export-Import Bank of the United States. – Using tariffs as a “negotiating tool” to open foreign markets to U.S. auto exports, including EVs. – Eliminating requirements that federal agencies purchase EVs. A Biden policy requires all federal acquisitions of cars and smaller trucks to be zero-emission vehicles by the end of 2027. – Ending DOD programs aimed at purchasing or developing electric military vehicles. —Reuters

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KBC Group NV now owns 1,014 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 243 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in John Bean Technologies in the third quarter valued at about $186,000. 98.92% of the stock is owned by institutional investors. Wall Street Analysts Forecast Growth A number of research firms recently commented on JBT. Jefferies Financial Group assumed coverage on shares of John Bean Technologies in a report on Thursday, December 12th. They issued a “hold” rating and a $130.00 price target on the stock. CJS Securities assumed coverage on John Bean Technologies in a research report on Thursday, December 12th. They issued an “outperform” rating and a $150.00 target price for the company. John Bean Technologies Stock Performance NYSE JBT opened at $128.38 on Friday. The firm has a market cap of $4.09 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. The company has a quick ratio of 2.00, a current ratio of 2.55 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $119.61 and its 200-day moving average is $102.85. John Bean Technologies Co. has a 12-month low of $82.64 and a 12-month high of $132.69. John Bean Technologies ( NYSE:JBT – Get Free Report ) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. John Bean Technologies had a net margin of 10.25% and a return on equity of 10.16%. The business had revenue of $453.80 million for the quarter, compared to analysts’ expectations of $442.20 million. During the same quarter in the previous year, the firm posted $1.11 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Sell-side analysts predict that John Bean Technologies Co. will post 5.21 earnings per share for the current year. John Bean Technologies Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.40 annualized dividend and a yield of 0.31%. John Bean Technologies’s dividend payout ratio is currently 7.42%. John Bean Technologies Company Profile ( Free Report ) John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market. Recommended Stories Want to see what other hedge funds are holding JBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for John Bean Technologies Co. ( NYSE:JBT – Free Report ). Receive News & Ratings for John Bean Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for John Bean Technologies and related companies with MarketBeat.com's FREE daily email newsletter .

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Four new-age tech stocks – PB Fintech, Zaggle, Zomato and CarTrade Tech – ended 2024 with gains in excess of 100% Eleven out of the 19 new-age tech stocks that listed before 2024 ended the year in the red, including Nykaa, ideaForge, Delhivery, due to lacklustre financials, sectoral headwinds, among others Meanwhile, the 13 new entrants to the bourses had a positive 2024, with most of them listing at a premium to their respective IPO price and a majority of them ending the year above listing price It was an eventful year for new-age tech companies on the IPO front, with 13 startups going public in 2024 . These companies cumulatively raised a staggering INR 29,000 Cr ($3.4 Bn). However, the going wasn’t all easy for the 19 new-age tech companies which listed on the bourses before 2024. While the shares of eight out of these 19 companies gained this year on the back of improving financials, sectoral tailwinds, and strength in the broader market, 11 ended the year in the red. Zomato emerged as a multi-bagger this year, while Paytm made a remarkable turnaround. Four stocks – PB Fintech, Zaggle, Zomato and CarTrade Tech – ended the year with gains in excess of 100%. The losers this year included Nykaa, ideaForge, Delhivery, MapmyIndia , among others, as they were impacted by varied reasons ranging from lackluster financials to sector-specific issues. Overall, the market sentiment was positive throughout the year on account of large inflows into the domestic mutual funds and strong economic activity. However, the benchmark indices saw a decline towards the end of 2024 as selloff by foreign institutional investors (FII) and the US Fed’s outlook of fewer rate cuts in 2025 triggered a slump. Notwithstanding the volatility, which is expected to persist till at least Budget 2025, listed Indian startups emerged from the shadows in 2024 and investors will keep a keen eye on them in 2025. As we near the end of the year, let’s take a look at the top gainers and losers among the listed new-age tech companies in 2024 as part of Inc42’s ‘Year In Review’ series. Now, let’s deep dive into the performance of some of the top new-age tech companies on the bourses this year. PB Fintech, the parent entity of insurtech major Policybazaar, emerged as the top gainer among the 19 new-age tech stocks which went public before 2024. Its shares surged over 170% to surpass the INR 2,000 mark from around INR 800 at the end of 2023. The upswing came on the back of the company’s profitability streak, starting from the December quarter (Q3) of the financial year 2023-24 (FY24), and its foray into the healthcare space . As a result of this, PB Fintech’s market cap zoomed to $11 Bn by the end of 2024 from $4.2 Bn a year ago. The company posted a net profit of INR 50.98 Cr in Q2 FY25, with operating revenue zooming over 43% year-on-year (YoY) to INR 1,167.2 Cr. Shares of fintech SaaS company Zaggle jumped over 150% in 2024 on the back of strong financial performance and strategic acquisitions to expand offerings. While the stock was on an uptrend since the beginning of the year, it saw a spike in early September after the company bagged an order from HDFC ERGO General Insurance Company. The uptrend continued as Zaggle announced two acquisitions in the same month. While it announced acquiring a 98% stake in Span Across IT Solutions for approximately INR 32 Cr, it bought a 26% stake in Mobileware Technologies (now ‘86400’) for INR 15.6 Cr. In Q2 FY25, the company posted a net profit of INR 20.29 Cr as against INR 7.58 Cr in the corresponding quarter of the previous year. While the company continued to bag contracts from enterprises throughout 2024, it also partnered with the Open Network for Digital Commerce (ONDC) to facilitate the issuance of prepaid payment instruments to customers. In its Q2 earnings release, Zaggle said it is actively seeking more strategic alliances and M&As with a combined strategy of small tuck-ins and larger investment opportunities in the SaaS fintech sector, including areas like NBFC and payments. The company raised nearly INR 595 Cr through a qualified institutional placement (QIP) in December and is eyeing three more investments and acquisitions by March 2025 . Zomato continued the momentum of 2023 into 2024, with its shares surging 136% to touch almost INR 300 mark. It was an eventful year for the Deepinder Goyal-led company, as it took a number of new initiatives to strengthen its position in the competitive market. While it bolstered its quick commerce business Blinkit amid intensifying competition, it launched ‘District’ to further strengthen its ‘going-out’ vertical. As part of this, Zomato acquired the entertainment ticketing business of Paytm . The company not only managed to retain its leading position in the food delivery and quick commerce markets but also saw an increase in its profits. Zomato posted a consolidated net profit of INR 176 Cr in Q2 FY25. Though it was a decline of 30% from INR 253 Cr in the preceding June quarter, it was 389% higher year-on-year (YoY). The company ended the year with its inclusion in the benchmark index BSE Sensex . Currently, 23 out of the 26 analysts covering the stock have a ‘buy’ or higher rating on it. The average price target (PT) for the stock is INR 302.58. Prashanth Tapse, senior VP (research) at Mehta Equities, said he recommends investing more in Swiggy. However, both Zomato and Swiggy should be part of the portfolios of investors. “Having said that, the valuations are expensive because the sectors in which these companies operate are new and lots of money is coming in. Though Zomato has more than doubled this year, the performance wouldn’t be the same going ahead as it’s an index stock now,” Tapse added. CarTrade Tech, which saw its share price double on the D-Street this year, largely traded sideways throughout the year and saw a breakout only in October due to improving fundamentals. The online classifieds and auto auction platform recorded a massive 509% YoY jump in its consolidated net profit to INR 30.72 Cr in Q2 FY25 from INR 5.04 Cr in the year-ago period. On the rise in its share price, JM Financial said in a research note that while increasing understanding of the company’s business model and its growth drivers, along with the operating leverage story, justifies the uptick, it has caught further strength with the company twice sharing guidance on Q3 FY25 – a 30% YoY growth in consumer group and 25-30% PAT growth sequentially. “While PAT growth guidance was in line with JM Financial’s estimate, 30% growth in New Auto considering the relatively muted auto sales environment was a positive surprise. We expect these to drive sharp upgrades in consensus estimates,” the brokerage said while reiterating its ‘buy’ rating and PT of INR 1,655 for CarTrade shares. Paytm arguably had the most happening year among the new-age tech companies. From hitting rock bottom in the early months of the year after a regulatory crackdown to scripting a successful turnaround, Paytm saw the worst and the best in 2024. The horror for Paytm started when the Reserve Bank of India (RBI), on January 31 this year, clamped down on Paytm Payments Bank , barring it from taking any deposits or credit transactions or top-ups in any of its customer accounts. The central bank stopped Paytm Payments Bank from providing any other banking services, such as UPI facility and fund transfers. Following this, shares of Paytm plummeted to around INR 300 from INR 800-INR 1,000 levels earlier. The Vijay Shekhar Sharma-led company then decided to focus on its core payments and merchant lending business . Paytm has also been actively leveraging AI to save costs and time. As part of this, the company announced cutting more than 5,000 jobs this year. The company also took some other steps like selling the entertainment ticketing business to Zomato and s tock acquisition rights in Japanese digital payments firm PayPay Corporation to SoftBank to focus on its core business and boost cash reserves. With the worst likely behind, shares of Paytm are expected to continue their momentum. Though there could be some profit booking, Mehta Equities’ Tapse believes that the stock can see another 20-30% growth if the company manages to post net profit in Q3 FY25 like it did in Q2. Paytm posted a consolidated PAT of INR 930 Cr in Q2, largely on the back of the sale of Paytm Insider to Zomato. Nazara Technologies doubled down on its acquisition spree in 2024. It started the year with the announcement that its subsidiary NODWIN Gaming will buy Comic Con India for INR 55 Cr. Soon NODWIN Gaming announced an investment of €8 Mn (around INR 71.8 Cr) in Freaks 4U Gaming GmbH, a German marketing services company for gaming and esports. Nazara also acquired a 100% stake in its subsidiary Nextwave. Its subsidiary Absolute Sports acquired Pennsylvania-based entertainment news site Soap Central for $1.4 Mn in an all-cash deal. Nazara also bought an additional 48.42% stake in Paper Boat Apps from its promoters Anupam and Anshu Dhanuka. Most recently, its subsidiary NODWIN Gaming announced acquiring another 93% stake in gaming and esports media company AFK Gaming . The acquisitions and market expansion this year were followed by Nazara raising funds from Zerodha’s Kamath Brothers, ICICI Prudential MF, and Plutus Wealth. Despite major announcements, the stock didn’t see any significant growth. After a fall in the March-May period, the shares largely traded sideways. Overall, the stock gained 22% in 2024 and is currently trading at around INR 1,000 level. Despite its foray into new verticals, shares of traveltech platform EaseMyTrip remained under pressure throughout 2024. The stock fell more than 16% during the year. The company posted a loss of INR 15 Cr for the March quarter of 2024 due to a one-time expense. However, EaseMyTrip posted a net profit of INR 33.9 Cr in the next quarter – Q1 FY25. It also said it would enter the ebus manufacturing segment and announced its foray into the hospitality vertical with plans to build a five-star hotel in Ayodhya. It also acquired a non-controlling stake of about 13% in Eco Hotels and Resorts Limited. However, its shares slumped significantly after CEO Nishant Pitti sold shares worth INR 920 Cr. EaseMyTrip also made its third bonus share issue this year. Ex-bonus, currently its shares are trading at INR 16.6 on the BSE. EaseMyTrip reported a 42.8% YoY decline in its consolidated PAT at INR 26.8 Cr in Q2 FY25. Analysts believe that significant competition in the traveltech market, with many unlisted companies also operating in the segment, and ixigo’s debut on the bourses are among the factors hindering EaseMyTrip’s growth. The year 2024 was not great for EaseMyTrip’s competitor Yatra as well. It slipped into the red and posted a consolidated net loss of INR 4.5 Cr in FY24 as against a net profit of INR 7.6 Cr in the previous fiscal year. In October, Ezeego Travels & Tours Ltd filed an insolvency petition against Yatra’s subsidiary TSI Yatra. However, the National Company Law Appellate Tribunal (NCLAT) recently stayed the National Company Law Tribunal (NCLT) order to initiate a corporate insolvency resolution process against TSI Yatra. Meanwhile, Yatra’s shares, which were on a downward trend since September, sharply declined to touch multiple all-time lows in October and November. The stock touched an all-time low at INR 102.4. In the September quarter of FY25, Yatra swung back to profit and posted a consolidated net profit of INR 7.3 Cr. Its shares are down around 21% this year. Amid severe competition in the D2C beauty and personal care space and changes in its business model, Mamaearth faced massive pressure in scaling its business this year. This also impacted its share price. The company also lost its unicorn status soon after it posted a consolidated net loss of INR 18.6 Cr in Q2 FY25 . Mamaearth’s revenue from operations declined nearly 7% YoY to INR 461.8 Cr during the quarter. Mamaearth parent Honasa’s cofounder and CEO Varun Alagh said in an analyst call that the company did not anticipate the high impact on margins from the renewed offline distribution strategy under ‘Project Neev’, introduced in November 2023. Emkay Research downgraded Honasa to ‘sell’ from a ‘buy’ rating and gave a PT of INR 300. “Limited offline presence and slower growth in the core brand may pave the way for the competition, where recouping in the long term would be daunting,” the brokerage said. “We await proof of execution as the management aims for a business turnaround.” Though JM Financial maintained its ‘buy’ rating, it said, “More work needs to be done to sharpen the focus in core categories, increase allocation to hero SKUs (salience of top-10 SKUs is 40-45% for Mamaearth vs 70-75% for other HPC brands), improve product superiority/proposition and execute better in 200K outlets (80% of weighted distribution for mass-premium brands).” Honasa’s shares fell over 40% this year and are trading at around INR 250-INR 260 levels. Of the 12 analysts covering the stock, 4 have a ‘sell’ rating currently and 6 recommend ‘buy’. Shares of NSE Emerge-listed blockchain and IT development company Yudiz Solutions took the biggest hit this year. After listing at a 12% premium to its IPO price in August last year, shares of Yudiz touched INR 150-INR 160 level in January this year. However, amid its weak financials, the stock slumped over 50% in 2024 and was trading at around INR 70 level by the end of the year. In between, the company also saw HDFC Bank freezing its bank account in which it stashed its IPO proceeds. The account was unfreezed after over a month. Yudiz slipped into the red in FY24 with a net loss of INR 2.9 Cr, hurt by a slump in its revenue in the second half (H2) of the fiscal year and a sharp rise in employee costs. In H1 FY25, the company reported a standalone net profit of INR 5,000 as against a profit of INR 1.34 Cr in the year-ago period. While the year was a mixed one for new-age tech stocks listed before 2024, the 13 new entrants on the bourses largely had a positive 2024. Most of the new-age tech stocks that went public this year listed at a premium to their respective IPO price. By the end of the year, only FirstCry and Unicommerce were trading below their listing price. Now, it remains to be seen what 2025 has in store for them. [Edited By Vinaykumar Rai]Franklin Resources Inc. purchased a new position in Morgan Stanley Direct Lending ( NYSE:MSDL – Free Report ) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 77,218 shares of the company’s stock, valued at approximately $1,555,000. Other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC boosted its holdings in Morgan Stanley Direct Lending by 4.4% during the third quarter. HighTower Advisors LLC now owns 15,900 shares of the company’s stock worth $315,000 after buying an additional 669 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Morgan Stanley Direct Lending during the 3rd quarter worth approximately $32,000. Muzinich & Co. Inc. purchased a new position in shares of Morgan Stanley Direct Lending during the 3rd quarter valued at approximately $68,000. Stifel Financial Corp grew its stake in Morgan Stanley Direct Lending by 11.6% in the 3rd quarter. Stifel Financial Corp now owns 38,625 shares of the company’s stock valued at $764,000 after acquiring an additional 4,025 shares during the period. Finally, Centiva Capital LP acquired a new stake in Morgan Stanley Direct Lending in the 3rd quarter valued at $213,000. Wall Street Analyst Weigh In Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Morgan Stanley Direct Lending in a report on Friday, September 13th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Morgan Stanley Direct Lending presently has a consensus rating of “Hold” and a consensus target price of $21.42. Morgan Stanley Direct Lending Stock Up 0.8 % Shares of NYSE:MSDL opened at $21.35 on Friday. Morgan Stanley Direct Lending has a 52-week low of $19.05 and a 52-week high of $24.18. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $20.62 and a two-hundred day moving average of $20.23. The stock has a market cap of $1.90 billion and a P/E ratio of 8.37. Morgan Stanley Direct Lending Cuts Dividend The company also recently disclosed a — dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, December 31st will be given a dividend of $0.10 per share. This represents a yield of 10.1%. The ex-dividend date is Tuesday, December 31st. Morgan Stanley Direct Lending’s payout ratio is currently 78.43%. Morgan Stanley Direct Lending Profile ( Free Report ) Morgan Stanley Direct Lending Fund is a business development company. It is a non-diversified, externally managed specialty finance company focused on lending to middle-market companies. Morgan Stanley Direct Lending Fund is based in NEW YORK. Read More Want to see what other hedge funds are holding MSDL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morgan Stanley Direct Lending ( NYSE:MSDL – Free Report ). Receive News & Ratings for Morgan Stanley Direct Lending Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morgan Stanley Direct Lending and related companies with MarketBeat.com's FREE daily email newsletter .ISLAMABAD – Pakistan has commenced the process of connecting to the 2Africa submarine cable network, marking a significant step towards modernizing its digital infrastructure. This development follows the decommissioning of the SMW-3 undersea cable, the country’s oldest and longest submarine internet network. The Pakistan Telecommunication Authority (PTA) confirmed the transition, stating that preparations are underway to integrate with the 45,000-kilometer-long AAE-2 cable system, which links 46 locations across Africa, Asia, and Europe. The rollout is being implemented in phases. The first phase, which began on December 1, involves the installation of Pre-Lay Shore End (PLSE) cables at Hawksbay, Karachi. The second phase, scheduled for April next year, will connect this shore-end setup to the main AAE-2 cable system in deep waters. Telecom authorities commended Transworld Associates (TWA), the local landing partner for the 2Africa cable, for spearheading the initiative and ensuring Pakistan’s connectivity to this global network. Minister of State for Information Technology Shaza Fatima Khawaja hailed the deployment of the 2Africa cable as a transformative milestone. She emphasized that the project would enhance internet speed and reliability, positioning Pakistan as a digitally connected nation. The AAE-2 system is expected to be operational by the end of next year, ushering in a new era of faster and more resilient digital communications for Pakistan.

Houston's Al-Shaair apologizes for hit on Jacksonville's Lawrence that led to concussion HOUSTON (AP) — Houston’s Azeez Al-Shaair took to X to apologize to Jacksonville’s Trevor Lawrence after his violent blow to the quarterback’s facemask led to him being carted off the field with a concussion. Back in the starting lineup after missing two games with a sprained left shoulder, Lawrence scrambled left on a second-and-7 play in the second quarter of Houston’s 23-20 win on Sunday. He initiated a slide before Al-Shaair raised his forearm and unleashed on the defenseless quarterback. In the long post, Al-Shaair says "To Trevor I genuinely apologize to you for what ended up happening.” Jets are sticking with struggling Aaron Rodgers as their starting quarterback Aaron Rodgers will remain the New York Jets’ starting quarterback despite speculation the team could bench him in what has been a disappointing season. Interim coach Jeff Ulbrich said during a video call that he still believes Rodgers, who turned 41 on Monday, gives the Jets their best chance to win. Rodgers was 21 of 39 for 185 yards and touchdown passes to Davante Adams and Isaiah Davis but also had an interception returned 92 yards for a touchdown by Leonard Williams in the Jets’ 26-21 loss to Seattle on Sunday. Hall of Famer Randy Moss reveals he's 'battling something' internal and asks for prayers Hall of Fame wide receiver Randy Moss revealed he’s dealing with a health issue and asked fans to pray for him and his family. The 47-year-old ESPN football analyst made the announcement on Instagram from the set of the network’s “Sunday NFL Countdown” show. He directed his message to men and urged them to get checkups and bloodwork done, without specifying for any particular illness. Moss explained why he’s been wearing tinted sunglasses, saying, “I’m battling something, man, and it’s something internal, your boy is going to get through it.” College playoff bracket offers last dress rehearsal and one more chance to see where the SEC stands The next set of College Football Playoff rankings will be released Tuesday night under heavy scrutiny before the final bracket is set on Sunday. It will be one last chance to see just how much the selection committee loves the Southeastern Conference. The best gauge will be whether Miami, which suffered its second loss over the weekend, is placed behind any or all three SEC teams with three losses — Alabama, Mississippi and South Carolina, all of which are coming off wins. Whatever happens, the SEC is likely to have at least five teams in the 12-team field when the final bracket comes out. Mollie Marcoux Samaan stepping down as LPGA commissioner after 3 1/2 years of record prize money Mollie Marcoux Samaan is leaving after more than three years as LPGA commissioner. In a surprise announcement Monday, Marcoux Samaan says she will step down in January, just three weeks before the LPGA starts its 75th season. Liz Moore is the chief legal and technology officer. She'll be serving as interim commissioner until a search committee can find a permanent replacement. Marcoux Samaan was the athletic director at Princeton when she took over the LPGA in May 2021. Prize money has soared during her tenure. She also has faced criticism for the LPGA not gaining in popularity during a rise in women's sports. Kansas holds off Auburn for No. 1 in AP Top 25 as SEC grabs 3 of top 4 spots; UConn slides to No. 25 Kansas continues to hold the No. 1 ranking in The Associated Press Top 25 men’s college basketball poll. Auburn is pushing the Jayhawks in the latest poll after winning the Maui Invitational and checked in at No. 2. Two-time reigning national champion UConn nearly fell out entirely after an 0-3 week at Maui, falling from No. 2 to 25th. The Southeastern Conference had three of the top four teams with No. 3 Tennessee and No. 4 Kentucky behind the Tigers. The poll featured six new teams, headlined by No. 13 Oregon, No. 16 Memphis and No. 18 Pittsburgh. TCU, Duke climb into top 10, Notre Dame drops in women's AP Top 25; UCLA and UConn remain 1-2 TCU has its best ranking ever in The Associated Press Top 25 women’s basketball poll after a convincing win over Notre Dame. The Horned Frogs jumped eight spots to No. 9, the first time the school has ever been in the top 10. The Fighting Irish, who were third last week, fell seven spots to 10th after losses to TCU and Utah. UCLA remained No. 1, followed by UConn, South Carolina, Texas and LSU. USC, Maryland and Duke are next. Michael Andretti's Formula 1 dream comes to bittersweet fruition without his involvement Michael Andretti has been sidelined from his namesake motorsports organization and won’t have any role with the Formula 1 program he spent the last four years desperately trying to launch. His effort to get a program partnered with General Motors into F1 was approved last week, a month after he stepped aside from his teams. F1’s decision to expand its grid for Cadillac F1 came amidst a federal antitrust investigation into why Liberty Media refused to admit Andretti Global and after Andretti partners Dan Towriss and Mark Walter claimed controlling interest of the fledgling effort. Ryan Poles to remain Bears general manager and lead search for new head coach LAKE FOREST, Ill. (AP) — Chicago Bears president Kevin Warren said Ryan Poles will remain the general manager and serve as the point person in the search for a head coach to replace the fired Matt Eberflus. He says Poles will have the “final say” if the two have differing opinions on who should get the job. Chicago had never fired a coach during a season. But a six-game losing streak marked by questionable coaching decisions spurred the founding NFL franchise to change course. The Bears let Eberflus go Friday and replaced him on an interim basis with offensive coordinator Thomas Brown. Florida State hires Nebraska's Tony White as defensive coordinator, AP source says Florida State has hired Tony White to be its defensive coordinator after he developed consecutive top-20 defenses at Nebraska. That's according to a person familiar with the decision. The person spoke on condition of anonymity because neither the Seminoles nor Nebraska confirmed White’s move, which is pending a state background check. ESPN reported that White signed a three-year contract. White replaces Adam Fuller, who was fired last month. FSU coach Mike Norvell is trying to fill staff vacancies in hopes of salvaging a recruiting class. National Signing Day is Wednesday, with the transfer portal opening next week. Norvell also formally announced former UCF coach Gus Malzahn as his offensive coordinator. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.2 Leading Tech Stocks to Buy in 2025

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Joe Biden to announce Chinese semiconductor probe in coming daysWEST PALM BEACH, Fla. (AP) — President-elect Donald Trump appears to be siding with Elon Musk and his other backers in the tech industry as a dispute over immigration visas has divided his supporters. Trump, in an interview with the New York Post on Saturday, praised the use of visas to bring skilled foreign workers to the U.S. The topic has become a flashpoint within his conservative base. “I’ve always liked the visas, I have always been in favor of the visas. That’s why we have them," Trump said. In fact, Trump has in the past criticized the H-1B visas, calling them “very bad” and “unfair” for U.S. workers. During his first term as president, he unveiled a “Hire American” policy that directed changes to the program to try to ensure the visas were awarded to the highest-paid or most-skilled applicants. Despite his criticism of them and attempts to curb their use, he has also used the visas at his businesses in the past, something he acknowledged in his interview Saturday. “I have many H-1B visas on my properties. I’ve been a believer in H-1B. I have used it many times. It’s a great program," Trump told the newspaper. He did not appear to address questions about whether he would pursue any changes to the number or use of the visas once he takes office Jan. 20. Trump's hardline immigration policies, focused mostly on immigrants who are in the country illegally, were a cornerstone of his presidential campaign and a priority issue for his supporters. But in recent days, his coalition has split in a public debate largely taking place online about the tech industry's hiring of foreign workers. Hard-right members of Trump's movement have accused Musk and others in Trump's new flank of tech-world supporters of pushing policies at odds with Trump's “America First" vision. Software engineers and others in the tech industry have used H-1B visas for skilled foreign workers and say they are a critical tool for hard-to-fill positions. But critics have said they undercut U.S. citizens who could take those jobs. Some on the right have called for the program to be eliminated. Michelle L. Price, The Associated PressNew Texas A&M studio builds on Fort Worth's ambitions to become film center of Texas | Fort Worth Report

Belton ISD construction continues as part of $168 million bond fundingHPH Announces Receipt of Minimum Bid Price Notice from NasdaqNEW YORK, Dec. 02, 2024 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund’s common shares as summarized below. The distributions are payable on January 2, 2025 to shareholders of record on December 12, 2024, with an ex-dividend date of December 12, 2024. Fund Distribution Information as of October 31, 2024: Distribution rates are not performance and are calculated by annualizing the current distribution per share announced in this press release and dividing by the NAV or Market Price, as applicable, as of the reported date. A Fund’s distribution rate may be affected by numerous factors, including changes in realized and projected market returns, Fund performance, and other factors. There can be no assurance that a change in market conditions or other factors will not result in a change in a Fund’s distribution rate at a future time. Distributions may be comprised of ordinary income, net capital gains, and/or a return of capital (“ROC”) of your investment in a Fund. Because the distribution rate may include a ROC, it should not be confused with yield or performance. Average Annual Total Returns Based on NAV and Market Price (“MKT”) of Common Shares as of October 31, 2024: Performance for periods of more than one year is annualized. Past performance is not a guarantee or a reliable indicator of future results. There can be no assurance that a Fund or any investment strategy will achieve its investment objectives or structure its investment portfolio as anticipated. An investment in a Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Shares may be worth more or less than original purchase price. Due to market volatility, current performance may be lower or higher than average annual returns shown. Returns are calculated by determining the percentage change in net asset value (“NAV”) or market price (as applicable) of the Fund’s common shares in the specific period. The calculation assumes that all dividends and distributions, if any, have been reinvested. NAV and market price returns do not reflect broker sales charges or commissions in connection with the purchase or sales of Fund shares and includes the effect of any expense reductions. Returns for a period of less than one year are not annualized. Returns for a period of more than one year represent the average annual return. Performance at market price will differ from results at NAV. Although market price returns typically reflect investment results over time, during shorter periods returns at market price can also be influenced by factors such as changing views about a Fund, market conditions, supply and demand for a Fund’s shares or changes in Fund dividends and distributions. Additional Information Distributions from PMF, PML, PMX, PCQ, PCK, PZC, PNF, PNI and PYN are generally exempt from regular federal income taxes (i.e., excluded from gross income for federal income tax purposes but not necessarily exempt from the federal alternative minimum tax). In addition, distributions from PCQ, PCK and PZC are also generally exempt from California state income taxes, and distributions from PNF, PNI and PYN are generally exempt from New York State and city income taxes. There can be no assurance that all distributions paid by these Funds will be exempt from federal income taxes or applicable state or local income taxes. Distributions may include ordinary income, net capital gains and/or a return of capital. Generally, a return of capital occurs when the amount distributed by a Fund includes a portion of (or is comprised entirely of) your investment in the Fund in addition to (or rather than) your pro-rata portion of the Fund’s net income or capital gains. A Fund’s distributions in any period may be more or less than the net return earned by the Fund on its investments, and therefore should not be used as a measure of performance or confused with “yield” or “income.” A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of a Fund. If a Fund estimates that a portion of a distribution may be comprised of amounts from sources other than net investment income, as determined in accordance with its internal accounting records and related accounting practices, the Fund will notify shareholders of the estimated composition of such distribution through a Section 19 Notice. For these purposes, a Fund estimates the source or sources from which a distribution is paid, to the close of the period as of which it is paid, in reference to its internal accounting records and related accounting practices. If, based on such accounting records and practices, it is estimated that a particular distribution does not include capital gains or paid-in surplus or other capital sources, a Section 19 Notice generally would not be issued. It is important to note that differences exist between a Fund’s daily internal accounting records and practices, the Fund’s financial statements presented in accordance with U.S. GAAP, and recordkeeping practices under income tax regulations. For instance, a Fund’s internal accounting records and practices may take into account, among other factors, tax-related characteristics of certain sources of distributions that differ from treatment under U.S. GAAP. Examples of such differences may include, among others, the treatment of paydowns on mortgage-backed securities purchased at a discount and periodic payments under interest rate swap contracts. Accordingly, among other consequences, it is possible that a Fund may not issue a Section 19 Notice in situations where the Fund’s financial statements prepared later and in accordance with U.S. GAAP and/or the final tax character of those distributions might later report that the sources of those distributions included capital gains and/or a return of capital. Please visit www.pimco.com for the most recent Section 19 Notice, if applicable, and most recent shareholder reports for additional information regarding the estimated composition of distributions. Final determination of a distribution’s tax character will be provided to shareholders when such information is available. The tax treatment and characterization of a Fund’s distributions may vary significantly from time to time because of the varied nature of the Fund’s investments. For example, a Fund may enter into opposite sides of multiple interest rate swaps or other derivatives with respect to the same underlying reference instrument (e.g., a 10-year U.S. treasury) that have different effective dates with respect to interest accrual time periods for the principal purpose of generating distributable gains (characterized as ordinary income for tax purposes) that are not part of the Fund’s duration or yield curve management strategies. In such a “paired swap transaction”, the Fund would generally enter into one or more interest rate swap agreements whereby the Fund agrees to make regular payments starting at the time the Fund enters into the agreements equal to a floating interest rate in return for payments equal to a fixed interest rate (the “initial leg”). The Fund would also enter into one or more interest rate swap agreements on the same underlying instrument, but take the opposite position (i.e., in this example, the Fund would make regular payments equal to a fixed interest rate in return for receiving payments equal to a floating interest rate) with respect to a contract whereby the payment obligations do not commence until a date following the commencement of the initial leg (the “forward leg”). A Fund may engage in investment strategies, including those that employ the use of derivatives, to, among other things, seek to generate current, distributable income, even if such strategies could potentially result in declines in the Fund’s NAV. A Fund’s income and gain-generating strategies, including certain derivatives strategies, may generate current income and gains taxable as ordinary income sufficient to support monthly distributions even in situations when the Fund has experienced a decline in net assets due to, for example, adverse changes in the broad U.S. or non-U.S. equity markets or the Fund’s debt investments, or arising from its use of derivatives. Because some or all of these transactions may generate capital losses without corresponding offsetting capital gains, portions of a Fund’s distributions recognized as ordinary income for tax purposes (such as from paired swap transactions) may be economically similar to a taxable return of capital when considered together with such capital losses. The tax treatment of certain derivatives in which a Fund invests may be unclear and thus subject to recharacterization. Any recharacterization of payments made or received by a Fund pursuant to derivatives potentially could affect the amount, timing or character of Fund distributions. In addition, the tax treatment of such investment strategies may be changed by regulation or otherwise. The common shares of the Funds trade on the New York Stock Exchange. As with any stock, the price of a Fund’s common shares will fluctuate with market conditions and other factors. If you sell your common shares of a Fund, the price received may be more or less than your original investment. Shares of closed-end investment management companies, such as the Funds, frequently trade at a discount from their net asset value and may trade at a price that is less than the initial offering price and/or the net asset value of such shares. Further, if a Fund’s shares trade at a price that is more than the initial offering price and/or the net asset value of such shares, including at a substantial premium and/or for an extended period of time, there is no assurance that any such premium will be sustained for any period of time and will not decrease, or that the shares will not trade at a discount to net asset value thereafter. The Funds’ daily New York Stock Exchange closing market prices, net asset values per share, as well as other information, including updated portfolio statistics and performance are available at pimco.com/closedendfunds or by calling the Funds’ shareholder servicing agent at (844) 33-PIMCO. Updated portfolio holdings information about a Fund will be available approximately 15 calendar days after such Fund’s most recent fiscal quarter end, and will remain accessible until such Fund files a shareholder report or a publicly available Form N-PORT for the period that includes the date of the information. A Fund’s shares do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution, and are not insured by the FDIC, the Federal Reserve Board or any other government agency. You may lose money by investing in a Fund. Certain risks associated with investing in a Fund are summarized below. An investor should consider, among other things, a Fund’s investment objectives, risks, charges and expenses carefully before investing. A Fund’s annual report contains (or will contain) this and other information about the Fund. A word about risk: Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and low interest rate environments increase this risk. Reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market’s perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. Investing in foreign-denominated and/or -domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Corporate debt securities are subject to the risk of the issuer’s inability to meet principal and interest payments on the obligation and may also be subject to price volatility due to factors such as interest rate sensitivity, market perception of the creditworthiness of the issuer and general market liquidity. Bank loans are often less liquid than other types of debt instruments and general market and financial conditions may affect the prepayment of bank loans, and as such the prepayments cannot be predicted with accuracy. There is no assurance that the liquidation of any collateral from a secured bank loan would satisfy the borrower’s obligation, or that such collateral could be liquidated. Contingent Convertible (“Coco”) Bonds are bonds that are converted into equity of the issuing company if a pre-specified trigger occurs. Co-cos are subject to a different type of risk from traditional bonds and may result in a partial or total loss of value or may be converted into shares of the issuing company which may also have suffered a loss in value. Collateralized Loan Obligations (CLOs) may involve a high degree of risk and are intended for sale to qualified investors only. Investors may lose some or all of the investment and there may be periods where no cash flow distributions are received. CLOs are exposed to risks such as credit, default, liquidity, management, volatility, interest rate, and credit risk. Convertible securities may be called before intended, which may have an adverse effect on investment objectives. Floating rate loans are not traded on an exchange and are subject to significant credit, valuation and liquidity risk. A Fund may invest without limit in below investment grade debt securities (commonly referred to as “high yield” securities or “junk bonds”), including securities of stressed and distressed issuers. High-yield, lower-rated, securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Real estate investment trusts (or REITs) are subject to risk, such as poor performance by the manager, adverse changes to tax laws or failure to qualify for tax-free pass-through of income. Investments in residential/commercial mortgage loans and commercial real estate debt are subject to risks that include prepayment, delinquency, foreclosure, risks of loss, servicing risks and adverse regulatory developments, which risks may be heightened in the case of non-performing loans. Investing in distressed loans and bankrupt companies is speculative and the repayment of default obligations contains significant uncertainties. Distressed and Defaulted Securities involve substantial risks, including the risk of default. Such investments may be in default at the time of investment. In addition, these securities may fluctuate more in price, and are typically less liquid. Commodities contain heightened risk, including market, political, regulatory and natural conditions, and may not be appropriate for all investors. Many energy sector master limited partnerships (or MLPs) and other companies in which PDX may invest operate natural gas, natural gas liquids, crude oil, refined products, coal, or other facilities within the energy sector and will be susceptible to adverse economic, environmental, or regulatory occurrences affecting the sector including sharp decreases in crude oil or natural gas prices. Energy Sector Risk. PDX will be concentrated in the energy sector, and will therefore be susceptible to adverse economic, environmental, or regulatory occurrences affecting that sector. Private credit involves an investment in non-publicly traded securities which may be subject to illiquidity risk. Portfolios that invest in private credit may be leveraged and may engage in speculative investment practices that increase the risk of investment loss. A Fund will also have exposure to such risks through its investments in mortgage and asset-backed securities, which are highly complex instruments that may be sensitive to changes in interest rates and subject to early repayment risk. Income from municipal bonds is exempt from federal income tax and may be subject to state and local taxes and at times the alternative minimum tax; a strategy concentrating in a single or limited number of states is subject to greater risk of adverse economic conditions and regulatory changes. Structured products such as collateralized debt obligations are also highly complex instruments, typically involving a high degree of risk; use of these instruments may involve derivative instruments that could lose more than the principal amount invested. Sovereign securities are generally backed by the issuing government, obligations of U.S. Government agencies and authorities are supported by varying degrees but are generally not backed by the full faith of the U.S. Government; portfolios that invest in such securities are not guaranteed and will fluctuate in value. Concentration of assets in one or a few sectors may entail greater risk than a fully diversified portfolio and should be considered as only part of a diversified portfolio. Investing in foreign-denominated and/or -domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Leveraging transactions, including borrowing, typically will cause a portfolio to be more volatile than if the portfolio had not been leveraged. Leveraging transactions typically involve expenses, which could exceed the rate of return on investments purchased by a fund with such leverage and reduce fund returns. The use of leverage may cause a portfolio to liquidate positions when it may not be advantageous to do so. Leveraging transactions may increase a fund’s duration and sensitivity to interest rate movements. Derivatives may involve certain costs and risks, such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. Each of PDO, PNF and PYN is non-diversified, which means that it may invest its assets in a smaller number of issuers than a diversified Fund. Limited Term Risk. With respect to PDX, PDO and PAXS (each, for purposes of this paragraph only, a “Limited Term Fund”), unless the limited term provision of a Limited Term Fund’s Amended and Restated Agreement and Declaration of Trust (the “Declaration of Trust”) is amended by shareholders in accordance with the Declaration of Trust, or unless a Limited Term Fund completes a tender offer, as of a date within twelve months preceding the Dissolution Date (as defined below), to all common shareholders to purchase 100% of the then outstanding common shares of such Limited Term Fund at a price equal to the NAV per common share on the expiration date of the tender offer (an “Eligible Tender Offer”), and converts to perpetual existence, such Limited Term Fund will terminate. PDX will terminate on or about January 29, 2031; PDO will terminate on or about January 27, 2033; and PAXS will terminate on or about January 27, 2034 (each such termination date, a “Dissolution Date”). No Limited Term Fund is a “target term” fund whose investment objective is to return its original net asset value on the Dissolution Date or in an Eligible Tender Offer. Because the assets of each Limited Term Fund will be liquidated in connection with the dissolution, such Limited Term Fund will incur transaction costs in connection with dispositions of portfolio securities. The Limited Term Funds do not limit their investments to securities having a maturity date prior to the applicable Dissolution Date and may be required to sell portfolio securities when they otherwise would not, including at times when market conditions are not favorable, which may cause such Limited Term Fund to lose money. In particular, a Limited Term Fund’s portfolio may still have large exposures to illiquid securities as its Dissolution Date approaches, and losses due to portfolio liquidation may be significant. Beginning one year before the applicable Dissolution Date (the “Wind-Down Period”), a Limited Term Fund may begin liquidating all or a portion of its portfolio, and may deviate from its investment strategy and may not achieve its investment objectives. As a result, during the Wind-Down Period, a Limited Term Fund’s distributions may decrease, and such distributions may include a return of capital. A Limited Term Fund’s investment objectives and policies are not designed to seek to return investors’ original investment upon termination of such Limited Term Fund, and investors may receive more or less than their original investment upon termination of such Limited Term Fund. As the assets of a Limited Term Fund will be liquidated in connection with its termination, such Limited Term Fund may be required to sell portfolio securities when it otherwise would not, including at times when market conditions are not favorable, which may cause such Limited Term Fund to lose money. Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. Closed-end funds may be leveraged and carry various risks depending upon the underlying assets owned by a fund. Investment policies, management fees and other matters of interest to prospective investors may be found in each closed-end fund annual and semi-annual report. For additional information, please contact your investment professional or call 1-844-337-4626. About PIMCO PIMCO was founded in 1971 in Newport Beach, California and is one of the world’s premier fixed income investment managers. Today we have offices across the globe and 3,000+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider. Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO’s sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statement. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America LLC in the United States and throughout the world. PIMCO Investments LLC, 1633 Broadway, New York, NY 10019, is a company of PIMCO. ©2024, PIMCO. For information on PIMCO Closed-End Funds: Financial Advisors: (800) 628-1237 Shareholders: (844) 337-4626 or (844) 33-PIMCO PIMCO Media Relations: (212) 597-1054