The S&P 500 dipped 0.3%, a day after pulling back from its latest all-time high . They’re the first back-to-back losses for the index in nearly a month, as momentum slows following a big rally that has it on track for one of its best years of the millennium . The Dow Jones Industrial Average fell 154 points, or 0.3%, and the Nasdaq composite slipped 0.3%. Tech titan Oracle dragged on the market and sank 6.7% after reporting growth for the latest quarter that fell just short of analysts’ expectations. It was one of the heaviest weights on the S&P 500, even though CEO Safra Catz said the company saw record demand related to artificial-intelligence technology for its cloud infrastructure business, which trains generative AI models. AI has been a big source of growth that’s helped many companies’ stock prices skyrocket. Oracle’s stock had already leaped more than 80% for the year coming into Tuesday, which raised the bar of expectations for its profit report. In the bond market, Treasury yields ticked higher ahead of Wednesday’s report on the inflation that U.S. consumers are feeling. Economists expect it to show similar increases as the month before. Wednesday’s update and a report on Thursday about inflation at the wholesale level will be the final big pieces of data the Federal Reserve will get before its meeting next week, where many investors expect the year’s third cut to interest rates . The Fed has been easing its main interest rate from a two-decade high since September to take pressure off the slowing jobs market, after bringing inflation nearly down to its 2% target. Lower rates would help give support to the economy, but they could also provide more fuel for inflation. Expectations for a series of cuts through next year have been a big reason the S&P 500 has set so many records this year. Trading in the options market suggests traders aren’t expecting a very big move for U.S. stocks following Wednesday’s report, according to strategists at Barclays. But a reading far off expectations in either direction could quickly change that. The yield on the 10-year Treasury rose to 4.22% from 4.20% late Monday. Even though the Fed has been cutting its main interest rate, mortgage rates have been more stubborn to stay high and have been volatile since the autumn. That has hampered the housing industry, and homebuilder Toll Brothers’ stock fell 6.9% even though it delivered profit and revenue for the latest quarter that topped analysts’ expectations. CEO Douglas Yearley Jr. said the luxury builder has been seeing strong demand since the start of its fiscal year six weeks ago, an encouraging signal as it approaches the beginning of the spring selling season in mid-January. Elsewhere on Wall Street, Alaska Air Group soared 13.2% after raising its forecast for profit in the current quarter. The airline said demand for flying around the holidays has been stronger than expected. It also approved a plan to buy back up to $1 billion of its stock, along with new service from Seattle to Tokyo and Seoul . Boeing climbed 4.5% after saying it’s resuming production of its bestselling plane , the 737 Max, for the first time since 33,000 workers began a seven-week strike that ended in early November. Vail Resorts rose 2.5% after the ski resort operator reported a smaller first-quarter loss than analysts expected in what is traditionally its worst quarter. All told, the S&P 500 fell 17.94 points to 6,034.91. The Dow dipped 154.10 to 44,247.83, and the Nasdaq composite slipped 49.45 to 19,687.24. In stock markets abroad, indexes were mixed in China after the world’s second-largest economy said its exports rose by less than expected in November. Stocks rose 0.6% in Shanghai but fell 0.5% in Hong Kong. Indexes fell across much of Europe ahead of a meeting last week by the European Central Bank, where the widespread expectation is for another cut in interest rates. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.Magic may have touched Fairview football’s Class 5A quarterfinal game at EchoPark Stadium during last week’s stunner over No. 2 Mountain Vista, but on Saturday afternoon in the same location, it was the No. 7 Knights who were spellbound.
SEASONED political observer Joe Kemmy says it's likely that Elisa O'Donovan will take the fourth and final seat in Limerick City. The Social Democrats councillor received a huge transfer of 339 votes from People Before Profit-Solidarity candidate Ruairi Fahy in the last count. She has moved 363 votes clear of her nearest rival, Dee Ryan - and 391 clear of Cllr Conor Sheehan, Labour. LIVE BLOG: General Election results from Limerick Now, Mr Kemmy, who is director of elections on the Labour campaign, has said he believes the gap is now too wide for his candidate to bridge. "The deficit is too big to make up. We don't give up, because there are a big bloc of votes to be dished out yet. But the Social Democrats seem to have the wind at their back. She is transferring well, and I think we will find it difficult to overhaul Elisa O'Donovan at this stage," he said. Mr Kemmy - who correctly predicted the mayoral election outcome three days before the declaration - added: "When a party gets a bounce as Labour get it, sometimes Sinn Fein get it, the Social Democrats got it this time, the brand delivers a certain percentage of the vote." "She is the beneficiary of that swing. Fair play to her. I think she will win, but she hasn't won yet. We'll finish fifth at worst in a four-seater constituency, which is never a nice place to finish. Conor is a young man, if he doesn't make it this time, I'm sure he will be back next time. He's a good worker and he will graft away." "But I do expect Elisa O'Donovan to be the next TD in Limerick," he concluded.NFL world reacts with excitement, surprise, questions after Bill Belichick is hired to coach UNC
US to transform white elephant destroyers by fitting hypersonic weaponsBBC Breakfast fans were left baffled on Saturday morning when the early news program broadcast from a pub at a time when most wouldn't have even had their morning toast. While presenters Naga Munchetty and Roger Johnson were helming the weekend instalment of the BBC news show, the cameras cut to reporter Oli Constable in Essex where he was standing outside a local pub in the market town of Saffron Walden. With the clock clearly showing it was the very early time of 7:20am and the winter sun had not yet begun to rise on the horizon, the young reporter bounded inside the building to reveal a bustling community of people gathered together in the pub. Standing outside The Ickleton Lion, Oli explained: "This is a community pub that has been saved from closure. It’s one of the oldest pubs in the village. Let’s go inside, shall we? Because it’s cold out here, but there’s going to be a lovely, nice warm welcome for us inside. "Let’s pop inside, because we’ve asked people to come down, early this morning, to say hello. Because this is a very exciting day. They had the keys just a week ago to reopen this pub and create this lovely community venue. And look how great it is!" The cameras showed a bustling pub environment and Old went on to interview members of the local community who had united together to save the historic venue - which has been serving the local community since 1728. It had been put up for sale by Greene King in 2023 and the local community members successfully raised £440,000 to secure the premise and keep it open. While the local news story certainly had its charm, viewers tuning in to BBC Breakfast on Saturday morning took to social media to question why the segment had been approved by news editors. One complained on X: "I know it's the Christmas holiday, and news is generally a bit slow, but a 'saving a pub' is more suited to #ThisMorning than #BBCBreakfast." Another viewer complained: "Dont look like a pub, just turned up to get on the telly with a free coffee." And a further morning news fan who appeared to be lacking festive cheer added: "England's most boring pub." The team at the Ickleton Lion pub, however, were very happy with the spotlight that was shone upon them in the early hours of the weekend. Taking to Facebook following their starring role on the BBC show, the group wrote: "A huge thank you to Oli and Kevin from BBC Breakfast for joining us this morning to cover our brilliant news! It was lovely to meet you both." They added: "Fabulous support too from loads of Ickletonians and shareholders - some coming from as far afield as Kent, Surrey and Scotland ! Thank you all for coming out so early. There’ll be a mega celebration when we open in a few months time. Looking forward to seeing you all then!" Follow Mirror Celebs on TikTok , Snapchat , Instagram , Twitter , Facebook , YouTube and Threads.
Participation in hockey in British Columbia was struggling in 2021 — the pandemic had dealt a heavy blow to player registrations, and numbers had already been flagging before COVID-19 arrived. “I think there were a lot of families that were impacted at that time,” said Pacific Coast Amateur Hockey Association president Melanie Earland, whose group governs minor hockey in B.C.’s Lower Mainland, including Metro Vancouver. “The world changed,” she said. Player participation had peaked in 2016-2017 with more than 62,000 registrations, Hockey Canada statistics for B.C. show, falling under 58,000 just before the pandemic began in 2020, then plummeting to 39,056 that season. Rising costs and growing competition from other sports had also been chipping away at youth hockey participation. But that is now changing, with registration for this season in B.C. surging past the 63,000 mark, a rebound that follows a concerted effort to make the game more accessible, especially to groups not traditionally linked to the sport such as new Canadians and Indigenous communities. Tom Oberti, president of the West Vancouver Minor Hockey Association, said his organization had seen record registrations this year, more than 8 per cent higher than last season. “We’re bursting at the seams,” Oberti said, noting the association has had to look outside West Vancouver to find ice time to fit all the players. “The reason why we’ve grown is because we’ve put a lot of effort into reaching out to new, non-traditional hockey demographics,” he said. “For example, we run ball hockey programs in elementary schools to introduce the sport, and we’ve done a lot to reach out to the Mandarin-speaking community, because it’s a growing segment of our community on the North Shore.” Oberti said the association has leveraged Mandarin- and Persian-speaking families already with kids in youth hockey, establishing links to new players through parent groups on social media platforms targeting specific communities such as WeChat and WhatsApp as well as word of mouth from schoolchildren who already play the game. Families new to Canada want to do things they consider Canadian, Oberti said, and they are embracing hockey. “Hockey has an advantage there,” he said. “There are a lot of families that do want to participate in the sport — or who are interested in the sport — because of the way it’s intertwined in the fabric of social life in Canada.” At the Richmond Jets Minor Hockey Association, vice-president Trent Gustafson said while his group has seen about a 15-to-20 per cent drop-off in participation from a peak in 2018-2019, registration is growing again, and players from non-traditional communities make up a big part of that rebound. “We’re up to around 915 to 920 kids playing hockey at Jets this year,” Gustafson said. “We don’t collect (data) in terms of the ethnicity of our members specifically, but I can safely say more than half are non-Caucasian members.” Just as important as getting children in these communities playing hockey, Gustafson said, is the fact that parents new to the game are also eager to volunteer. He said that is a vital contribution to the minor hockey system largely run by volunteers and parents in their spare time. “Those parents are, frankly, just as crazy hockey parents as you’re getting in some of the other cities and towns in not only British Columbia but across the country,” he said. “It’s interesting, the people it seems these days that are almost more willing to volunteer are some of the newer people to hockey. They’ve just fallen in love with the game.” Earland said other efforts to attract players include a try-hockey-for-free program in Cloverdale, B.C., for Indigenous youth, and they are trying to make the game more affordable through equipment programs and other initiatives. “Nobody in minor hockey wants to hear a family say, ‘We want to play but our kids can’t afford it or we can’t afford it,’” she said. She said she wants every child to have an opportunity to play hockey. “It’s a fabulous sport. It offers friendships and teamwork and camaraderie for all of our youth.” Chilliwack Minor Hockey Association president Lee McCaw said his group does not target any specific community for new players, but the province’s rapid population growth and its diversity means more kids being registered from every background. “I think our inclusion for everybody to be able to participate is huge,” McCaw said. “We have a huge First Nations population in our city, and there’s a lot of learn-to-skate programs that are specifically designed for every ethnicity group and everybody inclusively, together and within Chilliwack.” Nathan Bosa, the president of the Kamloops Minor Hockey Association, said even if there are no specific programs aimed at the diverse newcomer groups, sport could be an opportunity to support them. “We’re talking about this as a board a while ago, about having a program for new people coming into Canada and into Kamloops (to) give them a little bit of an instruction on how things work,” Bosa said. “It’s something that we’re going to be looking at in the new year. I think we’ve started to see that the influx is very noticeable, and it’s good. Getting children into sport, whether it’s hockey or something else, allows children and their parents to make friends and it brings them into the community, Bosa said. Bosa and McCaw also noted the impact of hockey exposure in the South Asian community as another factor in attracting new players, including Hockey Night in Canada’s Punjabi broadcast, and homegrown talent such as Arshdeep Bains from Surrey playing for the Vancouver Canucks in February. The Winnipeg Jets, meanwhile, signed forward Kevin He to a three-year entry-level deal this month, making him the first player born in China to ink an NHL deal. Scott Furman, Hockey Canada’s vice-president of growth and retention, said progress has also been made on other fronts, with the visibility of women’s hockey skyrocketing as the Professional Women’s Hockey League drives female player registration to a new high beyond 100,000 countrywide this season. Furman said the upheaval and change in management at Hockey Canada in recent years meant a new approach, bringing inclusion and more programs to help with the costs of the game. He said the rebound in B.C. is symbolic of this change. “Last season, for the first time, we hit 50,000 players that identified as black, Indigenous or people of colour, and that was an 8-per-cent increase on the previous season,” Furman said. “In B.C., I think about 19 per cent of players identify as black, Indigenous or people of colour, which is well above the national average. And the South Asian community represents 4.5 per cent of all players — a 46 per cent increase since the 2021 season. “It certainly is a positive trend, but nothing’s taken for granted. And we’ve got to continue to do the work to make sure that it continues in that fashion.”Stock market today: Wall Street slips to a rare back-to-back loss
Why the Vikings gave head coach Kevin O’Connell a game ballBrokers say these ASX growth stocks are top buysRoss Barkley’s 85th-minute goal gave them victory in Germany after goals from John McGinn and Jhon Duran early in each half were cancelled out by Lois Openda and Christoph Baumgartner. That sent them up to third in the new league phase of the competition ahead of Wednesday’s games and with matches against Monaco and Celtic to come, Villa have an excellent chance of finishing in the top eight. That would mean they would avoid a play-off round to make it through to the last 16 and Emery says that is the target. “Today was key. Juventus at home, we were thinking more to win but in the end we accepted the draw because it was important for a point to be more or less in the top 24,” he told Amazon Prime. “Today was a match we were thinking at the beginning was key to be a contender to be in the top eight with the last two matches to be played. “It is going to be difficult and we have to get some more points but we now have the possibility to achieve this option. “We are going to enjoy and try to get top eight but we have to be happy because we are in the top 24 and maybe even the top 16. “We weren’t contenders in the beginning to get there but now we have to accept it.” Leipzig, who are flying high near the top of the Bundesliga, are out after losing all six matches. They did pose a threat to Villa, who inflicted some of their own problems on themselves, notably a rare gaffe from goalkeeper Emiliano Martinez for Openda’s equaliser. But Emery was happy with his side’s performance. “I try to enjoy and always we want to improve and sometimes it is hard but today the team were performing well, playing seriously and I was enjoying it,” he added. “We tried to overcome the mistakes we made and we did. More or less we were playing consistently. One mistake and they score but then we played very well. “Champions League is very difficult and we have to expect that every team playing at home are feeling strong. We played with consistency and domination.”
Ibadan, Abuja, Anambra stampedes: Why Nigerian police must be blamed — Falana
Revenue of $14,054 million for the fourth quarter, up 51 percent from the prior year period GAAP net income of $4,324 million for the fourth quarter; Non-GAAP net income of $6,965 million for the fourth quarter Adjusted EBITDA of $9,089 million for the fourth quarter, or 65 percent of revenue GAAP diluted EPS of $0.90 for the fourth quarter; Non-GAAP diluted EPS of $1.42 for the fourth quarter Cash from operations of $5,604 million for the fourth quarter, less capital expenditures of $122 million , resulted in $5,482 million of free cash flow, or 39 percent of revenue Quarterly common stock dividend increased by 11 percent from the prior quarter to $0.59 per share First quarter fiscal year 2025 revenue guidance of approximately $14.6 billion , an increase of 22 percent from the prior year period First quarter fiscal year 2025 Adjusted EBITDA guidance of approximately 66 percent of projected revenue (1) PALO ALTO, Calif. , Dec. 12, 2024 /PRNewswire/ -- Broadcom Inc. (Nasdaq: AVGO ), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its fourth quarter and fiscal year ended November 3, 2024 , provided guidance for its first quarter of fiscal year 2025 and announced its quarterly dividend. "Broadcom's fiscal year 2024 revenue grew 44% year-over-year to a record $51.6 billion , as infrastructure software revenue grew to $21.5 billion , on the successful integration of VMware," said Hock Tan, President and CEO of Broadcom Inc. "Semiconductor revenue was a record $30.1 billion driven by AI revenue of $12.2 billion . AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio." "In fiscal year 2024 adjusted EBITDA increased 37% year-over-year to a record $31.9 billion , and free cash flow excluding restructuring was strong at $21.9 billion ," said Kirsten Spears , CFO of Broadcom Inc. "Based on increased cash flows in fiscal year 2024, we are increasing our quarterly common stock dividend by 11% to $0.59 per share for fiscal year 2025. The target fiscal year 2025 annual common stock dividend of $2.36 per share is a record, and the fourteenth consecutive increase in annual dividends since we initiated dividends in fiscal 2011." Fourth Quarter Fiscal Year 2024 Financial Highlights The Company's cash and cash equivalents at the end of the fiscal quarter were $9,348 million , compared to $9,952 million at the end of the prior quarter. During the fourth fiscal quarter, the Company generated $5,604 million in cash from operations and spent $122 million on capital expenditures. The Company paid $1,204 million of withholding taxes related to net settled equity awards that vested in the quarter (resulting in the elimination of 7.4 million shares). On September 30, 2024 , the Company paid a cash dividend on a split adjusted basis of $0.53 per share, totaling $2,484 million . The differences between the Company's GAAP and non-GAAP results are described generally under "Non-GAAP Financial Measures" below and presented in detail in the financial reconciliation tables attached to this release. Fiscal Year 2024 Financial Highlights First Quarter Fiscal Year 2025 Business Outlook Based on current business trends and conditions, the outlook for the first quarter of fiscal year 2025, ending February 2, 2025 , is expected to be as follows: First quarter revenue guidance of approximately $14.6 billion ; and First quarter Adjusted EBITDA guidance of approximately 66 percent of projected revenue. The guidance provided above is only an estimate of what the Company believes is realizable as of the date of this release. The Company is not readily able to provide a reconciliation of projected Adjusted EBITDA to projected net income without unreasonable effort. Actual results will vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law. Quarterly Dividends The Company's Board of Directors has approved a quarterly cash dividend of $0.59 per share. The dividend is payable on December 31, 2024 to stockholders of record at the close of business ( 5:00 p.m. Eastern Time ) on December 23, 2024 . Financial Results Conference Call Broadcom Inc. will host a conference call to review its financial results for the fourth quarter and fiscal year 2024 and to discuss the business outlook today at 2:00 p.m. Pacific Time . To Listen via Internet: The conference call can be accessed live online in the Investors section of the Broadcom website at https://investors.broadcom.com/ . Replay: An audio replay of the conference call can be accessed for one year through the Investors section of Broadcom's website at https://investors.broadcom.com/ . Non-GAAP Financial Measures The non-GAAP measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. Broadcom believes non-GAAP financial information provides additional insight into the Company's on-going performance. Therefore, Broadcom provides this information to investors for a more consistent basis of comparison and to help them evaluate the results of the Company's on-going operations and enable more meaningful period to period comparisons. In addition to GAAP reporting, Broadcom provides investors with net income, operating income, gross margin, operating expenses, cash flow and other data on a non-GAAP basis. This non-GAAP information excludes amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring and other charges, acquisition-related costs, including integration costs, non-GAAP tax reconciling adjustments, and other adjustments. Management does not believe that these items are reflective of the Company's underlying performance. Internally, these non-GAAP measures are significant measures used by management for purposes of evaluating the core operating performance of the Company, establishing internal budgets, calculating return on investment for development programs and growth initiatives, comparing performance with internal forecasts and targeted business models, strategic planning, evaluating and valuing potential acquisition candidates and how their operations compare to the Company's operations, and benchmarking performance externally against the Company's competitors. The exclusion of these and other similar items from Broadcom's non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent or unusual. Free cash flow measures have limitations as they omit certain components of the overall cash flow statement and do not represent the residual cash flow available for discretionary expenditures. Investors should not consider presentation of free cash flow measures as implying that stockholders have any right to such cash. Broadcom's free cash flow may not be calculated in a manner comparable to similarly named measures used by other companies. About Broadcom Broadcom Inc. (NASDAQ: AVGO ) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom's category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com . Cautionary Note Regarding Forward-Looking Statements This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, and other statements identified by words such as "will," "expect," "believe," "anticipate," "estimate," "should," "intend," "plan," "potential," "predict," "project," "aim," and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of Broadcom's management, current information available to Broadcom's management, and current market trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, undue reliance should not be placed on such statements. Particular uncertainties that could materially affect future results include risks associated with: global economic conditions and concerns; government regulations and administrative proceedings, trade restrictions and trade tensions; global political and economic conditions; our acquisition of VMware, Inc., including our ability to realize the expected benefits; any acquisitions or dispositions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; dependence on and risks associated with distributors and resellers of our products; dependence on senior management and our ability to attract and retain qualified personnel; our ability to protect against cyber security threats and a breach of security systems; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; cyclicality in the semiconductor industry or in our target markets; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; prolonged disruptions of our or our contract manufacturers' manufacturing facilities, warehouses or other significant operations; our ability to accurately estimate customers' demand and adjust our manufacturing and supply chain accordingly; our ability to continue achieving design wins with our customers, as well as the timing of any design wins; our ability to improve our manufacturing efficiency and quality; involvement in legal proceedings; ability of our software products to manage and secure IT infrastructures and environments; demand for our data center virtualization products and market acceptance of our products and services; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; availability of third-party software used in our products; use of open source software in our products; sales to government customers; our ability to manage products and services lifecycles; quarterly and annual fluctuations in operating results; our competitive performance; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims, or other undetected defects or bugs; our ability to sell to new types of customers and to keep pace with technological advances; our compliance with privacy and data security laws; our provision for income taxes and overall cash tax costs; our ability to maintain tax concessions in certain jurisdictions; potential tax liabilities as a result of acquiring VMware; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; and other events and trends on a national, regional, industry-specific and global scale, including those of a political, economic, business, competitive and regulatory nature. Our filings with the SEC, which are available without charge at the SEC's website at https://www.sec.gov , discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law. Contact: Ji Yoo Broadcom Inc. Investor Relations 650-427-6000 [email protected] (AVGO-Q) SOURCE Broadcom Inc.Indiana tries to snap 3-game losing skid to NebraskaAn online debate over foreign workers in tech shows tensions in Trump's political coalition