EPlus: Fiscal Q4 Earnings Snapshot
HERNDON, Va. (AP) — HERNDON, Va. (AP) — EPlus Inc. (PLUS) on Thursday reported net income of $25.2 million in its fiscal fourth quarter.
On a per-share basis, the Herndon, Virginia-based company said it had profit of 95 cents. Earnings, adjusted for non-recurring costs and stock option expense, were $1.11 per share.
The computer products reseller posted revenue of $498.1 million in the period.
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The Hill
27 minutes ago
- The Hill
Top US universities raced to become global campuses. Under Trump, it's becoming a liability
WASHINGTON (AP) — Three decades ago, foreign students at Harvard University accounted for just 11% of the total student body. Today, they account for 26%. Like other prestigious U.S. universities, Harvard for years has been cashing in on its global cache to recruit the world's best students. Now, the booming international enrollment has left colleges vulnerable to a new line of attack from President Donald Trump. The president has begun to use his control over the nation's borders as leverage in his fight to reshape American higher education. Trump's latest salvo against Harvard uses a broad federal law to bar foreign students from entering the country to attend the campus in Cambridge, Massachusetts. His order applies only to Harvard, but it poses a threat to other universities his administration has targeted as hotbeds of liberalism in need of reform. It's rattling campuses under federal scrutiny, including Columbia University, where foreign students make up 40% of the campus. As the Trump administration stepped up reviews of new student visas last week, a group of Columbia faculty and alumni raised concerns over Trump's gatekeeping powers. 'Columbia's exposure to this 'stroke of pen' risk is uniquely high,' the Stand Columbia Society wrote in a newsletter. People from other countries made up about 6% of all college students in the U.S. in 2023, but they accounted for 27% of the eight schools in the Ivy League, according to an Associated Press analysis of Education Department data. Columbia's 40% was the largest concentration, followed by Harvard and Cornell at about 25%. Brown University had the smallest share at 20%. Other highly selective private universities have seen similar trends, including at Northeastern University and New York University, which each saw foreign enrollment double between 2013 and 2023. Growth at public universities has been more muted. Even at the 50 most selective public schools, foreign students account for about 11% of the student body. America's universities have been widening their doors to foreign students for decades, but the numbers shot upward starting around 2008, as Chinese students came to U.S. universities in rising numbers. It was part of a 'gold rush' in higher education, said William Brustein, who orchestrated the international expansion of several universities. 'Whether you were private or you were public, you had to be out in front in terms of being able to claim you were the most global university,' said Brustein, who led efforts at Ohio State University and West Virginia University. The race was driven in part by economics, he said. Foreign students typically aren't eligible for financial aid, and at some schools they pay two or three times the tuition rate charged to U.S. students. Colleges also were eyeing global rankings that gave schools a boost if they recruited larger numbers of foreign students and scholars, he said. But the expansion wasn't equal across all types of colleges — public universities often face pressure from state lawmakers to limit foreign enrollment and keep more seats open for state residents. Private universities don't face that pressure, and many aggressively recruited foreign students as their numbers of U.S. students stayed flat. The college-going rate among American students has changed little for decades, and some have been turned off on college by the rising costs and student debt loads. Proponents of international exchange say foreign students pour billions of dollars into the U.S. economy, and many go on to support the nation's tech industry and other fields in need of skilled workers. Most international students study the STEM fields of science, technology, engineering and math. In the Ivy League, most international growth has been at the graduate level, while undergraduate numbers have seen more modest increases. Foreign graduate students make up more than half the students at Harvard's government and design schools, along with five of Columbia's schools. The Ivy League has been able to outpace other schools in large part because of its reputation, Brustein said. He recalls trips to China and India, where he spoke with families that could recite where each Ivy League school sat in world rankings. 'That was the golden calf for these families. They really thought, 'If we could just get into these schools, the rest of our lives would be on easy street,'' he said. Last week, Trump said he thought Harvard should cap its foreign students to about 15%. 'We have people who want to go to Harvard and other schools, they can't get in because we have foreign students there,' Trump said at a news conference. The university called Trump's latest action banning entry into the country to attend Harvard 'yet another illegal retaliatory step taken by the Administration in violation of Harvard's First Amendment rights.' In a lawsuit challenging the Trump administration's previous attempt to block international students at Harvard, the university said its foreign student population was the result of 'a painstaking, decades-long project' to attract the most qualified international students. Losing access to student visas would immediately harm the school's mission and reputation, it said. 'In our interconnected global economy,' the school said, 'a university that cannot welcome students from all corners of the world is at a competitive disadvantage.' ___ The Associated Press' education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
Yahoo
28 minutes ago
- Yahoo
Rocket Companies Announces Pricing of Senior Notes due 2030 and Senior Notes due 2033
DETROIT, June 5, 2025 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) (the "Company" or "Rocket Companies"), the Detroit-based fintech platform including mortgage, real estate, title and personal finance businesses, today priced its private offering of $2.0 billion aggregate principal amount of 6.125% senior notes due 2030 and $2.0 billion aggregate principal amount of 6.375% senior notes due 2033 (collectively, the "Notes" and such offering, the "Offering"). The Notes will initially be fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by Rocket Mortgage, LLC ("Rocket Mortgage") and each of Rocket Mortgage's domestic subsidiaries that are issuers or guarantors under Rocket Mortgage's existing senior notes. Upon the consummation of the previously announced proposed acquisition of Redfin Corporation ("Redfin" and such acquisition, the "Redfin Acquisition"), the Notes will also be guaranteed, on a senior unsecured basis, by Redfin. Upon the consummation of the previously announced proposed acquisition of Mr. Cooper Group Inc. ("Mr. Cooper" and such acquisition, the "Mr. Cooper Acquisition"), the Notes will also be guaranteed, jointly and severally, on a senior unsecured basis, by Mr. Cooper and each of Mr. Cooper's subsidiaries that are issuers or guarantors of existing senior notes of Nationstar Mortgage Holdings Inc.'s, a subsidiary of Mr. Cooper ("NMH"). The Offering is expected to close on June 20, 2025, subject to certain customary conditions. The Company intends to use the proceeds from the Offering to (i) on the closing date for the Mr. Cooper Acquisition, redeem NMH's 5.000% senior notes due 2026, 6.000% senior notes due 2027 and 5.500% senior notes due 2028 at redemption prices equal to 100% of the principal amount of such notes, plus accrued and unpaid interest to, but excluding, the redemption date (the "Redemption"), (ii) pay fees and expenses related to the Offering and the Redemption, (iii) at the Company's discretion, redeem, purchase (including, if required, in a change of control offer) and/or amend NMH's 6.500% senior notes due 2029, 5.125% senior notes due 2030, 5.750% senior notes due 2031 and 7.125% senior notes due 2032 and pay fees and expenses in connection therewith and (iv) after the consummation of the Mr. Cooper Acquisition, repay secured debt of the Company and its subsidiaries (including Redfin, Mr. Cooper and their subsidiaries). The Offering is not contingent on the consummation of the Redfin Acquisition or the Mr. Cooper Acquisition. The Notes will be subject to a special mandatory redemption if the Mr. Cooper Acquisition is not consummated by September 30, 2026, and a partial special mandatory redemption 45 days after the Mr. Cooper Acquisition for any of the Notes proceeds that are not, within 45 days of the Mr. Cooper Acquisition, used in the Redemption or the repayment of other secured debt of the Company and its subsidiaries. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, and outside the United States, to non-U.S. investors pursuant to Regulation S. The Notes and related guarantees will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements or in a transaction not subject to the registration requirements of the Securities Act or any state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. All statements other than statements of historical facts, including statements regarding the Redfin Acquisition, the Mr. Cooper Acquisition, the collapse of our Up-C structure, our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management and expected market growth are forward-looking statements. As you read this press release, you should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions, including those described under the heading "Risk Factors" in our Annual Report on the Form 10-K for the fiscal year ended December 31, 2024, filed with the Securities and Exchange Commission (the "SEC") on March 3, 2025, as amended by the Form 10-K/A, filed with the SEC on April 28, 2025, and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the SEC on May 9, 2025. Although we believe that these forward-looking statements are based upon reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release. We expressly disclaim any intent, obligation or undertaking to update or revise any forward-looking statements made herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained in this press release. View original content to download multimedia: SOURCE Rocket Companies, Inc. Sign in to access your portfolio
Yahoo
32 minutes ago
- Yahoo
Palantir Shares Tumble 5% Despite CEO Pushes Back on Surveillance Allegations
June 5 - Shares of Palantir Technologies (NASDAQ:PLTR) fell more than 5% Thursday despite Chief Executive Alex Karp denied claims suggesting the company aided U.S. government surveillance of citizens under a prior administration. Speaking to CNBC, Karp said Palantir is "not surveilling Americans," pushing back against a New York Times report that said the firm may have been involved in compiling a broad database of U.S. citizens during Donald Trumps presidency. The Denver-based company issued a separate denial earlier this week on social platform X, calling the article blatantly untrue. Palantir said it does not gather data to unlawfully track Americans and emphasized its Foundry platform includes granular security measures. The New York Times story suggested Palantir may have been selected to help implement a Trump-era executive order aimed at merging data across federal agencies. The timing comes as Palantir continues to win U.S. government contracts. Karp, in the same interview, stressed the strategic importance of the U.S. leading in artificial intelligence development, adding that the West must adapt to stay competitive. Palantirs drop marks one of its sharpest single-day declines in recent weeks, with the stock hovering near one-month lows. This article first appeared on GuruFocus.
