Latest news with #805
The Star
08-05-2025
- Business
- The Star
Manufacturing sector sales value 3.7% y-o-y at RM164.3bil in March 2025
KUALA LUMPUR: Malaysia's manufacturing sector sales value rose 3.7 per cent year-on-year (y-o-y) at RM164.3 billion in March 2025 as compared to a 4.7 per cent y-o-y growth at RM153.1 billion in February 2025, according to the Department of Statistics Malaysia (DOSM). Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the growth in sales value in March 2025 was mainly driven by the food, beverages and tobacco sub-sector, which recorded a strong growth of 11.8 per cent y-o-y in March 2025 (February 2025: 14.5 per cent). "This was followed by the electrical and electronics products and non-metallic mineral products, basic metal and fabricated metal products sub-sectors at 7.4 per cent (February 2025: 7.8 per cent) and 4.0 per cent (February 2025: 4.4 per cent), respectively,' he said in the department's Monthly Manufacturing Statistics for March 2025 released today. He said the sales value of export-oriented industries, representing 70.9 per cent of total sales, expanded by 4.6 per cent y-o-y in March 2025 (February 2025: 5.8 per cent). "Furthermore, the manufacture of computer, electronics and optical products also rose by 8.0 per cent (February 2025: 7.8 per cent), while the manufacture of rubber products grew by 7.5 per cent (February 2025: 8.4 per cent),' he added. Similarly, Mohd Uzir said the domestic-oriented industries grew by 1.8 per cent y-o-y in March 2025, after registering a y-o-y increase of 2.3 per cent in February 2025. On a month-on-month basis, he said both export and domestic-oriented industries rebounded by 8.6 per cent and 4.2 per cent, respectively. Commenting on the number of employees, Mohd Uzir said there are 2.39 million persons engaged in the manufacturing sector during March 2025, a 1.1 per cent y-o-y rise (February 2025: 1.2 per cent). On a month-on-month basis, the number of employees in this sector decreased by 0.2 per cent. He said the salaries and wages paid in the manufacturing sector also posted a y-o-y increase of 1.8 per cent (February 2025: 2.0 per cent), amounting to RM8.4 billion in March 2025, while a month-on-month comparison showed a 0.4 per cent drop. "Subsequently, the sales value per employee went up to RM68,805 (2.6 per cent), while the average salaries & wages per employee was RM3,508, rose by 0.7 per cent year-on-year,' he said. For the manufacturing sector's performance in the first quarter of 2025, the sales value was registered at RM475.6 billion, a 4.0 per cent rise, compared to the same period of 2024 (4Q 2024: 4.4 per cent). The number of employees was up by 1.1 per cent to 2.39 million persons, while salaries and wages increased by 1.8 per cent to RM25.3 billion, with the sales value per employee standing at RM199,108, a 2.9 per cent growth. - Bernama
Los Angeles Times
03-04-2025
- Sport
- Los Angeles Times
Jack's Surfboards Pro surfing event returns this weekend in Huntington Beach
April brings a fresh start to aspiring Championship Tour professional surfers. The first event of the 2025-26 World Surf League Qualifying Series season, the Vans Jack's Surfboards Pro presented by 805, launches Thursday morning on the south side of the Huntington Beach Pier. The Jack's Surfboards Pro started in 2017 as a men's QS 1,000 event, and is now a QS 4,000 event for both genders as part of a new points system put in place by the league this year. Past champions of the event include 2024 Championship Tour Rookies of the Year Sawyer Lindblad and Crosby Colapinto, both of whom call San Clemente home. 'We're thrilled to kick off the 2025-26 season with the Jack's Pro, and even more excited to host it right here in our hometown of Huntington Beach,' Jack's Surfboards co-owner Jamal Abdelmuti said in a news release. 'It's a fantastic opportunity to support the young, up-and-coming surfers from our region. This year marks our eighth edition of the Jacks Pro, and thanks to our incredible partners in the surf industry, the event continues to grow and evolve.' Lucca Mesinas of Peru won the men's Jack's Surfboards Pro last year and is back to defend his title. Kirra Pinkerton of San Clemente was last year's women's champion. Mesinas, a former Championship Tour competitor, won four times on the North American QS during the 2024-25 season en route to his second QS regional title. Huntington Beach High senior Sara Freyre is also confirmed for this year's Jack's Surfboards Pro. Freyre, who has been a U.S. Open of Surfing wild-card participant and competed on the USA Surfing Junior National Team, also seeks to begin the season with a good result. 'It's so exciting to kick off a fresh season at home at the Jack's Surfboards Pro!' Freyre said to 'This is always one of my favorite events of the year because it's right at my home break. It is so fun because my friends and family come down and support me. I am so grateful they put this event on and give this opportunity, especially now that it is a QS 4,000. This year I am going to take it one event at a time and focus on giving it my all.' The Jack's Surfboards Pro runs through Sunday at the south side of the pier, and admission is free. A live webcast will be shown at the WSL app and YouTube channel.
Globe and Mail
01-03-2025
- Business
- Globe and Mail
Short Sellers and Analysts Are Waging a War Over This ‘Strong Buy' AI Stock. Should You Buy or Sell Shares Now?
Valued at a market capitalization of $112 billion, AppLovin (APP) is a mobile technology company that helps businesses grow their customer base. Its services include mobile advertising, data analytics, and marketing. The tech stock went public in April 2021 and has since returned close to 400%, crushing broader market returns comfortably. However, it also trades 37% below its all-time highs due to broader market weakness and a couple of short-seller reports. On Wednesday, Feb. 26, AppLovin stock fell by 12% after two short-seller reports questioned the legitimacy of its AI-powered AXON advertising software, which helped make it the top-performing tech stock of 2024. Fuzzy Panda called AXON 'the nexus of a House of Cards' built on fraudulent advertising tactics, claiming AppLovin is stealing data from Meta (META) and exploiting consumers and their data in violation of Google (GOOG) (GOOGL) and Apple (AAPL) App Store policies. Culper Research alleged that AppLovin's gaming success stems from 'systematic exploitation of app permissions' to 'force-feed silent, backdoor app installations.' Meanwhile, AppLovin called the reports 'littered with inaccuracies' and suggested they were timed to prevent the company from responding with financial performance data. AppLovin Continues to Grow Rapidly AppLovin announced a strategic pivot to become a pure advertising platform during its Q4 earnings call, revealing plans to divest its entire Apps business for approximately $900 million. CEO Adam Foroughi described the quarter as 'our most foundational period since the AXON upgrade in 2023,' highlighting the company's successful expansion beyond gaming advertisements. AppLovin reported impressive Q4 results, with total revenue increasing 44% year-over-year to $1.37 billion and adjusted EBITDA growing 78% to $848 million. The Advertising segment generated $999 million in revenue with a 78% adjusted EBITDA margin, while free cash flow reached $695 million, up 105% from the previous year. AppLovin's platform reaches over 1 billion people daily through mobile games, with engagement times comparable to social networks. What's Next for the Tech Stock? AppLovin expects advertising revenue in Q1 to range between $1.03 billion and $1.05 billion, with adjusted EBITDA between $805 million and $825 million. Its management highlighted 'adjusted EBITDA per employee' as a key metric going forward, reporting approximately $3 million per employee in Q4 for the Advertising business. The strategic shift positions AppLovin to compete more broadly in the global advertising economy. Foroughi expresses confidence that the company is 'building a platform with the potential to transform global marketing.' Wall Street expects AppLovin to increase sales from $4.70 billion in 2024 to $5.8 billion in 2025. Comparatively, adjusted earnings per share are forecast to expand from $4.53 per share in 2024 to $6.56 per share in 2025. Its free cash flow is expected to grow from $2.1 billion in 2024 to $2.9 billion in 2025. So, APP stock might seem expensive, priced at 49x forward earnings and 38.6x forward FCF. However, its lofty valuation is supported by strong growth estimates. Of the 19 analysts covering AppLovin stock, 15 recommend 'Strong Buy' and four recommend 'Hold.' The average target price for APP stock is $501.37, indicating upside potential of 55% from current levels. On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
Yahoo
19-02-2025
- Yahoo
Child sexual abuse materials, drug trafficking and firearms arrests in Scranton
SCRANTON — Two Scranton men are facing felony charges following a Feb. 6 search of their residence, according to Lackawanna County District Attorney Brian Gallagher. Lawrence Ortiz Sr., 42, of 805 Columbia St.. is charged with illegal possession a firearm, possession with intent to deliver narcotics and other offenses. Lawrence Ortiz Jr. 19, at the same address, is charged with possession and dissemination of child sexual abuse materials and other offenses. According to a criminal complaint: On Feb. 6, members of the Northeast Pennsylvania Computer Crimes Task Force, Scranton Police Street Crimes Unit and Lackawanna County detectives served a search warrant on the residence following a tip from the National Center for Missing and Exploited Children that someone from the address was uploading child sexual abuse materials to Snapchat and KIK. Investigators entered the residence and encountered Ortiz Sr. coming out of a bedroom where three handguns were later found. Officers noted Ortiz Sr. is prohibited from owning a firearm due to a 2017 felony drug conviction. Investigators also spoke with Ortiz Jr., who admitted that the Snapchat and KIK accounts belonged to him, and he had uploaded sexual child abuse material in order to sell it to an unnamed man in New York. Ortiz Jr. told investigators he forwarded the images to the unnamed man, but hadn't received money from him as promised. During a subsequent search, investigators found three handguns including a 'ghost gun,' multiple boxes of ammunition, quantities of heroin, cocaine and fentanyl, packaging material and electronic devices used to download child sexual abuse material. 'This case exemplifies law enforcement's commitment to collaborate and aggressively investigate and prosecute individuals who exploit children, traffic deadly narcotics, and possess illegal firearms,' Gallagher said. 'We remain steadfast in our mission to make the streets of Lackawanna County safer.' Ortiz Sr. remains at Lackawanna County Prison in lieu of $150,000 bail. Ortiz Jr. remains at the prison in lieu of $20,000 bail. Ortiz Sr.'s hearing is scheduled for 9 a.m. on Feb. 20 before District Judge Laura Turlip. Ortiz Jr.'s hearing was Feb. 18 before Turlip; the case was transferred to the Court of Common Pleas.
