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USA Today
7 days ago
- General
- USA Today
Suspect charged with murder in California shooting that killed 2, including police officer
Suspect charged with murder in California shooting that killed 2, including police officer Show Caption Hide Caption What to know about the growing threat of gun violence Find out about the growing problem of gun violence and mass killings in the USA and learn how the Gun Violence Archive (GVA) categorizes different types of gun violence. A man has been charged in connection with the shootings that killed a Southern California police officer and another man, and wounded a second officer over the weekend, prosecutors said. Eduardo Roberto Medina-Berumen, 22, was charged on June 3 with two counts of murder with special circumstances for the death of Baldwin Park Police Officer Samuel Riveros and Darius Wong, a 43-year-old father of two from Hacienda Heights, authorities said. Medina-Berumen was also charged with two counts of attempted murder and one count of possession of an assault weapon. Medina-Berumen faces death or life in state prison without the possibility of parole if he is convicted on all charges, according to the Los Angeles County District Attorney's Office. District Attorney Nathan Hochman said his office will decide on a later date whether to pursue the death penalty. Authorities accused Medina-Berumen of opening fire at Riveros on the night of May 31 after officers responded to a call of shots fired in a neighborhood in Baldwin Park, a city located about 20 miles east of downtown Los Angeles. The district attorney's office alleged that Medina-Berumen also shot and killed Wong, who had just parked his car. "The filing of charges in the tragic murders of Officer Samuel Riveros and an innocent victim brings us one step closer to justice," Los Angeles County Sheriff Robert Luna said in a statement. "This cowardly and unprovoked act of violence against a brave and dedicated public servant is absolutely unacceptable. We stand in solidarity with the family of Officer Riveros, the Baldwin Park Police Department and the entire law enforcement community as we mourn." The case remains under investigation by the Los Angeles County Sheriff's Department. Colorado attack: Boulder attack suspect's wife, 5 children detained by ICE, face deportation: Live updates What happened in the Baldwin Park shooting? At a June 3 news conference announcing the charges, Luna said the Baldwin Police Department received a report at about 7:12 p.m. local time of a man armed with a rifle who had opened fire on the 4200 block of Filhurst Avenue. The report was updated as officers arrived at the scene, stating that an unresponsive person was lying on the sidewalk, according to Luna. The person was "ultimately, unfortunately" identified as Wong, who sustained fatal gunshot wounds, Luna said. Wong had parked his car on the street after dropping off his two daughters, wife, and sister-in-law at a party in the area, according to a GoFundMe page created to help cover funeral costs and family expenses. Officers Anthony Pimentel and Alfredo Leal were the first to arrive at the scene and were immediately fired upon by Medina-Berumen, according to Luna. The sheriff said investigators believe Pimentel was injured by glass shards after a bullet hit his patrol vehicle's window. Riveros arrived shortly after and was struck and killed by the suspect's gunfire, according to Luna. Additional officers responded to the scene, and a second officer-involved shooting occurred with the suspect. "(Riveros) was entering an open shooting environment when he decided to put the safety of his community ahead of his own safety," Hochman said during the news conference. "When the bullets were flying, he ran into those bullets to try and keep his community safe, and in doing so, he made the ultimate sacrifice of his life." Luna said Medina-Berumen sustained gunshot wounds in the shooting and was transported to a local hospital for medical treatment. As of June 3, he remained hospitalized in stable condition. An AR-15-style weapon with two high-capacity magazines was recovered at the scene, according to Luna. Hochman said about 40 to 60 expended casings were also discovered at the scene. Why is it so hard to find him? 'Devil in the Ozarks' killer remains a fugitive. Victims remembered by the Los Angeles community Tributes poured in over the weekend as local officials and community members across Los Angeles County mourned the loss of Riveros and Wong. Riveros, 35, was from Pasadena and earned a degree in criminology, law, and society from the University of California, Irvine, according to a news release from Los Angeles County Supervisor Hilda Solis. He also played lacrosse and mentored youth through the Criminology Outreach Program at the school. Riveros joined the Baldwin Park Police Department in 2016, later served on the SWAT team, and then became a field training officer in 2024, according to the news release. The news release states that Riveros was known for his "energy, leadership, and dedication to public service." He was a "devoted Dodgers fan and an avid snowboarder," according to the news release. Riveros is survived by his mother and sister. Solis said she requested that all county flags be lowered to half-staff at county facilities until the end of the day of Riveros' scheduled funeral service. Local television station KTLA reported that a procession led by 27 motorcycle officers was held on June 3 in honor of Riveros. "Yesterday, I visited Baldwin Park, where a growing community memorial now honors Officer Riveros. Surrounded by candles, flowers, and handwritten messages, I witnessed the deep grief and respect shared by residents for a man who gave his life in service to their safety," Solis said in a statement on June 3. "My thoughts remain with his family, fellow officers and loved ones during this incredibly difficult time. His loss is deeply felt not just by his family and colleagues, but by the entire Baldwin Park community." According to the GoFundMe page created by Wong's brother, Wong was described as a "kind soul" and a "hardworking man who cared deeply for his family." Wong leaves behind a wife and two daughters, ages 3 and 5, the page states. "His passion for helping others extended beyond his own family," the page states. "He dedicated himself to show up to work everyday at Choc Orange Hospital."
India Gazette
03-06-2025
- Business
- India Gazette
India's annual GDP growth slows to 6.5%, lowest in four years
NEW DELHI, India: India's economy hit a four-year low of 6.5 percent, lifted by an impressive fourth-quarter growth at 7.4 percent. The Reserve Bank of India had projected 6.5 percent GDP growth for the fiscal year 2024-2025. In 2023-2024, India's GDP grew by an impressive 9.2 percent, continuing to be the fastest-growing major economy. According to official data, the economy grew 8.7 percent and 7.2 percent, respectively, in 2021-2022 and 2022-2023. In a March 2025 report, the Ministry of Finance anticipated that the Indian economy would achieve a growth rate of 6.5 percent in 2024-2025 despite considerable external headwinds. India's economy grew faster in the January–March period, helped by stronger demand in villages and more government spending. However, private companies held off on new investments because of global uncertainty. Earlier, economists in a Reuters poll expected India's GDP to have grown 6.7 percent compared to the same time last year. This is higher than the 6.2 percent growth in the previous three months. Gaura Sen Gupta, chief economist at IDFC First Bank, said rural spending improved, but urban demand showed mixed signs. She also said government spending helped support investment. GDP includes taxes and subsidies, which can change a lot. GVA removes those to give a clearer picture. JP Morgan expected GDP to grow 7.5 percent in the March quarter, but GVA will grow 6.7 percent, up from 6.2 percent in the quarter before. India's central bank expected GDP to grow 6.5 percent in the new financial year that started on April 1. At this pace, India would remain the fastest-growing major economy and could reach the size of Japan's economy this year, around $4.18 trillion, according to the IMF. Even though the global economy is facing problems like trade tensions, India seems less affected. This is because it doesn't rely as much on international trade, and the government has cut taxes and kept interest rates low. Kaushik Das of Deutsche Bank said that both the government and the central bank are working closely to support growth and are ready to take decisive action if needed. Retail inflation fell to 3.16 percent in April, the lowest in nearly six years. With a good monsoon expected, food prices should stay stable. This could lead the central bank to cut interest rates again in June. The finance ministry said that tax cuts, recent government measures, and expected central bank rate cuts could help the economy grow by 6.3 percent to 6.8 percent this year.
Times of Oman
25-05-2025
- Business
- Times of Oman
India's Q4 FY25 GDP growth likely to accelerate to 7.0%: UBI report
New Delhi: The growth rate of the Indian economy in the fourth quarter of the financial year 2025 will clock 7.0 per cent, with an uptick from the third quarter (Q3 FY25) of 6.2 per cent, according to a report by Union Bank of India (UBI). As per the UBI report, the revised estimate for full-year FY25 growth is likely to be lowered to 6.3 per cent from 6.5 per cent previously. Gross Value Added (GVA) growth for Q4 FY25 is likely to improve to 6.7 per cent from 6.2 per cent in Q3 FY25, the report added. The report added that high-frequency indicators present a mixed trend, though the economic activity index indicates a slight upward bias. "Our heatmap of high-frequency indicators shows a mixed picture even as our economic activity index signalled a mild upward bias. The latter tracks well with GVA ex agri & government, a metric of private sector activity, and hence we see it showing a pickup to 6.8 per cent in Q4 from 5.9 per cent in Q3 FY25," the report added. Citing the RBI Bulletin, the report says that indicators signal a sequential improvement in economic momentum during the second half of FY25, with this trend expected to continue. The RBI's GDP nowcast projects Q4 FY25 growth at 6.6 per cent. Factors such as a possible revival in rural demand, continued government spending, and large-scale religious events like the Mahakumbh are likely supporting this recovery. "Apart from a likely revival in rural demand and a sustained pickup in government spending, other factors like the organisation of mass religious gatherings via the Mahakumbh (Rs 2 to 3 lakh Cr nominal growth impact as per media reports) may have played a key role in supporting growth recovery," the report added.
Yahoo
23-05-2025
- Business
- Yahoo
Granite announces $26M San Francisco International Airport project
Granite (GVA) has been awarded an approximately $26 million contract by the San Francisco International Airport (SFO) to upgrade Taxiway Z and a portion of Taxiway S at SFO in San Francisco, California. Project funding is to come from SFO and will be included in Granite's second-quarter CAP. This project will rehabilitate the taxiways to ensure the continued safety and efficiency of aircraft operations. Taxiway Z serves as a primary corridor for aircraft movement between the terminals, airline maintenance, and cargo facilities. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on GVA: Disclaimer & DisclosureReport an Issue Granite awarded first phase of CMGC contract in Alaska for $54M Granite COO James Radich announces planned retirement date Granite Construction Announces COO Retirement Granite announces retirement of COO James Radich, effective July 4 Granite Construction Sees Revenue Growth Amid Net Loss Sign in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
GVA Q1 Earnings Call: Margin Gains and Portfolio Shifts Offset Revenue Miss
Construction and construction materials company Granite Construction (NYSE:GVA) missed Wall Street's revenue expectations in Q1 CY2025 as sales rose 4.1% year on year to $699.5 million. On the other hand, the company's outlook for the full year was close to analysts' estimates with revenue guided to $4.3 billion at the midpoint. Its non-GAAP profit of $0.01 per share was significantly above analysts' consensus estimates. Is now the time to buy GVA? Find out in our full research report (it's free). Revenue: $699.5 million vs analyst estimates of $705.9 million (4.1% year-on-year growth, 0.9% miss) Adjusted EPS: $0.01 vs analyst estimates of -$0.46 (significant beat) Adjusted EBITDA: $28.07 million vs analyst estimates of $12.05 million (4% margin, significant beat) The company reconfirmed its revenue guidance for the full year of $4.3 billion at the midpoint Operating Margin: -5.7%, in line with the same quarter last year Free Cash Flow was -$28.56 million compared to -$3.8 million in the same quarter last year Market Capitalization: $3.76 billion Granite Construction's first quarter results reflected a blend of margin improvement and continued project portfolio transformation, with management attributing the quarter's performance to improved project execution and a focus on higher-quality work. CEO Kyle Larkin noted that adverse weather slowed some activity in March, yet the company achieved higher construction segment margins and grew its backlog (CAP), supported by federal infrastructure funding and strong bidding momentum. Management also highlighted progress in its Materials segment, emphasizing investments in automation and plant upgrades as key contributors to profit gains and operational resilience. Looking forward, management reaffirmed its full-year outlook, underpinned by expectations for a robust public sector pipeline and a healthy mix of upcoming projects. Larkin pointed to ongoing support from the Infrastructure Investment and Jobs Act (IIJA), suggesting that 'opportunities funded by the bill continue to increase because of the timing delay between allocations to states and funding for specific projects.' While management acknowledged uncertainties around tariffs and equipment costs, they expressed confidence in their ability to mitigate these headwinds and sustain growth through a disciplined approach to bidding, risk management, and targeted M&A. Granite Construction's management focused on strategic execution improvements and investments in core capabilities as key drivers of the quarter's performance and margin gains. Construction margin execution: Improved project execution and a higher-quality backlog drove margin expansion in the Construction segment, despite weather-related disruptions in Western markets. Management cited better bidding discipline and a deliberate shift away from long-term, high-risk projects. Materials segment transformation: Significant investments in Materials, including automation and new plant additions, led to higher aggregate prices and improved cash gross profit margins. Management realigned operational leadership and centralized functions to enhance efficiency and profitability. Federal infrastructure funding impact: The company's backlog benefited from public sector demand, particularly from the IIJA. Management expects these funding sources to support project opportunities and backlog growth beyond 2026, due to delays between allocations and project starts. M&A and vertical integration: Granite is prioritizing acquisitions of materials-focused, vertically integrated companies to reinforce its home markets. Management stated the target of completing two to three deals in 2025 remains unchanged, with integration of recent Southeast acquisitions progressing well. Tariff and cost management: While tariffs and equipment cost inflation remain risks, management reported limited direct impact so far. The company is taking proactive measures, such as early capital expenditure approvals and commodity price hedging, to mitigate potential cost increases. Management's outlook for the remainder of the year is anchored by anticipated public infrastructure investment, targeted Materials segment growth, and ongoing margin improvement initiatives. Public infrastructure project pipeline: Continued federal and state infrastructure funding is expected to drive demand for both Construction and Materials segments, with management citing bipartisan support for future legislation beyond current bills. Margin expansion through execution: The company aims to further improve construction margins through disciplined project selection and operational enhancements. Materials segment profit growth is expected from price increases and process automation. M&A as a growth lever: Accretive acquisitions, especially in materials and vertically integrated businesses, are viewed as key to expanding market presence and supporting long-term revenue and margin growth. Brent Thielman (D.A. Davidson): Asked about the active bidding environment and the sustainability of backlog growth; management highlighted strong public sector demand and ongoing success in capturing higher-margin work. Brent Thielman (D.A. Davidson): Inquired about drivers of improved construction margins despite limited segment growth; CEO Larkin attributed gains to project execution and a shift toward less risky projects. Steven Ramsey (Thompson Research Group): Questioned the mix of project types in the backlog and the implications for business risk; management explained the benefits of a healthy mix between short-cycle and multi-year projects. Steven Ramsey (Thompson Research Group): Asked about Materials segment revenue as a percentage of total sales and expectations for future growth; management expects the Materials business to comprise a growing share of overall revenue due to ongoing investment. Jerry Revich (Goldman Sachs): Sought clarity on cash gross profit margin improvement in Materials and peer comparisons; management pointed to geography, product mix, and pricing discipline as key factors, with further margin expansion targeted in 2025. In upcoming quarters, the StockStory team will focus on (1) tracking margin trends in both Construction and Materials segments as project execution and price initiatives take hold, (2) monitoring progress on targeted M&A, particularly any materials-focused acquisitions that could reshape the business mix, and (3) assessing the impact of public infrastructure funding, including the timing and flow of IIJA-related projects. Any changes in tariff exposure or significant weather disruptions will also be key factors influencing Granite Construction's operational and financial trajectory. Granite Construction currently trades at a forward EV-to-EBITDA ratio of 8×. Is the company at an inflection point that warrants a buy or sell? Find out in our free research report. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. 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