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Amazon’s stock is about to get much, much cheaper

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Amazon’s stock is about to get much, much cheaper

The corporate introduced Wednesday its board authorized a 20-for-1 inventory cut up, its first cut up since 1999. If authorized by shareholders in Might, the cut up will go into impact June 6.
Amazon closed Wednesday at $2,785 per share. If the inventory cut up have been to occur at present, Amazon’s inventory could be value $139 a share.

Don’t be concerned, Amazon stockholders (which is just about everybody with a retirement account, as of late) — your stakes will nonetheless be value the identical. You will be holding 20 occasions extra shares when all is alleged and carried out.

Firms cut up their shares for quite a few causes: Splits can put their inventory inside the attain of smaller, particular person buyers. It helps corporations achieve liquidity and splits can create extra demand for a corporation’s inventory.

Though deep-pocketed institutional buyers do not care in regards to the firm’s total inventory value, particular person buyers is likely to be turned off by high-priced shares. The expansion of zero-fee buying and selling apps, together with Robinhood, E-Commerce and others, have made inventory splits far more necessary in recent times.

Amazon’s transfer may be aimed to get it included within the famed Dow Jones Industrial Common, which tends to incorporate cheaper shares. Apple (AAPL), for instance, introduced a 7-for-1 inventory cut up in 2014 and obtained included within the Dow in 2015. Amazon’s cut up isn’t any assure that will probably be included within the Dow, however the index might want the world’s most dear retailer, which can be a serious cloud supplier and media large.

“This cut up would give our staff extra flexibility in how they handle their fairness in Amazon and make the share value extra accessible for folks trying to put money into the corporate,” Amazon mentioned in a press release.

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In case potential shareholders weren’t satisfied, the corporate threw in one other incentive to purchase: a repurchasing program for $10 billion of its inventory. That may assist inflate the worth of an organization’s shares by successfully pulling the availability of inventory out of the market.

Shares of Amazon (AMZN) rose 8% in prolonged buying and selling.
Main firm inventory splits have develop into very in vogue in recent times. Apple and Tesla introduced splits in 2020. However one firm with an alarmingly excessive inventory value has by no means cut up and mentioned it by no means would: Berkshire Hathaway (BRKA).

At $488,245 a share, Berkshire shares are unapproachable for many particular person buyers. That is why it presents its B-class shares, which have cut up prior to now, for $325.

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Brazilian president Lula in intensive care after brain surgery

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Brazilian president Lula in intensive care after brain surgery

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Brazilian President Luiz Inácio Lula da Silva is in intensive care after brain surgery and is recovering “well”, the government announced on Tuesday.

The 79 year old, commonly referred to as Lula, underwent a craniotomy procedure to drain a haematoma on his head after an MRI scan showed an “intracranial haemorrhage”, according to a medical note shared by the government.

The injury related to a fall at home on October 19 and Lula had been suffering headaches, the note said.

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The surgery was “uneventful”, the note added, and Lula was being monitored in intensive care at the Sírio-Libanês hospital in São Paulo. Doctors will hold a press conference at 9am local time on Tuesday. 

Lula cancelled his attendance at the Brics summit in Russia in October, citing health reasons. His surgery comes at a challenging moment for his presidency after he returned to power for a third term last year, with a pledge to lift welfare spending and expand the role of the state.

His administration has sought to reassure investors over his plans by promising to eliminate Brazil’s so-called primary budget deficit, which does not include debt interest payments. However, it has already watered down its own targets for achieving a surplus from next year onwards.

The Brazilian real hit an all-time low last month, falling below six to the US dollar, because of mounting concerns over the country’s public finances. On Tuesday it was flat in early trading at 6.08 per US dollar.

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Luigi Mangione, alleged UnitedHealthcare CEO killer, charged with murder in New York

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Luigi Mangione, alleged UnitedHealthcare CEO killer, charged with murder in New York

Prosecutors in New York City charged accused UnitedHealthcare CEO killer Luigi Mangione with murder late Monday night, according to online court records.

The 26-year-old was also charged with criminal possession of a weapon (loaded firearm), possession of a forged instrument and criminal possession of a weapon (firearm silencer) in the brazen Dec. 4 shooting death of Brian Thompson.

Thompson, 50, was shot from behind on the sidewalk outside a NYC Hilton hotel before a shareholder conference. He was appointed the CEO of the company in April 2021.

Mangione was arrested in Altoona, Pennsylvania, on Monday after a five-day nationwide manhunt for Thompson’s killer.

UNITEDHEALTHCARE CEO MURDER SUSPECT ARRESTED AT PENNSYLVANIA MCDONALD’S

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A still image from video shows Luigi Mangione, 26, being taken into a Pennsylvania courthouse Monday evening after being questioned in connection with the murder of UnitedHealthcare CEO Brian Thompson. (Fox News)

Rookie Altoona police officer Tyler Frye took Mangione into custody after an employee and a customer at a McDonald’s in the town thought he looked like the suspect on a wanted poster and called authorities.

When officers approached Mangione, who was wearing a mask and a beanie and working on a laptop in the back of the restaurant, and asked him to remove his face covering, they recognized him as the suspect wanted for questioning in Thompson’s murder.

During that encounter, he allegedly handed over a fake ID, gave a phony name, and “became quiet and started to shake” when asked if he’d recently been to New York.

He was also allegedly in possession of writings criticizing the healthcare industry and a ghost gun similar to the one believed to have been used to kill Thompson.

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Luigi Mangione UHC shooter suspect split image

Luigi Mangione was charged with multiple crimes, including first-degree murder, in New York City late Monday night in connection with the shooting death of UnitedHealthcare CEO Brian Thompson.

Altoona police initially took Mangione into custody on charges unrelated to Thompson’s murder – possession of an unlicensed firearm, providing false identification to police and forgery.

WHO IS LUIGI MANGIONE, SUSPECT IN UNITEDHEALTHCARE CEO MURDER? 

Mangione graduated top of his class from the elite Gilman School in Baltimore, and even delivered the commencement speech at his 2016 graduation, according to video of the ceremony.

“He seemed like a smart kid, he was always doing the right thing, it seemed like,” a former classmate, who was shocked by the arrest, told Fox News Digital Monday. “Wasn’t crazy.”

He then graduated from the University of Pennsylvania with a bachelor’s and master’s degree in engineering and was part of the Eta Kappa Nu Honor Society for Electrical and Computer Engineering.

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A photo obtained by Fox News Digital shows Luigi Mangione.

A photo obtained by Fox News Digital shows Luigi Mangione, the accused killer of UnitedHealthcare CEO Brian Thompson. (Obtained by Fox News Digital)

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Mangione is expected to be extradited to New York as early as Tuesday.

Fox News Digital’s Michael Ruiz and Brooke Curto contributed to this report.

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Map: 5.8-Magnitude Earthquake Strikes Nevada

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Map: 5.8-Magnitude Earthquake Strikes Nevada

Note: Map shows the area with a shake intensity of 3 or greater, which U.S.G.S. defines as “weak,” though the earthquake may be felt outside the areas shown. The New York Times

A moderately strong, 5.8-magnitude earthquake struck in Nevada on Monday, according to the United States Geological Survey.

The temblor happened at 3:08 p.m. Pacific time about 15 miles northeast of Yerington, Nev., data from the agency shows.

U.S.G.S. data earlier reported that the magnitude was 5.7.

As seismologists review available data, they may revise the earthquake’s reported magnitude. Additional information collected about the earthquake may also prompt U.S.G.S. scientists to update the shake-severity map.

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Aftershocks in the region

An aftershock is usually a smaller earthquake that follows a larger one in the same general area. Aftershocks are typically minor adjustments along the portion of a fault that slipped at the time of the initial earthquake.

Quakes and aftershocks within 100 miles

Aftershocks can occur days, weeks or even years after the first earthquake. These events can be of equal or larger magnitude to the initial earthquake, and they can continue to affect already damaged locations.

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Source: United States Geological Survey | Notes: Shaking categories are based on the Modified Mercalli Intensity scale. When aftershock data is available, the corresponding maps and charts include earthquakes within 100 miles and seven days of the initial quake. All times above are Pacific time. Shake data is as of Monday, Dec. 9 at 7:46 p.m. Eastern. Aftershocks data is as of Monday, Dec. 9 at 10:08 p.m. Eastern.

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