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TransDigm: Fiscal Q2 Earnings Snapshot

Published Sat, 22 Feb 2025 10:57:50 GMT

CLEVELAND (AP) — CLEVELAND (AP) — TransDigm Group Inc. (TDG) on Tuesday reported fiscal second-quarter net income of $304 million.The Cleveland-based company said it had net income of $5.32 per share. Earnings, adjusted for one-time gains and costs, came to $5.98 per share.The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $5.46 per share.The aircraft components maker posted revenue of $1.59 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.5 billion.TransDigm expects full-year earnings in the range of $23.31 to $24.19 per share, with revenue in the range of $6.41 billion to $6.5 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TDG at https://www.zacks.com/ap/TDGSource

Police believe deadly Tesla shooting began as a road rage

Published Sat, 22 Feb 2025 10:57:50 GMT

DENVER (KDVR) — The argument between two Tesla drivers that ended with one being shot and killed may have begun as a road rage incident.Police in Edgewater are now asking for any witnesses who may have seen a possible road rage incident between the two drivers to come forward.The deadly shooting took place at the Tesla charging station at the Edgewater Public Market, located at West 20th Avenue and Depew Street, on May 3. Investigators believe the two Tesla drivers got into an argument and one was fatally shot.    The alleged shooter drove away at first, but he later contacted police and turned himself in. So far, he has not been arrested or charged. Colorado passes property tax bill Now, police are asking anyone who witnessed any sort of road rage incident between a red Tesla and a silver Tesla, both sedans, to contact them.       Investigators believe the incident may have occurred around 9:40 a.m. on May 3 along Sheridan Boulevard from West 6th Avenue to Interstate 70, or somew...

FTX founder Sam Bankman-Fried seeks dismissal of indictment

Published Sat, 22 Feb 2025 10:57:50 GMT

NEW YORK (AP) — FTX founder Sam Bankman-Fried sought a dismissal of criminal charges against him in a court filing late Monday, saying prosecutors have improperly made federal crimes out of civil and regulatory issues that resulted from an industrywide collapse of cryptocurrency markets dubbed the “crypto winter.”Lawyers for the onetime head of a multibillion dollar cryptocurrency exchange said in papers in Manhattan federal court that the U.S. government had a “dramatic — and troubling” response to a broad market crash in cryptocurrency last year that affected every corner of the market.They said Bankman-Fried’s non-U.S. FTX company lasted far longer than others in the industry before it entered bankruptcy in November when the global exchange ran out of money after the equivalent of a bank run. A trial is tentatively set for the fall.Prosecutors alleged in December that Bankman-Fried cheated investors and looted customer deposits on FTX to make lavish real estate purchases, donate ...

Wagner chief to Putin: Don’t trust your top generals

Published Sat, 22 Feb 2025 10:57:50 GMT

Wagner chief Yevgeny Prigozhin on Tuesday questioned the Russian state’s ability to protect the country from a Ukrainian counteroffensive, amid an escalating rift between the paramilitary group and the Kremlin’s security establishment.The Russian state is “unable to defend the country,” Prigozhin said in a video posted on Telegram, adding that Russian generals were trying to “deceive” Putin.“Today one of the units of the defense ministry ran away from one of our flanks … exposing the front,” the head of Wagner said, arguing the event should be recognized as “treason against the motherland.”In the latest episode of an ongoing quarrel with Moscow’s military leaders, including Russian Defense Minister Sergei Shoigu and Chief of the General Staff of the Russian Armed Forces Valery Gerasimov, Prigozhin also repeated a pledge to pull out Wagner troops from the battlefield if they did not receive enough ammunition from...

Olaf Scholz calls for migration deal as EU lawmakers take German leadership to task

Published Sat, 22 Feb 2025 10:57:50 GMT

German Chancellor Olaf Scholz on Tuesday urged EU partners to work “with all our strength” on completing a reform of the bloc’s migration rules before next year’s European election, while also calling for a swift conclusion of new trade deals.Speaking at the European Parliament in Strasbourg on the occasion of Europe Day on May 9, Scholz lauded a recent agreement that lawmakers had reached, which revises the EU’s asylum and migration pact. He “urgently” advocated that all EU institutions now reach a joint agreement before the European Parliament’s election in spring next year. This would also open up economic opportunities for EU countries, Germany’s chancellor added.“We can take advantage of one thing even more than before: In many parts of Europe, we now urgently need workers, also from third countries,” Scholz said. Scholz’s remarks come against the backdrop of a growing influx of irregular migrants into the ...

Demolition to begin at site of Newburyport chemical plant explosion

Published Sat, 22 Feb 2025 10:57:50 GMT

Crews are expected to demolish part of a chemical plant in Newburyport that exploded last week, killing one person, officials said on Monday. Emergency crews were first called to the Seqens plant on Opportunity Way around 12:45 a.m. Thursday, where officials said firefighters spent roughly one hour battling heavy fire conditions after the blast. Five workers were in the building at the time of the explosion. Of them, four were taken to a local hospital and released after treatment, according to local officials. The body of the fifth worker, identified as 62-year-old Jack O’Keefe, was found hours later.Surveillance video from nearby cameras captured the explosion, showing a massive, bright fireball that launched flames and debris high into the air. SKY7-HD later flew over the scene, revealing a torn apart complex with pieces of roof materiel, pipes and metal scraps piled on one another.RELATED: OSHA cited company for violations before Newburyport explosion, officials sayCrews ha...

Iconic Christmas Tree Shops store at Sagamore Bridge to close as part of bankruptcy filings

Published Sat, 22 Feb 2025 10:57:50 GMT

The iconic Christmas Tree Shops store at the Sagamore Bridge on Route 6 will close as part of bankruptcy filings.The store, known for its windmill out front, is one of two Massachusetts locations that will close, including the Falmouth store. The Middleborough-based company filed for Chapter 11 on Friday. The company started as a holiday shop on Cape Cod in the 1950s. At the time of its filing, Christmas Tree Shops had 82 locations nationwide.

Seven people remain hospitalized after fatal crash outside Texas migrant shelter

Published Sat, 22 Feb 2025 10:57:50 GMT

(CNN) — Seven people remain hospitalized in Brownsville, Texas, as a candlelight vigil is planned Tuesday in another Texas border town for the eight others who were killed when a vehicle plowed into a group of people at a bus stop over the weekend.While the victims have not yet been publicly identified, authorities say several immigrants were among those killed when a Land Rover hit the group in Brownsville on Sunday, across the street from the Bishop Enrique San Pedro Ozanam Center, a non-profit homeless shelter helping to house migrants in the border town, authorities say.The director of the Ozanam Center, Victor Maldonado, described those killed and injured as asylum seekers.“They came seeking refuge. They were staying at our shelter because they arrived in this country with very little,” he said.During the Tuesday evening vigil in El Paso, advocates and community members are expected to mourn the lives lost and call “for the humanization of...

Luis Severino hopes to spend ‘rest of my life’ with Yankees despite rehab frustrations

Published Sat, 22 Feb 2025 10:57:50 GMT

Luis Severino has never been shy about how he feels.The Yankees’ oft-injured starter often mixes a direct approach and dry sense of humor when answering questions, especially when they’re about his rehab timelines. That blunt honesty makes Severino a strong quote — and believable when he states that he wants to spend his entire career in pinstripes.“This is the only team that I know,” Severino, an impending free agent, told the Daily News. “I would love to be here the rest of my life.”The right-hander said that Monday, a day after he expressed frustration over how, in his opinion, the Yankees have slow-played his recovery from a low-grade lat strain suffered at the end of spring training. He hoped the injury would only cause him to miss three or four starts.On Sunday, Severino said it was “unnecessary” for him to throw a simulated game last Friday before beginning a rehab assignment this week, and he made several one-liners that ...

Myanmar violence, sea feud are tough challenges for ASEAN

Published Sat, 22 Feb 2025 10:57:50 GMT

LABUAN BAJO, Indonesia (AP) — Alarm over Myanmar’s still-unfolding deadly civil strife, including an armed attack on an aid convoy, and China’s aggressive actions in the disputed South China Sea are expected to challenge Southeast Asian leaders’ commitments to non-interference and consensus decision-making as they meet in Indonesia this week.Top diplomats of the Association of Southeast Asian Nations convened Tuesday in the resort town of Labuan Bajo to finalize the agenda ahead of the two-day summit of the 10-nation bloc’s heads of state.The United States and China are not part of the twice-yearly summit, but their escalating rivalry looms large over the high-profile Asian gathering. Beijing has warned that U.S. efforts to strengthen security alliances and intensify combat-readiness drills with Asian allies would endanger regional stability.Founded during the Cold War in 1967, ASEAN has avoided getting entangled in major-power competition as a bloc. But its diverse members ar...