Stock Markets
At Trump trial, prosecutors say gag order violations could mean fines, jail
By Luc Cohen and Jack Queen
NEW YORK (Reuters) -New York prosecutors asked a judge at the start of Donald Trump’s criminal hush money trial on Monday to fine him and remind him he could go to jail for violating a gag order that bars him from interfering with potential witnesses.
Justice Juan Merchan set April 24 for a hearing on the request for fines and gave Trump’s lawyers until this Friday to submit a written response.
The trial, the first of a former U.S. president, stems from a 2016 hush-money payment to porn star Stormy Daniels. With Trump seated at the defense table, prosecutors cited his years of criticism of witnesses, court officials and others.
Prosecutors asked the judge to fine Trump $1,000 each for each of three social-media posts this month about Daniels and Trump’s former fixer and lawyer Michael Cohen.
“The defendant has demonstrated his willingness to flout the order. He has attacked witnesses in the case, in the past he has attacked grand jurors in the case,” prosecutor Christopher Conroy said.
Under Merchan’s gag order, Trump is barred from making public statements about witnesses concerning their potential testimony and about prosecutors, court staff and their family members if the statements are meant to interfere with the case.
Trump lawyer Todd Blanche said Trump did not violate the gag order because he was responding to witnesses’ public statements.
“The two witnesses themselves have been talking about their testimony in this case, President Trump’s ongoing reelection, and just generally disparaging President Trump constantly,” Blanche said.
Manhattan District Attorney Alvin Bragg, a Democrat, charged Trump with falsifying records to cover up a $130,000 payment in the waning days of the 2016 presidential campaign to buy the silence of Daniels about a 2006 sexual encounter she has said they had.
Trump has denied any such relationship and has pleaded not guilty.
Falsifying business records in New York is a felony punishable by up to four years in prison, though many of those found guilty have been sentenced to fines or probation.
If convicted, Trump could still hold office if he defeats Democratic President Joe Biden in the Nov. 5 election. But according to a Reuters/Ipsos poll, half of independent voters and one in four Republicans say they would not vote for him if he were convicted of a felony.
Cohen has testified that he made the payments to buy Daniels’ silence ahead of the 2016 election, in which Trump defeated Democrat Hillary Clinton. Cohen pleaded guilty in 2018 to violating campaign finance law, though the federal prosecutors who brought that case did not charge Trump.
Trump has called Cohen a “serial liar” and his lawyers are expected to attack his credibility at trial.
Trump, 77, is required to attend the trial, which is expected to last through May. Merchan warned him that he could be sent to jail if he disrupted the proceedings, adding that he gives that warning to all defendants at the outset of a trial.
The selection of 12 jurors and six alternates from a pool of Manhattan residents is expected to take about a week, followed by witness testimony.
Wearing his signature blue suit and red tie, Trump watched while Merchan set limits on witnesses and evidence to be presented at trial and denied a motion by Trump’s lawyers to have the judge recuse himself.
The judge said some 500 potential jurors were waiting while legal arguments took place.
POLICE STAND GUARDPolice stood guard in front of the courthouse amid a maze of barricades. A handful of protesters carried hand-painted signs reading “LOSER” and “convict Trump already.”
Though the case is regarded by some legal experts as the least consequential of the four criminal prosecutions he faces, it is the only one guaranteed to go to trial before the Nov. 5 election.
The businessman-turned-politician, who served as president from 2017 to 2021, says he is being targeted by his political enemies.
“This is political persecution,” Trump said before entering the courtroom.
In his three other criminal cases, Trump stands accused of mishandling classified information and trying to overturn his 2020 election loss to Democrat Joe Biden. He has pleaded not guilty in all of those cases.
Bragg has argued that the case concerns an unlawful scheme to corrupt the 2016 election by burying a scandalous story that would have harmed Trump’s campaign. Trump’s lawyers have said the payment did not amount to an illegal campaign contribution.
TABLOIDS AND A PLAYBOY PLAYMATE
Choosing a jury from a pool of people from heavily Democratic Manhattan could take several days, to be followed by opening statements and testimony from a parade of potentially riveting witnesses, including Cohen and Daniels.
David Pecker, the former head of the National Enquirer tabloid, will also testify that he ran stories in the tabloid to boost Trump’s 2016 campaign, prosecutor Joshua Steinglass said.
Also due on the witness stand is Karen McDougal, a former nude model for Playboy magazine who prosecutors say was paid by the National Enquirer to keep quiet about an affair she says she had with Trump.
Merchan said he would not permit witnesses or prosecutors to tell the jury that the affair took place while Trump’s wife Melania was pregnant with their child.
Trump has said he plans to testify in his own defense, a risky move that could open him to cross-examination.
Accolade, Inc. (NASDAQ:ACCD) Chief Financial Officer Stephen H. Barnes recently engaged in transactions involving the company’s stock, according to the latest SEC filings. Barnes sold a total of $880 worth of common stock at an average price of $7.273 per share to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs).
The transactions, which took place on May 17, 2024, were part of a “mandatory sell to cover” transaction and were not discretionary sales by Barnes. This type of sale is commonly used by executives to satisfy tax obligations that arise when equity awards, such as RSUs, vest and are settled.
The RSUs, each representing a contingent right to receive one share of Accolade’s common stock, were converted into 415 shares of common stock. Following the conversion and the subsequent sale to cover taxes, Barnes’s ownership in the company’s common stock stood at 179,366 shares.
Investors often monitor insider transactions as they can provide insights into an executive’s view of the company’s future prospects. However, in this case, the sales were not discretionary and were solely for the purpose of fulfilling tax requirements associated with the RSUs.
Accolade, Inc., headquartered in Plymouth Meeting, Pennsylvania, operates within the business services sector, providing personalized health and benefits solutions designed to improve the experience, outcomes, and cost of healthcare.
The transactions are detailed in the Form 4 filed with the Securities and Exchange Commission, which provides information on trades made by the company’s officers, directors, and beneficial owners.
InvestingPro Insights
Amid recent insider transactions by Accolade, Inc.’s (NASDAQ:ACCD) CFO, investors are closely observing the company’s financial health and stock performance. As per InvestingPro data, Accolade’s market capitalization stands at 586.11 million USD, reflecting the company’s current valuation in the market. Despite challenges, the company has managed to achieve a revenue growth of 14.09% over the last twelve months as of Q4 2024, indicating a potential for expansion and scaling.
According to InvestingPro Tips, Accolade’s stock price has been quite volatile, with a one-month price total return showing a significant decline of -18.07%. This volatility could be a factor for investors to consider, especially for those with a lower risk tolerance. The company’s stock has also fared poorly over the last month, which may influence investor sentiment and the perception of the company’s near-term prospects.
Another key metric that stands out is the company’s gross profit margin, which is reported to be 46.52% for the same period. This suggests that while Accolade is generating a solid profit on its services, its operating income margin of -27.42% highlights operational challenges that are impacting the bottom line.
For investors seeking a deeper understanding of Accolade’s financial position and future outlook, additional InvestingPro Tips are available. With a total of 7 additional tips on the platform, interested parties can gain comprehensive insights into Accolade’s performance and potential investment opportunities. To access these insights and become better informed, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
On Monday, Jefferies revised its financial outlook on Teladoc Health Inc (NYSE:), reducing the stock price target to $14.00 from the previous $16.00 while maintaining a Hold rating. The adjustment follows the evaluation of the company’s first-quarter results and the latest guidance provided by its management. The firm has moderated its expectations for Teladoc’s BetterHelp business, noting that year-over-year comparisons are showing a negative trend.
The firm’s analyst stated that the updated model takes into account the recent quarterly performance and comments from the management team. As a result, the revenue and EBITDA forecasts for the fiscal years 2024 through 2026 have been revised.
The new projections for revenue are now set at $2,625 million for 2024, $2,724 million for 2025, and $2,798 million for 2026. Similarly, the EBITDA estimates have been adjusted to $362 million for 2024, $393 million for 2025, and $414 million for 2026.
These updated figures represent a decrease from the previous estimates, which had the revenue at $2,671 million for 2024, $2,738 million for 2025, and $2,794 million for 2026, with EBITDA at $367 million for 2024, $391 million for 2025, and $409 million for 2026. The changes reflect a more conservative outlook for the company’s performance over the next few years.
The analyst reiterated the Hold rating on Teladoc shares, suggesting that investors maintain their current positions without increasing or decreasing their stake in the company. The revised price target and financial estimates are based on the latest available data and the firm’s analysis of the company’s business trajectory.
Teladoc Health Inc, listed on the New York Stock Exchange, is a telemedicine and virtual healthcare company. It has been closely watched by investors as the telehealth sector experiences shifts in consumer behavior and regulatory environments. The updated guidance from Jefferies provides a current perspective on the company’s financial health and market position.
InvestingPro Insights
As Teladoc Health Inc (NYSE:TDOC) navigates through a challenging period, real-time data from InvestingPro offers additional context to Jefferies’ revised financial outlook. The company’s market capitalization stands at $2.11 billion, reflecting its current valuation in the market.
Despite the downward revision of earnings by analysts, Teladoc’s valuation implies a strong free cash flow yield, suggesting potential for investor returns. Still, it is critical to note that analysts do not expect the company to be profitable this year, which is an important consideration for investors.
On a positive note, Teladoc’s liquid assets surpass its short-term obligations, indicating a degree of financial flexibility. Yet, the firm is trading near its 52-week low and has not been profitable over the last twelve months, factors that might concern investors looking for immediate profitability.
Moreover, the stock has seen a significant price drop over the last three months, which could either signal a buying opportunity for value investors or a red flag for those wary of declining stock performance.
Investors interested in a deeper analysis can find more InvestingPro Tips on Teladoc, including insights on EBITDA valuation multiples and dividend policies. For those looking to leverage these insights, InvestingPro offers additional tips—more than eight for Teladoc alone. To enrich your investment decision-making, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Top 10 national builder now selling at The Aurora Highlands
AURORA, Colo., May 20, 2024 /PRNewswire/ — Century Communities (NYSE:), Inc.”one of the nation’s largest homebuilders, an industry leader in online home sales, and the highest-ranked homebuilder on Newsweek’s list of America’s Most Trustworthy Companies 2024”announced that it’s joined The Aurora Highlands, a 4,000-acre planned community, boasting exceptional amenities like a park with a carousel and a future Beach Club with indoor and outdoor swimming pools.
Now selling from the mid $500s, the company is offering a mix of ranch and two-story floor plans from its popular Colorado Collection”with select homes featuring walkout basements, covered patios, 3-bay garages and more. In addition, a model home is now available for tours, showcasing the community’s stunning two-story Vail II plan.
Learn more and explore available homes at www.CenturyCommunities.com/AuroraHighlands.
THE AURORA HIGHLANDS
Now selling from the mid $500s
- Ranch and two-story floor plans
- 3 to 5 bedrooms, up to 2,433 square feet
- 2- to 3-bay garages
- Model home for tour (Vail II plan)
- 4,000-acre planned community
- Winged Melody Park with a carousel, playground, garden and live music stage
- Planned Beach Club with indoor and outdoor pools
- Planned Ice and Recreation Center with a hockey rink, basketball court, climbing wall and more
- Quick access to E-470, downtown Denver, the Denver Tech Center, and Denver International Airport
Location:
3422 N. Highlands Creek Parkway
Aurora, CO 80019
303.558.7373
DISCOVER THE FREEDOM OF ONLINE HOMEBUYING:
Century Communities is proud to feature its industry-first online homebuying experience on all available homes in Colorado.
How it works:
- Shop homes at CenturyCommunities.com
- Click “Buy Now” on any available home
- Fill out a quick Buy Online form
- Electronically submit an initial earnest money deposit
- Electronically sign a purchase contract via DocuSign ®
Learn more about the Buy Online experience at www.CenturyCommunities.com/online-homebuying.
About Century Communities
Century Communities, Inc. (NYSE: CCS) is one of the nation’s largest homebuilders, an industry leader in online home sales, and the highest-ranked homebuilder on Newsweek’s list of America’s Most Trustworthy Companies 2024, consecutively awarded for a second year. Through its Century Communities and Century Complete brands, Century’s mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM ®. Century is engaged in all aspects of homebuilding ” including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 18 states and over 45 markets across the U.S., and also offers title, insurance and lending services in select markets through its Parkway Title, IHL Home Insurance Agency, and Inspire Home Loans subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.
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