Stock Markets
Apple shows off updated, mixed-reality headset at AI-focused event
By Aditya Soni, Stephen Nellis
(Reuters) -Apple kicked off its annual developer conference on Monday, where the technology giant is expected to showcase how it is integrating artificial intelligence across its software suite, including a revamped Siri voice assistant and a possible tie-up with ChatGPT owner OpenAI.
The company began the event by offering details on the latest operating system for its Vision Pro mixed-reality headset and iPhone. It said that iOS 18, the software powering its flagship device, makes the iPhone home screen more customizable and includes improved versions of its in-house apps.
The new software will also come with a “lock an app” feature that will help people protect sensitive information. Users can opt to lock specific apps and keep data more tightly controlled in the OS.
Apple also said it would group messages in its email client starting later this year, categorizing them in a primary folder, a transactions folder, a promotions folder and other more specific groupings, for instance communications by an airline. The high-level categorizations are similar to a now-old feature in competitor Google (NASDAQ:)’s Gmail.
Apple said it would make its mixed-reality headset Vision Pro available in eight more countries including China and Japan. The new VisionOS 2 software for the headset will use machine learning to create natural depth photos and come with new gestures.
Shares of the company were down 1.6% on Monday afternoon.
Apple uses the developer conference at its Cupertino, California, headquarters each year to showcase updates to its own apps and operating systems as well as to show developers new tools they will be able to use in their apps.
But more is at stake at the Apple Worldwide Developers Conference (WWDC 2024) than in previous such events, as the iPhone maker seeks to reassure investors that it has not lost the AI battle to Microsoft (NASDAQ:) even though it may have forfeited a few rounds.
Apple will have to show the vast majority of its more than 1 billion users – most of whom are not tech aficionados – why they would want the new breed of AI that has swept Silicon Valley, analysts said.
“Apple will put on a show,” said Ryan Reith, analyst at market research firm IDC. “If they nail the landing, the potential is to get the consumer actually interested in AI because so far it has been mostly about enterprise.”
Apple has been using AI behind the scenes for years to power features on its devices, such as the ability of its watches to detect crashes and falls. But it has been reluctant to tout how this technology boosts functionality in its devices, as Microsoft has done with the help of its early bet on OpenAI.
Microsoft overtook Apple as the world’s biggest company by market capitalization in January, and Apple’s shares have trailed those of other Big Tech companies this year. AI chip giant Nvidia (NASDAQ:) briefly overtook Apple last week as the world’s second-most valuable company, underscoring for some investors a shift in power in the tech world.
SIRI MAKEOVER
Apple is expected to enable Siri to essentially control many apps on a user’s behalf. This has proven tricky as Siri needs to understand the user’s exact intentions and also how the app works.
For example, if a user asks Siri to delete an email, Siri needs to understand which email the user wants to delete and how that function works on, say, Microsoft Outlook versus Gmail.
Apple tried to make Siri smarter in 2018 with tools that allowed developers to code into their apps ways for Siri to have more control, but few showed interest.
Now, Apple is expected to revamp Siri’s underlying software with generative AI. Media have reported that Apple and OpenAI struck a deal to integrate the ChatGPT maker’s technology into Apple’s next iPhone operating system, iOS 18.
Some Apple investors are confident that the AI new features will boost sales of new iPhones at a time when the company is grappling with strong competition in China and slower growth in the U.S.
“This should translate into a strong hardware refresh cycle for Apple,” in 2025, said Dan Eye, chief investment officer at Fort Pitt Capital Group, which holds Apple shares (NASDAQ:). Eye expects Apple to limit some AI features on older models to entice people to buy newer phones.
CHIPS FOR AI
Earlier this month, Apple unveiled a new AI-focused chip in its latest iPad Pro models and analysts expect the company to offer details to developers on how they can use the chip’s capabilities to support all the new AI computing.
The company may also begin to talk about its own cloud-computing capabilities amid reports that Apple was planning to use its own chips inside data centers for the first time.
By using its own chips for cloud services, Apple can roll out advanced AI features that devices cannot handle alone, without requiring expensive processors from Nvidia. The approach also retains many of Apple’s privacy and security features that are baked in to the design of its in-house chips.
The developer conference runs until Friday.
Stock Markets
BioAge Labs (BIOA) Azelaprag Trial Halt Raises Questions About Pre-IPO Disclosures – Hagens Berman
San Francisco, California–(Newsfile Corp. – December 25, 2024) – On December 9, 2024, just months after conducting an initial public offering in September 2024, BioAge Labs, Inc. (NASDAQ: BIOA) made the startling announcement that it was discontinuing a Phase 2 study for its lead product, azelaprag, intended to treat metabolic diseases such as obesity.
Hagens Berman has opened an investigation and urges investors in BioAge who purchased shares in the company’s IPO or on the open market and suffered substantial losses to submit your losses now.
Visit: www.hbsslaw.com/investor-fraud/bioa
Contact the Firm Now: BIOA@hbsslaw.com
844-916-0895
BioAge Labs, Inc. (BIOA) Investigation:
The investigation is focused on the propriety of BioAge’s disclosures about the safety data and other matters related to azelaprag, which the company said in its IPO documents has been “well-tolerated in 265 individuals across eight Phase 1 clinical trials.”
BioAge’s disclosures came into question after the market closed on December 6, 2024, when the company announced the discontinuation of the STRIDES Phase 2 clinical trial evaluating azelaprag in combination with tirzepatide for the treatment of obesity. BioAge said that liver transaminitis was observed in patients receiving azelaprag.
This news drove the price of BioAge shares down almost 80% on December 9, 2024.
“We’re focused on whether BioAge was transparent to investors about the azelaprag safety profile before the December 6 announcement,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in BioAge and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the BioAge investigation, read more »
Whistleblowers: Persons with non-public information regarding BioAge should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BIOA@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235182
Stock Markets
Celsius Holdings (CELH) Hit with Investor Class Action Amid Accusations of Oversold Inventory to Pepsi- Hagens Berman
CELH Investors with Losses Encouraged to Contact the Firm
San Francisco, California–(Newsfile Corp. – December 25, 2024) – Celsius Holdings (NASDAQ:), Inc. (NASDAQ: CELH) and certain of its C-Suite officers are embroiled in a securities class action lawsuit, claiming they misrepresented and concealed crucial information about the company’s financial performance, especially concerning its key customer, PepsiCo (NASDAQ:).
Hagens Berman is investigating the allegations and urges investors in Celsius who purchased shares and suffered substantial losses to submit your losses now.
Class Period: Feb. 29, 2024 – Sept. 4, 2024
Lead Plaintiff Deadline: Jan. 21, 2025
Visit: www.hbsslaw.com/investor-fraud/celh
Contact the Firm Now: CELH@hbsslaw.com
844-916-0895
Celsius Holdings, Inc. (CELH) Securities Class Action (WA:):
The lawsuit alleges that during the Class Period, Celsius failed to disclose to investors several critical points:
- Oversold Inventory: Celsius significantly oversold inventory to Pepsi beyond demand, leading to a potential drastic reduction in future purchases.
- Declining Sales: As Pepsi depleted its overstock, Celsius’ sales were projected to decline, impacting its financial health and outlook.
- Unsustainable Sales Rates: The sales rates to Pepsi were unsustainable and created a misleading impression of the company’s performance.
- Misleading Metrics: Consequently, Celsius’ business metrics and financial prospects were overstated
The situation came to light on May 28, 2024, when Celsius’ stock price plummeted nearly 13% following reports from Nielsen indicating slowed sales growth. Analysts highlighted the possibility of significantly reduced sales as Pepsi cut back its inventory.
The stock took another hit on September 4, 2024, dropping over 11% after a company presentation revealed a shortfall of $100 million to $120 million in Pepsi orders compared to the previous year. It was also disclosed that Pepsi had held several million excess cases over the last 18 months.
These revelations have led shareholder rights firm Hagens Berman to investigate the allegations.
“We’re investigating whether Celsius deliberately painted an overly optimistic picture of its relationship with Pepsi, misleading investors about the true state of its financial health and sales sustainability,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Celsius and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Celsius case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Celsius Holdings should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CELH@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235180
By Ank Kuipers
PARAMARIBO (Reuters) -Suriname’s fugitive former President Desi Bouterse has died aged 79, the country’s government said on Wednesday, almost a year after he fled authorities to avoid jail following his conviction over the murder of 15 political activists in 1982.
“The government has been informed through the family and its own investigations of the passing of Mr. D. Bouterse, ex-President of the Republic of Suriname,” Foreign Minister Albert Ramdin told Reuters.
The former leader died on Tuesday, the government said, without confirming where, or even in which country. Last week Surinamese authorities raided his home – where supporters gathered to pay their respects on Wednesday morning – but did not find him.
Surinamese President Chan Santokhi, who investigated the case as a police commissioner and later as justice minister, expressed condolences to Bouterse’s family and urged calm in a statement.
“In the spirit of the holiday season and year-end, the president calls on all to remain dignified and calm, maintain peace and order and engage in prayer in the spirit of these special days,” the statement said.
Bouterse dominated politics in the tiny South American country for decades, leading a coup in 1980 and finally leaving office in 2020.
In 2019 he and six others were convicted for their role in the 1982 murders of 15 leading government critics – including lawyers, journalists, union leaders, soldiers and university professors – for which Bouterse received a 20-year prison sentence.
Bouterse had claimed the murdered men were connected to a planned invasion of the former Dutch colony.
Following years of legal back and forth, Bouterse was ordered to report to prison in January but he did not show up on the appointed date.
Though Bouterse avoided prison by going on the run, Reed Brody, a U.S. war crimes prosecutor who monitored the case for the International Commission of Jurists, said justice had caught up with the convicted former president before he died.
“Thanks to the victims’ relatives and their supporters who never gave up, Bouterse will go down in history as a convicted murderer,” Brody said.
The former president’s family will make a statement later on Wednesday, members of his political party told journalists.
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