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Explainer-What does Louisiana’s new abortion pill law mean for patients?
By Ahmed Aboulenein and Brendan Pierson
(Reuters) – The Louisiana Senate’s vote on Thursday to reclassify the two drugs used in medication abortion as controlled substances marks the latest development in a nationwide battle over abortion pills.
Here is a look at what the law does, and what might happen next.
HOW DOES LOUISIANA’S LAW ADD TO ABORTION RESTRICTIONS?
The law classifies mifepristone and misoprostol as Schedule IV substances, meaning they require greater oversight due to a potential for abuse or dependence.
That puts the abortion pills in same category as anti-anxiety medications Xanax and Valium. The law makes it a crime to possess them without a prescription or outside of professional medical practice, punishable by one to five years in prison and fines of up to $5,000.
This makes it riskier for Louisiana residents, who are already subject to a near-total ban on abortion, to bring pills that can terminate a pregnancy from out of state or order them online without a prescription.
WHO ELSE IS AFFECTED?
Pregnant women are exempt from prosecution, but any other person who might help them obtain the drugs, like friends and family or providers, are not. Neither are women who are not pregnant but want to acquire them as a precaution.
Doctors will need a special license to prescribe the drugs and those prescriptions would be logged in a state database that law enforcement can access with a warrant. That could make doctors hesitant to prescribe them and compromise patient privacy.
Critics say the law will also make it harder for people who need misoprostol for other conditions. The drug is used to induce labor, treat miscarriages, reduce the risk of serious bleeding from ulcers and other indications.
COULD THE LAW BE CHALLENGED IN COURT?
Yes. Women and doctors in Louisiana, and the makers of the drugs, could all argue that they are harmed by the law and have legal standing to challenge it.
One potential argument is that the law violates Louisiana residents’ basic rights under the state constitution by restricting necessary medical care.
Plaintiffs could also say that the law conflicts with the federal government’s policy of making the drugs available. The only comparable case, however, is a 2014 court ruling that Massachusetts could not ban a prescription painkiller outright, which Louisiana’s law does not do.
ARE OTHER STATES CONSIDERING SIMILAR LAWS?
Reuters was not able to identify similar proposals, but past experience suggests copycat laws are likely. For example, after Texas passed a law allowing private lawsuits against people who aid or abet in obtaining an abortion, several other states followed suit.
WHERE ELSE IS THE FIGHT OVER ABORTION PILLS UNFOLDING?
The U.S. Supreme Court is currently considering a lawsuit in which anti-abortion medical groups and doctors are seeking to restrict mifepristone, including through a ban on prescribing it by telemedicine or dispensing it by mail.
Meanwhile, several Democratic-led states have passed so-called “shield laws” meant to protect doctors who prescribe abortion pills across state lines to patients where abortion is illegal.
By Sheila Dang
(Reuters) – The Paris Olympics will be a showcase of generative AI for American viewers but European audiences won’t see a similar approach, a contrast that reflects how global media companies are deliberating over the use of the technology.
Comcast (NASDAQ:)’s NBCUniversal is diving into AI for its U.S. broadcast of the Games, including re-creating the voice of a legendary sportscaster, while Warner Bros. Discovery (NASDAQ:)’s sports division in Europe said the tech is still too nascent for roles such as sports commentating.
Warner Bros. Discovery, which will stream the Games on its Max and discovery+ streaming platforms across Europe, received demos from tech companies to translate speech into other languages but the demos have lacked the emotion that comes with heart-racing sports moments, said Scott Young, senior vice president at Warner Bros. Discovery Sports Europe.
“In every part of their (demos), it feels like yes, you’ve translated the words correctly, but you haven’t translated or narrated the feeling,” he said.
For instance, when Italian sprinter Marcell Jacobs stunned the world by winning gold in the men’s 100 metres in Tokyo, Italian commentators screamed their reactions, showing the genuine moment of “experts sitting side-by-side, really living out that story,” Young said. “It is very hard to automatically generate that.”
Meanwhile, U.S. audiences will experience AI when they watch the Games on NBC or streaming service Peacock due to a new partnership between NBCUniversal, Google (NASDAQ:) and Team USA.
AI-enhanced Google Map images of the Olympic venues will help viewers get a feel of Paris and NBC’s hosts will demonstrate how Google AI search can answer questions about the competitions.
NBCUniversal will also use generative AI to create personalised daily briefings of the Olympic events, which will be narrated by an AI re-creation of sports commentator Al Michaels’ voice.
Almost seven million different variations of the daily recaps could be created over the course of the Paris Olympics, NBCUniversal said.
The media company has the largest Olympics broadcast rights deal in the world and paid $7.65 billion to air the Games through 2032.
The Olympic Broadcasting Services, which produces neutral coverage that can be used by media companies around the world, is also embracing AI to assist with quickly cutting vast amounts of footage into brief highlights, but previously told Reuters it remained wary of the risks of deepfakes and “tampering with reality.”
Given how quickly AI capabilities are advancing, it may not be long until European sports fans see more of the technology.
“We’re probably just one Summer Games away from where the real impact will be for us,” Young said.
The next Summer Games are the 2028 Los Angeles Olympics.
On Friday, TD Cowen increased its stock price target for Ultra Clean (NASDAQ: UCTT) shares to $60 from the previous $55 while maintaining a Buy rating on the stock. The firm’s decision came after Ultra Clean reported a stronger-than-expected performance for the June 2024 quarter, which was primarily driven by robust spending on semiconductor processing equipment (SPE) in China, increased demand for high bandwidth memory (HBM), and advanced packaging equipment.
The company’s results for the past quarter outperformed expectations, bolstered by the aforementioned factors. In particular, domestic China SPE spending played a significant role, along with the demand for deposition and etching processes required for HBM manufacturing. Moreover, equipment sales for advanced packaging contributed to the company’s successful quarter.
Looking ahead, Ultra Clean’s guidance for the September 2024 quarter suggests a continuation of these trends. The company anticipates maintaining the momentum with similar driving forces contributing to its performance. Furthermore, growth is expected to extend through the fourth quarter of 2024 and into the calendar year 2025.
The analyst from TD Cowen expressed confidence in the company’s future, stating, “UCTT reported a June ’24 quarter beat attributed to strong domestic China SPE spending, high bandwidth memory (HBM) driving dep/etch demand, and equipment for adv. pkg. The Sept ’24 quarter guide sees much of the same before expected growth through C4Q24/CY25. Reiterate Buy; Price Target goes to $60.”
Ultra Clean’s revised price target and sustained Buy rating reflect the firm’s positive outlook on the company’s performance and growth prospects in the upcoming periods.
In other recent news, Ultra Clean Technology (UCT) reported robust financial performance for Q2 2024, with both revenue and earnings surpassing expectations. UCT’s Q2 revenue reached $516.1 million, a significant increase attributed to strong demand in the domestic China market and AI application suppliers. The company also received the Outstanding Partner Award from Piotech China, which further validates its industry standing.
In terms of future expectations, UCT anticipates Q3 revenue to be between $490 million and $540 million, with EPS ranging from $0.22 to $0.42. CEO Jim Scholhamer predicts sustained high business levels in China throughout the year, and marketing expert Cheryl Knepfler expects solid performance in the litho market moving forward.
These recent developments highlight UCT’s strategic initiatives and its readiness to capitalize on favorable industry trends in the high-tech manufacturing and services landscape.
InvestingPro Insights
Ultra Clean’s recent performance and the optimistic outlook from TD Cowen have been echoed in some of the real-time metrics from InvestingPro. The company’s market capitalization stands at $2.31 billion, and despite a challenging revenue decline of 20.71% over the last twelve months as of Q1 2024, there’s a silver lining with a quarterly revenue growth of 10.25% in Q1 2024. This suggests a potential turnaround or stabilization in the company’s financial performance.
InvestingPro Tips indicate that Ultra Clean is expected to see net income growth this year, which aligns with the positive momentum suggested by TD Cowen. Moreover, the company has sufficient liquid assets to cover short-term obligations, which is a reassuring sign for investors concerned about financial stability. For those looking to delve deeper into Ultra Clean’s financials and future prospects, InvestingPro offers a wealth of additional tips – 11 more to be precise, accessible through the dedicated company page.
Investors interested in Ultra Clean may also take note of the company’s price relative to its adjusted earnings, with a P/E ratio of -68.57, indicating that the market has expectations of future earnings recovery. With the next earnings date set for October 23, 2024, and a fair value estimate by analysts at $55, slightly above the InvestingPro Fair Value of $50.63, there seems to be a consensus on the stock’s potential upside. For those seeking to leverage these insights, don’t forget to use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By David Lawder and Marcela Ayres
RIO DE JANEIRO (Reuters) – The U.S. and Brazilian governments announced a climate partnership agenda on Friday, seeking to deepen ties on an issue they seen as key but treated as secondary by opposition in both countries.
Speaking on the sidelines of a G20 finance leaders meeting in Rio de Janeiro, U.S. Treasury Secretary Janet Yellen said that “advancing work on climate and on nature and biodiversity can bring benefits not only to both of our economies but also to the region and to the global economy.”
“We want to be more close,” said Brazil’s Finance Minister Fernando Haddad, adding he expected these guidelines to turn into concrete actions very quickly.
The joint work between the U.S. and Brazil, the two largest economies in the Western Hemisphere, will focus on four key areas, including efforts to facilitate countries’ ease of access to multilateral climate fund resources, a priority for Brazil during its G20 presidency this year.
Yellen also mentioned as pillars of this agenda the aim to bolster clean energy supply chains and efforts to improve the integrity and effectiveness of voluntary carbon markets.
Efforts to mobilize finance and develop innovative solutions to conserve and restore nature and biodiversity, including through multilateral development banks, are also on the agenda.
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