Stock Markets
Midea America Collaborates with Warner Bros-Discovery on Mini-Documentary “Project Homestead” to Enhance the Lives of Alaskan Residents in Need
The Mini-Doc Showcases Midea’s Cold-Climate Heat Pump System and the Transformation of a Residential Facility in Alaska
LOUISVILLE, Ky., May 21, 2024 /PRNewswire/ — Midea America, in collaboration with Warner Bros. Discovery (NASDAQ:), is proud to present “Project Homestead,” an inspirational mini-documentary showcasing the transformative renovation of Willow Ranch. Willow Ranch is a residential facility near Willow, Alaska operated by Hope Community Resources, the foremost provider of support services to adults with intellectual and developmental disabilities, traumatic brain injuries, mental health challenges and complex medical conditions in Alaska. Project Homestead highlights the installation of various Midea home appliances and its innovative, energy-efficient, cold-climate heat pump system, which will provide a warm haven for a deserving household for years to come.
To watch the mini-documentary, please follow this link.
An Inside Look into Project Homestead
In this heartwarming film, viewers will witness the transformation of a house on the Willow Ranch property, home to four residents supported by Hope Community Resources. The collaborative efforts of Midea, Warner Bros. Discovery, Hope Community Resources, local contractors and volunteers provided a life-changing, all-expense-paid home renovation. Willow, Alaska, with its extreme climate, serves as the perfect backdrop for this project, underlining the importance of warm, energy-efficient living environments. Midea was thrilled to be involved in this project to showcase its desire to make energy-efficient heat pump technology more accessible across all communities.
Hosted by Jeff Thorman, seasoned general contractor and the face of Home RenoVision DIY, the film explores how home renovation can positively impact the lives of people in need.
“I am thoroughly impressed with the exceptional performance of Midea’s cold-climate heat pump system, especially in the challenging harsh winter conditions of Alaska,” expressed Jeff Thorman. “Having been in the home renovation industry for 25 years, I have a deep appreciation for innovative technologies that not only provide essential comforts but do so in an energy-efficient and cost-effective manner. Midea’s system is a testament to what modern engineering can achieve “ delivering reliable heating even in extreme cold, which is a game-changer for regions like Alaska.”
Midea’s Heat Pump System
Midea’s cold-climate heat pump system can deliver efficient heating and cooling in all American climates, even northern regions during harsh winters. While heat pumps historically have a reputation for underperforming in temperatures below 40 degrees Fahrenheit, in recent lab testing sanctioned by the U.S. Department of Energy as part of its Cold Climate Heat Pump Technology Challenge, Midea’s cold-climate heat pump system achieved 118% of rated capacity heating output at -15 degrees Fahrenheit “ debunking the myth that heat pumps only work in mild climates and proving that heat pumps are the HVAC systems of the future, everywhere. This also comes at a time of extreme demand for cost-effective and energy-efficient options, with the supply and transportation costs of fossil fuel in Alaska continuing to rise.
“Midea is at the forefront of heat pump innovation, designing contractor and user-friendly systems that are making this modern technology accessible for all,” said David Rames, Senior Product Manager, Midea America Corp. “Our commitment to innovation and diverse solutions reflects our dedication to making a positive impact on everyone who needs high performing, highly efficient comfort solutions. The efficacy of our heat pump system in Alaska “ especially for residents in need “ is the ultimate proof and something in which we take immense pride.”
Production units of Midea’s forthcoming cold-climate heat pump system are slated to be available in the summer of 2024.
Additional Midea Appliances
Beyond the Midea cold-climate heat pump system, the renovation also featured the installation of other Midea home products and technologies intended to enhance the comfort and well-being of the residents: a refrigerator, air fryer and oven. Midea’s SmartHome application and technology will also allow Hope Community Resources to control and monitor operation remotely and provide useful information regarding usage, condition and energy consumption.
For more information, please visit midea.com/us.
ABOUT MIDEA AMERICA
Midea America Corp. is the U.S. subsidiary of Midea Group Co., Ltd., a publicly listed, Fortune 500 company and the world’s leading manufacturer of home appliances. Midea America Corp. is headquartered in Parsippany, NJ and has a Research and Development Center in Louisville, Kentucky. With more than 150,000 employees and presence in over 195 countries, Midea’s products touch the lives of millions of families through air treatment, refrigeration, laundry, small and large kitchen appliances, water appliances, floor care and lighting.
ABOUT WARNER BROS. DISCOVERY
Warner Bros. Discovery (NASDAQ: WBD) is a leading global media and entertainment company that creates and distributes the world’s most differentiated and complete portfolio of content and brands across television, film and streaming. Available in more than 220 countries and territories and 50 languages, Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, Max, discovery+, CNN, DC, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com.
Stock Markets
US stocks slightly lower after Christmas holiday
Investing.com– U.S. stocks were slightly lower on Thursday, though trading volumes were thin a day after the Christmas holiday.
At of 12:58 ET (17:58 GMT), the fell 0.10%, the was down 0.1%, while the declined 0.01% or 6 points.
Jobless claims in U.S. dip to one-month low
The weekly U.S. jobless claims data released before the market opened on Thursday and saw a one-month low dip.
The Labor Department reported a decrease of 1,000 in initial applications for state unemployment benefits, bringing the seasonally adjusted figure to 219,000 for the week that ended on December 21. This figure is lower than the 224,000 claims that economists had predicted for the same week.
Meanwhile, the number of individuals receiving benefits after their first week of aid, which serves as an indication of hiring, increased by 46,000. This brought the seasonally adjusted total to 1.910 million for the week that ended on December 14, the highest since November 2021. Economists had previously anticipated the number of these continued claims to be 1.880 million.
“We do not think that this week’s data will move the needle for any of them, but more prints in line with the tone of this week’s data may motivate the doves on the Committee to speak up,” Jefferies said in a recent note.
Tech stocks flat despite Apple upgrade
The major tech giants were mostly down after the markets opened, with Apple marginally higher despite an upgrade from tech-bull Wedbush.
Apple Inc (NASDAQ:) gained 0.2% affter Wedbush raised its price target on Apple to $325 from $300 banking on transformative AI-driven iPhone upgrade cycle poised to fuel growth into 2025.
“We believe Apple is heading into a multi-year AI driven iPhone upgrade cycle that is still being underestimated by the Street,” Wedbush said in a recent note.
Crypto-related stocks slip as bitcoin skids, but KULR Technology surges on BTC purchase
Crypto-related stocks including MicroStrategy Incorporated (NASDAQ:), Coinbase Global Inc (NASDAQ:), and Riot Platforms (NASDAQ:) followed bitcoin lower as the most valuable cryptocurrency fell more than 2%.
KULR Technology jumped 30% after the space technology company bought about 217 bitcoin and detailed plans to allocate up to 90% of its excess cash to bitcoin.
Stock Markets
Lichen China Limited announces $2.8 million share sale
XIAMEN, China – Lichen China Limited (NASDAQ:LICN), a company specializing in financial and taxation services, has announced a definitive agreement with several investors for a registered direct offering. The offering involves the sale of 20 million Class A ordinary shares, or pre-funded warrants as an alternative, at a price of $0.14 per share. This transaction is expected to yield approximately $2.8 million in gross proceeds for the company. The offering comes as the company maintains strong financial fundamentals, with InvestingPro data showing an impressive gross profit margin of 61% and a healthy current ratio of 17.55x.
The closing of the sale is anticipated on or about December 27, 2024, pending the fulfillment of customary conditions. Univest Securities, LLC is the sole placement agent for the offering, which is being conducted under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on March 1, 2024.
Investors can access the final prospectus supplement and accompanying prospectus, detailing the offering’s terms, on the SEC’s website once filed. The offering is only valid in jurisdictions where it is lawful, and the securities cannot be sold in any jurisdiction where such an offer, solicitation, or sale would be illegal prior to registration or qualification under the applicable securities laws.
Lichen China, with over 18 years of experience, has established a reputation for providing professional and high-quality financial and taxation solutions in China. The company also offers education support services and software and maintenance services under the “Lichen” brand. Despite the stock’s significant decline of 89% year-to-date, InvestingPro analysis indicates the company is currently undervalued, with robust revenue growth of 25% in the last twelve months. Get access to 16 additional ProTips and comprehensive financial analysis with an InvestingPro subscription.
The company’s press release contains forward-looking statements that involve risks and uncertainties. While Lichen China believes the expectations reflected in these statements are reasonable, they caution that actual results may differ materially. Trading at a P/E ratio of 6.4x and with a market capitalization of $8.17 million, investors are encouraged to review factors that may affect the company’s future results in its registration statement and other SEC filings.
This news article is based on a press release statement from Lichen China Limited.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Stock Markets
2024 Year-End NAIC Designations for STACR REMIC Trust, STACR Trust, and STACR Debt Notes
MCLEAN, Va., Dec. 26, 2024 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: OTC:) today published on its website the National Association of Insurance Commissioners (NAIC) 2024 filing year designations for certain STACR REMIC Trust, STACR Trust, and STACR Debt Notes (collectively, STACR Notes).
Overall, of the 209 reviewed STACR Notes, all have achieved NAIC 1 Designation including all A1, M1 and M2 Notes offered through 2024 STACR transactions. In addition, 10 of the 2024 NAIC 1 Designations are upgrades from their 2023 NAIC 2 Designations. The below table details the upgrades:
CUSIP | Deal Name | 2023 Year-End NAIC Designation | 2023 Year-End NAIC Designation Modifier | 2024 Year-End NAIC Designation | 2024 Year-End NAIC Designation Modifier |
35564KB57 | STACR 2022-HQA2 M2B | 2 | B | 1 | E |
35564KB65 | STACR 2022-HQA2 M2 | 2 | A | 1 | D |
35564KE62 | STACR 2022-HQA3 M2B | 2 | C | 1 | F |
35564KE70 | STACR 2022-HQA3 M2 | 2 | B | 1 | E |
35564KP60 | STACR 2023-DNA1 M2B | 2 | C | 1 | E |
35564KP94 | STACR 2023-DNA1 M2 | 2 | A | 1 | E |
35564KT82 | STACR 2023-DNA2 M2B | 2 | C | 1 | E |
35564KU31 | STACR 2023-DNA2 M2 | 2 | A | 1 | E |
35564KY29 | STACR 2023-HQA1 M2B | 2 | B | 1 | E |
35564KY37 | STACR 2023-HQA1 M2 | 2 | A | 1 | E |
About Freddie Mac Single-Family Credit Risk Transfer
Freddie Mac’s Investment & Capital Markets Credit Risk Transfer (CRT) programs transfer credit risk away from U.S. taxpayers to global private capital via securities and (re)insurance policies, providing stability, liquidity and affordability to the U.S. housing market. The GSE Single-Family CRT market was founded when Freddie Mac issued the first STACR ® (Structured Agency Credit Risk) notes in July 2013. In November 2013, ACIS ® (Agency Credit Insurance Structure ®) was introduced. Today, the industry-leading and award-winning programs attract institutional investors and (re)insurance companies worldwide. For specific STACR and ACIS transaction data, visit Clarity Data Intelligence ®.
About Freddie Mac
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | LinkedIn | Facebook| X | Instagram | YouTube
MEDIA CONTACT:
Fred Solomon
703-903-3861
Frederick_Solomon@FreddieMac.com
INVESTOR CONTACT:
Christian Valencia
571-382-4236
Source: Freddie Mac
- Forex2 years ago
Forex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
How is the Australian dollar doing today?
- Forex2 years ago
Unbiased review of Pocket Option broker
- Forex2 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Cryptocurrency2 years ago
What happened in the crypto market – current events today
- World2 years ago
Why are modern video games an art form?
- Commodities2 years ago
Copper continues to fall in price on expectations of lower demand in China
- Forex2 years ago
The dollar is down again against major world currencies