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Republican presidential candidate Nikki Haley targeted in swatting incident
© Reuters. FILE PHOTO: Republican presidential candidate and former U.S. Ambassador to the United Nations Nikki Haley speaks during a campaign event before the South Carolina Republican presidential primary election in North Charleston, South Carolina, U.S., January
By Alexandra Ulmer, Peter Eisler and Linda So
(Reuters) -Authorities responded to a fake emergency at the South Carolina home of Republican presidential candidate Nikki Haley last month after a man claimed to have shot a woman and threatened to harm himself at her home, according to town records obtained by Reuters.
The previously unreported “swatting” incident is among a wave of violent threats, bomb scares and other acts of intimidation against government officials, members of the judiciary and election administrators since the 2020 election that have alarmed law enforcement ahead of this year’s U.S. presidential contest.
Swatting cases have surged over the past two months, targeting both allies and rivals of former President Donald Trump as he campaigns to return to the White House. The targets include figures who have publicly opposed Trump, such as Maine Secretary of State Shenna Bellows, a Democrat who barred him from her state’s primary ballot. Judges and at least one prosecutor handling cases against Trump have been targeted. But Trump backers such as U.S. Representative Marjorie Taylor Greene have also faced swatting attempts.
The hoax against Haley, who is challenging frontrunner Trump for the Republican presidential nomination, occurred on Dec. 30 in the town of Kiawah Island, an affluent, gated community of around 2,000 people.
Haley’s campaign declined to comment.
An unknown person called 911 and “claimed to have shot his girlfriend and threatened to harm himself while at the residence of Nikki Haley,” Craig Harris, Kiawah Island director of public safety, told town officials on Dec. 30, according to an email Reuters obtained in a records request for threats to Haley’s home. “It was determined to be a hoax … Nikki Haley is not on the island and her son is with her.”
Swatting is the filing of false reports to the police to set off a potentially dangerous response by officers. Law enforcement experts see it as a form of intimidation or harassment that is increasingly being used to target political figures and officials involved in the civil and criminal cases against Trump.
In the email, Harris said he was in contact with South Carolina’s state police, the Federal Bureau of Investigation and the head of Haley’s security team. “This incident is being investigated by all involved,” he wrote. The email did not mention a suspect or potential motive. In a separate email obtained by Reuters, an FBI official in South Carolina told Harris and other law enforcement officials that federal agents were tracking the hoax call and intended to open a “threat assessment” into the matter.
Harris, the FBI and the state police had no immediate comment on the incident. Law enforcement agencies have not publicly identified a suspect in the Haley case or in other high-profile swatting cases.
Haley and her husband bought the $2.4 million Kiawah Island residence in October 2019, local property records indicate.
Trump, famed for his incendiary rhetoric, has expressed fury at Haley in recent weeks. She has lost the first two Republican nominating contests, in Iowa and New Hampshire, but has refused to drop out of the race. Haley has ramped up her criticism of Trump, suggesting he’s too old to be president again and calling him “totally unhinged.”
Reuters has documented at least 27 swatting incidents of politicians, prosecutors, election officials and judges since November 2023, ranging from Georgia Republican state officials to hoaxes this month against Democrat Joe Biden’s residence at the White House.
Some of the calls bear striking similarities. In two cases in which Reuters reviewed 911 recordings of hoax calls, a person identifying himself as “Jamal” called police to say he had killed his wife.
One such incident targeted the Florida home of Republican U.S. Senator Rick Scott on Dec. 27, weeks after he endorsed Trump, according to records from the Naples Police Department. “I caught my wife sleeping with another dude so I took my AR-15, and I shot her in the head three times,” the caller said, referring to a popular semi-automatic rifle. Officers checked Scott’s home and concluded the call was a hoax. Scott wasn’t home at the time of the call.
“Jamal’s voice sounded as if it was computer generated/artificial,” wrote a Naples Police Department official in the incident report.
A caller identifying himself as “Jamal” also targeted Georgia Republican state senator John Albers on Dec. 26, according to an incident report from the Roswell Police Department. In that case, the caller said he had shot his wife and demanded $10,000 or he would shoot himself, too. In both cases, the callers were male and spoke with a similar accent, according to a Reuters analysis of the audio recordings.
A Jan. 7 call targeting Missouri Secretary of State Jay Ashcroft, a strong Trump supporter, also had some similarities. The caller told police he was phoning from the official’s address in the state capital, said he had shot his wife and added “he was going to kill himself and hung up on the operator,” according to an incident report by the Jefferson City Police Department. Ashcroft and his wife and children were home at the time, according to a statement from the Missouri Secretary of State.
Scott, Albers and Ashcroft did not respond to requests for comment.
Gabriel Sterling, a top official in the Georgia secretary of state’s office, said when someone called 911 on Jan. 11 to falsely report a shooting at his Atlanta suburban home, 14 police cars, a fire truck and an ambulance raced to his house. “Now I bolt my doors every night,” said Sterling, a Republican who faced a torrent of threats for denouncing Trump’s false voter-fraud claims after the 2020 election. “That’s the reality I’m living in now,” he said in an interview.
JUDGES IN TRUMP CASES ARE TARGETED
Similar scare tactics have been directed in recent weeks at judges and prosecutors involved in cases against Trump.
In the early morning hours of Jan. 11, police in Nassau County, New York, received a report of a bomb at the home of Manhattan Supreme Court Justice Arthur Engoron, who is presiding over the civil fraud trial of Trump and his family real estate business. Police officers, including a bomb squad, were dispatched to the judge’s home in the upscale suburb of Great Neck, Long Island, at 5:30 a.m., according to the Nassau County Police Department.
But no explosive device was found and the call was determined to be a false report. A spokesman for the New York court system declined to comment on the incident.
Just days earlier, police in Washington, D.C., responded to a false report of a shooting at the home of U.S. District Court Judge Tanya Chutkan, who is hearing the criminal case charging Trump with attempting to overturn his 2020 election defeat. Late in the evening on Jan. 7, police were dispatched to the home, where an unidentified woman advised them that she was uninjured and no one else was in the home, according to an incident report reviewed by Reuters. Police cleared the home and found no explosive device. The U.S. Marshals Service, which manages security for federal judges and prosecutors, has said it is “committed” to “protecting federal judges, jurors and other members of the federal judiciary.” It did not respond to a request for comment on specific incidents.
Other security scares have involved hoax bomb attacks.
Over two days in early January, bomb threats were sent to state capitals and courthouses in multiple states, according to news reports and state officials, including Minnesota, Arkansas, Maine, Hawaii, Montana and New Hampshire. In Minnesota, state courts received bomb threats by email, but the threats were deemed false and did not block court proceedings, court officials told Reuters. The FBI said it was investigating the threats.
In a statement issued previously on the surge in swatting incidents, the FBI said people making the false calls were using tactics such as caller-ID spoofing technology “to make it appear that the emergency call is coming from the victim’s phone.”
The calls “are dangerous to first responders and to the victims,” often involving fake reports that hostages have been taken or bombs are about to go off, the FBI said. “The community is placed in danger as responders rush to the scene, taking them away from real emergencies, and the officers are placed in danger as unsuspecting residents may try to defend themselves.”
The recent swatting incidents follow a surge of violent threats against U.S. election workers after the 2020 election, inspired by Trump’s false stolen-election claims. Reuters documented more than 1,000 intimidating messages between the 2020 election through 2021 in a series of stories that chronicled the campaign of fear against election administrators in more than a dozen battleground states. A report published on Thursday by New York University’s Brennan Center for Justice said the intimidation continued well into last year. In its survey of state legislators completed in October 2023, 43% reported being threatened over the past three years.
The swatting wave coincides with the most sustained spate of political violence in the United States since the 1970s, according to a Reuters investigationlast year. That report documented at least 232 politically motivated acts of violence since Trump supporters stormed the U.S. Capitol on Jan. 6, 2021. The events ranged from riots to brawls at political demonstrations to beatings and murders.
(Alexandra Ulmer reported from San Francisco. Peter Eisler and Linda So reported from Washington. Additional reporting by Ned Parker in New York. Editing by Jason Szep)
- Quarterhill (OTC:) will showcase its advanced roadside and back-office tolling solutions at this year’s technology summit.
- This marks the first time that leading toll technology provider Electronic Transaction Consultants, LLC (ETC) will participate as part of Quarterhill’s unified brand.
TORONTO, May 5, 2024 /PRNewswire/ – Quarterhill Inc. (“Quarterhill” or the “Company”) (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (“ITS”) industry, is proud to announce its participation as a Platinum sponsor at the International Bridge, Tunnel and Turnpike Association (“IBTTA”) Technology Summit from May 4 to 7, 2024, in Atlanta, Georgia. Quarterhill is showcasing its groundbreaking solutions at booth 203.
Quarterhill’s appearance at the IBTTA Technology Summit signifies an important evolution towards a unified brand identity, highlighting the integration of Electronic Transaction Consultants, LLC (“ETC”) into its portfolio. This strategic consolidation under the Quarterhill brand enhances the Company’s capability to deliver comprehensive, integrated ITS solutions, combining expertise in tolling, enforcement, and vehicle classification technologies. This move not only streamlines Quarterhill’s offerings but also reinforces its commitment to leading innovation in the ITS industry, providing superior value to its clients and stakeholders.
Joining the excitement, Red Fox ID Limited (“Red Fox”)”a company at the forefront of above-ground vehicle classification technology and the latest addition to the Quarterhill family”is also exhibiting at the Technology Summit in booths 101/103. Red Fox is known for its cutting-edge Automatic Vehicle Detection and Classification (“AVDC”) technology, essential for modern road user charging applications.
Visitors to the IBTTA Technology Summit can experience the future of tolling and AVDC technology by meeting with the experts from Quarterhill and Red Fox at their respective booths. The summit serves as a perfect platform for demonstrating how the integration of ETC and Red Fox into Quarterhill will enhance the company’s road pricing solutions.
About Quarterhill
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.
Forward-looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Such forward-looking statements relate to future events, conditions or future financial performance of ŽQuarterhill based on future economic conditions and courses of action. All statements other Žthan statements of historical fact may be forward-looking statements. Such forward-looking statements Žare often, but not always, identified by the use of any words such as “seek”, “anticipate”, “budget”, ŽŽ”plan”, “goal”, “expect” and similar expressions.
Forward-looking statements involve known and unknown risks, assumptions, Žuncertainties and other factors that may cause actual results or events to differ materially from those Žanticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill’s products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; and other risks set forth in the Company’s most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in Žthe forward-looking statements are reasonable, but no assurance can be given that these expectations Žwill prove to be correct and such forward-looking statements included in this news release should not be Žunduly relied upon.Ž Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill’s ability to execute on its business plan; demand for Quarterhill’s products and services; operating assumptions; and financial projections and cost estimates. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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In the rapidly evolving online grocery sector, Instacart (NASDAQ:), operating under the ticker EXCHANGE:CART, has garnered significant attention from Wall Street analysts. These industry experts have been closely monitoring the company’s performance, market trends, and potential impacts of external factors to provide a comprehensive outlook for potential investors.
Company Overview
Instacart has positioned itself as a digital-first leader in the online grocery delivery and pickup service, connecting customers with a variety of retailers. With a focus on deep integration with merchants, optimized delivery logistics, and a mature advertising product, the company has established a significant presence in the United States and Canada. Instacart’s platform supports both grocery and non-grocery items and has been recognized for its early leadership in the massive grocery Total Addressable Market (TAM).
Market Performance and Strategy
Analysts have noted that Instacart’s Gross Transaction Value (GTV) and revenue have consistently beaten consensus estimates, with EBITDA margins showing significant year-over-year improvements. This reflects the company’s disciplined cost management and profitability enhancements. Instacart’s advertising take rates have grown year-over-year, benefiting from robust consumer packaged goods (CPG) ad spending and the launch of new ad formats in the second half of 2022.
The company’s share buyback program, valued at $500 million, signals confidence in its financial health and cash generation capabilities. With $2.2 billion in cash on hand, Instacart is poised for continued GTV growth into 2024, with the potential for acceleration beyond current levels.
Competitive Landscape
Instacart is navigating a competitive landscape with pressures from companies like DoorDash (NASDAQ:) and Uber (NYSE:). Analysts have highlighted the importance of tangible re-acceleration in top-line growth to become more bullish on the company. Long-term growth opportunities include deepening retailer relationships and investing in audience growth.
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Despite the competitive environment, Instacart’s leadership position in digital grocery is reinforced by accelerating GTV and order growth, along with expanding take rates. The company’s business model is considered defensible, and consistent results are expected to contribute to share price appreciation.
Regulatory and Macro Environment
The regulatory scrutiny on gig worker status and changes in consumer behavior post-COVID are among the risks that Instacart faces. The company must also navigate the intense competition within the Marketplace and Retail Media markets and the potential failure to scale the advertising business or expand internationally.
Financial Outlook
Instacart’s financial performance has been robust, with Q3 2023 earnings surpassing expectations. The company reported a total GTV of $7.49 billion and adjusted EBITDA of $163 million for the quarter. Revenue was driven by transaction revenue and advertising & other revenue, with guidance for Q4 2023 indicating GTV growth of +5-6% year-over-year and adjusted EBITDA between $165-175 million.
Wolfe Research maintains an Outperform rating on Instacart (CART) with a raised price target of $39, up from the previous $35. The firm’s analysis suggests multiple paths for GTV acceleration in FY24, with a base case of +7% GTV growth. Adjusted EBITDA projections for FY24 are estimated at $730 million, with further growth to $903 million in FY25. The company’s market capitalization now stands at approximately $11.495 billion, with an enterprise value of $9.153 billion, and financial ratios include a Price to Earnings of 55x, EV/EBITDA of 12.5x, and a Free Cash Flow (FCF) Yield of 21.7%.
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Bear Case
Is Instacart’s market share at risk?
With increasing competition in the online grocery space, Instacart faces the challenge of maintaining its market share. The company’s top-line growth is slower compared to peers like and Uber, which are gaining share in the grocery segment. Competitive market uncertainty remains a concern, with the potential for market share losses and macroeconomic factors affecting growth. Despite these challenges, Instacart’s valuation appears attractive, and the company is well-positioned to capture incremental share due to its marketplace leadership and strong margin profile.
Can Instacart sustain its profitability amid competition?
Instacart’s profitability has exceeded expectations, with EBITDA well ahead of consensus. However, questions arise if more investment in growth should be made given the intensifying competition. The company aims to be GAAP profitable next year, but it must balance the need for profitability with the necessity to invest in growth to fend off competitors.
Bull Case
Will Instacart’s advertising business drive future growth?
Instacart’s advertising revenue grew by 19% year-over-year, with increased penetration into GTV. The company has expanded its advertising business through partnerships and increased ad spending, which is expected to drive future growth. With a unique and differentiated advertising business model, Instacart has a significant lead in the large basket grocery delivery market.
Can Instacart leverage its first-mover advantage?
Instacart’s first-mover advantage and proven profitability in the online grocery space are attractive valuation points. The company’s strong Q3 performance and improved margin outlook, combined with the potential for GTV acceleration in early 2024, position Instacart for sustained top-line growth.
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SWOT Analysis
Strengths:
- Leadership position in online grocery delivery.
- Strong advertising revenue stream.
- Significant cash reserves and share buyback program.
Weaknesses:
- Slower top-line growth compared to competitors.
- High stock-based compensation post-IPO.
- Risks associated with gig worker regulatory scrutiny.
Opportunities:
- Potential acceleration of GTV growth as SNAP benefit headwinds ease.
- Expansion of advertising business and international reach.
- Deepening retailer relationships and audience growth investments.
Threats:
- Intense competition from companies like DoorDash and Uber.
- Market share loss and macroeconomic factors affecting growth.
- Consumer behavior changes post-COVID.
Analysts Targets
– JMP Securities: Market Outperform with a price target of $35 (November 14, 2023).
– Barclays: Overweight with a price target of $40 (November 9, 2023).
– Bernstein: Market-Perform with a price target of $30 (November 9, 2023).
– Wolfe Research: Outperform with a raised price target of $39 (March 5, 2024).
– Stifel: Buy with a price target of $48 (November 9, 2023).
– J.P. Morgan: Overweight with a price target of $33 (November 9, 2023).
– BofA Global Research: Neutral with a price target of $31 (November 9, 2023).
– Baird: Outperform with a price target of $31 (January 18, 2024).
– Gordon Haskett: Hold with a revised price target of $38, up from the previous $34 (April 9, 2024).
– Piper Sandler & Co.: Overweight with an increased price target of $45.00 from $36.00 (March 15, 2024).
The timeframe used for this analysis spans from January to November 2023.
InvestingPro Insights
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Instacart, known on the stock market as EXCHANGE:CART, has become a focal point for investors seeking opportunities in the burgeoning online grocery sector. With a market capitalization of approximately $9.76 billion, the company’s financial health and growth prospects are under constant scrutiny. Instacart’s recent performance has demonstrated some notable highlights, as evidenced by the data and insights from InvestingPro.
One of the key strengths of Instacart is its impressive gross profit margin, which stands at 74.88% for the last twelve months as of Q4 2023. This figure not only underscores the company’s ability to maintain a substantial markup on its sales but also suggests operational efficiency in managing the costs of goods sold. Moreover, Instacart’s revenue growth remains robust, with an increase of 19.25% during the same period, indicating a strong demand for its services and potential for future expansion.
InvestingPro Tips highlight several aspects that could influence investor sentiment. Instacart’s financial resilience is reflected in its liquidity position, where its liquid assets surpass short-term obligations, providing a cushion against market volatility. Additionally, the company holds more cash than debt on its balance sheet, presenting a favorable financial structure that could attract cautious investors. Instacart’s net income is expected to grow this year, offering a positive outlook for its profitability trajectory. Notably, analysts predict the company will be profitable this year, which could mark a turning point in its financial narrative.
While Instacart has not been profitable over the last twelve months, the company’s stock has experienced a strong return over the last three months, with a price total return of 53.3%. This performance suggests growing investor confidence in Instacart’s business model and future prospects. It is important to note that Instacart does not pay a dividend to shareholders, which might be a consideration for income-focused investors.
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For those interested in further analysis and additional insights, InvestingPro offers a comprehensive range of tips for Instacart, with 9 additional tips listed on their platform. These tips provide a deeper dive into the company’s financial health, market position, and potential growth pathways, which can be found at https://www.investing.com/pro/CART.
With the next earnings date scheduled for May 8, 2024, investors and analysts will be keeping a close eye on Instacart’s performance metrics and strategic initiatives to gauge the company’s trajectory in the competitive online grocery market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By Vitalii Hnidyi
KHARKIV, Ukraine (Reuters) – Russian attacks on Orthodox Easter Sunday killed a woman buried under rubble and injured 17 in Ukraine’s northeastern city of Kharkiv and the surrounding region, regional officials said.
Regional Governor Oleh Syniehubov, writing on the Telegram messaging app, said six people were injured in an overnight drone attack on the Osnovyanskyi district of Kharkiv, Ukraine’s second-largest city.
Ten more were hurt in an attack later in the day by aerial bombs on the city centre.
“The next time it could hit my house. Why did it hit here? Just who is here? And on such a holy day. How? I cannot grasp it at all…” Natalia Avilova-Patrikeyeva said outside an apartment building with shattered balconies and windows blown out.
“I thought that at least on this day it would remain calm. At four in the morning there also was a strike. I don’t sleep, I don’t sleep at all.”
Kharkiv withstood a weeks-long Russian onslaught in the early days of the February 2022 Russian invasion and has been a frequent target of attacks in recent weeks.
Russia says it does not target civilian sites, but attacks have hit apartment blocks, schools and medical institutions.
Stunned residents milled about the courtyard outside a bloc of flats or surveyed debris in apartments or in stairwells. Forensic experts combed the ground for pieces of shrapnel.
“The explosion wave kicked out the door and I hid under the table. When I realised what was happening, there was smoke everywhere,” said resident Roza Kuzmenko.
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“One woman from our block was wounded, the ambulance took her. Thank God, I only have a scratch (on my arm).”
Syniehubov also reported the death of an 88-year-old woman in the shelling of the village of Monachynivka, east of Kharkiv. Her body was recovered from the rubble of a house. A man was injured.
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