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It turns out that the slang "brain rot" may not be an inaccurate description of what's actually going on in our domes while we endlessly scroll TikTok. As Spanish newspaper El País reports , a growing body of scientific evidence over the past decade suggests that consuming mind-numbing content, from sources ranging from algorithmically driven social media junk to sensationalist news, can literally reduce the physical gray matter in our brains . That's along with wreaking other pernicious effects like shortened attention spans and weakened memory. The nefarious thing? These symptoms are often by design. The most infamous example is the implementation of infinite scrolling in apps, which is intended to feed our compulsive desire to endlessly consume content, or "doomscroll." "This can significantly impair attention and executive functions by overwhelming our focus and altering the way we perceive and respond to the world," Michoel Moshel, lead author of a 2023 meta-analysis documenting the neuropsychological impacts of disordered screen use, told El País . According to Moshel, who is a researcher at Macquarie University, doomscrolling is a consequence "of our brain's natural tendency to seek out new things, especially when it comes to potentially harmful or alarming information, a trait that once helped us survive." Some research has suggested that this mindless digital consumption induces a dissociative state , which explains why we often lose track of time while glued to our phones. One 2023 study which surveyed around 1,100 people found that compulsive digital content consumption could lead to poor physical and mental health outcomes, especially high levels of stress. The US Surgeon General has even warned against letting anyone younger than 13-year-old use social media sites. These sites and apps constantly bombard us with rapidly changing and variable stimuli, explained Eduaordo Fernández Jiménez, a clinical psychologist at Hospital La Paz Madrid, forcing us to constantly change our focus, too. In the long run, this degrades our ability to concentrate on one task for long periods of time, he told El País . "It is the one that is linked to academic learning processes." The physical effects on the brain are perhaps the most alarming. In brain regions involved with decision-making, reward processing, and impulse control, Moshel's meta-analysis indicated that excessive internet use was linked with decreased gray matter volume. "These changes reflect patterns observed in substance addictions," Moshel told El País , likening them to the toll of methamphetamines or alcohol. So it may be time to put the phone down. If the rot hasn't fully taken hold yet, that is. More on neuroscience: You'll Laugh When You Hear How Many Bits Per Second the Human Brain Processes... Once Your Sluggish Human Brain Finally Comprehends It, That Is Share This ArticleOTTAWA — As Canada looks to beef up its border security after president-elect Donald Trump threatened tariffs while raising concerns about illicit fentanyl pouring into his country, border officials pointed out there's barely any coming from Canada. Though, none of them wanted to say the name Trump when they said so. “Canada is not a significant source of fentanyl in the United States," said Aaron McCrorie, vice-president of intelligence and enforcement at the Canada Border Services Agency. He made the comment to a House of Commons committee studying the impact of president-elect Donald Trump's plans for border security and migration. McCrorie said border officials seized 4.9 kg of fentanyl in the first three quarters of the year, with the biggest amount being 4.1 kg bound for the Netherlands. The other seizures were all small, personal amounts caught along the land border, and there are no statistics to suggest significant shipments out of Canada. CBSA President Erin O'Gorman also said the U.S. Drug Enforcement Administration has characterized the amount coming from Canada as "slippage" — small amounts sent over for personal use, mostly by post. Still, that doesn't trivialize the problem. Small package shipments are where CBSA is focusing its efforts, she said, which are hard to detect and can result in many lives lost. Trump has threatened 25 per cent tariffs against Canada and Mexico unless the two countries step up on border security to tamp down on flows of illicit fentanyl. During the presidential race, Trump also threatened to deport millions of undocumented people, stirring fears that could trigger an influx of migrants into Canada. When questioned by NDP MP Alistair MacGregor about what Canada could face if Trump follows through and if the country's immigration detention centres are up to the task, O'Gorman said her organization does not have projections or estimates of what that could look like. “We are prepared for a surge,” O'Gorman said. Ottawa is compiling new measures to bolster border security through more staff and equipment in the face of Trump's tariff threats. Prime Minister Justin Trudeau shared his border plan with the premiers during a Wednesday evening meeting, and Ottawa plans to add their suggestions into the soon-to-come package of measures. Several media outlets have reported that the tab for that could surpass $1 billion, citing confidential sources. RCMP Commissioner Michael Duheme said he was surprised to see that figure bandied about in headlines, but he's not clear whether Ottawa will actually put that much into beefing up the border. He would not share with reporters any of the specifics on his wish list -- or how much money he's asked for, saying the announcement is coming soon enough. "You heard the minister in the past saying drones, helicopters, and we want to modernize everything we have with technological equipment and additional human resources," he said outside the committee room. "We have drones right now that we use to patrol areas that are hard to get to and what not. We just want to modernize the equipment and go to the more advanced technology that they have so we can better secure the border." An RCMP official said the police force currently has more than 900 drones and nine helicopters located across the country, with six helicopters that occasionally provide border surveillance. Meantime, Alberta Premier Danielle Smith, when announcing Alberta's own new border security plan Thursday featuring a new patrol unit and drones, said the province doesn’t support retaliatory tariffs and prefers the diplomatic route. Saskatchewan Premier Scott Moe said he and other premiers support the need for stronger border security to deal with illegal migrants and street drugs. “There is broad support to increase the investment in border security on behalf of Canadians, not just because President-elect (Trump) has asked for it,” Moe said. According to the CBSA, there are 1,200 ports of entry across the country staffed by approximately 8,500 front-line employees. CBSA also employs over 200 criminal investigators and some 60 international officers at 40 missions in 35 countries abroad. "The CBSA strategically dedicates its resources to address the threats that Canada faces while supporting the flow of legitimate trade and travel across the border," said CBSA spokesperson Rebecca Purdy. In the past fiscal year, she said CBSA seized close to 51 million grams of illicit drugs, more than 27,000 banned weapons and almost 900 firearms. This report by The Canadian Press was first published Dec. 12, 2024. -- With files from Chris Purdy in Edmonton and Jeremy Simes in Regina. Kyle Duggan, The Canadian Press
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After facing continued asset quality pressures on its microfinance book, private sector lender IndusInd Bank has put loans worth Rs 1573 crore for sale. The lender has invited public bids for unsecured microfinance loans at a reserve price of Rs 85 crore. ET Year-end Special Reads Corporate Kalesh: Top family disputes of India Inc in 2024 The world of business lost these eminent people in 2024 Fast, faster, fastest: How 2024 put more speed into your shopping The base bid price suggests a minimal recovery rate of 5.04%. The lender has invited bids on a 100% cash basis. In a bid document uploaded on the bank website, the lender indicated that there is no collateral backing these loan accounts of more than 10.61 lakh borrowers. “IndusInd Bank Ltd (IBL) invites bids from all eligible purchasers for sale on “100% Cash Basis” under public auction,” the document read. Asset reconstruction companies (ARCs) are most likely bidders for the loan pool. 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For the quarter, outstanding slippages on the microfinance book stood at Rs 2,259 crore, higher than Rs 1,988 crore in the June quarter. Delinquencies in the microfinance book were prominently from Bihar, Jharkhand and Maharashtra. The lender had posted a 39% fall in its September quarter net profit to Rs 1,325 crore on the back of higher provisions. “In the microfinance business we have to be a little watchful,” Sumant Kathpalia, MD, IndusInd Bank had said after announcing the lender’s September quarter earnings. Nominations for ET MSME Awards are now open. The last day to apply is December 31, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )SANTA CLARA, Calif. , Dec. 3, 2024 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the third quarter of fiscal year 2025. Net revenue for the third quarter of fiscal 2025 was $1.516 billion , $66 .0 million above the mid-point of the Company's guidance provided on August 29, 2024 . GAAP net loss for the third quarter of fiscal 2025 was $(676.3) million, or $(0.78) per diluted share. Non-GAAP net income for the third quarter of fiscal 2025 was $373 .0 million, or $0.43 per diluted share. Cash flow from operations for the third quarter was $536.3 million . "Marvell's fiscal third quarter 2025 revenue grew 19% sequentially, well above the mid-point of our guidance, driven by strong demand from AI. For the fourth quarter, we are forecasting another 19% sequential revenue growth at the midpoint of guidance, while year-over-year, we expect revenue growth to accelerate significantly to 26%, marking the beginning of a new era of growth for Marvell," said Matt Murphy , Marvell's Chairman and CEO. "The exceptional performance in the third quarter, and our strong forecast for the fourth quarter, are primarily driven by our custom AI silicon programs, which are now in volume production, further augmented by robust ongoing demand from cloud customers for our market-leading interconnect products. We look forward to a strong finish to this fiscal year and expect substantial momentum to continue in fiscal 2026." Fourth Quarter of Fiscal 2025 Financial Outlook GAAP diluted EPS is calculated using basic weighted-average shares outstanding when there is a GAAP net loss, and calculated using diluted weighted-average shares outstanding when there is a GAAP net income. Non-GAAP diluted EPS is calculated using diluted weighted-average shares outstanding. Conference Call Marvell will conduct a conference call on Tuesday, December 3, 2024 at 1:45 p.m. Pacific Time to discuss results for the third quarter of fiscal year 2025. Interested parties may join the conference call without operator assistance by registering and entering their phone number at https://emportal.ink/4fngg8m to receive an instant automated call back. To join the call with operator assistance, please dial 1-800-836-8184 or 1-646-357-8785. The call will be webcast and can be accessed at the Marvell Investor Relations website at http://investor.marvell.com/ . A replay of the call can be accessed by dialing 1-888-660-6345 or 1-646-517-4150, passcode 47973# until Tuesday, December 10, 2024 . Discussion of Non-GAAP Financial Measures Non-GAAP financial measures exclude the effect of stock-based compensation expense, amortization of acquired intangible assets, acquisition and divestiture-related costs, restructuring and other related charges (including, but not limited to, asset impairment charges, recognition of future contractual obligations, employee severance costs, and facilities related charges), resolution of legal matters, and certain expenses and benefits that are driven primarily by discrete events that management does not consider to be directly related to Marvell's core business. Although Marvell excludes the amortization of all acquired intangible assets from these non-GAAP financial measures, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase price accounting arising from acquisitions, and that such amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Investors should note that the use of intangible assets contributed to Marvell's revenues earned during the periods presented and are expected to contribute to Marvell's future period revenues as well. Marvell uses a non-GAAP tax rate to compute the non-GAAP tax provision. This non-GAAP tax rate is based on Marvell's estimated annual GAAP income tax forecast, adjusted to account for items excluded from Marvell's non-GAAP income, as well as the effects of significant non-recurring and period specific tax items which vary in size and frequency, and excludes tax deductions and benefits from acquired tax loss and credit carryforwards and changes in valuation allowance on acquired deferred tax assets. Marvell's non-GAAP tax rate is determined on an annual basis and may be adjusted during the year to take into account events that may materially affect the non-GAAP tax rate such as tax law changes; acquisitions; significant changes in Marvell's geographic mix of revenue and expenses; or changes to Marvell's corporate structure. For the third quarter of fiscal 2025, a non-GAAP tax rate of 7.0% has been applied to the non-GAAP financial results. Marvell believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to Marvell's financial condition and results of operations. While Marvell uses non-GAAP financial measures as a tool to enhance its understanding of certain aspects of its financial performance, Marvell does not consider these measures to be a substitute for, or superior to, financial measures calculated in accordance with GAAP. Consistent with this approach, Marvell believes that disclosing non-GAAP financial measures to the readers of its financial statements provides such readers with useful supplemental data that, while not a substitute for GAAP financial measures, allows for greater transparency in the review of its financial and operational performance. Externally, management believes that investors may find Marvell's non-GAAP financial measures useful in their assessment of Marvell's operating performance and the valuation of Marvell. Internally, Marvell's non-GAAP financial measures are used in the following areas: Non-GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of Marvell's business as determined in accordance with GAAP. As a result, you should not consider these measures in isolation or as a substitute for analysis of Marvell's results as reported under GAAP. The exclusion of the above items from our GAAP financial metrics does not necessarily mean that these costs are unusual or infrequent. Forward-Looking Statements under the Private Securities Litigation Reform Act of 1995 This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the "safe harbor" created by those sections. These statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results to differ materially from those implied by the forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "seeks," "estimates," "forecasts," "targets," "may," "can," "will," "would" and similar expressions identify such forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the statements describing our financial outlook and future period revenues. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including, but not limited to: risks related to changes in general macroeconomic conditions, or expectations of such conditions, such as high or rising interest rates, macroeconomic slowdowns, recessions, inflation, and stagflation; risks related to our ability to estimate customer demand and future sales accurately; our ability to define, design, develop and market products for the Cloud, 5G markets, and Artificial Intelligence (AI) markets; risks related to our dependence on a few customers for a significant portion of our revenue, particularly as our major customers comprise an increasing percentage of our revenue, as well as risks related to a significant portion of our sales being concentrated in the data center end market; risks related to higher inventory levels; risks related to cancellations, rescheduling or deferrals of significant customer orders or shipments, as well as the ability of our customers to manage inventory; our ability to realize the expected benefits from restructuring activities; the risk of downturns in the semiconductor industry or our customer end markets; the impact of international conflict (such as the current armed conflicts in the Ukraine and in Israel and the Gaza Strip ) and economic volatility in either domestic or foreign markets including risks related to trade conflicts or tensions, regulations, and tariffs, including but not limited to, trade restrictions imposed on our Chinese customers; our ability to retain and hire key personnel; our ability to limit costs related to defective products; risks related to our debt obligations; risks related to the rapid growth of the Company; delays or increased costs related to completing the design, development, production and introduction of our new products due to a variety of issues, including supply chain cross-dependencies, dependencies on EDA and similar tools, dependencies on the use of third-party, business partner or customer intellectual property, collaboration and synchronization requirements with business partners and customers, requirements to establish new manufacturing, testing, assembly and packing processes, and other issues; our reliance on our manufacturing partners for the manufacture, assembly, testing and packaging of our products; risks related to the ASIC business model which requires us to use third-party IP including the risk that we may lose business or experience reputational harm if third parties, including customers, lose confidence in our ability to protect their IP rights; the risks associated with manufacturing and selling products and customers' products outside of the United States ; our ability to secure design wins from our customers and prospective customers; our ability to complete and realize the anticipated benefits of any acquisitions, divestitures and investments; decreases in gross margin and results of operations in the future due to a number of factors, including high or increasing interest rates and volatility in foreign exchange rates; severe financial hardship or bankruptcy of one or more of our major customers; the effects of transitioning to smaller geometry process technologies; risks related to use of a hybrid work model; the impact of any change in the income tax laws in jurisdictions where we operate and the loss of any beneficial tax treatment that we currently enjoy; the outcome of pending or future litigation and legal and regulatory proceedings; risk related to our Sustainability program; the impact and costs associated with changes in international financial and regulatory conditions; our ability and the ability of our customers to successfully compete in the markets in which we serve; our ability and our customers' ability to develop new and enhanced products and the adoption of those products in the market; supply chain disruptions or component shortages that may impact the production of our products including our kitting process or may impact the price of components which in turn may impact our margins on any impacted products and any constrained availability from other electronic suppliers impacting our customers' ability to ship their products, which in turn may adversely impact our sales to those customers; our ability to scale our operations in response to changes in demand for existing or new products and services; risks associated with acquisition and consolidation activity in the semiconductor industry, including any consolidation of our manufacturing partners; our ability to protect our intellectual property; risks related to the impact of the COVID-19 pandemic (or future pandemics) which have impacted, and for which lingering effects may continue to impact our business, employees and operations, the transportation and manufacturing of our products, and the operations of our customers, distributors, vendors, suppliers, and partners; our maintenance of an effective system of internal controls; financial institution instability; and other risks detailed in our SEC filings from time to time. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect our business described in the "Risk Factors" section of our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed by us from time to time with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. About Marvell To deliver the data infrastructure technology that connects the world, we're building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world's leading technology companies for over 25 years, we move, store, process and secure the world's data with semiconductor solutions designed for our customers' current needs and future ambitions. Through a process of deep collaboration and transparency, we're ultimately changing the way tomorrow's enterprise, cloud, automotive, and carrier architectures transform—for the better. Marvell ® and the Marvell logo are registered trademarks of Marvell and/or its affiliates. Marvell Technology, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In millions, except per share amounts) Three Months Ended Nine Months Ended November 2, 2024 August 3, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net revenue $ 1,516.1 $ 1,272.9 $ 1,418.6 $ 3,949.9 $ 4,081.2 Cost of goods sold 1,166.7 685.3 867.4 2,485.1 2,451.7 Gross profit 349.4 587.6 551.2 1,464.8 1,629.5 Operating expenses: Research and development 488.6 486.7 481.1 1,451.4 1,436.6 Selling, general and administrative 205.3 197.3 213.0 602.5 622.0 Restructuring related charges 358.3 4.0 3.4 366.4 105.3 Total operating expenses 1,052.2 688.0 697.5 2,420.3 2,163.9 Operating loss (702.8) (100.4) (146.3) (955.5) (534.4) Interest expense (47.2) (48.4) (52.6) (144.4) (159.1) Interest income and other, net (0.5) 2.6 11.4 5.4 22.1 Interest and other loss, net (47.7) (45.8) (41.2) (139.0) (137.0) Loss before income taxes (750.5) (146.2) (187.5) (1,094.5) (671.4) Provision (benefit) for income taxes (74.2) 47.1 (23.2) (9.3) (130.7) Net loss $ (676.3) $ (193.3) $ (164.3) $ (1,085.2) $ (540.7) Net loss per share — basic $ (0.78) $ (0.22) $ (0.19) $ (1.25) $ (0.63) Net loss per share — diluted $ (0.78) $ (0.22) $ (0.19) $ (1.25) $ (0.63) Weighted-average shares: Basic 865.7 865.7 862.6 865.5 860.1 Diluted 865.7 865.7 862.6 865.5 860.1 Marvell Technology, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In millions) November 2, 2024 February 3, 2024 Assets Current assets: Cash and cash equivalents $ 868.1 $ 950.8 Accounts receivable, net 997.9 1,121.6 Inventories 859.4 864.4 Prepaid expenses and other current assets 91.4 125.9 Total current assets 2,816.8 3,062.7 Property and equipment, net 781.9 756.0 Goodwill 11,586.9 11,586.9 Acquired intangible assets, net 2,957.7 4,004.1 Deferred tax assets 406.5 311.9 Other non-current assets 1,165.8 1,506.9 Total assets $ 19,715.6 $ 21,228.5 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 538.1 $ 411.3 Accrued liabilities 825.2 1,032.9 Accrued employee compensation 270.9 262.7 Short-term debt 129.4 107.3 Total current liabilities 1,763.6 1,814.2 Long-term debt 3,965.5 4,058.6 Other non-current liabilities 613.6 524.3 Total liabilities 6,342.7 6,397.1 Stockholders' equity: Common stock 1.7 1.7 Additional paid-in capital 14,629.0 14,845.3 Accumulated other comprehensive income (loss) (0.3) 1.1 Accumulated deficit (1,257.5) (16.7) Total stockholders' equity 13,372.9 14,831.4 Total liabilities and stockholders' equity $ 19,715.6 $ 21,228.5 Marvell Technology, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Three Months Ended Nine Months Ended November 2, 2024None
Shares of Lockheed Martin Co. ( NYSE:LMT – Get Free Report ) shot up 0.8% on Thursday . The company traded as high as $529.99 and last traded at $525.75. Approximately 890,394 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 1,077,345 shares. The stock had previously closed at $521.45. Analyst Upgrades and Downgrades A number of equities analysts have issued reports on LMT shares. Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Robert W. Baird lifted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. increased their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $611.00. Get Our Latest Stock Analysis on LMT Lockheed Martin Stock Performance Lockheed Martin ( NYSE:LMT – Get Free Report ) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the firm earned $6.77 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts anticipate that Lockheed Martin Co. will post 26.94 earnings per share for the current year. Lockheed Martin Increases Dividend The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.49%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 45.62%. Hedge Funds Weigh In On Lockheed Martin A number of hedge funds and other institutional investors have recently modified their holdings of LMT. Bank of Montreal Can boosted its position in Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after buying an additional 2,019 shares during the last quarter. Old West Investment Management LLC grew its position in Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after buying an additional 1,643 shares during the period. Empower Advisory Group LLC increased its holdings in Lockheed Martin by 9.1% during the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after buying an additional 1,843 shares during the last quarter. Finally, Buck Wealth Strategies LLC bought a new stake in Lockheed Martin in the second quarter worth about $6,611,000. Hedge funds and other institutional investors own 74.19% of the company’s stock. Lockheed Martin Company Profile ( Get Free Report ) Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments. Featured Stories Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter .
Cerity Partners LLC Buys 214,868 Shares of Banco Santander, S.A. (NYSE:SAN)Yoshida Yasei’s “Override” easily took the top position in the Niconico VOCALOID SONGS TOP20 of 2024, announced by Billboard Japan on December 6. The song, which came out in November 2023, generated buzz thanks to its MAD or remix videos. Billboard Japan talked to Yoshida Yasei about how he felt about the success of the song. See latest videos, charts and news See latest videos, charts and news What led to “Override” racking up the views it did and becoming such a massive hit? Yoshida Yasei: Of all the songs I’ve released so far, “Override” had the fastest growth immediately after release. I thought that it had the potential to surpass “Laughin’,” which was my most famous song at the time. Then the number of plays started rising even faster at the start of this year, from around January 7. I was looking at the analytics info on Niconico and YouTube, and thinking, “Huh? Something’s going on here.” So you started to notice the memes. Yoshida Yasei: From around December, people started to create “Override” music remix videos, so I had this feeling that a derivative work boom might be coming on. The sudden increase in the number of remix videos at the start of the year caused the number of plays to rocket upward, and the buzz became a reality. After that, “Override” took the top position in the Niconico VOCALOID SONGS TOP20 for the first half of 2024, announced on June 7, and then in the Niconico VOCALOID SONGS TOP20 for 2024. Honestly, how did that make you feel? Yoshida Yasei: I was very happy. It felt like my song had become part of the culture. I thought that, given the amount of growth, this was a song that would live on in Vocaloid history. You know how on X (formerly Twitter), there are those posts that are like “Do you know this song?” and they have images of famous songs from each year? I was excited by the idea that “Override” would be used on one of those posts. It would be an honor to have one of my own songs included among all the distinguished famous songs on those lists. Looking at the lyrics, there’s a line that goes “It seems that a life of struggle, taking it to your very limits, is even crazier than what I’d imagined.” This feels, to me, like a very direct expression of frantic frustration. Yoshida Yasei: I made “Override” last October, over a year after leaving my previous work. At the time, I was truly desperate. “Override” was a song created by the physical embodiment of desperation. But, after the release, the song became a hit and I experienced being able to make a living from music. That gave me this tremendous sense of stability. The creation process was impulsive, so I didn’t really struggle with the melody that much. On the other hand, I did have to think deeply when I was writing the lyrics. Because of that, I have a lot of emotional investment in the song. So you worked through the difficult progress of writing the lyrics, but than people focused on the catchy melody and the distinctive choreography of the animated music video. They started meme-ing off them, which generated buzz. How does that make you feel? Yoshida Yasei: When I first started out as a Vocaloid producer, I wanted to make songs that led to the creation of a lot of derivative works and music video remixes. So, setting aside the issue of whether or not people’s creations matched the lyrics, I was happy about the whole phenomenon. I was watching like, “Huh, so this is another way things become popular. That’s pretty interesting.” The title “Override” is an IT term that refers to disregarding settings, properties, and the like and using different ones instead, right? Yoshida Yasei: Right. Once I’d decided on the title “Override,” I wrote lyrics that matched that aesthetic. Back when I was writing programs, I had this vague feeling that “life is all functions.” A function? Yoshida Yasei: Yes. A function is a system where you input something and the system outputs something else. In our lives, it’s like our birth supplies the input conditions and our death is the output of the function. Everything that happens in our lives—every event and every outcome—are a series of causes and effects. There are a countless number of these functions, chained together, so each person is like a program. I think some of those functions work against us. For example, your cultural capital differs depending on whether or not you were born in Tokyo. There are also functions that block access to things because of your bad luck. That’s where the concept of “Override” comes from. Overriding is like using a function with the same name to perform completely different operations. I think you can override these programs if you make enough of an effort, though. I see. Yoshida Yasei: I moved to Tokyo from Hokkaido last June. “Override” has the frantic frustration that I felt before I came to Tokyo and before “Override” became a hit. Living out in countryside, you face this downward spiral of “I don’t have access to this and I don’t have access to that.” By coming to Tokyo, I wanted to break this cycle. In other words, I wanted to overwrite the function that said “Input: You live in the countryside → Output: You have no access” with one that said “Input: You live in Tokyo → Output: You have access.” But, to be honest, when I had just moved, I was still in the same desperate situation I had been in before moving. You uploaded “Override” last November, and then the number of plays started skyrocketing. Although it did take a little time after coming Tokyo, it feels like you really did “override” your life. Yoshida Yasei: Indeed. Perhaps I overrode my fate. The chorus to “Override” has a very distinctive choreography that has quite a visual impact, so there are tons of people copying it. Where did that choreography come from? Yoshida Yasei: From the start, I had this mental image of meme-like movement, so I talked with illustrator Sisia, going into a lot of detail about what I wanted, like “I want an illustration like this” or “I want to keep this material separate from that material.” Sisia worked on the illustrations without knowing what the completed video would be like. I provided a lot of detail about the little jokes to be included and the way the art should look, and I’m really thankful about what wonderful illustrations they created. It sounds like you had a perfect balance of lyrical urgency and humor, which is what led to “Override” becoming the hit it’s become. Yoshida Yasei: Tongue-in-cheek memes were just right for balancing out the barbed lyrics, making it more joke-like. The music itself also has a light feel, but the sharp lyrics fit in smoothly. I feel like there was just this miraculous balance of different elements. I don’t think “Override” would have had the same feel if it were missing the memes or if the melody were different. Another thing that stood out is that after you uploaded the song, both in the comments on your own video and on X (formerly Twitter), you were actively encouraging people to make derivative works. Yoshida Yasei: I simply wanted there to be more derivative works, so I provided materials people could use and I shared works they made. It also felt a little like an experiment: “What would happen if a creator were actively involved in derivative works?” Ultimately, that generated buzz, and, like when the song broke the record for consecutive weeks in the charts, I was like “Oh, so this is how the story turns out.” As always, I looked at the whole thing from a third person perspective (laughs). 2024 was a year of overriding for you yourself, and it’s also the year in which “Override” carved its name in the Vocaloid charts. How do you feel looking back on this past year, in which “Override” led to so much creation? Yoshida Yasei: I experienced a lot of things this year that I’d never even imagined before. It was a year of major change for me. I was even surprised about how making new connections and meeting new people changed. So I really haven’t fully gotten my head around this year of tremendous change. In 2025, I hope to look back on my social media and photographs and gradually make some order out of all of it. — This interview by Mio Komachi first appeared on Billboard Japan
