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Economists polled by FactSet expect U.S. inflation to have risen just 0.1% last month and 3.3% from the year-ago period. Cracks in consumer data Investors will also watch for the October retail sales data for insight into the consumer, who has thus far proven resilient even in the face of higher interest rates and inflation. Investors will also be watching for the October producer price index (PPI) data on Wednesday, as well as housing data on Friday. Monday Nov. 13 Earnings: Tyson Foods Tuesday Nov. 14 8:30 a.m. CPI (October) 8:30 a.m. Hourly Earnings final (October) 8:30 a.m. Average Workweek final (October) Earnings: Home Depot , Charles Schwab Wednesday Nov. 15 8:30 a.m.
Persons: Amy Magnotta, It's, There's, Gregory Daco, he'll, Ned Davis Research's, Joe Kalish, NDR's Kalish, Jeff Klingelhofer, Magnotta, Tyson, Charles Schwab, John Williams Organizations: Federal, Dow Jones Industrial, Nasdaq, Federal Reserve, Ategenos, FactSet, Thornburg Investment Management, Walmart, CPI, PPI, Retail, Palo Alto Networks, Price, Philadelphia Fed, Manufacturing, . New York Federal Reserve, . Kansas City Fed Manufacturing, Ross Stores, Body, Housing Locations: . New, NAHB, . Kansas, Bath
CNBC Pro screened for the S & P 500 companies still reporting next week that analysts have expressed the most caution on — by cutting their earnings estimates ahead of the reports. Analyst consensus earnings estimates are down at least 5% over the past three months. Analyst consensus earnings estimates are down at least 5% over the past six months. CTLT YTD mountain Catalent YTD chart "Catalent (CTLT) became a very noticeable laggard in the life science space about fifteen months ago. Meat producer Tyson Foods , which is due to report earnings premarket on November 13, was also among the stocks with negative earnings momentum.
Persons: Gordon Haskett, Don Bilson, Bilson, Catalent, Michael Lasser, Lasser, Morgan Stanley, BBWI, Alex Straton, Tyson Foods, — CNBC's Michael Bloom Organizations: CNBC Pro, Biotechnology, Sarepta Therapeutics, Dystrophy, UBS, 3Q, Body Locations: Columbus , Ohio, Bath
Holiday spending will be sluggish as consumers grapple with inflation, but Bank of America thinks a handful of value retailers and specialty stores could see a boost. Bank of America projects holiday sales-weighted average same-store sales will rise 0.6% year over year for its retail universe. Here are the buy-rated retailers that could stand out amid broader retail softness, according to Bank of America. Sporting goods chain Academy Sports and Outdoors was also highlighted as a Bank of America favorite. "Consumers are looking for deals and will choose retailers offering the best value," Hutchinson said.
Persons: Lorraine Hutchinson, Hutchinson, Ralph Lauren, Tuesday's, Michael Bloom Organizations: Bank of America, Bank of America ., Walmart, Target, Sporting, Academy Sports Locations: Tuesday's
Bank of America reiterates Meta as buy Bank of America said it's standing by its buy rating after Meta's earnings report on Wednesday. Goldman Sachs reiterates ServiceNow as buy Goldman said it's standing by its buy rating on the stock after Wednesday's robust earnings report. "We are upgrading Adobe to a BUY rating and adding it to D.A. Bank of America initiates Paycom as buy Bank of America said it's bullish on the "fast growth" payroll and human resources company. "We are initiating coverage of Paycom with a Buy rating and $330 PO, implying upside of 30%.
Persons: Evercore, Piper Sandler, Apple, Piper, Goldman Sachs, ServiceNow, Goldman, Davidson, DA, Davidson's, Key, Oppenheimer, Cantor Fitzgerald, Cantor, Silver Lake, it's bullish, Redburn, Jefferies Organizations: Bank of America, Meta, Mac, TAM, Adobe, HSBC, Microsoft, Bank of America downgrades, Networks, of America, NASDAQ, Citi, Endeavor, Disney, Body, Northland Locations: China, Northland, Nextracker
The Wexner Foundation accused Harvard of a "dismal failure" to condemn the Hamas attacks last week. AdvertisementAdvertisement"In the absence of this clear moral stand, we have determined that the Harvard Kennedy School and The Wexner Foundation are no longer compatible partners. The foundation supports a fellowship for government and public service professionals from Israel who pursue a one-year degree from the Harvard Kennedy School. The Kennedy School did not immediately respond to Insider's request for comment on this story. He launched The Wexner Foundation in 1983 with the goal of "strengthening leadership for the Jewish people," according to the foundation's website.
Persons: Les Wexner, , Leslie, Abigail Wexner, Rabbi B, Abrahamson, Ra'anan, Jeffrey Epstein, Wexner, Epstein Organizations: Harvard, Wexner Foundation, Israel, Service, Ivy League, Wexner, Harvard Kennedy School, Kennedy School of, Israel Fellows, The Kennedy, Body Locations: Israel, Harvard
New York CNN —A nonprofit founded by former Victoria’s Secret billionaire Leslie Wexner and his wife Abigail is breaking off ties with Harvard University, alleging the school has been “tiptoeing” over Hamas’ terror attacks against Israel. Citing the “absence of this clear moral standard,” the Wexner Foundation said it has determined the Harvard Kennedy School is no longer a “compatible” partner for its organization. In a statement to CNN, Harvard reiterated comments by university leadership condemning both the attacks against Israel and terrorism. “We are grateful to the Wexner Foundation for its very longstanding support of student scholarships,” a Harvard spokesperson said in the statement. They feel abandoned,” the Wexner Foundation said.
Persons: Leslie Wexner, Abigail, , , Larry Summers, , ” Summers, Obama, Clinton, Idan Ofer, Batia, Claudine Gay, ” Gay, Gay, Harvard “, Les Wexner, Wexner, Jeffrey Epstein Organizations: New, New York CNN, Harvard University, Harvard, Forbes, Wexner, Harvard Kennedy School, CNN, Wexner Foundation, University, , North American Jewish, Kennedy School of Government, Israel Fellows, Body, Limited Brands Locations: New York, Israel, Bath
President Volodymyr Zelensky of Ukraine, denouncing Russia’s “unprovoked aggression,” told the U.N. Security Council on Wednesday that if it did not break the grip of Russian veto power, it would be powerless to resolve conflicts around the world, adding his voice to the rising calls to reform how the body works. “Ukrainian soldiers are doing with their blood what the U.N. Security Council should do by its voting,” Mr. Zelensky said on Wednesday, arguing that “veto power in the hands of the aggressor is what has pushed the U.N. into deadlock.”Mr. Zelensky’s appearance before the council helped make it the highest-level direct confrontation over the invasion of Ukraine, with Foreign Minister Sergey Lavrov of Russia and his American counterpart, Secretary of State Antony J. Blinken, taking the seats normally occupied by their ambassadors and stating their countries’ cases. Mr. Lavrov and Mr. Zelensky did not cross paths — the Russian did not enter the hall until after the Ukrainian had spoken and left — in a bit of choreography that reflected a session in which the two talked past each other.
Persons: Volodymyr Zelensky, Russia’s, , ” Mr, Zelensky, Mr, Sergey Lavrov, Russia, Antony J, Blinken, Lavrov Organizations: . Security Locations: Ukraine
JAKARTA, Indonesia (AP) — It took more than a day of flying, including two refueling stops, for Vice President Kamala Harris to reach this year’s summit of Southeast Asian countries. Political Cartoons on World Leaders View All 226 ImagesPolitical Cartoons View All 1146 ImagesThis was her third trip to Southeast Asia since taking office — Harris heads back to Washington on Thursday — and she's visited more countries here than any other region. Harris' approval ratings remain underwater, and her announcements in Southeast Asia tend to be counted in the millions of dollars rather than the billions. “Everybody works their own way.”Harris' travel to Southeast Asia began in her first year in office, when she visited Singapore and Vietnam, but the trip almost didn't happen. But she’s put in the work," said Gregory B. Poling, who directs the Southeast Asia program at the Center for Strategic and International Studies.
Persons: Kamala Harris, Harris, , ” Harris, — Harris, she's, , Jake Sullivan, Joe Biden’s, she’s, Sullivan, Dinna Prapto, Phil Gordon, ” Gordon, Gregory B, Poling, David Rothkopf, Bill Clinton, there’s “, Biden didn't, Ferdinand Marcos Jr, it’s, Edna Tarigan Organizations: United, Associated Press, Lowy Institute, Association of Southeast Asian Nations, ASEAN, U.S, , Center for Strategic, International Studies, Economic Cooperation, AP Locations: JAKARTA, Indonesia, United States, Washington, Southeast Asia, China, Central America, Asia, Australia, Beijing, Jakarta, Singapore, Vietnam, Afghanistan, South China, Thailand, Philippines, U.S, Philippine, Palawan
They now make up to $3,000 per month from dumpster diving, and post their dives on TikTok. AdvertisementAdvertisementWe make between $2,000 and $3,000 a month selling our dumpster dive trash treasures. But it's still rare that we see somebody else dumpster diving at the spots we go to in Buffalo. When some people hear the term "dumpster diving," they sometimes picture a rat-infested dumpster covered in food, or that we're digging through household trash. We view our dumpster diving efforts, particularly selling scrap metal to scrap yards, as "carbon credits" that offset the carbon emissions from our next plane flights.
Persons: David, Erin Sheffield, David Sheffield, we're, It's, We've, Joe's, Erin, we've, Organizations: Service, University at Buffalo, Walmart, Foods, Aldi, Body Works, Dick's Sporting Goods, Erin Sheffield Garage, eBay, Facebook, Body Locations: Wall, Silicon, Buffalo , New York, France, dumpsters, Norway, Mexico, TikTok, Buffalo
Her course lessons include chemical zombification, bacterial zombification and fungal zombification. Lauro, the University of Tampa professor, is scheduled to give a talk in Frankfurt, Germany, this month called, "Who's Afraid of Zombie Studies?" "The talk is pretty much entirely about this DeSantis nonsense, as well as what DeSantis is doing to education in Florida," Lauro said. Since DeSantis has taken aim at Black history, I think we can connect the dots on why the idea of 'zombie studies' gets under his skin so much. The first wave of zombie fiction hit the U.S. in the late 1920s, during the time of the Great Depression.
Persons: Ron DeSantis, Paul Hennessy, Lightrocket, Eric Smaw, DeSantis, Smaw, automatism, Tatiana Tatum, Tatum, Gino Del Guercio, Del Guercio, Lauro, Sarah Juliet Lauro Organizations: Florida Gov, Rollins College, Rollins College In, Saint Xavier University in, Getty, Harvard Magazine, University of Tampa, Studies, Florida's Department of Education Locations: Florida, Auburndale , Florida, Winter Park , Florida, Canadian, Saint Xavier University in Chicago, tetrodotoxin, pufferfish, Haiti, Frankfurt, Germany, Africa, Caribbean, Hollywood
Bath & Body Works sees steeper sales drop on slowing demand
  + stars: | 2023-08-23 | by ( ) www.reuters.com   time to read: +2 min
[1/2] Products are displayed in L Brands Inc., Bath & Body Works retail store in Manhattan, New York, U.S., May 13, 2016. REUTERS/Brendan McDermid Acquire Licensing RightsAug 23 (Reuters) - Bath & Body Works (BBWI.N) on Wednesday warned of a steeper decline in annual sales as Americans deferred purchasing its pricier home fragrances and personal care products amid still-high inflation pinching household budgets. Shares of the Ohio-based company fell about 2% in premarket trading after the retailer forecast current-quarter sales and profit below Street expectations. Bath & Body Works now expects annual net sales to decline between 1.5% and 3.5%, compared with its previous forecast of flat net sales to a mid-single-digit percentage decline. It also raised its annual profit forecast to adjusted earnings per share now expected to range between $2.80 and $3.10, compared with $2.68 and $3.08 previously expected.
Persons: Brendan McDermid, Estee Lauder, Juveria Tabassum, Shweta Agarwal Organizations: Brands Inc, Body Works, REUTERS, Body, Thomson Locations: Manhattan , New York, U.S, Ohio
Morning Bid: 'Flash' business funk and AI buzz
  + stars: | 2023-08-23 | by ( ) www.reuters.com   time to read: +4 min
Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Euro zone government bond yields and the euro tumbled as traders bet the European Central Bank may soon pause its interest-rate hike campaign, with money markets now pricing less than a 50% chance of further tightening. The dollar (.DXY) hit its highest since early June as both the euro and sterling took a hit. Existing home sales dropped to a six-month low in July, with new home sales numbers due later today. European and Japanese shares were up smartly too, but mainland Chinese stocks (.CSI300) underperformed yet again and dropped another 1%-plus.
Persons: Mike Segar, Mike Dolan, Wednesday's, John Stonestreet Organizations: Wall, New York Stock Exchange, REUTERS, Micron Technology, European Central Bank, Treasury, Federal, Jackson, Nvidia, Apple, Microsoft, Devices, Autodesk, Advance, Thomson, Reuters Locations: Manhattan, New York City , New York, U.S, Europe, Philadelphia, United States, Johannesburg
A flurry of buyback activity should give the equity market a boost in the coming weeks, and some stocks stand to benefit more than others, according to Goldman Sachs. August has seen strong repurchase volume from large-cap companies with executions standing at about 40% above the average 2023 level, Goldman said. Goldman's buyback basket of 50 sector-neutral companies with above-average repurchase activity has historically performed particularly well following the second-quarter earnings season, Goldman said. The stocks in Goldman's basket included Tapestry , Lockheed Martin, HP , Dollar General , Applied Materials and Bath & Body Works . Still, higher interest rates could cause a slowdown in buybacks this year as many companies tend to issue debt to repurchase stocks.
Persons: Goldman Sachs, Goldman, David Kostin, Lockheed Martin Organizations: HP, Dollar, Applied Materials, Body
Data shows a 2,200% increase in pumpkin spice items for sale. On Wednesday, Starbucks announced that its fall lineup, which includes its famous pumpkin spice latte, will be released on Thursday, August 24. This year marks the 20th anniversary of the pumpkin spice latte's release. Over the past decade, the latest date Starbucks released the fall lineup was in 2015, when the lineup dropped on September 8. Competing coffee chain Dunkin' reintroduced its fall lineup on August 16.
Persons: Dunkin, Krispy, It's, it's, Samuel Adams Organizations: Service, Starbucks Locations: Wall, Silicon, America, Bath
Some investors are betting on rate cuts as soon as early next year, perhaps on expectations that the economy might soon deteriorate. If unemployment spikes because of higher interest rates, for example, the Fed would likely cut rates to stem job losses under its mandate of maximum employment. The Fed’s tough talk has rattled the bond market, helping push up long-dated yields. In addition to the possibility of cutting rates because of an economic downturn, the Fed could also cut rates if inflation slows too much. “If the Fed sees that inflation goes below the 2% target, they could start decreasing interest rates, but I don’t think they are going to start decreasing interest rates until that happens,” said Eugenio Alemán, chief economist at Raymond James.
Persons: there’s, Rather, Austan Goolsbee, Mike Hackett, they’ve, , Eugenio Alemán, Raymond James, Melissa Brown, China’s ‘ Lehman, Laura, Mengchen Zhang, Technology —, Zhongrong, Read, Thomas Barkin, Michelle Bowman, Kansas City Fed’s, Jerome Powell, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, Federal, Federal Reserve Bank of Chicago, Treasury, Nationwide, CNN, Fed, Service, KBC Corporation, Xianheng, Science, Technology, National Association of Realtors, Body, Nvidia, Kansas City, Global, US Commerce Department, Labor Department, Central Bank Locations: Washington, , China, BJ’s, Abercrombie, Kansas
All three major U.S stock indices pulled back this week, as earnings season wound down and retail earnings painted a mixed picture of the state of the economy. Looking to next week, we'll be watching how shares of Club name Palo Alto Networks (PANW) open on Monday. With mortgage rates hitting the highest level in over two decades this week, affordability remains a major impediment for the housing market. Earnings : Club name Foot Locker (FL) reports quarterly results Wednesday before the opening bell, while Club holding Nvidia (NVDA) releases after the close that same day. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: we'll, Locker, Mary Dillon, Lowe's, Jim Cramer's, Jim Cramer, Jim, Kelter Davis Organizations: Nasdaq, Dow Jones, TJX, Walmart, Federal Reserve, U.S, Palo Alto Networks, Palo, Club, Nvidia, Lufax, Baidu, Dick's Sporting, Coty, COTY, Urban Outfitters, Parts, Devices, Sonoma, Body, Abercrombie, Fitch, Autodesk, TD Bank, Royal Bank of Canada, Marvell Technology, Intuit, Nordstrom, Jim Cramer's Charitable, CNBC, Shoppers, Bloomberg, Getty Locations: U.S, China, Friday's, Williams, Burlington, Chicago , Illinois
The week ahead will "revolve around three things," Infrastructure Capital Management CEO Jay Hatfield remarked on the week ahead. "Nvidia's earnings, Nvidia's earnings and, to a lesser degree, Jackson Hole." Nvidia earnings Many investors expect Nvidia will beat expectations for the second quarter when it reports results next Wednesday . More commentary from Jackson Hole If Nvidia is the key microeconomic event next week, Jackson Hole will dominate macroeconomic discussion. Powell delivers his address at the annual central bank forum hosted by the Kansas City Fed next Friday morning.
Persons: Jerome Powell, Jay Hatfield, Jackson, Management's Yung, Yu Ma, Hans Mosesmann, Hatfield, Powell, Ross Mayfield, Ray Farris, Fed Governor Bowman, Michael Bloom Organizations: Federal, Infrastructure Capital Management, Dow, Nasdaq, Treasury, Fitch, Federal Reserve, BMO, Nvidia, Rosenblatt Securities, Infrastructure Capital Management's, Kansas City Fed, Fed, Infrastructure Capital, Credit Suisse, Richmond Fed, Federal Reserve Bank of Chicago, PMI, New, Body, Devices, Autodesk, Chicago, . Kansas City Fed Manufacturing, Intuit, Ulta Locations: , Wyoming, China, Infrastructure Capital Management's Hatfield, Powell, . Kansas, Michigan
What Extreme Heat Does to Your Body
  + stars: | 2023-08-10 | by ( Dana G. Smith | ) www.nytimes.com   time to read: +6 min
What Extreme Heat Does to Your BodyHeat is the leading cause of weather-related deaths in the United States. While the human body is able to withstand high temperatures, unprecedented extreme heat driven by climate change is challenging our ability to adapt. (A fever can also cause body temperatures this high, especially in children, but it won’t lead to the same cascade of problems.) Heat stroke occurs when the body reaches an internal temperature of 104 degrees and above. The defining characteristic of heat stroke is confusion and delirium as the brain becomes overheated and starved of oxygen.
Locations: United States
Goldman Sachs highlighted a slew of stocks on its U.S. "conviction list — director's cut" selection, naming several "most differentiated buy recommendations," in an August 1 research note. Goldman's "directors' cut" is a list of stocks chosen by its U.S. research analysts and managers. The bank collated a list of "top ideas that offer a combination of conviction, a differentiated view and high risk-adjusted returns," before shortlisting 20 to 25 names. Industrial names on the bank's "directors' cut" list included several that Goldman said are benefiting from post-pandemic demand, such as building services firm Johnson Controls and waste disposal company Republic Services . Goldman's note also included a "What has worked" heading, under which its analysts named three stocks.
Persons: Goldman Sachs, Goldman's, Goldman, Johnson, Baker Hughes, – EBITDA, JB Hunt, Jordan Alliger, Michael Bloom Organizations: Apple, Healthcare, Merck, Services, Consumer, Body, International, Chevron, JPMorgan
Gap — The retail stock climbed nearly 4% after Barclays upgraded Gap to overweight from equal weight. Incyte — Shares rose 2% after Incyte beat analysts' expectations in its latest results. The pharmaceutical company reported second-quarter revenue of $954.6 million, exceeding the FactSet consensus estimate of $909.7 million. ZoomInfo Technologies — Shares sank by nearly 20% in premarket trading after the data company reported a weak outlook for third-quarter revenue. Arista Networks — Shares advanced 13.6% in premarket trading after the company reported after the bell Monday that its quarterly earnings topped analysts' expectations.
Persons: Michael Perito, Perito, Estee Lauder, Adrienne Yih, Incyte, Herve Hoppenot, Dara Khosrowshahi, Merck, Monday's, Macheel, Alex Harring, Yun Li, Sarah Min, Michelle Fox Theobald Organizations: SoFi Technologies, Barclays, Body, Caterpillar —, Caterpillar, Merck —, Pfizer, Toyota, Refinitiv, Arista Networks —, Arista, Revenue Locations: China, Monday's, Jakafi, Refinitiv
Goldman Sachs says it's a good time for investors to eye single stock options ahead of a slate of quarterly results. The firm compiled a list of stocks Goldman labels as "out-of-consensus opportunities" for put and call options ahead of each company's quarterly earnings report date. Goldman sees 3% upside to earnings consensus for the current quarter and 4% upside for the next four quarters. Goldman Sachs retail analyst Kate McShane is forecasting 34% upside for the stock over the next 12 months. Ahead of upcoming results, Goldman recommends buying call options for a $37.50 strike price, expiring in August.
Persons: Goldman Sachs, it's, John Marshall, Goldman, Toshiya Hari, NVDA, Kate McShane, BBWI, Eric Sheridan, — CNBC's Michael Bloom Organizations: Goldman, CNBC Pro, Nvidia, Body, eBay, EBAY
Bernie Marcus, a co-founder of Home Depot, had some negative things to say about his fellow Americans in an interview last December. “Socialism,” he opined, has destroyed the work ethic: “Nobody works. I don’t want to work — I’m too lazy, I’m too fat, I’m too stupid.’”You’re naïve if you think his take is exceptional. But everyone else should know that over the past year we have, in effect, conducted a huge test of the proposition that Americans have become lazy. And the robustness of the American work ethic has huge implications for policy.
Persons: Bernie Marcus, , , I’m, we’ve, they’re Organizations: Home Locations: America
Bank of America's top stock picks for the third quarter
  + stars: | 2023-07-04 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +3 min
Bank of America is out with its latest short-term stock picks as the third trading quarter of the year gets underway. "Over the last quarter, the BofA Macro view has evolved," strategist Anthony Cassamassino wrote in a note Monday. Bank of America gathered its 10 best ideas for the new quarter, all of them buy-rated, Cassamassino said. The bank also sees multiple growth drivers this year and improvements in merchandise margins as cost inflation and freight expenses normalize. Its $135 price target on the stock is more than 50% above its closing price Friday.
Persons: Anthony Cassamassino, Savita Subramanian, Michael Hartnett, Michael Gapen, Stephen Suttmeier, Cassamassino, it's, Lamb Weston, Wells, defensibility Organizations: of America, U.S, Our U.S . Economist, " Bank of America, Body, Bank of America, Disney, Wells Fargo Locations: Our
Online brands like Warby Parker and Allbirds are also opening brick and mortar shops. Brands that have moved away from department stores and physical shops in recent years are now pivoting back to traditional retail tactics after experiencing first-hand the difficulty of acquiring and retaining customers directly online. And they're not alone: even digital-first brands like Warby Parker and Allbirds have also opened new physical storefronts. A recent study by UBS predicted that retail stores would continue to close over the next five years and estimated that 50,000 shops would disappear by 2028. Nike has also recently announced that it's expanding partnerships with other physical retailers like Designer Brands and Foot Locker after years of steadily cutting its wholesale relationships.
Persons: it's, Warby Parker, Allbirds, , they're, Simeon Siegel, Noble, Locker Organizations: Nike, Service, Brands, Journal ., Interim, Getty, BMO Capital Markets, International Council of Shopping Centers, Ross Stores, Barnes, Body Works, Walmart, UBS Locations: Macy's, Burlington
The economy is showing signs of resiliency, which could mean big gains for some retail stocks. Analysts are also generally bullish on the stock with an average rating of overweight and a consensus price target implying upside of 46%. Target, meanwhile, trades at a relative valuation ratio of 0.70, with analysts on average expecting a 36% gain over the next 12 months. Other stocks that made our list include Bath & Body Works , Chefs' Warehouse , Signet Jewelers and Victoria's Secret . Bottom line: For investors looking to bet on a resilient economy, these stocks could be a way of doing it at a discount.
Persons: Greg Melich, Bud, Melich, Ulta Organizations: CNBC, InBev, Body, Chefs, Signet Jewelers
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