Though the Near - Term Tax Free Fund seeks minimal fluctuations in share price, it is subject to the risk that the credit quality of a portfolio holding could decline, as well as risk related to
changes in the economic conditions of a state, region or issuer.
This uncertain scenario can be changed with the few
changes in the economic conditions of United States.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected
in such forward - looking statements and that should be considered
in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability
of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost
of accommodating, announced increases
in the build rates
of certain aircraft; 6) the effect on aircraft demand and build rates
of changing customer preferences for business aircraft, including the effect
of global
economic conditions on the business aircraft market and expanding conflicts or political unrest
in the Middle East or Asia; 7) customer cancellations or deferrals as a result
of global
economic uncertainty or otherwise; 8) the effect
of economic conditions in the industries and markets
in which we operate
in the U.S. and globally and any
changes therein, including fluctuations
in foreign currency exchange rates; 9) the success and timely execution
of key milestones such as the receipt
of necessary regulatory approvals, including our ability to obtain
in a timely fashion any required regulatory or other third party approvals for the consummation
of our announced acquisition
of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability
of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk
of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production
of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts
of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak
of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact
of future discount rate
changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition
of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect
of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both
in the U.S. and abroad; 20) the effect
of changes in tax law, such as the effect
of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and
changes to the interpretations
of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect
of such
changes; 21) any reduction
in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability
of raw materials and purchased components; 23) our ability to recruit and retain a critical mass
of highly - skilled employees and our relationships with the unions representing many
of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment
of interest on, and principal
of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness
of any interest rate hedging programs; 28) the effectiveness
of our internal control over financial reporting; 29) the outcome or impact
of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition
of Asco
in a timely matter while avoiding any unexpected costs, charges, expenses, adverse
changes to business relationships and other business disruptions for ourselves and Asco as a result
of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks
of doing business internationally, including fluctuations
in foreign current exchange rates, impositions
of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Actual operational and financial results
of SkyWest, SkyWest Airlines and ExpressJet will likely also vary, and may vary materially, from those anticipated, estimated, projected or expected for a number
of other reasons, including,
in addition to those identified above: the challenges and costs
of integrating operations and realizing anticipated synergies and other benefits from the acquisition
of ExpressJet; the challenges
of competing successfully
in a highly competitive and rapidly
changing industry; developments associated with fluctuations
in the economy and the demand for air travel; the financial stability
of SkyWest's major partners and any potential impact
of their financial
condition on the operations
of SkyWest, SkyWest Airlines, or ExpressJet; fluctuations
in flight schedules, which are determined by the major partners for whom SkyWest's operating airlines conduct flight operations; variations
in market and
economic conditions; significant aircraft lease and debt commitments; residual aircraft values and related impairment charges; labor relations and costs; the impact
of global instability; rapidly fluctuating fuel costs, and potential fuel shortages; the impact
of weather - related or other natural disasters on air travel and airline costs; aircraft deliveries; the ability to attract and retain qualified pilots and other unanticipated factors.
the impact
of investment (including
changes in interest rates),
economic (including inflation, recent
changes in tax law, rapid
changes in commodity prices and fluctuations
in foreign currency exchange rates) and underwriting market
conditions;
Certain matters discussed
in this news release are forward - looking statements that involve a number
of risks and uncertainties including, but not limited to, doubts about the Company's ability to continue as a going concern, the need to obtain additional funding, risks
in product development plans and schedules, rapid technological
change,
changes and delays
in product approval and introduction, customer acceptance
of new products, the impact
of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights
of the Company and its competitors, risk
of operations
in Israel, government regulations, dependence on third parties to manufacture products, general
economic conditions and other risk factors detailed
in the Company's filings with the United States Securities and Exchange Commission.
Actual results and the timing
of events could differ materially from those anticipated
in the forward - looking statements due to these risks and uncertainties as well as other factors, which include, without limitation: the uncertain timing
of, and risks relating to, the executive search process; risks related to the potential failure
of eptinezumab to demonstrate safety and efficacy
in clinical testing; Alder's ability to conduct clinical trials and studies
of eptinezumab sufficient to achieve a positive completion; the availability
of data at the expected times; the clinical, therapeutic and commercial value
of eptinezumab; risks and uncertainties related to regulatory application, review and approval processes and Alder's compliance with applicable legal and regulatory requirements; risks and uncertainties relating to the manufacture
of eptinezumab; Alder's ability to obtain and protect intellectual property rights, and operate without infringing on the intellectual property rights
of others; the uncertain timing and level
of expenses associated with Alder's development and commercialization activities; the sufficiency
of Alder's capital and other resources; market competition;
changes in economic and business
conditions; and other factors discussed under the caption «Risk Factors»
in Alder's Annual Report on Form 10 - K for the fiscal year ended December 31, 2017, which was filed with the Securities and Exchange Commission (SEC) on February 26, 2018, and is available on the SEC's website at www.sec.gov.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic conditions in the industries and markets
in which United Technologies and Rockwell Collins operate
in the U.S. and globally and any
changes therein, including financial market
conditions, fluctuations
in commodity prices, interest rates and foreign currency exchange rates, levels
of end market demand
in construction and
in both the commercial and defense segments
of the aerospace industry, levels
of air travel, financial
condition of commercial airlines, the impact
of weather
conditions and natural disasters and the financial
condition of our customers and suppliers; (2) challenges
in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature, impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired businesses into United Technologies» existing businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to be incurred by United Technologies
in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including
in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including credit market
conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies» common stock, which may be suspended at any time due to various factors, including market
conditions and the level
of other investing activities and uses
of cash, including
in connection with the proposed acquisition
of Rockwell; (7) delays and disruption
in delivery
of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits
of organizational
changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact
of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political
conditions in the U.S. and other countries
in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market
conditions, global trade policies and currency exchange rates
in the near term and beyond; (16) the effect
of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations
in the U.S. and other countries
in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result
in the imposition
of conditions that could adversely affect the combined company or the expected benefits
of the merger) and to satisfy the other
conditions to the closing
of the pending acquisition on a timely basis or at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including
in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted
in their operation
of their businesses while the merger agreement is
in effect; (21) risks relating to the value
of the United Technologies» shares to be issued
in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
Among the factors that could cause actual results to differ materially are the following: (1) worldwide
economic, political, and capital markets
conditions and other factors beyond the Company's control, including natural and other disasters or climate
change affecting the operations
of the Company or its customers and suppliers; (2) the Company's credit ratings and its cost
of capital; (3) competitive
conditions and customer preferences; (4) foreign currency exchange rates and fluctuations
in those rates; (5) the timing and market acceptance
of new product offerings; (6) the availability and cost
of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (7) the impact
of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (8) generating fewer productivity improvements than estimated; (9) unanticipated problems or delays with the phased implementation
of a global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company's information technology infrastructure; (10) financial market risks that may affect the Company's funding obligations under defined benefit pension and postretirement plans; and (11) legal proceedings, including significant developments that could occur
in the legal and regulatory proceedings described
in the Company's Annual Report on Form 10 - K for the year ended Dec. 31, 2017, and any subsequent quarterly reports on Form 10 - Q (the «Reports»).
These risks include,
in no particular order, the following: the trends toward more high - definition, on - demand and anytime, anywhere video will not continue to develop at its current pace or will expire; the possibility that our products will not generate sales that are commensurate with our expectations or that our cost
of revenue or operating expenses may exceed our expectations; the mix
of products and services sold
in various geographies and the effect it has on gross margins; delays or decreases
in capital spending
in the cable, satellite, telco, broadcast and media industries; customer concentration and consolidation; the impact
of general
economic conditions on our sales and operations; our ability to develop new and enhanced products
in a timely manner and market acceptance
of our new or existing products; losses
of one or more key customers; risks associated with our international operations; exchange rate fluctuations
of the currencies
in which we conduct business; risks associated with our CableOS ™ and VOS ™ product solutions; dependence on market acceptance
of various types
of broadband services, on the adoption
of new broadband technologies and on broadband industry trends; inventory management; the lack
of timely availability
of parts or raw materials necessary to produce our products; the impact
of increases
in the prices
of raw materials and oil; the effect
of competition, on both revenue and gross margins; difficulties associated with rapid technological
changes in our markets; risks associated with unpredictable sales cycles; our dependence on contract manufacturers and sole or limited source suppliers; and the effect on our business
of natural disasters.
All expressions
of opinion are subject to
change without notice
in reaction to shifting market,
economic and geo - political
conditions.
These risks and uncertainties include competition and other
economic conditions including fragmentation
of the media landscape and competition from other media alternatives;
changes in advertising demand, circulation levels and audience shares; the Company's ability to develop and grow its online businesses; the Company's reliance on revenue from printing and distributing third - party publications;
changes in newsprint prices; macroeconomic trends and
conditions; the Company's ability to adapt to technological
changes; the Company's ability to realize benefits or synergies from acquisitions or divestitures or to operate its businesses effectively following acquisitions or divestitures; the Company's success
in implementing expense mitigation efforts; the Company's reliance on third - party vendors for various services; adverse results from litigation, governmental investigations or tax - related proceedings or audits; the Company's ability to attract and retain employees; the Company's ability to satisfy pension and other postretirement employee benefit obligations;
changes in accounting standards; the effect
of labor strikes, lockouts and labor negotiations; regulatory and judicial rulings; the Company's indebtedness and ability to comply with debt covenants applicable to its debt facilities; the Company's ability to satisfy future capital and liquidity requirements; the Company's ability to access the credit and capital markets at the times and
in the amounts needed and on acceptable terms; and other events beyond the Company's control that may result
in unexpected adverse operating results.
During periods
of adverse
changes in general
economic, industry or competitive
conditions, such as we experienced
in calendar years 2008 and 2009, some
of our vendors may experience serious cash flow issues, reductions
in available credit from banks, factors or other financial institutions, or increases
in the cost
of capital.
This session will focus on understanding potential perils — from food crises to pandemics and from climate catastrophes to human migration — that aren't top -
of - mind
in most boardrooms, but could enable CEOs to better navigate
changing economic conditions and markets.
These statements may involve a number
of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance
of financial markets, the investment performance
of NexPoint Advisors, L.P.'s or Highland Capital Management L.P.'s sponsored investment products, general
economic conditions, future acquisitions, competitive
conditions and government regulations, including
changes in tax laws.
Real estate investing includes risks such as declines
in value
of real estate,
changing economic conditions, tax laws or property taxes.
Factors that could cause actual results to differ include general business and
economic conditions and the state
of the solar industry; governmental support for the deployment
of solar power; future available supplies
of high - purity silicon; demand for end - use products by consumers and inventory levels
of such products
in the supply chain;
changes in demand from significant customers;
changes in demand from major markets such as Japan, the U.S., India and China;
changes in customer order patterns;
changes in product mix; capacity utilization; level
of competition; pricing pressure and declines
in average selling prices; delays
in new product introduction; delays
in utility - scale project approval process; delays
in utility - scale project construction; delays
in the completion
of project sales; continued success
in technological innovations and delivery
of products with the features customers demand; shortage
in supply
of materials or capacity requirements; availability
of financing; exchange rate fluctuations; litigation and other risks as described
in the Company's SEC filings, including its annual report on Form 20 - F filed on April 27, 2017.
Factors that could cause actual results to differ include general business and
economic conditions and the state
of the solar industry; governmental support for the deployment
of solar power; future available supplies
of high - purity silicon; demand for end - use products by consumers and inventory levels
of such products
in the supply chain;
changes in demand from significant customers;
changes in demand from major markets such as Japan, the U.S., India and China;
changes in customer order patterns;
changes in product mix; capacity utilization; level
of competition; pricing pressure and declines
in average selling prices; delays
in new product introduction; delays
in utility - scale project approval process; delays
in utility - scale project construction; continued success
in technological innovations and delivery
of products with the features customers demand; shortage
in supply
of materials or capacity requirements; availability
of financing; exchange rate fluctuations; litigation and other risks as described
in the Company's SEC filings, including its annual report on Form 20 - F filed on April 20, 2016.
Forward - looking statements may include, among others, statements concerning our projected adjusted income (loss) from operations outlook for 2018, on both a consolidated and segment basis; projected total revenue growth and global medical customer growth, each over year end 2017; projected growth beyond 2018; projected medical care and operating expense ratios and medical cost trends; our projected consolidated adjusted tax rate; future financial or operating performance, including our ability to deliver personalized and innovative solutions for our customers and clients; future growth, business strategy, strategic or operational initiatives;
economic, regulatory or competitive environments, particularly with respect to the pace and extent
of change in these areas; financing or capital deployment plans and amounts available for future deployment; our prospects for growth
in the coming years; the proposed merger (the «Merger») with Express Scripts Holding Company («Express Scripts») and other statements regarding Cigna's future beliefs, expectations, plans, intentions, financial
condition or performance.
Such risks and uncertainties include, but are not limited to: our ability to achieve our financial, strategic and operational plans or initiatives; our ability to predict and manage medical costs and price effectively and develop and maintain good relationships with physicians, hospitals and other health care providers; the impact
of modifications to our operations and processes; our ability to identify potential strategic acquisitions or transactions and realize the expected benefits
of such transactions, including with respect to the Merger; the substantial level
of government regulation over our business and the potential effects
of new laws or regulations or
changes in existing laws or regulations; the outcome
of litigation, regulatory audits, investigations, actions and / or guaranty fund assessments; uncertainties surrounding participation
in government - sponsored programs such as Medicare; the effectiveness and security
of our information technology and other business systems; unfavorable industry,
economic or political
conditions, including foreign currency movements; acts
of war, terrorism, natural disasters or pandemics; our ability to obtain shareholder or regulatory approvals required for the Merger or the requirement to accept
conditions that could reduce the anticipated benefits
of the Merger as a
condition to obtaining regulatory approvals; a longer time than anticipated to consummate the proposed Merger; problems regarding the successful integration
of the businesses
of Express Scripts and Cigna; unexpected costs regarding the proposed Merger; diversion
of management's attention from ongoing business operations and opportunities during the pendency
of the Merger; potential litigation associated with the proposed Merger; the ability to retain key personnel; the availability
of financing, including relating to the proposed Merger; effects on the businesses as a result
of uncertainty surrounding the proposed Merger; as well as more specific risks and uncertainties discussed
in our most recent report on Form 10 - K and subsequent reports on Forms 10 - Q and 8 - K available on the Investor Relations section
of www.cigna.com as well as on Express Scripts» most recent report on Form 10 - K and subsequent reports on Forms 10 - Q and 8 - K available on the Investor Relations section
of www.express-scripts.com.
Factors that could cause actual results to differ include general business and
economic conditions and the state
of the solar industry; governmental support for the deployment
of solar power; future available supplies
of high - purity silicon; demand for end - use products by consumers and inventory levels
of such products
in the supply chain;
changes in demand from significant customers;
changes in demand from major markets such as Japan, the U.S., India and China;
changes in customer order patterns;
changes in product mix; capacity utilization; level
of competition; pricing pressure and declines
in average selling prices; delays
in new product introduction; delays
in utility - scale project approval process; delays
in utility - scale project construction; cancelation
of utility - scale feed -
in - tariff contracts
in Japan; continued success
in technological innovations and delivery
of products with the features customers demand; shortage
in supply
of materials or capacity requirements; availability
of financing; exchange rate fluctuations; litigation and other risks as described
in the Company's SEC filings, including its annual report on Form 20 - F filed on April 27, 2017.
Performance
of companies
in the financials sector may be adversely impacted by many factors, including, among others, government regulations,
economic conditions, credit rating downgrades,
changes in interest rates, and decreased liquidity
in credit markets.
Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those
in the forward - looking statements include, but are not limited to, increased competition; the Company's ability to maintain, extend and expand its reputation and brand image; the Company's ability to differentiate its products from other brands; the consolidation
of retail customers; the Company's ability to predict, identify and interpret
changes in consumer preferences and demand; the Company's ability to drive revenue growth
in its key product categories, increase its market share, or add products; an impairment
of the carrying value
of goodwill or other indefinite - lived intangible assets; volatility
in commodity, energy and other input costs;
changes in the Company's management team or other key personnel; the Company's inability to realize the anticipated benefits from the Company's cost savings initiatives;
changes in relationships with significant customers and suppliers; execution
of the Company's international expansion strategy;
changes in laws and regulations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; failure to successfully integrate the Company; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures;
economic and political
conditions in the nations
in which the Company operates; the volatility
of capital markets; increased pension, labor and people - related expenses; volatility
in the market value
of all or a portion
of the derivatives that the Company uses; exchange rate fluctuations; disruptions
in information technology networks and systems; the Company's inability to protect intellectual property rights; impacts
of natural events
in the locations
in which the Company or its customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; the Company's dividend payments on its Series A Preferred Stock; tax law
changes or interpretations; pricing actions; and other factors.
Sales
of high - end and luxury consumer products, such as our performance electric vehicles, depend
in part on discretionary consumer spending and are even more exposed to adverse
changes in general
economic conditions.
Moreover, some
of our wholesale and retail distributors may have insufficient financial resources and may not be able to withstand
changes in business
conditions, including
economic weakness and industry consolidation.
BlackBerry's ability to manage inventory and asset risk; BlackBerry's reliance on suppliers
of functional components for its products and risks relating to its supply chain; BlackBerry's ability to obtain rights to use software or components supplied by third parties; BlackBerry's ability to successfully maintain and enhance its brand; risks related to government regulations, including regulations relating to encryption technology; BlackBerry's ability to continue to adapt to recent board and management
changes and headcount reductions; reliance on strategic alliances with third - party network infrastructure developers, software platform vendors and service platform vendors; BlackBerry's reliance on third - party manufacturers; potential defects and vulnerabilities
in BlackBerry's products; risks related to litigation, including litigation claims arising from BlackBerry's practice
of providing forward - looking guidance; potential charges relating to the impairment
of intangible assets recorded on BlackBerry's balance sheet; risks as a result
of actions
of activist shareholders; government regulation
of wireless spectrum and radio frequencies; risks related to
economic and geopolitical
conditions; risks associated with acquisitions; foreign exchange risks; and difficulties
in forecasting BlackBerry's financial results given the rapid technological
changes, evolving industry standards, intense competition and short product life cycles that characterize the wireless communications industry, and the company's previously disclosed review
of strategic alternatives.
Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those
in the forward - looking statements include, but are not limited to, operating
in a highly competitive industry;
changes in the retail landscape or the loss
of key retail customers; the Company's ability to maintain, extend and expand its reputation and brand image; the impacts
of the Company's international operations; the Company's ability to leverage its brand value; the Company's ability to predict, identify and interpret
changes in consumer preferences and demand; the Company's ability to drive revenue growth
in its key product categories, increase its market share, or add products; an impairment
of the carrying value
of goodwill or other indefinite - lived intangible assets; volatility
in commodity, energy and other input costs;
changes in the Company's management team or other key personnel; the Company's ability to realize the anticipated benefits from its cost savings initiatives;
changes in relationships with significant customers and suppliers; the execution
of the Company's international expansion strategy; tax law
changes or interpretations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures;
economic and political
conditions in the United States and
in various other nations
in which we operate; the volatility
of capital markets; increased pension, labor and people - related expenses; volatility
in the market value
of all or a portion
of the derivatives we use; exchange rate fluctuations; risks associated with information technology and systems, including service interruptions, misappropriation
of data or breaches
of security; the Company's ability to protect intellectual property rights; impacts
of natural events
in the locations
in which we or the Company's customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; the Company's ownership structure; the impact
of future sales
of its common stock
in the public markets; the Company's ability to continue to pay a regular dividend;
changes in laws and regulations; restatements
of the Company's consolidated financial statements; and other factors.
Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those
in the forward - looking statements include, but are not limited to, increased competition; the Company's ability to maintain, extend and expand its reputation and brand image; the Company's ability to differentiate its products from other brands; the consolidation
of retail customers; the Company's ability to predict, identify and interpret
changes in consumer preferences and demand; the Company's ability to drive revenue growth
in its key product categories, increase its market share or add products; an impairment
of the carrying value
of goodwill or other indefinite - lived intangible assets; volatility
in commodity, energy and other input costs;
changes in the Company's management team or other key personnel; the Company's inability to realize the anticipated benefits from the Company's cost savings initiatives;
changes in relationships with significant customers and suppliers; execution
of the Company's international expansion strategy;
changes in laws and regulations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; failure to successfully integrate the business and operations
of the Company
in the expected time frame; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures;
economic and political
conditions in the nations
in which the Company operates; the volatility
of capital markets; increased pension, labor and people - related expenses; volatility
in the market value
of all or a portion
of the derivatives that the Company uses; exchange rate fluctuations; risks associated with information technology and systems, including service interruptions, misappropriation
of data or breaches
of security; the Company's inability to protect intellectual property rights; impacts
of natural events
in the locations
in which the Company or its customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; tax law
changes or interpretations; and other factors.
Many factors could cause BlackBerry's actual results, performance or achievements to differ materially from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products and services, or develop new products and services
in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact
of the anticipated decline
in BlackBerry's infrastructure access fees on its consolidated revenue by developing an integrated services and software offering; intense competition, rapid
change and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance on carrier partners and distributors; risks associated with BlackBerry's foreign operations, including risks related to recent political and
economic developments
in Venezuela and the impact
of foreign currency restrictions; risks relating to network disruptions and other business interruptions, including costs, potential liabilities, lost revenues and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement and to realize the anticipated benefits
of its CORE program; BlackBerry's ability to maintain or increase its cash balance; security risks; BlackBerry's ability to attract and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand and manage BlackBerry ® World ™; risks related to the collection, storage, transmission, use and disclosure
of confidential and personal information; BlackBerry's ability to manage inventory and asset risk; BlackBerry's reliance on suppliers
of functional components for its products and risks relating to its supply chain; BlackBerry's ability to obtain rights to use software or components supplied by third parties; BlackBerry's ability to successfully maintain and enhance its brand; risks related to government regulations, including regulations relating to encryption technology; BlackBerry's ability to continue to adapt to recent board and management
changes and headcount reductions; reliance on strategic alliances with third - party network infrastructure developers, software platform vendors and service platform vendors; BlackBerry's reliance on third - party manufacturers; potential defects and vulnerabilities
in BlackBerry's products; risks related to litigation, including litigation claims arising from BlackBerry's practice
of providing forward - looking guidance; potential charges relating to the impairment
of intangible assets recorded on BlackBerry's balance sheet; risks as a result
of actions
of activist shareholders; government regulation
of wireless spectrum and radio frequencies; risks related to
economic and geopolitical
conditions; risks associated with acquisitions; foreign exchange risks; and difficulties
in forecasting BlackBerry's financial results given the rapid technological
changes, evolving industry standards, intense competition and short product life cycles that characterize the wireless communications industry.
Forward - looking statements are based on estimates and assumptions made by BlackBerry
in light
of its experience and its perception
of historical trends, current
conditions and expected future developments, as well as other factors that BlackBerry believes are appropriate
in the circumstances, including but not limited to the launch timing and success
of products based on the BlackBerry 10 platform, general
economic conditions, product pricing levels and competitive intensity, supply constraints, BlackBerry's expectations regarding its business, strategy, opportunities and prospects, including its ability to implement meaningful
changes to address its business challenges, and BlackBerry's expectations regarding the cash flow generation
of its business.
Changes in the financial condition of an issuer or counterparty, changes in specific economic or political conditions that affect a particular type of issuer, and changes in general economic or political conditions can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's credit quality or
Changes in the financial
condition of an issuer or counterparty,
changes in specific economic or political conditions that affect a particular type of issuer, and changes in general economic or political conditions can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's credit quality or
changes in specific
economic or political
conditions that affect a particular type
of issuer, and
changes in general economic or political conditions can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's credit quality or
changes in general
economic or political
conditions can increase the risk
of default by an issuer or counterparty, which can affect a security's or instrument's credit quality or value.
This makes China's
economic reaction function somewhat difficult for market participants to anticipate, because reactions on
changing economic conditions may come
in the form
of fiscal or monetary policy, or a combination
of both (the «dual bazooka» approach).
The fund may also invest
in small - and mid-capitalization companies, which can be particularly sensitive to
changing economic conditions, and their prospects for growth are less certain then those
of larger, more established companies.
These factors — many
of which are beyond our control and the effects
of which can be difficult to predict — include: credit, market, liquidity and funding, insurance, operational, regulatory compliance, strategic, reputation, legal and regulatory environment, competitive and systemic risks and other risks discussed
in the risk sections
of our 2017 Annual Report; including global uncertainty and volatility, elevated Canadian housing prices and household indebtedness, information technology and cyber risk, regulatory
change, technological innovation and new entrants, global environmental policy and climate
change,
changes in consumer behavior, the end
of quantitative easing, the business and
economic conditions in the geographic regions
in which we operate, the effects
of changes in government fiscal, monetary and other policies, tax risk and transparency and environmental and social risk.
Some
of the risks
of investing
in real estate include
changing laws, including environmental laws; floods, fires, and other Acts
of God, some
of which can be uninsurable;
changes in national or local
economic conditions;
changes in government policies, including
changes in interest rates established by the Federal Reserve; and international crises.
Examples
of these risks, uncertainties and other factors include, but are not limited to the impact
of: adverse general
economic and related factors, such as fluctuating or increasing levels
of unemployment, underemployment and the volatility
of fuel prices, declines
in the securities and real estate markets, and perceptions
of these
conditions that decrease the level
of disposable income
of consumers or consumer confidence; adverse events impacting the security
of travel, such as terrorist acts, armed conflict and threats thereof, acts
of piracy, and other international events; the risks and increased costs associated with operating internationally; our expansion into and investments
in new markets; breaches
in data security or other disturbances to our information technology and other networks; the spread
of epidemics and viral outbreaks; adverse incidents involving cruise ships;
changes in fuel prices and / or other cruise operating costs; any impairment
of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount
of cash to service our existing debt; restrictions
in the agreements governing our indebtedness that limit our flexibility
in operating our business; the significant portion
of our assets pledged as collateral under our existing debt agreements and the ability
of our creditors to accelerate the repayment
of our indebtedness; volatility and disruptions
in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations
in foreign currency exchange rates; overcapacity
in key markets or globally; our inability to recruit or retain qualified personnel or the loss
of key personnel; future
changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays
in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases
in the price
of, or major
changes or reduction
in, commercial airline services; seasonal variations
in passenger fare rates and occupancy levels at different times
of the year; our ability to keep pace with developments
in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability
of attractive port destinations; pending or threatened litigation, investigations and enforcement actions;
changes involving the tax and environmental regulatory regimes
in which we operate; and other factors set forth under «Risk Factors»
in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Commission.
I believe that man is, by nature, an exile and will never be self - sufficient or complete on this earth; that his chances
of happiness and virtue, here, remain more or less constant through the centuries and, generally speaking, are not much affected by the political and
economic conditions in which he lives; that the balance
of good and ill tends to revert to a norm; that sudden
changes of physical
condition are usually ill, and are advocated by the wrong people for the wrong reasons; that the intellectual communists
of today have personal, irrelevant grounds for their antagonism to society, which they are trying to exploit.
As the
changing socio -
economic conditions of nineteenth - century urban, industrial America demanded
of the church a reassessment
of its understanding
of people
in society, it was the Social Gospel movement which arose to take seriously the reality
of corporate sin and the need for corporate response.
But by the same token, the nationalization — and globalization —
of markets means that
changes in economic conditions nowadays affect all religious and cultural groups simultaneously.
Finally, voters tied firmly to either coalition would then interpret
changing economic conditions in light
of these prior, cultural, allegiances.
Mother Teresa is honored not because she has materially
changed the political and
economic conditions of India but because she has dedicated her life to the poor
in an exemplary way.
Interdependence
in trade and
in the
conditions of peace requires constructive
economic development
in areas
of rapid social
change if chaos and violence are to be avoided.
The driving force behind this process — i.e., the «factors making for growth
in the halakhah» — is, first, the «necessity to respond to new external
conditions — social,
economic, political, or cultural — that pose a challenge or even a threat to accepted religious and ethical values,» and, second, the «need to give recognition to new ethical insights and attitudes and to embody them
in the life
of the people, even if there [is] no
change in objective
conditions.»
But — and this is a huge qualifier — if that message
of justification by God's undeserved love is preached apart from an unmasking
of the actual power relations which have aggravated these feelings to the level
of a social neurosis; if people are released from the rat race
of upward mobility only privatistically, with no critique
of the
economic and social ideology that stimulates such desperate cravings; if people are liberated from a bad sense
of themselves without any sense
of mission to
change the
conditions that waste human beings
in such a way, then justification by faith becomes a mystification
of the actual power relations, and the Christian gospel is indeed the opiate
of the masses.
To these
changes from the nineteenth century world, with which the expansion
of the influence
of Jesus had been intimately connected, has been added a deterioration
in economic conditions which has undercut the financial support
of the churches and their missions.
These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty
of future financial results, our reliance on our sole supplier, the limited diversification
of our product offerings, additional financing requirements, development
of new products, government approval processes, the impact
of competitive products or pricing, technological
changes, the effect
of economic conditions and other uncertainties detailed
in the Company's filings with the Securities and Exchange Commission.
These factors include, but are not limited to: general
economic and business
conditions; our business strategy for expanding our presence
in our industry; anticipated trends
in our financial
condition and results
of operation; the impact
of competition and technology
change; existing and future regulations affecting our business; and other risks and uncertainties discussed
in the reports Celsius Holdings has filed previously with the Securities and Exchange Commission.
A number
of factors could cause actual results or outcomes to differ materially from those indicated by such forward - looking statements, including but not limited to, (1) our ability to open new restaurants and food and beverage locations
in current and additional markets, grow and manage growth profitably, maintain relationships with suppliers and obtain adequate supply
of products and retain our key employees; (2) factors beyond our control that affect the number and timing
of new restaurant openings, including weather
conditions and factors under the control
of landlords, contractors and regulatory and / or licensing authorities; (3)
changes in applicable laws or regulations; (4) the possibility that the Company may be adversely affected by other
economic, business, and / or competitive factors; and (5) other risks and uncertainties indicated from time to time
in our filings with the SEC, including our Annual Report on Form 10 - K filed on March 30, 2016 and our Quarterly Report on Form 10 - Q filed on August 15, 2016.
For those looking for more nuance, detail and depth
in analysing the
changing position
of China and Africa
in the international system, I recommend visiting the website
of the Oxford University China - Africa Network, which I convene and is currently hosting a series
of debates between African public intellectuals on what Chinese investment means for local
economic conditions from Mauritania to South Africa.
Walrond
in turn laments the
economic conditions in the District and the lack
of improvement during the 62 years
of combined legislative experience
of Rangel and Espaillat, casting himself as the true
change agent.