We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties,
including changes in market conditions; unanticipated developments that prevent, delay, alter the terms of, or otherwise negatively affect the planned spin - off of our Timeshare segment, and other risk factors that Marriott Vacations Worldwide Corporation identifies in its Form 10 registration statement or that we identify in our most recent quarterly report on Form 10 - Q.
We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties,
including changes in market conditions; unanticipated developments that prevent, delay, alter the terms of, or otherwise negatively affect the spin - off, and other risk factors that Marriott Vacations Worldwide Corporation identifies in its Form 10 registration statement or that we identify in our most recent quarterly report on Form 10 - Q.
Many factors affect performance
including changes in market conditions and interest rates and in response to other economic, political, or financial developments.
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.
Important factors that could cause our actual results and financial
condition to differ materially from those indicated
in the forward - looking statements
include, among others, the following: our ability to successfully and profitably
market our products and services; the acceptance of our products and services by patients and healthcare providers; our ability to meet demand for our products and services; the willingness of health insurance companies and other payers to cover Cologuard and adequately reimburse us for our performance of the Cologuard test; the amount and nature of competition from other cancer screening and diagnostic products and services; the effects of the adoption, modification or repeal of any healthcare reform law, rule, order, interpretation or policy; the effects of
changes in pricing, coverage and reimbursement for our products and services,
including without limitation as a result of the Protecting Access to Medicare Act of 2014; recommendations, guidelines and quality metrics issued by various organizations such as the U.S. Preventive Services Task Force, the American Cancer Society, and the National Committee for Quality Assurance regarding cancer screening or our products and services; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, licensing and supplier arrangements; our ability to maintain regulatory approvals and comply with applicable regulations; and the other risks and uncertainties described
in the Risk Factors and
in Management's Discussion and Analysis of Financial
Condition and Results of Operations sections of our most recently filed Annual Report on Form 10 - K and our subsequently filed Quarterly Reports on Form 10 - Q.
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 and uncertainties
include: Gilead's ability to achieve its anticipated full year 2018 financial results; Gilead's ability to sustain growth
in revenues for its antiviral and other programs; the risk that private and public payers may be reluctant to provide, or continue to provide, coverage or reimbursement for new products,
including Vosevi, Yescarta, Epclusa, Harvoni, Genvoya, Odefsey, Descovy, Biktarvy and Vemlidy ®; austerity measures
in European countries that may increase the amount of discount required on Gilead's products; an increase
in discounts, chargebacks and rebates due to ongoing contracts and future negotiations with commercial and government payers; a larger than anticipated shift
in payer mix to more highly discounted payer segments and geographic regions and decreases
in treatment duration; availability of funding for state AIDS Drug Assistance Programs (ADAPs); continued fluctuations
in ADAP purchases driven by federal and state grant cycles which may not mirror patient demand and may cause fluctuations
in Gilead's earnings;
market share and price erosion caused by the introduction of generic versions of Viread and Truvada, an uncertain global macroeconomic environment; and potential amendments to the Affordable Care Act or other government action that could have the effect of lowering prices or reducing the number of insured patients; the possibility of unfavorable results from clinical trials involving investigational compounds; Gilead's ability to initiate clinical trials
in its currently anticipated timeframes; the levels of inventory held by wholesalers and retailers which may cause fluctuations
in Gilead's earnings; Kite's ability to develop and commercialize cell therapies utilizing the zinc finger nuclease technology platform and realize the benefits of the Sangamo partnership; Gilead's ability to submit new drug applications for new product candidates
in the timelines currently anticipated; Gilead's ability to receive regulatory approvals
in a timely manner or at all, for new and current products,
including Biktarvy; Gilead's ability to successfully commercialize its products,
including Biktarvy; the risk that physicians and patients may not see advantages of these products over other therapies and may therefore be reluctant to prescribe the products; Gilead's ability to successfully develop its hematology / oncology and inflammation / respiratory programs; safety and efficacy data from clinical studies may not warrant further development of Gilead's product candidates,
including GS - 9620 and Yescarta
in combination with Pfizer's utomilumab; Gilead's ability to pay dividends or complete its share repurchase program due to
changes in its stock price, corporate or other
market conditions; fluctuations
in the foreign exchange rate of the U.S. dollar that may cause an unfavorable foreign currency exchange impact on Gilead's future revenues and pre-tax earnings; and other risks identified from time to time
in Gilead's reports filed with the U.S. Securities and Exchange Commission (the SEC).
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.
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.
For example, the expected timing and likelihood of completion of the proposed merger,
including the timing, receipt and terms and
conditions of any required governmental and regulatory approvals of the proposed merger that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event,
change or other circumstances that could give rise to the termination of the merger agreement, the possibility that Kraft shareholders may not approve the merger agreement, the risk that the parties may not be able to satisfy the
conditions to the proposed transaction
in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the
market price of Kraft's common stock, and the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Kraft and Heinz to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally, problems may arise
in successfully integrating the businesses of the companies, which may result
in the combined company not operating as effectively and efficiently as expected, the combined company may be unable to achieve cost - cutting synergies or it may take longer than expected to achieve those synergies, and other factors.
Factors that could cause or contribute to actual results differing from our forward - looking statements
include risks relating to: failure of DBRS to rate the Notes at the anticipated ratings levels, which is a closing
condition, or at all;
changes in the financial
markets,
including changes in credit
markets, interest rates, securitization
markets generally and our proposed securitization
in particular; the willingness of investors to buy the Notes; adverse developments regarding OnDeck, its business or the online or broader marketplace lending industry generally, any of which could impact what credit ratings, if any, are issued with respect to the Notes; the extended settlement cycle for the scheduled closing on April 17, 2018, which may exacerbate the foregoing risks; and other risks,
including those described
in our Annual Report on Form 10 - K for the year ended December 31, 2017 and
in other documents that we file with the Securities and Exchange Commission from time to time which are or will be available on the Commission's website at www.sec.gov.
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.
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.
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.
We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties,
including volatility
in the economy and the credit
markets, supply and demand
changes for vacation ownership and residential products, competitive
conditions; the availability of capital to finance growth, and other matters referred to under the heading «Risk Factors» contained
in our Annual Report on 10 - K for the year ended December 30, 2011 filed with the U.S. Securities and Exchange Commission (the «SEC») and
in subsequent SEC filings, any of which could cause actual results to differ materially from those expressed
in or implied
in this presentation.
Consider these risks before investing: The value of securities
in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons,
including general financial
market conditions,
changing market perceptions,
changes in government intervention
in the financial
markets, and factors related to a specific issuer, industry, or sector and,
in the case of bonds, perceptions about the risk of default and expectations about
changes in monetary policy or interest rates.
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.
The additional factors considered when determining any
changes in fair value between the most recent valuation report and the grant dates
included, when available, the prices paid
in recent transactions involving our equity securities, as well as our operating and financial performance, current industry
conditions and the
market performance of comparable publicly traded companies.
Any opinions, recommendations, and assumptions
included in this presentation are based upon current
market conditions, reflect our judgment as of the date of this presentation, and are subject to
change.
We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties,
including volatility
in the economy and the credit
markets, supply and demand
changes for vacation ownership and residential products, competitive
conditions; the availability of capital to finance growth, and other matters referred to under the heading «Risk Factors» contained
in the Information Statement filed as an exhibit to our Annual Report on Form 10 - K for the year ended December 30, 2011 filed with the U.S. Securities and Exchange Commission (the «SEC») and
in subsequent SEC filings, any of which could cause actual results to differ materially from those expressed
in or implied
in this presentation.
The company cautions you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties,
including volatility
in the economy and the credit
markets, supply and demand
changes for vacation ownership and residential products, competitive
conditions; the availability of capital to finance growth, and other matters referred to under the heading «Risk Factors» contained
in the company's most recent Annual Report on Form 10 - K filed with the U.S Securities and Exchange Commission (the «SEC») and
in subsequent SEC filings, any of which could cause actual results to differ materially from those expressed
in or implied
in this press release.
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.
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.
Among the factors that could cause actual results and outcomes to differ materially from those contained
in such forward - looking statements are the following: macro-economic
conditions (
including fluctuations
in housing prices, oil
markets, jobless rates and other indicators), credit
market changes and constraints, foreign currency fluctuation, the company's ability to manage its property portfolio, the impact of labor
markets, failure to effectively manage costs or achieve anticipated expense and cost reductions, and disruptions
in our supply chain or information technology systems.
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.
Among the important factors that could cause Rio Tinto's actual results, performance or achievements to differ materially from those
in the forward - looking statements
include, among others, levels of actual production during any period, levels of demand and
market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on
market prices and operating costs, operational problems, political uncertainty and economic
conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as
changes in taxation or regulation and such other risk factors identified
in Rio Tinto's most recent Annual Report on Form 20 - F filed with the United States Securities and Exchange Commission (the «SEC») or Form 6 - Ks furnished to the SEC.
Hsu said the research contributes to understanding about how local
conditions or cultural
changes drive dynamics
in a broad range of
markets including rise of organic agriculture and the growth of energy and wind power.
Bond prices may fall or fail to rise over time for several reasons,
including general financial
market conditions,
changing market perceptions of the risk of default,
changes in government intervention, and factors related to a specific issuer or industry.
Consider these risks before investing: Bond prices may fall or fail to rise over time for several reasons,
including general financial
market conditions,
changing market perceptions of the risk of default,
changes in government intervention, and factors related to a specific issuer or industry.
Consider these risks before investing: Stock and bond prices may fall or fail to rise over time for several reasons,
including general financial
market conditions, factors related to a specific issuer or industry and, with respect to bond prices,
changing market perceptions of the risk of default and
changes in government intervention.
Consider these risks before investing: Bond prices may fall or fail to rise over time for several reasons,
including general financial
market conditions,
changing market perceptions (
including perceptions about the risk of default and expectations about monetary policy or interest rates),
changes in government intervention
in the financial
markets, and factors related to a specific issuer or industry.
The bond
markets are extremely active, with interest rates constantly
changing in response to a number of factors
including changes in the supply and demand of credit, Federal Reserve policy, fiscal policy, exchange rates, economic
conditions,
market psychology and, above all,
changes in expectations about inflation.
Market prices for securities change daily as a result of many factors, including developments affecting the condition of both individual companies and the market in ge
Market prices for securities
change daily as a result of many factors,
including developments affecting the
condition of both individual companies and the
market in ge
market in general.
Whether or not actual results and developments will conform to ProShare Advisors LLC's expectations and predictions, however, is subject to a number of risks and uncertainties,
including general economic,
market and business
conditions,
changes in laws or regulations or other actions made by governmental authorities or regulatory bodies, and other world economic and political developments.
Asset prices may fall or fail to rise over time for several reasons,
including general financial
market conditions,
changing market perceptions (
including,
in the case of bonds, perceptions about the risk of default and expectations about monetary policy or interest rates),
changes in government intervention
in the financial
markets, and factors related to a specific issuer, industry or commodity.
Stock and bond prices may fall or fail to rise over time for several reasons,
including general financial
market conditions,
changing market perceptions (
including,
in the case of bonds, perceptions about the risk of default and expectations about monetary policy or interest rates),
changes in government intervention
in the financial
markets, and factors related to a specific issuer or industry.
The fund is subject to general
market risks
including changes in interest rates and
market conditions, economic risk and political risks.
Company Risk — Equity securities can fluctuate
in price based upon many different factors,
including among others,
changes in the company's financial
condition or prospects, or
changes in market or economic
conditions affecting a company's industry generally.
The
market value of a fund's portfolio may decline as a result of a number of factors,
including adverse economic and
market conditions, prospects of stocks
in the portfolio,
changing interest rates, and real or perceived adverse competitive industry
conditions.
The
market value of the portfolio may decline as a result of a number of factors,
including adverse economic and
market conditions, prospects of stocks
in the portfolio,
changing interest rates, and real or perceived adverse competitive industry
conditions.
Stock and bond prices may fall or fail to rise over time for several reasons,
including general financial
market conditions,
changing market perceptions (
including,
in the case of bonds, perceptions about the risk of default and expectations about
changes in monetary policy or interest rates),
changes in government intervention
in the financial
markets, and factors related to a specific issuer or industry.