CONNECTION ANNOUNCES WINNERS OF 2024 IT SUPERHERO AWARDS
Connection (NASDAQ: CNXN), an IT solutions provider to business, government, health care and education markets, announced the winners of the fourth annual IT Superhero Awards at the Connection Technology Summit in Boston, Mass.
The 2024 IT Superhero Award individual category winners, chosen by a panel of four judges, are: Best Team Leader, David Lockstein, information technology and network supervisor, Watertown Unified School District, Wisconsin; Best Rookie, Bryce Bonilla, information technology and project specialist, Manufacturing Sciences Corporation, Tennessee; Best Catch, Jack Mincks, director of technology, Spokane R-7 School District, Missouri; Most Unshakeable, Ashley Hanovich, system support specialist, First State Bank, Michigan; and Best Superpower, Susan Chandler, technology director, Jasper City Schools, Alabama.
Connection has made a donation in the name of each winner to a charity selected by its employees as part of Connection Cares, with Jack Mincks, Susan Chandler, and Ashley Hanovich supporting the National Center for Women & Information Technology (NCWIT) and Bryce Bonilla and David Lockstein supporting Feeding America.
Connection is currently accepting nominations for the 2025 IT Superhero Awards. The contest is open to IT professionals nationwide. For contest details, dates and eligibility requirements, please visit www.connection.com/ITSA.
GLOBAL STOCK MARKET TO HIT A $127.4 TRILLION VALUE IN 2025
Stocklytics.com data reveals that the global stock market is expected to reach a value of $127.4 trillion by 2025, still falling short of 2022 levels by $900 billion.
The annual growth rate is anticipated to slow significantly to 2.4%, down from prior highs. While technological advancements drove substantial growth in early 2023, recent months have seen tech stocks decline sharply due to U.S. export restrictions on AI chips to China, concerns over interest rates, and mixed earnings reports. As investor sentiment shifts, funds are moving away from major tech stocks toward sectors like real estate and utilities, which have delivered double-digit returns.
Market volatility is likely to persist as investors balance robust corporate earnings and economic growth against risks such as inflation and geopolitical tensions. Statista forecasts that by year-end, the total market capitalization across all exchanges will increase by 6.6% to $124.4 trillion.
Notably, U.S. and U.K. stock markets are expected to stagnate, while India is projected to experience the most significant growth, reaching a market cap of $4.1 trillion by 2025.
DIRECTV AND DISH MERGE
DirecTV and Dish Network have announced a merger that will create the largest pay-TV provider in the U.S., combining approximately 18 million subscribers. Under the agreement, DirecTV will acquire Dish TV and Sling TV from EchoStar Corp. for a nominal $1, assuming around $9.75 billion in debt.
This deal hinges on Dish’s bondholders accepting a reduction of at least $1.568 billion in principal debt. TPG, DirecTV’s joint-venture partner, will acquire the remaining 70% stake from AT&T for $7.6 billion in cash.
Both companies have struggled in a changing media landscape, losing 63% of their satellite customers since 2016, with a significant portion of that loss occurring since early 2022. DirecTV’s CEO, Bill Morrow, believes that the merger will not face regulatory hurdles due to intense competition from streaming giants like Netflix and Amazon.
The merger is projected to yield over $1 billion in annual cost synergies and enhance the companies’ negotiating power with content providers. The new entity, retaining the DirecTV name, aims to close the deal by the fourth quarter of 2025, pending regulatory approvals.
