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The Vallejo Police Department has announced it will conduct a driving under the influence (DUI) Checkpoint on Dec. 16 from 6 p.m. to 2 a.m. at an undisclosed location.
The news release by the VPD states that “DUI checkpoint locations are determined based on data showing incidents of impaired driving-related crashes. The primary purpose of DUI checkpoints are to promote public safety by taking suspected impaired drivers off the road.”
“Impaired drivers put others on the road at significant risk,” Sgt. Rashad Hollis said in the same news release. “Any prevention measures that reduce the number of impaired drivers on our roads significantly improves traffic safety.”
In the statement, the VPD reminds the public that impaired driving is not just from alcohol. Some prescription medications and over-the-counter drugs may interfere with driving. While medicinal and recreational marijuana are legal, driving under the influence of marijuana is illegal.
Drivers charged with a first-time DUI face an average of $13,500 in fines and penalties, as well as a suspended license.
Funding for this program was provided by a grant from the California Office of Traffic Safety, through the National Highway Traffic Safety Administration.
The seller was Thomson Reuters Corp, a Toronto-based provider of business information services.
Denver International Airport (DEN) has officially begun construction of the second new security checkpoint on Level 6 on the northeast side of the Jeppesen Terminal as part of the Great Hall Completion, the final phase of the airport’s Great Hall Project.
“Earlier this year, we received approval from Denver City Council to move forward on the $1.3 billion Great Hall Completion which will fulfill our original vision for the project by building the second new security checkpoint on Level 6 and constructing and modernizing the remaining ticket lobbies amongst other improvements,” said DEN CEO Phil Washington. “This is a significant milestone as we look to bring an enhanced and more efficient security experience to our passengers.”
All security checkpoints will remain operational during construction and there will always be a corridor open to access the north end of the terminal as well as the Bridge Security. Passengers are strongly encouraged to check live TSA wait times on FlyDenver.com to help them choose the most efficient checkpoint.
NORFOLK, Va. — Transportation Security Administration officials stopped a Chesapeake man from carrying a loaded handgun onto a flight out of Norfolk International Airport on Wednesday.
In a release sent on Thursday, TSA officials said the .380 caliber handgun, which was loaded with six bullets, marked the 24th gun caught at the airport's security checkpoints so far this year, which set a new record for the airport.
In 2021, the airport reported 23 firearms that were caught at security.
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
2022 (As of 11/30/22) |
|||||||
| Guns caught at Norfolk Airport checkpoints | 14 | 10 | 21 | 15 | 12 | 23 | 24 | |||||||
Source: TSA
Officials were alerted to the gun when it set off an alarm as the man walked through the X-ray machine.
“Our officers are good at their jobs, but frankly, this is not the type of record we are looking to set. We would rather that travelers pack their guns properly for a flight. Firearms are not permitted through a security checkpoint because passengers should not have access to a firearm during a flight. This also applies to travelers with concealed carry permits or passengers who are enrolled in the TSA PreCheck® program," said Robin “Chuck” Burke, the airport's TSA Federal Security Director.
Airport officials said the case involving the Chesapeake man will be sent to the Norfolk Commonwealth’s Attorney which will decide if there should be any criminal charges.
The TSA is reminding travelers can travel with firearms only in checked bags if "they are properly packaged and declared at their respective airline ticket counter. They must also be unloaded, packed in a hard-sided locked case, and packed separately from ammunition. Then the locked case should be taken to the airline check-in counter to be declared. TSA has details on how to properly travel with a firearm."
Copyright 2022 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Does the November share price for Check Point Software Technologies Ltd. (NASDAQ:CHKP) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by estimating the company's future cash flows and discounting them to their present value. We will use the Discounted Cash Flow (DCF) model on this occasion. Models like these may appear beyond the comprehension of a lay person, but they're fairly easy to follow.
We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.
View our latest analysis for Check Point Software Technologies
What's The Estimated Valuation?
We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.
A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value:
10-year free cash flow (FCF) estimate
|
2023 |
2024 |
2025 |
2026 |
2027 |
2028 |
2029 |
2030 |
2031 |
2032 |
|
|
Levered FCF ($, Millions) |
US$1.21b |
US$1.24b |
US$1.36b |
US$1.20b |
US$1.29b |
US$1.37b |
US$1.43b |
US$1.49b |
US$1.54b |
US$1.58b |
|
Growth Rate Estimate Source |
Analyst x13 |
Analyst x7 |
Est @ 9.91% |
Analyst x1 |
Est @ 7.53% |
Est @ 5.87% |
Est @ 4.7% |
Est @ 3.88% |
Est @ 3.31% |
Est @ 2.91% |
|
Present Value ($, Millions) Discounted @ 7.9% |
US$1.1k |
US$1.1k |
US$1.1k |
US$887 |
US$884 |
US$868 |
US$843 |
US$811 |
US$777 |
US$742 |
("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = US$9.1b
The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.0%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.9%.
Terminal Value (TV)= FCF2032 × (1 + g) ÷ (r – g) = US$1.6b× (1 + 2.0%) ÷ (7.9%– 2.0%) = US$27b
Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$27b÷ ( 1 + 7.9%)10= US$13b
The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$22b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of US$131, the company appears a touch undervalued at a 25% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out.
The Assumptions
Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not supply a full picture of a company's potential performance. Given that we are looking at Check Point Software Technologies as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.9%, which is based on a levered beta of 0.986. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.
Moving On:
Whilst important, the DCF calculation is only one of many factors that you need to assess for a company. DCF models are not the be-all and end-all of investment valuation. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. Why is the intrinsic value higher than the current share price? For Check Point Software Technologies, we've put together three pertinent aspects you should look at:
-
Financial Health: Does CHKP have a healthy balance sheet? Take a look at our free balance sheet analysis with six simple checks on key factors like leverage and risk.
-
Future Earnings: How does CHKP's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.
-
Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!
PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NASDAQGS every day. If you want to find the calculation for other stocks just search here.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Police have set up a checkpoint in front of BNP Chairperson Khaleda Zia's Gulshan residence in the city tonight.
Syrul Kabir Khan, a staff of the chairperson's media wing, confirmed this to The Daily Star.
Abdul Ahad, deputy commissioner (Gulshan division) of Dhaka Metropolitan Police, said as part of a drive, the number of police checkpoint was increased in Gulshan area.
"Police started setting up checkpoints in different areas of Gulshan tonight. It's part of a special drive to arrest drug peddlers, militants and criminal," the police official told this newspaper.
The Police Headquarters earlier directed the field-level officials to carry out a 15-day special drive across the country from December 1 to ward off any untoward incident ahead of the Victory Day.
Chiefs of all police units and superintendents of police in all districts have been asked to conduct the drive between December 1 and 15, according to an order sent by the operations wing of the PHQ on November 29.
EAST ST. LOUIS, Ill. – One person is in custody after attempting to bring a gun into East St. Louis High School on Tuesday morning.
In a message to parents via Facebook, district officials noted that the gun was seized at a student checkpoint Tuesday morning. That said, officials shared that there were not any reported threats made to the school or anyone at it prior to the incident.
“Please know that student and staff safety is our number one priority. School District 189 security staff and administrators work with local law enforcement to ensure that our campuses are safe during the school day,” said East St. Louis Superintendent Arthur R. Culver.
Police did not disclose any details on the person arrested, and criminal charges have not yet been announced.
Suggest a Correction
A suspected Palestinian car thief crashed a stolen vehicle through a checkpoint at the entrance of Ben Gurion Airport on Sunday morning, before he was shot by guards opening fire in response, police said in a statement.
It was the third such incident within a number of weeks.
The suspect was lightly wounded in the shooting, and police said he would be questioned after receiving medical treatment.
Police said the suspect, who had illegally entered Israel from the West Bank, stole a car from the central region of the country and drove toward the airport.
Guards at the airport noticed the car as it approached at high speed before ramming through the checkpoint and driving on the wrong side of the road.
Airport security responded by opening fire and deploying roadblocks.
Police said that the driver had endangered the safety of the guards and the general public.
Footage circulated on social media apparently showed passengers at the airport’s international terminal who were asked to lie on the ground during the course of the incident.
Ziv Hayat, who was in the terminal, told Channel 12 news that there was initial panic when the incident began.
“We didn’t know exactly what had happened so everyone ran in panic and was shouting. There was a moment of hysteria and stress and everyone lay down. I was with a group of American tourists who didn’t understand what was happening, so I had to explain it to them,” he said. “The incident ended after 20 minutes, and we were told that we could get up and continue as normal.”
There was a similar incident on October 23, when the airport was briefly put on lockdown while the suspect was on the loose.
In an almost identical incident on September 22, a Palestinian driver rammed a stolen vehicle through a security barrier at Ben Gurion Airport, causing no injuries.
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