Latest News
See the latest news and get GPT analysis of articles
LGBTQ+ librarians grapple with attacks on books - and on themselves 2024-06-22 13:00:08+00:00 - Idaho librarian June Meissner was closing up for the day at the downtown Boise Public Library when a man approached her asking for help. As an information services librarian, answering patrons’ questions is part of Meissner’s day-to-day work, and serving the community is one of her favorite parts of the job. But when the man got close enough, “he took a swing at me and tried to punch me in the head,” said Meissner, a transgender woman. “I blocked it and he started yelling slurs and suggesting that he was going to come back and kill me.” Worldwide Pride Month events are well underway to celebrate LGBTQ+ culture and rights. But it is coming at a time when people who identify as LGBTQ+ say they are facing increasing difficulties at work, ranging from being repeatedly misgendered to physically assaulted. Gender nonconforming library workers in particular, like Meissner, are also grappling with growing calls for book bans across the U.S., with books about gender identity, sexual orientation and race topping the list of most criticized titles and making the attacks all the more personal. “When we see attacks on those books, we have to understand that those are attacks on those kinds of people as well,” said Emily Drabinski, who is the president of the American Library Association and is gay. “To have my identity weaponized against libraries and library workers, the people and institutions I care about the most, has made it a difficult and painful year.” The ALA said it documented the highest-ever number of titles targeted for censorship in 2023 in more than 20 years of tracking -- 4,240. That total surpassed 2022’s previous record by 65%, with Maia Kobabe’s coming-of-age story “Gender Queer” topping the list for most criticized library book for the third straight year. Lawmakers are increasingly considering lawsuits, fines, and even imprisonment for distributing books some regard as inappropriate, including in Meissner’s home state of Idaho. Lawmakers there passed legislation that empowers local prosecutors to bring charges against public and school libraries if they don’t keep “harmful” materials away from children. The new law, signed by Idaho Gov. Brad Little in April, will go into effect on July 1. “I do think that a lot of that political speech around it does make things more dangerous and worse for me,” Meissner said. “It is so much politicking and getting the general public riled up.” Meissner’s own attacker was arrested and convicted, and she says that while the vast majority of her interactions at work are positive, she still struggles to let her guard down and is constantly assessing whether a situation could turn unsafe. “As somebody who is working face to face with the public and trying to help people as much as possible, that really does get in the way,” she told The Associated Press, describing how she waits to make eye contact with a patron “and then, based on what I see when they look at me, that’ll tell me whether or not I should just be on edge, be wary.” Florida-based conservative nonprofit Moms for Liberty, which describes itself as a parental rights organization and refers to its members as “joyful warriors,” has been at the forefront of a nationwide push to remove books that deal with race and gender identity. But co-founder Tiffany Justice says the organization — which she says has more than 300 chapters in 48 states and more than 130,000 active members — is not anti-LGBTQ+, although Justice herself told the AP she thinks that the Q in the acronym, which stands for queer or questioning, “needs to go into the trash bin.” And according to the ALA’s Office for Intellectual Freedom, about 38% of book challenges that “directly originated” from Moms for Liberty activity have LGBTQ+ themes. Justice said Moms for Liberty challenges books like Gender Queer — a graphic novel about a young person’s struggle with gender identity that contains illustrations of sexual contact, masturbation and a sex toy — because they view the material as sexually explicit, not because they cover LGBTQ+ topics. “The least interesting thing about a child should be their sexual orientation,” Justice said. “Why are we flooding them with sexual content?” Despite the thousands of petitions to censor books about gender and sex, legal standards for deeming materials obscene or harmful to minors — and therefore not protected speech under the First Amendment — are very specific and high, and courts have historically sided with libraries, according to Vera Eidelman, a staff attorney for the American Civil Liberties Union who focuses on rights to free speech in the digital age. “The mere fact that something is describing sex, describing nudity, even depicting those things, is not enough to make it qualify as obscenity,” she said. Regardless, the book banning movement has in many cases successfully restricted access to materials in which LGBTQ+ youth can see themselves depicted. As of June 1, Louisiana libraries must allow parents or guardians to decide which books their child can check out. M’issa Fleming, a public librarian in New Orleans who uses they/them pronouns, says the new law could make it even more dangerous for queer and trans kids, who are already at higher risk of being victims of violence, substance use, and suicide than their straight, cisgender peers. And losing access to LGBTQ+ themed books may cause kids to turn to less reliable sources like Reddit. “Public libraries could be offering as many ways as possible to make it less dangerous to learn about yourself, and the law just added another challenge,” Fleming said. Chaz Carey, a children’s librarian in Worthington, Ohio, knows firsthand how powerful books can be. Alison Bechdel’s 2006 graphic memoir “Fun Home,” in which the author comes to grips with her sexual orientation, changed Carey’s life as a teenager. “I felt seen. It was like my whole body just let out a breath,” said Carey, who is queer and uses they/them pronouns. “It is just so important that these books remain on shelves. They save lives.” Carey says being a children’s librarian is a dream job, but the rise in book challenges and anti-LGBTQ+ rhetoric takes a mental toll. They are frequently misgendered at work, including by some patrons who go out of their way to do so while airing their political beliefs. “The political environment is just an extra kind of weight as we navigate our lives and our places in our community,” said Carey, who chairs ALA’s Rainbow Roundtable, which aims to serve the information needs of LGBTQ+ people. For Carey, what helps is “taking some time to feel sad, but then choosing queer joy and pride.” ___ The Associated Press’ women in the workforce and state government coverage receives financial support from Pivotal Ventures. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.
MarketBeat Week in Review – 6/17 - 6/21 2024-06-22 11:00:00+00:00 - Summer is here, and investors seem to be taking it easy. The markets were calmer this week, with all the indexes pointing slightly higher. The Dow index ended the week with the biggest gains. Is this signaling the long-awaited broadening out of the market? It's too early to tell. Investors may be simply repositioning after taking some profits from NVIDIA Corp. NASDAQ: NVDA. There won't be much news to move the markets until Friday's release of the Personal Consumption Expenditure (PCE) index. This is the Federal Reserve's "preferred" measure of inflation, so it could move markets. Investors will also get the final reading on the first-quarter GDP. Otherwise, the next known catalyst for markets will come when the next quarterly earnings season kicks off in mid-July. Although estimates have come down, many analysts still expect a strong earnings season, with expectations for the energy sector improving significantly. Get NVIDIA alerts: Sign Up Whatever your summer plans entail, the MarketBeat team will have the analysis you need when you need it. Here are some of our most popular stories from this week. Articles by Jea Yu The Walt Disney Company NYSE: DIS continues to polarize investors. As Jea Yu wrote this week, DIS stock soared 33% after the company won the proxy battle over activist investor Nelson Peltz. However, most of those gains are gone, and with the company forecasting a lower quarter, investors have to wonder if Disney stock is a buying opportunity or if the magic is gone. In a tough retail sector, Williams-Sonoma Inc. NYSE: WSM has been a shining star due in large measure to its focus on the high-income consumer. WSM stock is up 400% in the last five years. As Yu points out, the stock is likely to move higher after the company's announcement of a 2-for-1 stock split, even though investors didn't love the company's earnings report. And while Americans may be eating out less, they still have an appetite for pizza. But that doesn't mean every pizza franchise is a great investment. This week, Yu compared Domino's Pizza NYSE: DPZ with Papa John's International NASDAQ: PZZA and explained to investors why there's one clear-cut winner in this battle. Articles by Thomas Hughes It's been a long couple of years for 3M NYSE: MMM. However, with the long-running lawsuits attached to the company nearly behind it, Thomas Hughes writes that investors are starting to focus on the company's fundamentals. That points to a brighter future and a reason some investors may want to get in on a turnaround story in its early stages. While some investors are taking profits on NVIDIA, Hughes explains why they may be getting ready to buy the dip on Advanced Micro Devices Inc. NASDAQ: AMD. The AI/data center story is still in its early stages, which is why investors are bidding AMD stock higher even with its premium valuation. Hughes also writes that investors have been scaling the wall of worry with little trouble. But oil prices may turn out to be the wildcard. This week, oil prices rose above $80 a barrel, and the concern of what lower interest rates would do to oil prices may keep the Fed from lowering rates as fast as investors believe. Articles by Chris Markoch A big story this week was the disclosure that Berkshire Hathaway Inc. NYSE: BRK.B continued to reduce its stake in BYD Company Limited OTCMKTS: BYDDY. Warren Buffett's hedge fund initially invested in BYD at the behest of Buffett's partner, the late Charlie Munger. The stock has performed well, and this could just be about taking profit, but as Chris Markoch writes, it does raise questions on how Buffett may view the short-term outlook for EVs. And with expectations growing for a September rate cut, Markoch writes about three stocks that investors may want to buy to prepare themselves for a summer rally. Articles by Ryan Hasson ARM Holdings NASDAQ: ARM has been one of the top-performing stocks in 2024. It makes the technology that companies like NVIDIA and Advanced Micro Devices need. But as Ryan Hasson writes this week, despite the stock's inclusion in the Russell 1000 index, ARM stock is showing signs of being overbought. Hasson explains both sides of the valuation debate to help you decide whether to start or add to a position. Hasson also covered a big week for two pharmaceutical stocks. Outlook Therapeutics Inc. NASDAQ: OTLK is getting bullish price target upgrades from analysts. This could mean they expect positive results from the company's lead candidate for treating wet age-related macular degeneration (AMD) and other retinal diseases, which is in Phase III clinical trials. Then there's Gilead Sciences Inc. NASDAQ: GILD. The stock is up more than 10% for the week on news that its HIV drug candidate achieved 100% efficacy in its ongoing Phase III trial. Hasson explains why this could continue to build on the stock's recent positive momentum and give investors another reason to own Gilead stock beyond a high-yield dividend. Articles by Gabriel Osorio-Mazilli As restaurants fight for every consumer's discretionary dollars, Gabriel Osorio-Mazilli explains why CAVA Group Inc. NASDAQ: CAVA may be a better opportunity for investors than Chipotle Mexican Grill Inc. NYSE: CMG. It's a growth story that, unlike Chipotle, may still be in its early stages. Staying with consumer discretionary stocks, Osorio-Mazilli explains why analysts are bullish on Celsius Holdings Inc. NASDAQ: CELH. The company is expected to post stronger earnings than its competitors, which could make the stock a great buy-the-dip opportunity. One storm cloud over CAVA, Celsius, and other similar companies could come from GLP-1 weight-loss drugs that continue to grow in popularity and adoption. It's a sector that has been producing outsized gains among stocks like Eli Lilly & Co. NYSE: LLY, and Osorio-Mazilli explains why that growth may just be getting started. Before you consider NVIDIA, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NVIDIA wasn't on the list. While NVIDIA currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
Did you receive an unsolicited Temu or Amazon package? It might be a brushing scam. 2024-06-21 22:44:00+00:00 - Received a package in the mail you didn’t order? You could be a brushing scam victim Received a package in the mail you didn’t order? You could be a brushing scam victim 02:20 A Minnesota woman received a box filled with baby reveal balloons from Amazon. A family in Illinois had dozens of boxes from Temu delivered to their doorstep, including military hats and cameras. And like many others around the U.S. who have gotten a surprise shipment of seemingly random goods, neither had ordered the items. Consumer protection experts say an unwanted e-commerce order can indicate a so-called brushing scam — a technique some unscrupulous online retailers use to generate fake reviews for their products. The offender is typically a third-party seller on a major e-commerce platform looking to achieve verified merchant status, which enables the seller to write products reviews on someone else's behalf. The scams often involve a foreign company obtaining someone's address that they found online and then delivering products to their home, according to the Better Business Bureau. Josh Planos, a spokesman for the BBB, advises consumers who receive unsolicited products to document the incidents and contact retailers directly to get deliveries stopped. "They intend to make it appear that you wrote a glowing online review of their merchandise and that you are a verified buyer of that merchandise," the BBB stated in an alert. "They then post a fake, positive review to improve their products' ratings, which means more sales. The payoff is highly profitable from their perspective." If you received an unsolicited package from Amazon, Temu or any other retailer, here are steps the BBB recommends to protect your personal information. Notify the retailer and ask them to investigate any fraudulent purchases Try to contact the sender and ask them to remove any phony reviews written in your name Check your online ecommerce accounts for recent orders Consider having future packages sent to another location Change your online account passwords Monitor your credit reports and credit card statements
Amazon to stop using plastic air pillows in packages 2024-06-21 21:16:00+00:00 - Amazon is pledging to drastically cut down on the retailer's usage of plastic air pillows in packages and replace them with paper filler. Removing 95% of the air pillows is part of Amazon's broader plan to reduce waste and use recyclable material at its fulfillment centers, the company said in a statement Thursday. Amazon is working to remove all plastic air pillows in North America by the end of 2024, Pat Lindner, the vice president for sustainable packaging said in a statement. The move will allow Amazon to stop using some 15 billion plastic air pillows a year, the company said. Customers will notice that the air pillows are missing from the orders next month starting during Prime Day, the company added. Amazon said the paper filler is made of 100% recycled content and provides equivalent protection during shipping. Amazon joins companies including PepsiCo, Unilever, Procter & Gamble, Philip Morris International and Mars in vowing to reduce their plastic usage, according to a tally from the League of Women Voters. In April, Starbucks unveiled a new cup lineup that the coffee vendor said will keep more than 13.5 million pounds of plastic out of landfills every year. An estimated 33 billion pounds of the world's plastic trash enters the oceans every year, according to the nonprofit conservation group Oceana, eventually breaking down into tiny fragments. A 2020 study found 1.9 million microplastic pieces in an area of about 11 square feet in the Mediterranean Sea. Marine life that consumes plastics can get eaten by larger prey, which in turn can get ingested by humans. Meanwhile, plastic clean-up costs, along with related financial losses to fisheries and other industries, amounts to roughly $13 billion per year, according to the United Nations.
CDK Global cyberattack leaves thousands of car dealers spinning their wheels 2024-06-21 21:12:00+00:00 - Bel Air dealership among nationwide businesses impacted by cyberattack Bel Air dealership among nationwide businesses impacted by cyberattack 02:11 Car dealers across the U.S. are floundering after cyberattacks this week on CDK Global, a maker of software used to operate their businesses, made it all but impossible to sell vehicles. Tom Maioli, who owns Celebrity Motor Car Company, which operates five luxury car dealerships across New York and New Jersey, told CBS MoneyWatch his business is "completely shut down." "We cannot process paperwork. Everything is frozen, everything is tied up — we cannot move money back and forth to pay off cars, to finance our customers' transactions," he said. Such disruptions are particularly damaging to sales-driven businesses like auto dealerships, where car shoppers who are primed to lay down their cash on a vehicle may walk away when faced with frustrating delays. Maioli said that while he's trying to keep customers engaged, he has no sense of when his sales systems will be fully functional again, leaving the business in limbo. The company's dealer management system, which is used by some 15,000 dealerships, remained unavailable Thursday and Friday, causing headaches for dealers and would-be car buyers. For one family in New Jersey, the outage meant they couldn't drive away with their new Audi Q5. Daniel Lanni told Bloomberg his family was expecting the vehicle to be delivered on June 19, but that it now remains unclear when they'll take possession. "The kids were really excited," Lanni, a 41-year-old commercial real estate broker, told Bloomberg. "They're upset and now they're just regularly asking about it." On Wednesday, CDK Global took down its services as a precaution, effectively bringing sales to a halt for its customers. A second cyberattack this week has compounded the problem. CDK has indicated that the outage could last several days and has not publicly announced when it expects its services to be fully restored. The financial repercussions of the tech failure are expected to be substantial given that CDK powers sales for roughly half of the car dealerships in the U.S. "Royal pain in the rear" Geoff Pohanka, chairman of Pohanka Automotive Group, told CBS MoneyWatch that 20 of the company's dealerships rely on CDK's dealer management system, or DMS, to operate. "We are very dependent upon the DMS, and it affects all parts of our business," he said. "It generates all of our forms. If you come in, we enter you in the system, it builds a file in terms of paperwork and finance papers, and right now none of that is functioning." Pohanka, who said the dealership still has phone and internet service, said the business is doing its best to keep sales rolling. "We may not be able to have all the documents signed and will need to bring the customer back in to complete them, but we still can function," he said, while conceding that "everything takes longer [and] is more complicated." The DMS outage also affects the company's service and parts department. Typically, the dealership uses CDK software to generate electronic contracts and print out work orders. Now, they're operating manually, which is slower. "We will certainly lose business because it takes longer to complete transactions, and some things will fall through the cracks. There will be losses," Pohanka said. "It's debilitating, and the longer it goes on the harder it will be for dealers. I know we will lose revenue. It really is a royal pain in the rear." Sport Honda, a Honda dealer and CDK customer in Silver Spring, Md., is also scrambling to continue serving customers. "It's a difficult task, but there was paper before there were computers so we have to go about it that way," a dealership manager told CBS MoneyWatch. "You can move around the computer software and go back and do things like you did back in the day." Employees at other dealerships took to social media forums to say they were tracking orders on "sticky notes" or using Excel spreadsheets to log transactions. For CDK, the fallout may not only be technological. Maioli, the car dealership owner, said he's retained legal counsel and is mulling a class-action lawsuit against the company.
FDA gives green light to menthol flavored e-cigarettes for first time 2024-06-21 21:04:00+00:00 - What teens and parents should know about the dangers of vaping What teens and parents should know about the dangers of vaping 03:53 The Food and Drug Administration on Friday authorized menthol-flavored electronic cigarettes for adult smokers, the first time the agency has opened the door for vaping companies to sell non-tobacco flavored products. The FDA cleared Njoy, a vaping brand recently acquired by tobacco giant Altria, to market four menthol e-cigarettes. But regulators also said it would review applications for authorization of flavored e-cigarettes on a case-by-case basis and that its actions apply on to Njoy's four products. In announcing its decision, the FDA said it found that menthol-flavored e-cigarettes can reduce the harms of traditional tobacco smoking. But the agency emphasized that it is not approving menthol vaping products, which would mean the FDA had determined a drug is safe and effective for its intended use. Instead, authorization by the agency only means Njoy has received regulatory approval to market its products to the public. "We are a data driven agency and will continue to follow the science to inform our review of premarket tobacco applications," Matthew Farrelly, director for the FDA's Center for Tobacco Products, said in a statement. "Based upon our rigorous scientific review, in this instance, the strength of evidence of benefits to adult smokers from completely switching to a less harmful product was sufficient to outweigh the risks to youth." The decision lends new credibility to vaping companies' long-standing claim that their products can help blunt the toll of smoking, which is blamed for 480,000 U.S. deaths annually due to cancer, lung disease and heart disease. Parent groups and anti-tobacco advocates immediately criticized the decision, which comes after years of pushing regulators to keep menthol and other flavors that can appeal to teens off the market. "This decision could mean we'll never be able to close the Pandora's box of the youth vaping epidemic," said Meredith Berkman, co-founder of Parents Against Vaping E-cigarettes. "FDA has once again failed American families by allowing a predatory industry to source its next generation of lifetime customers — America's children." Youth vaping has declined from all-time highs in recent years, with about 10% of high schoolers reporting e-cigarette use last year. Of those who vaped, 90% used flavors, including menthol. All the e-cigarettes previously authorized by the FDA have been tobacco, which isn't widely used by young people who vape. Njoy is one of only three companies that previously received the FDA's OK for vaping products. Like those products, the menthol varieties come as cartridges that plug into a reusable device that heats liquid nicotine, turning it into an inhalable aerosol. Njoy's products accounted for less than 3% of U.S. e-cigarette sales in the past year, according to retail data from Nielsen. Vuse, owned by Reynolds American, and Juul control about 60% of the market, while hundreds of disposable brands account for the rest. Most teens who vape use disposable e-cigarettes, including brands like Elf Bar, which come in flavors such as watermelon and blueberry ice. The Njoy approval is part of a sweeping FDA review intended to bring scientific scrutiny to the multibillion-dollar vaping market after years of regulatory delays. Currently the U.S. market includes thousands of fruit- and candy-flavored vapes that are technically illegal but are widely available in convenience stores, gas stations and vape shops. —The Associated Press contributed to this report.
Nearly $109 million in deposits held for fintech Yotta’s customers vanished in Synapse collapse, bank says 2024-06-21 16:19:00+00:00 - Ledgers of the failed fintech middleman Synapse show that nearly all the deposits held for customers of the banking app Yotta went missing weeks ago, according to one of the lenders involved. A network of eight banks held $109 million in deposits for Yotta customers as of April 11, Evolve Bank & Trust said in a bankruptcy court letter filed late Thursday. About one month later, the ledger showed just $1.4 million in Yotta funds held at one of the banks, Evolve said. It added that neither customers nor Evolve received funds in that time period. "These irregularities in Synapse's ledgering of Yotta end user funds are just one example of the many discrepancies that Evolve has observed," the bank said. "A detailed investigation of what happened to these funds, or alternatively, why the Synapse-provided ledger reflected money movement that did not actually occur, must be undertaken." Evolve, one of the key players in a deepening predicament that has left more than 100,000 fintech customers locked out of their bank accounts since May 11, has been attempting to piece together with other banks a record of who is owed what. Its former partner Synapse, which connected customer-facing fintech apps to FDIC-backed banks, filed for bankruptcy in April amid disputes about customer balances. But Evolve itself was reprimanded by the Federal Reserve last week for failing to properly manage its fintech partnerships. The regulator noted that Evolve "engaged in unsafe and unsound banking practices" and forced the bank to improve oversight of its fintech program. The Fed said the enforcement action was separate from the Synapse bankruptcy. Yotta CEO and co-founder Adam Moelis said in response to this article that Synapse has said in court filings that Evolve held nearly all Yotta customers deposits. Evolve and Synapse disagree over who holds the funds and who is responsible for the frozen accounts. "According to the Synapse trial balance report provided on May 17, there are $112 million of customer funds held at Evolve," Moelis said. Evolve, which is headquartered in Memphis, Tennessee-based, had this statement late Friday: "We believe that a meticulous forensic accounting investigation will reveal that these purported funds are not, and were not, in Evolve's possession, contrary to Synapse's claims," a spokesman told CNBC. "Evolve will continue cooperating with the Trustee and other banks to perform reconciliation and determine the most appropriate path forward for any funds actually held at Evolve." The bank has been trying to separate itself from Synapse since late 2022 because of ledger problems it has found, the Evolve spokesman said.
Sarepta Therapeutics Stock Soars on FDA Approval 2024-06-21 15:58:00+00:00 - Sarepta Therapeutics Today SRPT Sarepta Therapeutics $160.72 +37.22 (+30.14%) 52-Week Range $55.25 ▼ $173.25 P/E Ratio 1,461.09 Price Target $177.65 Add to Watchlist Sarepta Therapeutics NASDAQ: SRPT is leading the game in precision genetic medicine and biotechnology. Sarepta Therapeutics' stock price has witnessed a surge of over 40% after receiving expanded FDA approval for its Duchenne muscular dystrophy (DMD) gene therapy, Elevidys. This pivotal decision marks a turning point in treating this debilitating disease and underscores Sarepta's commitment to developing groundbreaking therapies for rare diseases. Get Sarepta Therapeutics alerts: Sign Up Duchenne Muscular Dystrophy: A Critical Need Duchenne muscular dystrophy (DMD) is a severe genetic disorder characterized by progressive muscle degeneration and weakness. Primarily affecting boys, DMD is caused by mutations in the DMD gene, which provides instructions for creating dystrophin, a protein crucial for maintaining muscle cell structure and function. The absence of functional dystrophin leads to progressive muscle wasting, loss of mobility, and, ultimately, life-threatening complications. With an estimated incidence of 1 in 3,500 male births worldwide, DMD presents a significant unmet medical need, making the development of effective therapies an urgent global health priority. Sarepta's Legacy of Innovation in Genetic Medicine Founded in 1980, Sarepta Therapeutics has emerged as a pioneer in genetic medicine, particularly in developing therapies for DMD and other rare neuromuscular disorders. Driven by a mission to engineer precision genetic medicines that transform patients' lives, Sarepta has built a diverse and robust pipeline of over 40 programs. The company's innovative approach is powered by its multi-platform Precision Genetic Medicine Engine, which encompasses cutting-edge gene therapy, RNA technology, and gene editing technologies. This strategic focus has enabled Sarepta to become a leader in developing targeted therapies for previously untreatable diseases. Elevidys: A Breakthrough in DMD Gene Therapy Elevidys is a single-dose, adeno-associated virus (AAV)-based gene therapy administered via intravenous infusion. It addresses the underlying genetic cause of DMD by delivering a functional version of a shortened dystrophin gene (micro-dystrophin) directly into muscle cells. This innovative approach aims to enable the production of essential dystrophin protein, potentially slowing or halting the progression of muscle degeneration. FDA Expands Approval of Elevidys: A Milestone for Sarepta and DMD Community The FDA's recent decision to expand Elevidys' approval represents a significant milestone for Sarepta and the DMD community. Initially granted accelerated approval for ambulatory DMD patients aged 4 and 5 in 2023, Elevidys is now approved for all DMD patients aged four and above, regardless of ambulatory status. This expanded label encompasses two key distinctions: traditional approval for ambulatory patients and accelerated approval for non-ambulatory patients. Based on robust clinical data demonstrating Elevidys' efficacy in improving muscle function in ambulatory patients, the traditional approval reinforces the therapy's value proposition. The accelerated approval, granted for non-ambulatory patients, recognizes the critical need for treatment options for this patient population, with continued approval contingent on confirmatory clinical trials. Elevidys Drives Revenue Growth for Sarepta Sarepta's earnings report for Q1 2024 highlights Elevidys's transformative impact on the company's growth trajectory. The company reported a 55% year-over-year increase in net product revenue, reaching $359.5 million, with Elevidys generating an impressive $133.9 million in net revenue during the quarter. Since its initial approval, Elevidys has achieved cumulative sales surpassing $334 million, surpassing the combined performance of other gene therapies approved in recent years. Sarepta's financial performance is further reflected in its profitability, with GAAP earnings of $36.1 million and non-GAAP earnings of $78.2 million reported for Q1 2024. These positive financial indicators demonstrate Elevidys's significant commercial potential and underscore Sarepta's successful execution of its strategic vision. Sarepta Therapeutics, Inc. (SRPT) Price Chart for Sunday, June, 23, 2024 Investing in Growth: Sarepta's Strategy to Expand Operational Capacity In anticipation of increased demand for Elevidys, Sarepta has undertaken strategic initiatives to bolster its operational capabilities. The company recently announced hiring nine new employees, signaling its commitment to expanding its manufacturing, commercialization, and research activities. These strategic investments reflect Sarepta's proactive approach to ensuring it can meet the anticipated surge in demand for Elevidys following its expanded approval. Sarepta Therapeutics: A Compelling Opportunity with Measured Risk Sarepta Therapeutics presents a compelling investment opportunity for investors seeking exposure to the rapidly evolving field of genetic medicine and the pharmaceutical sector. The company's dominant position in the DMD market, driven by the expanded approval of Elevidys and its robust pipeline of innovative therapies, positions it for sustained growth. Sarepta's strong financial performance, including impressive revenue growth and profitability, further strengthens its investment appeal. Sarepta Therapeutics MarketRank™ Stock Analysis Overall MarketRank™ 4.50 out of 5 Analyst Rating Moderate Buy Upside/Downside 10.5% Upside Short Interest Bearish Dividend Strength N/A Sustainability -1.65 News Sentiment 0.66 Insider Trading Selling Shares Projected Earnings Growth 173.58% See Full Details However, investors should carefully consider the inherent risks associated with biotech investments. Regulatory hurdles, competition within the gene therapy landscape, and the volatility inherent to the industry are factors that could impact Sarepta's future performance. The FDA's expanded approval of Elevidys marks a pivotal moment for Sarepta Therapeutics and the DMD community. The company's commitment to developing groundbreaking therapies positions it as a frontrunner in the race to conquer rare diseases. As Sarepta continues to innovate and expand access to its life-changing therapies, it holds the potential to deliver substantial value to patients and investors. Before you consider Sarepta Therapeutics, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sarepta Therapeutics wasn't on the list. While Sarepta Therapeutics currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
580,000 JoyJolt glass coffee mugs recalled over burn and cut risks 2024-06-21 14:34:00+00:00 - More than half a million JoyJolt brand glass coffee mugs have been recalled after their manufacturer received over 100 reports of the products breaking when filled with hot liquids, leading to multiple users suffering burns or lacerations, according to the Consumer Product Safety Commission. MM Products on Thursday recalled 580,000 JoyJolt Declan Single-Wall Glass Coffee Mugs with model number JG10242, which are 16 ounces and were sold as a set of six, according to the recall notice posted by the agency. Consumers are instructed to immediately stop using the recalled item and conduct their maker for a full refund. The glasses are clear and have a handle, and their model numbers can be found on their packaging or in the order confirmation. The company said on its website that a number of the mugs broke at the base when exposed to hot liquids. Recalled JoyJolt Declan coffee mug Consumer Product Safety Commission According to MM Products, there have been 103 reports of incidents related to the glasses, resulting in 56 injuries. In 35 of those instances, consumers suffered burns from spilled hot liquids, while there were 21 reports of cuts from broken class. Seven of the incidents required medical attention, including surgery and stitches, according to the recall notice. The mugs, manufactured in China, were sold on Amazon's website and through MM Products' online shop from September 2019 through May 2022. They retailed for between $20 and $25 for a set of six mugs. Customers can email the company at recall@joyjolt.com or visit its website to complete a form for a refund.
CarMax: A Market Melt-Up Waiting to Happen for this Stock 2024-06-21 14:27:00+00:00 - CarMax NYSE: KMX is set up for a market melt-up because of improving market sentiment. The used car market is still struggling due to market normalization, but it is sufficient to drive solid cash flow for this business, and the trends are improving. The critical takeaway from the Q1 report is that costs are improving, vehicle value is stabilizing, demand is rebounding, and the business is set up to return to growth with leveraged earnings power. CarMax Today KMX CarMax $71.63 +0.27 (+0.38%) 52-Week Range $59.66 ▼ $88.22 P/E Ratio 23.64 Price Target $76.17 Add to Watchlist Among the drivers for the melt-up will be short interest. CarMax is among the most heavily shorted S&P 500 NYSEARCA: SPY stocks, with a short interest of 12.5% at the start of June. Since the price action in June leading up to the earnings release is not bullish, it points to an increase in short interest, not a decrease. CarMax may not be primed for a short squeeze, but short-covering will add momentum to the rally. Get CarMax alerts: Sign Up Better Than Expected Results Are Why CarMax Moves Higher CarMax struggled in Q1, with volume and pricing impacting the top and bottom lines. However, the company’s $7.11 billion in revenue outpaced the consensus reported by MarketBeat despite the 7.5% decline. The critical details are that the revenue was slightly better than expected and aided performance on the bottom line. Regarding units sold, total units fell by 5.3%, while used same-store comparable sales fell by 3.8% and wholesales by 8.3%. Margin news is mixed. The company improved margins in all segments, with wholesales and EPP setting records. The bad news is that one-offs in the prior and current years led to a decrease in GAAP earnings, but the decline is less than expected. The $0.97 in GAAP earnings beat by $0.02, leaving cash flow in fine shape. Cash flow is down compared to last year but sufficient to improve the balance sheet while returning capital to shareholders. At the end of Q1, the balance sheet highlights include a reduction in cash and current assets offset by increased total assets, reduced debt, reduced liability, and a 5.6% increase in shareholder equity. Share repurchases were accelerated in the quarter, and shareholder value was impacted. The company repurchased $104 million or about 1.4 million shares, reducing the count by 0.5% on average. Because the outlook for sales is stabilizing, with growth expected to return by year’s end, and there is still $2.26 billion authorized for repurchases, aggressive buybacks will likely continue. CarMax Has An Edge With AI CarMax MarketRank™ Stock Analysis Overall MarketRank™ 3.04 out of 5 Analyst Rating Hold Upside/Downside 6.3% Upside Short Interest Bearish Dividend Strength N/A Sustainability -2.21 News Sentiment 0.25 Insider Trading Selling Shares Projected Earnings Growth 18.30% See Full Details CarMax was recently called out by The Goldman Sachs Group NYSE: GS as a consumer discretionary company best positioned to benefit from AI. In their view, AI could drive 42% of earnings growth from the baseline outlook, which includes modest growth this year, which will accelerate to over 25% next year. Assuming that CarMax’s 24x multiple of this year's EPS outlook is accurate, this stock could rise by $20 or 27.75% over the next year on a simple price-multiple expansion. Add in the outlook for productivity gains, and the potential for gains is amplified. The eleven analysts tracked by MarketBeat have a consensus of Hold for this stock and are narrowing the target range for its price. This shows a deepening conviction the stock will rise by 7.5% over the next few quarters. CarMax Stock Price Bottomed and is Set Up to Rebound CarMax’s stock price corrected following the Q4 earnings report but quickly bottomed. The market is moving within a trading range and now shows support above the range’s low end. The post-release action has the market up, suggesting a reversal is in play, but there is a risk for bulls. The market also shows resistance at the middle of the range, which may be sufficient to cap gains. In that scenario, this market will continue to move sideways within its range, with a possibility of retesting the low end. If the market can sustain upward movement and move above $72.50, it could quickly advance to the $87 level. Before you consider CarMax, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CarMax wasn't on the list. While CarMax currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
3 Solar Stocks to Watch that are Building the Green Energy Future 2024-06-21 14:06:00+00:00 - The renewable energy sector is experiencing unprecedented growth, a trend reflected in the record-breaking 2023 installation of 305 gigawatts (GW) of new solar capacity worldwide. This surge signifies a global shift towards cleaner energy sources, with solar and wind power playing a central role in decarbonizing the global energy sector. A combination of factors, including supportive government policies, technological advancements, and increasing consumer demand for clean energy, drives this shift. Growth and the dynamic environment of the energy sector have created a fertile landscape for companies strategically positioned to capitalize on the growing demand for renewable energy. Several companies are leading the charge in this sector, and understanding their unique business models and strategies is crucial for investors seeking to navigate the complexities of the renewable energy market. Get NextEra Energy alerts: Sign Up NextEra Energy: A Renewable Powerhouse NextEra Energy Today NEE NextEra Energy $72.81 +0.35 (+0.48%) 52-Week Range $47.15 ▼ $80.47 Dividend Yield 2.83% P/E Ratio 19.84 Price Target $76.50 Add to Watchlist NextEra Energy NYSE: NEE is a leading force in the renewable energy sector. It is uniquely positioned as the largest electric utility in the U.S. while simultaneously being a major developer of renewable energy projects. This dual role gives NEE a significant competitive advantage, allowing it to leverage its massive scale (with over 16,800 employees), solid financial health, and extensive experience in traditional and renewable energy sectors. NextEra's size enables it to achieve operational efficiencies, secure favorable terms with suppliers, and access capital at competitive rates. NextEra Energy’s financial stability is evident in its consistent profitability, reflected in a net income of $7.31 billion in the most recent fiscal year, and its strong balance sheet, supported by a robust debt-to-equity ratio of 1.12. NextEra Energy MarketRank™ Stock Analysis Overall MarketRank™ 4.44 out of 5 Analyst Rating Moderate Buy Upside/Downside 5.1% Upside Short Interest Healthy Dividend Strength Strong Sustainability -2.21 News Sentiment 0.94 Insider Trading N/A Projected Earnings Growth 8.24% See Full Details NextEra's high credit ratings inspire confidence in investors, enabling it to make long-term investments in renewable energy projects. Its diversified portfolio, encompassing both renewable and traditional energy sources, provides a balanced approach, mitigating risks associated with market fluctuations and technological disruptions. NextEra is also actively investing in green hydrogen production, recognizing its potential as a key enabler of decarbonization in various sectors, including transportation, manufacturing, industrial production, and power generation. NextEra’s stock performance reflects investor confidence in its growth trajectory, with a current stock price of around $72 and an average stock price target of $76.50, suggesting a potential upside of 5%. NextEra’s analyst community generally holds a "Moderate Buy" rating, highlighting the company's solid fundamentals and growth prospects. First Solar: Innovating in Thin-Film Technology First Solar Today FSLR First Solar $258.87 -1.20 (-0.46%) 52-Week Range $129.21 ▼ $306.77 P/E Ratio 27.14 Price Target $265.72 Add to Watchlist First Solar NASDAQ: FSLR is a prominent player in the U.S. solar panel manufacturing market, distinguished by its proprietary thin-film technology. This technology offers advantages over conventional crystalline silicon panels, particularly in hot and humid climates, delivering superior performance and higher energy yields. First Solar's commitment to domestic production, driven by a strategic alignment with the Inflation Reduction Act (IRA), positions it to capitalize on a growing market for U.S.-made solar panels. The company’s manufacturing process is also recognized for its lower carbon footprint, which aligns with First Solar’s sustainability commitment. This eco-conscious approach resonates with environmentally conscious investors and customers, contributing to the company's brand image. However, First Solar faces challenges from cheaper imports, mainly from China, which exert significant pricing pressure on the U.S. solar market. The company's reliance on specific raw materials and the need to manage a secure and stable supply chain are also key considerations for investors. First Solar MarketRank™ Stock Analysis Overall MarketRank™ 4.54 out of 5 Analyst Rating Moderate Buy Upside/Downside 2.6% Upside Short Interest Bearish Dividend Strength N/A Sustainability -0.14 News Sentiment 0.84 Insider Trading Selling Shares Projected Earnings Growth 56.47% See Full Details Despite these challenges, First Solar's growth potential is substantial, driven by the IRA's tax credits for domestic manufacturing and the expanding demand for U.S.-made solar panels. The company is executing a robust capacity expansion plan, with new manufacturing facilities coming online in the U.S. and India, enabling it to meet the rising demand for its products. First Solar's stock has experienced significant volatility in recent months, driven by market uncertainties, including concerns about competition, the overall economic environment, and the potential impact of trade policy changes. Despite this volatility, the company's long-term outlook remains positive, supported by its technological leadership, strategic alignment with government policies, and growing market share. The company's stock currently trades around $260, with analysts holding a "Moderate Buy" rating. First Solar's financial results have captured the attention of investors. In the most recent fiscal year, the company achieved a net income of $830.78 million and a solid net margin of 28.75%. This strong financial performance, coupled with First Solar's commitment to innovation, sustainable practices, and a year-to-date stock price increase of 52%, fuels investor interest. Sunrun: Bringing Solar to Homes Sunrun Today RUN Sunrun $13.09 +0.55 (+4.39%) 52-Week Range $8.43 ▼ $23.85 Price Target $21.47 Add to Watchlist Sunrun NASDAQ: RUN is the largest residential solar installer in the United States, offering homeowners a convenient path to solar energy adoption through leasing and Power Purchase Agreements (PPAs). These financing models address a crucial barrier to solar adoption by eliminating the upfront costs associated with purchasing and installing solar panels, making solar accessible to a broader customer base. Run's strong brand recognition and reputation for customer service provide a competitive edge within the residential solar market. The company has effectively implemented customer acquisition strategies, partnering with home builders and retail channels and leveraging online marketing campaigns to build a substantial customer base of over 800,000 Subscribers. Sunrun is also at the forefront of virtual power plant (VPP) development, harnessing aggregated home batteries to provide grid services and enhance grid stability, playing a critical role in the transition to a more distributed and flexible energy system. Sunrun's stock performance, however, has been volatile in recent months, reflecting the challenges the company faces in a dynamic and competitive market. The company's stock price has declined year-to-date. This decline can be attributed to several factors, including regulatory changes affecting the economics of residential solar, rising competition within the residential solar market, and increasing customer acquisition costs. Sunrun MarketRank™ Stock Analysis Overall MarketRank™ 4.00 out of 5 Analyst Rating Moderate Buy Upside/Downside 64.0% Upside Short Interest Bearish Dividend Strength N/A Sustainability 0.92 News Sentiment 0.73 Insider Trading Selling Shares Projected Earnings Growth Growing See Full Details One of the most significant challenges facing Sunrun is the evolving regulatory landscape for net metering. This policy allows solar customers to sell excess electricity back to the grid, offsetting their energy bills. Changes to net metering policies in some states have reduced the financial incentives for residential solar, impacting Sunrun's profitability and slowing the growth of its subscriber base. Despite these challenges, Sunrun's growth potential remains strong, driven by the increasing electrification of homes and the growing integration of home batteries. As homes adopt more electric appliances and electric vehicles, the demand for residential solar and battery storage is expected to rise, creating new opportunities for Sunrun to expand its market reach and revenue streams. The company's focus on battery storage has been a key driver of its growth, as storage systems provide increased customer value through enhanced resiliency and control while delivering higher margins for Sunrun. Riding the Renewable Energy Wave The global renewable energy sector is experiencing unprecedented growth, a trend reflected in the record-breaking 2023 installation of 305 gigawatts (GW) of new solar capacity worldwide. This surge signifies a global shift towards cleaner energy sources, with solar and wind power playing a central role in decarbonizing the global energy sector. A combination of factors, including supportive government policies, technological advancements, and increasing consumer demand for clean energy, drives this shift. Driving Forces Behind the Renewable Energy Surge The global push for a sustainable energy future has resulted in supportive government policies worldwide, encouraging the rapid adoption of renewable energy sources. International agreements such as the Paris Agreement, aimed at limiting global warming to well below 2 degrees Celsius, are setting ambitious targets for emissions reduction and accelerating the transition to renewable energy. This trend is further amplified by growing consumer demand for clean and sustainable energy sources. The Inflation Reduction Act (IRA) has emerged as a transformative force in the United States, providing substantial incentives for the renewable energy sector. This landmark legislation offers several key incentives, including the investment tax credit (ITC), the production tax credit (PTC), and the advanced manufacturing production credit (Section 45X). The ITC provides a 30% tax credit for qualifying solar projects, making solar energy investments more financially attractive for developers, businesses, and homeowners. The PTC incentivizes the generation of electricity from renewable sources, further boosting the economic viability of solar projects. The IRA also prioritizes domestic solar manufacturing, aiming to foster the growth of a domestic solar manufacturing industry and reduce reliance on imports. Section 45X of the IRA provides tax credits for solar modules and components manufactured in the United States. This provision is expected to reshape the industry landscape, potentially creating new opportunities for U.S.-based manufacturers. Complementing federal efforts are state-level Renewable Portfolio Standards (RPS). These standards, implemented across numerous states, mandate that utilities source a specific percentage of their electricity from renewable sources, creating a favorable regulatory environment for expanding renewable energy in the United States. Technological Advancements Powering the Solar Future Continuous innovation in renewable energy technologies is also driving the surge in adoption. The price of solar panels has fallen by more than 90% over the past decade, making solar energy a more affordable option for a broader range of consumers and businesses. Energy storage technology is also rapidly advancing, and it is critical to integrate battery systems into intermittent renewable sources like solar. Batteries are becoming more efficient, longer-lasting, and cost-effective, enabling the storage of excess solar energy generated during peak hours for use when sunlight is unavailable. The renewable energy sector is experiencing unprecedented growth, driven by multiple factors. Government policies like the IRA in the U.S. and state-level Renewable Portfolio Standards (RPS) are creating a favorable environment for solar energy development. Technological advancements in battery storage and grid integration make renewable energy more cost-effective and reliable. And finally, growing consumer demand for clean energy, fueled by environmental awareness and a desire for energy independence, propels the sector forward. While participating in this dynamic environment presents challenges, each company discussed provides unique strengths and strategies and is well-positioned to capitalize on the continued expansion of the solar energy market. Investors seeking to participate in this transformative journey should carefully consider the fundamentals of these companies, analyze their financial performance, and assess their ability to navigate the complexities of the renewable energy sector. The future of energy is evolving rapidly, and the companies that embrace innovation and adapt to changing market dynamics are poised to lead the way toward a sustainable energy future. Before you consider NextEra Energy, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NextEra Energy wasn't on the list. While NextEra Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
Gilead Sciences Stock Surges on HIV Treatment Trial Success 2024-06-21 13:18:00+00:00 - Gilead Sciences NASDAQ: GILD saw its stock jump nearly 10% yesterday after announcing groundbreaking results from its HIV treatment trial. The biopharmaceutical company revealed 100% efficacy in its Phase 3 HIV prevention trial, marking the first trial showing zero infections. Given the stock's underperformance this year, this news is a significant relief for investors. Let's delve into the trial's details, the stock's recent performance, and its future prospects. Get Gilead Sciences alerts: Sign Up Gilead's Lenacapavir Trial: A Potential Game-Changer Gilead Sciences Today GILD Gilead Sciences $70.67 +2.18 (+3.18%) 52-Week Range $62.07 ▼ $87.86 Dividend Yield 4.36% P/E Ratio 196.31 Price Target $83.47 Add to Watchlist Gilead's trial found zero cases of HIV infection among 2,134 women who received lenacapavir versus several cases among those on Gilead’s current HIV pills, Truvada and Descovy. Truvada was the first pre-exposure prophylaxis (PrEP) treatment approved by the FDA. However, more testing is needed before lenacapavir can seek FDA approval. Another Phase 3 trial targeting men who have sex with men and other groups is expected to yield results late this year or early next year. Dr. Linda-Gail Bekker, head of the Desmond Tutu HIV Center, hailed lenacapavir as a potential game-changer for HIV prevention globally. Breaking Above Resistance: Gilead's Stock Momentum Shift The positive news comes at a critical time for Gilead. The stock has been in a steep selloff this year, down over 15% YTD and trading well below its 200-day SMA. The recent announcement has, however, helped GILD break above its downtrend resistance and surpass its 50-day and 20-day declining SMAs, signaling a potential shift in momentum. Going forward, it will be vital to see whether the stock can convert its downtrend resistance into support, as it aims to stage a turnaround and build a base towards its 200-day SMA. Gilead has significantly lagged its sector, with the iShares Biotechnology ETF NASDAQ: IBB almost flat YTD and consolidating near its 52-week highs. This recent breakthrough could be the catalyst Gilead needs to reverse its downward trend and pair its losses versus the benchmark and its sector. Balancing Fundamentals and Sentiment: Gilead's Growth Potential Despite its recent struggles, Gilead presents an attractive proposition for growth investors seeking income. The stock boasts a hefty dividend yield of 4.5% and is projected to grow earnings by 92.8% this year. Analysts are optimistic, with a consensus price target of $83.47, indicating almost 22% upside. Eighteen analysts rate the stock as a Hold. Following the trial news, Robert W. Baird reaffirmed its neutral rating and set a price target of $80, forecasting a nearly 16% upside. The stock is a favorite amongst institutions, boasting 83.6% institutional ownership. Over the previous twelve months, total institutional inflows have been $37.7 billion versus just $4.1 billion in outflows. Navigating a Pivotal Moment: Gilead Sciences' Future Prospects Gilead Sciences MarketRank™ Stock Analysis Overall MarketRank™ 4.90 out of 5 Analyst Rating Hold Upside/Downside 18.1% Upside Short Interest Healthy Dividend Strength Strong Sustainability -2.24 News Sentiment 1.02 Insider Trading Selling Shares Projected Earnings Growth 92.80% See Full Details Gilead Sciences' recent trial success in HIV prevention is a promising development that could mark a turning point for the stock. While the stock has underperformed the broader sector this year, the breakthrough in the HIV treatment trial and subsequent price surge suggest the potential for recovery. With strong fundamentals, a solid dividend yield, and optimistic analyst projections, Gilead Sciences is a stock to watch closely as it navigates this pivotal moment. Investors should monitor whether GILD can sustain this momentum and convert resistance into support, paving the way for a sustained upward trend. Before you consider Gilead Sciences, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Gilead Sciences wasn't on the list. While Gilead Sciences currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
Super Bowl parade shooting survivors await promised donations while bills pile up 2024-06-21 12:07:00+00:00 - Abigail Arellano keeps her son Samuel's medical bills in a blue folder in a cabinet above the microwave. Even now, four months after the 11-year-old was shot at the Kansas City Chiefs Super Bowl parade, the bills keep coming. There's one for $1,040 for the ambulance ride to the hospital that February afternoon. Another for $2,841.17 from an emergency room visit they made three days after the shooting because his bullet wound looked infected. More follow-ups and counseling in March added another $1,500. "I think I'm missing some," Arellano said as she leafed through the pages. The Arellanos are uninsured and counting on assistance from the fund that raised nearly $2 million in the aftermath of the shooting that left one dead and at least 24 other people with bullet wounds. She keeps that application in the blue folder as well. The medical costs incurred by the survivors of the shooting are hitting hard, and they won't end soon. The average medical spending for someone who is shot increases by nearly $30,000 in the first year, according to a Harvard Medical School study. Another study found that number goes up to $35,000 for children. Ten kids were shot at the parade. Then there are life's ordinary bills — rent, utilities, car repairs — that don't stop just because someone survived a mass shooting, even if their injuries prevent them from working or sending kids to school. The financial burden that comes with surviving is so common it has a name, according to Aswad Thomas of the nonprofit Alliance for Safety and Justice: victimization debt. Some pay it out-of-pocket. Some open a new credit card. Some find help from generous strangers. Others can't make ends meet. "We're really broke right now," said Jacob Gooch Sr., another survivor, who was shot through the foot and has not yet been able to return to work. "We're, like, exhausting our third credit card." As is common after mass shootings, a mosaic of new and established resources emerged in this Missouri city promising help. Those include the #KCStrong fund established by the United Way of Greater Kansas City, which is expected to begin paying victims at the end of June. Survivors must navigate each opportunity to request help as best they can — and hope money comes through. GoFundMes, generous strangers and a new line of credit Mostly, it's the moms who keep the bills organized. Tucked above the microwave. Zipped inside a purse. Screenshots stored on a phone. And then there's a maze of paperwork: The Missouri state victims' compensation form is five pages, including instructions. It's another six pages for help from the United Way. Emily Tavis keeps stacks of paperwork with color-coded binder clips in her basement: Black for her partner, Gooch Sr.; blue for her stepson, Jacob Gooch Jr.; pink for herself. All three were shot at the parade. Tavis was able to walk after a bullet ripped through her leg, and she considered declining the ambulance ride because she was worried about the cost — she lacked insurance at the time. Gooch Sr. was unable to walk because he'd been shot in the foot. So they shared an ambulance to the hospital with two of their kids. Tavis and Gooch Sr. received separate $1,145 bills for the ambulance. Gooch Jr. did not, possibly because he has health coverage through Medicaid, Tavis said. She sends the medical bills to victims' compensation, a program to help with the economic losses from a crime, such as medical expenses and lost wages. Even though Tavis and Gooch live in Leavenworth, Kansas, their compensation comes from the program in Missouri, where the shooting occurred. The program pays only for economic losses not covered by other sources like health insurance, donations, and crowdsourced fundraisers. Gooch Sr. and Jr. both had health insurance at the time of the parade, so the family has been sending only the uncovered portion to victims' compensation. The family initially received a lot of support. Friends and relatives made sure they had food to eat. The founder of an online group of Kansas City Chiefs fans sent $1,000 and gifts for the family. A GoFundMe page raised $9,500. And their tax refund helped. They knew money might get tight with Gooch Sr. unable to work, so they paid three months' rent in advance. They also paid to have his Ford Escape fixed so he could eventually return to work and bought Tavis a used Honda Accord so she could drive to the job she started 12 days after the parade. And because the donations were intended for the whole family, they decided to buy summer passes to the Worlds of Fun amusement park for the kids. But recently, they've felt stretched. Gooch Sr.'s short-term disability payments abruptly stopped in May when his health insurance prompted him to see an in-network doctor. He said the short-term disability plan initially didn't approve the paperwork from his new doctor and started an investigation. The issue was resolved in June and he was expecting back pay soon. In the interim, though, the couple opened a new credit card to cover their bills. In the interim, the couple opened a new credit card to cover their bills. "We've definitely been robbing Peter to pay Paul," Tavis said. Ideally, the money that eventually comes from the United Way, victims' compensation, and, they hope, back pay from short-term disability will be enough to pay off their debts. But, Tavis said, "You gotta do what you gotta do. We're not going to go without lights." United Way payout expected at end of June With every mass shooting, donations for survivors inevitably flow in, "just like peanut butter goes with jelly, because people want to help," said Jeff Dion, executive director of the Mass Violence Survivors Fund, a nonprofit that has helped many communities manage such funds. Typically, he said, it takes about five months to disburse the money from these large community funds. Victims can potentially get money sooner if their community has a plan in place for these types of funds before a mass shooting. Funds may also advance money to people with urgent financial needs who are certain to qualify. The United Way hung banners in the Chiefs colors on Kansas City's Union Station with its #KCStrong campaign within days of the shootings. Driven by large donations from the team, the NFL, quarterback Patrick Mahomes, other individuals, and local companies, it ultimately raised more than $1.8 million. The promise of a large payout has kept the injured hopeful, even as many felt confused by the process. Some people interviewed for this story did not wish to say anything negative, fearing it would hurt their allocation. United Way officials announced in April that donations would be closed at the end of that month. On May 1, the organization posted a notice saying it would issue "claimant forms" and that the Jackson County Prosecutor's Office was helping verify shooting victims. The United Way affiliate's board of trustees plans to meet June 26 to determine allocations, with payments arriving as early as June 27. Kera Mashek, a spokesperson for United Way of Greater Kansas City, said payouts will be made to 20 of the 24 shooting survivors. The other four either couldn't be verified as victims or turned down the funds, she said. Claimants do not include the 67 people prosecutors say were trampled in the melee, she said. Pending board approval, money will also be disbursed to 14 community groups that support nonviolence initiatives, mental health concerns, and first responders, Mashek said. To criticism that the United Way didn't communicate well with the victims, Mashek said it tried to respond in a timely manner. "We've tried to keep that line of communication open as fast as possible and most people have been very patient," she said. "I think that they will be very grateful and very, I believe, pleasantly surprised with the amount of funding that they receive." Other resources available Abigail Arellano hadn't heard of victims' compensation, which is common. A 2022 survey from the Alliance for Safety and Justice found that 96% of victims did not receive that support and many didn't know it existed. Arellano and her husband, Antonio, didn't attend the parade but they've had medical expenses as well. Antonio has been going to therapy at a local health center to help with the stressful task of guiding his son through the trauma. It's been helpful. But he's been paying around $125 out-of-pocket for each session, he said, and the bills are mounting. One of Samuel's sisters set up a GoFundMe that raised $12,500, and Abigail said it helped that the family shared their story publicly and that Abigail reached out to help others in the Latino community affected by the shooting. It was Abigail, for instance, who connected 71-year-old Sarai Holguin with the Mexican Consulate in Kansas City. The consulate, in turn, helped Holguin register as an official victim of the shooting, which will enable her to receive assistance from the United Way. Holguin's bills now include a fourth surgery, to remove the bullet lodged near her knee that she had previously made peace with living with forever — until it began protruding through her skin. "Generous and quick" relief to victims Several survivors were relieved and grateful to receive funds from a less high-profile, nondenominational group called "The Church Loves Kansas City." The day after the shooting, Gary Kendall, who ran a Christian nonprofit called "Love KC," started a text chain at 6 a.m. with city leaders and faith-based groups, and eventually received pledges of $184,500. (Love KC has now merged with another nonprofit, "Unite KC," which is disbursing its funds.) The first payout went to the family of Lisa Lopez-Galvan, the 43-year-old mother of two and popular DJ who was the sole fatality during the parade shootings. Unite KC spent $15,000 on her burial expenses. Unite KC spent $2,800 so James and Brandie Lemons could get their health insurance restored because James couldn't work. Unite KC also paid $2,200 for the out-of-pocket surgical costs when James decided to get the bullet removed from his leg. "I appreciate it," an emotional James Lemons said. "They don't have to do that, to open their hearts for no reason." Erika Nelson was struggling to pay for household expenses and had to take time off from her home health care job to take her injured daughter, 15-year-old Mireya, to doctor appointments. Mireya was shot in the chin and shoulder and is recovering. A GoFundMe page set up by Nelson's best friend raised about $11,000, but it was frozen after Nelson tried to get into the account and GoFundMe thought it was being hacked. She feared the lights would be shut off in their apartment, because of unpaid electric bills, and was feeling desperate. "I'm struggling with, like, you know, groceries," Nelson said. "People were like, 'Oh, go to food pantries.' Well, the food pantries are not open the times I can get off. I can't just take off work to go to a food pantry." After meeting with Gary Kendall, Nelson received three months of rent and utility payments, about $3,500. "A weight off my shoulder. I mean, yeah. In a big way," she whispered. "'Cause you never know. You never know what can happen in two days, five days, two weeks, two months." Samuel Arellano's family recently connected with Unite KC, which will pay for his ambulance bill, one of the hospital bills, and some therapy, worth about $6,000. The bill for the initial emergency room trip was about $20,000, his parents said, but the hospital had been reluctant to send it and ultimately covered the cost. And Unite KC also intends to pay off a $1,300 credit card bill for Emily Tavis and Jacob Gooch Sr. Unite KC has disbursed $40,000 so far and hopes to connect with more of the injured families, hoping to be as "generous and quick as we can," Kendall said. United Way will be like a "lightning bolt" for victims' relief, Kendall said, but his group is aiming for something different, more like a campfire that burns for the next year. "We agree this is a horrific thing that happened. It's a sad state of humanity but it's a real part," he said. "So we want to remind them that God has not forgotten you. And that although he allowed this, he has not abandoned them. We believe we can be like an extension of his love to these people." KFF Health News is a national newsroom that produces in-depth journalism about health issues and is one of the core operating programs at KFF—an independent source of health policy research, polling, and journalism. Learn more about KFF. Subscribe to KFF Health News' free Morning Briefing.
Does My Retirement Income Count as Income for Social Security? 2024-06-21 05:00:00+00:00 - Man looking at taxes from his social security Deciding when to take Social Security benefits is one of the most important questions to answer in planning your retirement strategy. Second to that is understanding what might increase—or reduce—your benefit amount. Does retirement income count as income for Social Security? No, but working while claiming benefits could shrink the amount that you’re able to collect. Talking to a financial advisor can help you to maximize Social Security benefits in retirement. Understanding Social Security Benefits Social Security retirement benefits are designed to provide a supplement source of income to eligible seniors. You can begin taking Social Security retirement benefits as early as 62, though doing so can reduce the amount you receive. Waiting until age 70 to begin taking benefits, meanwhile, can increase your benefit amount. Benefits are calculated based on your earnings history. Specifically, Social Security considers earned income, wages and net income from self-employment. If any money is withheld from your wages for Social Security or FICA taxes, then your wages are covered by Social Security since you’re paying into the system. When you apply for benefits, Social Security uses your average indexed monthly earnings to decide how much you qualify for. This average is based on up to 35 years of your indexed earnings and it’s used to calculate your primary insurance amount (PIA). The PIA determines the benefits that are paid out to you once you retire. Does Retirement Income Count as Income for Social Security? Retirement income does not count as income for Social Security and won’t affect your benefit amount. Specifically, the Social Security Administration excludes the following from income: Pension payments Annuity payments Interest or dividends from savings and investments None of these are considered earnings for Social Security purposes. Again, Social Security only looks at money that you actually earn from working a job or being self-employed. That means that you could collect Social Security benefits while also taking withdrawals from a 401(k) or individual retirement account (IRA) or receiving payments from an annuity. Reverse mortgages won’t affect your Social Security benefits or eligibility for Medicare either. With a reverse mortgage, you tap into your home equity but instead of making payments to a lender, the lender makes payments to you. You don’t have to pay anything back towards the reverse mortgage as long as you’re living in the home. Many retirees choose to supplement Social Security benefits with a reverse mortgage. Story continues Does Working in Retirement Reduce Social Security Benefits? Financial advisor explaining someone's retirement social security tax obligation Working while you’re also drawing Social Security benefits could reduce your monthly payments, depending on your age and earnings. Under Social Security rules, you’re considered to be retired once you begin receiving benefits. If you’re below full retirement age but still working, Social Security can deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2023, the limit is $21,240. In the year you reach your full retirement age (FRA), the deduction changes to $1 for every $3 earned above a different annual limit. For 2023, the limit is $56,520. Once you reach your full retirement age, your benefits are no longer reduced regardless of how much you earn. Social Security will also recalculate your benefit amount so that you get credit for any months that your benefits were reduced because of your earnings. Coordinating Retirement Withdrawals and Social Security Deciding when to take Social Security benefits starts with considering your other sources of retirement income. For example, that might include: 401(k) or 457(b) plans Traditional or Roth IRAs Pension plans Annuities Taxable brokerage accounts Savings accounts and CDs You could also add a health savings account (HSA) here, though it’s technically not a retirement account. An HSA lets you save money on a tax-advantaged basis for healthcare expenses but once you turn 65, you can withdraw money from it for any reason without a tax penalty. You would, however, pay ordinary income tax on the distribution. From a tax perspective, it usually makes sense to start with taxable accounts first, then tax-advantaged accounts for withdrawals, leaving Roth and Roth-designated accounts last. In doing so, you allow your Roth investments to continue growing tax-free until you need them. In terms of when to take Social Security benefits, delaying usually makes sense if you’re hoping to get a larger payout or you have other sources of income to rely on. You might also consider putting off taking benefits if you plan to continue working up until your full retirement age, as that could allow you to claim a larger benefit amount. A financial advisor can help you build an efficient plan for coordinating your retirement income. Get matched with a fiduciary financial advisor. Creating Multiple Streams of Income for Retirement Without Affecting Social Security Since retirement income doesn’t count as income for Social Security, it could be to your advantage to have more than one source that you can rely on. You might already be contributing to your 401(k) at work but you could add an IRA into the mix for additional savings. Whether it makes sense to choose a traditional or Roth IRA can depend on where you expect to be tax-wise once you retire. You might choose a traditional IRA if you expect to be in a lower tax bracket down the line but could benefit from claiming deductible contributions now. On the other hand, a Roth IRA might be preferable if you’d like to be able to withdraw money tax-free in retirement. An annuity is another option if you’d like to invest money now to generate guaranteed income later. When considering an annuity, it’s important to learn how different types of annuities work and what they can cost. Real estate might be another possibility if you’re looking for a passive income option that won’t affect your Social Security benefits. You could purchase a rental property or become a flipper, but owning property directly isn’t a requirement. You can also create passive investment income through real estate investment trusts (REITs), real estate crowdfunding platforms or real estate mutual funds. Talking to a financial advisor can give you a better idea of how to create multiple streams of income for retirement, without affecting your Social Security benefits. An advisor should also be able to help you formulate a strategy for getting the most benefits possible for yourself and your spouse if you’re married. Bottom Line Man confused with his social security Retirement income won’t affect your Social Security benefits, but income earned from working could. If you plan to draw Social Security while working, it’s helpful to know what that might mean for your benefits payout. Getting an early start with saving and investing for retirement could allow you to delay taking Social Security so that you’re able to claim a larger benefit. Retirement Planning Tips Working with a financial advisor can help you to fine-tune your retirement plan. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. Social Security benefits are taxable for retirees who have substantial income from wages, self-employment, interest and dividends. If you’re working while claiming benefits or earning interest and dividend income, you may have to pay taxes on some of your benefits, depending on how much income you have. Check out our free retirement calculator for a quick estimate on what you can expect based on your age, expected retirement and sources of income. Keep an emergency fund on hand in case you run into unexpected expenses. An emergency fund should be liquid -- in an account that isn't at risk of significant fluctuation like the stock market. The tradeoff is that the value of liquid cash can be eroded by inflation. But a high-interest account allows you to earn compound interest. Compare savings accounts from these banks. Photo credit: ©iStock.com/SrdjanPav, ©iStock.com/AJ_Watt, ©iStock.com/RollingCamera The post Does Retirement Income Count as Income for Social Security? appeared first on SmartReads by SmartAsset.
S&P 500, Nasdaq 100 Dip From Record Highs As Investors Take Chipmaker Profits; Energy Sector Rebounds, Yields Rise: What's Driving Markets Thursday? 2024-06-21 03:41:00+00:00 - S&P 500, Nasdaq 100 Dip From Record Highs As Investors Take Chipmaker Profits; Energy Sector Rebounds, Yields Rise: What's Driving Markets Thursday? After the Juneteenth holiday break, Wall Street reopened with a cautious tone, as the S&P 500 and Nasdaq 100 indices declined after hitting all-time highs around midday trading in New York. This decline was driven by profit-taking in chipmaker stocks and rising Treasury yields, which dampened risk sentiment. The iShares Semiconductor ETF (NASDAQ:SOXX) fell by 2.4%, marking its worst session since May 1, after reaching technically “overbought” levels earlier in the week. Oil prices surged above $81 a barrel, aiming for the highest close since late April. This was spurred by larger-than-expected drops in U.S. inventories last week, fueling a rally in oil-related companies. Small caps also softened, whereas blue chips saw a rebound, with the Dow Jones Industrial Average outperforming other major indices with a 0.4% gain. Long-dated Treasury yields rose, with the 10-year yield up by 5 basis points to 4.27%, following mixed economic data released earlier in the day. Jobless claims slightly increased more than expected last week, and a manufacturing activity gauge in the Philadelphia region fell short of estimates, reaching its lowest level in five months. Additionally, housing data showed sharp declines in both housing starts and building permits, reigniting concerns about a tight real estate market. Bonds fell, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) down 0.9%. The U.S. dollar index (DXY) rose 0.4%, with the greenback gaining ground against all major currencies. The Bank of England kept its key policy rate unchanged at 5.25%, as expected, while the Swiss National Bank cut rates by 0.25 percentage points to 1.25%. Consequently, the British pound and the Swiss franc fell by 0.5% and 0.8%, respectively, against the dollar. Gold, tracked by the SPDR Gold Trust (NYSE:GLD), rose by 1.1%, while Bitcoin (CRYPTO: BTC) remained flat below $65,000. Monday’s Performance In Major US Indices, ETFs Major Indices Price 1-day %chg Dow Jones 38,982.71 0.4% S&P 500 5,477.61 -0.2% Russell 2000 2,020.24 -0.3% Nasdaq 100 19,793.76 -0.6% Updated at 12:55 pm ET According to Benzinga Pro data: The SPDR S&P 500 ETF Trust (NYSE:SPY) was 0.3% lower to $547.24. The SPDR Dow Jones Industrial Average (NYSE:DIA) was 0.4% higher to $390.90. The tech-heavy Invesco QQQ Trust (ARCA: QQQ) was 0.6% lower to $482.43. Sector-wise, the Energy Select Sector SPDR Fund (NYSE:XLE) outperformed, up by 1.8%, while the Technology Select Sector SPDR Fund (NYSE:XLK) lagged, falling 0.9%. Story continues Monday’s Stock Movers The world’s biggest company Nvidia Corp. witnessed a 2% decline, while Qualcomm Inc. (NASDAQ:QCOM), Micron Technology Inc. (NASDAQ:MU) and Wolfspeed Inc. (NASDAQ:WOLF) all tumbled by over 5%. Advanced Micro Devices Inc. (NASDAQ:AMD) surged nearly 4%, outperforming all other chipmakers. This rise followed the announcement that Sun Singapore Systems , the largest parking solutions provider in Singapore, has selected AMD to power its AI-based parking management platform. Solar-related stocks experienced sharp declines after JPMorgan reduced price targets on Enphase Energy Inc. (NASDAQ:ENPH) from $128 to $124 and on SolarEdge Technologies Inc. (NASDAQ:SEDG) from $73 to $59. Gilead Sciences Inc. (NASDAQ:GILD) soared over 8% after the company announced that a twice-yearly antiviral injection had successfully prevented HIV in all test subjects during a trial involving thousands of women and girls in South Africa and Uganda. Accenture plc (NYSE:ACN) rose over 6%, despite missing both revenue and earnings estimate last quarter. Other stocks reacting to company earnings were The Kroger Company (NYSE:KR), down 2.8%, Darden Restaurants Inc. (NYSE:DRI), down 1.5%, Jabil Inc. (NYSE:JBL), down 8.7% and Commercial Metals Company (NYSE:CMC), up 5%. Read now: Supreme Court Upholds 2017 Tax On Foreign Profits For US Businesses Illustration created using artificial intelligence via MidJourney. "ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now! Get the latest stock analysis from Benzinga? This article S&P 500, Nasdaq 100 Dip From Record Highs As Investors Take Chipmaker Profits; Energy Sector Rebounds, Yields Rise: What's Driving Markets Thursday? originally appeared on Benzinga.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Why Nikola Stock Is Getting Crushed This Week 2024-06-21 03:03:00+00:00 - Nikola (NASDAQ: NKLA) has been working to grow a customer base for its hydrogen-fueled electric trucks. The company, in fact, announced a large order for the electric vehicles (EVs) last month. But investors haven't been impressed and Nikola stock has struggled. That has led to a dwindling stock price and now a decision to perform a reverse stock split. The details for a reverse stock split were provided this week, but investors already knew one was coming. Yet the reaction was for Nikola shares to tumble over 30% as of Thursday afternoon trading, according to data provided by S&P Global Market Intelligence. That's because one detail from the announcement didn't provide any new confidence among investors. Stock splits aren't always positive In early June Nikola shareholders approved a reverse stock split with a ratio of between 1-for-10 and 1-for-30. The board approved the maximum ratio it was allowed, and the 1-for-30 reverse split will be effective for the start of trading on Tuesday, June 25. Investors reacted negatively because it signals that Nikola's board doesn't have a large amount of confidence that the underlying business can help raise the stock price. The ultimate reason for the split was to get in compliance to remain listed on the Nasdaq Stock Market. Stocks can't trade below the $1 per share level for an extended period of time before being delisted. Just last month Nikola announced an order for 100 of its hydrogen fuel cell trucks to be used for drayage operations at California ports. That's a use case the company feels will be a good fit for the trucks. Nikola has already set up hydrogen fueling station infrastructure in Southern California to support that use case. But hydrogen infrastructure will be costly. Even with the new order announcement, it seems the board of directors still wanted a cushion for the share price to remain listed over the long term on the Nasdaq exchange. That's not making investors confident either. Should you invest $1,000 in Nikola right now? Before you buy stock in Nikola, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nikola wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $830,777!* Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. Story continues See the 10 stocks » *Stock Advisor returns as of June 10, 2024 Howard Smith has positions in Nikola. The Motley Fool recommends Nasdaq. The Motley Fool has a disclosure policy. Why Nikola Stock Is Getting Crushed This Week was originally published by The Motley Fool
567,000 chargers sold at Costco recalled after two homes catch fire 2024-06-20 23:39:00+00:00 - A Michigan company is recalling about 567,000 portable battery chargers sold at Costco nationwide after 120 reports of the product overheating while charging, with the devices linked to two residential fires. The recall involves myCharge POWER HUB All-In-One 10,000mAh portable chargers with model numbers AO10FK-A, AO10FK-B, and AO10FK-C. The chargers were sold at Costco stores and online from January 2022 through November 2023 for about $40, myCharge disclosed Thursday in a notice posted by the Consumer Product Safety Commission. Image of recalled myCharge portable battery charger. U.S. Consumer Product Safety Commission Birmingham, Mich.-based myCharge said it had received five reports of the made-in-China charges overheating, including the two home fires. Costco also received 115 returns of the chargers, with customers mentioning melting, expanding, smoking, fire, burning, exploding or sparking. There have been no reports of injuries requiring medical attention. Owners of the recalled chargers should stop using them and contact myCharge for a replacement. The company can be reached at (888) 251-2026 from 9 a.m. to 4 p.m. ET Monday through Friday; by email at compliance@mycharge.com; or on myCharge's website.
The Perplexity AI drama explained in 60 seconds 2024-06-20 21:51:40+00:00 - AI search startup Perplexity was accused of "ripping off" Forbes' work without sufficient attribution. Wired then alleged Perplexity likely used "a secret IP address" to access content not intended for AI. Forbes has threatened to take legal action against Perplexity. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement If you follow AI news, there's a decent chance you've seen Perplexity taking some heat on social media in recent weeks. The AI search engine, which can scan the internet in real time to provide answers, is valued at over $1 billion and has received funding from Jeff Bezos and Nvidia. Now, it's facing allegations of ripping off publishers' work without proper attribution. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .
Amazon Says It Will Stop Using Puffy Plastic Shipping Pillows 2024-06-20 21:49:52.926000+00:00 - They’re a familiar sight in Amazon packages: The plastic air pillows designed to keep products safe in transit, but that also end up in landfills by the billions. Now, under pressure from environmentalists to cut down on its use of plastic packaging, the world’s largest online retailer is close to replacing all of its puffy plastic pillows with recycled paper filler. Amazon says the move will avoid the use of almost 15 billion air pillows a year in North America. It is the Seattle-based retail giant’s “largest plastic packaging reduction effort” to date, the retail giant said in a news release on Thursday. It’s just one way companies are responding to an outcry from people and environmental groups over retailers’ use of plastic packaging, particularly as online shopping continues to surge.
Alabama man pleads guilty to threatening Fulton County DA Fani Willis 2024-06-20 21:30:16+00:00 - An Alabama man pleaded guilty on Tuesday after threatening Fulton County District Attorney Fani Willis and Sheriff Patrick Labat for prosecuting and processing Donald Trump’s election interference charges in Georgia. The threats against Willis and Labat, who are both Black, are part of a disturbing trend of Trump supporters threatening violence against government officials who’ve been portrayed in conservative media as Trump’s political enemies. The Atlanta Journal-Constitution detailed the threats made by Ray Hanson, a 58-year-old Alabama man, in its report. Per the AJC: At Tuesday’s plea hearing, Assistant U.S. Attorney Bret Hobson said Hanson called the Fulton County Government customer service line on Aug. 6 — a week before Trump’s indictment — at 11:25 a.m. and first left a voicemail for Labat, which lasted about a minute and a half. ‘If you think you gonna take a mugshot of my President Donald Trump and it’s gonna be ok, you gonna find out that after you take that mugshot, some bad (expletive)’s probably gonna happen to you,’ Hanson said in the voicemail, among other threatening statements. The voicemail also said, ‘I’m warning you right now before you (expletive) up your life and get hurt real bad.’ Hanson didn’t stop there: Five minutes later, Hanson again called the customer service line and left a voicemail for Willis. ‘I would be very afraid if I were you because you can’t be around people all the time that are going to protect you; there’s going to be moments when you’re going to be vulnerable,’ Hanson said in the message, according to court records. ‘When you charge Trump on that fourth indictment, anytime you’re alone, be looking over your shoulder,’ he continued. As frightening as these threats sound, it appears Hanson is primed to receive a slap on the wrist. After pleading guilty, claiming he’s “not a violent person” and that he just “made a stupid phone call,” the U.S. attorney assigned to the case has said they’re seeking leniency because Hanson admitted to his crimes. Willis spoke out last year about the death threats, many of them racist, that she’s received as she’s sought to prosecute Trump on charges of pressuring Georgia officials to overturn the state’s 2020 election results and falsely name him the winner over Joe Biden. Hanson’s guilty plea is a reminder of the violent threats that face Black officials nationwide. My colleague Clarissa-Jan Lim reported earlier this week on a Texas man who sent racist death threats to California Rep. Maxine Waters, whom conservatives often frame as a major Trump foil. Lim also cites a 2022 report that found women of color are more likely than their white counterparts to face violent threats online. This disturbing trend is why the National Black Prosecutors Association last year condemned Trump’s claim that it’s “racist” for Black prosecutors like Willis to attempt to hold him accountable. Trump and other Republicans have been grooming their followers to meet Black officials with contempt and mistrust. The violent threats are a natural result of their refusal to stop.