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Mountain Landslide Destroys Section of Highway to Jackson, Wyo. 2024-06-09 10:28:13+00:00 - A landslide in the Teton mountains destroyed part of a highway that links Idaho with Jackson, Wyo., forcing the authorities to close the road indefinitely on Saturday just as the area was entering its summer tourism season. No one was injured when a section of the Teton Pass “catastrophically failed,” the Wyoming Department of Transportation said in a statement on Saturday. The highway west of Jackson had been closed to traffic before the road gave way, and crews were working to build a detour around a section where a crack had appeared in the surface days earlier. The department said it expected a long-term closure. Gov. Mark Gordon of Wyoming said in a separate statement that geologists and engineers would “develop a long-term solution to rebuild the roadway.” Even a short closure would pose major logistical challenges for the area, in part because the road serves Jackson Hole, a major tourism hub in Teton County. Travel and tourism is Wyoming’s second-largest industry, according to the Jackson Hole Travel and Tourism Board, and the county took in about $1.7 billion in travel-related spending in 2022.

Hey, Siri! Let’s Talk About How Apple Is Giving You an A.I. Makeover. 2024-06-09 09:04:02.794000+00:00 - Each June, Apple unveils its newest software features for the iPhone at its futuristic Silicon Valley campus. But at its annual developer conference on Monday, the company will shine a spotlight on a feature that isn’t new: Siri, its talking assistant, which has been around for more than a decade. What will be different this time is the technology powering Siri: generative artificial intelligence. In recent months, Adrian Perica, Apple’s vice president of corporate development, has helped spearhead an effort to bring generative A.I. to the masses, said two people with knowledge of the work, who asked for anonymity because of the sensitivity of the effort. Mr. Perica and his colleagues have talked with leading A.I. companies, including Google and OpenAI, seeking a partner to help Apple deliver generative A.I. across its business. Apple recently struck a deal with OpenAI, which makes the ChatGPT chatbot, to fold its technology into the iPhone, two people familiar with the agreement said. It was still in talks with Google as of last week, two people familiar with the conversations said.

‘Bad Boys’ Ticket Buyers Toss Will Smith a Career Lifeline 2024-06-09 09:02:52+00:00 - Moviegoers sent Will Smith a clear message over the weekend: We forgive you. “Bad Boys: Ride or Die,” the fourth entry in the Sony Pictures franchise — and Mr. Smith’s first wide release since he slapped Chris Rock at the Academy Awards in 2022 — arrived to roughly $56 million in ticket sales in the United States and Canada, according to Sony. That No. 1 result was a career milestone for Mr. Smith: He now has 15 first-place debuts as a leading man on his résumé. “Ride or Die,” which returned Mr. Smith to one of his signature roles, cost an estimated $100 million to make, not including marketing. It received positive reviews, with many critics noting a comedic moment that seemed to refer to Mr. Smith’s behavior at the 2022 Oscars: Mr. Smith is slapped by his co-star, Martin Lawrence, and called a “bad boy.” Ticket buyers gave the R-rated “Ride or Die” an A-minus grade in CinemaScore exit polls. The Rotten Tomatoes audience score stood at 97 percent positive on Saturday.

What Retail Apocalypse? Shopping Centers Are Making a Comeback. 2024-06-09 09:00:52+00:00 - Shopping center landlords have found themselves in a wholly unfamiliar position: For the first time in 20 years, demand for retail space outstrips supply. That demand has soared recently and, after years of muted construction and a purge of weak-performing properties, met a retail market with less available space. Properties that survived the purge signed up tenants that would draw more shoppers and give them more reason to linger. That meant more restaurants and venues that promote recreational experiences, like ax throwing and, more recently, pickleball. It also meant less space for traditional retailers that weren’t performing as well, like bookstores and apparel brands. Because of those moves, “there’s not as much redundancy from tenants, and landlords are creating much more robust tenant mixes,” said Barrie Scardina, president of Americas retail services, agency leasing and alliances for Cushman & Wakefield, a real estate firm. “We are seeing some of the most productive occupancy recorded in the last 10 years.” Shopping center vacancy is the lowest it has been in two decades, at 5.4 percent, Cushman & Wakefield said in a recent report, and the edge in lease negotiations has shifted from tenants back to landlords.

Is Your Driving Being Secretly Scored? 2024-06-09 09:00:39+00:00 - You know you have a credit score. Did you know that you might also have a driver score? The score reflects the safety of your driving habits — how often you slam on the brakes, speed, look at your phone or drive late at night. While you can see your credit score, you will have a harder time finding out what your driving score is. But auto insurance companies can get it — and that could affect the rate you pay. For the last two decades, auto insurers have been trying to get people to enroll in programs, commonly called usage-based insurance plans, that monitor their day-to-day driving so rates better reflect the actual risk. But privacy-minded consumers have been reluctant to sign up. So the industry has taken a different tack, getting data about how people drive from automakers or from apps that drivers already have on their phones. Experts say most people have no idea the insurance industry can track them this way.

German, French far-right gains offer signs of shifting tone in E.U. Parliament vote 2024-06-09 08:33:00+00:00 - BRUSSELS — The far-right was seen scoring big gains in Germany and France in Sunday’s E.U. election, opinion polls showed, joining the Netherlands in offering the first signs that an expected rightwards shift in the European Parliament is under way. In France, Marine Le Pen’s far-right National Rally party won around 32% of the votes, a 10 point increase on the last E.U. election in 2019 and some 17 points ahead of President Emmanuel Macron’s party, according to the first exit polls. More mainstream conservatives were also forecast to do well across Europe, with early estimates for both groups in line with an expected broader shift in the European Parliament which covers a bloc of 450 million citizens. All this means the new European Parliament is likely to be cooler on policies to address climate change while eager to support measures to limit immigration to the E.U. The parliament could also be more fragmented, which would make adopting any measure trickier and slower as the E.U. confronts challenges including a hostile Russia and increased industrial rivalry from China and the United States. Early exit polls showed that parties grouped in the centre-right European People’s Party (EPP) were projected to remain the largest bloc across five countries, including Germany and Greece. That would put the EPP’s candidate to head the European Commission, incumbent Ursula von der Leyen of Germany, in pole position for a second term. Congratulating her party colleagues in Germany via video link, von der Leyen said she was optimistic that the EPP would emulate the election victory scored by its German conservative members. “We still have more waiting to do in Brussels because polls are still open in several member states, but that makes the trend you are setting all the more welcome,” she said. “It’s a great result, and now we need to follow up on it around Europe, and I’m confident we will.” European Commission President Ursula von der Leyen speaks Sunday in Brussels. John Thys / AFP - Getty Images In Germany, the far-right Alternative for Germany took second place behind the opposition conservatives with 16.5% of the vote, up from 11% in 2019, according to an exit poll published by public broadcaster ARD. Meanwhile, in Austria, the far-right Freedom Party is the likely winner of the ballot, according to a poll based on surveys carried out over the past week and published as voting there closed on Sunday evening. In the Netherlands, which voted on Thursday, exit polls showed nationalist Geert Wilders’ anti-immigration party was set to win seven of the 29 Dutch seats in the E.U. assembly, just one short of the combined seats of a Socialist Democrat-Greens alliance. Right turn Voting began on Thursday in the Netherlands and in other countries on Friday and Saturday, but the bulk of E.U. votes were cast on Sunday, with France, Germany, Poland and Spain opening their polls and Italy holding a second day of voting. The European Parliament votes legislation that is key for citizens and businesses in the 27-nation EU. “I don’t always agree with the decisions that Europe takes,” 89-year-old retiree Paule Richard said after voting in Paris. “But I still hope that there will be a reckoning in all European countries, so that Europe can be a unified bloc and look in the same direction.” A monk from the Sint-Sixtus Abbey opens the curtain to a voting booth Sunday after casting his vote in Vleteren, Belgium. Geert Vanden Wijngaert / AP For many years, voters across the bloc have complained that EU decision-making is complex, distant and disconnected from daily realities, which explains often low turnout in E.U. elections. “People don’t know who really has the power, between the Commission and Parliament,” another French voter, Emmanuel, said in a northern Paris polling station. “And it’s true that it raises questions and breeds mistrust which today might not exist if things were clearer,” the 34-year old programmer said. Many voters have been hit by the cost of living, have concerns about migration and the cost of the green transition and are disturbed by geopolitical tensions, including war in Ukraine. Hard and far-right parties have seized on this and offered the electorate an alternative. “Whoever believes that we need a change of course and that things can be done much better in Brussels has only one alternative, which is Vox,” the leading candidate for the far-right Spanish party, Jorge Buxade, said after voting in Madrid.

Large chunk of Wyoming’s Teton Pass road collapses; unclear how quickly it can be rebuilt 2024-06-09 00:41:12+00:00 - JACKSON, Wyo. (AP) — A large chunk of a twisting mountain pass road collapsed in Wyoming, authorities said Saturday, leaving a gaping chasm in the highway and severing a well-traveled commuter link between small towns in eastern Idaho and the tourist destination of Jackson. Aerial photos and drone video of the collapse show the Teton Pass road riven with deep cracks, and a big section of the pavement disappeared altogether. Part of the guardrail dangled into the void, and orange traffic drums marked off the danger area. The road was closed at the time of the collapse. The section that failed first drew attention Thursday when a crack and drop in the road contributed to the crash of a motorcycle. Geologists and engineers who were sent to the area that day noticed “that crack and that drop started to move a lot,” said Stephanie Harsha, a spokesperson for District 3 of the Wyoming Department of Transportation. A paving crew temporarily patched the road, and traffic began moving again that night. But that was short-lived as maintenance crews were sent to respond to a mudslide a couple of miles away in the pre-dawn hours of Friday, prompting the road to be closed once again. Crews then noticed that the damage to the pavement had become more pronounced. Workers trying to figure out a detour around that section left for the night, “and by 5 a.m., this morning, WYDOT had discovered that the road had completely failed,” Harsha said Saturday. “We were very, very lucky that no crews were harmed. No equipment was damaged,” she said. “So now, engineers and geologists are doing geological assessments on the pass. They’ve been looking at it all day.” The transportation department said via social media that the road “catastrophically failed” at milepost 12.8. It was not immediately clear how long it will take to reopen the road, a vital artery for people who live across the border in Idaho and work in pricey Jackson, which is also close to the popular Grand Teton National Park. Harsha said an alternate route between Jackson and the area of Victor, Idaho, goes more than 60 miles (97 kilometers) out of the way and adds “quite a bit to any commute.” Gov. Mark Gordon signed an executive order declaring an emergency, which his office said would help the state access additional resources from the Federal Highway Administration to begin repair work. In a statement, the governor said the transportation department is working on “a long-term solution to rebuild this critical roadway.” “I recognize the significant impacts this closure has to Teton County residents, regional commuters and the local economy,” Gordon said.

Kia Recalls Telluride SUV Over Fire Risk; Urging Owners to Park Outside 2024-06-09 00:23:33.961000+00:00 - The automotive company Kia issued a recall on Friday of certain Telluride SUVs from the years 2020 through 2024 and urged the owners of the vehicles to park outside and away from structures because of a fire risk, the National Highway Traffic Safety Administration said. The issue stems from the front power seat motor, which can overheat “because of a stuck power seat slide knob, potentially resulting in a fire and increasing the risk of injury,” the NHTSA said in a statement. “To fix the issue, dealers will install a bracket for the power seat switch back covers and replace the seat slide knobs, free of charge,” the statement said. Kia recommended that drivers park outside until repairs were completed. About 460,000 vehicles could be affected by the recall, according to the NHTSA, and notices informing owners of affected Tellurides are expected to be mailed beginning July 30.

Saratoga’s Crowning Moment 2024-06-08 16:43:41+00:00 - Summer at the Spa — a ritual nearly 200 years strong — started early in Saratoga Springs, N.Y., with the third leg of the Triple Crown, the Belmont Stakes, being held on Saturday for the first time at Saratoga Race Course, a revered relic where the elite and otherwise mingle, but the horses rule. Broadway, the city’s central thoroughfare, bustled. Lines for picnic tables at the track formed before dawn. A new color — Belmont green — blended with the track’s signature red-and-white trimmings. Owners, trainers, horseplayers and the cooler-toting faithful all hailed the break from tradition for the race’s 156th running. A roar rose from the old wooden grandstand as the horses entered the starting gate for the main event. It did not disappoint. The 17-1 longshot Dornoch, ridden by Luis Saez and trained by Danny Gargan, held off Mindframe and Sierra Leone for a stunning victory.

MarketBeat Week in Review – 6/3 - 6/7 2024-06-08 11:00:00+00:00 - After dropping initially, equity markets are shrugging off a much hotter-than-expected jobs report. While not a full-fledged rally, the market seems to be ignoring the headline number and paying more attention to the details inside the report. That headline number showed that 272,000 jobs were created in May 2024, much more than the 190,000 jobs expected. A number like that would seem to cut any thoughts of an interest rate cut before November. However, as more than 600,000 viewers of Keith Gill's (aka Roaring Kitty) livestream showed, this market doesn't need much reason to become bullish. Investors will receive updated inflation data when the latest readings on the consumer price index (CPI) and producer price index (PPI) are released next week. With the market between earnings seasons, this could cause an outsized market move in one direction or another. Get ZIM alerts: Sign Up Articles by Jea Yu This week, Jea Yu wrote about the surge in Zim Integrated Shipping Service Ltd. NYSE: ZIM stock, which was already up 128% before reporting earnings. The company is benefiting from shipping rates that have tripled due to the Red Sea conflict. That's not the same as saying demand is strong, but Yu explains how investors can profit from the move. Yu also wrote about the earnings report from C3.ai Inc. NYSE: AI. The company has largely failed to live up to the AI hype, but 20% year-over-year revenue growth in its last quarter may be the first sign the company's fortunes are changing. Although AI will continue to be a hot sector for investors, another series of letters will follow from companies in the GLP-1 business. That's the abbreviation for Glucagon-like peptide-1, the key hormone targeted by weight loss drugs. Hims & Hers Health Inc. NYSE: HIMS is the latest company to enter this market, and Yu explains how you might think of getting involved. Articles by Thomas Hughes While not 100% accurate, analyst upgrades have a strong track record of predicting future success for stocks. That's why you should check out Thomas Hughes's article about the stocks receiving the most analyst upgrades after they've reported earnings. Congressional buying and selling stirs investors' passions. However, it's fair play until it's not, and Hughes points investors to the most bought and sold stocks by members of Congress this quarter. It's been a bad year for Tesla Inc. NASDAQ: TSLA. And as Thomas Hughes points out, it may get worse. Hughes explains why short-term headwinds are putting the company's valuation in the crosshairs, and while the true believers still believe it's more than a car company, that may not be enough to prevent a bigger drop in TSLA stock. Articles by Sam Quirke When an AI software company like MongoDB Inc. NASDAQ: MDB stock drops over 25% despite posting impressive revenue and earnings beats, investors have to wonder why. In this case, it was guidance and the idea that a company like MongoDB may be ahead of the current growth in AI. Nevertheless, Sam Quirke reminds investors that analysts still love the stock, which could make this a buyable dip. Speaking of buying stocks on the dip, Quirke was writing about what looks to be a pattern reversal for Amazon.com Inc. NASDAQ: AMZN. The stock hit resistance at its 52-week high in early May, but Quirke explains why it looks like that pullback is over and it may be time for investors to buy back in as the stock may push past what has been a key level of resistance. Articles by Chris Markoch It's always tricky to talk about a stock being "the next" something. That's exactly what Chris Markoch did this week when analyzing the earnings report from Birkenstock Holding plc NYSE: BIRK. The company has a much higher valuation than Crocs Inc. NASDAQ: CROX, but Markoch points out that the two companies may have more similarities than their cult-like footwear. Markoch was also writing about Chevron Corp. NYSE: CVX. The stock has underperformed the broader market even as it continues to deliver record output. For a short-term trader, Chevron may be dead money, but if you're looking at the long term, CVX stock is an attractive play. Articles by Ryan Hasson While investors' eyes remained glued on Nvidia (or maybe Roaring Kitty) this week, Ryan Hasson wrote about the stellar earnings report from Verint Systems Inc. NASDAQ: VRNT. The stock is up 35% in 2024, and as Hasson notes, the company raised its guidance with the expectation of AI-fueled growth that may give the stock room to run. Hasson also wrote about the four stocks receiving a significant and recent amount of insider buying. Remember, investors sell stocks for many reasons, but they only usually buy when they believe the stock will move higher. Articles by Gabriel Osorio-Mazilli We couldn't let this week pass without at least one article covering the price action happening with one of the market's favorite meme stocks, GameStop Corp. NYSE: GME. Gabriel Osorio-Mazilli wasn't the only analyst to cover what's happening with the meme stock, but if you haven't been keeping up with the hype, this will help you understand why the stock was so volatile this week. A distinguishing feature of GameStop is high short interest that could produce a short squeezethat'shat's a way you like to trade, Osorio-Mazilli points out three stocks with high short interest that could be ready to squeeze higher for investors. Osorio-Mazilli also had his eyes on the closely watched cybersecurity sector and analyzed two cybersecurity stocks that were drawing bullish attention from institutional investors and analysts. With short sellers in retreat, these stocks may merit a place on your watchlist. → Top 5 Tech Stocks to Buy for 2024 (From Daily Market Alerts) (Ad) Before you consider ZIM Integrated Shipping Services, 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 ZIM Integrated Shipping Services wasn't on the list. While ZIM Integrated Shipping Services currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Mortgage closing fees are in the hot seat. Here's why the feds are looking into them. 2024-06-08 09:56:00+00:00 - The Consumer Federal Protection Bureau last week launched an inquiry into what the agency is calling "junk fees in mortgage closing costs." These additional fees, involving home appraisal, title insurance and other services, have spiked in recent years and can add thousands of dollars to the final cost of buying a home. Here's a deeper dive into the additional mortgage fees buyers pay before getting the keys to their new home and why five types of charges in particular are currently being looked at by the CFPB. What are mortgage junk fees? According to the CFPB, junk fees are those that "far exceed the marginal cost of the service they purport to cover." Although mortgage companies can charge a homebuyer more than 200 different fees to close on a property, the CFPB is particularly interested five types of fees and services that have seen price spikes in recent years, an official with the agency told CBS MoneyWatch. They include discount points, credit report fees, home appraisal fees and title insurance. Discount points: Also known as "mortgage points," discount points are upfront fees homebuyers pay to lower the interest rate on their home loan. Mortgage companies pocket the buydown fee, as it is also sometimes called. Credit report fees: As the name suggests, credit report fees are what home lenders charge buyers for conducting a credit report on the borrower. Those fees go to the three major credit reporting agencies — Equifax, Experian or TransUnion. Home appraisal fees: Also known as property appraisal fees, these are fees lenders charge homebuyers to have a private appraiser visit the property being purchased and place a fair market value on the home. Title insurance fee: Mortgage companies also charge homebuyers for getting a title insurance policy, which covers the lender in case there's a lien on the property once a title search is conducted. Mortgage origination fee: Typically between 0.5% and 1% of the cost of the home itself, the mortgage origination fee is what the home lender charges a homebuyer for starting a new home loan application. Why have these fees increased in recent years? For the most part, home appraisal and credit report fees have increased because of rising inflation and rising labor costs, one expert told CBS MoneyWatch, but mortgage origination fees are a different story. "Some of these are set as a percentage of the transaction price of the house," said Susan Wachter, a real estate professor at the University of Pennsylvania who studies housing finance. "When housing prices go up, so do the fees." Wachter said that now is a good time for the CFPB to look into what's causing closing fees to increase, but emphasized that many of the services and fees are are essential to the homebuying process. What are the government's concern about mortgage junk fees? The CFPB is worried that junk fees may be eating away at homebuyers' ability to place a reasonable down payment on their home. Excessively high closing fees may also lead buyers to fall behind on mortgage payments, officials believe. The typical homebuyer paid roughly $6,000 in loan closing costs in 2022 — an amount that included paying discount points, title insurance, appraisal, credit report and other fees, according to the CFPB. That's up from $4,889 in 2021. The agency is investigating whether mortgage fees have climbed too high, along with possible solutions such as new regulation to lower them, the elimination of certain fees altogether or having someone other than the homebuyer pay the fees, the official told CBS MoneyWatch. For now, the CFPB has asked homebuyers to share stories of how much they paid after closing on a home. That information will be used to determine the agency's next step. How are costly mortgage fees affecting homeownership? The U.S. homeownership rate has fallen from 66% in 2023 to 65.6% in the first quarter of 2024. The two biggest hurdles to increasing the homeownership rates are a lack of affordable properties and buyers' inability to save for a down payment, according to research from the National Association of Realtors. Excessive mortgage fees exacerbate those hurdles by eating away at homebuyers' purchasing power. Junk fees keep would-be homebuyers who are financially constrained on the sidelines, according to Wachter. In most areas of the country, it's cheaper to rent housing than buy and "that's because of down payments and those fees," she said. "It makes becoming a homeowner daunting," Wachter said. "And rents are high too, so for young adults who are either living with their parents or with their buddies, [obtaining homeownership] is much more difficult for them than their older siblings or their parents." What do banks and lenders have to say about excessive closing fees? The Mortgage Bankers Association (MBA), the trade group covering real estate finance, said there isn't much lenders can do to lower or eliminate mortgage closing fees because the services they cover are legally required. "Many of those disclosed costs, such as title, appraisal and credit reports are required by federal statutes, safety and soundness guidelines, and the Federal Housing Administration, Department of Veterans Affairs, and Fannie Mae and Freddie Mac as a condition of buying and insuring a mortgage," the association said in a statement last week. "Moreover, the services these fees cover mitigate risk for taxpayers and borrowers alike." The MBA said lenders worked with the CFPB a decade ago on making sure mortgage fees were laid out clearly for buyers on mortgage disclosure forms. Rules that govern the mortgage process fall under the 2010 Dodd-Frank Act. If the CFPB wants to make changes, amending the Dodd-Frank Act "is the only appropriate vehicle to initiate that work," the MBA said.

As consumers pump the brakes on EV purchases, hybrid production ramps up 2024-06-08 01:04:00+00:00 - There's been a noticeable change at the Ford F-150 plant in Dearborn, Michigan. Production manager Cortni Reeves said that on one particular day, one out of every seven trucks is a hybrid. "Every 53 seconds," she said, "we have a truck come off this assembly line." A year ago, only one out of 10 trucks produced was a hybrid, marking a 30% increase in hybrid production and showing that hybrids are what consumers are demanding. It is a sharp about-face for electric vehicles. A recent AAA survey indicates a decline in American interest in purchasing electric vehicles, with only 18% of U.S. adults likely to buy an EV, down from 23% last year. In contrast, the survey found interest in hybrids is growing, with 31% of consumers expressing a likelihood of purchasing one. The main concerns deterring potential EV buyers are high costs, limited charging infrastructure and range anxiety. Meanwhile, hybrids, which run on both battery power and gasoline, saw sales surge 53% in 2023 to a record high. Hybrids now make up 9% of new car sales, compared to about 7% for electric vehicles, according to MotorTrend, an American automobile magazine and the Department of Energy. "There's really no compromise for the hybrid customer," said Andrew Frick, president of Ford Blue, which makes the company's gas and hybrid vehicles. Ford recently set a new record for monthly hybrid sales and plans to quadruple production in the next five years. Frick said the company wants to cater to customer demand and can do so by finding a "balanced approach of gas, hybrid and electric vehicles." The Biden administration's regulations are pushing automakers to rapidly electrify their vehicles since transportation is the top source of planet-warming emissions in the U.S. Over its lifetime, an EV produces 50% less CO2 than a gas-powered vehicle, while a hybrid cuts it by 25%, according to the National Renewable Energy Laboratory. Decarbonizing the American auto fleet would take longer if consumers choose hybrids over EVs. But while EV sales are seeing a decline, Eric Tingwall, testing director with MotorTrend, says EV sales are still happening, but are "growing much slower than they had been a year ago or two years ago." Tingwall believes hybrids may be the bridge to an electric future for mainstream buyers. "The near-term future is hybrid, plug-in hybrid, electric, and some gas vehicles as well," Tingwall said.

United Airlines passengers to see targeted ads on seat-back screens 2024-06-07 22:58:00+00:00 - Here are your new rights as airline passengers Here are your new rights as airline passengers 02:09 Marketing in the friendly skies is getting personal, with United Airlines now displaying targeted ads on seat-back screens as the carrier looks to cash in on customer data. United passengers who toggle through the in-flight film and TV show options already see ads during programming. That includes a 30-second commercial that will now reflect the information United has compiled on individual travelers, like where they live and destinations they've traveled to. "We've built a first-of-its-kind, real-time, adtech-enabled traveler media network where brands have already started connecting to premium audiences at an unmatched scale," Richard Nunn, CEO of United's MileagePlus, said Friday in a statement announcing the launch. "There has been a huge strategic shift within this high-growth sector in the past five years, where advertisers and brands have come together to determine how best to connect with consumers in a way that's valuable, effective and personalized," according to Nunn. The airline has nearly 100,000 seat-back screens across its fleet, with the potential for 3.5 hours of attention per traveler, based on average flight time. United said it would will only use information on passengers 18 and older, and all customers have the option of opting-out of the targeted advertising at any time. The Department of Transportation in March disclosed an industrywide review of data security and privacy policies across the nation's biggest airlines to determine if they are adequately protecting passengers' personal information. "Airline passengers should have confidence that their personal information is not being shared improperly with third parties or mishandled by employees," U.S. Transportation Secretary Pete Buttigieg stated in a statement at the time.

Kia recalls about 460,000 Tellurides and tells owners to park outside because of fire risk 2024-06-07 21:51:00+00:00 - KIA owners can get free software update at Mall of America KIA owners can get free software update at Mall of America 01:39 Kia America is recalling nearly 463,000 Telluride SUVs — urging owners to park their vehicle outside in case the seat spontaneously catches fire, federal highway safety regulators warned Friday. The South Korean automaker announced a recall of certain Tellurides from model years 2020-2024 because the motor that controls the power seats on the vehicles can potentially overheat. Kia America estimates that 1% of the SUVs have the defect. The recall covers Tellurides that were built between January 2019 and May 2024, according to recall documents Kia submitted to the National Highway Traffic Safety Administration (NHTSA). Telluride front power seats are equipped with tiny motors that allow passengers to adjust their position. The seat adjustment function is controlled by a switch wrapped in a cover. In recall documents, Kia said that the adjustment switch on the power seat can dislodge if hit too forcefully, locking in the position of the seat while the seat motor is still running. "A misaligned seat motor control switch with a stuck seat slide knob can lead to continuous operation of a seat motor," Kia said in the recall. "Over time, this can result in overheating of a seat motor, thereby increasing the risk of a fire while driving or while parked." In a separate document to NHTSA, Kia said it has received one report of an under-the-seat fire from a Telluride owner, along with six reports of the seat motor melting. No crashes or injuries have been reported related to the power seat issue, Kia said. Telluride owners can recognize if their vehicle is at risk of fire if passengers cannot adjust their seat, if they smell burning under a seat or if they see smoke coming from that area, Kia said in the recall. Kia said it plans to fix the issue by installing a bracket for the seat switch. Dealerships will install a bracket for free for eligible owners, who will be notified by mail by the company on July 30. All Tellurides manufactured after May 30 have already had the seat issue resolved, Kia said in the recall. Owners with questions about the recall can contact Kia at 1-800-333-4542 and use the recall number SC316. Owners can also contact the NHTSA at 1-888-327-4236. Previous Telluride recall This isn't the only recall impacting Kia Telluride owners. In March, Kia said it would be recalling more than 427,000 of 2020 to 2024 Telluride SUVs due to a defect that may cause the cars to roll away while they're parked. The power seat issue also marks Kia's second major recall of 2024. In March, Hyundai and Kia recalled a combined 147,110 electric vehicles because a part inside the cars may stop charging their batteries. Last fall, Hyundai and Kia announced previous "park outside" recalls for 3.4 million other car and SUV models due to a risk of engine compartment fires. Amid long-delayed repairs, many of those vehicles remained on the road months later, raising concerns from drivers and consumer safety advocates. Hyundai owns part of Kia, though the two companies operate independently. — The Associated Press contributed to this report.

Trader Joe's mini cooler bags sell out fast, just like its mini totes 2024-06-07 21:18:00+00:00 - Video shows Trader Joe's shoppers lining up in N.J. for mini cooler bags Video shows Trader Joe's shoppers lining up in N.J. for mini cooler bags 00:38 Customers like Trader Joe's mini accessories so much that they are willing to pay hundreds of dollars for bags that retail for just a few bucks. The grocery chain is now selling mini insulated tote bags in stores for $3.99 each after it quickly sold out of $2.99 mini canvas tote bags that proved so popular that they were selling on resale sites for up to 200 times their retail price. The mini bags have become a mega trend, with the insulated versions listed for sale on resale sites like Ebay for up to $50 each. The bags come in two colors — "hot magenta" and "cool teal." Consumers are scouring resale sites just days after the bags were released and given that they are already sold out at some grocery stores, according to posts on social media. Trader Joe's touts the mini bags as "Great for lunches, travel & outdoor activities." They hold up to 1.5 gallons of food and drink. It's unclear why the items, which resemble traditional kids' lunch bags with soft exteriors, are so popular. Instagram account @trader_joes_treasure_hunt, described as a fan page that shares new finds from the grocer with its followers, first shared an image of the mini cooler bags five days ago, when the account holder spotted them in a store. "They should be out by Tuesday the 4th! Who's excited and making an extra pit stop to pick them up," the post read. More than 6,000 Instagram users liked the post on social media. Other users who'd snapped up the bags indicated that shoppers are limited to buying two per customer. A spokesperson for Trader Joe's told CBS MoneyWatch the company expects to have more cooler bags in stock "later this summer," and that purchase limits are set by individual stores.

How major US stock indexes fared Friday, 6/7/2024 2024-06-07 20:16:05+00:00 - Stocks slipped and Treasury yields rose sharply after the government released a jobs report whose headline numbers came in hotter than expected. Overall, the report suggests markets may have to wait even longer for interest rate cuts from the Federal Reserve. The S&P 500 ended 0.1% lower Friday after giving up a midday gain. The Dow Jones Industrial Average fell 0.2% and the Nasdaq composite fell 0.2%. GameStop, the struggling video game retailer at the center of the current meme stock craze, plunged 39% after reporting another loss and announcing plans to sell up to 75 million more shares. On Friday: The S&P 500 fell 5.97 points, or 0.1%, to 5,346.99. The Dow Jones Industrial Average fell 87.18 points, or 0.2%, to 38,798.99. The Nasdaq composite fell 39.99 points, or 0.2%, to 17,133.13. The Russell 2000 index of smaller companies fell 22.89 points, or 1.1%, to 2,026.55. For the week: The S&P 500 is up 69.48 points, or 1.3%. The Dow is up 112.67 points, or 0.3%. The Nasdaq is up 398.11 points, or 2.4%. The Russell 2000 is down 43.57 points, or 2.1%. For the year: The S&P 500 is up 577.16 points, or 12.1%. The Dow is up 1,109.45 points, or 2.9%. The Nasdaq is up 2,121.77 points, or 14.1%. The Russell 2000 is down 0.52 points, or less than 0.1%.

Argan, Graham rise; Vail Resorts, Tilly’s fall, Friday, 6/7/2024 2024-06-07 17:22:14+00:00 - NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Friday: Emerson Electric Co., up $2.01 to $107.98. The maker of process controls systems is selling its remaining stake in its Copeland joint venture for about $3.5 billion. Vail Resorts Inc., down $20.01 to $173.94. The ski resort operator’s fiscal third-quarter earnings and revenue fell short of analysts’ forecasts. Concrete Pumping Holdings Inc., down 98 cents to $6.56. The concrete pumping services company trimmed its revenue forecast for the year. Quanex Building Products Corp., up $1.21 to $31.68. The housing materials maker beat analysts’ fiscal second-quarter earnings and revenue forecasts. Argan Inc., up $7.21 to $76.35. The builder of energy plants beat Wall Street’s first-quarter earnings forecasts. Tilly’s Inc., down 18 cents to $5.62. The clothing and accessories retailer gave investors a weaker-than-expected earnings forecast for its current quarter. J.Jill Inc., up $2.74 to $37.95. The retailer of women’s clothes, shoes and accessories beat analysts’ first-quarter earnings forecasts. Graham Corp., up $1.59 to $27.65. The maker of vacuum and heat-transfer equipment beat Wall Street’s fiscal fourth-quarter financial forecasts.

Geron Corporation: FDA Approval Fuels Stock Price Surge 2024-06-07 16:56:00+00:00 - Geron Today GERN Geron $4.59 +0.70 (+17.99%) 52-Week Range $1.64 ▼ $5.15 Price Target $6.50 Add to Watchlist The recent FDA approval of RYTELO™ (imetelstat) has propelled Geron Corporation NASDAQ: GERN into the spotlight, sparking a surge in Geron’s stock price and attracting heightened attention from investors seeking opportunities within the healthcare sector and biotech sector. This momentous achievement marks a turning point for Geron and underscores the company's commitment to developing innovative therapies for complex diseases. Get Geron alerts: Sign Up Geron’s Scientific and Financial Foundations Geron Corporation distinguishes itself within the biopharmaceutical industry through its specialized focus on developing and commercializing innovative therapies for myeloid hematologic malignancies. The company's recent success is linked to imetelstat, a novel telomerase inhibitor, and its lead product candidate. Telomerase inhibitors represent a groundbreaking approach to cancer treatment, aiming to disrupt the uncontrolled proliferation that defines malignant cells. Telomeres, protective caps located at the ends of chromosomes, naturally shorten with each cell division. However, the enzyme telomerase operates in overdrive in many cancer cells, continuously rebuilding these telomeres and enabling unrestricted cell division. Imetelstat acts by directly inhibiting telomerase activity, effectively halting this constant replenishment of telomeres. This targeted mechanism of action is designed to trigger apoptosis (programmed cell death) selectively in malignant cells while sparing healthy cells. The FDA Approval of RYTELO and its Market Impact The FDA's approval of RYTELO™ (imetelstat) signifies a pivotal moment in treating lower-risk myelodysplastic syndromes (LR-MDS). This approval specifically addresses the unmet needs of adult patients with LR-MDS who have developed transfusion-dependent anemia, a condition requiring frequent red blood cell transfusions due to their bone marrow's inability to produce a sufficient supply of healthy red blood cells. Geron MarketRank™ Stock Analysis Overall MarketRank™ 3.76 out of 5 Analyst Rating Moderate Buy Upside/Downside 41.6% Upside Short Interest Bearish Dividend Strength N/A Sustainability -2.80 News Sentiment 0.75 Insider Trading Selling Shares Projected Earnings Growth Growing See Full Details This landmark decision stemmed from the compelling results observed in the pivotal IMerge Phase 3 clinical trial, which highlighted RYTELO™'s ability to achieve durable and sustained red blood cell transfusion independence in a significant portion of patients. The trial successfully met its primary and key secondary endpoints, demonstrating a statistically significant difference in transfusion independence rates between the RYTELO™ treatment and placebo groups. This efficacy was further underscored by the impressive median duration of transfusion independence, exceeding one year for those achieving independence at eight weeks and surpassing 1.5 years for those reaching the 24-week benchmark. Equally important is the drug's favorable safety profile, a crucial factor in its approval. While thrombocytopenia and neutropenia were identified as the most common side effects, they were generally manageable with standard medical interventions and typically transient in nature. The FDA's recognition of RYTELO™'s efficacy and manageable safety profile underscores its potential to become a cornerstone therapy for LR-MDS patients, offering a much-needed alternative to frequent transfusions and their associated burdens. Analyzing Geron Corporation's Post-Approval Position A thorough examination of Geron Corporation's financial health is essential for investors to gauge its potential for future growth and profitability. Geron’s earnings report for Q1 2024 revealed a net loss of $55.4 million, or $0.09 per share. While a net loss is common for biotechnology companies heavily investing in research and development, Geron's financial position remains strong. Geron Co. (GERN) Price Chart for Sunday, June, 9, 2024 The company boasts strong operating cash and marketable securities balance exceeding $465 million as of March 31, 2024, positioning it to fund its operational needs, ongoing clinical trials, and the crucial commercial launch of RYTELO™. This strong cash position stems partly from a successful underwritten public offering of common stock and pre-funded warrants in March 2024, which generated approximately $141 million in net proceeds. Geron's stock has demonstrated a remarkable upward trajectory, recently reaching a new 52-week high following the FDA approval of RYTELO™. Geron’s surge in stock price reflects the market's optimistic outlook for the company and the perceived value of this newly approved therapy. Geron’s analyst community further supports this positive outlook, with the majority issuing buy or outperform ratings for Geron stock and projecting significant upside potential for investors. The sharp increase in Geron's trading volume, significantly exceeding its average volume, signifies heightened investor interest and bolsters the market's positive response to the FDA approval. Geron’s institutional investor activity reveals a strong appetite for Geron stock, with several leading funds substantially increasing their positions, signaling confidence in the company's long-term growth potential. Strategic Outlook for Geron and Growth Drivers While the FDA approval of RYTELO™ for LR-MDS marks a significant triumph, Geron Corporation is strategically positioning itself for continued growth and expansion. The company is actively engaged in a pivotal Phase 3 clinical trial, IMpactMF, which aims to investigate imetelstat's efficacy and safety in treating myelofibrosis, a more aggressive and challenging form of blood cancer. The successful completion of this trial could pave the way for expanding RYTELO™'s label to include this new indication, significantly increasing its market potential and solidifying Geron's position as a leader in telomerase inhibition therapies. The effective commercialization of RYTELO™ for LR-MDS is paramount for Geron's success. The company has been diligently constructing its commercial infrastructure, including building a dedicated sales force, refining its marketing strategy, and proactively engaging with key stakeholders across the healthcare system to ensure a successful product launch and widespread adoption. The FDA approval of RYTELO™ (imetelstat) has undoubtedly ushered in a transformative chapter for Geron Corporation. Armed with a game-changing therapy, a solid financial foundation, and a strategic roadmap for future growth, Geron is well-positioned to capitalize on the significant market opportunity within the hematologic malignancy treatment arena. Before you consider Geron, 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 Geron wasn't on the list. While Geron currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Intel's Secret Plan for a Double-Digit Stock Rally Revealed 2024-06-07 16:40:00+00:00 - Over the past 2 years, markets have lent the lion’s share of their attention to technology stocks, particularly those exposed to the rising trends in artificial intelligence and semiconductor manufacturing. However, over the past few quarters, markets have given stocks like Nvidia Co. NASDAQ: NVDA an unfair amount of attention over peers like Advanced Micro Devices Inc. NASDAQ: AMD and others. Intel Today INTC Intel $30.74 +0.32 (+1.05%) 52-Week Range $29.73 ▼ $51.28 Dividend Yield 1.63% P/E Ratio 32.02 Price Target $39.58 Add to Watchlist Today, it is a quiet one looking to give investors a chance to multiply their wealth over the next few years, rewarding those who are patient—and savvy—enough to hold through management’s secret plan. That stock is Intel Co. NASDAQ: INTC. It is a heck of a bargain today after its shares fell to only 60% of their 52-week high prices recently, all the while Nvidia keeps making new all-time highs on less-than-stellar earnings results. Get Advanced Micro Devices alerts: Sign Up Recent price action should be fine for fundamental value investors, realizing that they now have a chance to potentially buy – or add – Intel stock at prices that may never be seen again for this company, especially when they find out what could drive the stock’s valuation higher in the coming years. Here’s a snippet of why Intel may find itself in the eye of the storm. Intel's Role in Strengthening U.S. Semiconductor Manufacturing Supply Chains For starters, it is as vital as ever. The U.S. is fighting an endless battle to keep its rivals—mainly China—from getting their hands on the latest semiconductor manufacturing equipment technology so that these other nations may not become as technologically advanced as the U.S. technology sector. This isn’t bad; it is comparable to a company investing in cybersecurity or better manufacturing plants to retain a competitive advantage or position in its respective industry. However, politics tend to amplify any sentiment positively or negatively. Investors just need to know that this is an opportunity in the making. This opportunity has a name: the CHIPS and Science Act. This bill is set to give billions to semiconductor companies that show deep market share penetration and are believed to keep delivering the latest semiconductor technology for the nation and its customers. Intel holds 64% of the x86 CPU market, a relatively big chunk of the personal computer (PC) space. Chances are, laptop users will find an ‘Intel Core’ sticker somewhere on their laptops, proving this point in the real world and not only in a paragraph on a computer screen. Because of Intel’s market positioning, the government has granted the company up to $8.5 billion in capital—through the CHIPS and Science Act—to start its onshoring attempts. Intel’s CEO, Pat Gelsinger, has repeatedly told shareholders that a good chunk of the company’s free cash flow would be invested in the well-underway efforts to open factories in Arizona and Ohio. This is where the opportunity comes in. Intel's Property Assets: A Key Factor in Elevating Stock Valuation Apart from now having the faith of the U.S. government behind it, Intel has another avenue through which it can reward shareholders. This $8.5 billion grant will be placed into industrial properties across the U.S. for onshore semiconductor manufacturing, but that’s not where the story ends. Intel Dividend Payments Dividend Yield 1.63% Annual Dividend $0.50 Annualized 3-Year Dividend Growth -17.54% Dividend Payout Ratio 52.08% Recent Dividend Payment Jun. 1 See Full Details These properties and the machinery and equipment inside them will end up inside Intel’s balance sheet as an asset. This is where the net asset value (NAV) comes in, and investors will see a chance to compound their wealth. First, here’s an attempt to value these properties in the future. Taking another large owner of industrial property, Prologis Inc. NYSE: PLD, the real estate investment trust (REIT) is valued at a 3.5% dividend today, called a ‘Cap Rate’ in the real estate sector. Taking Intel’s operating income of $714 million as a proxy for a dividend generated by these properties and slapping a 3.5% cap rate since they are also in the industrial space, these new factories could be worth up to $20.4 billion. Keeping things simple, this $20.4 billion would be added to the company’s book value or NAV. Here’s how that would benefit shareholders. Dividing $20.4 billion by the 4.3 billion shares outstanding today, the government’s $8.5 billion grant could translate into a stock price boost of $4.7 a share, and that’s without accounting for the earnings per share (EPS) benefits that new U.S. operations could bring. Knowing how much upside these properties – and operations – could bring for Intel stock, Wall Street analysts feel comfortable projecting up to 866.7% EPS growth for the next 12 months. Intel Co. (INTC) Price Chart for Sunday, June, 9, 2024 Before you consider Advanced Micro Devices, 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 Advanced Micro Devices wasn't on the list. While Advanced Micro Devices currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

AMC Stock's Rally: The Hidden Truth and Why It’s Temporary 2024-06-07 15:58:00+00:00 - The so-called ‘meme stocks’ recently returned in the past few months. As some investors thought this round would repeat what happened in 2021, that would be a sorely mistaken assumption. Today’s market is anything but similar to its 2021 cousin, starting with interest rates over 4x what they used to be. Interest rates act like a gravity lever that can either pull stocks down or propel them higher, depending on where the Federal Reserve (the Fed) decides to place them because of COVID-19 lockdowns and a halt in the U.S. economy forced the Fed to drop interest rates to near zero, giving markets a ‘risk on’ attitude and leading it to back just about any stock. AMC Entertainment Today AMC AMC Entertainment $4.91 -0.88 (-15.20%) 52-Week Range $2.38 ▼ $62.30 Price Target $5.54 Add to Watchlist Today, it isn’t only GameStop Corp. NYSE: GME that saw a recent rally (that, too, was unjustified). Shares of AMC Entertainment Holdings Inc. NYSE: AMC have also made a recent ‘revival rally’ that proved to be a mere shadow of its 2021 counterpart, but here’s why that won’t last for those looking to bet the ranch on a single roulette spin with hopes of retiring overnight. Get Walt Disney alerts: Sign Up Why AMC Stock Struggles to Maintain High Prices in Today’s Economy Due to these low interest rates and highly manipulative environments, meme stocks will have difficulty keeping their short-lived rallies, which lasted several months during 2021. GameStop took things further in its latest attempt to get market attention. In the company’s latest quarterly earnings report, investors will notice a net profit in GameStop’s income statement. However, an interest income item outside the company’s core operations may have artificially inflated this. Its core operations, proxied by operating cash flow, showed a net outflow of $109.8 million. AMC Entertainment Holdings, Inc. (AMC) Price Chart for Sunday, June, 9, 2024 Because the company didn’t actually make any money, it had to dilute shareholders by $201.9 million to fund GameStop’s ongoing operations. AMC shareholders stand to experience a similar fate: Dilution. AMC’s financials will show that operating cash flows were of a net $188.3 million outflow, leaving the company no choice but to issue roughly 70 million shares into the market, diluting shareholders by approximately 47.8%. Why on Earth would this mean good news for the stock price? It doesn’t. The stock rallied only because GameStop was able to revive Keith Gill’s (A.K.A. Roaring Kitty) tweet about his large position in GameStop stock. Because AMC is also considered a meme stock, investors thought this would be a repeat of the past, not even close. Part of the consumer discretionary sector, AMC stock is battling with what economists call stagflation, which is defined as low economic growth with high inflation. The economy begins to fit the profile because U.S. GDP growth rates were revised lower to 1.3% over the past quarter, while inflation remained above 3%. Why would consumers prioritize going to the movies during one of the worst economic environments in U.S. history when they can get cheaper snacks and a more expansive repertoire of content through The Walt Disney Co. NYSE: DIS Disney+ or even through Netflix Inc. NASDAQ: NFLX. These are just some of the fundamental reasons behind AMC’s headwinds during its recent rally. It’s time for investors to add the technical side to this failed attempt. The Technical Barriers Keeping AMC Stock from Rallying Technical doesn’t always mean chart patterns and indicators; this time, for AMC, it goes even deeper than that. I might as well start with the chart, particularly regarding what AMC stock did in 2021. Going from $22 a share in the early days of 2021 to finishing at over $726 in June, investors who caught this speculative bubble walked away with ungodly amounts of money and a wrong perception of stock market realities to pair. Fast-forward to today. AMC stock rallied from $3 a share in May to $13.3 a share within a couple of weeks. Far from lasting six months like in 2021, this rally only lasted about three days, showing that management only took the opportunity to issue expensive shares and buy themselves another year of compensation for their ‘efforts.’ AMC Entertainment MarketRank™ Stock Analysis Overall MarketRank™ 1.94 out of 5 Analyst Rating Strong Sell Upside/Downside 12.8% Upside Short Interest Bearish Dividend Strength N/A Sustainability -2.27 News Sentiment 0.79 Insider Trading N/A Projected Earnings Growth Growing See Full Details Analysts at Citigroup see AMC stock valued at only $3.2 a share, calling for a net downside of 41.2% from where the stock has rallied to today. More than that, earnings per share (EPS) projections for the next 12 months expect another year of negative earnings, making it more likely for the stock to remain at lower prices. For all of 2024, AMC stock’s short interest has been rising for each consecutive month, showing investors that there is no end to the bearish appetite to keep this stock where it should theoretically be. As if that wasn’t enough, AMC stock reports a net institutional outflow of $359.2 million over the past year; not even pensions want to see this stock in their holdings. Before you consider Walt Disney, 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 Walt Disney wasn't on the list. While Walt Disney currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here