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Producer Inflation Preview: The Hidden Factor That Could Tame CPI Enthusiasm - iShares Bloomberg Roll Select Commodity Strategy ETF (ARCA:CMDY) 2023-08-10 - In the grand stage of economic ups and downs, there’s a saying that echoes like a mantra: “The last mile is the toughest.” This adage, it seems, finds a perfect resonance when it comes to understanding the inflation dynamics in the U.S. After the twist in July’s consumer price index (CPI) report, in which the annual inflation rate ticked up to 3.2%, albeit slightly below the anticipated 3.3%, the spotlight now shifts to the impending release of the producer price index (PPI) inflation gauge on Friday. As the Federal Reserve steadily aims for a return to the 2% consumer inflation target, the prices faced by producers must not sprint ahead once again, lest a domino effect hits the end consumer products. Yet, a chilling revelation might be on the horizon. July’s PPI Report: What Do Economists Foresee? The median economists’ consensus projects a noticeable bump in the annual PPI for final demand, moving from a marginal 0.1% uptick in June to a more substantial 0.7% climb in July. That would snap a series of 12 consecutive declines in the annual PPI inflation rate. On a monthly basis, the PPI index is expected to have accelerated by 0.2% in July, leaving behind the 0.1% from June. The core PPI index is anticipated to show a year-on-year increase of 2.3% for July, just a tad lower than June’s 2.4%. On a monthly scale, the core PPI is also slated to advance at a 0.2% pace, edging up from the 0.1% witnessed in June. Read Also: Disinflation Talk Grows, Rate Hike Bets Plummet: Top 5 ETFs Rallying On CPI Miss Chart: June’s PPI Inflation Plummeted To The Lowest Level Since August 2020 Commodities Rose In July, Traders Believe Fed Is Done With Hiking July emerged as a positive month for global commodities, which posted an increase not seen since March 2022. The Bloomberg Commodity Index, which is closely tracked by the iShares Bloomberg Roll Select Commodity Strategy ETF CMDY surged almost 6% last month, after rising 3.5% in June. Rising commodity prices may affect the overall producer price index as the weight for final demand goods in the PPI basket hovers at about 30%. However, investors are increasingly convinced the Fed is about to end its rate-tightening campaign. The odds of leaving rates on hold in September according to Fed futures market pricing rose to over 90% on Thursday. The same odds relative to the November meeting amounted to 70%. Now Read: Deflation Rocks Used Car Market, Price Bubble Bursts: 5 Stocks Face Margin Squeeze Risks Photo: Shutterstock

News Corp Beats Q4 Earnings Expectations, Misses On Sales, Stock Slides After Hours - News (NASDAQ:NWS) 2023-08-10 - News Corporation NWS shares are trading lower after-hours Thursday as the company reported fourth-quarter earnings. Here's what happened. What To Know: The company reported quarterly earnings of 14 cents per share which beat the analyst consensus estimate of nine cents, a 62.16% decrease over earnings of 37 cents per share from the same period last year. The company reported quarterly sales of $2.43 billion, which missed the analyst consensus estimate of $2.48 billion, a 9.01% decrease over sales of $2.67 billion in the same period last year. Digital revenues accounted for over 50% of total revenues for the full year. The figure is cited as a significant inflection point in the company's progression. Free cash flow in the fiscal year ended June 30, 2023, was $593 million compared to $855 million in the prior year. Free cash flow available to News Corporation in the fiscal year ended June 30, 2023, was $450 million compared to $663 million in the prior year. Lower cash generated by operating activities was named as the cause. "News Corp's Fiscal 2023 results highlighted the durability and depth of our revenue streams and the impact of stringent cost controls as we navigated challenging macro conditions, supply chain pressures and currency headwinds. We achieved full year Fiscal 2023 revenues of $9.9 billion and profits of over $1.4 billion - the second highest profitability ever recorded by the company," said CEO Robert Thomson. "Our results showed marked improvement in the second half, so with inflation abating, interest rates plateauing and incipient signs of stability in the housing market, we have sound reasons for optimism about the coming quarters." Related Link: The Apes Just Resurrected WeWork Stock: 'It Will Go To The Moon' NWS Price Action: Shares of NWS were down 1.59% at $20.38 in the after-hours session at the time of publication, according to Benzinga Pro. Image by Karolina Grabowska from Pixabay

Masonite's Margins To Remain Strong Despite Demand Issues, Analyst Highlights Acquisition Synergies, Robust FCF - Masonite International (NYSE:DOOR) 2023-08-10 - Stephens analyst Trey Grooms reiterated an Overweight rating on Masonite International Corporation DOOR, raising the price target to $130 from $110. The company recently reported Q2 results, where net sales declined 3% year over year due to continued softness in end-market demand. The analyst notes that EBITDA was ahead of expectations, but FY23 guidance was reiterated as overall end-market demand is progressing as expected with better new residential and softer R&R. The analyst adds that DOOR's continued progress on internal initiatives is starting to bear fruit, driving margin expansion from cost reduction efforts and generating robust FCF from lowering working capital levels. While prices could see modest declines in 2H, margins should still expand year-over-year from the further realization of Endura acquisition synergies and cost-outs, Grooms adds. However, the analyst cautions of the company's challenging demand environment looming large. For Q3, the analyst lowered sales estimates to $702.6 million (from $712.8 million), adj. EBITDA to $112.1 million (from $113.4 million) and EPS estimate to $2.08 (from $2.16). For FY23, Grooms lowered sales estimate to $2.84 billion (from $2.86 billion), adj. EBITDA to $430.5 million (from $429.5 million) and EPS estimate to $7.70 (from $7.73). For FY24, the analyst lowered sales estimates to $2.97 billion (from $2.99 billion)—however, FY24 adj. EBITDA is raised to $464.2 million (from $453.4 million), and the EPS estimate is raised to $8.68 (from $8.47). Price Action: DOOR shares closed lower by 0.69% to $104.74 on Thursday.

What's Going On With Wish Stock Today? - ContextLogic (NASDAQ:WISH) 2023-08-10 - ContextLogic Inc. WISH shares fell on Thursday. The stock is down nearly 60% year-to-date. What To Know: On Aug. 3, ContextLogic posted second-quarter earnings. The company reported quarterly losses of $3.38 per share, which beat the analyst consensus estimate of $3.74, a 13.33% increase over losses of $3.90 per share from the same period last year. The company reported quarterly sales of $78.00 million, which missed the analyst consensus estimate of $94.25 million, a 41.79% decrease over sales of $134.00 million in the same period last year. Also of note, during the past month, the company's board approved a plan to reduce its workforce by 34%. The news caused the stock to trade lower. The stock did benefit from Amazon's announcement of strong Prime Day sales in mid-July, however, at the end of June, Loop Capital downgraded the stock from Hold to Sell and announced a $7 price target, causing it to sink. Related Link: Autoworkers Union Talks Drive Ford And General Motors Stock Lower WISH Price Action: Shares of WISH were down 1.70% at $5.78 at the time of publication, according to Benzinga Pro. Image by Tumisu from Pixabay

Danaher Unusual Options Activity - Danaher (NYSE:DHR) 2023-08-10 - Someone with a lot of money to spend has taken a bearish stance on Danaher DHR. And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga. Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with DHR, it often means somebody knows something is about to happen. Today, Benzinga's options scanner spotted 11 options trades for Danaher. This isn't normal. The overall sentiment of these big-money traders is split between 27% bullish and 72%, bearish. Out of all of the options we uncovered, there was 1 put, for a total amount of $25,175, and 10, calls, for a total amount of $484,330.. What's The Price Target? Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $200.0 to $267.5 for Danaher over the last 3 months. Volume & Open Interest Development In terms of liquidity and interest, the mean open interest for Danaher options trades today is 319.5 with a total volume of 788.00. In the following chart, we are able to follow the development of volume and open interest of call and put options for Danaher's big money trades within a strike price range of $200.0 to $267.5 over the last 30 days. Danaher Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume DHR CALL TRADE BEARISH 01/19/24 $200.00 $136.0K 83 20 DHR CALL SWEEP BEARISH 08/18/23 $250.00 $61.8K 730 149 DHR CALL TRADE BEARISH 08/18/23 $250.00 $55.9K 730 43 DHR CALL TRADE BULLISH 08/18/23 $250.00 $49.8K 730 192 DHR CALL SWEEP BEARISH 08/18/23 $250.00 $40.0K 730 75 Where Is Danaher Standing Right Now? With a volume of 1,698,965, the price of DHR is up 0.52% at $257.38. RSI indicators hint that the underlying stock may be approaching overbought. Next earnings are expected to be released in 70 days. What The Experts Say On Danaher: Stifel has decided to maintain their Hold rating on Danaher, which currently sits at a price target of $240. RBC Capital has decided to maintain their Outperform rating on Danaher, which currently sits at a price target of $292. Raymond James downgraded its action to Outperform with a price target of $270 Barclays has decided to maintain their Overweight rating on Danaher, which currently sits at a price target of $290. Raymond James has decided to maintain their Outperform rating on Danaher, which currently sits at a price target of $290. Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely. If you want to stay updated on the latest options trades for Danaher, Benzinga Pro gives you real-time options trades alerts.

Amazon.com Unusual Options Activity For August 10 - Amazon.com (NASDAQ:AMZN) 2023-08-10 - A whale with a lot of money to spend has taken a noticeably bearish stance on Amazon.com. Looking at options history for Amazon.com AMZN we detected 133 strange trades. If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 56% with bearish. From the overall spotted trades, 45 are puts, for a total amount of $2,907,796 and 88, calls, for a total amount of $7,197,968. What's The Price Target? Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $200.0 for Amazon.com over the last 3 months. Volume & Open Interest Development In terms of liquidity and interest, the mean open interest for Amazon.com options trades today is 7531.35 with a total volume of 784,047.00. In the following chart, we are able to follow the development of volume and open interest of call and put options for Amazon.com's big money trades within a strike price range of $50.0 to $200.0 over the last 30 days. Amazon.com Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume AMZN PUT SWEEP BULLISH 08/11/23 $138.00 $342.4K 9.5K 19.0K AMZN CALL TRADE NEUTRAL 01/17/25 $60.00 $300.0K 1.6K 86 AMZN CALL TRADE BULLISH 01/17/25 $105.00 $235.5K 1.9K 90 AMZN CALL TRADE BULLISH 06/21/24 $100.00 $232.2K 16.5K 52 AMZN CALL SWEEP BULLISH 06/21/24 $122.50 $194.3K 1.6K 70 Where Is Amazon.com Standing Right Now? With a volume of 54,373,427, the price of AMZN is up 0.52% at $138.56. RSI indicators hint that the underlying stock may be approaching overbought. Next earnings are expected to be released in 77 days. What The Experts Say On Amazon.com: Rosenblatt upgraded its action to Buy with a price target of $184 Citigroup has decided to maintain their Buy rating on Amazon.com, which currently sits at a price target of $167. Needham has decided to maintain their Buy rating on Amazon.com, which currently sits at a price target of $160. Evercore ISI Group has decided to maintain their Outperform rating on Amazon.com, which currently sits at a price target of $190. Credit Suisse has decided to maintain their Outperform rating on Amazon.com, which currently sits at a price target of $176. Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely. If you want to stay updated on the latest options trades for Amazon.com, Benzinga Pro gives you real-time options trades alerts.

Trump's Truth Social tipped FBI to man killed during arrest attempt for Biden threats 2023-08-10 - This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. The social media company owned by former President Donald Trump in March tipped off the FBI about threats made by a Utah man who was fatally shot Wednesday by FBI agents as they attempted to arrest him for threatening to kill President Joe Biden, NBC News reported. Truth Social notified the FBI after Craig Deleeuw Robertson made threats to kill Manhattan District Attorney Alvin Bragg Jr., according to a senior law enforcement official who spoke to NBC. Bragg is prosecuting Trump for allegedly falsifying business records related to a 2016 hush money payment to porn star Stormy Daniels. Robertson was armed when FBI agents confronted him at his home in Provo on Wednesday morning, and had pointed his weapon at agents and did not respond to their commands before agents fatally shot him, a senior official told NBC. Agents were there to arrest him on a federal criminal complaint accusing him of making death threats against Biden, Bragg, and FBI agents. Robertson was killed hours before Biden arrived in Utah for a visit. He was described by the FBI in a court filing as a white man "approximately 70-75 years old" who was surveilled "wearing a dark suit (later observed as having an AR-15 style rifle lapel pin attached), a white shirt, a red tie, and a multi-colored (possibly camouflage) hat bearing the word "TRUMP" on the front." Trump Media & Technology Group started Truth Social in late 2021, months after Trump was banned from Twitter on Jan. 8, 2021. Twitter, now known as X, feared he might incite further violence on the heels of the Capitol riot by a mob of his two days earlier.

Tech investors face 'new era' of China restrictions after Biden order limits funding in A.I., chips 2023-08-10 - US President Joe Biden speaks on how "Bidenomics" is helping clean energy and manufacturing, at Arcosa Wind Towers in Belen, New Mexico, on August 9, 2023. The Biden administration's executive order restricting U.S. private equity and venture capital investments in Chinese technology finally landed on Wednesday. For U.S. tech investors who'd already grown wary of the budding cross-Pacific rivalry, the ruling is the clearest signal yet that the world's second-biggest economy is off limits. Biden is specifically targeting investments in technologies like semiconductors, quantum computing and artificial intelligence on concern that China's advancements in those areas run counter to U.S. national security interests. The new measure is expected to go into effect next year. U.S. investors have been steadily retreating from China due to a combination of a weakening economy and the fraught geopolitical environment. Combined U.S. private equity and venture investments in China fell to an eight-year low in 2022 in terms of capital deployed, a trend that continued into the first half of this year, according to PitchBook data. "We've had conversations with with our own clients who have said, 'Yeah, look, we've really been pulling back on on our presence in China for a little while,'" said Elena McGovern, co-head of the national security practice at private equity advisory firm Capstone, in an interview. "This is the first time that the U.S. government is imposing restrictions on how U.S. capital flows out of the country, how U.S. investors are making investment decisions. So that is a new era." Political pressure has been bipartisan. Last month, the House Select Committee on the Chinese Communist Party sent letters to four U.S. venture firms, expressing "serious concern" about their investments in Chinese tech startups. And in July, legendary VC firm Sequoia Capital said it would split its international business into three parts, with Neil Shen helming its powerful Sequoia China unit. At this point, any technology that can be used to enhanced China's military strength or surveillance capabilities is of notable concern to the White House. "U.S. money should not be used to finance Beijing's military development," said Eric Reiner, managing partner at Vine Ventures, which backs early-stage companies in the U.S., Israel and Latin America. "A lot of these firms that have been investing in China and setting up offices there are really playing with fire." While AI, computer processors, and quantum computing are areas of stated concern, many investors and experts say they have to move forward with the expectation that the ban will widen, essentially making any deal in Chinese technology too risky to pursue. "It's likely to deter investments in those sectors, even beyond what is explicitly prohibited," said, Adam Hickey, a former deputy assistant attorney general for the Justice Department's national security division who's now a partner at law firm Mayer Brown. "Most investors want to avoid being seen as acting against U.S. national security interests." Steve Sarracino, the founder of Activant Capital, said "I don't know anyone that's doing early-stage China investing from from the U.S." The only exception, he said, were "hedge funds, who really are in the business of calculating geopolitical risks." Activant has offices in the U.S., Germany and South Africa. The U.S. government's ongoing hostility towards China carries its own risks. For one, there's a ton of investment money in and around China that can fill the vacuum and potentially generate huge returns. There's also the challenge of dealing with existing investments. For example, major U.S. venture firms have invested in ByteDance, the parent of mobile video app TikTok, which has faced the threat of a potential ban in the U.S. or a forced sale to keep operating. Investors want to maximize their returns, which could be huge should ByteDance go public.

Shares of red-hot Apple and Nvidia have hit rough patches. Here's what we think is happening 2023-08-10 - Apple (AAPL) and Nvidia (NVDA) — the Club's two "own it, don't trade it" stocks — have seen their fortunes sour somewhat in recent weeks, sliding to become among our five worst-performing holdings in August. Plenty of investors may be bailing on these two stellar performers. We are not. "I think Apple and Nvidia are the two you have to watch," Jim said Thursday morning. "They have to stop [declining]." .SPX AAPL,NVDA 1M mountain The S & P 500's performance over the past month compared with Apple and Nvidia. Despite initially trading modestly higher Thursday morning, Apple and Nvidia shares steadily lost ground into the afternoon in lockstep with the market. They popped a bit with the S & P 500 's brief move positive just before 2 p.m. ET, before leveling off around the flat line. For the month of August, Apple and Nvidia have both lost about 9%, giving back some of their spectacular year-to-date gains. Both hit record highs in mid-July. The recent moves in Apple and Nvidia have coincided with a roughly 2% drop in the S & P 500 so far in August, after finishing the July 31 session at 4,588.96 — its peak for the year. At the index level, it's not necessarily a shock to see some weakness. Overbought conditions in the market for much of late July suggested investors stay vigilant and prepare for a pullback. There are no guarantees that Apple and Nvidia — two of the largest stocks in the S & P 500 and large contributors to the index's 17% gain this year — will shake their recent malaise anytime soon. When it does happen, though, we'll be around to see it. "Apple's gotten stuck," Jim said, falling in six of the seven August trading days, as of Wednesday's close. Apple's June quarter, released a week ago, hasn't helped matters, with the once-$3 trillion company now valued below that level . AAPL YTD mountain Apple YTD performance In our minds, the iPhone maker's results were impressive – led by a record $21.2 billion in high-margin Services revenue. Combined with the largest base of installed devices in company history, those are more than enough reasons for us to look past weaker-than-expected Products sales. Other investors have viewed the quarter differently. So be it, as Jim wrote earlier this week . That's the sellers' mistake. The "own it, don't trade it" mantra is built for moments like this, giving us an intellectual foundation to keep our eyes on focused on Apple's bright multiyear prospects and not minor quarter-to-quarter fluctuations. Apple shares are still up a robust 37% for the year. The annual September new product launch also is right around the corner. All is not lost. NVDA YTD mountain Nvidia YTD performance Nvidia's stock chart may get worse before it gets better. "I do not think you should start to buy Nvidia right here, right now," Jim said Thursday. "I think it's going to go lower." The stock's nearly 5% decline Wednesday may be tied to a supply warning from server maker Super Micro Computer , which Morgan Stanley analysts called a "key" original equipment manufacturer customer for Nvidia. Step back a little bit, though, and here's a stock that more-than tripled in value in 2023 by the time August rolled around, thanks to investor optimism around its artificial intelligence chips. It's reasonable to conclude a breather is in order, which last week on "Mad Money" is exactly what market historian and veteran chartist Larry Williams told Jim could happen. "Be careful," Williams said. "I like Nvidia longer term, but short term I agree with [Williams]," Jim said Thursday. "Short term, Nvidia was up 200%, the most in the S & P, and that's just a rather high bar." To be sure, Nvidia's stock entering a period of digestion is not the same thing as its fundamental business is souring. Quite the opposite. The king of AI chips this week made a series of announcements aimed at strengthening its already-dominant position in the market . What's more, the Financial Times reported that Chinese internet giants, including Alibaba and TikTok parent ByteDance, ordered $5 billion worth of AI chips from Nvidia, in a scramble to beat any new U.S. export restrictions on the key pieces of technology. Bottom line Put it together, and there's no change to our stance on Nvidia. The ascent higher just may be on hold, for now. Investors whose focus is different than ours at the Club are bailing on Apple and Nvidia, turning what had once been two sterling stock charts into sour situations. We're not going to try and trade around it. (Jim Cramer's Charitable Trust is long NVDA and AAPL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Apple CEO Tim Cook speaks before the start of the Apple Worldwide Developers Conference at its headquarters on June 05, 2023 in Cupertino, California. Apple CEO Tim Cook kicked off the annual WWDC23 developer conference. Justin Sullivan | Getty Images

Hawaii wildfires: Biden vows immediate aid, deploys military to assist victims 2023-08-10 - An aerial view of a wildfire in Kihei, Maui County, Hawaii, U.S., August 8, 2023 in this screen grab obtained from a social media video. President Joe Biden on Thursday vowed immediate assistance for Maui residents who have lost loved ones and their homes in devastating wildfires that have taken at least 36 lives. Biden declared a major disaster in Hawaii two days after wildfires rapidly swept across parts of Maui, devastating the historic city of Lahaina, the former capital when the islands were an independent kingdom. "We have just approved a major disaster declaration for Hawaii which will get aid into the hands of the people desperately, desperately needing help now," the president said during remarks in Utah. "Anyone who's lost a loved one, whose home has been damaged or destroyed, is going to get help immediately," Biden said. The president said he spoke with Hawaii Gov. Josh Green Thursday morning and vowed to provide any federal assistance the state needs to recover from the fires. Biden said he directed FEMA Administrator Deanne Criswell to streamline requests to get federal aid to survivors without delay. Criswell will travel to Maui on Friday, the president said. The disaster declaration that Biden issued Thursday will provide money to help with temporary housing, home repairs and uninsured property losses.

Supreme Court blocks Purdue Pharma's $6 billion opioid settlement, will hear challenge 2023-08-10 - The Supreme Court on Thursday blocked, for now, a $6 billion bankruptcy settlement by Purdue Pharma that would protect its Sackler family owners from civil lawsuits related to the opioid crisis. The Supreme Court also said it will hear a U.S. Bankruptcy trustee's challenge to the settlement by Purdue, the maker of the opioid OxyContin. The order Thursday directed parties to file briefs on a question of whether bankruptcy courts can approve a Chapter 11 reorganization that releases claims by non-debtors against non-debtor third parties "without the claimants' consent." "We are confident in the legality of our nearly universally supported Plan of Reorganization, and optimistic that the Supreme Court will agree," the company said in a statement. "Even so, we are disappointed that the U.S. Trustee, despite having no concrete interest in the outcome of this process, has been able to single-handedly delay billions of dollars in value that should be put to use for victim compensation, opioid crisis abatement for communities across the country, and overdose rescue medicines." There were no dissents by any of the court's justices in the order granting the requested hold, which was sought by the Department of Justice. The DOJ had argued in a court filing that the release of the Sacklers from civil liability "is not authorized by the Bankruptcy Code, constitutes an abuse of the bankruptcy system, and raises serious constitutional questions." The case will be argued in December at the high court.

Disney wants sports leagues as ESPN partners, but it's not clear sports leagues want ESPN 2023-08-10 - Nikola Jokic of the NBA's Denver Nuggets prepares to be interviewed by ESPN's Lisa Salters after the fourth quarter of the Nuggets' 113-111 Western Conference finals game 4 win over the Los Angeles Lakers at Crypto.com Arena in Los Angeles, May 22, 2023. It's clear to the four major U.S. professional sports leagues that Disney 's ESPN is potentially interested in them taking an equity stake in the network. What isn't yet clear is why the leagues would do it. The National Basketball Association and Major League Baseball have both questioned a partnership with ESPN if Disney's goal is to mitigate or replace payments to leagues for sports broadcast rights with equity in ESPN, according to people familiar with the talks. Disney executives and league officials agree that strategic partnership discussions are in the pure "idea" phase and may not amount to anything, said the people, who asked not to be named because the talks are private. Talks have had few specifics, said the people, but may heat up as ESPN attempts to reach a rights renewal deal with the NBA. Disney's exclusive negotiating window with the NBA ends April 2024. Disney is considering ways to save cash as it tries to shore up its balance sheet. The media giant's streaming division continues to lose money — with $512 million lost in its most recent quarter — and the company would like to pay down its $44.5 billion in debt. Disney also likely owes at least $9.2 billion to Comcast for its minority stake in Hulu. Agreeing to a deal where ESPN trades equity for sports rights could potentially save Disney billions of dollars that it can then use for other strategic ventures. ESPN struck a deal earlier this week with Penn Entertainment, which will provide it with $1.5 billion in cash over the next 10 years. But the leagues also need cash, especially as the regional sports network business is under threat. Teams pay players in large part from the sports rights fees. ESPN's bids serve an essential role in how the leagues earn money. The organizations can generate competitive bids for packages of games because ESPN is almost always a potential buyer. Disney CEO Bob Iger said during Disney's earnings conference call Wednesday that the company is "not necessarily looking for cash infusion" if partners could provide other assets — such as content — as the company transitions ESPN to a direct-to-consumer business. Sources say Disney is targeting 2025 as a potential launch date for an unbundled-from-cable ESPN streaming service. While ESPN+ exists today, it doesn't include ESPN's most valuable live sports such as Monday Night Football and most NBA playoff games. Disney has informed the leagues that it's also holding separate talks with strategic investors who can provide distribution benefits, according to people familiar with the matter. "We're looking for partners that are going to help ESPN successfully transition to a [direct-to-consumer] model," Iger said Wednesday. "And that, as I've said, can come in the form of either content or distribution and marketing support or both." An MLB spokesperson declined to comment. An NBA spokesperson said, "we have a longstanding relationship with Disney and look forward to continuing the discussions around the future of our partnership."

TV giants clash over NBA, NHL, MLB games as local rights go up for grabs 2023-08-10 - In this article SBGI NXST GTN SSP Follow your favorite stocks CREATE FREE ACCOUNT Christian Petersen | Getty Images Sport | Getty Images Tensions are building among broadcast station owners and pay TV providers as the local rights to air NBA, NHL and MLB games go up for grabs. Broadcast station owners including E.W. Scripps Co., Gray Television, Nexstar Media Group and Sinclair have been in discussions with leagues and teams about potential deals to carry games on free over-the-air channels, according to people familiar with the matter, as long-held media rights for teams on regional sports networks unravel. Regional sports networks have owned almost all local sports rights for decades, but their viability is in doubt after tens of millions of Americans have been canceling cable TV in recent years. A shift to a model revolving around broadcast stations and direct-to-consumer streaming would upend the business that saw teams and leagues reap hefty fees. It would also boost broadcast station owners leverage in carriage negotiations — and potentially accelerate cord-cutting. The discussions come soon after Diamond Sports Group, which owns the largest portfolio of RSNs, filed for bankruptcy protection and stopped paying rights fees for some of the teams on its channels. Warner Bros. Discovery, which owns a slate of networks, said it would exit the business by year-end, putting another handful of teams on the table. The leagues and teams began contingency planning in March when Diamond filed for bankruptcy, the people said. Broadcasters are viewing the opportunity to carry local NBA, NHL and MLB games as an unexpected pathway to boost the fees they receive from pay TV operators like Comcast , Charter or DirecTV for the right to carry their stations. Broadcast companies typically tie all of their stations together when they renegotiate contracts with pay TV carriers. That makes local sports unusually valuable. If companies like Gray or Nexstar can land sports rights in several markets, they can likely use those rights as leverage to boost fees for all of their stations. If pay TV operators push back on price increases, the station groups can threaten to black out the games. Leagues typically want to avoid local blackouts which disappoint sports fans. That dynamic has led distributors, which have also shown interest in short-term deals to carry games, to express concern to the leagues about more games going to local broadcast stations being provided free to viewers with a TV antenna and no paid package, the people said. They fear local sports moving to broadcasting could further accelerate cord-cutting. Top executives at DirecTV, including President Bill Morrow, are expected to meet with NBA and NHL leaders in coming weeks as part of an ongoing dialogue about local games if RSNs are to drop teams, some of the people said. Pay TV providers are also exploring alternatives to keep local games in the bundle. Charter Communications is introducing a cheaper TV bundle in the fall without RSNs to give consumers more choices. While MLB teams are also at risk, the talks have so far focused on the NBA and NHL, some of the people said. An NHL spokesperson said the league "is closely monitoring the RSN situation ... [and] prepared to address whatever circumstances dictate to provide our fans with access to our games." RSN pressure The Ohio Cup Trophy on top of a Bally Sports logo prior to a game between the Cincinnati Reds and Cleveland Guardians at Progressive Field in Cleveland, May 17, 2022. George Kubas | Diamond Images | Getty Images The regional sports network business model has been under pressure as consumers ditch traditional cable bundles and turn to streaming instead. For decades, these RSNs have paid fees to leagues and teams, and cord-cutting has hit the model especially hard. That, plus the debt load that stemmed from Sinclair's acquisition of Diamond Sports in 2019, pushed the network's owner into bankruptcy earlier this year. As part of the bankruptcy, Diamond is not only looking to restructure its debt load but also reset some of its media rights deals with teams to reflect so-called market rates. A bankruptcy judge ruled Diamond had to make those rights payments or teams can walk away from their contracts. "We are in ongoing discussions with our team and league partners about paths forward and are engaged in renewal discussions regarding the two distribution agreements that are up this year," a Diamond spokesperson said in a statement. "Our goal is to continue producing and broadcasting games for all teams in our portfolio." In addition to its contracts with teams, Diamond is also negotiating two carriage deals with DirecTV and Comcast, which will soon expire, according to court documents. Though the networks are still profitable, the industry — from the leagues to pay TV providers — is experimenting with alternatives. Many networks, including Diamond-owned Bally Sports channels, now offer direct-to-consumer streaming options, often priced at $19.99 or more a month. "The bottom line is you want to be seen in as many homes as possible and generating new revenues," said sports consultant Lee Berke. "There's not just one way to do it, but you can't be fully devoted to pay TV alone. There needs to be different streams of revenue." Broadcast is back Some of these sports deals have already been signed. The NBA's Phoenix Suns and Utah Jazz recently reached deals to be be aired on local broadcast networks run by Gray and Sinclair, respectively. A Nexstar-owned broadcast station in Los Angeles will carry a set of Clipper games, while the Las Vegas Golden Knights, this year's NHL Stanley Cup champions, will be aired on a Scripps network this fall. "One thing is clear to us, regardless of whether [Diamond's] Bally Sports had financial problems. The distribution of teams only through RSNs had become a really bad business for the teams," said Brian Lawlor, president of Scripps Sports, a programming division launched in December. "The teams and leagues have a reach problem." Before the Scripps deal, Lawlor said, the Knights reached about 35% of households in the Las Vegas area on its original network, owned by Warner Bros. Discovery. The Vegas Golden Knights celebrate winning the NHL Stanley Cup after defeating the Florida Panthers on June 13, 2023 at T-Mobile Arena in Las Vegas, Nevada. Jeff Speer | Icon Sportswire | Getty Images For these deals to work, broadcast station owners need to have existing stations in the same footprint as the teams as well as an affiliate station in the area that isn't a top four broadcaster — ABC, NBC, CBS and Fox — in case it interferes with national sports games. In some cases that means starting new broadcast stations, and in others affiliate networks like the CW Network or Scripps' Ion could be used. Nexstar's CW has been increasingly interested in adding sports, with recent deals for ACC college football games and NASCAR, and would be interested in obtaining more sports rights, including for local games, according to some of the people familiar with the current deals talks. The Phoenix Suns will be aired between two Gray networks, including the newly launched KPHE, reaching more than 2.8 million households and tripling its audience reach. The Suns' deal came to fruition as Diamond opted not to renew its contract with the team. The Suns' rights had also drawn interest from Scripps, some of the people said. Some argue that while cord-cutting is depleting the traditional RSN business, it is still profitable and the lucrative rights fees prop up the payrolls of leagues and teams. Deals with over-the-air broadcasters are unlikely to replicate those fees, even if they expand the reach. "The reality is that the issue people keep talking about is the rights fees. But the rights fees aren't necessarily the question," said Berke. "The question is what's the range of revenue opportunities available for teams and media outlets?" Wider reach means more visibility for fans, Berke pointed out, paving the way for advertising to make up for some of that revenue. MLB differences David Peralta #6 of the Arizona Diamondbacks is congratulated by Kole Calhoun #56 and Starling Marte #2 after a walk-off RBI single against the Oakland Athletics during the ninth inning of the MLB game at Chase Field on August 17, 2020 in Phoenix, Arizona. The Diamondbacks defeated the A's 4-3. Christian Petersen | Getty Images

Traveling to Hawaii? Here's what to know about the Maui fire. 2023-08-10 - Hawaii tourism official on efforts to evacuate visitors, help residents through devastating fires Hawaii is a noted tourist destination, but with deadly wildfires wreaking havoc on Maui and other islands, the state has declared a state of emergency in all counties. Hawaiian officials are discouraging non-essential travel to Maui amidst the fire's destruction on that island. Major airlines are assisting in efforts to evacuate residents and visitors already located in danger zones, and people with trips planned to Maui are being asked to postpone them, with airlines and accommodation providers offering travelers flexibility to rebook. Here's what to know if you had a vacation in Hawaii scheduled. What parts of Hawaii are experiencing fires? According to local news outlet Hawaii News Now, there are "several out-of-control wildfires on Maui and Hawaii Island." On Maui, the deadly wildfires are currently ablaze in Lahaina, Kihei and Upcountry Maui. The northwest part of the Island of Hawaii, between Hapuna and Kawaihae, is also affected. Can I still go to Maui? The Hawaii Tourism Agency is strongly discouraging non-essential travel to Maui. Even tourists who are already there are encouraged to depart immediately, if they can. "Visitors currently on Maui for non-essential travel reasons are being asked to leave the island as rescue and recovery efforts continue," the Hawaii Tourism Agency said in a statement Wednesday. Travel to the island of Hawaii remains unaffected, and the government said it remains to safe to visit other islands. Are commercial airlines flying to Maui? Many airlines are offering travel waivers that allow customers with immediate plans to travel to Maui to rebook their flights without fees, or to cancel them altogether for credit or, in some cases, a full refund. In 2020, airlines loosened their flight change policies to better accommodate passengers affected by Covid-19-related disruptions. "With the exception of basic economy tickets, almost all U.S. airlines allow you flexibility to either reschedule your trip or cancel and get the full amount you paid back for travel credit for future trip," Scott Keyes, of travel site Going told CBS MoneyWatch. "So you automatically have a lot of flexibility to change your plans or save flight credit for a future trip. That was not really the case pre-pandemic." United Airlines said it's prioritizing the welfare of its employees on Maui and has scrapped commercial flights to the island. It is instead using empty passenger planes to carry Maui residents off the island. "We've cancelled today's inbound flights to Kahului Airport so our planes can fly empty to Maui and be used as passenger flights back to the mainland," the airline said in a statement to CBS MoneyWatch. The airline also has waivers in place for United passengers who had been scheduled to fly to or from Kahului airport on Maui, as well as Honolulu airport. Customers may either rebook themselves on a flight that departs on or before Aug. 16, or cancel the flight altogether for a full refund, the airline said on its website. For its part, American Airlines said on Thursday that it planned to operate all scheduled flights to and from Maui. The airline is also allowing customers whose travel is affected by the wildfires to rebook without fees or to cancel and receive a full refund. Alaska Air, has a "flexible travel policy" in place that allows customers to change their flights at no cost through Aug. 31 or cancel them in exchange for a travel voucher worth the cost of the flight. Some would-be visitors to Maui said on X, the social media platform formerly known as Twitter, that they wanted outright refunds from airlines, as opposed to the option to rebook within a short time frame, given the extent of devastation the wildfires have caused. Even if some flights are taking off, "we have nowhere to stay as our hotel was on the west Maui in Lahaina," said one frustrated traveler. Southwest Airlines said it had added flights between islands and back to the mainland U.S. "to keep people and supplies moving." Some fares from Maui to the mainland U.S. are under $100. Hawaiian Airlines also said it's adding extra flights between Maui and Honolulu for as little as $19 "to facilitate urgent travel." The Hawaii Tourism Agency added that "airlines are being very supportive during this emergency crisis and providing additional flights to help visitors depart from Maui. Airlines are also adjusting their travel schedules to support those visitors who had planned to arrive this week." Will I be compensated for my accommodations? Many major hotels and resorts in vulnerable areas have lost power, halted service and stopped accepting guests altogether. The Hyatt Regency Maui Resort and Spa said the hotel is "closed to arrivals and not accepting guests" through Aug. 13. It will issue refunds including for deposits and prepayments to guests who had been scheduled to stay at the property through the weekend. Homesharing site Airbnb said its extenuating circumstances policy has gone into effect for parts of Hawaii, including all of Maui. It allows hosts and guests to cancel their stays without penalty and entitles guests to full refunds for reservations they don't use. What if I bought travel insurance? In the case of non-refundable reservations, a travel insurance policy could help you recoup funds related to a trip you didn't take. For travelers already on Maui, some of these policies also come with medical evacuation options that can help visitors to the island get to safer grounds. Some credit card companies even build in protections related to travel too, without requiring that you sign up for additional protections. "Many of them automatically include travel insurance, so check and see what you're entitled to," Keyes said. —With reporting by Elizabeth Napolitano

Conservative groups are challenging corporate efforts to diversify workforce 2023-08-10 - U.S. corporations that vowed to diversify their workforces three years ago are now seeing those goals come under fire by conservative legal groups. America First Legal and the Wisconsin Institute for Law and Liberty, two right-leaning nonprofits, have filed lawsuits in recent years against employers like Texas A&M University, Target and Kellogg's, challenging their efforts toward diversity, equity and inclusion, or DEI. Conservative legal groups have been fighting diversity hiring practices for years but the U.S. Supreme Court's decision in June to strike down affirmative action in college admissions has added fuel to their engine, Lauren Weber, a Wall Street Journal reporter, told CBS News. "The affirmative action case which you mention addressed higher education; it did not address any of these employment programs — but that may be the next frontier, and I think that's partly what these groups are counting on," Weber said. In a more recent DEI legal challenge, America First Legal filed a lawsuit against Nordstrom in June arguing that the clothing retailer's goal of increasing representation of Black and Latino people in manager roles by at least 50% by the end of 2025 is discriminatory because it is race-based. Conservative legal groups are using two federal laws — the Civil Rights Act of 1964 and the Civil Rights Act of 1866 — as the main foundation for many of their DEI challenges, Weber said. The use of those laws by conservatives is noteworthy because they were passed decades ago with hopes of expanding employment opportunities for people of color, she said. "So, you see these same tools that were used to expand opportunity, now being used to challenge these DEI programs," Weber said. "None of the laws have changed here, but I think the question of what are the practical risks with some of the programs has changed." "Committed as ever" While more lawsuits may lead some employers to ease back on diversity programs, Weber said, many plan to forge ahead —even if it means a court battle. "Some companies that are more risk-averse may pull back, but many companies we've spoken to said 'Nope, we are not changing anything. We are as committed as ever,'" she said. "This comes down to a fundamental question of 'Does equal opportunity exist in the American workplace and American corporations?'" During the pandemic and in the wake of George Floyd's murder in Minnesota, some of the nation's largest companies vowed to increase diversity among their corporate ranks. Best Buy and Starbucks, for example, aspired to fill a third of their corporate jobs with people of color by 2025. Adidas, Facebook, Google, Wells Fargo and Microsoft had similar goals. Under the Trump administration, the U.S. Department of Labor challenged those hiring goals in 2020, arguing that basing hirings targets largely on race was discriminatory.

Supreme Court temporarily blocks Purdue Pharma settlement that would shield Sackler family 2023-08-10 - Washington — The Supreme Court on Thursday temporarily blocked a nationwide settlement with OxyContin maker Purdue Pharma that would shield members of the Sackler family who own the company from civil lawsuits over the toll of opioids. The justices agreed to a request from the Biden administration to put the brakes on an agreement reached last year with state and local governments. In addition, the high court will hear arguments before the end of the year over whether the settlement can proceed. The deal would allow the company to emerge from bankruptcy as a different entity, with its profits used to fight the opioid epidemic. Members of the Sackler family would contribute up to $6 billion. But a key component of the agreement would shield family members, who are not seeking bankruptcy protection as individuals, from lawsuits. The U.S. Bankruptcy Trustee, represented by the Justice Department, opposes releasing the Sackler family from legal liability. The justices directed the parties to address whether bankruptcy law authorizes a blanket shield from lawsuits filed by all opioid victims. The 2nd U.S. Circuit Court of Appeals had allowed the reorganization plan to proceed. In a filing with the Supreme Court, Solicitor General Elizabeth Prelogar said that if the lower court's decision is allowed to stand, it would provide a "roadmap for wealthy corporations and individuals to misuse the bankruptcy system to avoid mass tort liability." "That is not what Congress enacted the Bankruptcy Code to accomplish," she told the justices. "And if such abuses are permitted, the gamesmanship that is sure to follow will only amplify the harms to victims by redistributing bargaining power to tortfeasors." Lawyers for Purdue and other parties to the agreement had urged the justices to stay out of the case. "This is a baseless stay application that, if granted, would harm victims and needlessly delay the distribution of billions of dollars to abate the opioid crisis," Purdue's lawyers wrote. Ed Neiger, a lawyer representing individual victims of the opioid crisis who would be in line for a piece of the settlement, said it was a disappointment that they would have to wait longer for any compensation but also praised the court for agreeing to hear the case so soon. "They clearly see the urgency of the matter," he said. Another group of mostly parents of people who died from opioid overdoses has called for the settlement not to be accepted. Opioids have been linked to more than 70,000 fatal overdoses annually in the U.S. in recent years. Most of those are from fentanyl and other synthetic drugs. But the crisis widened in the early 2000s as OxyContin and other powerful prescription painkillers became prevalent.

UPS says drivers to make $170,000 in pay and benefits following union deal 2023-08-10 - UPS drivers will earn an average of $170,000 in annual pay and benefits at the end of a five-year contract agreement, UPS CEO Carol Tomé said during an earnings call this week. The executive's comments punctuated the end of a weekslong struggle between UPS and the Teamsters Union which negotiated with the carrier last month to avert a strike and secure a new contract for 340,000 union employees. "We expected negotiations with the Teamsters to be late and loud, and they were," Tomé said during the call. As a result, UPS slashed its full-year revenue forecasts "primarily to reflect the volume impact from labor negotiations and the costs associated with the tentative agreement," she added. The deal, which was reached on July 25, will increase full-time workers' compensation to $170,000 from roughly $145,000 over five years, according to UPS' calculations. It will also boost part-time workers' salaries to at least $25.75 per hour, and end mandatory overtime, Tomé told investors on Tuesday. Online searches for jobs with "UPS" or "United Parcel Service" in the title jumped 50% in the week after the new pay deal was announced, Bloomberg News reported, citing data from Indeed. Higher six-figure pay for UPS drivers By the end of the new contract, full-time UPS delivery drivers will make an average of $49 per hour, which works out to nearly $102,000 per year, assuming a 40-hour workweek, 52 weeks a year. That places UPS drivers near the same pay grade as software developers, finance directors and physician assistants, who all earn average salaries in the $108,000 - $115,000 range, according to Indeed. UPS did not immediately respond to CBS MoneyWatch's request for comment about how drivers' projected $170,000 pay and benefits figure was calculated. The new labor contract should "be ratified in two weeks," with voting ending on August 22, Tomé said. UPS' deal with the Teamsters is the "single largest private-sector collective bargaining agreement in North America," the union group said in a blog post last month. It comes as unions notch wage increases for aviation workers and less than a year after a court reaffirmed union workers' win at Amazon's Staten Island warehouse.

Target recalls more than 2 million scented candles after reports of glass shattering during use 2023-08-10 - Target has recalled about 2.2 million scented candles sold exclusively at its stores because the candles' glass jars may suddenly shatter while the wick is burning. The recall, issued Thursday by the Consumer Product Safety Commission (CPSC), affects Threshold Glass Jar 5.5 ounce 1-Wick and 20 ounce 3-Wick Candles sold in a variety of scents like Blue Agave & Cactus, Frosted Holly Berries and Pineapple Sage. Manufactured in Vietnam, the candles come in glass jars that can crack or break during use, posing laceration and burn risks, a the recall notice on its website. Target has so far received 19 reports of the jars breaking or cracking during use. One such incident caused a minor injury, the CPSC said. Target sold the candles nationwide for between $3 and $12 from February 2020 and July 2023. Target has recalled millions of Threshold brand candles sold exclusively at its stores because of laceration and burn hazards posed by the products' glass jars which may shatter during use. Consumer Product Safety Commission The recall affected Threshold scented candles with the following item numbers which can be found on the product stickers located on the bottom of the glass jars. 20 oz 3-Wick Jar Pineapple Sage & Sugarcane -Threshold. Item number: 054-09-0056 20 oz 3-Wick Jar Berry Lemonade & Melon - Threshold. Item number: 054-09-0200 20 oz 3-Wick Jar White Gardenia & Jasmine - Threshold. Item number: 054-09-0266 20 oz 3-Wick Jar Charcoal & Black Teakwood - Threshold. Item number: 054-09-0268 20 oz 3-Wick Jar Rose Petal & Lotus - Threshold. Item number: 054-09-0271 20 oz 3-Wick Jar Peony & Cherry Blossom - Threshold. Item number: 054-09-0275 20 oz 3-Wick Jar Pineapple Sage & Sugarcane - Threshold. Item number: 054-09-0276 20 oz 3-Wick Jar Woodland Cypress & Bergamot - Threshold. Item number: 054-09-0294 20 oz 3-wick Jar Macintosh & Pumpkin - Threshold. Item number: 054-09-0562 20 oz 3-Wick Jar Frosted Holly Berries - Threshold. Item number: 054-09-0589 20 oz 3-Wick Jar Harvest Festival - Threshold. Item number: 054-09-0679 20oz 3-Wick Jar Macintosh & Pumpkin - Threshold. Item number: 054-09-0697 20 oz 3-Wick Jar Merry Berry - Threshold. Item number: 054-09-0701 20 oz 3-Wick Jar Christmas Velvet - Threshold. Item number: 054-09-0723 20 oz 3-Wick Jar Blue Agave & Cactus - Threshold. Item number: 054-09-0743 20 oz 3-Wick Jar Wild Honeysuckle & Lilac - Threshold. Item number: 054-09-0774 20 oz 3-Wick Jar Soft Cashmere & Lavender - Threshold. Item number: 054-09-0816 20 oz 3-Wick Jar Candied Almond & Vanilla - Threshold. Item number: 054-09-1164 20 oz 3-Wick Jar White Gardenia & Jasmine - Threshold. Item number: 054-09-1222 20 oz 3-Wick Lidded Glass Rainwater Lily - Threshold. Item number: 054-09-1442 20 oz 3-Wick Jar Citrus Zest & Aloe - Threshold. Item number: 054-09-1534 20 oz 3-Wick Jar Smoked Cinnamon & Hickory - Threshold. Item number: 054-09-1589 20 oz 3-Wick Jar Golden Orchid - Threshold. Item number: 054-09-1798 20 oz 3-Wick Jar Candle - Apple & Evergreen - Threshold. Item number: 054-09-2225 20 oz 3-Wick Jar Pineapple Sage - Threshold. Item number: 054-09-2682 20 oz 3-Wick Jar Vanilla Pumpkin - Threshold. Item number: 054-09-2683 20 oz 3-Wick Jar Candle Fresh Linen & Sea Salt - Threshold. Item number: 054-09-3080 20 oz 3-wick Jar Cashmere Cinnamon - Threshold. Item number: 054-09-3142 20 oz 3-wick Jar Pine & Juniper - Threshold. Item number: 054-09-3218 20 oz 3-Wick Jar Cinnamon Beignet - Threshold. Item number: 054-09-3233 20 oz 3-Wick Jar Twilight Woods & Amber - Threshold. Item number: 054-09-3888 20 oz 3-Wick Jar Cerulean Surf & Sea - Threshold. Item number: 054-09-3919 20 oz 3-Wick Jar Blue Agave & Cactus - Threshold. Item number: 054-09-3970 20 oz 3-Wick Jar Candied Almond & Vanilla - Threshold. Item number: 054-09-4045 20 oz 3-Wick Jar Apple Blossom & Breeze - Threshold. Item number: 054-09-4079 20 oz 3-Wick Jar Wonder Berry & Sage - Threshold. Item number: 054-09-4722 20 oz 3-Wick Jar Spiced Vanilla - Threshold. Item number: 054-09-5026 20 oz Lidded Milky Glass Jar 3-Wick - Frosted Vanilla Cupcake Candle - Threshold. Item number: 054-09-5706 Item number: 054-09-5706 20 oz 3-Wick Jar Green Mango & Pomelo - Threshold. Item number: 054-09-5711 20 oz 3-Wick Jar Spiced Gingerbread Cookie - Threshold. Item number: 054-09-5888 20 oz Lidded Glass 3-Wick Strawberry & Hibiscus - Threshold. Item number: 054-09-6079 20 oz 3-Wick Jar Pumpkin Spice - Threshold. Item number: 054-09-6795 20 oz 3-Wick Jar Fresh Fraser - Threshold. Item number: 054-09-6993 20 oz 3-Wick Jar Spiced Gingerbread Cookie - Threshold. Item number: 054-09-7437 20 oz 3-Wick Jar Red Mandarin & Guava - Threshold. Item number: 054-09-7504 20 oz 3-Wick Jar Warm Cider & Cinnamon - Threshold. Item number: 054-09-7849 20 oz 3-Wick Jar Water Mint & Eucalyptus - Threshold. Item number: 054-09-7915 20 oz 3-Wick Jar Christmas Velvet - Threshold. Item number: 054-09-8165 20 oz 3-Wick Jar Candle Coconut White Woods - Threshold. Item number: 054-09-8380 20 oz 3-Wick Jar Caramel Latte - Threshold. Item number: 054-09-8559 20 oz 3-Wick Jar Tonka & Vanilla Amber - Threshold. Item number: 054-09-8670 20 oz 3-Wick Jar Berry Lemonade & Melon - Threshold. Item number: 054-09-8758 20 oz 3-Wick Jar Pumpkin Spice - Threshold. Item number: 054-09-8768 20 oz 3-Wick Jar Green Mango & Pomelo - Threshold. Item number: 054-09-8942 20 oz 3-Wick Jar Garden Herb & Cucumber - Threshold. Item number: 054-09-8993 20 oz 3-Wick Jar Pumpkin Woods - Threshold. Item number: 054-09-9017 20 oz 3-Wick Jar Merry Berry - Threshold. Item number: 054-09-9120 20 oz 3-Wick Jar Tangerine Ginger - Threshold. Item number: 054-09-9293 20 oz Lidded Milky Glass Jar 3-Wick - Orange Blossom & Oak Candle - Threshold. Item number: 054-09-9306 Item number: 054-09-9306 20 oz 3-Wick Jar Fresh Fraser - Threshold. Item number: 054-09-9690 20 oz 3-Wick Jar Harvest Festival - Threshold. Item number: 054-09-9801 5.5 oz Jar Blue Agave and Cactus Candle - Threshold. Item number: 054-09-8268 The candles were manufactured in Vietnam and Target has so far received 19 reports of the jars breaking or cracking. One such incident caused a minor injury, the CPSC said. Target sold the candles nationwide for between $3 and $12 from February 2020 and July 2023. Anyone with the candles should stop using it immediately and return it to Target for a full refund, the CPSC said. Customers can also contact Target directly to get a prepaid shipping label to return the product by mail. The company announced a similar recall for the same brand of candle in May, which included the 14-ounce sizes. They too had problems with the jar's glass breaking. Consumers with questions about the recall can contact Target at 1-800-440-0680 or visit help.target.com.

Disney is raising prices on ad-free Disney+, Hulu — and plans a crackdown on password sharing 2023-08-10 - Walt Disney's ad-free streaming services are about to get more expensive — and the media giant is also vowing to crackdown on password sharing. Disney on Wednesday said it will boost the cost of ad-free Disney+ by $3 a month, or about 27%, to $13.99. It also plans to increase the monthly fee for ad-free Hulu by $3, or 20%, to $17.99. The new pricing will go into effect on October 12, the company said. The plans to boost prices and dissuade users from sharing passwords come as streaming networks are witnessing a slowdown in subscriber growth. In the case of Disney+, the service shed about 300,000 subscribers in the U.S. and Canada since April, the company said in its earnings report on Wednesday. Disney CEO Robert Iger said that the company is seeing stronger demand for its ad-supported streaming networks from marketers than older television and cable platforms. "[T]he advertising marketplace for streaming is picking up," Iger said on a conference call with investors and analysts. "It's more healthy than the advertising marketplace for linear television." He added, "We believe in the future of advertising on our streaming platforms both Disney+ and Hulu, and we're obviously trying with our pricing strategy to migrate more subs to the advertiser-supported tier." Disney password sharing crackdown Disney also said it plans to crack down on password sharing, although it didn't disclose details on how it plans to do so. The company is following rival Netflix in trying to stop subscribers from passing their account details to other people. "Regarding password sharing, we already have the technical capability to monitor much of this," Iger said on the conference call. "What we don't know, of course, is as we get to work on this, how much of the password sharing as we basically eliminate it will convert to growth in [subscribers]." Some analysts doubted whether price hikes and getting tough on password sharers can do much to lead Disney back to sustainable growth. Paul Verna, an analyst with Insider Intelligence, said in a note that the company's moves aren't likely to calm investors "anxious for clarity on the company's strategy for its streaming services and TV networks." —With reporting by the Associated Press

Inflation rose 3.2% in July, marking the first increase after a year of falling prices 2023-08-10 - Inflation rose by an annual rate of 3.2% in July, reflecting the first increase after 12 consecutive months of cooling prices. The Consumer Price Index, which tracks a basket of goods and services typically purchased by consumers, grew 0.2%, the same as it did in June, the Labor Department said Thursday. The increase fell just below economists' forecast of 3.3%, according to FactSet. The so-called core CPI, which excludes volatile fuel and food costs, rose 4.7% from a year ago. "Overall, the underlying details of the July CPI inflation data are consistent with ongoing progress on disinflation," said Gurpreet Gill, global fixed income macro strategist at Goldman Sachs Asset Management. "Although core services inflation trended higher on the month, other component-level trend are evolving in line with our expectations." The uptick, the first increase in the pace of growth since June 2022, is due partly to higher housing and food costs. Even so, economists said underlying pressures are easing and the economy is showing signs that price increases will continue to cool. Gill added, "In particular, rents and used car prices softened, alongside clothing and airfares." Housing costs, airline fares The cost of shelter surged, accounting for 90% of the total increase after rising 7.7% on an annual basis. The recreation, new vehicles and household furnishings and operations indexes also rose. Vehicle insurance costs also increased, jumping to 2% after climbing 1.7% in June. Vehicle insurance providers have hiked prices as they face higher repair and replacement costs, according to OANDA senior market analyst Ed Moya, adding that the slight rise in inflation in July does not tarnish the larger picture. "It's nothing that will derail this past year of steadily declining prices," Moya told CBS MoneyWatch prior to the inflation report's release. "There is a lot of optimism that we're going to see that disinflation process remain intact." Price declines Meanwhile, some types of services and products saw price declines, including airline fares, which fell 8.1% on a monthly basis. That represents the fourth straight month of declines for airfares. Goldman Sachs economists expect core CPI inflation to remain in the 0.2%-0.3% range going forward, kept in check by higher levels of auto inventories which will drive down used car prices. Used car prices are expected to fall 10% year-over-year in December 2023, analysts said in a research note. Another rate hike? The latest CPI report signals that the Fed's series of aggressive rate hikes have not been sufficient to battle inflation. "Still, we expect the Fed to skip rate hikes in September and November, when inflation should have decelerated even further," Ryan Sweet, Oxford Economics chief US economist said in a research note. "Therefore, we believe the Fed is done hiking rates in this tightening cycle but won't cut rates until early next year as they will want to err on the side of keeping rates higher for longer to ensure they win the inflation battle." Other economists agree the Fed will likely press pause on hiking interest rates. "Fed officials will likely look at the report as one more step down the disinflationary path," EY-Parthenon senior economist Lydia Boussour said in a research note. That said, it will "keep the door open to further rate hikes if the data justifies it."