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4 Actions Sure to Get Your Costco Membership Canceled 2024-07-15 02:00:00+00:00 - Image source: Upsplash/The Motley Fool Costco is famous for going out of its way to satisfy members. Everything, from sample stations throughout the store to its generous return policy, is meant to keep customers happy. However, that's not to say that members can do whatever they want. Specific actions just may get a membership canceled. And once a Costco membership has been canceled by the warehouse giant, it's not easy to purchase a new one. Even if you would never take any of these actions, it's interesting to know what others are up to. 1. Getting creative with the store's return policy For a few Costco members, protecting their personal finances means taking advantage of the store's return policy. Most items purchased at Costco can be returned at any time, while products like televisions and computers have a (still) generous 90-day return window. RELATED: The #1 Strategy for Saving Money at Costco Unfortunately, Costco employees are sometimes faced with dealing with shoppers who routinely make questionable returns. For example, on a Costco employee Reddit board, someone calling themselves dyzlexiK told the story of two customers who apparently had more nerve than common sense. As dyzlexiK told it, "Years ago, we had a GM that was very aggressive with return abusers. I mean like bad abusers, not just people who return a lot. So these guys come in to return two TVs. This is their 7th and 8th returned TVs in 90 days, always just before the 90-day mark." DyzelexiK went on to say that it had become obvious that the gentlemen were going to continue buying and returning televisions before the 90 days expired, so they would never actually have to pay for them. DyzlexiK continued, "GM comes out to accept the return and say, 'Well, I guess the quality of our product isn't up to your standards, so we hope you find somewhere that fits your needs.'" The general manager laid the men's $55 membership fee on the counter and wished them a good day. One has to wonder how long it took them to realize their membership had just been canceled and their days of watching a new television every 90 days were over. 2. Abusing an employee If it seems like people are becoming bolder about showing their ugly side in public, you're absolutely right. According to the National Retail Federation – the world's largest retail trade association – nearly four out of five companies have seen a rise in guest-on-associate violence. The impact on employees can be dramatic, leading to emotional and psychological distress, decreased job satisfaction, reduced productivity, and higher turnover rates. That doesn't even begin to account for the danger to an employee's physical well-being when a customer gets carried away. Story continues Verbally assault or touch a Costco employee, and you can expect to have your membership immediately revoked. 3. Theft Whether a member hides a package of lightbulbs under their coat, slips on a new pair of boots and leaves their old boots in the store, or takes the price tag off an inexpensive cut of meat and puts it on a more expensive cut, it's theft. There's no doubt that sticking to a budget can be tough, but stealing from any retailer will bring trouble. At Costco, it can also lead to revocation of membership and a permanent ban from the retailer. 4. "Timing" your membership Another Costco employee on Reddit -- this one with the handle CostcoPanda -- shared the story of a very bold former member who went to the customer service desk asking to cancel their membership. The man had used about 10 months of the 12 months he originally paid for. Once the man received his refunded membership fee, he handed it back to CostcoPanda and said, "Just take that and sign me up again." The creative member went on to admit that he makes the same move every year because he doesn't believe in membership fees. After checking the customer's membership history, CostcoPanda realized that the man had canceled and immediately renewed his membership once a year. It would be interesting to see the expression on the member's face when he was told that his membership was being deactivated for violating Costco's membership policy. The easiest way to avoid a membership cancellation may be to remember the Golden Rule. Treat others (even multinational corporations) the way you want to be treated. Top credit card to use at Costco (and everywhere else!) If you’re shopping with a debit card, you could be missing out on hundreds or even thousands of dollars each year. These versatile credit cards offer huge rewards everywhere, including Costco, and are rated the best cards of 2024 by our experts because they offer hefty sign-up bonuses and outstanding cash rewards. Plus, you’ll save on credit card interest because all of these recommendations include a competitive 0% interest period. Click here to read our expert recommendations for free! We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Dana George has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy. 4 Actions Sure to Get Your Costco Membership Canceled was originally published by The Motley Fool
Trump shooting live updates: FBI investigating the assassination attempt as domestic terrorism 2024-07-14 21:56:00+00:00 - Renee White and Tim Wadzita were sitting "dead center" right behind Trump on the seventh riser at his rally yesterday when shots rang out. Wadzita said he was still in "shock of how surreal the moment was" because earlier people had been having a "blast," just "being present" and "understanding" with each other. White said they were in a "tight shot" just behind Trump. She said she was looking at the jumbotron when she heard the first shot. She followed the sound "right to Trump," then heard the next two shots and watched him go down to the ground as Secret Service agents piled on top of him. Show more She said that once she started hearing how the agents were communicating with one another, "everything else went away," and she realized "this is real." "And then when I saw them get up off the stage and I saw his shoe laying there. That’s when it hit like really hard. That’s when you felt it," she said. "That’s when you were like, 'Oh, my God, this could have ended up totally different way,' right? That’s what blew me away more than anything." White said she watched officials carry the dead body off the scene, saying, "I did see that limp leg in the in the denim jeans, and that’s something I can’t scrub from my mind in my head." Wadzita said that he didn't know whether there were one or multiple shooters and that officers kept telling rallygoers to get down and stay down. There was confusion when Trump got back up, he said, because everyone got back up, but they were told to get down again. It's not lost on Wadzita that had the shooter fired from a different angle, they could have been hit. "We would have been in the firing zone, and that’s just, like, you feel disconnected from that for a little bit," he said. Yesterday’s was White’s 32nd Trump rally, and she said that despite what transpired, she’ll be back. "You bet I will," she said. "It’s not anything different than walking across the street, you know, you could get hit by a car, right? But if you’re doing something you love and you like to do, place you want to be, something happens, it happens." But she's still in disbelief: "I can't believe somebody did this. I can't believe somebody would try to take out a president, a former president, of the United States. Whether it's Joe Biden or Trump, I don't think it's right." Both Wadzita and White ultimately hope good comes from the bad and that the assassination attempt will bring Americans together. "It’s all about the ballot. It’s all about doing your voting," White said. "Never violence, always in peace."
Former Secret Service agent says counter snipers at Trump rally should have had '360 degree coverage' of surrounding buildings 2024-07-14 21:46:11+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview A former Secret Service agent said counter-snipers at the Pennsylvania rally where a would-be assassin wounded former President Donald Trump should have had "360-degree coverage" of the event and surrounding buildings. "I don't know how many they had, but they usually always look for 360-degree coverage," former Secret Service agent Anthony Cangelosi told Business Insider. "So that's one thing that's going to be considered." This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. The Federal Bureau of Investigation identified the shooter as a 20-year-old man from Bethel Park, Pennsylvania. Cangelosi, who is now an adjunct professor at the John Jay School of Criminal Justice at the City University of New York, said the primary question law enforcement would likely be asking is how the suspect could have made it to the top of a nearby building undetected. Advertisement Butler Township Sheriff Michael Slupe told The Washington Post that a local officer encountered the suspect before the shooting but dropped to the ground because he did not have his weapon. For a large event where the president or former president is speaking, the Secret Service on the scene would typically work with law enforcement to design a "site plan" with a mock-up of the event space and all surrounding buildings, Cangelosi said. Related stories This plan will be paramount for investigators in determining what possible failures occurred during the rally, according to Cangelosi. "All the posts — meaning personnel, Secret Service or uniformed police officers, where they were positioned, what their duties were to secure that post, what considerations were given to the outer perimeter, in this case, the other building," will be included in the site plan, Cangelosi said. Advertisement Cangelosi said the Secret Service would sometimes use "counter-sniper response units," which are posted on the ground and can quickly move into position if they notice a threat. "However, time could also be of the essence, right?" Cangelosi said. "You might not have the ability to send a counter-sniper response team up to the location" Snipers often quickly have to make a decision when they notice a potential threat like an open window or a person sitting on a roof Cangelosi said. "What if you find out, 'Oh, I just killed a kid, 20-year-old kid who loves the protected, and he couldn't get in the venue, and he just wanted to get up on that roof,'" Cangelosi added. "No one wants to be in that position." Advertisement Cangelosi said he expects the Secret Service to amp up security at future events moving forward. Trump has already confirmed he plans to speak at the Republican National Convention in Wisconsin next week. "The Secret Service is well aware of the fact that they have to be perfect all of the time," Cangelosi said. "And the one time you're not, it's going to bring an increased scrutiny."
Local officer encountered Trump rally gunman on roof moments before shooting but retreated: report 2024-07-14 21:39:52+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview A municipal police officer at Donald Trump's rally in Pennsylvania encountered the shooter before the assassination attempt but retreated, according to The Washington Post. Butler County Sheriff Michael T. Slupe told the outlet that the officer inspected the roof after an unnamed law enforcement agency requested identification of a "suspicious individual" at the rally, the Post reported. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. After the officer pulled himself up high enough to see onto the roof of a building near the rally, the shooter, now identified as Thomas Matthew Crooks, turned around and aimed his gun at the officer, prompting him to drop back to the ground, the outlet said. Slupe said the officer did not have a gun in his hand at the time because he was holding onto the roof's ledge. Advertisement "He lets go because he doesn't want to get killed," Slupe told the outlet. Crooks then shot at Trump. Secret Service agents quickly surrounded the president, who later confirmed in a Truth Social post that a bullet struck his ear. A Secret Service sniper fatally shot Crooks. Related stories The Butler County Sheriff's Office did not respond to a request for comment from Business Insider. Advertisement Law enforcement officials and the Secret Service are facing criticism following the incident. A former intelligence officer at the Defense Intelligence Agency told BI said it's "mind-boggling" that Crooks managed to reach the rooftop and have a clear shot at Trump. An AP analysis of the footage found that Crooks managed to get "astonishingly close" to the stage. According to the outlet, the roof was less than 164 yards from where Trump stood onstage. President Joe Biden ordered an independent probe of Trump's rally security on Sunday in the shooting's aftermath. Advertisement "I've directed an independent review of the national security of yesterday's rally, and we will share the results of that independent review as well," Biden said. GOP House Speaker Mike Johnson said the House would investigate events at the rally. On Saturday, the Federal Bureau of Investigation announced it assumed the lead role in the investigation in a post on X. Trump will speak at the Republican National Convention in Milwaukee this week. "In this moment, it is more important than ever that we stand United, and show our True Character as Americans, remaining Strong and Determined, and not allowing Evil to Win," he said in a Truth Social post.
50% of Americans believe political violence is a 'very big problem' in the US after Trump rally shooting 2024-07-14 21:30:16+00:00 - The threat of political violence has been an unfortunate element of many open societies. In a YouGov poll taken after the Trump rally shooting, half of US adults said it's "a very big problem." President Joe Biden is seeking to project an image of unity and calm a stunned nation. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement One thing is clear after shots were fired at former President Donald Trump during his Saturday rally in Pennsylvania: Americans are freaked out. In a YouGov poll taken after the shooting, 50% of adults said that political violence is "a very big problem" in the US. An additional 32% of adults said that political violence is "somewhat of a problem" in American society. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .
Trump shooter used 'AR-style' rifle that was legally purchased: FBI 2024-07-14 21:07:57+00:00 - The shooting suspect who attempted to assassinate Donald Trump at a Pennsylvania rally used an "AR-style" rifle, the FBI says. Police identified the shooter as a 20-year-old male from Bethel Park, Pennsylvania. The FBI confirmed the weapon Crooks used was purchased legally. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement The would-be assassin of former President Donald Trump at a Pennsylvania rally on Saturday used an "AR-style" rifle that was purchased legally, the FBI believes. The FBI, on early Sunday morning, confirmed the shooter as Thomas Matthew Crooks, 20, of Bethel Park, Pennsylvania. FBI Special Agent Kevin Rojek, director of the agency's Pittsburgh field office, said in a news conference Sunday afternoon that the FBI recovered an "AR-style 556 rifle which was purchased legally." This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .
Ex-Secret Service special agents explain why counter-sniper who saved Trump's life may have lost crucial seconds 2024-07-14 20:12:37+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview The Secret Service counter-sniper who narrowly saved the life of former President Donald Trump may have lost crucial seconds due to a number of factors, including the extreme heat, a lack of anti-sniper backup, and a likely focus on a nearby treeline, a former special agent told Business Insider. "This counter-sniper made an amazingly quick decision and clearly saved Trump's life," said Bill Pickle, the former special agent in charge of Al Gore's vice-presidential Secret Service detail. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. "Our guys are the best shots in the world. That's what they do," Pickle said. "And within a second of the moment this kid opened fire, the CS guy shot him," he said, using Secret Service shorthand for the counter-sniper deployed at Saturday night's rally in Butler, Pennsylvania. Advertisement "But someone will blame that CS and the spotter, and say, 'If only he had been two seconds faster in spotting the shooter,'" the former special agent said. "The real question may be, if there were more anti-sniper eyes on that building, could this have all been avoided." How did the counter-sniper team not see the shooting suspect sooner? Pickle said one area of focus for investigators will be how the shooter managed to get on top of the building without authorities taking notice. "The other question is, why wasn't this roof secured, and were there agents or law enforcement in there checking IDs?" he added. Advertisement "How did this kid figure out a way to get out on the rooftop and slither across that rooftop?" Pickle said. "He low-crawled across the roof on his hands and knees, and he pushed the weapon ahead of him just like in the military." But even if they had seen the shooting suspect more quickly, counter-snipers may not always have the ability to act immediately when they spot a threat, according to Anthony Cangelosi, a former special agent who directed the Secret Service's technical security advances for presidential candidates. "You either have to make a decision: 'Do I take a shot? Or do I not take a shot?'" Cangelosi told Business Insider. "What if you find out, 'Oh, I just killed a 20-year-old kid who loves the protectee, and he couldn't get in the venue, and he just wanted to get up on that roof?' No one wants to be in that position," Cangelosi said. Advertisement Cangelosi said the Secret Service team at the event should have a "site plan" that would include a layout of the area and the surrounding buildings. The shooter was perched on a rooftop some 150 yards from the stage at the campaign rally in Butler, Pennsylvania. Jabin Botsford/The Washington Post via Getty Images The would-be assassin fired at least three rounds from a rooftop 150 yards from where Trump was speaking. He killed one rally-goer and critically injured two others before being shot dead by a yet-identified Secret Service counter-sniper, who was positioned on another rooftop. One bullet grazed Trump's right ear, bloodying his face. "This kid, at 150 yards, made a great shot," Pickle said Sunday of the would-be assassin, his voice grim. "I don't know the specifics of whether he used optics, meaning a scope on his rifle," he told BI. Advertisement "But even with optics, it takes somebody with training to aim at somebody's head from 150 yards away, and you actually hit the edge of the head," he said. "That's not a lucky shot. That's a guy who actually shot before." The FBI identified the shooter as 20-year-old Thomas Matthew Crooks of Bethel Park, Pennsylvania. The FBI said they are still investigating a motive. Related stories But for now, it's clear that at least three things may have factored into the several-second delay between when Crooks was seen crawling onto the roof and when the CS team saw and shot him, Pickle said. Advertisement The decision on how many anti-snipers to deploy may prove the most critical factor, he said. "Someone made a decision that that number of counter-snipers was sufficient," he said. "And obviously, in hindsight, they were wrong because there was a kid who was able to get up there on that rooftop and pull the trigger three times at least." How many CS teams were deployed? The Secret Service has advance teams that scope out sites and make staffing recommendations ahead of major events, one expert said. Jabin Botsford/The Washington Post via Getty Images Staffing decisions would have been made at Secret Service headquarters in Washington, based on whatever agency personnel on the ground recommended after a several-day investigation of the site, Pickle said. "An advance team actually does a lengthy survey, where they look at everything and then recommend what they need," he said. Advertisement "But if they're stretched for resources, headquarters can say we can only get you one team out there. And that's not unusual — if you don't have it, you don't have it," Pickle said. "It always boils down to resources," he said. "And if it's not a resource problem, and the money was there, then it's still an allocation of resources problem," he said — meaning someone underestimated the manpower needed to keep Trump safe. Regardless of how many snipers were present, the Secret Service would typically have "360-degree coverage" of an event where a sitting or former president is speaking, Cangelosi said. Other factors include the weather. Advertisement "The CS guys would probably say we were up there for four hours in 100-degree heat, and if we had another team up here or drone support this wouldn't have happened," Pickle said. The team may also have been focusing on a nearby tree line, seeing it as the primary risk. "You're looking at everything that would hide a potential assassin," Pickle said. "The first assumption is that if I'm a bad guy, I'm going to hide. Human nature is such that I'm going to be scanning the rooftops, to make sure they're empty, but then I'm going to be focusing on that tree line because you think the bad guy is going to be hidden," Pickle said. Advertisement "You don't think the bad guy is going to be out in the open," he said. Inter-agency squabbles and intense public scrutiny are forthcoming Once the would-be assassin opened fire, "everything that happened up there was textbook and the way it should have happened," Pickle said. The CS team returned fire, long-gun-toting counter-assault agents in black jumpsuits and helmets rushed the stage, and business-suited agents on the rally platform hurried Trump off stage. "But why wasn't he identified seconds sooner?" Pickle asked of the shooter. "Was it caused by exhaustion from being on a 100-degree roof for four hours? Was the CS team watching the heavy foliage there, which arguably was the best place to hide?" he asked. Advertisement "An open roof is not the best place to hide. If he climbed out onto an open rooftop, he was prepared to die," he added. "The worst nightmare for the Secret Service has always been a lone gunman who hasn't been announcing his views publicly and is ready to die." Pickle said Saturday's incident will be dissected for years to come and "will be in the training syllabus forever." "It's going to be a circular firing squad," Pickle predicted of the inter-agency finger-pointing and conspiracy theories that will play out as the attempted assassination is scrutinized by the FBI, Congress, and the press and public. Advertisement "This thing will be dissected for years, and it will be in the training syllabus forever," he said. Cangelosi told BI that "a lot of people talk and things just travel" within the agency after an event of this magnitude. "We all want answers, and we want them as quickly as possible, but it's it's going to take some time," Cangelosi said. "You know the Secret Service; they're professionals. Mistakes are made, they're going to remedy them."
Cramer: Here are 5 stocks I would buy right now — plus 3 to keep your eyes on 2024-07-14 19:17:00+00:00 - We've got our July Monthly Meeting this Wednesday and are preparing an exciting update of something we talked about at our annual gathering back in February . Join us live at noon ET. In the meantime, we received some terrific feedback from members after revealing in late May five stocks we would buy right here, right now. With the U.S. markets continuing to hit new records almost daily, including a the Dow Jones Industrial Average touching a new high above 40,000 on Friday, I wanted to do it again. And as much as I wanted to save these names for Wednesday's meeting, we already have a packed agenda, so I'm doing it here in my Sunday column. So which stocks would I buy right now? Here are five that are currently calling to me and saying it's a good level to start — along three problem stocks with potential to keep an eye on. Advanced Micro Devices The first is an old name that on Monday we're taking out of the Bullpen and putting back into the portfolio: Advanced Micro Devices . We owned this chipmaker for ages and made some terrific money on it before we exited our position in August 2023. We kept our Nvidia position and added Broadcom for its exposure to the fast-growing artificial intelligence market. But when we look at what can still be bought after last week's vicious rotation out of Big Tech to other parts of the stock market, we keep coming back to AMD. Why AMD? We finally have some good news to say about personal computers. The great refresh is occurring and it abnormally benefits AMD as it has run the table against Intel for PC dominance. Intel can't stop bragging and, frankly, I find it repulsive. The semiconductor chip business is about facts, not about sentiment. AMD has taken amazing market share but it hasn't meant all that much. Until now, when we have a whole new reason to buy. AMD has been working hand in glove with Microsoft and HP on the AI tool Copilot and I like what I see — a robust quarter that no one is looking for. But that's not all that has changed. AMD has a very good AI product, the MI300X GPU. It's done well but it isn't competitive with Nvidia because it doesn't have the training software that would make it a contender. I won't get too technical, but will instead say that this is the first time I have thought of AMD as a company that can be in the same league as Nvidia. Unfortunately for AMD, Nvidia is always one step ahead and AMD has nothing for Nvidia's Blackwell platform. But the fact is this: AMD has a product that companies will sample and it comes in underneath Nvidia's price. I am wary of people thinking I am wavering on Nvidia. I am not. I am simply saying that AMD was often boasting about how it could catch up with Nvidia, and this new effort is a meaningful change. Analysts will soon use it to promote the stock. I want you to get ahead of that. And while we expect Monday may not be a good day for tech stocks — remember it is only day three of the rotation — you have to buy AMD before the tide turns back to tech. AMD can "work" here in a way that most tech names can't. Wells Fargo First, let me say that I didn't like how Wells Fargo the company performed when it reported quarterly earnings Friday. But I really didn't like how Wells Fargo the stock performed, which is the opportunity. I expect that we get some downgrades or tepid buy reiterations. Not more than that. It was not a Charlie Scharf quarter. There was a surprise repricing of interest returns to clients that cost $300 million. There was sloppy expense control. Net interest income (NII) was not as good as expected. The tone of the call was one of resignation. But all that said the underlying business has momentum . Not different. The interest charge is now behind the bank and we know the net interest income is now taken away. Commercial real estate, while soft, continues to be under control as do credit card losses, the latter really important because Wells is expanding it nicely. So why bother to buy? Two reasons: Wells Fargo told a story about the country slowing down and with it the loan business headed lower. That's going to make Wells the bank that people buy when rates come down. CEO Charlie Scharf has certainly staked that out. Secondly, Charlie is building out both investment banking, mostly by taking some very important people from other firms, notably Doug Braunstein and Fernando Rivas from JPMorgan . These are bankable hires who come with established clients. Either man could have run JPMorgan if CEO Jamie Dimon had retired. He didn't and we see the hazards. Good people leave. These days they will go to Wells Fargo. The build out is happening at a time when there's not much business. But that can change with lower rates and I like what can happen for Wells when it comes to the lucrative portion of investment banking. Charlie's making his move when a huge amount of competition has dried up. It's smart. But it is costly. As is his build out of the credit card business, which is a counter to all of this focus on net interest income, which bores me because I care more about what a bank can do itself to grow without relying on rates — and credit cards and investment banking are the ways to go. I have been waiting for Charlie to play offense but this bank was so horrendous when it came to playing fast and loose that everything has been delayed. The changes still are not done. They keep a lid on how much stock Scharf can buy. He said the buyback will slow going forward. But let's put that in perspective. Three years ago Wells had 4 billion shares. Now it has 3.5 billion. That's a significant reduction. You are also getting a dividend boost to 40 cents from 35 cents. That's not bad, especially because the stock sells at just 11 times earnings. Charlie has to perform over the next couple of quarters. He knows it. There will be heat. But I like it more than any other bank after Friday's decline and we did sell a huge chunk of our position before the quarter, fearing a disappointment. I thought it might be in commercial real estate. I didn't see NII estimate reductions and the change in payouts to customers happening. Given the stock decline nobody else did either. Best Buy The other day I bumped into a Club member at one of my wife's Fosforo Mezcal events and he wanted to know why we were buying a brick-and-mortar entertainment store with all of these long leases and not a lot of reputational integrity. I said that Best Buy was much more than just a brick-and-mortar company and that its integrity was high. More importantly, like AMD, Best Buy is where people will try out a new AI PC. I know I have to get one. I have beaten the heck out of my current machine. I have no idea how souped up a new PC is but, it will beat this one I bought when the pandemic started. Best Buy has been allocated 40% of the new products so it will be synonymous with AI PCs and I like that. At a time of highly elevated P/Es, it sells at 14 times earnings, even after the quick run it has gone on after a recent upgrade. While there are some high-profile buys on the stock, almost nobody is squawking about sales. I like that. Plenty of time ahead for numbers to go higher. Costco You are not going to get many high-quality companies that have that kind of PC. I think that, obviously, Costco is a much higher-quality company overall. But even after its recent decline — down about 5% over the past five sessions — the stock sells at 52 times earnings, more than twice the market's multiple. As always, Costco remains a buy. But the numbers here could be explosive for the big box retailer if the new PCs take off. Another catalyst for Costco: On Wednesday, the company announced its long-awaited membership fee increase — the first since 2017. It will go into effect on Sept. 1 in the U.S. and Canada. The annual cost of the Gold Star card will go up by $5 to $65, while the higher-tier Executive plan will increase by $10 per year to $130. The company said about 52 million memberships, more than half of which are Executive, will be affected. DuPont I am totally mystified why people don't care more about the three companies CEO Ed Breen is creating from Dupont : Water treatment, electrics and the old DuPont, which includes health care and safety as well as Tyvek for housing and Kevlar for military use. Many portfolio managers are too young to remember when Breen in 2002 took over as CEO of Tyco, the conglomerate put together by the disgraced Dennis Kozlowski, and spent the next decade breaking it into three pieces. (Kozlowski was convicted in June 2005 of stealing hundreds of millions of dollars from Tyco, among other crimes). In 2007, Breen split off Tyco's health-care business to create Covidien, which was purchased in 2015 by Medtronic for a hefty price tag of $43 billion. Tyco Electronics also became an independent company, changing its name to TE Connectivity in 2011, which now has a market cap of $47 billion. The third piece, the old Tyco, was purchased by Johnson Controls in 2016 for $16.5 billion, a decent premium. That's $105 billion when you add those pieces up. Tyco was worth $20 billion when he stepped in as CEO. Now because Breen does not have to worry about the balance sheet of Dupont, as he had to with Tyco, I suspect the breakup will create a lot more value than most people think. I also don't expect the split to happen as the Street expects because the electronics business, linked to handsets, is going to ignite this year with the new iPhone. In addition, the water business is a very attractive takeover target for Xylem or Pentair — both of which need to grow. The fact that all of Dupont is worth just $33 billion when I expect that the pieces will trade at well in excess of that when they are publicly traded is just absurd. Because of the split up, you can safely buy some tomorrow and then get bigger, much bigger as it gets lower. GE Healthcare, Wynn and Starbucks Finally there are three companies that are down on their luck, all for different reasons: GE Healthcare , Wynn and Starbucks . First, GE Healthcare showed us a subpar quarter and a lack of sophistication about how to handle Wall Street. Here is a solid company with good growth that will accelerate as generative AI is rolled out. The MRIs it makes are great profit centers for whoever buys them, like RadNet , or many different hospital systems. GE, Philips and Siemens dominate the category. GE was so poorly run for so many years that it lost its lead on price and on quality. It also has a big bet on China, with 14% of its business there. China's a loser, plain and simple, a declining country with a pathetic growth path, a communist country spending a lot on military in order to take us on with a population that reminds me of East Germany before the Wall fell. Yet much of the Street, along with GE Healthcare CEO Peter Arduini, genuinely believe that China is still a growth business or that it will rebound soon. They are hopeless optimists. I was extremely disappointed at the last quarter. The company needs to demonstrate that it isn't being left behind by the competition. Management needs to own up that China's not coming back and do something about it. They have heard me loud and clear about this. Will they do something? I think they will. Wynn is ridiculous. The company is worth $9 billion. Put on the debt and is has an enterprise value of $18 billion. The heavily indebted Caesars has an enterprise value of $33 billion. Wynn has $7 billion in revenue and Caesars has $11 billion. Makes no sense. What's wrong? Caesars is domestic. Wynn's business is half Macau, which means China, which means pathetic and horrible and worth far less. That's how this stock can go down endlessly. I am not sure what Wynn can do to bring out more valuation. The stock more than reflects the worst of China. But I don't know when China gets better. But if this company were to split in two, it would trade much higher. As it is, Las Vegas Sands should just buy it. That could happen in a Trump regime but not in a Biden one. Wynn's stock is problematic. It traded at $140 before Covid. How could it be just $85 a share now? Because of the heavy China discount. I just wish this company was run by someone who understood that. Finally, you want management that doesn't understand? Check out Starbucks. Here is a senior growth company that yields 3% and sells for 20 times earnings. Its last quarter was one of the worst misses I have ever seen. Maybe it was a wake-up call. At least my interview with the CEO was most definitely a wake-up call. Can Laxman Narasimhan survive as CEO if he delivers an incredibly horrible quarter again? The board is united behind him and former CEO Howard Schultz is not a factor. There has to be an activist armed with a hefty position to oust him and I haven't seen that kind of telltale activity in the stock. Starbucks has a lot of whammies. There's the China problem. In 2023 it was only 10% of its business but Starbucks intended to put up thousands of stores to meet demand. But it is too expensive. And China is a disaster area. It is too expensive here, too, and the company has miserable throughput. Management keeps coming up with hard-to-make drinks that take forever and is clueless about it. In fact, management thinks it doing great and has a plan, a rather chimerical plan, to fix things. Plus, the sentiment worldwide about Starbucks is that it supports Israel because it is a Jewish company and therefore is an international pariah. The company has no plan for this. If it says Israel is in the wrong it alienates all who support Israel. If it says Israel is right, it alienates a pro-Palestinian faction worldwide. So it says nothing, hoping the whole issue dies down. The war has to die down for that to happen but it has shown no sign of waning. It's just become less noisy. Interestingly enough, the company has not done much to dismiss the charge that it is a Zionist-backing company. It is not a Zionist-backing company, it is not a "Jewish" company, although it did have a Jewish founder and CEO. But all of this is maddening. The company doesn't want to explain that it is not even in Israel and does not have any ties with the government. Is all of that "in" the price of the stock at $74? No. But a lot of it is. Laxman heard me and I think he's concerned and frantic, which I like. I don't know if he knows enough about food though to make things happen. Narasimhan worked at McKinsey for 19 years advising companies in this space. I won't hold that against him. He was at PepsiCo , where he did a good job, but he was also at Reckitt Benckiser, where I think he did just okay. No, I do not think that Schultz has the power to change anything at the company. I think the board, run by Mellody Hobson, loves the new CEO. None of this is good. But each one of these issues can be dealt with, and if the war in Gaza become less top of mind there can be a recovery at the stores hard hit by what amounts to an Arab boycott not unlike the boycott of Jewish businesses started in another country in 1933. Starbucks, Wynn and GE Healthcare are all good companies. They are all down on their luck and I'm down on their management. The one that is most likely to improve first would be GE Healthcare because management needs to tell a non-AI forward story about what can go right. They have no real credibility any more on AI. There's been no sign of them doing anything with it. Wynn could be a comer if it gets bought. Starbucks needs to put together a good quarter and it can go higher. But can it? Three problematic companies. Three that I would love to say that you can just buy tomorrow. But I sense that we will have to wait until the quarter to see. I want to know which one drops this week. As these go lower they don't necessarily get cheaper. But I believe we could look back and see that at least one of these was trading at its lows. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) 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. The Wynn Resorts logo stands illuminated as people sit by the fountain at the Wynn resort in Macao, China. Pual Yeung | Bloomberg | Getty Images
Trump's shooting puts scandal-plagued Secret Service under the biggest microscope yet 2024-07-14 19:15:45+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview The Secret Service has been at the center of scandals in recent years. Jaw-dropping breaches and embarrassing indiscretions ended the careers of some agents and led lawmakers to harangue top officials. But all of those episodes pale to what will happen after Saturday's assassination attempt on former President Donald Trump, a shocking breach that was an inch from utter disaster. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Trump was speaking at a rally in Pennsylvania when a gunman — later identified as a 20-year-old man from the area — opened fire at the former president. Advertisement Trump's ear was pierced by a bullet; a rallygoer near the president was killed before Secret Service agents shot and killed the would-be assassin. Trump, President Joe Biden, and scores of other leaders praised the Secret Service for its quick response. But already, it is becoming clear that the agency's task with keeping the president, former president, and other world leaders when they are in the US safe will face intense scrutiny. As closely scrutinized as the agency has been, nothing has prepared it for what is likely to come. Advertisement Biden himself said Sunday he's ordered an independent investigation into the rally shooting. And House Speaker Mike Johnson, the nation's most powerful Republican, quickly vowed that Congress would conduct a full investigation into what happened. Lawmakers and experts alike have been shocked how the shooter was able to get close enough to the rally site that it was within shooting range. "The seriousness of this security failure and chilling moment in our nation's history cannot be understated," House Homeland Security Committee Chairman Rep. Mark Green, a Tennessee Republican, said in a letter to Homeland Security Secretary Alejandro Mayorkas. "No assassination attempt has come so close to taking the life of a president or presidential candidate since President Reagan was shot in 1981." (The Secret Service is under the Homeland Security Department.) Advertisement The past scandals can also shed some light on some of the biggest issues plaguing the agency: shocking security lapses. US Secret Service agents stayed at this hotel in Cartagena, Colombia, when several agents were found to have solicited prostitutes ahead of then-President Barack Obama's visit. Manuel Pedraza/AFP/Getty Images Agents went wild while in Colombia for a presidential visit, including hiring prostitutes. What happened: In April 2012, several Secret Service agents preparing for President Obama's visit to Colombia as part of the Summit of the Americas hired prostitutes. The scandal rocked the agency to its core. President Obama, who repeatedly expressed his admiration for agents' bravery, said at the time he would be "angry" if the allegations were proved to be true. Related stories The aftermath: Of the 13 agents suspected of soliciting prostitutes, six resigned or retired, according to an inspector general's report released roughly a year after the incident. Advertisement Four more had their security clearances revoked. The inspector general found that although individuals engaged in misconduct, there was no evidence "misconduct is widespread in USSS." Journalist Carol D. Leonnig, who won a Pultizer Prize for her coverage of the Secret Service's scandals, later called into question the finding that Colombia episode was just a one-off incident. "And in fact, what agents told me in the wake of this series of investigations, what they told me was this happened all the time," Leonnig later told NPR. Secret Service Director Mark Sullivan, who retired not long after the scandal, testified to Congress that some of his agents "did some really dumb things." Advertisement A knife-wielding intruder makes it all the way into the East Room. What happened: In September 2014, Omar J. Gonzalez, who was carrying a knife, jumped the fence and got into the White House. President Barack Obama was not home at the time of the incident. Gonzalez only made it into the White House briefly, but his actions came on the heels of 16 separate fence-jumping incidents in the five years before his brazen act, according to The New York Times. The aftermath: Secret Service Director Julia Pierson was already embattled before the incident. In a separate scandal, an armed security contractor had gotten onto an elevator with Obama. The combined weight of the scandals led Pierson to resign. Two Secret Service agents, who had 'likely' been drinking, crashed a car on the White House grounds. What happened: In March 2015, two Secret Service agents crashed a car on the White House grounds while the complex was under a heightened security state to investigate a suspicious package. Both agents were high-ranking, including Marc Connolly, the Deputy Special Agent in charge of the Presidential Protective Division (PPD. Among Connolly's responsibilities was handling "all aspects of White House security." Advertisement Homeland Security Inspector General John Roth, a government watchdog, later concluded "it was more likely than not" that the agents' "judgment was impaired by alcohol." Roth's report found that the agents had attended a retirement party and run up quite the tab at a Washington, DC, bar before the incident. Neither of the agents alerted their supervisors of what happened. Both of the agents denied in their interviews with the inspector general that they had drank to excess. The aftermath: Connolly announced his retirement ahead of the release of the inspector general's report. George Ogilvie, the assistant special agent in charge of the agency's Washington field office, was placed on administrative leave, according to The Guardian. White House fencer jumper wanders the grounds for more than 15 minutes. What happened: In March 2017, Jonathan T. Tran scaled multiple fences and was able to approach the White House's south portico just before midnight. President Donald Trump was asleep inside the residence at the time. Tran also looked into windows. Secret Service later apprehended him. He had cans of mace on him. The aftermath: According to CNN, two Secret Service officers were fired after the incident. Tran had set off multiple alarms before he was discovered. A White House security review was also conducted. Before the breach, the Secret Service had already announced efforts to beef up the fence around the White House, including adding small spikes atop a six-foot fence, according to The Washington Post. Advertisement The Secret Service caught wind of threats before January 6. What happened: According to the House January 6 committee, the Secret Service was among the federal agencies that received warnings that the far-right Proud Boys and Oath Keepers were planning for potential violence on January 6, 2021, during the joint session of Congress that was responsible for formally counting the Electoral College votes for the 2020 presidential election. Agents were also praised for how they kept Vice President Mike Pence safe as rioters ransacked the Capitol. Pence declined to leave the Capitol complex, which his security detail advised him to do. The aftermath: After the deadly attack on the Capitol, the Secret Service was also criticized after lawmakers asked for text messages sent around the time of the riot — which the agency said had been deleted. The Secret Service denied any wrongdoing.
Big Tech CEOs, billionaires, and business leaders react to Trump rally shooting 2024-07-14 18:56:59+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Prominent tech CEOs and billionaires condemned the shooting at a Trump rally on Saturday, with some voicing their support for former President Donald Trump. At least two people, including the suspected shooter, were killed on Saturday after shots were fired at the rally in Butler, Pennsylvania, according to a statement from the Secret Service. Two other rally attendees were critically injured, the agency said. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. The shooting immediately drew reactions from top lawmakers, the Biden administration, and business leaders across the political spectrum. Here are some of their reactions: Advertisement Mark Cuban Billionaire Mark Cuban, who has voiced support for President Joe Biden for a second term, wrote on X in the hour of the shooting that he hoped "the former president is Ok and no one else was injured." "And let's hope they catch the idiot who did this. This is not the way," Cuban wrote. "And thank you to the Secret Service who put themselves in harms way to protect the former President." Elon Musk Tesla CEO Elon Musk, who has feuded with Cuban over hot-button political issues, chose the moment to announce his endorsement of Trump. Musk previously said he would avoid financially backing a 2024 candidate, but Bloomberg recently reported that he donated to a pro-Trump super PAC. "I fully endorse President Trump and hope for his rapid recovery," Musk wrote on X. Advertisement Mark Zuckerberg Mark Zuckerberg. Drew Angerer/Getty Images Meta CEO Mark Zuckerberg similarly said on Threads that he is praying for a "quick recovery for President Trump." Tim Cook Tim Cook. Justin Sullivan/Getty Apple CEO Tim Cook, who typically prefers to maintain some semblance of neutrality and diplomacy in US politics, condemned the shooting. Related stories "I pray for President Trump's rapid recovery. My thoughts are with him, the other victims and the Trump family. I strongly condemn this violence," he wrote on X. Jeff Bezos Jeff Bezos. EMMANUEL DUNAND In his first post on X in early nine months, Amazon founder Jeff Bezos wrote that Trump "showed tremendous grace and courage under literal fire tonight." Advertisement "So thankful for his safety and so sad for the victims and their families," Bezos wrote. Satya Nadella Satya Nadella. Microsoft Satya Nadella, Microsoft CEO, called the incident on X a "horrific event" and said "there is simply no place for any type of violence in our society." Sundar Pichai Sundar Pichai. Justin Sullivan/Getty Sundar Pichai, CEO of Google parent Alphabet, wrote on X that he wished the former president a "speedy recovery." He added that political violence is "intolerable" and that everyone should come together to oppose it. Sam Altman Sam Altman. Justin Sullivan via Getty Images In a brief statement on X, OpenAI CEO Sam Altman wrote: "very glad President Trump is safe!" Advertisement Andy Jassy Andy Jassy. Mike Blake/Reuters Andy Jassy, the CEO of Amazon, also expressed shock at the shooting, saying it was "hard to digest" and "awful." Marc Benioff Marc Benioff. FABRICE COFFRINI/ Getty Images Salesforce CEO Marc Benioff, who hasn't publicly endorsed a 2024 candidate but was optimistic about his company's prospects regardless of the election outcome, wrote on X that he wished a quick recovery for Trump and condemned "political violence." "A full and speedy recovery to President Trump. May his body be healed, his mind be soothed, and his soul be comforted. May he be blessed with strength and courage, and return to health soon. There is no room in our country for political violence," he wrote. Marc Andreessen Marc Andreessen, cofounder of the venture capital firm Andreessen Horowitz, posted a cryptic image of an American flag on X following the incident. He has yet to publicly endorse a 2024 candidate but has been critical of the Biden Administration. Advertisement Brian Chesky Brian Chesky. Kimberly White/Getty Images Airbnb CEO Brian Chesky said in a statement posted on X that he was "thankful President Trump wasn't seriously injured." Pat Gelsinger Pat Gelsinger. AP Photo/Noah Berger Intel CEO Pat Gelsinger wrote on X that the shooting had made for a "very difficult night for our nation." He said he was relieved to hear that the former president was "in good spirits" and denounced violence. Reid Hoffman Reid Hoffman. Kimberly White/Getty Images Reid Hoffman, cofounder of LinkedIn, wrote on X, "Assassination is not only categorically wrong, but is also the assassination of democracy." He wished the former president a quick recovery. He also criticized some of Trump's rhetoric, writing, "When he warns against consequences of him losing the election, he should not predict a 'bloodbath' in a way that might incite future protesters to violence against his political opponents." Advertisement Bill Ackman Bill Ackman. Adam Jeffery/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images Bill Ackman, the CEO of Pershing Square Capital Management, wrote on X hours after the shooting that he was endorsing Trump for president. Ackman said he would write a long post to explain his thinking. David Sacks David Sacks. Reuters The venture capitalist David Sacks reaffirmed his support for the former president, writing on X, "There's not a braver man in America than Donald Trump."
Mark Cuban is warning people to be careful of scammers and grifters on X after the Trump assassination attempt 2024-07-14 18:54:01+00:00 - Mark Cuban says scammers are out and trying their luck after the Trump rally shooting. Tragic events often make it easy for bad actors to "make things worse and grift," Cuban said. Cuban reposted a thread by AI startup founder Josh Olin, which listed several fundraising scams on X. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Billionaire "Shark Tank" investor Mark Cuban is warning people to be careful of scams and grifts in the wake of the shooting in Pennsylvania that saw former President Donald Trump wounded and one man killed. "I know some people may say it's not the right time to share this. But, I don't think anyone disagrees that there are a lot of bots and fake accounts on social media," Cuban wrote on X on Sunday. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .
Google reportedly in advanced talks to acquire cyber startup Wiz for $23 billion, its largest-ever deal 2024-07-14 18:28:00+00:00 - Sundar Pichai, CEO of Alphabet Inc., during Stanford's 2024 Business, Government, and Society forum in Stanford, California, April 3, 2024. Google is in advanced talks to acquire cybersecurity firm Wiz for $23 billion, The Wall Street Journal reported Sunday, citing people familiar with the matter. The people familiar told the Journal that a deal could come soon. Wiz was founded in 2020, and has grown at a rapid clip under CEO Assaf Rappaport. It had been eyeing an IPO as recently as May, when the company achieved a valuation of $12 billion. A representative for Wiz declined to comment. Wiz’s cloud security offering gives executives and cybersecurity professionals insight into the company’s full cloud presence, something appealing to large firms with significant computing resources. It is backed by a roster of blue chip firms, including Israeli VC firm Cyberstarts, Index Ventures, Insight Partners and Sequoia Capital. If completed, the deal would be Google’s largest ever acquisition. It would also underline a clear and continued bet on cybersecurity, at a time when nation state and criminal actors have managed to disrupt governments and large organizations. Google has made large cyber acquisitions before: The company acquired cybersecurity firm Mandiant for $5.4 billion two years ago. But the company now faces unprecedented levels of antitrust scrutiny. The Justice Department has sued Google twice on antitrust grounds. The company’s acquisition practices were highlighted in the most recent litigation, filed in 2023. But its reported talks with Wiz would suggest that the company has developed a fresh appetite for M&A, competitive concerns notwithstanding. Google had been in talks to acquire sales software maker Hubspot, CNBC previously reported, but its pursuit had reportedly cooled. Google did not immediately return a request for comment.
XPeng & QuantumScape Are Among Top 11 Mid Cap Stocks That Performed Well Last Week (July 7-July 13): Details - XPeng (NYSE:XPEV), QuantumScape (NYSE:QS) 2024-07-14 18:18:00+00:00 - Loading... Loading... These eleven mid-cap stocks were the best performers in the last week. Are they in your portfolio? QuantumScape Corporation QS stock jumped 64.34% after the company announced it entered into an agreement with Volkswagen's battery company PowerCo to industrialize solid-state batteries. Lantheus Holdings, Inc. LNTH shares rocketed 55.93% following a CMS proposal to improve payment for Specialized Diagnostic Radiopharmaceuticals. Sunrun Inc. RUN shares increased 37.59%. as shares of companies within the broader industrial sector gained following recent CPI data. Kymera Therapeutics, Inc. KYMR shares rose 37.38% after the company announced its intention to expand Phase 2 trials for Hidradenitis Suppurativa and Atopic Dermatitis to more rapidly progress towards pivotal studies following an interim review of safety and efficacy. Apogee Therapeutics, Inc. APGE shares upped 35.68%. Joby Aviation, Inc. JOBY stock was up 29.10% after the company announced it successfully flew a hydrogen-electric air taxi demonstrator 523 miles, with water as the only by-product. Crinetics Pharmaceuticals, Inc. CRNX shares grew 21.18% after JP Morgan raised its price target from $47 to $54. Dyne Therapeutics, Inc. DYN stock grew 19.75% after JP Morgan maintained an Overweight rating on the stock and raised its price target from $39 to $43. Summit Therapeutics Inc SMMT stock gained 17.24% in the last week. Plug Power Inc PLUG stock upped 16.51% as EV-related stocks gained following recent CPI Data. The Department of Energy also announced a $1.7 billion to convert 11 shuttered or at-risk auto facilities to manufacture electric vehicles and their supply chain. XPeng Inc. XPEV stock rose 15.56%. Shares of Chinese stocks gained following an increase in China's June exports. Also Read Photo Courtesy of QuantumScape
Paying the price of water companies’ failures | Letters 2024-07-14 18:05:00+00:00 - Nils Pratley’s article on the water industry in England and Wales provided a succinct summary of the sector’s history, and how it was brought down by investor greed and weak regulation (Cheap sales, debt and foreign takeovers: how privatisation changed the water industry, 10 July). The privatisation story, however, has two halves. The first was one of increased investment (after years of inadequate public funding), with improved operational and capital efficiency. Purposeful design headed off asset-stripping, while excessively entrepreneurial activities were constrained. The second half saw regulatory relaxation, weakened environmental enforcement, and infrastructure funds seeking better returns. Investors know that high returns can’t be sustainably delivered by low-risk businesses, but it didn’t stop new owners and lenders stepping in, leading to overborrowing. This is the heart of the issue, and a more proactive regulator might have headed this off – given that “whole company securitisation” was part of the private equity playbook by that time. Fortunately, Thames Water has plenty of funding to cover ongoing operating costs – but it may not be able to service its debt. This must be restructured to an affordable level, and financiers will have to bear the cost of their own greed or incompetence. Thereafter the company will be highly investable. Such a restructuring might best be negotiated without the need for receivership, nationalisation or special administration. Politically savvy financiers might welcome this. Yes, excess dividends may have been taken, but those are now gone – unless the companies acted illegally. However, like the billions lost to Covid misspending, HS2 and other government mistakes, we have to accept them – the difference being that these losses are recovered through highly visible water bills rather than opaquely through our taxes. Bill Kingdom Oxford As a former regulator – in water, rail and the ill-fated London Underground public-private partnership (PPP) – I understood that the first rule of regulation should be that customers should only pay once. But this still raises the question of the nature of the “regulatory contract”. In the PPP, it was decided (rightly or wrongly) that the infrastructure companies should be paid the efficient cost of delivering outputs, even if these costs were initially underestimated. For most regulated industries, including water, the contract is essentially a fixed-price one, subject to adjustment only for specified items such as changes in legal obligations. Companies can challenge the proposed contract by appealing to the Competition and Markets Authority. If they do not appeal, then they are accepting the contract and have to deliver the regulated outputs, whatever the cost. Failure to deliver in one five-year period does not mean that the previous contract can be renegotiated. Indeed, serious failings should lead to additional penalties. So Feargal Sharkey is right to challenge Ofwat’s draft decisions (Ofwat accused of showing ‘contempt’ to customers over water bill price rises, 11 July) if the regulator has effectively reopened the previous contract. That is an empirical question that careful examination of the draft determinations (and final determinations of the previous review) can answer. Chris Bolt Stratford-upon-Avon, Warwickshire
‘Despicable Me 4’ reigns at box office, while ‘Longlegs’ gets impressive start 2024-07-14 17:34:07+00:00 - Gru and the minions celebrated a second week in first place at the North American box office this weekend, while a small horror movie called “Longlegs” upset the starry $100 million “Fly Me to the Moon.” The supremacy of “ Despicable Me 4 ” was hardly a surprise, as the Universal and Illumination franchise added $44.7 million and pushed the film over $200 million, according to studio estimates Sunday. But the big upset came further down the charts with “ Longlegs ” more than doubling the debut of the Scarlett Johansson and Channing Tatum romantic comedy “ Fly Me to the Moon.” “Longlegs,” an original horror about a serial killer starring Maika Monroe and Nicolas Cage, made an estimated $22.6 million from 2,510 theaters. That’s the best ever start for indie outfit Neon (most famous for releasing the Oscar-winning “Parasite”), which acquired the $10 million film for distribution. Written and directed by Osgood Perkins, “Longlegs” also scored the best opening for an R-rated film this year. Neon deployed an innovative marketing strategy for the film, including touches like placing cipher messages in local newspapers and posting a Los Angeles billboard with a phone number that played an “unnerving” message. In its first 48 hours, the number received over 250,000 calls. “Longlegs” was well-received by critics (it has an 87% on Rotten Tomatoes), but audiences gave it a less enthusiastic a C+ CinemaScore. “Fly Me to the Moon,” an Apple Original Films production, launched with only $10 million over the weekend. It trailed holdovers “Inside Out 2,” in third with $20.8 million; and “A Quiet Place: Day One,” in fourth place with $11.8 million. Sony distributed “Fly Me to the Moon,” the Greg Berlanti-directed film about a marketing executive brought in to sell the space race to the American public, and, later, stage a fake moon landing just in case. Apple has not yet announced when it will debut on its streaming service. The movie opened in 3,356 locations this weekend, attracting an audience that was mostly over 45. In this case, the audience was kinder than the critics, giving it an A- CinemaScore against a 67% on Rotten Tomatoes, suggesting that word-of-mouth may work in its favor over the long run. The year-to-date gap between box office performance this year and last is getting moderately slimmer. It’s now down 16.1% from 2023 thanks to a run of recent successes. But performance still pales in comparison to pre-pandemic standards. On July 14 in 2019, the annual box office take was at $6.2 billion. This year it’s at $4.1 billion so far. “A very unpredictable summer movie season continues,” said Paul Dergarabedian, the senior media analyst for Comscore. “And after a slow start in May (it) has continued to surprise and impress with expected as well as unexpected hits adding bottom-line dollars to the industry’s most important season.” In limited release, A24 opened “ Sing Sing,” an early Oscar contender, in four theaters in New York and Los Angeles. With sellouts in both locations, it made $137,119, one of the best limited openings of the year. The film from director Greg Kwedar is about an arts program at the prison and features many real life participants, including Clarence Maclin in his film debut. “Sing Sing” will continue playing on four screens through July and expand nationwide in August. Finally, “Twisters,” which opens in North America on Thursday, began its international rollout this weekend, earning $11.5 million from 38 markets including in Australia, Mexico and Brazil. In its wake comes “Deadpool & Wolverine,” the first Marvel release of the summer. Estimated ticket sales are for Friday through Sunday at U.S. and Canadian theaters, according to Comscore. Final domestic figures will be released Monday. 1. “Despicable Me 4,” $44.7 million. 2. “Longlegs,” $22.6 million. 3. “Inside Out 2,” $20.8 million. 4. “A Quiet Place: Day One,” $11.8 million. 5. “Fly Me to the Moon,” $10 million. 6. “Bad Boys: Ride or Die,” $4.4 million. 7. “Horizon: An American Saga – Chapter 1,” $2.4 million. 8. “MaXXXine,” $2.1 million. 9. “Indian 2,” $2 million. 10. “Sound of Hope: The Story of Possum Trot,” $1.3 million.
What's New In the Consumer Tech World Last Week? News That You Should Know (July 7 - July 13) - Alphabet (NASDAQ:GOOG), Apple (NASDAQ:AAPL) 2024-07-14 17:32:00+00:00 - Loading... Loading... The Department of Justice announced that it had disrupted a Russian disinformation campaign backed by the Kremlin and managed by state-controlled media. China has emerged as the global frontrunner in the adoption of generative AI, according to a survey, conducted by SAS and Coleman Parkes Research. The survey, which included 1,600 decision-makers across various industries worldwide, found that 83% of Chinese respondents are using generative AI, reported Reuters. This figure significantly surpasses the global average of 54% and the 65% adoption rate in the U.S. The U.S. video game market has seen a significant drop in hardware spending, with a 40% decline compared to 2023, according to Circana’s May 2024 highlights. Gaming/Entertainment Microsoft Corp. MSFT has recently announced changes to its Xbox Game Pass subscription service, which will see significant price increases and the restructuring of its tiers. Also Read: Want To Buy Kindle During Amazon Prime Day 2024? Read This First Rocksteady Studios has announced a delay in the release of the second season of “Suicide Squad: Kill the Justice League,” just days before the new content was set to go live. Smartphones & Telecom Apple Inc. AAPL had a 20.8% increase in personal computer shipments for the second quarter, marking the largest growth among global PC manufacturers. In Apple’s latest iOS 18 beta 3 update, the tech giant has rolled out the “InSight” feature on Apple TV+ and dark mode icons. In a move to cut costs, Apple is said to be developing a new version of its Watch SE, which will incorporate a sturdy plastic casing instead of anodized aluminum. Apple’s highly anticipated Siri upgrade powered by new artificial intelligence technology will reportedly not be available, even in developer beta, until 2025. Read: Apple Poised For Revenue Boost: Analyst Sees Advertising As Key Growth Driver Apple has been directed by Russian internet and mass media watchdog Roskomnadzor to remove 25 VPN applications from its App Store. Apple’s upcoming smartphone series iPhone 16 could feature a significant upgrade in its charging capabilities, potentially allowing for a 40W power intake, a substantial increase from the current 20W. In a bid to expand their businesses, Japanese telecommunications giants Nippon Telegraph NPPXF and KDDI Corp. KDDIY plan to build high-speed wireless networks in the stratosphere to link the Earth and the moon. Samsung Electronics Co SSNLF kicked off its smartphone and artificial intelligence (AI) integration by unveiling a new phone line with Alphabet Inc.’s GOOG. Workers at Samsung have announced an indefinite strike, escalating an ongoing pay dispute and posing a threat to global tech production. Technology Microsoft has reportedly instructed its employees in China to use Apple iPhones for work, effectively banning Android-powered devices. Also Read: Jeff Bezos Described His Unique Life Philosophy Which Follows A Dorky Framework Revolving’ Regret Minimization’ Alphabet’s Google announced that it is upgrading the heart health monitoring features of Fitbit, making it easier for medical professionals to access and analyze user data. Apple and Google have collaborated to introduce a new tool that enables users to directly transfer their photos from Google Photos to iCloud, without manually downloading and reuploading them to Apple’s cloud platform. Tech YouTuber Marques Brownlee, popularly known as MKBHD, reviewed the CMF Phone 1 by Nothing, a budget sub-brand that is making waves in the $200 Android phone market. Elon Musk Tesla and SpaceX CEO Elon Musk confirmed that private messages on X, formerly Twitter, are not encrypted by default after taking a jab at Meta Platforms Inc.’s META WhatsApp, branding it as “spyware.” Elon Musk’s X Corp., formerly known as Twitter, and the billionaire himself successfully defended a lawsuit seeking $500 million in severance pay for thousands of employees laid off after the acquisition of social media company in 2022. Also Read: Linda Yaccarino Feels The Heat As Elon Musk Builds Pressure Amid X’s Plummeting Ad Revenue: Report Artificial Intelligence (AI) Amid mounting regulatory scrutiny, Microsoft has decided to relinquish its board observer position at OpenAI. iFlytek, a prominent AI technology firm in China, predicts a loss of nearly $65 million for the first half of 2024 due to heavy investments amid mounting pressure from the United States. In recent developments, Index Ventures successfully amassed over $2 billion to leverage the latest breakthroughs in AI. OpenAI is partnering with Los Alamos National Laboratory, known for developing the world’s first atomic bomb, to evaluate the possibilities and risks associated with using artificial intelligence in scientific research. A former safety employee at Microsoft-backed OpenAI has voiced concerns over the company’s approach to Artificial General Intelligence (AGI), drawing parallels with the ill-fated Titanic. Also Read: Meta’s Top Executive Reveals Three Reasons Why VR Headsets Are Failing To Take Off: ‘New Technologies Don’t Just Come Into The World Ready To Go’ Photo: Shutterstock
Thames Water owner to liquidate solar energy subsidiary amid debt crisis 2024-07-14 17:31:00+00:00 - A solar energy project developer linked to Thames Water is to be liquidated and its staff made redundant as the crisis engulfing the debt-laden water supplier puts strain on its complex corporate structure. Trinzic Operations Ltd, which is ultimately owned by Thames’s parent company Kemble Water Holdings, is to be voluntarily shut down, the Guardian can reveal. Sources said Trinzic, which is based in London, is subject to a members’ voluntary liquidation – when a solvent company is shut down – and Kemble is attempting to recoup more than £25m from the business. A filing with the Insolvency Service shows that 37 employees will be made redundant at the company, which was set up to develop floating solar projects on Thames sites to boost the company’s renewable energy generation. The job losses start at the end of the month. Some employees may be given roles at Thames. It is understood Thames told Trinzic it did not plan to transfer any assets to Trinzic or enter any further commercial arrangements with it after a U-turn by investors on £500m of pledged funding in March. Despite efforts to find further investment, Trinzic will now be wound down. A source close to Thames said that Kemble was “urgently” attempting to recover funds from Trinzic, as consultants at Alvarez & Marsal work with Kemble to assess its options. It is unclear whether, after the cash needed for restructuring is spent, any funds recovered from Trinzic will be distributed to external shareholders. Senior executives at Trinzic are understood to be in line for large payouts – in excess of 12 months’ salary. The majority of staff are expected to leave with redundancy payments worth at least three months’ pay. Thames Water is laden with £15.2bn of debt and said last week that it only has sufficient funding to run its operations until June next year. If it collapses, it is expected to be temporarily nationalised. Regulator Ofwat has put Thames into a form of special measures. The Guardian revealed in April that a development company that sells off land no longer needed by Thames, Kennet Properties, paid out a £14.5m dividend in the year to 31 March 2023 despite the difficulties faced by the wider group. At the time, sources close to Kemble said the Kennet dividend had ultimately reached Trinzic. In Thames’s complex structure, both companies sit outside the ringfenced operating company, which is regulated by Ofwat. The transfer of funds between the group’s web of companies have been under the spotlight as Thames struggles and the legacy of previous owners, who extracted huge dividends over a number of years, is examined. Ofwat is studying two sets of dividends, of £37.5m and £158m, approved in October and March. Trinzic was set up as Thames Water Ventures in 2021 under the stewardship of Tony Vasishta, a former executive at the telecoms company Liberty Global where he ran its real estate arm. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion The aim was to develop land no longer needed by the household water supplier to build projects generating solar power, storing energy and harnessing heat from the waste network to provide clean energy. The electricity generated would be sold back to Thames – a significant energy user with a £220m energy bill – at an agreed rate, cutting its costs and carbon emissions in the process. However, documents seen by the Guardian from April show that Thames believed Trinzic’s progress is “significantly behind” its original forecast. The venture was supposed to produce nearly 4,000 megawatt hours of electricity by June 2024, but it was on track to produce less than 1,000MWh by that point, the document said. Thames had already scrapped a target to hit net zero by 2030. An initial seven project sites were due to be transferred between 2020 and 2025, funded by the regulated Thames Water Utilities Ltd “with a view to sell to Trinzic upon completion”, documents said. However, they said that a contractor had “raised concerns about TW’s financial position”, causing delays. Delays were expected to sites in Little Marlow, Iver South and Swindon, it said. Sources said that executives at Thames and Trinzic had struggled to find a commercial model which benefited both parties, with Thames concerned it was taking on too much risk as they attempted to agree a 25-year power deal. Kemble declined to comment.
Why the current job market has been such a bad match for the college degree and recent grads 2024-07-14 16:20:00+00:00 - Graduates listen as actor Sean Astin delivers the keynote speech during the commencement ceremony for the College of Arts and Sciences at UCLA's Pauley Pavilion on June 14, 2024. When Jenny Flora Wells graduated from Ohio State University in 2021 with her master's degree in social work, she applied for 400 jobs. From that crop, she landed three interviews. "I was told an MSW was a golden ticket and that I would be sure to find a job. I did everything by the book, had a 4.0 GPA, worked with career services, and quadrupled-checked my resume. I did everything by the book, and I still couldn't land a job," said Wells. Wells now helps other recent grads traumatized by their job search. She is a licensed social worker who practices in Los Angeles. While searching for a job, Wells landed an internship in OSU's career services department, which helped her build a specialty in the niche field of counseling job seekers. "What we are seeing from these younger generations is that they are working harder than ever but have nothing to show for it because no one will give them a job," Wells said. What Wells experienced personally and now sees professionally – grads confounded and mentally exhausted by the unforgiving job market — is confirmed by labor analysts and academics. A new bifurcation in strong labor market "What we are experiencing now is a bit of a bifurcation of the labor market. The roles that need filling are often very heavily skewed towards those with less than a bachelor's degree," said Rachel Sederberg, senior economist and research manager at labor analytics firm Lightcast. "We are hearing this from students, but also seeing labor market data backing it up," said Sederberg, who is also an adjunct economics professor at Stonehill College, and added that she sees student frustration first-hand. For instance, Lightcast's data shows that job postings for bachelor's degree holders with two years or less of experience from Jan-May '23 to Jan-May '24 saw little difference in top occupations, industries, and skills demanded. However, there were 148,500 fewer job postings in that period for '24 than in '23. For jobs that don't require a degree, openings are up slightly from last year, from 65.75% of postings in 2023 to 65.98% so far in 2024. However, according to Lightcast's data, 8 of the top 10 job postings in March were ones that did not require a college degree. "For jobs that don't require a degree, we don't have enough workers by any stretch, and they are having a great experience trying to find jobs," Sederberg says, adding that there is strong demand in the trades, retail, hospitality, and leisure. "That is partly because we have gotten back to our lives after four years of Covid, and we see a lot of the baby boomer generation aging out of the workforce, leaving a lot of openings. The average age of those in the major trades is quite high, and we need to backfill; we can't go without plumbers, for instance," Sederberg said. Not a degree job crash, an applicant mismatch Part of what Sederberg says we are seeing is a job market simply coming back down to earth for grads, but hardly crashing. "We are by no means in a weak labor market; we got used to the incredible strength and chaos of the last two years," Sederberg said. She noted that there were juniors in college who had already snagged a job pending completion of their degree because so many companies ramped up hiring during the pandemic's immediate aftermath. Not only is there a bifurcation between those who hold degrees and those who don't, but there also is a similar gulf in the degree skills market, with some jobs drawing scores of applicants while others sit unfilled, making the competition for the jobs recent grads want even more intense. That's a dynamic that Cindy Meis, director of undergraduate career services at the Tippie College of Business at the University of Iowa, says she is seeing as well in what she described as a fragmented and uneven job market. There are a record number of job postings on platforms her office uses to help grads connect with prospective employers, like Handshake, but the numbers don't tell the whole story. "The jobs out there don't always align with the wants and needs of the candidates. There is a mismatch between the needs and the talent pool," Meis said. That means some jobs get an avalanche of applications while other application inboxes remain empty. There are plenty of applicants for marketing jobs, "but accounting degrees? We can't produce them fast enough," Meis said. She added that most recent graduates have different experiences they are trying to get out of work than their slightly older counterparts. The newly graduated want to return to the office, while older workers are more open to maintaining pandemic-era home office work. Don't over rely on college as difference maker "Employers are keenly aware that nontraditional pathways to the workforce, not just college degrees, provide people with the skills and experiences to qualify for many jobs," said Christina Schelling, Verizon's Chief Talent and Diversity Officer, who oversees the talent pipeline entering the company. Schelling says the 2024 job market for grads is strong, but focusing too much on degree attainment alone is a mistake. Approximately 99% of Verizon's over 100,000 jobs do not require a college degree. She added that soft skills — like collaboration, critical thinking, and empathy — are more important than ever. "It's easier to teach someone a technical skill than how to be resilient and find creative solutions to problems," Schelling said. "That's why, in interviews, candidates must highlight their appetite for continuous growth and intellectual curiosity. Large companies, now more than ever, are investing in employees and are committed to building skills." Some labor market experts see burdensome application requirements among the undercurrents roiling an already difficult job market for grads. "The hiring process is broken," said Justin Marcus, co-founder and CEO of Big 4 Talent, which matches college graduates with some of the hardest-to-fill positions in finance and accounting. Marcus says that new grads don't have the patience or time to laboriously go through some of the increased hoops required to work with applicant tracking systems that require uploading a resume and manually filling out questions. Marcus also says everyone – employers and grads – is pickier. Companies are pickier and require experience for even "entry level" roles. "It certainly depends on the vertical, but a lot of 'white collar' jobs are raising their requirements due to an abundance of applicants," Marcus said. In the end, he says a grad's job market's prospects will vary depending on where they are, what they are applying for, and what they want. A single unemployment number isn't telling the same story anymore. "Unemployment trends are very sector, geographical, and level-specific," Marcus said. Meanwhile, Wells, finds a lot of mental health angst among her clients, who expected a glide path to prosperity after obtaining their degrees. "Everybody told you that if you go to college, get your masters, niche out, you will succeed and you can have a comfortable life and live the American Dream, but what I am finding is it is much more complex than that," Wells said. "In 2024, the job market is drastically changing."
TV Icon Shannen Doherty Loses Battle With Cancer At 53 2024-07-14 15:28:00+00:00 - Loading... Loading... Shannen Doherty, the renowned actress celebrated for her role in the popular series “Beverly Hills, 90210,” has passed away at 53 after a prolonged fight with breast cancer. What Happened: AP News reported on Sunday that Doherty died on Saturday, July 13, 2024. Leslie Sloane, her publicist, confirmed the news, stating, “The devoted daughter, sister, aunt and friend was surrounded by her loved ones as well as her dog, Bowie. The family asks for their privacy at this time so they can grieve in peace.” Doherty’s struggle with cancer became public knowledge in 2015 when she sued her former business managers, alleging they mishandled her finances and let her health insurance lapse. In February 2020, she announced that the cancer had returned and she was at stage four. Doherty, originally from Memphis, Tennessee, relocated to Los Angeles at age 7 and embarked on her acting career shortly thereafter. She gained widespread recognition for her portrayal of Brenda Walsh in “Beverly Hills, 90210′. Despite facing intense media scrutiny and personal issues, Doherty remained active in the industry, featuring in series like ‘Charmed’ and the ‘90210’ sequel series. Throughout her cancer journey, Doherty was candid about the physical and emotional impact it had on her, often sharing personal aspects of her treatment and advocating for cancer awareness and care. Why It Matters: Doherty’s passing is a significant loss to the entertainment industry. Her openness about her battle with cancer brought much-needed attention to the disease, and her advocacy work has made a substantial impact in raising awareness and promoting care for those affected. Her legacy will continue to inspire and influence both her fans and fellow actors in the industry. Read Next: Renowned Fitness Guru Richard Simmons Dies At 76 This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Shutterstock
Trump Sustains Ear Injury From Gunshot, Biden's Verbal Missteps, Janet Yellen Accused Of Manipulating Treasury Debt Auctions And More: Top Political Updates (UPDATED) 2024-07-14 15:03:00+00:00 - Loading... Loading... Editor’s Note: The story has been updated to include recent news about the shooting incident at Trump’s rally. This week was brimming with political news, from gunshots fired at former President Donald Trump‘s rally to President Joe Biden‘s verbal missteps. The political landscape was further stirred by allegations against U.S. Treasury Secretary Janet Yellen and Melania Trump‘s rare appearance at the Republican convention. Let’s dive into the details. Trump Shot In Ear At Election Rally Former President Donald Trump was abruptly escorted off stage during a rally in Pennsylvania on Saturday. The incident was triggered by loud noises that resembled gunshots. The shooter is dead and one rally attendee was killed. Trump’s spokesperson said the ex-president is in good health and is currently undergoing examination at a local medical facility. Read the full article here. Biden’s Verbal Missteps President Joe Biden’s recent verbal slip-ups have sparked ridicule and concern in Russia. During the NATO summit, Biden mistakenly introduced the Ukrainian leader as “President Putin,” before swiftly correcting himself. His confusion of names between Donald Trump and Vice President Kamala Harris also received extensive coverage in Russian media. Read the full article here. See Also: EXCLUSIVE: As Lucid Gears Up To Take On Tesla’s Model X, Analysts Lay Out The Problems With Luxury EV Sta Janet Yellen Accused of Manipulating Treasury Debt Auctions U.S. Treasury Secretary Janet Yellen is facing accusations from Republican lawmakers of manipulating Treasury debt auctions to stimulate the economy and enhance President Biden’s image. Sen. Bill Hagerty (R-Tenn.) reiterated the charge, alleging that Yellen was artificially stimulating markets ahead of the election. Read the full article here. Melania Trump to Attend Republican Convention Former First Lady Melania Trump is reportedly set to make a rare appearance at the upcoming Republican convention. While her husband, former President Donald Trump, will accept the party’s nomination, it remains unclear whether Melania Trump will deliver any remarks at the event. Read the full article here. Elon Musk Comments on Biden’s Age Tech mogul Elon Musk made a subtle comment addressing the ongoing debate about President Biden’s age and fitness for office. Musk posted, “Our brains shrink over time as we age,” hinting at concerns about Biden’s cognitive abilities. Read the full article here. Image Credit: Shutterstock This story was generated using Benzinga Neuro and edited by Navdeep Yadav.