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GameStop leads meme stock rally in pandemic trade comeback

Published Fri, 01 Nov 2024 23:20:09 GMT

Meme stocks jumped Wednesday after GameStop, one of the most heavily traded off-brand stocks during the pandemic, posted a surprise profit for the fourth quarter, its first quarterly profit in two years. Rather than a per-share loss of 16 cents as Wall Street had expected, the video game retailer reported a profit of 16 cents per share, or $48.2 million in all. GameStop’s revenue fell and much of the profit gain came from aggressive cost cutting, including store closures and layoffs. However, as was the case during the pandemic, fundamentals that typically drive stock movement appear to be being pushed aside. Shares of GameStop Corp., Grapevine, Texas, surged 51% at the opening bell and it pulled other meme stocks along for the ride. During the pandemic, GameStop was a member of a group of beat-down stocks that drew smaller investors in huge numbers. The theory was that if enough small investors got in the game and drove the stock higher, it would force large hedge funds with ...

From Cheerios to Haagen-Dazs: Nestle vows to make foods, drinks healthier

Published Fri, 01 Nov 2024 23:20:09 GMT

It’s convenient to reach into your pantry, but the world’s largest food and beverage maker says less than half of its products can be considered healthy.Nestle said that, according to the results of an international nutrient profiling system, most of the foods and drinks they make were rated as unhealthy.Nestle’s popular products range from Cheerios and Shredded Wheat breakfast cereals, to lunchbox and workplace staples Lean Cuisine and Hot Pockets. Not to mention instant coffee, Haagen-Dazs ice cream and Nesquik chocolate power, syrup, and ready-to-drink products.And, of course, treats including Nestle Crunch bars and KitKat bars.More Business and Finance NewsMore Lifestyle NewsIn its 2022 annual report, Nestle said it is the first company to use the international Health Star Rating system to evaluate its entire portfolio of foods and drink products. The system assigns ratings from a low of half-a-star up to five stars, and provides guidance on foods which should ...

Wall Street holds steady ahead of Fed decision on rates

Published Fri, 01 Nov 2024 23:20:09 GMT

NEW YORK (AP) — Stocks are holding steady as Wall Street bides its time until the Federal Reserve announces whether it will tighten the screws further on the economy. The S&P 500 was 0.1% lower early Wednesday. It’s coming off its first back-to-back gain in two weeks, before the second- and third-largest U.S. bank failures in history threw the industry into turmoil. A few weeks ago, much of Wall Street was convinced the Fed would pick up the pace on its hikes to interest rates given how stubbornly high inflation has remained. With banks straining under higher rates, that’s not as certain anymore. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street quietly drifted between small gains and losses early Wednesday ahead of a closely-watched decision by the Federal Reserve on whether to raise interest rates in the midst of a global banking crisis.Futures for the Dow Jones Industrials inched less than 0.1% higher, while futures for the S&P 500 were essentia...

Suspect at large after attempting to run over deputy, patrol cars

Published Fri, 01 Nov 2024 23:20:09 GMT

JEFFERSON COUNTY, Colo. (KDVR) — Deputies are investigating an officer-involved shooting after a suspect allegedly rammed into patrol cars and got away. According to the Jefferson County Sheriff's Office, multiple deputies are in the area of West Bowles Avenue and South Chase Street in Columbine. The area is just south of Marston Lake. JCSO said a deputy who was on foot fired at a tan Lincoln Navigator as the car drove directly toward the deputy. The suspect also allegedly rammed into other patrol cars several times before fleeing the scene. Pueblo mom shot twice, survived attempted carjacking Thankfully, no injuries were reported.Deputies said the suspect is still at large. They believe the Lincoln Navigator has heavy passenger-side damage. The suspect in the car is described as a white or Hispanic man.The suspect was last seen traveling north on Chase Street toward Grant Ranch.Deputies are still searching the area for the suspect. JCSO is asking everyone to avoid the area as dep...

‘Don’t Say Gay’ lawmaker pleads guilty to COVID relief fraud

Published Fri, 01 Nov 2024 23:20:09 GMT

GAINESVILLE, Fla. (AP) — The former Florida lawmaker who sponsored the controversial law critics call “Don’t Say Gay” pleaded guilty Tuesday to committing $150,000 in COVID-19 relief fraud.Joseph Harding, a 35-year-old Republican, pleaded guilty in Gainesville federal court to wire fraud, money laundering, and making false statements in connection with COVID-19 relief fraud, according to court records. He faces up to 35 years in prison at a hearing scheduled for July 25.Harding resigned from the Florida House in December, a day after federal prosecutors announced his indictment.According to court documents, Harding made false statements to the Small Business Administration while applying for an Economic Injury Disaster Loan for one of his dormant business entities. After obtaining $150,000 in COVID-19 relief funds, prosecutors said Harding conducted three monetary transactions, each involving more than $10,000 in fraudulently obtained funds: a transfer to his joint bank account, a p...

Video shows Sarasota Police officer getting hit by speeding car

Published Fri, 01 Nov 2024 23:20:09 GMT

SARASOTA, Fla. (WSVN) — A Sarasota Police officer is recovering after being hit by a car on Monday night. The incident, which was caught on camera, shows the officer flipping over the car upon impact. Police officers were staging a roadblock to stop a suspected burglar when the suspect hit the officer head-on. The police responded to Mourning Dove Drive around 3 p.m. for reports of stolen personal items from a car. Later in the day, security footage captured the white Mercedes flying down Bird Key, swerving the parked patrol car, and hitting the officer, flipping him over the vehicle. The officer was rushed to Sarasota Memorial Hospital, where he was later discharged and is expected to make a full recovery.Chief Rex Troche commented on the incident the following day in a press conference. “When we watched the video this morning in our command staff meeting, it was horrific. It was terrible,” he said. “This person needs to be put in jail for what he did. He co...

Warming Breeze Rest of this Week

Published Fri, 01 Nov 2024 23:20:09 GMT

A gradual warmup continues across South Florida this weekend. Following widespread lows in the 50s Monday morning, lows this morning were near normal in the 60s to low 70s, which is closer to slightly above average. Above average temperatures will be the story the remainder of this week and into this weekend with highs in the upper 80s in spots by weeksend.This Wednesday, expect generally bright and sunny skies with a easterly breeze that will remain strong along the coast. That will make for a high risk for rip currents at east coast beaches. High temperatures will be in the low 80s.Temperatures will hold steady in the low 80s on Thursday, then the mid 80s on Friday as the wind flow veers more out of the southeast around a dominant area of high pressure over the Atlantic. Conditions remain dry with a good deal of sunshine.By the weekend, a weak front will reach northern Florida, causing winds to flow more out of the south. This will drive temperatures up further and will introduce ...

Spanish government defeats no-confidence vote brought by far right

Published Fri, 01 Nov 2024 23:20:09 GMT

Spain’s parliament on Wednesday rejected by a wide margin a no-confidence vote in the government of Prime Minister Pedro Sánchez put forward by the far-right Vox party.Vox’s motion was based on a host of accusations against the government — led by Sánchez’s Spanish Socialist Workers’ Party (PSOE) — including its handling of new legislation on sexual consent and plans to overhaul the sedition law that was used to prosecute Catalan leaders associated with the failed independence referendum. The far-right’s vote wasn’t expected to pick up much support, and that proved to be the case, with Vox’s 52 lawmakers joined by just one from the center-right Ciudadanos in supporting the motion. There were 201 votes against, with 91 abstentions (most of which were from the main opposition Popular Party or PP).Vox’s suggested candidate to replace Sánchez as PM had the motion been successful was Ramón Tamames, an 89-year-old economist and for...

MPs pass key part of Rishi Sunak’s Northern Ireland Brexit deal

Published Fri, 01 Nov 2024 23:20:09 GMT

LONDON — A key part of Rishi Sunak’s Northern Ireland Brexit deal has sailed through the House of Commons despite a Conservative rebellion.The House of Commons voted 515 to 29 in favor of the plan, after the opposition Labour, Scottish National Party and Liberal Democrats also voted to support the so-called Stormont Brake — a part of the U.K.-EU Windsor Framework that aims to fix issues with the post-Brexit Northern Ireland protocol.The Stormont Brake is a intended to allow the currently-deadlocked Northern Ireland Assembly to object to new EU regulations set to apply in the region — a key concern for Northern Irish unionists who do not want to be separated further from the rest of the U.K.However, the eight MPs from Northern Ireland’s Democratic Unionist Party (DUP) voted against the brake Wednesday and are maintaining their opposition to Sunak’s wider deal — known as the Windsor Framework — for now.Ex-prime ministers Boris Johnson and Liz Truss also refused to back Sun...

Boris Johnson: I did not lie to the House of Commons over Partygate

Published Fri, 01 Nov 2024 23:20:09 GMT

LONDON — Boris Johnson denied lying to the House of Commons over the Partygate scandal as a marathon grilling on the former prime minister’s conduct got underway Wednesday.The cross-party privileges committee, chaired by Labour grandee Harriet Harman, is examining whether the ex-prime minister knowingly misled parliament about COVID rule-breaking parties in Downing Street when he made statements about the gatherings — later the subject of police fines — to the House of Commons.After swearing an oath on the King James Bible at the start of an expected four-hour session, Johnson told the committee: “I am here to say to you, hand on heart, that I did not lie to the house.”And he added: “When those statements were made they were made in good faith and on the basis of what I knew and believed at the time.”The privileges committee has said Johnson — who could face a temporary Commons ban or be forced to apologize to MPs — may have misled the House multiple times with a s...