The big selloff of chip stocks was a bit excessive — at least that’s what Jefferies and Bank of America analysts think. “We believe the Bloomberg story on potential China restrictions is unsubstantiated and the market reaction is overdone,” Jefferies analyst Janardan Menon wrote in a research note Thursday. He’s referring to the hits taken by TSMC, Nvidia, ASML, Tokyo Electron, Arm, and Applied Material shares directly following reports of tough-on-trade sentiments from the Biden administration and comments on Taiwan from former President and Republican nominee Donald Trump.

The massive chip stock selloff was an overreaction, analysts say

The Dow Jones Industrial Average fell over 370 points on Friday afternoon as one of the biggest global tech outages ever affected the travel, finance, and healthcare industries. Shares of cybersecurity firm CrowdStrike fell almost 11%, while Intel stock dropped more than 5%. Suggested Reading. In the afternoon, the Dow...

The Dow drops 370 points as the CrowdStrike global tech outage hammers stocks

While cybersecurity firm CrowdStrike is seeing its shares plunge amid a global tech outage caused by a regular software update, its rivals are seeing their shares rise. The Austin, Texas-based firm’s stock was down around 9.1% during mid-day trading on Friday after being down 9% at the market open and down over 12% in pre-market trading. Microsoft, which reported issues with its Azure cloud service and its Windows operating systems due to the outage, also saw its shares fall around 0.4% during mid-day trading.

CrowdStrike's rivals are getting a stock boost from the massive global tech outage

Despite causing a major tech outage that impacted businesses and airports around the world Friday morning, cybersecurity firm “CrowdStrike remains the gold standard,” Wedbush analysts wrote in a note on Friday. Suggested Reading. A defect in a regular software update to the firm’s malware protection software Thursday night...

'CrowdStrike remains the gold standard,' analysts say after massive global tech outage

Capital One has pledged to give $265 billion in lending, investment, and philanthropy over the next five years, if its acquisition of Discover Financial Services goes through. The two financial services giants announced their $35.3 billion merger agreement in February, which, if approved, would create the largest credit card company in the U.S. by loan volume and the sixth-largest bank by assets. The deal also gives Capital One control of and access to revenue generated by Discover’s payment network of 70 million merchant acceptance points worldwide.

Capital One has a $265 billion plan to get its Discover deal

New York City, NY

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Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

North Carolina State

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Town Talks

Death Disclosure Laws and Property Disclosures in North Carolina. In North Carolina, there is no legal obligation for homeowners or real estate agents to disclose if a death has occurred in a home, whether by natural causes, murder, or suicide. However, if a potential buyer directly inquires about any deaths on the property, the seller is required to provide that information.

If someone dies at your house do you have to tell a potential buyer? What North Carolina law says

West Virginia State

Ohio State

Another summer classic has been hit with a recall. Nearly 7,000 pounds of hot dogs were recalled after it was discovered that they were produced without federal inspection, the U.S. Department of Agriculture (USDA) said on Monday. Suggested Reading. This comes just weeks after the Food and Drug Administration (FDA)...

The USDA recalled 7,000 pounds of hot dogs

Broward County, FL

Margate, FL

Edmond Thorne

MARGATE, FL. - A sophisticated lottery scam targeting vulnerable seniors across the United States has been uncovered, with a Margate man at its center. The elaborate scheme defrauded victims of approximately $9.5 million, leaving a trail of financial and emotional devastation in its wake.

Broward Man Arrested by Feds in $9.5 Million Lottery Scam: Targets Seniors Nationwide.

Washington State

A key group of Boeing workers said they’d be willing to walk off the job if union negotiations don’t go their way. Members of International Association of Machinists and Aerospace Workers District 751, which represents Washington state employees for the troubled planemaker, nearly unanimously approved a vote that could set up a strike later this year. The ballot passed 99.9%.

Boeing could have a huge strike on its hands

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Hamilton Township, NJ

NewsByJoshua

Rainbow Shops, a popular clothier known for its youth clothing, is preparing to shut down its location at the Hamilton Mall in Hamilton Township, New Jersey. The store is currently offering a hefty 40% discount on all items as part of its liquidation sale.

Popular Clothing Store Offers Offers Deep Discounts, Closing 950 Locations in Struggling Mall

Indiana State

Franklin, IN

A wave of closures is hitting Pizza Hut, a pizza chain known for its iconic slanted-roof buildings, with 6,775 locations feeling the pinch in the tough restaurant industry landscape.

A well-known pizza chain with over 6K locations has begun closing some of its stores

ANDY MILLS (AM): Trump has picked J.D. Vance as his VP choice and Vance has paired with [Elizabeth] Warren on some Wall Street legislation that has kind of reined them in in the past. Do you see this as a positive or negative for investors?. RICK PITCAIRN (RP): I’m not...

J.D. Vance as Donald Trump's VP pick is a problem for Wall Street, strategist says

California State

The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

When Donald Trump first ran for president in 2016, Silicon Valley seemed to widely oppose his candidacy. Fast-forward to 2024, and elites in the region are publicly backing him in droves — but why? According to Mark Cuban, it’s all about cryptocurrency. Suggested Reading. “It’s a bitcoin play,”...

Mark Cuban says Silicon Valley is backing Trump because he would make their Bitcoin worth more

OpenAI introduced a smaller, more cost-efficient version of its most powerful model GPT-4o — and it could mean even more AI-powered apps. The new model, GPT-4o mini, is smarter and more than 60% cheaper than GPT-3.5 Turbo, according to OpenAI, meaning it is more affordable for developers building applications on OpenAI’s models. GPT-4o mini is priced at 15 cents per 1 million input tokens — or the unit of information an AI model uses, for example, a word or phrase — and 60 cents per 1 million output tokens. That is equivalent to 2,500 pages in a book, OpenAI said.

OpenAI has a smaller, cheaper version of its most powerful ChatGPT

Computer systems at businesses around the world failed after cybersecurity firm CrowdStrike bungled an update and Microsoft reported issues with its Azure cloud service. “CrowdStrike is actively working with customers impacted by a defect found in a single content update for Windows hosts,” Crowdstrike CEO George Kurtz wrote on X Friday morning. “This is not a security incident or cyberattack.”

A massive global tech outage has grounded flights and disrupted banks

Air travel in the U.S. is a busy business, one that sees 45,000 flights serving 2.9 million each day, according to the Federal Aviation Administration. Our frenzied skies got a little calmer early Friday morning however, as the CrowdStrike software outage impacted United, Delta and American Airlines — the three largest airlines in the U.S.

The CrowdStrike tech outage brought air traffic to a halt. Watch the planes disappear in real time

Your payday might be delayed thanks to the global CrowdStrike outage. The Global Payroll Association (GPA) warned Friday that millions of workers around the world “risk going without their wages” because their employers or banks rely on CrowdStrike. Suggested Reading. Austin-based CrowdStrike issued an update late Thursday to...

The CrowdStrike tech outage could mean a missed payday for millions

NewsBreak

Defunct crypto exchange Mt. Gox is about to return $9 billion worth of Bitcoin — and Bitcoin is nervous

Mt. Gox is returning more than 140,000 Bitcoin to victims of a 2014 hack. A cryptocurrency exchange that went bankrupt a decade ago due to a...

Defunct crypto exchange Mt. Gox is about to return $9 billion worth of Bitcoin — and Bitcoin is nervous

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