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  • Twitter under Musk? Most of the plans are a mystery

    Twitter under Musk? Most of the plans are a mystery

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    SAN FRANCISCO — A super app called X? A bot-free free speech haven? These are some of Elon Musk’s mysterious plans for Twitter, now that he may be buying the company after all.

    After months of squabbling over the fate of their bombshell $44 billion deal, the billionaire and the bird app are essentially back to square one — if a bit worse for wear as trust and goodwill has seemed to erode on both sides.

    Musk, the CEO of Tesla Motors and SpaceX and Twitter’s most high-profile user since former President Donald Trump was booted from it, has shared few concrete details about his plans for the social media platform. While he’s touted free speech and derided spam bots since agreeing to buy the company in April, what he actually wants to do about either is shrouded in mystery.

    He could own one of the world’s most powerful communications platforms with 237 million daily users in a matter of weeks, though the deal is not final. The lack of clear plans for the platform are raising concern among Twitter’s constituencies, ranging from users in conflict regions where it offers an information lifeline to the company’s own employees.

    “Both users and advertisers are — understandably — anxious about whether the move will fundamentally change the culture of the platform,” said Brooke Erin Duffy, a professor at Cornell University who studies social media. “And so, Musk will need to decide whether he wants to quash their concerns by retaining core features (the content moderation system, for instance) and keeping the company public — or whether he will undertake a full-scale overhaul.”

    Muddling things further, on Tuesday Musk tweeted that “Buying Twitter is an accelerant to creating X, the everything app,” without further explanation.

    Although Musk’s tweets and statements have been cryptic, technology analysts have speculated that Musk wants to re-create a version of China’s WeChat app that can do video chats, messaging, streaming, scan bar codes and make payments.

    He gave a little more detail during Tesla’s annual shareholder meeting in August, telling the crowd at a factory near Austin, Texas, that he uses Twitter frequently and knows the product well. “I think I’ve got a good sense of where to point the engineering team with Twitter to make it radically better,” he said.

    Handling payments for goods could be a key part of the app. Musk said he has a “grander vision” for what X.com, an online bank he started early in his career that eventually became part of PayPal, could have been.

    “Obviously that could be started from scratch, but I think Twitter would help accelerate that by three-to-five years,” Musk said at the August meeting. “So it’s kind of something that I thought would be quite useful for a long time. I know what to do.”

    For now, Twitter has immediate and pressing problems Musk will need to deal with if he takes ownership of the company. Its social media rivals are struggling with declining stock prices and some, like Snap, even announced layoffs. Government regulation and attracting younger users away from TikTok are also challenges. And Musk’s vision of a free speech haven has social media and content moderation experts, as well as digital and human rights advocates, concerned.

    “When this all started in the spring, we had indicators and a strong sense of what Musk might do with the platform,” said Angelo Carusone of Media Matters, a watchdog group that opposes the takeover. “Because of the lawsuit, we know who he’s been talking to, what he’s been saying and the types of far-right ideological decision makers he wants to put in place. To put it bluntly, the worst fears have been confirmed.”

    Twitter employees, under former CEO Jack Dorsey and his predecessors, have spent years working to tame the platform once called the “free-speech wing of the free-speech party” where hate and harassment abound into something where all are welcome and safe. While it’s far from perfect, critics worry Musk’s ownership will mean turning back the clock on years of this work.

    “Musk made it clear that he would roll back Twitter’s community standards and safety guidelines, reinstate Donald Trump along with scores of other accounts suspended for violence and abuse, and open the floodgates of disinformation,” Carusone said.

    The company, for instance, was an early adopter of the “report abuse” button in 2013, after U.K. member of parliament Stella Creasy received a barrage of rape and death threats on the platform, echoing the experiences of other women over the years.

    In subsequent years, Twitter continued to craft rules and invest in staff and technology to detect violent threats, harassment and misinformation that violates its policies. After evidence emerged that Russia used their platforms to try to interfere with the 2016 U.S. presidential election, social media companies also stepped up their efforts against political misinformation.

    The big question now is how far Musk, who describes himself as a “free-speech absolutist,” wants to ratchet back these systems — and whether users and advertisers will stick around if he does.

    Aiming to tamp down such worries, Musk said in May he wants Twitter to be “as broadly inclusive as possible ” where ideally, most of America is on it and talking — a far cry from the far-right playground his critics are warning against.

    And while Musk has hinted he’d consider reinstating Trump’s account, it’s not clear the former president, who has since launched his own social media platform, would return.

    Then there’s the matter of Twitter’s employees, who’ve been living with uncertainty, high- (and low-) profile departures and a potential owner who’s publicly derided them on their own platform. Musk has also targeted Twitter’s work-from home policy, having once called for the company’s headquarters to be turned into a “homeless shelter” because, he said, so few employees actually worked there.

    As a hyper-frequent Twitter user with over 100 million followers, Musk does know how to use the platform. During an all-hands staff meeting Musk attended in June, he said his goal was to make it “so compelling that you can’t live without it.” If he’s able to realize this, it could finally put Twitter in the big leagues of social media, with TikTok and Meta’s Facebook and Instagram, where users are counted in the billions, not mere millions.

    Of course, Musk is also well known for predictions that are delayed or may not come true, such as colonizing Mars or deploying a fleet of autonomous robotaxis.

    “This is not a car manufacturer where, good enough, all you have to do is beat General Motors. Sorry, that isn’t really that hard,” said David Kirsch, a professor of strategy and entrepreneurship at the University of Maryland who’s studied Twitter bots’ effect on Tesla’s stock price. “You are dealing here with all of these other companies (that) also have very sophisticated AI programs, very sophisticated PhD programmers…everyone is trying to crack this nut.”

    Krisher reported from Detroit.

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  • Hilary Swank talks filming new series while expecting twins

    Hilary Swank talks filming new series while expecting twins

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    Hilary Swank has announced she’s pregnant with twins and says that revelation might explain some of her actions on set of her new ABC series “ Alaska Daily.”

    “You don’t tell for 12 weeks for a certain reason. But then, like, you’re growing and you’re using the bathroom a lot and you’re eating a lot. I’m sure there’s been conversations, and when I get back to the set, people will be like, ‘Oh, it all makes sense now,’ the two-time Oscar winner said Wednesday during press interviews in New York.

    “There was a moment just last week when my pants didn’t fit anymore and I had to like cut … my pants and then I put a jacket on over it like I had to hide it, right? And the continuity (person) was like, ‘That doesn’t match’ (a previous take.) And I’m like, ‘Oh, you know, it’s OK, it’ll work.’ And they’re like, ‘No, it doesn’t match.’ And I’m like, ‘Oh, I think it’s OK.’ I think we can make it work.′ And she’s like, ‘Well, you’re an executive producer, so you can do what you want, but that doesn’t work.’ I was like, ‘Oh my gosh, I have to be able to tell people soon,’” she said, laughing.

    Swank, 48, just finished filming the fifth episode of the series, which debuts Thursday on ABC and says she looks forward to “seeing how much my body’s changed. It’ll be interesting to see.”

    “Alaska Daily” is created by and co-executive produced by Tom McCarthy (“Spotlight”, “Stillwater”) who also wrote and directed the first episode. It follows Swank as an investigative journalist named Eileen who gets lured to Alaska by a former colleague to look into an ongoing case of murdered Indigenous women.

    The story is based on a real decades-old problem of missing and murdered native Alaskan women and Swank hopes the show might put a spotlight on these cases.

    “At this moment, it’s happening and nothing’s being done about it. So as we continue down this road, hopefully shining a bright light on this … we can hopefully down the line start saying, ‘Look, something’s being done now.’”

    Swank’s character is a seasoned reporter who arrives in Anchorage confident in her abilities, even if the locals are skeptical of this newcomer.

    “She has done it for a long time. She doesn’t suffer fools. She calls out B.S. when she sees it. She just speaks her mind,” Swank said. “A lot of people call her rude, yet if she were a man, no one would call her rude. … Probably five years ago there wouldn’t be a female character like this on television. So it’s nice to be stepping into these new waters and to have that opportunity to do that,” said Swank.

    Filming a TV show requires long hours, which makes this expectant mother respectful of those who work while pregnant.

    “I’ve never been pregnant before and being able to now have a deeper understanding of what women have gone through for so long, the naseousness and the exhaustion, and especially in the first trimester,” Swank said.

    “We work 15 hour days and a TV series is like a marathon, so some day are six day weeks and we have 30 minute lunches. And look, I’m not complaining because I love my job, but when you ask, like, ‘What is it like to be pregnant during that?’ It’s definitely a different set of circumstances.”

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  • Global crypto markets face tougher rules under G20 plan

    Global crypto markets face tougher rules under G20 plan

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    Crypto’s Wild West era may be coming to an end.

    According to the Financial Stability Board (FSB), a global financial standard-setter, most of the cryptocurrency market should be subject to the same tough rulebook that governs traditional finance.

    The FSB, which was born in the wake of the 2008 financial meltdown to stave off further shocks, will propose the plan to rein in crypto to finance ministers and central bankers from the Group of 20 industrialized countries gathering in Washington next week, the plan’s chief architect, Steven Maijoor, told POLITICO.

    “A lot of the activities in crypto assets and crypto assets markets resemble activities in the traditional financial system and therefore we take the approach: Same activity, same risk, same regulation,” Maijoor, who sits on the Dutch central bank’s governing board and oversees banking supervision, said in Prague in early September.

    The move is set to put major crypto trading platforms on red alert, coming as the U.S. Securities and Exchange Commission seeks to impose securities regulation on cryptocurrencies and as the EU prepares its own rules for digital markets.

    More broadly, the FSB’s work on digital assets is likely to act as a cold shower for crypto currencies that seek to expand their services without complying with regulations.

    Regulators fear the lack of investor safeguards could see volatility in cryptocurrency markets spilling over into the traditional finance sector, as banks and money managers venture into the market.

    Some $2 trillion of the market’s value has evaporated since its highs of November last year, triggering corporate collapses and exposing scams that left millions of crypto investors penniless. Risks within the crypto markets are still contained. But that could quickly change and threats could spill over to financial markets from various channels, according to the European Securities and Markets Authority.

    Maijoor will present G20 policymakers with draft recommendations that he’s been developing with a team of global regulators within the FSB since April with the view of securing financial stability as crypto goes mainstream. Countries around the world will need to decide whether new rules are needed for novel arrivals within the crypto market, such as digital wallets. The rest should be captured by new or existing financial rules.

    “This is not only related to securities,” said the 58-year-old, who used to lead the EU’s securities regulator before getting a job at De Nederlandsche Bank. “There are also already some crypto activities that are captured by anti-money laundering laws and regulations and we can observe that also, in that case, there is non-compliant behavior.”

    The example of companies skirting around dirty money safeguards is an easy one for the Dutchman to give. His central bank in late April fined the world’s biggest crypto exchange, Binance, €3 million for offering services to Dutch citizens without having cleared the required Dutch safeguards against dirty money — gaining a competitive advantage against its rivals. Binance objected to the fine in June.

    The Financial Stability Oversight Council, chaired by U.S. Treasury Secretary Janet Yellen, said the crypto industry needs to be brought to heel in several areas | Alex Wong/Getty Images

    Ministers and governors will also get updated recommendations on how to regulate global stablecoins, digital tokens that are tied to national currency or a reserve of financial products to keep their value steady. The stablecoin update is separate from the crypto recommendations and came in response to Facebook’s failed bid to introduce a virtual currency for some 2.9 billion social media users around the world.

    Maijoor’s work will be subject to consultation, so companies and countries will be able to suggest changes to what will become the global blueprint for supervising the market.

    Locking horns

    The recommendations could embolden U.S. banking and markets regulators, which are increasingly taking the position that digital asset trading platforms and brokerages should follow existing regulations.

    The Financial Stability Oversight Council, which is chaired by U.S. Treasury Secretary Janet Yellen and counts SEC Chair Gary Gensler and the heads of other federal agencies among its members, on Monday released a report that identified several areas where the crypto industry needs to be brought to heel. 

    “Crypto cannot exist outside of our public policy frameworks. That’s regardless of what [Bitcoin’s pseudonymous creator] Satoshi Nakamoto might have initially thought, or what market participants might say today,” Gensler said during Monday’s FSOC meeting. 

    Ripple and Coinbase, both major crypto exchanges that have locked horns with Gensler, will be hoping for a different outcome that involves new rules.

    Coinbase has argued that crypto assets are more akin to commodities and that the SEC classifying them as securities is like putting a straitjacket on how the market could develop, especially considering those rules were developed in the 1930s. The Commodity Futures Trading Commission would be a far better fit, according to the exchange.

    “I think it is reasonable to assume that none of the authors who drafted these securities statutes from the 1930s … did so while thinking of a day when a decentralized, cryptographically-based, automated financial instrument would be adopted en masse by millions of people in the United States and around the world,” Coinbase’s chief policy officer, Faryar Shirzad, wrote in a blog in July.

    Sam Sutton contributed reporting from New York.

    This article is part of POLITICO Pro

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  • Elon Musk would lose 13.5 million Twitter followers if he scraps most spam accounts; Justin Bieber would lose 27.6 million, data finds

    Elon Musk would lose 13.5 million Twitter followers if he scraps most spam accounts; Justin Bieber would lose 27.6 million, data finds

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    Elon Musk would lose about 13.5 million Twitter followers, if he pushes through his plan to get rid of most spam accounts, according to data crunched by CodeClan, a Scottish digital skills academy.

    The Tesla Inc.
    TSLA,
    -3.84%

    CEO on Tuesday gave up a legal battle and agreed to pay $44 billion to take over the social-media company. Musk has said he wants less than 5% of Twitter
    TWTR,
    -2.35%

    accounts to be spam.

    But Musk’s losses pale in comparison with singer Justin Bieber, who would lose 27.6 million of his 114.2 million followers, according to the data.

    Britney Spears would lose the highest percentage of fake followers out of the top 20 with some 48% of her 55.8 million followers being classified as fakes.

    See also: Elon Musk says Twitter will eventually be part of ‘X, the everything app’

    Former President Barack Obama would lose 19.3 million of his 131.9 million followers, the data shows.

    Among other high profile names; Katy Perry has about 23.3 million fakes among her 108.9 million followers, or 21.4% of the total; Rihanna has about 26.5 million fakes, or 24.9% of her 106.5 million followers; Lady Gaga has 10.9 million fakes in her roster of 84.7 million followers, for 12.9% of the total; Kim Kardashian has about 14 million fakes, or 19.4% of her 72.4 million followers, and Ellen DeGeneres has about 24.4 million fakes, equal to 31.5% of her 77.5 million followers.

    See now: Elon Musk’s legal battle with Twitter may be over, but his war with the SEC continues

    In the world of politics, Indian Prime Minister Narendra Modi has about 17.5 million fakes in his 78.8 million followers, equal to 22.2% of the total.

    CNN Breaking News has about 7.7 million fakes, or 12.2% of its 63.1 million followers. Bill Gates has about 14.3 million fakes, or 24.2% of his 58.9 million followers. And NASA has some 14.7 million fakes, or 26.8% of its 57.1 million followers.

    Twitter shares were slightly lower premarket, while Tesla was down 1.1%.

    Shares of Digital World Acquisition Corp.
    DWAC,
    +0.03%
    ,
    the special-purpose acquisition company, or SPAC, buying the company behind former President Donald Trump’s Truth Social social-media company, was slightly higher premarket after falling more than 5% Tuesday in the wake of the Musk/Twitter news.

    The SPAC has fallen 67% in the year to date, while the S&P 500
    SPX,
    -1.28%

    has fallen 20%.

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  • Fan who caught Judge’s 62nd HR unsure what he’ll do with it

    Fan who caught Judge’s 62nd HR unsure what he’ll do with it

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    ARLINGTON, Texas — As he walked through a concourse in the outfield at Globe Life Field, high-fiving with fans and surrounded by a sea of cameras, it was almost as if Cory Youmans had hit a huge home run.

    Instead, he hit the jackpot.

    Youmans made the catch of a lifetime Tuesday night, snagging the ball New York Yankees slugger Aaron Judge launched for his American League-record 62nd homer.

    The historic souvenir came sailing into the front row of section 31 in left field, a drive Judge hit to lead off the second game of a day-night doubleheader against the Texas Rangers. Youmans snared it on the fly.

    Youmans, from Dallas, works in the financial world and there’s no telling yet what the ball could be worth. With security personnel around him as he took the ball to be authenticated, he was asked what he planned to do with the prize.

    “Good question. I haven’t thought about it,” he said.

    After the Yankees lost 3-2, Judge said he didn’t have possession of the home-run ball.

    “I don’t know where it’s at,” he said. “We’ll see what happens with that. It would be great to get it back, but that’s a souvenir for a fan. He made a great catch out there, and they’ve got every right to it.”

    Soon after a local TV station posted a brief interview with Youmans in a walkway, Bri Amaranthus tweeted: “THIS IS MY HUSBAND.”

    Amaranthus works in local media and is an alum of ABC’s “The Bachelor.”

    Youmans was among the crowd of 38,832, the largest to watch a baseball game at the 3-year-old ballpark.

    Many fans came clad in Yankees caps, T-shirts and pinstripe jerseys.

    Some came to watch Judge make history. Some came just for the history. Some traveled a long way.

    The latter two categories included Jimmy Bennicaso of Norwalk, Connecticut.

    “I’m a Met fan, actually,” Bennicaso confessed. “Cowboy and Met fan — a rough combo.”

    Bennicaso was home in Connecticut on Monday night having watched Judge fail to homer in the first of four games against the Rangers in three days. He ran an idea past his girlfriend — what if he headed to Texas to take in Judge’s chase in person?

    “She said, ‘Yeah, go for it,'” he said.

    Bennicaso caught a morning flight to Texas. Being self-employed in real estate investments helped, he said.

    Bennicaso stationed himself in the lower deck of the right-field stands in hopes of grabbing an opposite-field homer, certainly a possibility given Judge’s spray chart.

    Instead, Judge pulled a home run that broke the AL record set by Roger Maris in 1961.

    Empty-handed, Bennicaso planned to return home Wednesday morning.

    “It was worth it,” he said. “I gave it my best shot.”

    ———

    More AP MLB: https://apnews.com/hub/MLB and https://twitter.com/AP—Sports

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  • EXPLAINER: What’s next in Musk’s epic battle with Twitter?

    EXPLAINER: What’s next in Musk’s epic battle with Twitter?

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    Elon Musk’s monthslong tussle with Twitter took another twist Tuesday when the Tesla billionaire seemed to return to where he started in April — offering to buy the company for $44 billion.

    But it’s not over yet. Twitter says it intends to close the deal at the agreed-upon price, but the two sides are still booked for an Oct. 17 trial in Delaware over Musk’s earlier attempts to terminate the deal.

    DOES ELON MUSK OWN TWITTER YET?

    No, he doesn’t own Twitter and it’s still not clear if or when he would take it over. What happened this week is that his lawyer sent a letter to Twitter saying Musk will complete the deal as long as he lines up the promised debt financing and provided that the Delaware Chancery Court drops Twitter’s lawsuit against him. But Twitter is unlikely to give up on its legal proceedings unless it confirms that the deal is for real this time and not a tactical gambit.

    WHAT HAPPENS NEXT?

    The judge presiding over the Delaware case hasn’t yet publicly weighed in on Musk’s new proposal, but what she says could determine the next steps.

    Twitter’s deposition of Musk — set to begin Thursday — and even the Oct. 17 trial itself could still go forward if Twitter isn’t assured that the deal is closing, said Ann Lipton, an associate law professor at Tulane University.

    “Twitter is not going to let that proceeding stop until it gets that 100% reassurance,” she said.

    But if the deal does go through, Lipton said Musk could be in charge of Twitter in a matter of days — however long it takes him and his co-investors to line up the cash.

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  • Elon Musk wants to move forward with his purchase of Twitter. Here’s how some Twitter users reacted.

    Elon Musk wants to move forward with his purchase of Twitter. Here’s how some Twitter users reacted.

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    Elon Musk sent a letter to Twitter
    TWTR,
    +22.24%

    indicating he intends to move forward with his original proposal that he acquire the company for $54.20 a share, according to a filing from the Securities and Exchange Commission.

    The Tesla Inc.
    TSLA,
    +2.90%

    CEO agreed to buy the social media company back in April for $44 billion, but in recent months said he wanted to terminate the deal, publicly citing concerns about bots on the platform. The two sides had been entrenched in a legal battle over the past few months, and a Delaware Chancery Court judge was scheduled to hear arguments on the case in October, a case Wedbush analyst Daniel Ives said Musk was “highly unlikely” to win.

    See also: College students who got low grades complained about their ‘dismissive’ professor. Then NYU fired him.

    Twitter users reacted to the news on Tuesday afternoon, many of them joking about a potential resolution to the seemingly never-ending Elon Musk Twitter saga.

    One Twitter user said she believes Musk will look to reinstate the account of former President Donald Trump, which was banned shortly after the attack on the Capitol on Jan. 6, 2021. Trump has claimed he won’t return to Twitter even if the Musk deal is executed, and he’ll continue to post on his platform, Truth Social.

    See also: Trump’s Facebook ban may end as soon as January 2023, Meta executive says

    “We’re doing a big platform right now, so I probably wouldn’t have any interest,” the former president said.

    Another user tweeted that supporters of the meme crypto dogecoin
    DOGEUSD,
    +1.11%

    are excited by Musk’s move to proceed with the deal. Musk has touted dogecoin on several occasions in the past few years.

    Similar to bitcoin, dogecoin is a peer-to-peer, open-source cryptocurrency. It trades under the ticker symbol “DOGE” and features the face of the shiba inu from the popular Doge meme as its logo. Dogecoin was up as much as 9.16% after the Bloomberg news was published.

    Musk has not publicly commented on the report, but one Twitter user pointed out that he tweeted about his satellite internet project Starlink after the news broke, but did not mention Twitter in any way.

    A report from The Wall Street Journal stated Musk’s legal team relayed the proposal to Twitter’s team “overnight Monday.”

    Shares of Tesla Inc. dipped after the news, and are now up just 1.31% during Tuesday’s trading. Shares of the EV maker were up as much as 5.65% on the day before the Musk news.

    See also: SPAC backing Trump’s Truth Social hit by news Musk is again offering to acquire Twitter at original price

    The news comes a few days after hundreds of text messages from Musk’s phone were made public as evidence in Twitter’s lawsuit.

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  • Former Northeastern employee charged in campus bomb hoax

    Former Northeastern employee charged in campus bomb hoax

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    BOSTON — A former Northeastern University employee who said he was injured when a package he was opening on the Boston campus exploded last month was charged Tuesday with fabricating the incident.

    Jason Duhaime, formerly the new technology manager and director of the university’s Immersive Media Lab, was charged with “conveying false and misleading information related to an explosive device” and then lying to federal investigators, federal authorities said.

    “This alleged conduct is disturbing to say the least,” U.S. Attorney Rachael Rollins said at a news conference. “Our city, more than most, knows all too well that a report or threat of an explosion is a very serious matter and necessitates an immediate and significant law enforcement response, given the potential devastation that can ensue.”

    Duhaime told investigators that the hard plastic case exploded when he opened it on Sept. 13, causing “sharp” objects to fly from the case and injure his arms, but his arms only had superficial marks and there was no damage to his shirt, investigators said.

    According to an FBI affidavit, “The inside and outside of the case did not bear any marks, dents, cracks, holes, or other signs that it had been exposed to a forceful or explosive discharge of any type or magnitude.”

    The case also contained a rambling typed note full of misspellings and exclamation points that railed against virtual reality, referenced Facebook founder Mark Zuckerberg, and threatened to “destroy” the lab.

    “It has come to our attention that this VR lab is trying to change us as a world,” the note said.

    The letter also said: “We know you are working with Mr. Mark Zuckerberg and the U.S. government.”

    It later said: “We know you are working on a secret flying project to scan buildings across the world so Mark can take over google maps,” and “the robots your (sic) building are walking around NEU, MIT and into Harvard yard.”

    The FBI affidavit said the letter was “pristine” and “bore no tears, holes, burn marks, or any other indication that it had been near any sort of forceful or explosive discharge.”

    Investigators also discovered a word-for-word, electronic copy of the letter stored in a backup folder on a university computer in Duhaime’s office that had been written just hours before he called 911.

    Authorities said they could not comment on the specific motive because of the ongoing investigation.

    “In this case, we believe Mr. Duhaime wanted to be the victim but instead victimized his entire community by instilling fear at college campuses in Massachusetts and beyond,” Joseph Bonavolonta, Special Agent in Charge of the FBI’s Boston office said.

    Duhaime, who lives in Texas, was scheduled to make an initial court appearance Tuesday afternoon in San Antonio.

    An attorney for Duhaime did not immediately respond to a telephone message and an email seeking comment. Duhaime has previously denied staging the incident, saying in an interview with The Boston Globe that it was “very traumatic.”

    “I did not stage this … No way, shape or form … they need to catch the guy that did this,” he told the newspaper.

    Northeastern is a private university with about 16,000 students. The school in a statement Tuesday said Duhaime no longer works there.

    The reported explosion led to swarms of police including two bomb squads descending on the school, forced the evacuation of several campus buildings, and put the campus on edge even after reassurances from the school that it was safe.

    “His alleged actions diverted significant law enforcement resources away from essential public safety matters and caused fear and panic not only on campus, but also in the homes of the families and friends and loved ones of Northeastern students, faculty and staff,” Rollins said.

    It marked one of the first big scares in Boston since 2013, when two bombs planted near the finish line of the Boston Marathon killed three spectators and wounded more than 260 others.

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  • Twitter stock surges 22% after Elon Musk gives up bot battle and commits to $44 billion deal

    Twitter stock surges 22% after Elon Musk gives up bot battle and commits to $44 billion deal

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    Tesla Inc. Chief Executive Elon Musk now plans to close his proposed $44 billion deal for Twitter Inc., according to a Tuesday filing that arrived less than two weeks before a judge was scheduled to hear a case on the disputed acquisition.

    Musk’s lawyers sent a letter to Twitter’s management team indicating that he was proposing to move forward with the original acquisition terms late Monday, and that letter was released as a filing with the Securities and Exchange Commission Tuesday afternoon. A Twitter spokesperson later confirmed to MarketWatch that the company intended to proceed with the deal for $54.20 a share.

    Twitter
    TWTR,
    +22.24%

    shares jumped 22.2% to $52 in Tuesday’s session, after an hours-long trading halt that started after Bloomberg News first reported the move around noon Eastern time, suggesting a possible end to the legal saga between the two parties. The increase is the second best daily percentage gain on record for Twitter stock, behind only the 27.1% gain experienced when Musk disclosed his initial ownership stake in Twitter in April. Twitter was the best performing stock Tuesday in the S&P 500 index
    SPX,
    +3.06%
    ,
    and is now up 20.3% on the year.

    The two sides have been locked in a legal battle for months, and a Delaware Chancery Court judge was expected to hear from both sides in a five-day trial slated to begin Oct. 17. The Wall Street Journal reported Tuesday that the Delaware judge asked the two sides to come up with a plan by the end of the day that could bring about an end to the litigation.

    “Musk could see the writing on the wall that he was going to lose the trial,” said Josh White, an assistant finance professor at Vanderbilt University, in an email to MarketWatch. “By doing this, he can save legal costs, time and ultimately losing in a very public trial.”

    See also: Here’s how Twitter’s users reacted to Musk agreeing to buy the platform

    Musk agreed in April to buy Twitter in a deal that valued the company at roughly $44 billion, but he later said that he was terminating the deal. The Tesla
    TSLA,
    +2.90%

    CEO cited concerns about bot activity on Twitter and said he believed the company’s management team wasn’t accurate in its public disclosures about the extent of spam activity on the platform.

    White noted that text messages released in conjunction with the case showed that Musk was aware of Twitter’s bot issue before going forward with his original deal offer, and he doubted that Musk would be able to show that “something really changed” after that point.

    “If he offered less than $54.20, Twitter might have proceeded with the trial, and he would be deposed,” White continued. “By offering the original price, he maximizes the chance that Twitter accepts and the trial ends. I expect Twitter’s board to accept the deal and for it to close rather quickly.”

    Wedbush analyst Daniel Ives agreed that the Tesla leader’s latest move marked a “clear sign that Musk recognized heading into Delaware Court that the chances of winning vs. Twitter board was highly unlikely and this $44 billion deal was going to be completed one way or another,” he wrote in a note to clients. “Being forced to do the deal after a long and ugly court battle in Delaware was not an ideal scenario and instead accepting this path and moving forward with the deal will save a massive legal headache.”

    Opinion: Twitter stood up to Elon Musk and won, but will it feel like a win once he owns it?

    Vanderbilt’s White noted that a deal at the original price would be a “big” win for Twitter shareholders.

    “The stock price of Snap
    SNAP,
    +8.42%

    and Twitter seemed to trade around the same price level before the offer,” he told MarketWatch. “Snap is now a ~$10 stock with a $17 billion market cap. So Twitter’s shareholders win by getting $54.20 rather than having the price drop to $10-20 per share.”

    Additionally, he deemed Delaware business law another winner: “This deal shows that even the richest man in the world cannot overcome well-written contracts enforced in a neutral and fair way by the Delaware courts.”

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  • The Onion and the Supreme Court. Not a parody

    The Onion and the Supreme Court. Not a parody

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    WASHINGTON — The Onion has some serious things to say in defense of parody.

    The satirical site that manages to persuade people to believe the absurd has filed a Supreme Court brief in support of a man who was arrested and prosecuted for making fun of police on social media.

    “As the globe’s premier parodists, The Onion’s writers also have a self-serving interest in preventing political authorities from imprisoning humorists,” lawyers for the Onion wrote in a brief filed Monday. “This brief is submitted in the interest of at least mitigating their future punishment.”

    The court filing doesn’t entirely keep a straight face, calling the federal judiciary “total Latin dorks.”

    The Onion said it employs 350,000 people, is read by 4.3 trillion people and “has grown into the single most powerful and influential organization in human history.”

    The Supreme Court case involves Anthony Novak, who was arrested after he spoofed the Parma, Ohio, police force in Facebook posts.

    The posts were published over 12 hours and included an announcement of new police hiring “strongly encouraging minorities to not apply.” Another post promoted a fake event in which child sex offenders could be “removed from the sex offender registry and accepted as an honorary police officer.”

    After being acquitted of criminal charges, the man sued the police for violating his constitutional rights. But a federal appeals court ruled the officers have “qualified immunity” and threw out the lawsuit.

    One issue is whether people might reasonably have believed that what they saw on Novak’s site was real.

    But the Onion said Novak had no obligation to post a disclaimer. “Put simply, for parody to work, it has to plausibly mimic the original,” the Onion said, noting its own tendency to mimic “the dry tone of an Associated Press news story.”

    More than once, people have republished the Onion’s claims as true, including when it reported in 2012 that North Korean leader Kim Jong-un was the sexiest man alive.

    The brief concludes with a familiar call for the court to hear the case and a twist.

    “The petition for certiorari should be granted, the rights of the people vindicated, and various historical wrongs remedied. The Onion would welcome any one of the three, particularly the first,” lawyers for the Onion wrote.

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  • Navy admiral to seek community input on Red Hill fuel tanks

    Navy admiral to seek community input on Red Hill fuel tanks

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    JOINT BASE PEARL HARBOR-HICKAM, Hawaii — The commander of the task force responsible for draining fuel from a World War II-era storage tank facility that leaked jet fuel and poisoned Pearl Harbor’s tap water last year said Monday he’s exploring ways to get community feedback.

    Rear Adm. John Wade told reporters at a news conference he may establish an advisory group, but he’s not sure yet what form it will take.

    He said getting input from the community will help him be more responsive. He said Hawaii’s elected officials told military leaders that it would be valuable for them to give the community a voice in their work.

    “I don’t have the structure yet. It’s still a work in progress, but I think it’s something that’s important,” said Wade, the commander of Joint Task Force Red Hill.

    Defense Secretary Lloyd Austin announced Wade’s appointment last month.

    In November, jet fuel spilled from a drain line at the Red Hill Bulk Fuel Storage Facility, flowed into a drinking water well and then into the Navy’s water system serving 93,000 people in and around Joint Base Pearl Harbor-Hickam. Nearly 6,000 sought medical attention for ailments like nausea, headaches and sores. The military put about 4,000 families in hotels for several months.

    The military plans to remove more than 100 million gallons (378.54 million liters) of fuel from the 80-year-old tanks by July 2024, and then close the facility afterward.

    Wade said he’s started reaching out to Hawaii’s congressional delegation and other local leaders — including Ernie Lau, the chief engineer of the Honolulu Board of Water Supply and one of the strongest critics of how the Navy has managed Red Hill over the past decade.

    Kathleen Pahinui, a spokeswoman for the Board of Water Supply, said Lau had a short introductory conference call with Wade on Friday and they expect to host Wade for an in-person meeting soon. She said the call went well and they look forwarding to meeting him and his team in person.

    In addition to Lau, Wade said he also met with Hawaii Department of Health Director Dr. Libby Chair and her environmental deputy, Kathleen Ho.

    Wade was already assigned to Hawaii last year when the spill occurred, as the person in charge of operations and training at U.S. Indo-Pacific Command. He said he wasn’t among those that had to move out their homes, but he — like others — questioned the safety of his water.

    Some military families have complained of continuing health problems like seizures and gastrointestinal issues and filed a lawsuit against the federal government in August.

    As head of the task force, Wade will report to Austin through Adm. John. C. Aquilino, the Indo-Pacific Command commander.

    Indo-Pacific Command said in a news release last month that this “will ensure awareness and support at the highest levels of the Department and as well as provide accurate and timely information to the local community.”

    Austin met with Wade last week during a visit to Hawaii that also included meetings with his counterparts from the Philippines, Australia and Japan. Austin didn’t talk to local media afterward.

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  • Photographer rides out Ian to capture the storm for others

    Photographer rides out Ian to capture the storm for others

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    Chuck Larsen has lived on Sanibel Island for 12 years and until last week had never experienced a major hurricane. The 76-year-old who moved from California decided to ride out Hurricane Ian in his condominium with little idea of the horror he was about to go through.

    He filled his bathtub with water, stocked up on food and water, and made sure batteries were charged and his windows were rated to withstand 150 mph (240 kph) winds. He followed the forecast thinking the island would get strong wind and rain, and trees would fall, but areas to the north would take the hardest hit.

    “I have to tell you, I felt fairly safe going into this, but when the glass blew out and started shattering inside … I realized this was a problem,” said Larsen, who has since “retreated to Orlando.”

    There was another reason Larsen wanted to stay. He is the part owner and photographer for the local news website santivachronicle.com.

    “I stayed behind to record the event and record the aftermath for publication without realizing exactly how bad this storm was going to be,” Larsen said in a Zoom interview. “I tried to photograph the storm as it was happening. The high winds, the rain, the surge from the Gulf. After the storm I tried to document what was left, what damage was done, and it was horrific.”

    But with no internet or cell phone connectivity, he wasn’t able to publish any material until several days later when he was safely evacuated.

    Larsen has spent a career in television and continues to run a television distribution consulting company. His first television job was as a reporter and anchor at an Indianapolis station. One of his co-workers was weatherman David Letterman.

    Larsen was attracted to Sanibel because of its old Florida charm and the community of residents who want to preserve it. The barrier island off Fort Myers has no buildings taller than three stories, no chain restaurants or stores, no traffic lights and is home to locally owned shops. It’s famous for the thousands of shells that wash up on the beaches and is a quaint, picturesque island for tourists.

    He and his wife vacationed there a few years before deciding to move to the island of about 6,500 full-time residents. Sanibel attracts retirees — about 57% of the population is 65 years old or older — and while not an enclave for the mega-rich, the median value of owner-occupied homes tops $700,000 and its per capita income is more than $90,000, both well above state averages.

    “At the moment, it looks like nothing you would remember if you had ever visited Sanibel. It’s devastated,” Larsen said.

    While he, his wife and two dogs took shelter in an interior room during the storm, he ventured out the next morning with his camera hoping to get images for his news website, which covers community events, human interest stories and features on residents of Sanibel and nearby Captiva Island.

    “It was like living in a war zone — just decimated property and condominiums, trees gone, I don’t think there was a car that survived. It was pretty dramatic, much worse than I’ve ever experienced,” Larsen said.

    He and his wife eventually found a boat to take them to the mainland. They’re staying with a daughter in Orlando, not sure when they’ll be able to get back to their island home. But Larsen is sure they will.

    “Sanibel is a very cohesive community. It will rebuild. It won’t happen immediately. It will probably happen faster than most people might think, but it will need a complete rebuild — electric grid, water systems — it’s going to take a lot of work, but it will come back. I have no doubt about that.”

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  • What if Musk loses the Twitter case but defies the court?

    What if Musk loses the Twitter case but defies the court?

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    Twitter wants a Delaware court to order Elon Musk to buy the social media service for $44 billion, as he promised back in April. But what if a judge makes that ruling and Musk balks?

    The Tesla billionaire’s reputation for dismissing government pronouncements has some worried that he might flout an unfavorable ruling of the Delaware Court of Chancery, known for its handling of high-profile business disputes.

    Musk hopes to win the case that’s headed for an October trial. He’s scheduled to be deposed by Twitter attorneys starting Thursday.

    But the consequences of him losing badly — either by an order of “specific performance” that forces him to complete the deal, or by walking away from Twitter but still coughing up a billion dollars or more for breach of contract — has raised concerns about how the Delaware court would enforce its final ruling.

    “The problem with specific performance, especially with Elon Musk, is that it’s unclear whether the order of the court would be obeyed,” retired Delaware Supreme Court Justice Carolyn Berger told CNBC in July. “And the courts in Delaware — courts all over — are very concerned about issuing a decision or issuing an order that then is ignored, flouted.”

    Berger, who was also a vice chancellor of the Chancery Court in the 1980s and 1990s, stood by those concerns in an interview with The Associated Press but said she doubted the Delaware institution would go so far as to make him complete the deal.

    “The court can impose sanctions and the court can kind of coerce Musk into taking over the company,” she said. “But why would the court do that when what really is at stake is money?”

    Berger said she expects San Francisco-based Twitter to prevail, but said a less tumultuous remedy for the company and its shareholders would make Musk pay monetary damages. “The court doesn’t want to be in a position to step in and essentially run this company,” she said.

    Musk and his lawyers didn’t respond to requests for comment.

    Other legal observers say such defiance is almost impossible to imagine, even from a famously combative personality such as Musk. He acknowledged he might lose in August in explaining why he suddenly sold nearly $7 billion worth of Tesla shares.

    “I take him at his word,” said Ann Lipton, an associate law professor at Tulane University. “He wants to win. Maybe he’s got his own judgment as to what the odds are. But he’s also being sort of practical about this. He’s getting some cash ready so he doesn’t have to dump his Tesla shares if it turns out he is ordered to buy the company.”

    A ruling of specific performance could force Musk to pay up his $33.5 billion personal stake in the deal; the price increases to $44 billion with promised financing from backers such as Morgan Stanley.

    The Delaware court has powers to enforce its orders, and could appoint a receivership to seize some of Musk’s assets, namely Tesla stock, if he doesn’t comply, according to Tom Lin, a law professor at Temple University.

    In a precedent set just this week involving contempt for noncompliance with a court order, a judge affirmed that shares of a company incorporated in Delaware are personal property subject to the Court of Chancery’s jurisdiction. The judge noted in his Monday ruling that it might be the first time the court has invoked its authority to address ownership of shares in a contempt proceeding, as he divested an entity of its shares and transferred title to another party in the lawsuit.

    Speculation that Musk could be threatened with jail time for failing to comply with a ruling is unrealistic, said Berger. “At least, not for the Court of Chancery,” said the former judge. “That’s not the way the court operates.”

    But more important, Lin said Musk’s legal advisers will strongly urge him to comply with the rulings of a court that routinely takes cases involving Tesla and other firms incorporated in the state of Delaware.

    “If you are an executive at a major American corporation incorporated in Delaware, it’s very hard for you to do business and defy the chancery court’s orders,” Lin said.

    Concerns about Musk’s compliance derive from his past behavior dealing with various arms of the government. In a long-running dispute with the U.S. Securities and Exchange Commission, he was accused of defying a securities fraud settlement that required that his tweets be approved by a Tesla attorney before being published. He publicly feuded with California officials over whether Tesla’s electric car factory should remain shut down during the early stages of the COVID-19 pandemic.

    He’s also taken a combative approach in Delaware Chancery Court, calling an opposing attorney a “bad human being” while defending Tesla’s 2016 acquisition of SolarCity against a lawsuit that blamed Musk for a deal rife with conflicts of interest and broken promises. He and his lawyers have other Delaware cases still pending, including one involving his compensation package at Tesla.

    “I think we’ve got a whole lot of players who, as loose a cannon as Elon Musk is, rely on the goodwill of the Delaware courts on an ongoing basis for their businesses,” Lipton said.

    Musk’s argument for winning his latest Delaware case largely rests on his allegation that Twitter misrepresented how it measures the magnitude of “spam bot” accounts that are useless to advertisers. But most legal experts believe he faces an uphill battle in convincing Chancellor Kathaleen St. Jude McCormick, the court’s head judge who is presiding over the case, that something changed since the April merger agreement that justifies terminating the deal.

    The trial begins Oct. 17 and whichever side loses can appeal to the Delaware Supreme Court, which is expected to act swiftly. Musk and Twitter could also settle the case before, during or after the trial, lawyers said.

    Delaware’s courts are well-respected in the business world and any move to flout them would be “shocking and unexpected,” said Paul Regan, associate professor of Widener University’s Delaware Law School who has practiced in Delaware courts since the 1980s. “If there was some kind of crisis like that, I think the reputational harm would be all on Musk, not the court.”

    ——

    AP reporter Randall Chase in Dover, Delaware, contributed to this report.

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  • Kim Kardashian settles with SEC over crypto promotion

    Kim Kardashian settles with SEC over crypto promotion

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    Kim Kardashian has agreed to pay $1.26 million to settle Securities and Exchange Commission charges that she promoted a cryptocurrency on Instagram without disclosing she’d been paid $250,000 to do so

    Kim Kardashian has agreed to pay $1.26 million to settle Securities and Exchange Commission charges that she promoted a cryptocurrency on Instagram without disclosing she’d been paid $250,000 to do so.

    The SEC said Monday that the reality TV star and entrepreneur has agreed to cooperate with its ongoing investigation.

    The SEC said Kardashian failed to disclose that she was paid to publish a post on her Instagram account about EMAX tokens, a crypto asset security being offered by EthereumMax.

    Kardashian’s post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens.

    “The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion,” Gurbir Grewal, director of the SEC’s division of enforcement, said in a prepared statement.

    Kardashian has agreed to not promote any crypto asset securities for three years.

    The Associated Press was not immediately able to reach Kardashian for comment.

    While Kardashian is well known for reality TV, currently appearing on “The Kardashians” on hulu, she is also a successful businesswoman. Her brands include SKIMS, which has shapewear, loungewear and other products, and a skincare line called SKKN.

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  • NOT REAL NEWS: A look at what didn’t happen this week

    NOT REAL NEWS: A look at what didn’t happen this week

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    A roundup of some of the most popular but completely untrue stories and visuals of the week. None of these are legit, even though they were shared widely on social media. The Associated Press checked them out. Here are the facts:

    ___

    Ukrainian family killed in Russian attack, despite denials

    CLAIM: Grave markers for a Ukrainian family that say they died on March 9 in Izium prove they were not killed by Russian forces, because Russian troops did not enter the Ukrainian city until weeks later.

    THE FACTS: The Ukrainian city of Izium was being heavily bombarded by Russian forces on March 9 and the family was killed in the attack, according to people with direct knowledge of the attack on the high-rise building where the family lived, as well as reports from humanitarian groups and Ukrainian officials who documented the destruction. After Ukrainian authorities discovered a mass grave in Izium this month, social media accounts for the Russian embassy in South Africa openly questioned whether one of the families buried at the site had been truly killed in a Russian offensive on the northeastern city. On its social media accounts, the embassy shared a screenshot of a tweet by Andrii Yermak, head of the office of the president of Ukraine, featuring a photo of the Stolpakov family’s grave site. The simple wooden crosses, found in a wooded area among scores of others, mark the date of their deaths as March 9, 2022. “The Russians are killing entire Ukrainian families,” Yermak had tweeted. “Izyum. Olesya, 6 years old. Murdered by the Russian uniformed terrorists. Her parents are buried nearby.” The Russian embassy in its posts falsely claimed that the family could not have been killed by Russian troops, because they were not in the area at the time. But Russian forces did carry out several strikes on Izium on March 9, including one that destroyed a high rise on the east bank of the Severodonetsk River, according to a dozen people with direct knowledge that AP journalists have spoken to in recent days. A woman who previously lived in the building and whose mother died in the blast told the AP the Stolpakovs lived in the high rise and were among those killed. Tetiana Pryvalikhina, a 40-year-old who now lives in Kladno in the Czech Republic with her daughter, said in messages on Instagram written in Ukrainian that many of the bodies couldn’t be removed until about a month after the attack, making identification difficult. Izium’s deputy mayor Volodymyr Matsokin told the AP that about 50 people died in the attack, including the Stolpakov family. Matsokin was among those who posted numerous photos and videos of the destroyed city on social media during those weeks. Ukrainian news outlets also reported that the family died in the March 9 attack, and the Ukrainian Ministry of Defense said in a Sept. 17 tweet that they died in an aerial attack on their home that day. Denis Krivosheev, a deputy director at Amnesty International, called the Russian embassy’s comment “totally disingenuous.” While it’s true that Russian forces did not establish full control of Izium until much later, they were clearly heavily shelling the city at the time the family was killed, he said. “The timing totally fits: our respondents were telling us about events at the time including on and close to 9 March,” he said in an email. George Barros, a Russia expert at the Institute for the Study of War, a D.C.-based group that’s been tracking major developments in the war, agreed. “There is ample documentation of Russian indirect fire against civilian infrastructure in Izyum since at least March 3, several days before Russian forces occupied Izyum,” he wrote in an email Monday. During a media briefing on Thursday, Maria Zakharova, a spokesperson for the Russian Foreign Ministry in Moscow, repeated claims that Russian forces weren’t responsible for the March 9 deaths.

    — Associated Press writers Philip Marcelo and Beatrice DuPuy in New York, Lori Hinnant in Ukraine and Dasha Litvinova in Tallinn, Estonia, contributed to this report.

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    Biden’s 2021 comments on hurricane preparedness misrepresented

    CLAIM: President Joe Biden called for people in Florida to prepare for Hurricane Ian by getting vaccinated against COVID-19.

    THE FACTS: Social media users are misrepresenting an August 2021 video in which Biden urged people in hurricane-prone states to get vaccinated in case they needed to evacuate or stay in a shelter. As Hurricane Ian on Tuesday approached the southwest coast of Florida, where 2.5 million people had been ordered to evacuate, the out-of-context clip of Biden spread widely on social media. “If you’re in a state where hurricanes often strike, like Florida or the Gulf Coast or into Texas, a vital part of preparing for hurricane season is to get vaccinated now,” Biden says in the video clip. “Everything is more complicated if you’re not vaccinated and a hurricane or a natural disaster hits.” Some social media users who shared the clip suggested that Biden’s comments were in reference to Hurricane Ian’s expected landfall in Florida. “Protect yourself from incoming hurricanes by getting vaccinated… right now!” wrote a Twitter user who shared the video on Tuesday. But the video is from Aug. 10, 2021. Biden made the comments prior to a White House briefing from FEMA Administrator Deanne Criswell and other officials about how the COVID-19 pandemic was impacting hurricane preparedness. But he didn’t say getting vaccinated would protect against hurricanes. In the full video, Biden discussed what he described as the upcoming “peak” hurricane season in the Atlantic region coinciding with the pandemic. “If you wind up having to evacuate, if you wind up having to stay in a shelter, you don’t want to add COVID-19 to the list of dangers that you’re going to be confronting,” Biden said in the video, later adding: “We can’t prevent hurricanes making landfall, but we can prevent people from getting seriously sick and dying from COVID-19.” Hurricane Ian made landfall in southwest Florida on Wednesday as a Category 4 storm, leaving destruction in its wake.

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    Analysts: China flight cancellations follow normal pattern

    CLAIM: There was no flight movement over China as more than 9,000 flights were canceled across the country in a single day last week.

    THE FACTS: While flight tracking estimates show that thousands of flights were canceled on several days last week, this remains consistent with the high cancellation rates the country has experienced amid the COVID-19 pandemic, and multiple experts told the AP that last week’s air patterns weren’t unusual. As baseless claims of a military coup in China spread online recently, social media users asserted that air traffic data showing more than 9,000 flights canceled across the country on a single day was proof that planes were being grounded amid turmoil in the country. “Absolutely no flight movement over China,” wrote one Twitter user on Sept. 24 while posting an image of the global flight tracking service FlightRadar24 that showed a handful of planes crossing the country. Others claimed that about 9,500 flights were canceled across China on Sept. 21, accounting for nearly 60% of flights that day. But experts say these numbers, as well as some images from flight tracking services, are being presented out of context. Ian Petchenik, director of communications for FlightRadar24, said the images appearing to capture the service’s dashboard over the weekend were likely taken during overnight hours of low flight traffic in China. He added that they also may reflect the fact that FlightRadar24’s display can only show so many flights on screen at a time, meaning if a user zooms out far enough, the number of flights in an area will seemingly disappear. Further, China’s population is not evenly distributed across the country. Because flight density varies greatly depending on the region, some areas are left looking sparse while other areas are more heavily trafficked. “If you’re not understanding what you’re looking at or you’re purposefully misrepresenting what you’re seeing, that becomes an unfortunate byproduct,” Petchenik said. FlightRadar24 data shows that just over 6,000 out of nearly 15,000 flights were canceled on Sept. 21, which Petchenik said falls in line with the high level of daily cancellations that China has recorded for more than two years. While airlines in the U.S., Europe and Australia, among others, reduced the number of scheduled flights in their flight programs amid the pandemic, many Chinese airlines opted not to remove any scheduled flights, instead canceling a large number of flights on a daily basis, Petchenik told the AP. “In no way is this surprising, concerning, suspenseful or anything,” he said. FlightRadar24 data also shows that the three Wednesdays preceding Sept. 21 all also logged more than 5,000 canceled flights. FlightAware, another major flight tracking data company, confirmed to the AP in a statement that its data listed more than 8,000 scheduled flights across China on Sept. 21, nearly 2,000 of which were canceled. Spokesperson Kathleen Bangs confirmed that the cancellations reflected normal air traffic patterns in China. “It’s not uncommon, in fact, it’s pretty much business as usual that we see very high cancellations out of China out of a number of major airports every day,” Bangs added. Cirium, an aviation analytics firm, also told the AP in a statement that Cirium found that the rate of flight cancellations in China on Sept. 21 was “very similar to other recent days.” Social media users spread the false claims of a military coup weeks before China’s ruling Communist Party is set to hold a key congress at which leader Xi Jinping is expected to be granted a third five-year term. But Xi reappeared on state television Tuesday after a several-day absence from public view. He was shown visiting a display at the Beijing Exhibition Hall, his first appearance since he returned from a regional summit in Uzbekistan last weekend. Under Chinese pandemic regulations, he would need to stay in quarantine for a week after returning.

    — Associated Press writer Sophia Tulp in New York contributed this report.

    ___

    Video of EU flag removal in Italy is from 2013, not 2022

    CLAIM: Video shows Italians taking down the European Union flag and replacing it with Italy’s flag after a right-wing group, Brothers of Italy, won its national election.

    THE FACTS: The video, filmed on Dec. 14, 2013, in Rome, shows a member of a neo-fascist group tearing down the E.U. flag, not Italians demonstrating after the election this week. Following the victory of a party with neo-fascist roots in the country’s national election on Monday, social media users are sharing a nearly 10-year-old video to falsely claim it shows a crowd’s reaction to what is set to be Italy’s first far-right-led government since World War II. The video shows a man climbing up a ladder to a balcony to remove the E.U. flag, displayed outside the E.U. Commission office in Rome. A crowd of people chant and wave Italian flags before police break up the group. “EU Flag Ripped Down as Right-Wing Party sweeps Italian elections,” an Instagram post, which features a screenshot of the video states. But the video was filmed and uploaded to YouTube on Dec. 14, 2013. It shows a member of CasaPound, a neo-fascist group, removing the flag. CasaPound said in a statement on its website on Dec. 14, 2013, that its then-vice president, Simone Di Stefano, had been arrested for taking the E.U. flag. The group stated that Di Stefano wanted to replace the E.U. flag with the tricolor flag to protest Italian involvement in the international organization. While it’s not immediately clear who first filmed the video, dozens of local news outlets picked up the footage and reposted it that year. CasaPound also used a still frame from the same footage in its statement about the event, showing a man in a red, white and green mask and black jacket holding the blue E.U. flag from a balcony of the commission office. The group shared the video on its YouTube page, with the caption in Italian: “CasaPound blitz at European Union headquarters – flag stolen, police charges – December 14, 2013.” On Monday, Brothers of Italy won the most votes in Italy’s national election, making Giorgia Meloni the country’s first woman premier, the AP reported. Italy’s move to the far right places a eurosceptic party in a position to lead a founding member of the European Union and its third-largest economy.

    ___

    Find AP Fact Checks here: https://apnews.com/APFactCheck

    ___

    Follow @APFactCheck on Twitter: https://twitter.com/APFactCheck

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  • FACT FOCUS: Biden cancer remark causes confusion

    FACT FOCUS: Biden cancer remark causes confusion

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    President Joe Biden’s speech at a former coal-fired power plant in Massachusetts led to widespread claims on social media that he made a significant announcement not about climate change, but about his health.

    Conservative politicians and political commentators focused on a clip from Biden’s Wednesday speech, in which he told a story about growing up near Delaware oil refineries, to assert that the president announced that he has cancer.

    In response, a White House spokesperson confirmed reports that Biden was referring to previously disclosed skin cancer that was removed before he became president — not announcing a new diagnosis.

    Here are the facts.

    CLAIM: Biden announced that he has cancer.

    THE FACTS: Biden appeared at the Somerset, Massachusetts, power station to announce new steps to combat climate change, calling it “an emergency” and promising more robust action.

    At one point during his speech, he discussed the impact of environmental pollution from oil refineries near his hometown, sharing an anecdote about his childhood.

    “And guess what? The first frost, you knew what was happening. You had to put on your windshield wipers to get, literally, the oil slick off the window,” Biden said, according to a White House transcript of his remarks. “That’s why I and so damn many other people I grew up (with) have cancer and why can — for the longest time, Delaware had the highest cancer rate in the nation.”

    Right-wing accounts quickly began sharing a clip of this remark with the claim that Biden was revealing that he had cancer.

    “BREAKING: JOE BIDEN ANNOUNCES HE HAS CANCER!!,” a Republican running for Congress in Florida wrote.

    “President Biden just said he has cancer. Is it true? Or is the Commander in Chief confused? Who knows!!,” another widespread tweet stated.

    But Andrew Bates, a White House spokesperson, confirmed on Twitter that Biden was referring to the publicly disclosed fact that he had skin cancer removed before he became president.

    In a November 2021 memo summarizing Biden’s health, Dr. Kevin O’Connor, Biden’s physician for more than a decade, acknowledged that Biden had “several localized, non-melanoma skin cancers removed with Mohs surgery before he started his presidency.”

    “These lesions were completely excised, with clear margins,” the report continued.

    Though Biden suggested emissions from oil refineries were responsible for his cancer, his doctor previously linked it to sun exposure.

    While discussing the cancer in his memo, O’Connor wrote that it is “well-established that President Biden did spend a good deal of time in the sun in his youth.”

    ___

    This is part of AP’s effort to address widely shared misinformation, including work with outside companies and organizations to add factual context to misleading content that is circulating online. Learn more about fact-checking at AP.

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  • AP FACT CHECK: Lake distorts Hobbs’ education votes in Ariz.

    AP FACT CHECK: Lake distorts Hobbs’ education votes in Ariz.

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    Arizona Republican gubernatorial candidate Kari Lake is misrepresenting the voting record of her opponent, Democrat Katie Hobbs, charging in a video released this week that her work in government shows Hobbs is “Anti-American and Un-Arizonan.”

    In a 3-minute social media video, set to dramatic music and featuring patriotic visuals, Lake claims that if Hobbs is elected governor “your kindergartner wouldn’t learn the Pledge of Allegiance, but your precious 5-year-old would be taught about sex.”

    But her suggestion is built on misrepresentations of Hobbs’ votes and the content of various Arizona education bills.

    Lake’s campaign did not respond to a request for comment. Sarah Robinson, a spokesperson for Hobbs, said in a statement that “Kari Lake’s latest political theater is just another distraction from her own extreme positions.”

    Here’s a look at the facts.

    LAKE: “As a legislator, Hobbs actually voted to block the Pledge of Allegiance, our national anthem, our Constitution, the Declaration of Independence and even the Mayflower Compact from being taught to the next generation of Americans right here in Arizona.”

    THE FACTS: Lake is distorting Hobbs’ voting record. When Hobbs was a state senator, she voted against Senate Bill 1289, which amended an existing law listing materials that teachers and school administrators are allowed to read or post in school facilities. That list includes the Pledge of Allegiance and the national anthem, among other documents. The bill added the Arizona state motto, “Ditat Deus,” which means God enriches, to the list. It also spelled out the wording of the national motto, adding “In God we trust,” to the list. No other changes were made.

    The bill, which was approved by lawmakers and signed into law, did not affect the portion of the law that permits school staff to read or post the Pledge of Allegiance, the national anthem, or the other documents Lake identified, experts say.

    “It’s an incorrect claim. It’s a charge that’s untrue,” said Paul Bender, a law professor at Arizona State University. “She voted simply not to add to those things, ‘In God we trust’ and ‘God enriches’.”

    “The state statute already set forth the items that may be read or posted in school buildings, including the national anthem,” said Paul Bentz, Republican pollster in Phoenix. “None of those items were in question.”

    If the bill had failed to pass, the original law allowing school staff to read or post materials such as the Declaration of Independence in schools would not have changed, Barrett Marson, a Phoenix-based Republican political consultant wrote in a text message to The Associated Press.

    In a tweet on Wednesday appearing to double down on her previous accusations, Lake added another claim: that Hobbs opposed displaying American flags. As evidence, she cited Senate Bill 1289, Senate Bill 1020, and Senate Bill 1152. An AP review of these bills found no instance in which Hobbs voted against displaying the flag in schools.

    ___

    LAKE, on what would happen in Hobbs’ Arizona: “Your precious 5-year-old would be taught about sex.”

    THE FACTS: As a state senator, Hobbs did sponsor a bill to require school districts to teach sex education in grades K-12. The bill, which didn’t pass, would have resulted in parents being required to proactively remove their child from being taught the curriculum, rather than opting in to participate.

    However, to claim that it would have led to 5-year-olds being taught about sex leaves out important context.

    The bill, introduced in the 2016 legislative session, would have mandated that the sex education program for kindergarten through 12th grade be “medically accurate, developmentally accurate and age-appropriate.” It defined age-appropriate as “topics, messages and teaching methods that are suitable to particular age and developmental levels, based on cognitive, emotional, social and experience levels of most students at that age level.”

    At the developmental stage of a 5-year-old, age-appropriate sex education largely involves learning about the concept of “good touch, bad touch” — not learning about sex as a physical act, experts say.

    “At the kindergarten level, age-appropriate sex education means things like learning the correct names of body parts, which has been found to be a protective factor against sexual abuse,” said Nora Gelperin, director of sexuality education and training at Advocates for Youth, an organization that supports comprehensive sex education. “It can also mean teaching kids that they need permission to touch someone else — the beginning of learning about personal boundaries. At this age, kids may also be taught to identify a safe person to talk to if they’re in trouble. All the lessons are in service of ensuring safety and respect.”

    Arizona is one of just five states that require parents to “opt-in” to sex ed classes, rather than having an opt-out system. State law bans sex education before 5th grade, and schools are not required to offer the courses at all. Students younger than 5th grade can only be offered instruction on HIV and sexual abuse prevention.

    ___

    EDITOR’S NOTE — A look at the veracity of claims by political figures.

    ___

    Find AP Fact Checks at http://apnews.com/APFactCheck

    Follow @APFactCheck on Twitter: https://twitter.com/APFactCheck

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  • Kim Kardashian pays over $1 million to settle SEC charges linked to a crypto promo on her Instagram

    Kim Kardashian pays over $1 million to settle SEC charges linked to a crypto promo on her Instagram

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    Reality TV star Kim Kardashian launched a private equity fund, Skky Partners, which she co-founded with Jay Sammons, a former partner at the investment firm Carlyle Group.

    Photo by James Devaney/GC Images via Getty Images

    Kim Kardashian’s crypto misadventure has landed her in hot water with federal regulators.

    The reality TV superstar and influencer has settled Securities and Exchange Commission charges that she failed to disclose a payment she received for touting a crypto asset on her Instagram feed, the agency announced Monday morning.

    “This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn’t mean that those investment products are right for all investors,” Gary Gensler, chairman of the SEC, said in a news release.

    Representatives for Kardashian didn’t immediately respond to a request for comment.

    Kardashian, who is reportedly worth $1.8 billion, agreed to pay $1.26 million to settle the charges over a promotion on Meta‘s Instagram for EthereumMax’s crypto asset, the SEC said. She will also cooperate with an ongoing investigation, and has agreed to not promote crypto securities for three years, the regulator added.

    However, Kardashian, who has built a media and lifestyle empire, neither admitted to nor denied the regulator’s findings, the SEC said.

    Kardashian has already felt regulatory heat over her EthereumMax promo, which she posted on Instagram in June of last year. She started the post by asking her millions of followers, “ARE YOU INTO CRYPTO??? THIS IS NOT FINANCIAL ADVICE BUT SHARING WHAT MY FRIENDS JUST TOLD ME ABOUT THE ETHEREUM MAX TOKEN.”

    Investors sued her, former NBA star Paul Pierce and superstar boxer Floyd Mayweather Jr. earlier this year over their promos for EthereumMax, accusing them of artificially inflating the value of the asset.

    The SEC on Monday said Kardashian failed to report that she was paid $250,000 to publish a post about EMAX tokens, a crypto asset offered by EthereumMax. The post, which featured the hashtag “#ad,” included a link to the EthereumMax website, which gives users instructions about how to buy the tokens, the regulator added.

    Her failure to disclose the payment was a violation of federal securities laws, the SEC said. She agreed to pay $260,000, which includes the payment she received, plus interest, in addition to the $1 million penalty, the agency added.

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  • What if Musk loses the Twitter case but defies the court?

    What if Musk loses the Twitter case but defies the court?

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    Twitter wants a Delaware court to order Elon Musk to buy the social media service for $44 billion, as he promised back in April. But what if a judge makes that ruling and Musk balks?

    The Tesla billionaire’s reputation for dismissing government pronouncements has some worried that he might flout an unfavorable ruling of the Delaware Court of Chancery, known for its handling of high-profile business disputes.

    Musk hopes to win the case that’s headed for an October trial. He’s scheduled to be deposed by Twitter attorneys starting Thursday.

    But the consequences of him losing badly — either by an order of “specific performance” that forces him to complete the deal, or by walking away from Twitter but still coughing up a billion dollars or more for breach of contract — has raised concerns about how the Delaware court would enforce its final ruling.

    “The problem with specific performance, especially with Elon Musk, is that it’s unclear whether the order of the court would be obeyed,” retired Delaware Supreme Court Justice Carolyn Berger told CNBC in July. “And the courts in Delaware — courts all over — are very concerned about issuing a decision or issuing an order that then is ignored, flouted.”

    Berger, who was also a vice chancellor of the Chancery Court in the 1980s and 1990s, stood by those concerns in an interview with The Associated Press but said she doubted the Delaware institution would go so far as to make him complete the deal.

    “The court can impose sanctions and the court can kind of coerce Musk into taking over the company,” she said. “But why would the court do that when what really is at stake is money?”

    Berger said she expects Twitter to prevail, but said a less tumultuous remedy for the company and its shareholders would make Musk pay monetary damages. “The court doesn’t want to be in a position to step in and essentially run this company,” she said.

    Musk and his lawyers didn’t respond to requests for comment.

    Other legal observers say such defiance is almost impossible to imagine, even from a famously combative personality such as Musk. He acknowledged he might lose in August in explaining why he suddenly sold nearly $7 billion worth of Tesla shares.

    “I take him at his word,” said Ann Lipton, an associate law professor at Tulane University. “He wants to win. Maybe he’s got his own judgment as to what the odds are. But he’s also being sort of practical about this. He’s getting some cash ready so he doesn’t have to dump his Tesla shares if it turns out he is ordered to buy the company.”

    A ruling of specific performance could force Musk to pay up his $33.5 billion personal stake in the deal; the price increases to $44 billion with promised financing from backers such as Morgan Stanley.

    The Delaware court has powers to enforce its orders, and could appoint a receivership to seize some of Musk’s assets, namely Tesla stock, if he doesn’t comply, according to Tom Lin, a law professor at Temple University.

    The court has made such moves before, such as in 2013 when it held Chinese company ZTS Digital Networks in contempt and appointed a receiver with power to seize its assets. But after coercive sanctions didn’t work, the receiver asked the court five years later to issue bench warrants calling for the arrest of two senior executives the next time they visited the U.S.

    Speculation that Musk could be threatened with jail time for failing to comply with a ruling is unrealistic, said Berger. “At least, not for the Court of Chancery,” said the former judge. “That’s not the way the court operates.”

    But more important, Lin said Musk’s legal advisers will strongly urge him to comply with the rulings of a court that routinely takes cases involving Tesla and other firms incorporated in the state of Delaware.

    “If you are an executive at a major American corporation incorporated in Delaware, it’s very hard for you to do business and defy the chancery court’s orders,” Lin said.

    Concerns about Musk’s compliance derive from his past behavior dealing with various arms of the government. In a long-running dispute with the U.S. Securities and Exchange Commission, he was accused of defying a securities fraud settlement that required that his tweets be approved by a Tesla attorney before being published. He publicly feuded with California officials over whether Tesla’s electric car factory should remain shut down during the early stages of the COVID-19 pandemic.

    He’s also taken a combative approach in Delaware Chancery Court, calling an opposing attorney a “bad human being” while defending Tesla’s 2016 acquisition of SolarCity against a lawsuit that blamed Musk for a deal rife with conflicts of interest and broken promises. He and his lawyers have other Delaware cases still pending, including one involving his compensation package at Tesla.

    “I think we’ve got a whole lot of players who, as loose a cannon as Elon Musk is, rely on the goodwill of the Delaware courts on an ongoing basis for their businesses,” Lipton said.

    Musk’s argument for winning his latest Delaware case largely rests on his allegation that Twitter misrepresented how it measures the magnitude of “spam bot” accounts that are useless to advertisers. But most legal experts believe he faces an uphill battle in convincing Chancellor Kathaleen St. Jude McCormick, the court’s head judge who is presiding over the case, that something changed since the April merger agreement that justifies terminating the deal.

    The trial begins Oct. 17 and whichever side loses can appeal to the Delaware Supreme Court, which is expected to act swiftly. Musk and Twitter could also settle the case before, during or after the trial, lawyers said.

    Delaware’s courts are well-respected in the business world and any move to flout them would be “shocking and unexpected,” said Paul Regan, associate professor of Widener University’s Delaware Law School who has practiced in Delaware courts since the 1980s. “If there was some kind of crisis like that, I think the reputational harm would be all on Musk, not the court.”

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  • These 20 stocks in the S&P 500 tumbled between 20% and 30% in September

    These 20 stocks in the S&P 500 tumbled between 20% and 30% in September

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    Stocks declined again on Friday, closing out September with large losses across the board as the rally from the June lows partway through August faded into memory.

    The S&P 500
    SPX,
    -1.51%

    fell 1.5% on Friday. The benchmark index slumped 9.3% for September, leading to a 2022 loss of 24.8%. The Dow Jones Industrial Average
    DJIA,
    -1.71%

    gave up 1.7% on Friday, for a September decline of 8.8%. The Dow has now fallen 20.9% for 2022. The Nasdaq Composite Index
    COMP,
    -1.51%

    pulled back 1.5% on Friday for a September drop of 10.5% and a year-to-date plunge of 32.4%. (All price changes in this article exclude dividends.)

    Below is a list of stocks in the S&P 500 that fell the most during September.

    It was the worst September performance for U.S. stocks since 2008, according to Dow Jones Market Data. William Watts looked back to see what poor performance during September may portend for October.

    Real estate leads the sector bloodbath

    All sectors of the S&P 500 were down during September, including five that fell by double digits:

    S&P 500 sector

    Sept. 30 price change

    September price change

    2022 price change

    Real Estate

    1.0%

    -13.6%

    -30.4%

    Communication Services

    -1.7%

    -12.2%

    -39.4%

    Information Technology

    -1.9%

    -12.0%

    -31.9%

    Utilities

    -2.0%

    -11.5%

    -8.6%

    Industrials

    -1.3%

    -10.6%

    -21.7%

    Energy

    -0.9%

    -9.7%

    30.7%

    Materials

    -0.3%

    -9.6%

    -24.9%

    Consumer Staples

    -1.8%

    -8.3%

    -13.5%

    Consumer Discretionary

    -1.8%

    -8.1%

    -30.3%

    Financials

    -1.1%

    -7.9%

    -22.4%

    Health Care

    -1.4%

    -2.7%

    -14.1%

    S&P 500

    -1.5%

    -9.3%

    -24.8%

    Source: FactSet

    Worst performers in the S&P 500 in September
    Company

    Ticker

    Sept. 30 price change

    September price change

    2022 price change

    Decline from 52-week intraday high

    Date of 52-week intraday high

    FedEx Corp.

    FDX,
    -2.52%
    -2.5%

    -29.6%

    -42.6%

    -44.4%

    01/05/2022

    V.F. Corp.

    VFC,
    -2.73%
    -2.7%

    -27.8%

    -59.2%

    -62.1%

    11/16/2021

    Lumen Technologies Inc.

    LUMN,
    -1.36%
    -1.4%

    -26.9%

    -42.0%

    -49.8%

    11/05/2021

    Ford Motor Co.

    F,
    -2.35%
    -2.4%

    -26.5%

    -46.1%

    -56.7%

    01/13/2022

    Charter Communications Inc. Class A

    CHTR,
    -2.96%
    -3.0%

    -26.5%

    -53.5%

    -59.8%

    10/07/2021

    Adobe Inc.

    ADBE,
    -1.10%
    -1.1%

    -26.3%

    -51.5%

    -60.7%

    11/22/2021

    Carnival Corp.

    CCL,
    -23.25%
    -23.3%

    -25.7%

    -65.1%

    -73.5%

    10/01/2021

    CarMax Inc.

    KMX,
    +1.32%
    1.3%

    -25.4%

    -49.3%

    -57.7%

    11/08/2021

    Advanced Micro Devices Inc.

    AMD,
    -1.22%
    -1.2%

    -25.3%

    -56.0%

    -61.5%

    11/30/2021

    Caesars Entertainment Inc.

    CZR,
    -0.49%
    -0.5%

    -25.2%

    -65.5%

    -73.1%

    10/01/2021

    Boeing Co.

    BA,
    -3.39%
    -3.4%

    -24.4%

    -39.9%

    -48.2%

    11/15/2021

    WestRock Co.

    WRK,
    -1.56%
    -1.6%

    -23.9%

    -30.4%

    -43.6%

    05/05/2022

    International Paper Co.

    IP,
    -1.22%
    -1.2%

    -23.8%

    -32.5%

    -44.0%

    10/13/2021

    Western Digital Corp.

    WDC,
    +1.15%
    1.1%

    -23.0%

    -50.1%

    -53.1%

    01/05/2022

    Newell Brands Inc.

    NWL,
    -0.57%
    -0.6%

    -22.2%

    -36.4%

    -47.5%

    02/16/2022

    Eastman Chemical Co.

    EMN,
    +0.34%
    0.3%

    -21.9%

    -41.2%

    -45.1%

    01/19/2022

    Nike Inc. Class B

    NKE,
    -12.81%
    -12.8%

    -21.9%

    -50.1%

    -53.6%

    11/05/2021

    Seagate Technology Holdings PLC

    STX,
    -2.11%
    -2.1%

    -20.5%

    -52.9%

    -54.8%

    01/05/2022

    PVH Corp.

    PVH,
    -3.55%
    -3.6%

    -20.4%

    -58.0%

    -64.3%

    11/05/2021

    Dish Network Corp. Class A

    DISH,
    -2.19%
    -2.2%

    -20.3%

    -57.4%

    -70.1%

    10/04/2021

    Source: FactSet

    Click on the tickers for more about each company, including developments that led to their share-price declines.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.

    FedEx Corp.
    FDX,
    -2.52%

    tops the list because of investors’ harsh reaction to the company’s sales and profit warning on Sept. 16. Claudia Assis and Greg Robb explained the implications of FedEx’s warning for the broad economy.

    Shares of Carnival Corp.
    CCL,
    -23.25%

    fell 23% on Friday (for a September decline of 26%) after the cruise giant again reported sales and earnings below what analysts had expected, even though it reported increasing its capacity usage to 92%.

    Nike Inc.
    NKE,
    -12.81%

    was down 13% on Friday for a September decline of 22%, after the company warned that discounting to clear inventory would continue to affect its earnings performance. Here’s how analysts reacted.

    Adobe Inc.
    ADBE,
    -1.10%

    made the list because of investors’ doubt about its dilutive $20 billion deal to acquire Figma.

    The bulk of CarMax’s
    KMX,
    +1.32%

    drop for the month came on Sept. 29, after the used-car dealer missed sales and earnings estimates and indicated that consumers were beginning to resist high prices.

    Don’t miss: Dividend yields on preferred stocks have soared. This is how to pick the best ones for your portfolio.

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