[World] New Hampshire student admits threatening Republican congressman Matt Gaetz

BBC News world-us_and_canada 

Image source, Getty Images

Image caption,

Florida congressman Matt Gaetz

A US college student has pleaded guilty to threatening to kill Republican congressman Matt Gaetz.

Allan Poller, 24, admitted he left an expletive-laden voicemail for the lawmaker on 29 March.

Poller said: “If you keep on coming for the gays, we’re gonna strike back… We will kill you if that’s what it takes.”

According to the plea agreement, the student made the call after becoming “emotional and intoxicated” while watching videos on TikTok.

Poller, a student at Keene State College in the state of New Hampshire, faced a federal charge of transmitting a threat in interstate commerce.

While authorities did not name Mr Gaetz in court documents, his office told US media he was the subject of the threat.

A source familiar with the investigation also confirmed to the BBC’s US partner CBS News that Mr Gaetz was the member of Congress targeted.

Lawmakers across the country have faced a rise in harassment and threats in recent years.

The charge carries up to five years in prison, but the government is recommending a three-year probation sentence, according to court documents obtained by CBS.

Poller was originally charged with two counts, but one was dropped as a part of the plea deal.

The BBC has reached out to a lawyer for Poller and Mr Gaetz’s office for comment.

In a statement to CNN, Poller’s attorney Jesse Friedman said his client “recognises that hate in any form is wrong and hurtful”.

“He accepts responsibility for his actions and did not intend for his acts to cause harm or a threat to anybody,” added Mr Friedman.

Poller left the voicemail after Mr Gaetz’s office did not answer the phone. The foul-mouthed message said the Florida lawmaker would take a bullet to the head.

“And then if you want to keep going down that path, you know who’s next,” he said.

Poller will be sentenced in January.

 

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House GOP launch serious talks about rule upheaval after Scalise’s stunning exit from speaker race

Latest & Breaking News on Fox News 

House Republicans are once again meeting behind closed doors on Friday morning after Majority Leader Steve Scalise’s stunning exit from the speakership race on Thursday night. 

GOP lawmakers are meeting at 10 a.m. and will have to check cellphones at the door, according to an invitation obtained by Fox News Digital.

They are going to be considering four amendments to the House Republican Conference Rules that would raise the threshold needed to select a candidate for speaker before that person is nominated on the House floor. 

DEMS MOUNT PRESSURE ON 18 REPUBLICANS IN BIDEN-WON DISTRICTS AHEAD OF NEW HOUSE SPEAKER VOTE

Three of them would mandate that a speaker-elect has the support of a House-wide majority before getting a floor vote. That is almost guaranteed to lead to hourslong debates behind closed doors — a lawmaker can only lose four GOP backers to still win without Democratic votes. 

Amendments offered by Rep. Chip Roy, R-Texas, and Rep. Bill Huizenga, R-Mich., would mandate a Q&A session between the candidate and the conference if the person failed to get 217 votes on the first round of a secret ballot vote.

REPUBLICANS GAETZ, GREENE BLAST PARTY’S CLOSED-DOOR SPEAKER DISCUSSIONS

Roy’s amendment would give candidates a maximum of three chances at a secret ballot vote, and if they fail to get to 217, others will be considered.

The amendment offered by Huizenga punishes members who blindside their House Republican colleagues — lawmakers would lose their committee assignments if they declare themselves in support of a speaker designate within the GOP conference meeting but then vote against them on the House floor.

Rep. William Timmons, R-S.C., offered an amendment to raise the threshold to 218 votes which also calls for a Q&A portion. The Timmons amendment does not offer a set number of voting rounds.

The fourth, by Rep. Kat Cammack, R-Fla., would require a speaker designate to win 80% of the conference vote behind closed doors.

It comes after Scalise was elected the House GOP’s candidate for speaker with a simple majority on Wednesday. Some lawmakers had speculated at the time that a full-floor vote could be held that same day, but it became clear that Scalise and his allies had underestimated the broad cross-section of opposition he was facing.

House Republicans could vote on a new candidate today, but as of early on Friday morning, no one has declared yet. 

All eyes are on House Judiciary Chairman Jim Jordan, R-Ohio, who won 99 ballots to Scalise’s 113 earlier this week. House Majority Whip Tom Emmer, R-Minn., and Speaker Pro Tempore Patrick McHenry, R-N.C., are other names that have been floated — though neither have them have expressed interest in the gavel themselves.

 

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Hamas’ ‘Day of Rage’ draws heightened security in major American cities, attention from the FBI

Latest & Breaking News on Fox News 

Local and federal law enforcement in Washington, D.C., told Fox News Digital Friday they are ramping up their presence in the nation’s capital as Hamas’ call for a “Day of Rage” — which Israel says is targeting its people and Jews – is putting American cities on alert. 

The moves come as large protests are already brewing in the Middle East, with massive crowds turning out in Lebanon, Yemen and Iraq to show support for Palestinians.

In the West Bank, Jordanian riot police also dispersed hundreds of pro-Palestinian protesters trying to reach a border area as thousands of others held anti-Israel demonstrations throughout the country, witnesses told Reuters. 

U.S. Capitol Police and the Metropolitan Police Department say that although there are no specific threats to the District of Columbia or Congress, they are increasing their visibility Friday out of an abundance of caution. 

LIVE UPDATES: ISRAEL AT WAR WITH HAMAS 

“We are enhancing security throughout the Capitol Complex. Some of what we are doing will be visible, but for safety reasons we cannot provide the public details about all of the resources that we are putting into protecting the Congress,” the U.S. Capitol Police told Fox News Digital in a statement. “Our dedicated teams are working around the clock to coordinate with our law enforcement and intelligence partners across the country to keep everyone safe.” 

Fencing has been put up around the U.S. Capitol Building, according to Fox5 DC. 

Metro Police said in its own statement that it is “working with our local, state, and federal law enforcement partners to monitor events unfolding worldwide. 

“Out of an abundance of caution, MPD will have increased visibility around the city and at places of worship to help ensure the safety of our community,” it added. “MPD has been in contact with multiple community partners throughout the past week and we remain in contact with them.” 

Elsewhere, the FBI told Fox News on Thursday that it is aware of “calls for global action on Friday, October 13th that may lead to demonstrations in communities throughout the United States. 

“We are working closely with our law enforcement partners across the country to share information and identify and disrupt any threats that may emerge,” it said. 

SOME JEWISH AMERICANS PLAN TO SEND KIDS TO SCHOOL, WORSHIP IN DEFIANT MESSAGE AGAINST HAMAS 

The New York City Police Department also said last night that it has “increased our uniform deployments at large gatherings and cultural sites to ensure public safety.” Additionally, the Los Angeles Police Department said the same day that it is assessing the situation as well. 

The Israel National Security Council and Ministry of Foreign Affairs said it is recommending all Israelis abroad to “be alert, keep away from the demonstrations and protests and – if necessary – check with local security forces regarding possible protests and disturbances in the area.”

“Against the background of Operation Swords of Iron, the Hamas leadership has called on all of its supporters around the world to hold a ‘Day or Rage’… (Friday, 13 October 2023) and attack Israelis and Jews,” the agencies said in a joint statement. “It is reasonable to assume that there will be protest events in various countries that are liable to turn violent.”

“The National Security Council, the security services and Ministry of Foreign Affairs will continue to act everywhere in order to safeguard the security of Israeli citizens around the world,” the statement added. 

Fox News’ Brooke Singman contributed to this report. 

 

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A bipartisan group of senators wants a reported deal with Qatar to freeze Iran assets made official

Congress 

A growing group of bipartisan senators are pressing the State Department to make a refreeze of $6 billion in Iran assets official policy following Hamas’ attack in Israel last weekend.

In a letter addressed to Secretary of State Anthony Blinken, led by Sen. Jacky Rosen (D-Nev.), 14 senators addressed reports that the Biden administration and Qatar quietly reached a deal to pause or potentially refreeze the assets.

Read the full letter.

But these senators are pushing for something more concrete than a private agreement.

“While we understand that there are reports of an agreement with Qatar to freeze $6 billion in Iranian assets, we urge you to make this decision official U.S. policy and continue your efforts to limit Iran’s ability to provide support to Hamas,” the letter reads.

The administration agreed to unfreeze the assets earlier this year as part of a prisoner-swap deal between Iran and the U.S. A condition of unfreezing the $6 billion was for the funds to go toward humanitarian aid only. But as questions emerge on whether Iran assisted Hamas in its attack, some lawmakers want the deal reassessed.

National Security Council spokesman John Kirby at a press conference Thursday did not outright confirm reports of a refreeze deal with Qatar, but noted “every single dime of that money is still sitting in the Qatari bank.”

Asked about the reported deal at a press conference Thursday, Blinken said “none of the funds that have now gone to Qatar have actually been spent” but that the U.S. does “retain the right to freeze them” at any time.

Of the eight Democrats who signed the letter, six are up for reelection in vulnerable seats next year, including Rosen and Sens. Joe Manchin (W.Va.), Tammy Baldwin (Wis.), Bob Casey (Pa.), Sherrod Brown (Ohio) and Jon Tester (Mont.), in addition to Kyrsten Sinema (I-Ariz.). The two exceptions were Sens. Mark Kelly (Ariz.) and Catherine Cortez Masto (Nev.), who both won reelection last year.

Five Republicans were on the letter, including Sens. Joni Ernst (Iowa), Marsha Blackburn (Tenn.), Dan Sullivan (Alaska), Todd Young (Ind.) and James Lankford (Okla.).

The Senate is out this week and is slated to return Monday. Members from both parties have said Israel-related issues, including confirming Jack Lew to be ambassador to Israel, should be high on the agenda.

It’s unclear what other aid packages could be sent to Israel from Congress. The House, however, still has no speaker, putting any bicameral efforts at a standstill.

“We look forward to working with you to assist Israel in its time of need and ensure it has the resources and tools needed to defend itself against Iranian-sponsored terrorism,” the letter said.

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Philadelphia Fed President Harker advocates holding interest rates ‘where they are’

US Top News and Analysis 

Patrick Harker President Federal Reserve Bank of Philadelphia, August 24, 2023.
David A. Grogan | CNBC

Philadelphia Federal Reserve President Patrick Harker said Friday he thinks the central bank can stop raising interest rates.

“Absent a stark turn in what I see in the data and hear from contacts … I believe that we are at the point where we can hold rates where they are,” Harker said in prepared remarks for the Delaware State Chamber of Commerce. “Look, we did a lot, and we did it very fast.”

As a voting member this year on the rate-setting Federal Open Market Committee, Harker’s words carry extra weight as policymakers contemplate their next step forward. Though his remarks align with what several other officials have said recently, they are perhaps the most explicit endorsement yet of a halt in rate hikes.

The Fed has raised its benchmark borrowing rate 11 times since March 2022, totaling 5.25 percentage points. In September, the FOMC chose to hold rates steady as members differed over where inflation is headed.

In recent days, multiple Fed officials have cited the tightened financial conditions brought on by a surge in Treasury yields as helping the central bank in its quest to slow the economy and bring down inflation.

However, Harker did not rely on the market moves but instead said the Fed simply has made substantial progress in bringing down prices without causing a surge in unemployment or otherwise tanking the economy. He said it can now watch the impact that its rate hikes are having and use incoming data as its guide to where policy needs to go.

“Holding rates steady will let monetary policy do its work. I am sure policy rates are restrictive, and as long they remain so, we will steadily press down on inflation and bring markets into a better balance,” he said. “By doing nothing, we are still doing something. And, actually, we are doing quite a lot.”

Reports this week showed that 12-month rates for inflation are coming down but remain above the Fed’s 2% annual target. Separate readings on producer and consumer prices both were higher than Wall Street economists had expected, raising the specter that the Fed might have to do more.

However, Harker said he won’t be moved by one month of data, noting that the Fed’s preferred measure, the personal consumption expenditures price index, in August showed its smallest monthly increase since 2020.

“We will not tolerate a reacceleration in prices,” he said. “But second, I do not want to overreact to the normal month-to-month variability of prices.”

“We remain data dependent but patient and cautious with the data,” he added.

Harker noted that the Fed remains attuned to a variety of risks, from the banking turmoil earlier this year to rising credit card balances and labor strife. But he said the economy overall has held up, and he thinks unemployment will at most edge higher as more people enter the workforce and labor market imbalances work themselves out.

Still, he did not provide any indication that he expects cuts anytime soon.

“I do subscribe to the new moniker, ‘higher for longer.’ I didn’t coin it, but my expectation is that rates will need to stay high for a while,” he said.

However, added that he “would have no hesitancy to support further rate increases” if inflation were to rebound.

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Dow futures rise 100 points, head for winning week after strong bank earnings, yields retreat: Live updates

US Top News and Analysis 

Traders on the floor of the NYSE, Oct. 12, 2023.
Source: NYSE

Stock futures were slightly lower early Friday as traders pored through major bank earnings.

S&P 500 futures edged 0.2% higher, while Dow Jones Industrial Average futures gained 0.3%. Nasdaq-100 futures added less than 0.1%.

JPMorgan Chase and Wells Fargo kicked off third-quarter earnings for major financial firms on Friday. Shares of JPMorgan Chase gained 1.1% after the company topped profit and revenue expectations. Wells Fargo rose 2.2% in the premarket after surpassing Wall Street’s earnings and revenue expectations.

Shares of Citigroup jumped 3% after posting higher-than-expected revenue, fueled by solid growth in both the institutional clients and personal banking.

As major bank stocks rose, U.S. Treasury yields declined.

The yield on the 10-year Treasury was down by over 11 basis points at 4.598%. The 2-year Treasury yield was nearly 5 basis points lower at 5.02%. Yields and prices have an inverted relationship.

Besides fears over earnings guidance and another potential rate hike, investors have also turned their concerns to the ongoing Israel-Hamas war, which could potentially threaten global oil supply and prices. But Nancy Tengler, chief investment officer at Laffer Tengler Investments, believes that investors might be losing sleep for little reason.

“We’ll have some companies that will disappoint but I think for the most part, earnings are probably going to surprise investors to the upside,” she said in an interview with CNBC. “Investors are too pessimistic. We expect that companies are going to be able to manage this pretty well.”

Tengler added she thinks stocks will end the year with a rally, led by the technology and industrials sectors.

Traders are also watching for preliminary consumer sentiment data for October out Friday.

All three major indexes ended the Thursday’s session in the red, with the Dow dropping more than 173 points. The S&P 500 slid 0.6% along with the tech-heavy Nasdaq Composite. The major averages also snapped four-day winning streaks.

Even though the three major averages ended Thursday with losses, they are each on pace for weekly gains. The S&P 500 is up 0.9%, while the Dow is up nearly 0.7% on the week. The Nasdaq Composite is the outperformer of the three, up 1% through Thursday’s close.

This would be the third positive week in a row for the Nasdaq, and the second straight positive week for the S&P 500. The Dow is also set to snap a string of three straight weekly declines.

Thursday’s losses came after the latest consumer price index report revealed that inflation still stubbornly persists, pushing bond yields higher. CPI rose 0.4% in September, and gained 3.7% from 12 months earlier.

Citigroup stocks rises as quarterly revenue tops $20 billion

Shares of Citigroup rose more than 2% in premarket trading after the bank’s third-quarter report showed stronger-than-expected revenue.

Here is how the bank’s results compared to estimates from analysts surveyed by LSEG, formally Refinitiv.

Earnings per share: $1.63. Not comparable to the expected $1.21 due to divestitures. Excluding divestitures, earnings per share were $1.52.Revenue: $20.14 billion, vs. expected $19.31 billion

Citigroup saw solid year-over-year growth in both its institutional clients and personal banking and wealth management units.

— Jesse Pound

Shares of Dollar General jump on Gordon Haskett upgrade

Dollar General‘s latest leadership change could help re-stabilize the company and put it on track toward growth again, according to research firm Gordon Haskett. 

Analyst Chuck Grom upgraded shares to buy from hold after the company announced former CEO Todd Vasos would be returning and replacing Jeff Owen as chief executive on Thursday.

The stock jumped 7.2% Friday during premarket trading. CNBC Pro subscribers can read more about the upgrade here.

— Hakyung Kim

Netflix shares fall 2% Friday premarket

Netflix shed 2% Friday before the bell following a downgrade from Wolfe Research.

Analyst Peter Supino downgraded the streaming service to peer perform from outperform. He said the company’s premium valuation may not be able to hold up against falling growth expectations.

Stock Chart IconStock chart icon
Netflix shares fall Friday premarket

To read more about his downgrade, click here.

— Hakyung Kim

UnitedHealth reports better-than-expected earnings, shares jump

UnitedHealth shares were up 1.6% after the health insurance giant posted earnings of $6.56 per share for the third quarter, exceeding an LSEG estimate of $6.32 per share. Revenue of $92.4 billion was also above expectations.

Revenue from premiums and services topped analyst expectations. The company also raised its full-year earnings per share guidance.

— Fred Imbert

JPMorgan results top expectations

JPMorgan Chase reported third-quarter revenue of $40.69 billion, more than the LSEG analyst consensus of $39.63 billion. The bank said earnings per share for the period was $4.33, but it was not immediately clear whether that could be compared to the $3.96 consensus estimate from LSEG. It did appear to be a beat, but not clear by how much. Overall, net income was up 24% for the quarter and net revenue was up 15% excluding items related to the First Republic takeover. Higher rates helped the bank more than expected with interest income topping expectations.

There shares were slightly in the green following the results.

“Currently, U.S. consumers and businesses generally remain healthy, although, consumers are spending down their excess cash buffers,” noted CEO Jamie Dimon in the earnings press release.

—John Melloy

BlackRock reports mixed third-quarter results

Asset management giant BlackRock reported mixed results for the third quarter, sending the stock slightly lower in the premarket. The company earned $10.91 per share, easily exceeding an LSEG estimate of $8.26 per share. Revenue, however, was in line at $4.52 billion.

“For the first time in nearly two decades, clients are earning a real return in cash and can wait for more policy and market certainty before re-risking. This dynamic weighed on industry and BlackRock third quarter flows,” CEO Larry Fink said in a statement.

— Fred Imbert

Oil jumps on tighter U.S. sanctions on Russian crude sales

Oil prices popped Friday after the U.S. strengthened sanctions against crude exports out of Russia, adding fuel to supply concerns around the world. West Texas Intermediate futures traded 4% higher at $86.29 per barrel. Brent crude advanced 3.9% to $89.33 per barrel.

— Fred Imbert, Sam Meredith

Watch bank shares ahead of Friday’s earnings

JPMorgan Chase, Wells Fargo and Citigroup are on deck to report their latest quarterly earnings Friday morning.

For 2023, the three stocks are well ahead of the SPDR S&P Bank ETF (KBE). JPMorgan is posting an 8.7% gain this year, while Wells Fargo is off nearly 3.8% and Citigroup is down more than 8%. This compares to the nearly 20% loss KBE is facing in a year that has come with higher interest rates and slowing demand for loans.

JPMorgan and Citigroup are close to flat in the past month, but Wells Fargo has lost 6.5% in that period. All three are on pace for modest weekly gains. Friday’s results could sway the stocks during the session.

Read more about the upcoming bank earnings reports here.

Darla Mercado, Ethan Kraft

Recovery will be the theme of the third-quarter earnings season, says Ed Yardeni

A strong third-quarter earnings season could set up markets for a year-end rally, according to Ed Yardeni.

The founder of Yardeni Research believes that earnings bottomed out in the second quarter and should be followed be a recovery in the third.

“What really came down is the profit margin because companies got squeezed but somehow or other, companies are starting to figure out ways to make their profit margin go up. The analysts consensus expectations are showing that,” he told CNBC’s “Closing Bell” on Thursday.

Against a macroeconomic backdrop of higher rates, Yardeni also believes that mega-cap tech companies could be a good bet, since they don’t have as much debt and are therefore less exposed to interest rate risks.

“I think tech could actually turn out to be the safe haven in an environment where interest rates are going to be higher for longer,” he said.

— Lisa Kailai Han

Shares of Dollar General rally nearly 8% in extended trading

Dollar General stock climbed nearly 8% higher in post-market trading hours after the company announced it was reinstating former CEO Todd Vasos.

Stock Chart IconStock chart icon
DG 1-day chart

Vasos, who held the position from June 2015 to November 2022, will take the reins immediately from successor Jeff Owen. During Owen’s time in the role, the company faced declining sales growth and mounting criticism for its unsafe working conditions.

On Thursday, Dollar General also lowered its full-year profit guidance. The company now expects earnings of about $7.10 to $7.60 per share, versus prior forecasts of between $7.10 to $8.30 per share.

Read more about Todd Vasos’ return to Dollar General here.

— Lisa Kailai Han, Gabrielle Fonrouge, Jacob Pramuk

Stock futures are little changed

Stock futures traded near flat on Thursday evening.

Dow Jones Industrial Average futures fell 31 points, or 0.09%. S&P 500 futures and Nasdaq 100 futures were both marginally unchanged.

— Lisa Kailai Han

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COVID-driven isolation is ‘lonely existence’ for family, as man says he’s been ‘abused’ for mask wearing

Latest & Breaking News on Fox News 

A family whose members are still “shielding” due to COVID more than three years after the pandemic started said they feel “forgotten” as the rest of the world moves on.

Rob Boxall and his family, who lived in the United Kingdom, said that visitors have to isolate for two weeks before the family can see them, as SWNS, the British news service, reported. 

Boxall’s wife, Mandy Boxall, has had seven COVID jabs — but still reportedly has no protection from the coronavirus.

FAUCI’S MASKING MESSAGE AMID RISING COVID CASES HAS DOCTORS SOUNDING OFF: ‘WILL NOT REDUCE THE SPREAD’

Mandy Boxall is in remission from blood cancer — while daughter Mollie Boxall has cerebral palsy.

The trio have remained at home since March 2020 and said that for them, their isolation is a “lonely existence.” 

Rob Boxall, a former health care worker, apparently also lost his job due to the strains placed on his life by the pandemic.

The family said they’ve had to make their own rules to protect themselves even as millions of others have moved forward after COVID.

Boxall, 57, of Herne Bay in Kent, also said he’s been mocked and ridiculed by others for continuing to wear a mask after mandatory masking was dropped.

COVID HOSPITALIZATIONS ARE STILL A ‘PUBLIC HEALTH THREAT’ FOR AMERICA’S OLDER ADULTS, SAYS CDC

“I have been abused in the street for wearing a mask,” Boxall said, as SWNS reported.

“There was a fella who walked along and said, ‘Take your f****** mask off'” — and more.

Baxall said he thought to himself, “What harm is it doing you?”

Mandy Boxall, 61, became ill during the Christmas holiday season in 2019 — and was diagnosed with non-Hodgkin lymphoma at the beginning of 2020, SWNS reported.

Her chemotherapy was completed in June of the same year — and she started cancer maintenance treatment, which completely wiped her immune system out, the family noted.

She said she became one of some 2.2 million people identified by the National Health Service as being clinically extremely vulnerable (CEV), along with her daughter Mollie, who is 31.

Said Rob Boxall of his wife, “Mandy has had seven vaccines against COVID, but still has no antibodies. We were told if she caught the virus, she would not fare well, which was a nice way of saying she would not survive.”

Boxall said of the family’s struggles during their isolation, “There is no social life and I have to talk to friends on the phone. If I do meet a friend, it is in my back garden, so you have to choose a day with good weather.”

He also said, “Once winter hits, our lives become more secluded and isolated. You have your good days, but isolation is a very lonely existence. You do feel, with the way society has gone back to normality, that you’ve been forgotten about.”

Boxall also said he himself suffered from stress, anxiety and depression in early 2020 “as I was trying to deal with my wife’s cancer.”

NEW COVID VACCINE PUSH IS ‘ANTI-HUMAN,’ SAYS FLORIDA SURGEON GENERAL: ‘MAJOR SAFETY CONCERN’

He said his employers allowed him to work from home for a period of time — but not forever. 

“My main priority was keeping my family safe, so I lost my job,” he said, adding that he went onto Universal Credit. (Universal Credit in the U.K. is a payment for people over age 18 but under state pension age, who are on a low income or out of work.)

The Boxalls also said they’ve missed out on precious moments with close family members, including grandchildren.

Rob and Mandy Boxall have another daughter, who has two young sons.

“We see them as much as we can,” said Rob Boxall, “but a lot of it is socially distanced.”

He added, “My grandson was diagnosed with autism and to not be able to hug your daughter and say [that] everything will be fine is very difficult for us.”

A recent report from Versus Arthritis and the University of Manchester in the U.K. revealed the brutal toll that COVID isolating has had on people’s lives, including some who were forced to stop living with their children and others who lost their jobs.

The report also indicated that COVID isolators feel that society treated them like “second-class citizens” after lockdowns were lifted.

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Pharmaceutical company AstraZeneca, which helped develop one of the COVID vaccines, has been working on a drug trial called Supernova which, if successful, could lead to a new drug to help fight COVID in immune-compromised people, according to reports.

Said Rob Boxall, “If the Supernova trial works and it is passed, there is the possibility we could come out of it,” he said.

In three weeks, the Boxalls said they intend to pay privately for antibody tests — and Boxall said that if the results are good, they may be able to return to normal life.

“When you look back at the first lockdown with the mental health problems [it] caused, three years does take its toll.”

For more Lifestyle articles, visit www.foxnews.com/lifestyle.

 

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Microsoft closes acquisition of Activision Blizzard after lengthy regulatory review

US Top News and Analysis 

In this article

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Satya Nadella, CEO of Microsoft Corp., during the company’s Ignite Spotlight event in Seoul, Nov. 15, 2022.
SeongJoon Cho | Bloomberg | Getty Images

Microsoft has closed its acquisition of video game publisher Activision Blizzard, according to a regulatory filing by Activision on Friday. It’s Microsoft’s largest deal in its 48-year history and comes after the company quelled concerns about competition from European regulators and gained a favorable ruling from a U.S. district judge.

The deal gives Microsoft a hefty portfolio of video game franchises, including Call of Duty, Crash Bandicoot, Diablo, Overwatch, StarCraft, Tony Hawk Pro Skater and Warcraft. The game developer generated $7.5 billion in revenue in its latest fiscal year, a small fraction of the $212 billion in sales reeled in by Microsoft.

Microsoft CEO Satya Nadella, who took the helm in 2014, is aiming to diversify the company’s business beyond its core areas such as operating systems and productivity software. Activision has been both a partner to Microsoft and a competitor. It’s one of the few large companies that releases popular games that can costs hundreds of millions of dollars to produce.

Regulatory pushback delayed the acquisition. When it announced the deal in January 2022, Microsoft said it expected to close the transaction by the end of June 2023. In July, the two companies agreed to extend the deadline to Oct. 18.

The Federal Trade Commission in the U.S., the European Commission and the U.K.’s Competition and Markets Authority (CMA) all raised objections to the transaction.

Microsoft made concessions that placated Europe regulators. The company agreed to give consumers in the European Economic Area free licenses to stream their Activision Blizzard games, along with free licenses to streaming providers so European gamers can play the games through the cloud.

Microsoft signed agreements with console rivals Nintendo and Sony, promising them access to Call of Duty games for 10 years. And Microsoft made similar arrangements with cloud-gaming providers, including Boosteroid, Nvidia, Nware and Ubitus.

The FTC In July asked the San Francisco federal district court for a preliminary injunction to stop Microsoft and Activision from closing their deal before receiving full approval. But after five days of hearings, a judge sided with the two companies. The agency took the case to the U.S. Appeals Court for the 9th Circuit, which denied a motion to temporarily stop the consummation of the deal.

Satisfying UK officials has proven more complicated. In August, Microsoft said that, assuming the deal closed, game publisher Ubisoft would receive cloud streaming rights for Activision’s games for 15 years. That change to the proposal should resolve lingering concerns about the deal, the CMA said on Sept. 22.

Activision ended the second quarter with $587 million in net income on $2.2 billion in revenue, which was up 34% year over year.

WATCH: Microsoft deal with Activision Blizzard set to clear final hurdle

VIDEO3:5003:50
Microsoft-Activision Blizzard set to clear final hurdle as U.K. regulators signal approval

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Chuck Schumer will lead a bipartisan trip to Israel this weekend.

Congress 

Senate Majority Leader Chuck Schumer will lead a bipartisan trip to Israel this weekend in the aftermath of last week’s attacks that killed hundreds, his office announced.

“Leader Schumer will meet with the new unity government including Prime Minister Benjamin Netanyahu and Benny Gantz, as well as President Isaac Herzog,” the statement read.

In addition, Schumer plans to outline “what resources the United States can provide to support Israel on all fronts,” the statement said, even amid the ongoing House speaker paralysis.

He won’t be the first: Sen. Joni Ernst (R-Iowa) and several House members were in the country earlier this week. Rep. Cory Mills (R-Fla.) has been working to evacuate dozens of stranded Americans.

A bipartisan group of House lawmakers led a vigil at the Capitol last night to mourn the more than 1,000 killed in the attacks.

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Here are Friday’s biggest analyst calls: Nvidia, Tesla, Dollar General, Amazon, Meta, SolarEdge & more

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Here are Friday’s biggest calls on Wall Street: TD Cowen reiterates Amazon as outperform TD said it sees the e-commerce giant’s earnings report to be “above consensus” when it reports its quarterly results later this month. “We like AMZN shares into 3Q earnings as we are 0.8% above consensus revenue with growth driven by 3P sales, advertising and AWS growth.” HSBC initiates American Express as buy HSBC said it sees healthy earnings growth for American Express . “Aspirational brand, premium client base, leverage to secular growth drivers, and strong profitability underpin our positive view.” Bank of America reiterates Nvidia as buy Bank of America said it’s standing by Nvidia as a top pick “Big-picture, generative AI requires data center scale compute optimization, and NVDA’ s systems approach stands in contrast to the narrow silicon-only approach of its rivals.” Mizuho reiterates Meta as buy Mizuho said it’s standing by its buy rating heading into earnings later this month. “We are positive on Meta into the print as our agency checks indicate ad revenue growth is tracking ahead of consensus, and we expect further operating leverage from increased efficiency.” Stephens initiates Campbell’s as buy Stephens said the stock is at an “inflection point.” ” Campbell’s market share is stabilizing in many categories and returning to growth in others, while shares still trade more than one standard deviation.” Bernstein reiterates Tesla as underperform Bernstein concluded in an analysis of Tesla that the company is more of an automaker than a tech company. “On net, we lean more towards the sentiment that Tesla is a car company, and the car industry is brutally competitive, and will not allow volume participants to have sustained outsized margins. As Warren Buffett has noted, a tough industry will ultimately triumph over great management, and we believe that it is the case for autos/ Tesla.” Barclays upgrades Varonis Systems to overweight from equal weight Barclays said it sees numerous positive catalysts ahead for the software company. “More broadly, we think VRNS is transitioning to SaaS [software-as-a-service] faster, and will have catalysts ahead as the maintenance conversion accelerates.” Stephens initiates Hershey as buy Stephens said the chocolate company has many “quality” brands. “Within the salty snacks category, Hershey has high-quality brands that are poised to benefit from emerging consumer trends towards subcategories like flavored pretzels and popcorn.” JPMorgan initiates Post Holdings as overweight JPMorgan said in its initiation of the food and cereal company that it sees robust free-cash flow. “Importantly (and a key reason for our OW rating), Post generates strong cash flow, which may be applied in large quantities to reduce debt and buy back stock over the next two years.” Read more about this call here. Morgan Stanley downgrades JD.com to equal weight from overweight Morgan Stanley said in its downgrade of the stock that it sees a slowing recovery. “We have low conviction in a strong recovery in growth in 2024 and onward: This reflects our forecast for JD’s 4Q23 revenue growth to be similar to that of 3Q23, even though the base is both lower (Covid lockdown in 4Q22) and cleaner.” Read more about this call here . Gordon Haskett upgrades Dollar General to buy from hold Gordon Haskett said in its upgrade of the stock that it’s bullish on the company’s new CEO. “After the close (10/12), Dollar Genera l announced that former CEO Todd Vasos would be returning to the company immediately … replacing former CEO Jeff Owen who had been at the top-spot since late last year. Read more about this call here. Wolfe downgrades Netflix to peer perform from outperform Wolfe said in its downgrade of Netflix that it’s concerned about unreasonable growth forecasts. “2024 ARPU expectations look full, while today’s paid-sharing net adds lead to tomorrow’s gross add shortfalls. Valuation is reasonable but wouldn’t withstand falling growth expectations.” Read more about this call here. Baird upgrades Mister Car Wash to outperform from neutral Baird said it sees an attractive risk/reward for the stocj. “While our upgrade isn’t a call on 3Q, we believe the post-2Q guidance reset sufficiently lowered the 2H23 bar.” Citi upgrades Oshkosh to buy from neutral Citi said the children’s clothing retailer has earnings upside. “As the sector’s earnings revision cycle matures, we think OSK is an outlier with earnings momentum accelerating into 2024.” Needham upgrades Lam Research and Applied Materials to buy from hold Needham it sees a semiconductor recovery as soon as this quarter. “If the current trend is sustained, we think global semiconductor sales growth could resume as early as 4Q23.” Northland upgrades SolarEdge to outperform from market perform Northland said investors should buy the dip in shares of SolarEdge . “Solar demand is weak, Israel is at war, an inventory correction, a strong dollar is a headwind, and a competitor pre-announced. It is hard to imagine things could get much worse. Stock is down 50% since it reported Q2 on 8/1, likely reflecting the short-term outlook.” Oppenheimer downgrades Tractor Supply to perform from outperform Oppenheimer it sees a “sales expansion lull” for the company. “Nearer-term, however, we are increasingly concerned that TSCO shares do not yet discount adequately for a potentially pro-longed, post-pandemic sales expansion lull, likely to occur as COVID-related tailwinds gradually abate.” Wells Fargo reiterates Lululemon as overweight The firm said the lifestyle retailer continues to “buck the trend.” “We hosted LULU CFO, Meghan Frank & VP IR, Howard Tubin for investor meetings in California. Mgmt sees solid momentum in the business w/ share gains across the globe, despite a choppy retail backdrop. All in, LULU continues to buck the trend.”

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