Supreme Court Dismisses J&J Appeal Against The $2bln Fine

Pharma giant Johnson & Johnson (JNJ) is in deeper waters after the Supreme Court rejected the company’s appeal to review the $2.14 billion reparations awarded against the company in June 2020.

The original verdict of $4.7 billion was awarded by a Missouri jury in 2018 after 22 women blamed Johnson and Johnson for using asbestos in their talcum powders and baby products, which has led to their ovarian cancer.

While the amount of the verdict was reduced to $2.14 billion, the present amount is going to stay unchanged as the company is entangled in 21,800 cases regarding the same issue. The company said that it has already rolled back the baby-powders due to the allegations and has been facing a drop in demand due to the filings.

The prosecutor for the women, Mark Lanier, praised the decision and said, “This decision sends a clear message to the rich and powerful: You will be held to account when you cause grievous harm under our system of equal justice under law.”

Justice Brett Kavanaugh and Samuel Alito took no part in the case as the former’s father was vocal against labeling the talc with a carcinogenic warning and the latter owns stock in the company. The company released a statement saying, “Decades of independent scientific evaluations confirm Johnson’s Baby Powder is safe, does not contain asbestos, and does not cause cancer.”

Domino’s Pizza To Hire 5000 Workers

Fast food giant Domino’s Pizza Inc. (DPZ) is seeking to hire 5,000 chefs and delivery drivers in the UK, as demand for food deliveries continues to increase while staff who joined during the pandemic return to their former jobs.

The pizza delivery chain said it had recruited just nearly 6,000 people in 2020 to meet the demand, which included event managers, taxi drivers and hairdressers. However, as Covid restrictions have eased, many employees are returning to their old jobs.

The company now needs more staff for its 1,100 UK branches, most of which are run by franchisees. The firm has previously announced plans to open additional 200 outlets.

“Throughout our recruitment drive last year, we were overwhelmed by the response from people of all walks of life,” said Nicola Frampton, operations director at Domino’s.

“I’m proud we were able to play a part by offering people the opportunity to continue working and earning when times were tough. But as people start to reunite, customer demand is showing no signs of slowing and so we’re now looking for 5,000 new recruits.”

The hospitality industry is currently facing a staffing crisis, with businesses trying to fill thousands of vacancies. It is estimated that the industry is short of 188,000 workers, a vacancy rate of 9%.

Hewlett Packard Enterprise Q2 adjusted earnings of $0.46 per share

Below are the earnings highlights for Hewlett Packard Enterprise (HPE):

-Earnings: $259 million in Q2 vs. -$821 million in the same period last year.
-EPS: $0.19 in Q2 vs. -$0.64 in the same period last year.
-Excluding items, Hewlett Packard Enterprise reported adjusted earnings of $612 million or $0.46 per share for the period.
-Revenue: $6.70 billion in Q2 vs. $6.01 billion in the same period last year.

-Guidance:
Next quarter EPS guidance: $0.38 to $0.44
Full year EPS guidance: $1.82 to $1.94

Zoom Video Communications, Inc. Profit Climbs In Q1

Zoom Video Communications, Inc. (ZM) announced earnings for its first quarter that climbed from the same period last year.

The company’s profit came in at $227.4 million, or $0.74 per share. This compares with $27.0 million, or $0.09 per share, in last year’s first quarter.

Analysts had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 191.3% to $956.2M from $328.2 million last year.

Zoom Video Communications, Inc. earnings at a glance:

-Earnings (Q1): $227.4 Mln. vs. $27.0 Mln. last year.
-EPS (Q1): $0.74 vs. $0.09 last year.
-Analysts Estimate: $0.99
-Revenue (Q1): $956.2M vs. $328.2 Mln last year.

-Guidance:
Next quarter EPS guidance: $1.14-$1.15
Next quarter revenue guidance: $985.0-$999.0 Mln
Full year EPS guidance: $4.56-$4.61
Full year revenue guidance: $3.97-$3.99 Bln

Rockies’ Trevor Story is “going to be fine” after MRI on right elbow comes back clean

On Deck

• Thursday: Rangers RHP Mike Foltynewicz (1-5, 4.31) at Rockies RHP Jon Gray (4-5, 3.71), 1:10 p.m., ATTRM
• Friday: Athletics RHP Frankie Montas (5-5, 4.45) at Rockies LHP Austin Gomber (3-5, 4.55), 6:40 p.m., ATTRM
• Saturday: Athletics LHP Cole Irvin (3-7, 4.12) at Rockies LHP Kyle Freeland (0-0, 4.50), 7:10 p.m., ATTRM

Joel Embiid doubtful for Philadelphia 76ers’ NBA playoff Game 5 vs. Washington Wizards

Philadelphia 76ers All-Star center Joel Embiid is doubtful with right knee soreness for Game 5 against the Washington Wizards on Wednesday.

Embiid left Monday’s Game 4 in the first quarter after falling hard to court as he dribbled by Washington’s Robin Lopez and attempted a layup. Embiid missed the shot and remained on the ground. It looked like he landed hard on his tailbone/back. He checked out of the game and hobbled to the locker room. The Sixers said he would not return due to right knee soreness.

The Wizards won, 122-114, forcing a Game 5. Without Embiid, Wizards big men Daniel Gafford and Lopez controlled the paint, combining for 28 points, nine rebounds and seven blocks – five by Gafford.

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