YETI Recalls 1.9 Mln Soft Coolers

YETI has recalled 1.9 million soft coolers and gear cases due to the risk of ingesting magnet.

According to the Consumer Product Safety Commission, the magnet-lined closures can fail and result in detached magnets, posing a risk of serious injury or death if ingested. When two or more high-powered magnets are swallowed, the ingested magnets can attract to each other, or to another metal object, and become lodged in the digestive system. This can result in perforations, twisting and/or blockage of the intestines, infection, blood poisoning and death.

The company has received 1,399 reports of the magnet-lined closures degrading or failing, including reports of missing or detached magnets. No magnet ingestions or injuries have been reported.

The recall involves the YETI Hopper M30 Soft Cooler 1.0 and 2.0, Hopper M20 Soft Backpack Cooler and SideKick Dry Gear Case. The products have a main-pocket closure lined with high-powered magnets, which are enclosed in a heat-sealed plastic strip.

The M20 Soft Backpack Cooler measures about 18 inches wide and 18 inches high; the M30 Soft Cooler 1.0 and 2.0 is about 25 inches wide and 17 inches high; and the SideKick Dry Gear Case is about 11 inches wide and 7 inches high.

The recalled products were sold at Dick’s Sporting Goods, ACE Hardware, Academy Sports + Outdoors, YETI and other stores nationwide and online at www.yeti.com and www.amazon.com from March 2018 to January 2023 for about $50 for the SideKick Dry Gear Case, $325 for the Hopper M20 Soft Backpack Cooler and between $300 and $350 for the Hopper M30 Soft Cooler 1.0 and 2.0.

European Economic News Preview: ECB Monetary Policy Decision Due

The monetary policy announcement from the European Central Bank is the major event due on Thursday, headlining a light day for the European economic news.

At 3.00 am ET, Statistics Norway releases monthly GDP data for January. The mainland Norway is forecast to shrink 0.2 percent on month in January, reversing a 0.4 percent rise in December.

At 4.00 am ET, the State Secretariat for Economic Affairs is scheduled to release Swiss Spring economic forecast.

At 5.00 am ET, Italy’s Istat releases final consumer and harmonized prices for February. The initial estimate showed that consumer price inflation slowed to 9.2 percent from 10.0 percent in January.

At 9.15 am ET, the European Central Bank is set to announce the outcome of the governing council meeting in Frankfurt. Despite the US banking stress, the ECB is expected to stick to its tightening stance. Economists widely expect the bank to raise the benchmark refi rate by 50 basis points to 3.50 percent.

At 9.45 am ET, ECB President Christine Lagarde holds press conference.

Philly Fed Index Indicates Slightly Slower Contraction In March

The Federal Reserve Bank of Philadelphia released a report on Thursday showing regional manufacturing activity contracted at a slightly slower rate in the month of March.

The Philly Fed said its diffusion index for current activity inched up to a negative 23.2 in March from a negative 24.3 in February, with a negative reading indicating a contraction. Economists had expected the index to climb to a negative 14.5.

The uptick by the headline index came despite an accelerated contraction in new orders, as the new orders index tumbled to a negative 28.2 in March from a negative 13.6 in February.

The report also showed a substantial downturn by shipments, with the shipments index plunging to a negative 25.4 in March from a positive 8.7 in February.

The number of employees index also slumped to a negative 10.3 in March from a positive 5.1 in February, indicating a decrease in employment.

Looking ahead, the Philly Fed said most future indicators weakened, suggesting firms continue to have tempered expectations for growth over the next six months.

The diffusion index for future general activity decreased for the second consecutive month, falling to a negative 8.0 in March from a positive 1.7 in February.

Certara Stock Gains 11%, Set To Join S&P SmallCap 600

Shares of Certara, Inc. (CERT) are gaining over 11% on Thursday morning as the company is set to join S&P SmallCap 600.

CERT is currently trading at $22.85, up $2.29 or 11.14%, on the Nasdaq. The stock opened its trading at $21.91 after closing Wednesday’s trading at $20.56. The stock has traded between $10.60 and $24.66 in the past 52-week period.

Certara will replace Exponent Inc. (EXPO) in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, March 22. Exponent will replace IAA Inc. (IAA) in the S&P MidCap 400.

Wall Street finds its footing even as worry about regional banks continues.

The S&P 500 climbed by midday, but shares of First Republic Bank and other regional lenders continued to slide.

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Man stabbed friend in heart and posted video of dead body to Snapchat

A man who posted videos of his dead friend on Snapchat, after stabbing him in the heart, has been found guilty of murder.

20-year-old Mark Jones denied murdering 19-year-old Kyle Walley in Wrexham on July 11 2021, despite the court being shown footage, posted online, of Mr Walley lying dead whilst Jones kicked his body.

In a separate clip, Jones showed bloodstained hands to the camera and claimed he had “stabbed up” Mr Walley and was “going to do time”.

Pfizer Recalls 4.2 Mln Units Of Nurtec ODT Tablets

Drug giant Pfizer Inc. (PFE) has recalled 4.2 million units of migraine therapy Nurtec ODT, due to failure to meet child-resistant packaging requirements.

The recall specifically involves prescription drugs Nurtec ODT 75 mg orally disintegrating tablets sold in cartons containing one blister card of 8 tablets. According to the Consumer Product Safety Commission, the recalled prescription drugs are not in child-resistant packaging, as required by the law, which poses a risk of poisoning if the contents are swallowed by young children.

No incidents or injuries have been reported. However, the company has asked its customers to immediately secure the recalled product out of the sight and reach of children and contact Pfizer for a free child-resistant pouch to store the product. Once the product is secured, consumers can continue to use it as directed.

The recalled products were sold at pharmacies nationwide from December 2021 through March 2023.