Monday, 17 Jun 2024

Applied DNA’s stock plunges as stock and warrant offering comes a day after a 4-fold rally

Cirque du Soleil co-founder in custody in Tahiti over alleged cannabis cultivation

Guy Laliberté, a Canadian entrepreneur and co-founder of the Cirque du Soleil, has been taken into custody in French Polynesia over claims of cannabis cultivation, according to his company.

Lune Rouge, a Montreal-based entrepreneurial organization founded by Laliberté, said Wednesday morning that Laliberté was being questioned by authorities in Tahiti.

Principal who famously tried to ban books charged with child porn

Sen. Harris pitches 10-hour school day bill to voters

The Daily Caller editorial director Vince Coglianese discusses Sen. Kamala Harris’ talking points on extending school days to 6 p.m.

WINCHESTER, Ky. (AP) — A Kentucky principal who once made headlines for trying to ban books with what he deemed inappropriate content has been indicted on child pornography charges.

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MILITARY FAMILIES SUE, CITING UNSAFE LIVING CONDITIONS

News outlets reported Tuesday that a grand jury charged 54-year-old Phillip Todd Wilson, principal of the Clark County Area Technology Center, with 17 child pornography possession and distribution charges. Kentucky State police filed 15 counts each of the charges against Wilson in August.

Clark County Schools officials told news outlets they were “shocked and dismayed” at the accusations. WKYT-TV reports the education department no longer employs Wilson.

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The Lexington Herald-Leader says that when Wilson was the principal of Montgomery County High School in 2009, he fought to ban books with what he labelled “homosexual” or otherwise inappropriate material, including sex, abuse and drugs.

Amazon Alexa, Apple Siri, Google Assistant Could Be Hacked Using Lasers: Study

Voice assistants like Amazon.com’s (AMZN) Alexa, Apple Inc.’s (AAPL) Siri and Google Assistant can be hacked using lasers, a new study has found.

A team based in Tokyo and at the University of Michigan discovered that these voice assistant-enabled devices can be hacked hitting on its microphones with beams of laser.

Research revealed that researchers tricked a Google Home into opening a garage door from 230 to 350 feet away, by focusing lasers with a telephoto lens.

“Microphones convert sound into electrical signals. The main discovery behind light commands is that in addition to sound, microphones also react to light aimed directly at them,” the researchers wrote.

A hacker could access the devices and buy stuff online, control smart home switches and remotely unlock and start a car that’s linked to the speaker.

Fed’s Powell testifies to Joint Economic Committee: Live blog

Fed Chairman Jerome Powell will testify to the Joint Economic Committee starting at 11 a.m. Eastern.

The central bank chief’s prepared remarks have already been released. Powell told lawmakers the baseline outlook remains favorable, helped by the central bank’s three quarter-point rate cuts from July through October.

In his remarks, Powell was upbeat about the economic outlook, seeing continued moderate growth, low inflation.

Powell leaned a bit dovish, as he stressed there are “notable risks” facing the economy from the sluggish global economy to “trade developments.” He also highlighted a concern with low inflation expectations.

Stocks opened lower after Powell confirmed interest rates were on hold.

The Dow Jones Industrial Average DJIA, +0.03% was down 18 points in early morning trading.

MarketWatch senior Washington correspondent Greg Robb (@grobb2000) and reporter Jeffry Bartash (@jbartash) will live blog the testimony beginning at 11:00 a.m. Eastern.

Working Adults 65 And Older To Outnumber Teens In Restaurants: Study

The number of working adults 65 and older are expected to outnumber working teens three to one, according to a new study.

The National Restaurant Association released its Restaurant Industry 2030 Report, which is based on input from experts, futurists and government statistics. The report was created along with American Express and Nestle Professional.

The number of adults in the labor force 65 and older is expected to reach a record high of 16.1 million by 2028, while number of teenagers is expected to decline to 5.1 million by 2028, its lowest level in 65 years.

Meanwhile, restaurant sales are expected to reach $863 billion in 2019 and grow to $1.2 trillion in 2030, according to the report. The major driver of that growth will be off-premises ordering — delivery, takeout, drive-thru, and other mobile-centric experiences.

“The restaurant industry is at a crossroads as it finds ways to respond to consumer demand for meal and snack solutions away from home,” said Hudson Riehle, senior vice president of the Research and Knowledge Group for the National Restaurant Association.

By 2030, as many as 17.2 million people are expected to be employed in a restaurant.

“Restaurant owners are swiftly adapting across their businesses to meet the needs and wants of guests,” said Hudson Riehle, senior vice president of the Association’s research and knowledge group, in a statement. “The radical transformation of the last decade will change the way the industry operates going forward.”

Applied DNA’s stock plunges as stock and warrant offering comes a day after a 4-fold rally

Shares of Applied DNA Sciences Inc. APDN, -72.74% plummeted 72% to pace all Nasdaq losers on Wednesday, after the the company announced the pricing of a public offering of stock and warrants, the day after the stock rocketed more than 4-fold. The molecular technologies company said it was selling 2.285 million common shares and warrants to buy up to 2.285 million shares to the public, with each share of common stock being sold together with one warrant at a combined price of $5.25 a share plus warrant. The warrants will be immediately exercisable at $5.25 per share, and will expire in five years. The stock closed at $19.00 on Tuesday, up 332% from $4.40 on Monday, after the company announced the "successful DNA tagging of leather" at a Asia-based tannery. "The work follows a successful research project undertaken within the UK that demonstrated SigNature DNA could be successfully used to trace the hide of an animal from a farm to the product in a store," the company said in a statement Tuesday. "Traceability is essential when supporting claims of sustainability or the humane treatment of the animals." The stock has still tumbled 67% year to date, while the S&P 500 SPX, -0.05% has run up 23%.

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