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Contigo Water Bottles Recalled due to Kids Choking and Detachable Spout Risk

Steve Murphy

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Contigo Water Bottles Recalled due to Kids Choking and Detachable Spout Risk

Contigo, a Chicago based company’s million of kids cleanable water bottles are causing a choking hazard to children. According to the US Consumer Safety Commission, the Contigo water bottles have recalled by the company after receiving complaints from the consumers.

The commission received the 149 complaints including 18 incidents causing spout in a child’s mouth. Hence, the bottles are recalled and immediately taken from the children.

Contigo bottles were already sold at retailers nationwide including Target, Walmart, and Costco- recall notice on Consumer Product Safety website. The Contigo Water Bottle Recall Notice states “People who already purchased the Contigo water bottles should stop using them.The bottles should take away from children and contact Contigo for inspection and instruction.”

One of the Contigo spokeswoman said ” Child safety is utmost important for Contigo. Hence are working to quickly correct the issue and provide a solution.” She added, ” No injuries have reported.”

About Recalled Contigo Bottles and “Free Replacement lid” for Faulty Products

About 5.7 million Contigo bottles have sold including about 157,000 in Canada and about 28,000 in Mexico. All these bottles are sold individually as well as in two-packs and three-packs.

The bottles are in three sizes that are 13 ounces, 14 ounces, and 20 ounces. However, the bottles come in four colors that is solid graphics, stainless steel and stainless steel solid. Contigo bottles were sold at the cost in between $9 and $24 as well as online.

Contigo-water bottles-recalled

Image: CPSC

For the replacement of faulty products, Contigo has decided to supple ” Free Replacement Lid.” The replacement lid will have the black base and the black cover over the silicone spout.

The free replacement form is available on the company website for consumers to order a free replacement lid. “Only black spout base and the black cover of the Contigo bottles are included to recall and replace,” states Company Website.

Steve Murphy has handled various businesses throughout his career and has a deep domain knowledge. He founded Report Door in an attempt to bring the latest news to its readers. He is glued to the stock market most of the times and just loves being in touch with the developments in the business world.

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Stocks register gains on cautious hopes of economic recovery

Michael Leahy

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Stocks register gains on cautious hopes of economic recovery

US stocks rebounded Monday as Wall Street cautiously bet on an economic recovery despite mounting unrest over police brutality and continued tensions with China.

The Dow Jones industrial average rose as much as 93.12 points, or 0.3 percent, to 25,476.23, after shedding 0.5 percent at the open.

The S&P 500 and the Nasdaq similarly clawed back early losses in choppy trading to rise as much as 0.2 and 0.5 percent, respectively.

Wall Street appeared focused on the prospects of the economy shaking off the coronavirus crisis despite a weekend of violent protests across the nation sparked by the police killing of George Floyd in Minneapolis.

“History shows effectively no correlation between social, political turmoil and stock markets,” said David Trainer, CEO of investment research firm New Constructs. He noted that the market posted a significant gain in 1968, a year marred by civil unrest and two major political assassinations.

Investors also shrugged off China’s Monday threat of retaliation against President Trump’s move to start ending the US’s special trade relationship with Hong Kong after Beijing moved to restrict the territory’s autonomy.

The protests and China tensions “just get dwarfed by the fact that the economy everywhere is coming back online, and I just don’t know how the market moves away from that,” said Jim Paulsen, chief investment strategist at the Minneapolis-based Leuthold Group.

Some recent economic data has suggested that the US economy is starting to turn around after the coronavirus pandemic sparked the worst downturn since the Great Depression.

Reports released Monday showed manufacturing activity improving last month in both the US and China as the world emerged from lockdowns aimed at controlling the virus. New jobless claims in the US have also fallen steadily in recent weeks, though Friday’s monthly jobs report is expected to show unemployment at or near 20 percent.

Optimism about an economic reopening has helped spur a significant rally on Wall Street since March, when the virus crisis tanked global markets. The S&P ended May just about 10.3 percent below its all-time high reached in February.

With Post wires

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Coty shakes off Kylie Jenner problem, surges after KKR buys stake

Michael Leahy

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Coty shakes off Kylie Jenner problem, surges after KKR buys stake

That was one quick makeover.

After getting dinged last week for its ties to Kylie Jenner, beauty products seller Coty announced a $1 billion investment and a management shakeup — sending the stock up 20 percent, to $4.36, in early-afternoon trading.

Coty on Monday said buyout firm KKR will be acquiring a 60 percent stake in Coty’s hair and nail brands, including Wella, Clairol and OPI, in a deal that values the business at $4.3 billion.

The news added some much-needed sheen to Coty’s stock, which plummeted 13 percent on Friday after Forbes accused Kylie Jenner of lying to the press about her wealth, including the financial success of her Kylie Cosmetics business. Coty bought a 51 percent stake in Kylie Cosmetics for $600 million in November with plans to use her social media following to better sell to young people.

Jenner has denied the allegations, including that she presented forged financial information when meeting with the magazine known for its wealth rankings to make herself look richer. The parent company of CoverGirl and Kylie Cosmetics also named Coty’s chairman, Peter Harf, as CEO — its fourth chief executive barely four years amid declining sales. Harf had previously been CEO from 1990 to 2001.

Harf’s appointment was unexpected because the company in February said former Jimmy Choo executive Pierre Denis would assume the reins at the end of May, succeeding Pierre Laubies.

The reason for the change is unclear but the company said Denis, who also resigned from the board, will remain as an adviser to the company as it embarks on a mission to shave its expenses by 25 percent.

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Gilead study finds remdesivir helps some coronavirus patients

Michael Leahy

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Gilead study finds remdesivir helps some coronavirus patients

Gilead Sciences’ antiviral drug remdesivir showed signs of helping certain coronavirus patients in a study showing better results from a shorter course of treatment, the company said Monday.

People with moderate COVID-19 pneumonia who took a five-day treatment of remdesivir were 65 percent more likely to show “clinical improvement” at day 11 than people who received standard care, according to results of the phase-three study Gilead released.

Patients who got a 10-day course of remdesivir also had “favorable” odds of improvement compared to standard care, the California-based company said — but they were not statistically significant, raising questions about why a longer course of treatment did not work better.

“The lack of benefit in the 10-day arm is a surprise, in our view,” Bloomberg Intelligence analysts Marc Engelsgjerd and Jenna Li said in a note. “We need details on the standard-of-care arm and expected a greater benefit, given this was an open-label study.”

Gilead shares dropped as much as 4.4 percent, to $74.40, on the news Monday. The company said it plans to submit the full research data to a peer-reviewed journal in the coming weeks.

The results still added to the evidence that remdesivir can help treat the deadly coronavirus disease that has killed more than 100,000 Americans. The US Food and Drug Administration approved it for emergency use last month after a federal trial showed it could help speed recovery.

“The additional data we have in hand today will further guide our research efforts, including evaluating treatment earlier in the course of disease, combination studies with other therapies for the most critically ill patients, pediatric studies and the development of alternate formulations,” Dr. Merdad Parsey, Gilead’s chief medical officer, said in a statement Monday.

First developed to treat Ebola, remdesivir remains an experimental drug and can only be used to treat severely ill COVID-19 patients, according to Gilead. The company says the medicine was “generally well-tolerated” among the moderately sick patients it studied, though some experienced nausea, diarrhea and headache.

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