9/6/22

A big payout from an e-cigarette maker. And a popular sportscar brand is about to go public. Another day of retreat on Wall Street… as the strong labor market keeps pointing to more high interest rate hikes by The Fed.

The Dow lost 173 points to close at 31,145
The S&P fell 16 points.
The Nasdaq dropped 85 points, or three quarters of a percent

**********

JUUL will pay $440 million to settle with 33 states over the marketing of its high-nicotine products. The states said JUUL marketed its e-cigarettes to teenagers through launch parties and product giveaways. The company still faces hundreds of *personal lawsuits on behalf of teenagers who say they became addicted to their product.

**********

Ireland has fined Instagram $400 million for failing to protect children’s data. An investigation started two years ago. It focused on kids between 13 and 17 who were allowed to operate business accounts. Instagram plans to appeal.

**********

You may not be able to afford the *car, but you might be able to afford the *stock. Porsche is officially going public in the coming weeks. About 12% of Porsche will be offered to investors. No word yet on the stock price. The IPO could value the carmaker at around $85 billion.

**********

From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.