Indian economy back in action: Goyal

Johnson & Johnson plans to split into two companies

Johnson & Johnson is splitting into two companies, separating the division that sells Band-Aids and Listerine, from its medical device and prescription drug business.

The company selling prescription drugs and medical devices will keep Johnson & Johnson as its name, the company said Friday.

The new consumer health company will house brands including Neutrogena, Aveeno, Tylenol, Listerine, Johnson’s, and Band-Aid.

A name was not disclosed for the new company.

Details are sparse, but the company expect the split to occur in the next two years.

The announcement comes just days after General Electric said that it plans to split into three separate companies.

Kubota Recalls Utility Vehicles For Crash, Injury Risks

Grapevine, Texas-based Kubota Tractor Corp. is recalling certain utility vehicles citing crash and injury risks, the U.S. Consumer Product Safety Commission said.

The recall involves about 48,875 units of model year 2013 through 2021 base model Kubota RTV-X1100C Model utility vehicles manufactured in the United States. The recalled units have serial numbers ranging from 10001 through 67546.

The vehicles were sold at authorized Kubota dealers nationwide from April 2013 through September 2021 for between $21,300 and $22,950.

According to the agency, the floor mats on the recalled Kubota utility vehicles can warp or degrade and interfere with the throttle pedal, posing crash and injury hazards.

The recall was initiated after Kubota received one report of a loss of control that resulted in black eyes and minor bruising.

Consumers are urged to contact an authorized Kubota dealer either for a new floormat installed by the dealer that will be secured by rivets to the floor, or for a modification to the existing floormat by trimming the mat and then securing it by rivets to the floor.

In recent vehicle recalls, Luyuan Inc. in late September recalled about 6,800 units of Luyuan Youth All-Terrain Vehicles or ATVs for possible crash hazard and violation of federal ATV safety standard. Venom Motorsports also recalled about 500 units of Youth Model ATVs including electric and gas ATVs.

Pre-market Movers: AFIB, SNDL, STRN, TISI, RLX…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 07.00 A.M. ET).

In the Green

Sundial Growers Inc. (SNDL) is up over 21% at $0.87
Stran & Company, Inc. (STRN) is up over 19% at $5.80
RLX Technology Inc. (RLX) is up over 17% at $5.28
Missfresh Limited (MF) is up over 15% at $4.78
OppFi Inc. (OPFI) is up over 14% at $8.58
Moving iMage Technologies, Inc. (MITQ) is up over 14% at $3.08
Everspin Technologies, Inc. (MRAM) is up over 13% at $7.44
Co-Diagnostics, Inc. (CODX) is up over 10% at $9.58
Society Pass Incorporated (SOPA) is up over 9% at $56.92
CohBar, Inc. (CWBR) is up over 7% at $0.70
Avenue Therapeutics, Inc. (ATXI) is up over 5% at $1.42
Focus Universal Inc. (FCUV) is up over 5% at $9.60

In the Red

Acutus Medical, Inc. (AFIB) is down over 23% at $5.12
Team, Inc. (TISI) is down over 19% at $2.17
AEye, Inc. (LIDR) is down over 12% at $5.70
Qurate Retail, Inc. (QRTEA) is down over 11% at $8.85
Lordstown Motors Corp. (RIDE) is down over 11% at $6.08
Eneti Inc. (NETI) is down over 8% at $9.30
Athersys, Inc. (ATHX) is down over 6% at $1.20

Listen: Trump Defends Capitol Rioters Chanting 'Hang Mike Pence!'

Donald Trump and Mike Pence weren’t on the best of terms on Jan. 6 as the former vice president helped certify the results of the 2020 election. Trump’s supporters clearly weren’t fans of Pence, either, with many of them chanting, “Hang Mike Pence!” as they stormed the Capitol following Trump’s speech at the Ellipse. They even set up a gallows outside the building.

Jonathan Karl, whose new book Betrayal chronicles the final days of the Trump’s time in office, asked the former president whether he was concerned for Pence’s safety on Jan. 6. When Trump said he wasn’t, Karl mentioned those who were chanting for Pence to be hanged. Trump responded by defending them. “Well, the people were very angry,” he said in audio published Friday morning by Axios. “Because it’s common sense that you’re supposed to protect … If you know a vote if fraudulent, how can you pass along a fraudulent vote to Congress?

Pence of course did not know the election was fraudulent, probably because no evidence had or has emerged indicating any resembling significant fraud occurred. Reality is an afterthought, though. Trump wanted Pence to somehow stop the certification of the election results, and Pence didn’t do that, effectively destroying his relationship with the former president. Trump reportedly didn’t call Pence on Jan. 6 or in the days following Jan. 6 to ensure he was safe.

Indian economy back in action: Goyal

Indian economy is back in action and it is clear from several indicators such as rising exports and increasing foreign direct investment (FDI) inflows into the country, Commerce and Industry Minister Piyush Goyal said on Friday.

He said that merchandise exports during April-October this fiscal stood at $ 232 billion and total FDI during the first four months of this fiscal rose by 62 %.

There was growth in employment over the same month last year, and manufacturing PMI rose to 55.9 in October while services PMI reached a decade high of 58.4 in the month, Mr. Goyal said.

"India is back in action and the decade is shaping up to be a growth decade, with our exports surging and FDI in-flows and investments following a high growth trajectory," he said at a virtual conference.

He said that global sentiments are changing from ‘Why India’ to ‘Why not India’ to now ‘Make in India for the world’ and serve the world from India.

Ensuring transparent, trustworthy and resilient supply chains is at the core of trade revival and India has emerged as a source of resilience and a trusted partner during COVID-19, he said.