Oil Prices Fall As Inflation Worries Rise

Novo Nordisk Recalls Levemir, Tresiba, Fiasp, Novolog, Xultophy Product Samples

Danish pharmaceutical company Novo Nordisk A/S is recalling 1,468 product samples of Levemir, Tresiba, Fiasp, Novolog and Xultophy to the consumer level, due to improper storage temperature conditions, the U.S. Food and Drug Administration said.

The recall only impacts product samples and does not impact product that has been broadly distributed to pharmacies or mail-order services. The affected product can be identified by looking for the batch number or lot number located on the product or carton.

These products are used to lower blood glucose levels in people with diabetes and are packaged in cartons with either a vial, pen-injector, such as FlexPen or FlexTouch, or a cartridge – PenFill.

According to the agency, if product samples are exposed to temperatures below 32°F, it could cause a lack of efficacy and damage to the cartridge and pen-injectors. The use of improperly stored vial, cartridge or pen-injector could cause a risk that the user might not receive the right amount of medicine as intended which may lead to hyperglycemia or hypoglycemia resulting in adverse health consequences ranging from limited to life-threatening.

However, Novo Nordisk has not received any reports of serious adverse events or injuries related to this recall to date.

The company said it has notified all physician offices that received affected samples and requested to return all impacted samples.

Harley-Davidson launching LiveWire electric motorcycle brand

2020 Harley-Davidson LiveWire test ride

The LiveWire is one of the first battery-powered bikes from a major motorcycle maker and a dramatic departure for Harley-Davidson. Does it have the stuff to electrify the brand? Fox News Autos editor thew a leg over one to find out.

Harley-Davidson is going electric … under a different name.

(Harley-Davidson)

The motorcycle maker is launching a standalone brand called LiveWire to sell its upcoming lineup of battery-powered bikes.

The company released a LiveWire model in 2019 under the Harley-Davidson name, but will follow it up with the first LiveWire-branded model on July 8.

The original LiveWire model is sold as a Harley-Davidson.
(Harley-Davidson)

The LiveWire motorcycles will be sold through dedicated dealerships that will initially open in California before spreading nationwide with a focus on urban markets.

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The original LiveWire is currently available at a starting price of $29,799.

Hanesbrands Inc. Earnings Advance In Q1

Hanesbrands Inc. (HBI) revealed a profit for its first quarter that increased from the same period last year.

The company’s earnings came in at $128.40 million, or $0.37 per share. This compares with $5.12 million, or $0.01 per share, in last year’s first quarter.

Analysts had expected the company to earn $0.26 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 25.0% to $1.50 billion from $1.20 billion last year.

Hanesbrands Inc. earnings at a glance:

-Earnings (Q1): $128.40 Mln. vs. $5.12 Mln. last year.
-EPS (Q1): $0.37 vs. $0.01 last year.
-Analysts Estimate: $0.26
-Revenue (Q1): $1.50 Bln vs. $1.20 Bln last year.

Gold Holds Near 3-month High As Focus Shifts To Inflation

Gold prices edged higher on Tuesday to hover near the highest level in three months as worries around inflation spooked investors around the global markets.

Spot gold edged up 0.1 percent to 1,838.22 per ounce, after having hit as high as $1,845.51 on Monday, the highest since Feb. 11. U.S. gold futures were marginally higher at $1,838.85.

The upside remained limited as U.S. bond yields inched higher, with the yield on the key 10-year Treasury note rising 1.3 basis points to 1.615 percent. The modest uptick in bond yields extended some support the U.S. dollar.

Soaring commodity prices have sent the cost of raw materials from copper to iron ore and lumber to record highs, posting downside risks to growth.

Investors look ahead to U.S. inflation data and speeches from Fed officials this week to see how authorities are likely to respond to receding risks posed by the coronavirus in some major economies.

The U.S. CPI report due Wednesday is forecast to show prices continued to increase in April.

As inflation worries mount, it is feared that the Federal Reserve might start reining in its ultra-loose monetary policy sooner than expected.

Chicago Federal Reserve President Charles Evans told CNBC on Monday that he would be comfortable if inflation ran a little hot for a while. Governor Lael Brainard will have a chance to reinforce that message later today.

Oil Prices Fall As Inflation Worries Rise

Oil prices fell on Tuesday as worries around inflation spooked investors around the global markets.

Brent crude futures for July settlement dipped 0.6 percent to $67.92 per barrel, while WTI crude futures for June delivery were own 0.6 percent at $64.52.

Soaring commodity prices have sent the cost of raw materials from copper to iron ore and lumber to record highs, posting downside risks to growth.

Traders were also reacting to reports suggesting that Colonial Pipeline is targeting re-opening its key U.S. pipeline by the end of the week.

The operator of the US’ Colonial Pipeline, which is the largest refined-products pipeline in the country, said that one of its lines has been partially restored and that a phased approach has been executed to facilitate a return to service by the end of the week.

During the White House press briefing on Monday, Homeland Security adviser Elizabeth Sherwood-Randall said the cyber breach did not affect fuel supplies.

The U.S. government declared a regional emergency Sunday after Colonial Pipeline said it was the victim of a cybersecurity attack involving ransomware — attacks that encrypt computer systems.