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Hearing Lab Technology Recalls About 31,150 Children’s Earmuffs

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New York Manufacturing Index Indicates Modest Contraction In September

The Federal Reserve Bank of New York released a report on Thursday showing a notable rebound in regional manufacturing activity in the month of September.

The New York Fed said its general business conditions index surged to a negative 1.5 in September from a negative 31.3 in August, although a negative reading still indicates a contraction in regional manufacturing activity. Economists had expected the index to climb to a negative 13.0.

The bigger than expected rebound by the headline index partly reflected significant turnarounds in new orders and shipments.

The new orders index soared to a positive 3.7 in September from a negative 29.6 in August, while the shipments index spiked to a positive 19.6 in September from a negative 24.1 in August.

The number of employees index also rose to a positive 9.7 in September from a positive 7.4 in August, indicating slightly faster job growth.

On the inflation front, the prices paid index tumbled to a positive 39.6 in September from a positive 55.5 in August, while the prices received index slumped to a positive 23.6 in September from a positive 32.7 in August.

The report also showed the index for future business conditions rose to a positive 8.2 in September from a positive 2.1 in August.

However, the New York Fed said the latest reading suggests firms were still not very optimistic that business conditions would improve over the next six months.

Cyme Tech Recalls 8,200 Murphy Branded Beds

Canada-based Cyme Tech has recalled about 8,200 Murphy branded beds due to serious impact and crush hazards.

According to a statement from the Consumer Product Safety Commission, the company has recalled Ivy Bronx, Orren Ellis, Stellar Home Furniture, and Wade Logan branded Murphy Beds, because wall beds can break or detach from the wall and fall onto those nearby, posing serious impact and crush hazards.

The company said it has received 146 reports of the beds falling or breaking including 62 injuries involving broken bones, bruising, lacerations, concussions and other injuries.

The recall involves full-sized and queen-sized Murphy beds sold online under the brand names “Ivy Bronx,” “Orren Ellis,” “Stellar Home Furniture,” and “Wade Logan”. These wall beds are installed vertically and are sold in five colors: White, Rustic Gray, Espresso, Cinnamon and Tuxedo.

The company has asked its customers to stop using the recalled Murphy beds and contact Cyme Tech to schedule a free inspection and repair of the bed.

The recalled products were sold online at Wayfair, AllModern, Amazon, Cymax, Overstock and Wal-Mart.com from February 2014 through May 2022 for between $1,200 and $1,500.

Maxeon Solar Technologies Climbs 10% After CEO Steps Down

Shares of solar panels maker Maxeon Solar Technologies, Ltd. (MAXN) are rising 10 percent on Thursday’s trading continuing their upward trend since the past few days.

The stock has been on an upward trajectory ever since CEO Jeff Waters agreed to step down from the top role on September 15. The company said that Chief Revenue Officer will serve as interim CEO until a successor is appointed.

Currently at $25.87, the stock has traded between $7.48 and $26.36 during the past 52 weeks.

ChargePoint Holdings Up 5%

ChargePoint Holdings, Inc. (CHPT) shares are adding more than 5 percent on Thursday morning trade. The shares have been on an uptrend for the last several days.

Currently, shares are at $19.16, up 5.39 percent from the previous close of $18.18 on a volume of 9,703,715. For the 552-week period, the shares have traded in a range of $8.50-$28.72 on average volume of 9,973,274.

Omeros Stock Slips 27%

Shares of Omeros Corporation (OMER) are slipping over 27% on Thursday morning after the company reported narsoplimab treatment results in critically ill Covid-19 patients in I-SPY covid trial.

OMER is currently trading at $3.9312, down $1.4588 or 27.0649%, on the Nasdaq. The stock opened its trading at $5.0900 after closing Wednesday’s trading at $5.3900. The stock has traded between $1.8600 and $16.3000 in the 52-week period.

Analysis in the randomized patient population shows that the addition of narsoplimab to treatment of critically ill patients with COVID-19 reduces the mortality risk. Narsoplimab showed the largest reduction in mortality risk to date across all drugs reported from the I-SPY COVID Trial.

Hearing Lab Technology Recalls About 31,150 Children’s Earmuffs

Hearing Lab Technology has recalled about 31,150 children’s earmuffs due to risk of burn and injury from rupturing of alkaline batteries.

The company has recalled Children’s HearMuffs sound compression earmuffs. According to Consumer Products Safety Commission, the AAA alkaline batteries included in the recalled HearMuffs can rupture, posing hearing, projectile and/or burn injury.

The recall involves four models of powered HearMuffs, sound protection active sound compression earmuffs designed for children, which use AAA alkaline batteries. Only powered HearMuffs which use two AAA Alkaline batteries are included in this recall.

The company said it received 19 reports of rupturing batteries. No injuries have been reported. The recalled products were sold at Sam’s Club, Kroger and other stores nationwide and online from January 2018 through December 2021 for between $30 and $40.

The company has asked its customers to immediately stop using the recalled HearMuffs and contact Hearing Lab Technology/Lucid Audio to receive two new replacement AAA batteries free of charge.