FRIday, August 4, 2023

Good morning! On this date in 1790, Alexander Hamilton established the Revenue Marine Service, largely forgotten today. But in 1915, it became the very well-known U.S. Coast Guard.

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Trump Pleads Not Guilty in D.C. Court

Donald Trump pleaded not guilty in federal court Thursday to four charges of obstruction and conspiracy related to the events of Jan. 6, later calling it “a persecution of a political opponent.”

Prosecutors requested an early trial date, and Trump’s lawyers protested, asking for more time to prepare their case. They pointed out the prosecution has been investigating for 3-1/2 years, and Trump’s team only saw the charges this week.

Trump was fingerprinted during the arraignment, but as in his other cases, no mug shot was taken out of deference to his presidency. His next court appearance is set for Aug. 28, when a trial date could be set.

Anheuser-Busch Reports Steep U.S. Revenue Drop

Anheuser-Busch reported Thursday that overall sales dropped 10% in the U.S. over the past three months compared to the same period last year, primarily due to the unprecedented drop-off in Bud Light sales.

Core profits in the U.S. for Anheuser-Busch fell 27%, according to the company’s first quarterly report since the Bud Light fiasco. However, A-B’s strength in overseas markets gave it 7.2% global revenue growth overall.

The stock remained generally flat Thursday on the news, closing at $57 a share. The day before the infamous promotion featuring a trans influencer, the stock stood at $67.

Home Depot Hit By Revolving-Door Scam

A Connecticut man conned Home Depot out of nearly $300,000 by picking up expensive doors at one end of the store and then returning them for store credit at the other end without stopping to pay in between.

The man, Alexandre Costa-Mota, 26, posed as a contractor to load doors onto a lumber cart, which he took to the service department for a refund without a receipt. If the store refused, he took the doors with him to return at a different Home Depot.

In all, he hit Home Depots in eight states over six months. He’s charged with multi-state wire fraud and conspiracy.

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➤ The House Oversight Committee released the full transcript of closed-door testimony from Devon Archer on President Biden’s involvement with his son Hunter’s business deals. (See Transcript)

➤ Florida Gov. Ron DeSantis accepted a debate challenge from California Gov. Gavin Newsom. “Just tell me when and where,” DeSantis told Fox’s Sean Hannity. (More)

➤ Rep. Henry Cuellar of Texas, the only pro-life Democrat in Congress, has won the endorsement of top party leaders despite anger from progressives who want to unseat him. (More)

➤ Jason Aldean’s controversial song “Try That in a Small Town” has hit No. 1 on Billboard’s Hot 100, as country songs now top the Billboard chart at Nos. 1, 2, and 3 for the first time. (More)

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➤ Tom Brady is returning to football, but of the European soccer kind. Brady will become a minority owner of the Birmingham City Football Club and serve as chairman of the club’s advisory board. (More)

➤ Lionel Messi lifted Inter-Miami into a League’s Cup playoff round after scoring two goals to beat Orlando. That makes a remarkable five goals in only three games with the team. (More)

➤ The Chicago Cubs scored 36 runs in just two games, tying a franchise record dating back to 1897. They also set a new baseball record with 10 extra-base hits and five home runs in consecutive games. (More)

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Market Report 8/3/23

▼	NASDAQ Natl. Assoc. of Securities Dealers Automated Quotations	13,959.71	–0.10%
▼	SPX S&P 500	4,501.89	–0.25%
▼	DJI Dow Jones Industrial Average	35,215.10	–0.19%
▲	BTC Bitcoin	$29,222.0	+0.05%
▼	DXC DXC Technology Company	$19.10	–29.44%

➤ Big Stock Move: DXC Technology saw its shares drop nearly 30% Thursday after it missed earnings expectations and slashed its full-year outlook. (More)

➤ Adidas brought in $437 million from the first release of Yeezy sneakers left over after the company cut ties with the rapper formerly known as Kanye West. (More)

➤ Warner Bros. Discovery missed 2nd-quarter financial targets due to box office bombs like “The Flash” and debt paydown. The huge revenue from “Barbie” will show up next quarter. (More)

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➤ The world’s largest community of 3D-printed homes just unveiled its first completed house in Georgetown, Texas. Prospective buyers toured the neighborhood at its grand opening. (Photos)

➤ The James Webb Space Telescope continues to send back dramatically enhanced space photos, and the latest one reveals the Ring Nebula in intricate detail. (Photo)

➤ Astronomers say they’ve captured the moment when a 2021 solar storm simultaneously hit Earth, the moon, and Mars. It’s the first time scientists measured a solar eruption on three planetary surfaces at once. (More)

➤ A pair of “ultra-rare” Apple sneakers sold at auction for $50,000. The sneakers were custom-made in 1986 for Apple employees attending a sales conference and never sold to the public. (More)

➤ A rollercoaster in Cedar Point, Ohio, got stuck at its highest point of 200 feet, forcing passengers to carefully walk down rickety metal steps with only a thin handrail for support. (Video)

➤ A truck carrying nacho cheese crashed on an Arkansas higher Tuesday, leaving a cheesy mess across the roadway. “Taco Tuesday, anyone?” joked Arkansas Transportation officials on social media. (Photos)

➤ A live roseate spoonbill was spotted touching down in Wisconsin for the first time. The only other time the rare pink waterbird was seen in the state was in 1845, and it was dead. (Photo)