Tag: sales

  • Competing rulings on under 21 handgun sales could put issue before Supreme Court

    Competing rulings on under 21 handgun sales could put issue before Supreme Court

    The Supreme Court may soon weigh in on whether people younger than 21 have the right to buy handguns, a decision that could upend decades-old federal restrictions and reshape the nation’s gun laws.

    In January, the right-leaning Fifth Circuit Court of Appeals, based in New Orleans, struck down the federal government’s decades-old ban on handgun purchases for 18- to 20-year-olds. That decision came after the 10th Circuit upheld the same prohibition in November. Meanwhile, the U.S. Court of Appeals for the Fourth Circuit is currently considering whether to uphold a Virginia district court judge’s decision ending the age-limit ban.

    “Whenever there’s decisions that cross each other, you have a much better chance of getting a writ of certiorari at the U.S. Supreme Court,” Alan Gottlieb, founder of the Second Amendment Foundation, told Fox News Digital. 

    FEDERAL COURT RULES AGE LIMITS ON HANDGUN SALES VIOLATE SECOND AMENDMENT

    “This issue is definitely making its way to the Supreme Court—and fast,” said Pepperdine’s Jacob Charles, a constitutional law professor with an expertise in Second Amendment issues. “This is a key federal law, and you just can’t have that apply differently across the nation (at least for long).”

    The federal ban on handgun sales to people younger than 21 began in 1968 as part of the Gun Control Act passed that year.

    The federal ban on handgun sales to people under the age of 21 began in 1968 as part of the Gun Control Act passed that year. Fast-forward to the Supreme Court’s 2022 decision in New York State Rifle & Pistol Association, Inc. v. Bruen, and a tranche of lawsuits aiming to upend laws restricting gun sales to people over 21 are making their way through the courts. The gun-violence nonprofit news outlet The Trace compiled data showing that between June 2022 and August 2024, there have been more than 1,600 Bruen-based challenges to gun laws.

    The Bruen decision rejected the strict scrutiny frameworks being used by lower courts to evaluate gun laws and instead established a “historical tradition” that required laws to adhere more directly to the text of the Second Amendment.

    “The levels of scrutiny – rational basis, intermediate scrutiny, strict scrutiny – don’t matter. What the Supreme Court’s Bruen ruling said was, you have to look at the text and the history. That’s what counts,” said Gottlieb. “When the Bill of Rights was put together, there was nothing that prohibited 18-to 20-year-old young adults from being able to own or carry a firearm.” 

    Guns at NRA

    Handguns are displayed at the Taurus booth during the National Rifle Association annual convention in Indianapolis. (Photographer: Jon Cherry/Bloomberg via Getty Images)

    Gottlieb and the Second Amendment Foundation have sued in several states to reverse their bans on hand gun sales to young adults under 21. 

    Several cases challenging age limit bans, including cases filed in Massachusetts and Connecticut this month, are ongoing. 

    KYLE RITTENHOUSE RETURNS TO SPEAK AT UNIVERSITY WHERE ANGRY MOB LED TO CANCELED SPEECH

    “Our track record, at least, is mostly wins, and part of the logic on that is that there’s nothing in under the Bruen decision at the Supreme Court, which makes them look at the text and history of the Second Amendment.” 

    Gun control protestor outside the Supreme Court

    A protester holds signs calling for an end to gun violence in front of the Supreme Court in Washington, D.C. (Nathan Howard/Getty Images)

    The Fifth Circuit decision cited the Supreme Court’s Bruen ruling in its decision not to uphold the federal ban, as did two other circuit courts over the last year. 

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    One case in the Eighth Circuit invalidated a ban in Minnesota. Since then, the Commissioner of Public Safety in Minnesota filed a petition for the Supreme Court to rule on the case. That petition is currently pending.

  • McDonald’s takes massive sales hit from E. Coli outbreak

    McDonald’s takes massive sales hit from E. Coli outbreak

    McDonald’s sales took a significant hit in its latest quarter due to an E. coli outbreak linked to slivered onions that killed one person and sent over two dozen to the hospital.

    CEO Chris Kempczinski told analysts during an earnings call on Monday that sales at U.S. stores slipped 1.4% during the fourth quarter, which was largely attributed to the “impact of the E. coli outbreak linked to slivered onions on our Quarter Pounders.” 

    The company reported revenue of $6.39 billion, missing Wall Street estimates of $6.44 billion. 

    Federal health officials declared that the outbreak was “closed” in December, after illnesses emerged in late October. There were 104 confirmed cases of the E. coli O157:H7 strain across 14 states, with hospitalizations climbing to 34. Four victims had developed hemolytic uremic syndrome, a serious condition that can cause kidney failure, according to the Centers for Disease Control (CDC). One death was linked to the outbreak early on, the CDC said. 

    GROCER WEIGHS IN ON DEADLY BOAR’S HEAD RECALL SHIFTING HOW CONSUMERS SHOP IN STORES

    The raw onions served as a topping on Quarter Pounders were found to be the likely source of the outbreak after beef was ruled out. The agency said it has completed inspections at the Colorado processing plant of Taylor Farms, which supplied recalled onions to McDonald’s, and an unnamed onion farm in Washington state.

    A Quarter Pounder hamburger is served at a McDonald’s restaurant. (Scott Olson/Getty Images / Getty Images)

    Upon discovery of the outbreak, McDonald’s removed Quarter Pounders from the menu at 900 of its restaurants in the impacted areas and stopped purchasing onions processed at Taylor Farms’ Colorado Springs facility.

    Executives said that the company had been seeing “strong sales” during the first few weeks of October before the outbreak emerged. 

    In the fourth quarter, while there was slightly positive traffic at U.S. stores, the company said customers were spending less. Part of the issue was that its Quarter Pounder was “a high margin” item, according to executives. 

    Kempczinski said the E. coli impact is now “localized to the areas that had the biggest impact.” 

    California McDonald's restaurant

    A sign is posted in front of a McDonald’s restaurant on April 28, 2022, in San Leandro, California.  (Justin Sullivan/Getty Images / Getty Images)

    “Think about that as sort of the Rocky Mountain region. That was really the epicenter of the issue. And that continues to be down versus where we were heading into that impact,” he said, adding that the impact is contained to that region. 

    80,000 POUNDS OF COSTCO BUTTER RECALLED FOR LACKING DISCLAIMER ABOUT MILK

    The company expects to have fully recovered from the food safety issues by the beginning of the fiscal second quarter. 

    Following the outbreak, executives said the company invested in “value, affordability and obviously in digital offers to get consumers back” and regain trust. 

    Ticker Security Last Change Change %
    MCD MCDONALD’S CORP. 308.59 +14.26 +4.84%

    McDonald’s plans to further enhance its value programs in the first quarter “to ensure that we are offering industry leading value and with good value at the foundation.” 

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    Still, CFO Ian Borden told analysts that its approach to 2025 “reflects the current environment of softer, declining restaurant industry traffic in the U.S. and many of our larger markets.”  

  • Federal court rules ATF age limits on handgun sales violate Second Amendment

    Federal court rules ATF age limits on handgun sales violate Second Amendment

    A federal appeals court on Thursday ruled a nationwide ban on handgun sales to young adults is unconstitutional.

    A three-judge panel of the 5th U.S. Circuit Court of Appeals in New Orleans found a federal law that prohibits adults aged 18-20 from buying handguns violates the Second Amendment. The ruling comes as key firearms regulations have been struck down across the country following a landmark Supreme Court decision that expanded gun rights in 2022.

    “Ultimately, the text of the Second Amendment includes eighteen-to-twenty-year-old individuals among ‘the people’ whose right to keep and bear arms is protected,” the opinion of the court states. The decision refers the case back to a lower court judge.

    MASSIE AND OTHER REPUBLICANS PUSH ‘NATIONAL CONSTITUTIONAL CARRY ACT’ TO PROTECT AMERICANS’ GUN RIGHTS

    Customers shop for handguns at the Des Moines Fairgrounds Gun Show at the Iowa State Fairgrounds in Des Moines, Iowa, in March 2023.  (Reuters/Jonathan Ernst)

    Previously, the appeals court had upheld the requirement that adults must be at least 21 to purchase a handgun. But since the Supreme Court’s decision in New York State Rifle and Pistol Association v. Bruen, judges are required to determine if a firearm restriction being challenged is firmly rooted in the nation’s historical traditions. Judges in Minnesota, Virginia and Texas have already found that state laws restricting handgun sales to young adults do not pass that test.

    The Biden administration fought those rulings, but the Trump administration is expected to be friendlier towards gun rights. At a National Rifle Association event last year during the presidential campaign, President Donald Trump said, “no one will lay a finger on your firearms.” 

    Constitutional law attorney and Fox News contributor Jonathan Turley observed that the Trump administration may not appeal the fifth circuit’s decision, which could mean the Supreme Court will not have a chance to review it.

    “For gun rights advocates, it may have been better if this decision had been handed down during the Biden Administration,” Turley posted on X. “The Trump Administration will likely support the ruling and not appeal to the Supreme Court. Such an appeal could have extended this precedent nationally.”

    BIDEN ADMIN DROPS ITS ‘ZERO TOLERANCE’ POLICY TARGETING GUN DEALER LICENSES OVER PAPERWORK ERRORS

    A Smith & Wesson handgun on display

    Federal law prohibits handgun sales to young adults under 21 years of age.  (Reuters )

    The Supreme Court, meanwhile, decided to keep a federal gun law on the books last year. The high court overturned a different ruling from the 5th Circuit and upheld a law intended to protect victims of domestic violence.

    “Today’s ruling is yet another critical FPC win against an immoral and unconstitutional age-based gun ban,” said Firearms Policy Coalition President Brandon Combs in a statement. Two FPC members sued to overturn the law, along with the Second Amendment Foundation and the Louisiana Shooting Association.

    SUPREME COURT MAKES DECISION ON GUN LAW CHALLENGES IN DELAWARE, MARYLAND

    The U.S. Supreme Court building in Washington, D.C. (AP Photo/Mariam Zuhaib)

    The U.S. Supreme Court building in Washington, D.C.  (AP Photo)

    “We look forward to restoring the Second Amendment rights of all peaceable adults throughout the United States,” Combs added.

    Federal law requires a person to be 21 to purchase a handgun from a licensed firearm dealer and 18 to buy a long gun from a dealer, according to Everytown for Gun Safety. There is an 18-year-old minimum for handgun purchases from unlicensed sellers and no minimum age for long guns, according to the group’s research.

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    “The law that prohibits dealers from selling handguns to those under twenty-one is both constitutional and crucial for public safety,” said Janet Carter, senior director of issues and appeals at Everytown Law. “Firearms are the leading cause of death for children and teens, and 18-to-20-year-olds commit gun homicides at triple the rate of adults 21 and over, according to FBI statistics.” 

    “We hope the federal government will fight this reckless ruling by seeking rehearing en banc, or taking the case directly to the Supreme Court. We look forward to supporting the defense of this common sense law.” 

    The Associated Press contributed to this report.

  • Existing home sales fall to lowest level in nearly 30 years

    Existing home sales fall to lowest level in nearly 30 years

    Existing home sales in the U.S. in 2024 were the lowest in nearly 30 years, as home prices hit an all-time high.

    The National Association of Realtors released data that showed existing home sales declined to the lowest level since 1995 last year, with 4.06 million homes sold on an annual basis.

    Meanwhile, the median home price rose to a record high of $407,500 in 2024.

    “With mortgage rates close to 7% and generally soft homebuying sentiment, strength in existing home sales is unlikely to be sustained,” said Alice Zheng, an economist at Citigroup. “We do not expect much further upside for housing demand near-term.”

    HOW EXTREME WEATHER, HIGH HOME PRICES COULD AFFECT THE 2025 HOUSING MARKET

    Existing home sales fell to the lowest level in nearly 30 years in 2024. (iStock / iStock)

    Existing home sales did show signs of rising in the closing months of 2024, rising 2.2% from November to a seasonally adjusted annual rate of 4.24 million in December. Year-over-year, sales were up 9.3% from an annual rate of 3.88 million in December 2023.

    “Home sales in the final months of the year showed solid recovery despite elevated mortgage rates,” said NAR chief economist Lawrence Yun. 

    “Home sales during the winter are typically softer than the spring and summer, but momentum is rising with sales climbing year-over-year for three straight months,” Yun said. “Consumers clearly understand the long-term benefits of homeownership. Job and wage gains, along with increased inventory, are positively impacting the market.”

    HOUSING SUPPLY JUMPS TO 4-YEAR HIGH – BUT IT’S NOT ALL GREAT NEWS

    Existing home sales increased on an annual basis in all four regions analyzed by the NAR, while prices also increased in each of the four regions. 

    Sales were up 9.3% on a year-over-year basis – the largest gain since June 2021, which was mostly driven by transactions for housing valued at over $500,000.

    TOP HOUSING MARKETS FOR 2025 REVEALED IN NEW FORECAST

    home with for sale sign

    Elevated mortgage rates have chilled the housing market. (Justin Sullivan/Getty Images / Getty Images)

    The median home price for existing homes was $404,400 – an increase of 6% from $381,400 a year ago.

    “The median home price was elevated partly due to the upper-end market’s relative better performance,” Yun said. “Sales rose by 35% from a year ago for homes priced above $1 million, while sales fell for homes priced under $250,000.”

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    First-time homebuyers accounted for 31% of home sales in December, up from 30% in November and 29% in December 2023.

    NAR’s “Profile of Home Buyers and Sellers” that was released in November found that the annual share of first-time home buyers was 24%, the lowest ever recorded.

    Reuters contributed to this report.

  • Pelosi discloses sales of Nvidia and Apple shares, purchase of Alphabet and Amazon

    Pelosi discloses sales of Nvidia and Apple shares, purchase of Alphabet and Amazon

    Former House Speaker Nancy Pelosi, D-Calif., reported several stock trades on Inauguration Day that were made in December and early January involving several of the world’s largest tech companies, an industry her husband Paul has traded in before. 

    Congressional stock trading disclosures, known as periodic transaction reports, cover trades made by both the member of Congress and a spouse.

    Ian Krager, a spokesperson for the former speaker, told FOX Business, “Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions.”

    NANCY PELOSI’S HUSBAND SOLD MORE THAN $500K IN VISA STOCK AHEAD OF DOJ ACTION

    Pelosi’s disclosure showed the purchase of 50 call options for Alphabet, the parent company of Google, along with 50 call options for Amazon, according to her latest periodic transaction report filed with the clerk of the House of Representatives. 

    Both sets of call options have a strike price of $150 and were valued between $250,001 and $500,000. Call options give investors the right to buy shares of a company at a specific price.

    Ticker Security Last Change Change %
    AAPL APPLE INC. 223.83 +1.19 +0.53%
    NVDA NVIDIA CORP. 147.07 +6.24 +4.43%
    GOOGL ALPHABET INC. 198.37 +0.32 +0.16%
    AMZN AMAZON.COM INC. 235.01 +4.30 +1.86%

    The disclosure showed the sale of 10,000 shares of Nvidia along with 31,600 shares of Apple on Dec. 31. After the sale, Paul Pelosi bought 50 more Nvidia call options on Jan. 14 that had a strike price of $80 in a trade that was in the range between $250,000 and $500,000. He also exercised 500 call options for Nvidia on Dec. 20 that had a strike price of $12 and were due to expire that day. 

    That trade was in the range between $500,000 and $1 million.

    Former House Speaker Nancy Pelosi, D-Calif., reported new stock trades involving notable tech companies. (Chip Somodevilla/Getty Images / Getty Images)

    The former speaker’s disclosure also noted several other investments that occurred in the last month, including that 140 call options were exercised for 14,000 shares of Palo Alto Networks at a strike price of $100 that were due to expire Dec. 20 in a trade reported as being between $1 million and $5 million.

    Pelosi also disclosed the purchase of 50 call options of Tempus AI with a $20 strike price, as well as 50 call options of Vistra Corp. with a $50 strike price, on Jan. 14. The Vistra purchase was in the $500,000 to $1 million range, while Tempus was between $50,000 and $100,000.

    Ticker Security Last Change Change %
    VST VISTRA CORP 186.85 +1.41 +0.76%
    TEM TEMPUS AI 50.45 +2.81 +5.90%

    BIPARTISAN GROUP OF SENATORS REACHES AGREEMENT TO BAN LAWMAKERS FROM TRADING STOCKS

    Paul and Nancy Pelosi

    Former Speaker of the House Nancy Pelosi, D-Calif., and husband Paul Pelosi attend the Vanity Fair Oscars Party at the Wallis Annenberg Center for the Performing Arts in Beverly Hills, California, on March 10, 2024. (Michael Tran/AFP via Getty Images / Getty Images)

    Investments made by Paul Pelosi have attracted scrutiny amid mounting calls for members of Congress and their immediate family members to be banned from stock trading. 

    Ticker Security Last Change Change %
    V VISA INC. 323.54 -0.07 -0.02%

    Last fall, Paul Pelosi sold over $500,000 in Visa stock ahead of a Justice Department antitrust suit against the credit card giant. Earlier last year, an analysis estimated that he made the couple nearly $4 million in a six-month period off of Nvidia call options he bought in November 2023.

    Lawmakers’ spouses can trade in companies or industries their partner may help regulate, but it’s illegal for members of Congress and their family members to profit from inside information.

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    Members of Congress on both sides of the political aisle have proposed legislation in recent years that would ban lawmakers and their family members from owning stock. Bipartisan bills to that end were developed in the Senate during the last Congress, but neither became law before the end of the 118th Congress, leaving the issue to the current Congress.

    FOX Business’ Breck Dumas contributed to this report.