Right on cue, the press got ready to print a bad jobs report for August, and then SLAM, the number comes out up 162,000. About three times the Wall Street consensus. Of course, most of Wall Street and their liberal pals in the press just love to ignore eight straight months of Institute for Supply Management manufacturing index increases, and 15 straight monthly ISM services index increases. And tremendous gains in industrial production and consumer spending. We’ll get into the numbers in just a moment.

But let me say right here that President Trump’s economic boom has become the greatest story never told, but the story is factual. And if the GOP is gonna hang on to Congress in the midterms, they’ve got to get the story out.

As former White House counselor, Kellyanne Conway, told me the other night, “They’ve got the money, the message, they need a better sales pitch and they’ve got great messengers like you and Secretary Bessent and obviously President Trump, most of all.”

Now, about those jobs numbers, including 55,000 upward revisions for June and July, the actual job gain in August  was more than 217,000. Since Mr. Trump took office private jobs have gone by more than a million, while federal jobs have declined by more than 300,000. This is the Trumpian free enterprise restructuring of the economy, putting an end to President Biden’s hapless big government socialism.

And on top of that, the employment to population ratio, perhaps the best jobs indicator, moved up to 59.1 percent from 58.9 percent.

Meanwhile, manufacturing and construction and goods producing jobs keep rising. And as far as wages are concerned, in the private sector, wage gains plus hours worked gave 4.3 percent increase in the wage income proxy, which is actually higher than the temporarily inflated consumer price index.

This should come as no surprise to analysts who have been honestly tracking the numbers. Productivity is booming, so are profits, so are stocks, so are consumers, and so is the hard goods industry, where durable goods, the heart of manufacturing, is rising at double digit gains.

We haven’t seen this in decades. Can Mr. Trump take credit for it? Well I’ll tell you what? 100 percent immediate depreciation, “drill, baby, drill,” deregulation, tax free overtime, tax free tips. you know what? That stuff is working, if only the press would report it.

LOS ANGELES — Sony Pictures’ “Spider-Man: Brand New Day” has become the highest-grossing film of all time across the premium ScreenX and 4DX theatrical formats, generating more than $104 million in combined global box office in just 33 days, according to CJ 4DPlex, the entertainment technology company behind both immersive cinema formats.

The Tom Holland-led superhero film surpassed the previous all-time CJ 4DPlex global box office record set by “Avatar: The Way of Water,” which had accumulated $103 million across a considerably longer 228-day theatrical run. The speed at which “Brand New Day” reached the milestone marks a dramatic acceleration compared with the prior record holder, reaching the same benchmark in roughly one-seventh the time.

CJ 4DPlex Americas CEO Don Savant characterized the achievement as evidence of the growing commercial power of premium theatrical formats within the broader film industry.

“This record demonstrates the tremendous opportunity premium formats create across the theatrical ecosystem,” Savant said. “For studios and filmmakers, ScreenX and 4DX provide differentiated ways to showcase their biggest films, create excitement and drive incremental box office. For exhibitors, they provide a premium experience audiences actively seek out and are willing to pay more to enjoy.”

Savant also credited Sony Pictures directly for embracing an unconventional production approach that helped make the record possible.

“Most importantly, we are incredibly grateful to Sony Pictures for embracing our vision for ‘Shot for ScreenX’ and working with us to make it a reality,” Savant said. “Their partnership and commitment were instrumental in achieving this historic success.”

CJ 4DPlex separately extended gratitude to the film’s creative team for helping pioneer the new production approach.

“We are incredibly grateful to Sony Pictures, Destin Daniel Cretton and the entire filmmaking team for embracing this new creative approach and helping demonstrate what is possible when premium formats become part of the filmmaking process from the beginning,” the company said.

“Spider-Man: Brand New Day” is the first Hollywood film produced using CJ 4DPlex’s “Shot for ScreenX” technology, meaning the film was designed with ScreenX presentation in mind from the earliest stages of production, working closely with Sony Pictures rather than adapting existing footage after the fact. The film also marked the first Hollywood release to expand its ScreenX presentation beyond the traditional side screens to include a ceiling-mounted display, creating a four-sided viewing experience intended to maximize audience immersion.

According to CJ 4DPlex, the film achieved a record 40% average occupancy rate across its ScreenX and 4DX screenings, a figure the company said demonstrates extraordinary audience demand for the premium formats. The film also set opening-weekend records for ScreenX in 36 countries and for 4DX in 22 countries. As of the announcement, “Brand New Day” was playing across roughly 1,200 ScreenX and 4DX screens in more than 70 countries worldwide, with cumulative global attendance across those premium formats surpassing 6.7 million moviegoers.

South Korea in particular showed strong demand for the film’s premium presentations. As of Sept. 3, ScreenX screenings of “Brand New Day” had drawn more than 472,000 admissions domestically in South Korea, accounting for roughly 5.5% of the film’s total cumulative South Korean audience of approximately 8.645 million moviegoers, a share that underscores the significant role premium formats have played in the film’s performance in that market specifically.

CJ 4D Plex CEO Byoung-jun Bang addressed the significance of the milestone from an industry-collaboration perspective, framing the achievement as evidence of an evolving relationship between filmmaking and premium format technology.

Bang said the film’s success as the first “Shot for ScreenX” production represented a meaningful evolution in how filmmakers, studios and premium format technology developers collaborate, suggesting the achievement extended well beyond simple box office performance to point toward a broader shift in how future blockbusters might be conceived and produced with immersive formats built in from the outset.

The record adds to an already historic overall theatrical run for “Spider-Man: Brand New Day” since its July 31 release. The film has climbed into the all-time top tier of global box office performers, officially surpassing “Avatar: The Way of Water’s” $2.33 billion lifetime worldwide haul to become the third highest-grossing film of all time globally, trailing only “Avatar” and “Avengers: Endgame.” Industry trackers have projected the film’s eventual worldwide total could land somewhere between $2.5 billion and $2.7 billion by the end of its theatrical run.

Domestically, the film has also mounted a serious challenge to a long-standing North American box office record. With a domestic total approaching $900 million, “Brand New Day” has continued closing in on “Star Wars: The Force Awakens’” 11-year-old North American record of $936.7 million, with some industry analysts suggesting the film could realistically break that mark before its theatrical run concludes.

The film’s box office dominance has also solidified its status as the highest-grossing Spider-Man film ever produced, surpassing the previous franchise record of $1.9 billion set by “Spider-Man: No Way Home.” Marvel Studios head Kevin Feige has since confirmed plans for additional Spider-Man films following “Brand New Day’s” breakout commercial success, though it remains unclear whether Holland will return for future installments, despite the actor previously expressing willingness to continue in the role.

The film’s dual achievement, both as the top-performing film in premium theatrical formats and as one of the highest-grossing movies in cinema history overall, reflects a broader industry trend in which studios and technology providers have increasingly collaborated to design blockbuster releases specifically optimized for immersive theatrical experiences from the earliest stages of production, rather than treating premium formats as an afterthought applied to already-completed films.

With “Spider-Man: Brand New Day” continuing to play across theaters worldwide and its box office totals still climbing, both Sony Pictures and CJ 4DPlex are likely to point to the film’s dual record-setting performance as a model for future blockbuster productions seeking to maximize both traditional theatrical grosses and the growing revenue potential of premium format presentations like ScreenX and 4DX.

Campbell’s said it has cut 13% of its salaried workforce and closed two snack plants in an effort to improve its operations and return to profitability.

“Make no mistake, our results remain unacceptable,” CEO Mick Beekhuizen said. “But instead of waiting for the environment to improve around us, we are addressing reality head-on.”

The company has 4,300 salaried workers, according to The Wall Street Journal. It had approximately 13,700 full-time and part-time employees as of August 2025, according to a filing with the Securities and Exchange Commission.

UBER TO CUT THOUSANDS OF JOBS IN SWEEPING RESTRUCTURING EFFORT

Cans of Campbell’s chicken noodle soup for sale are displayed at a store on July 22, 2026, in Washington, D.C. (Kevin Carter/Getty Images)

Consumer goods companies have increasingly faced resistance from budget-conscious shoppers, particularly lower-income households that have gravitated toward cheaper, private-label and value brands.

Despite this, Campbell’s has raised prices in recent years to protect its margins against rising costs of raw materials, logistics and investments behind soup and sauce launches and holiday merchandising programs.

MICROSOFT CUTS 4,800 POSITIONS, INSISTS JOBS ‘NOT BEING REPLACED BY AI’

The company has implemented average price increases of 4% to 5% across roughly 60% of its portfolio, with benefits expected to begin flowing through in the second quarter, even as sales take a hit, CFO Todd Cunfer said on a call with analysts.

The company said it plans to generate about $500 million in cost savings by fiscal 2030.

Campbell’s soup at a supermarket in Hercules, Calif., Dec. 8, 2025 (David Paul Morris/Bloomberg via Getty Images / Getty Images)

“With this program, we are focused on increasing speed and accountability and improving our margins and cash flow,” Beekhuizen said.

Campbell’s expects fiscal 2027 net sales to decline 2% to 4%, compared with analysts’ expectations for a 0.8% drop, according to data compiled by LSEG. It forecast adjusted earnings per share of $1.65 to $1.80, below estimates of $1.86.

TOP TOBACCO COMPANY TO CUT THOUSANDS OF JOBS

Net sales fell 8% to $2.14 billion in the fourth quarter, slightly missing estimates of $2.15 billion, while adjusted earnings per share of 39 cents were in line with expectations.

Volumes in the company’s snacks segment fell 6%, while prices rose 1%. For its meals and beverages segment, where prices remained the same, volumes rose 3%.

“Our priorities are clear: return Campbell’s to a sustainable, long-term value creation model, reduce financial risk and maintain our investment-grade credit rating,” Beekhuizen added.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Reuters contributed to this report.

Labor Day 2026 falls on Monday, Sept. 7, according to the U.S. Office of Personnel Management, marking one of 11 federal holidays observed annually and bringing a three-day weekend for many Americans as summer draws to a close.

Established by federal law in 1894, Labor Day is celebrated on the first Monday of September each year, honoring the economic and social contributions of American workers and the broader labor movement. Because the “first Monday” of September can fall anywhere between Sept. 1 and Sept. 7 depending on the calendar year, 2026’s observance lands at the later end of that range.

Unlike major holidays such as Thanksgiving or Christmas, Labor Day does not bring widespread closures across the retail and service sectors. Federal, state and most local government offices will close for the day, along with public schools, public libraries and federal courts, though electronic court filing systems will generally remain available in many jurisdictions even while physical offices are closed.

Banking services will be affected nationwide. Major banks, including Chase, Bank of America, Wells Fargo, Citibank, Capital One, PNC, Truist and U.S. Bank, are expected to keep their branches closed for in-person service on Labor Day. The Federal Reserve will also be closed, meaning transactions such as direct deposits, wire transfers and check processing may not be completed until Tuesday, Sept. 8. Customers will still be able to access ATMs and online or mobile banking services throughout the holiday, though any transfers initiated on Labor Day may remain pending until the next business day.

U.S. financial markets will also be closed for the holiday. The New York Stock Exchange, the Nasdaq and U.S. bond markets are all scheduled to be shut Sept. 7, according to each exchange’s respective 2026 holiday calendar, with normal trading set to resume Tuesday.

Mail and package delivery will pause for the holiday as well. All U.S. Postal Service locations will be closed Monday, with no regular residential or business mail delivery scheduled, though Priority Mail Express holiday delivery may still be available for customers with time-sensitive shipments. Regular postal delivery and retail counter service will resume Tuesday, Sept. 8.

Private shipping carriers will similarly scale back services for the holiday. UPS will suspend regular pickup and delivery service on Labor Day, according to the company’s 2026 operating schedule, though its UPS Express Critical service will remain available for urgent shipments, and some UPS Store locations may still be open depending on location. FedEx will pause most standard pickup and delivery operations for the holiday as well, with FedEx office locations operating on modified hours and some stores closed entirely, while FedEx Custom Critical will continue operating for time-sensitive deliveries.

Despite those closures across banking, postal and financial services, most retail businesses will remain open on Labor Day, and the holiday has increasingly become associated with major end-of-summer sales events rather than widespread store closures. Major retailers including Walmart, Target, Kroger, Aldi, Publix, Whole Foods and Trader Joe’s are expected to operate on Labor Day, though some locations may run on reduced holiday hours, and shoppers are advised to check with individual stores before visiting.

Costco stands out as a notable exception among major national retailers. All U.S. Costco warehouses, along with most attached services such as pharmacies, tire centers and food courts, will be closed on Labor Day, one of just seven holidays each year on which the company closes its U.S. locations entirely, according to Costco’s customer service guidance.

Other major retailers are expected to maintain their standard hours or even extend them for the holiday weekend. Home improvement chains including Home Depot and Lowe’s typically remain fully open on Labor Day and often extend weekend hours to accommodate renovation and home-project shoppers taking advantage of the long weekend. Discount retailer Aldi will remain open but with limited hours that vary by location, while Sam’s Club is expected to be open but close earlier than usual, at 6 p.m. Starbucks locations will generally remain open as well, though individual store hours may vary and customers are encouraged to check with their local location or the company’s app.

Pharmacy chains including CVS and Walgreens are expected to remain open on Labor Day, though both store and pharmacy hours can vary significantly by location, and customers needing prescriptions or other pharmacy services are advised to confirm hours with their specific store ahead of time.

Trash and recycling collection schedules may also be affected in some municipalities. In several major cities, curbside collection is expected to be delayed by a day for residents whose regular pickup falls on or after Labor Day, with normal collection schedules typically resuming later in the week.

For those planning around the holiday, several practical steps are worth taking in advance. Anyone needing to mail packages before the holiday should do so early, given the full closure of postal services on Monday. In-person banking needs should ideally be handled before Friday, Sept. 4, given that branches will be closed through the long weekend. Travelers and shoppers should also anticipate heavier-than-usual crowds throughout the extended holiday weekend, as Labor Day traditionally marks one of the last major travel and shopping periods before the end of summer.

Looking ahead, the next federal holiday following Labor Day will be Columbus Day, which falls on Monday, Oct. 12, 2026, according to the Office of Personnel Management’s official federal holiday schedule.

While Labor Day functions for many Americans as an unofficial close to summer, marked by family gatherings, shopping trips and travel, the holiday’s original purpose remains rooted in recognizing the contributions of American workers, including those in retail, hospitality, transportation, health care and emergency services who will continue working through the holiday to keep essential services running for the millions of people taking advantage of the long weekend.

Fosun Pharma held 8,53,93,894 shares, or 51.77% stake, in the pharmaceutical company as of the quarter ended June 30, 2026, as per BSE data. Following the stake sale, its holding would come down to around 45.77%.

Kotak Mahindra Mutual Fund, Axis Mutual Fund and ICICI Prudential Mutual Fund were among the buyers.

Kotak Mahindra MF bought 27.93 lakh shares, or 1.69% stake, for Rs 789 crore, while Axis MF acquired 13.57 lakh shares, equivalent to 0.82% stake, for Rs 384 crore. ICICI Prudential Mutual Fund purchased 10.39 lakh shares, or 0.63% stake, for Rs 294 crore.

The three mutual funds bought the shares at an average price of Rs 2,826.6 per share.

Live Events

Meanwhile, Gland Pharma shares ended Friday’s trading session at Rs 2,932.40 apiece, up 0.84% from the previous close of Rs 2,907.90. The stock had fallen to a low of Rs 2,827 during the session following the block deal.
ALSO READ: Mega NSE IPO coming as Sebi approves Rs 30,000 crore public offerEarlier on September 1, Gland Pharma informed the exchanges that the United States Food and Drug Administration (USFDA) had conducted a routine Good Manufacturing Practice (GMP) inspection at the company’s VSEZ Sterile Oncology Formulations Facility and API Facility in Visakhapatnam between August 24 and September 1. The inspection concluded with zero Form 483 observations.

On August 10, Gland Pharma reported a consolidated net profit of Rs 317 crore for Q1FY27, up 47% year-on-year from Rs 216 crore in the corresponding quarter last year. Revenue from operations rose 20% year-on-year to Rs 1,800 crore from Rs 1,506 crore in Q1FY26.

During Q1FY27, the company’s quarterly R&D investment stood at Rs 77.2 crore, while adjusted EBITDA increased 37% year-on-year. The adjusted EBITDA margin stood at 28%. The CDMO business contributed 50% of total revenue and recorded 20% year-on-year growth during the quarter. The B2B business accounted for the remaining 50% of revenue and grew 19% year-on-year.

Established in Hyderabad in 1978, Gland Pharma has grown from a contract manufacturer of small-volume liquid parenteral products to a generic injectable manufacturing company with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India and other markets.

The company primarily operates under a business-to-business (B2B) model and has a track record in pharmaceutical research and development, manufacturing and marketing of complex injectables.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Lululemon Athletica Inc. plunged $20.98, or 17.23%, to $100.79, after the athleisure retailer cut its full-year guidance for the third time this fiscal year, overshadowing a quarterly earnings beat and deepening a difficult stretch for the once-high-flying apparel company.

Lululemon reported fiscal second-quarter earnings of $2.92 per share, well ahead of the $1.80 analysts had expected, according to estimates compiled by LSEG. Revenue for the quarter came in at $2.415 billion, down 4% from the same period a year earlier and slightly below the $2.461 billion Wall Street had projected. Comparable sales fell 9% to 10% globally during the quarter, depending on the specific measure cited, with North America continuing to serve as the company’s weakest region, posting an 8% revenue decline.

Much of the earnings beat was driven by a one-time benefit rather than underlying operational strength. Lululemon received $134.5 million in tariff refunds under the International Emergency Economic Powers Act, along with an additional $4.1 million in associated interest, during the quarter, a windfall that significantly boosted reported profitability even as core sales trends continued to deteriorate.

The steepest concern for investors centered on Lululemon’s updated full-year guidance. The company now expects full-year net revenue in the range of $10.35 billion to $10.5 billion, representing a decline of 5% to 7% compared with the prior year. Full-year adjusted earnings per share guidance was cut to a range of $9.48 to $9.73, down sharply from the company’s previous guidance of $10.95 to $11.15 per share. For the current fiscal quarter, Lululemon guided for revenue between $2.29 billion and $2.32 billion, representing a 10% to 11% year-over-year decline, alongside quarterly earnings per share guidance of just 93 cents to 98 cents, far below the $2.41 analysts had been anticipating.

Meghan Frank, Lululemon’s interim co-chief executive and chief financial officer, addressed the guidance cut directly in the company’s earnings release.

“While we continue to navigate some challenging dynamics, we are taking a prudent approach with our revised full-year outlook,” Frank said.

Management attributed part of the weaker outlook to a significant slowdown in the company’s China mainland segment, alongside continued softness in North American traffic and ongoing markdown pressure across its core product categories. The company’s updated third-quarter guidance specifically anticipates “mid-teens” percentage declines in North America, a notably steeper deterioration than the roughly 8% decline the region posted in the quarter just reported.

Thursday’s disappointing results mark the third time Lululemon has cut its full-year guidance during fiscal 2026, following earlier guidance reductions tied to weakening North American demand and broader competitive pressure within the athletic apparel category. The stock entered Thursday’s earnings report already down nearly 42% for the year, reflecting sustained investor concern over the company’s ability to reverse its slowing growth trajectory.

The earnings report also arrived at a pivotal moment for Lululemon’s leadership. Nike veteran Heidi O’Neill is set to officially take over as the company’s permanent chief executive next week, following a transition period during which Frank has served in an interim capacity alongside her existing CFO responsibilities. The timing of the disappointing results just ahead of O’Neill’s formal start has added an additional layer of scrutiny to the leadership transition, with investors now watching closely for how the incoming CEO plans to address the company’s deepening sales challenges.

Among the company’s most prominent shareholders, investor Michael Burry, known for his prescient bet against the U.S. housing market chronicled in “The Big Short,” offered a pointed response to Thursday’s results. Burry, whose largest current portfolio holding is Lululemon, described the stock’s performance in a post on Substack following the earnings release.

“Today, lululemon is the trickster in my portfolio,” Burry wrote. “This time the trickster is my largest position, and it does seem determined to take me where mermaids fear to tread.”

According to market commentator Sam Badawi, Burry has indicated plans to buy additional shares aggressively if the stock falls further below $100, and has suggested a potential private equity takeover could represent a plausible long-term outcome for the company given its depressed valuation relative to historical levels.

Thursday’s after-hours decline pushed Lululemon shares below their previous 52-week low of $104.44, a level the stock briefly dipped beneath during after-hours trading before settling at its current price. The stock’s post-earnings collapse effectively erased a modest 1.42% gain the shares had posted during Thursday’s regular trading session ahead of the earnings release.

Lululemon’s presentation to investors attempted to frame international expansion as a continued source of growth opportunity, noting that the company had introduced its brand to new markets during the quarter even as overall comparable sales declined globally. Constant-dollar analysis showed comparable sales falling 10% after adjusting for a 1% foreign exchange headwind, reinforcing that the sales weakness reflected genuine operational challenges rather than simply currency fluctuations.

Despite the stock’s steep decline, some analysts have pointed to Lululemon’s valuation as increasingly attractive on a fundamental basis, with shares now trading at roughly 11 times forward earnings following the sharp post-earnings drop, a level considerably below the premium multiples the stock commanded during its period of stronger growth. Whether that lower valuation represents a genuine buying opportunity or reflects appropriately diminished expectations for the company’s near-term prospects remains a point of active debate among investors following Thursday’s results.

Lululemon’s struggles this year have unfolded against a backdrop of intensifying competition within the athletic and athleisure apparel category, with rivals continuing to gain market share in segments where Lululemon has historically maintained a dominant position. The company’s ongoing challenges in North America, its largest and historically most profitable market, have proven particularly difficult to reverse despite multiple rounds of strategic adjustments throughout the fiscal year.

With incoming CEO Heidi O’Neill set to formally assume leadership next week, investors and analysts will be watching closely for early signals of her strategic priorities and whether she can articulate a credible path toward stabilizing the company’s North American sales trends and restoring investor confidence following a fiscal year marked by repeated guidance cuts and a steep decline in the company’s share price.

A blueberry recall first reported in July over the risk of E. coli contamination has been expanded to include frozen package mixes of strawberries, blackberries and blueberries sold at Walmart, according to the U.S. Food and Drug Administration.

One lot of 10-ounce packages of Great Value frozen Organic Triple Berry Blend has been recalled by Chilean supplier Frutas y Hortalizas del Sur S.A.

The frozen berries were sold at select Walmart stores in 16 states, including Alabama, Arkansas, Florida, Illinois, Indiana, Kentucky, Louisiana, Minnesota, Mississippi, Missouri, North Carolina, Ohio, Oklahoma, South Carolina, Texas and Wisconsin.

MORE THAN 12,000 POUNDS OF BACON RECALLED AFTER USDA ISSUES HIGHEST-RISK ALERT

Packaging is shown for Great Value frozen Organic Triple Berry Blend sold at Walmart.  (Walmart.com / Unknown)

The supplier originally recalled packages of 10-ounce GreenWise Organic IQF Blueberries in July after receiving reports of consumers getting sick after eating them.

There are no reports yet of people getting sick from the berry mix.

RFK JR SAYS SOURCE OF CYCLOSPORA OUTBREAK IDENTIFIED, DECLARES PARASITE OUTBREAK ‘UNDER CONTROL’

The blueberries from the original recall were distributed to Publix stores in Alabama, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee and Virginia.

The supplier originally recalled packages of 10-ounce GreenWise Organic IQF Blueberries in July after receiving reports of consumers getting sick after eating them. (Getty Images / Getty Images)

Seventeen people in Florida and Georgia have reported falling ill from the blueberries, including six hospitalizations.

DOCTORS WARN YOUR ‘STOMACH BUG’ MAY ACTUALLY BE A PARASITE THAT’S HARDER TO DETECT

The mixed berries have a Universal Product Code of 7874211226 and best by date of Feb. 9, 2028.

E. coli O145 is a Shiga toxin-producing strain of the bacteria that can cause severe stomach cramps, diarrhea that may be bloody and nausea.

The berry mixes were sold at Walmarts in 16 states.  (iStock / iStock)

While most healthy people recover within about a week, infections can lead to a serious complication known as hemolytic uremic syndrome, particularly in young children, older adults and people with weakened immune systems.

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

Consumers should throw the berry mix away or return it to Walmart for a refund.