Johnson & Johnson (J&J) on Monday said it reached a settlement that it would pay an estimated $5.5 billion to settle tens of thousands of lawsuits alleging its baby powder and talc products cause ovarian cancer, which could end years of litigation on the subject.

The company said the proposed settlement would cover about 76,000 claims – including those that have been consolidated in federal court in New Jersey and related cases in state court – to cover nearly all the outstanding claims against J&J.

J&J previously settled most of the cases alleging its talc contained asbestos and caused mesothelioma.

The deal was confirmed by plaintiffs’ law firms on Monday, saying it was a good resolution after a decade-long court battle. The deal has to be accepted by 95% of the ovarian cancer claimants in state or federal court before it becomes final.

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Johnson & Johnson announced a deal to settle talc powder lawsuits. (Lucas Jackson/Reuters)

J&J denied wrongdoing in its announcement of the settlement, saying that the plaintiffs weren’t able to prove their claims that the talc products caused cancer cases and that the settlement is a way of efficiently ending the litigation.

“While we are confident the company would ultimately have prevailed with further litigation, as it has in the vast majority of cases tried to date, this resolution allows the company to put this matter behind it and remain focused on its mission to develop medicines and devices that save lives,” said Erik Haas, worldwide VP of litigation at Johnson & Johnson.

The company expects to pay out $3 billion in 2027 and make further payments in 2028, though the deal could be worth more depending on how many people participate in the settlement.

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Chris Seeger, an attorney who represents about 2,500 clients with talc claims and helped negotiate the settlement, said J&J could ultimately pay $7 billion or more as the settlement doesn’t cap the total payout and rather assigns specific values to qualifying ovarian cancer claims.

Seeger told Reuters in an interview that the plaintiffs “got a fair settlement, and our clients are going to be happy with it.”

The settlement comes after J&J secured a series of courtroom victories, including in individual trials, moves to disqualify plaintiffs’ lawyers and rulings against experts used by plaintiffs. The company won a significant court victory last week when a federal judge cast doubt on individual plaintiffs’ ability to prove that talc specifically caused their ovarian cancer.

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Johnson & Johnson has denied that its talc products caused cancer and said the settlement is a way to end the litigation. (Cristina Arias/Cover/Getty Images)

J&J has long denied that its talc products caused cancer, saying the products were safe and didn’t contain asbestos. It stopped selling talc-based baby powder in the U.S. in 2020 and switched to a cornstarch product.

The company attempted a legal strategy in which shell-company subsidiaries declared bankruptcy in an effort to settle the cases, though that proved unsuccessful.

It had a mixed record when talc cases went to trial, winning some outright and reducing verdicts on appeal, though it was hit with a multibillion-dollar verdict in a case brought by 22 women.

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The new settlement only applies to existing claims and doesn’t address future lawsuits. The exclusion of future claims made more money available to current plaintiffs and also accelerated the payments so that all claims will be paid within 18 months instead of being spread out over more than a decade, Seeger said.

Reuters contributed to this report.

Meta CEO Mark Zuckerberg wrote in a new op-ed published on Tuesday that the rise of artificial intelligence should be used to empower all people rather than being centralized and controlled by a few institutions.

Zuckerberg wrote in The Wall Street Journal that people will be able to use superintelligence beyond human capacities in the next few years to create and discover new things, as well as drive economic growth and create opportunities. He noted that contrasts with some of the rhetoric from AI developers, and argued that diffusing AI access and its power broadly will lead to a better outcome.

“It is surprising that the discourse from many of those who are developing artificial intelligence is so filled with doom. I don’t understand why anyone who believes that AI will eliminate most jobs and much of humanity’s relevance would rush to build that future,” he wrote.

“The notion that AI is so dangerous that the only safe path is an extreme concentration of power seems dangerous. Historically, hoping that an absolute power will benevolently provide for humanity if sufficiently enlightened hasn’t led to safe or positive outcomes,” Zuckerberg explained.

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Meta CEO Mark Zuckerbreg argued that AI should be diffused rather than concentrated in a few institutions. ( John Nacion/Variety via Getty Images)

Zuckerberg said that there have been many transformative advances in technology throughout history that have stoked fears it would leave people behind, and that ultimately people enjoyed more prosperity, health and freedom as those technologies progressed.

“Putting power in people’s hands to pursue their own aspirations is how humanity has made the most progress. Novel ideas and major steps forward rarely originate from established institutions alone,” he wrote.

Zuckerberg alluded to how massive technological developments for humanity like flight, electricity and personal computing were advanced by individuals without deep ties to institutions. He said that as “everyone gains more powerful tools, each person will become more capable of shaping the future, not less.”

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The rise of AI is leading to technological advances as well as investment in infrastructure, like new data centers. (Meta)

The Meta CEO acknowledged that there is a balance between the use of AI for automation and it being a tool that empowers innovation and enables people to expand skills and launch businesses, adding that if the balance leans toward automation it could have a negative impact on jobs and the economy.

“But if superintelligence is widely distributed, then I believe we will see more jobs in the future, not fewer. It will be significantly easier to start businesses without raising large amounts of capital.”

“I expect the economy will become more entrepreneurial with a greater number of people working at small businesses rather than larger companies,” he wrote.

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Zuckerberg said he thinks AI-powered superintelligence can bring about a positive future for humanity. (Reuters/Manuel Orbegozo)

Zuckerberg added that the development of superintelligence “will be the most profound technological advance we will see in our lifetimes.”

“Meta is committed to building with the principles of individual empowerment, invention and balance of power. The arc of human history has bent toward putting more power in people’s hands.” 

“If these values lead the way, then I am optimistic that we can build a positive future for everyone,” he wrote.

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eBay and some former executives have agreed to pay a couple $56m (£42m) after a campaign of harassment in retaliation for their online criticism of the firm.

In a statement on Tuesday, David and Ina Steiner, said they and eBay had reached a settlement stemming from the 2019 harassment they faced at the hands of several of the company’s executives, including eBay’s then chief executive.

The Steiners ran a website and newsletter EcommerceBytes that was at times critical of eBay.

A group of now former company executives ultimately pleaded guilty to sending the couple a costume mask covered in pigs blood, a book on surviving the death of a spouse, among other threatening actions.

Other actions, external perpetrated against the Steiners included eBay executives sending them a funeral wreath and harassing messages on Twitter (the social media platform now known as X). Some even paid visits to the couple’s Massachusetts home in a bid to install a tracking device on their car.

Seven former eBay executives pleaded guilty, external to the criminal charges between 2022 and 2024, according to the U.S. Department of Justice.

An FBI agent involved in the investigation said in 2024 that the former executives’ actions were an “unprecedented, relentless, and over-the-top harassment campaign”.

eBay was also criminally charged and entered into a deferred prosecution agreement with the DOJ and agreed to pay a fine of $3m.

While eBay is paying the couple the bulk of the settlement, including $6m to “various non-profit organizations”, Wenig is personally paying $1m toward the settlement.

Wenig left eBay in 2019. The same year, he had sent another eBay executive a text message regarding Ina Steiner which said: “Take her down.”

His contribution is set to go to an unnamed charity that is “dedicated to protecting First Amendment rights” and will be gifted in the name of Ina Steiner, according to the couple’s lawyers.

The First Amendment of the U.S. Constitution protects the right to freedom of speech.

Christopher Murphy of Scalli Murphy Law PC, which represented the Steiners in the case, said on Tuesday: “We believe this resolution sends a clear message that corporations and their executives cannot engage in this type of misconduct without facing significant consequences.”

eBay said: “What the Steiners were subjected to by former eBay employees in 2019 was wrong, reprehensible and should never have happened.”

The company condemned the former employees who ended up pleading guilty to criminal charges that led to the civil lawsuit, and admitted to an “unprofessional tone in internal communications”.

“This agreement is consistent with our commitment to fairly compensate the Steiners and fulfills our efforts to make things right,” eBay said on Tuesday.

Kelly Ripa’s painful dental surgery has sidelined the daytime TV staple, forcing the famously chatty host into an unusual recovery that has left her unable to speak, according to husband and co-host Mark Consuelos.

During Monday’s episode of “Live with Kelly and Mark,” Consuelos revealed that Ripa had undergone gum graft surgery, explaining the procedure to guest Nick Jonas while filling in for his wife on air.

Consuelos Breaks the News on Air

Consuelos delivered the update directly to viewers and their guest during the broadcast, making clear the procedure was more significant than it might sound. “Kelly sends her love,” Consuelos told Jonas. “Kelly had a little bit — well, it’s not a little — she had a gum graft surgery.”

Gum graft surgery typically helps correct thinning or receding gums, according to the Cleveland Clinic. Consuelos indicated the procedure wasn’t a sudden decision, revealing that Ripa’s dentist had actually recommended it years earlier.

According to Consuelos, Ripa had been advised to undergo the surgery long before she finally went through with it, and had even joked about the timeline when the recommendation was first made. “Her dentist said five years ago, ‘You can do it in about five years,’” Consuelos recalled. “And she joked, ‘I didn’t think I’d still be on the air in five years!’”

An Unusual Recovery for the Chatty Host

Perhaps the most notable detail Consuelos shared was that Ripa’s recovery process requires her to avoid talking altogether, a significant challenge for someone whose career centers on conversation. Jonas found the situation amusing given Ripa’s on-air persona. “Wow. That’s got to be the hardest thing she’s ever done,” Jonas joked.

Consuelos, describing his wife as “such a great conversationalist,” suggested he was having some difficulty ensuring she actually follows her doctor’s instructions during the recovery period. “I’m trying to keep her to follow the rules, follow the directions,” he said.

Keeping an Eye on the Healing Process

Beyond simply staying quiet, Consuelos also described the challenge of managing Ripa’s curiosity about her own healing progress at home, saying the hardest part of her recovery wasn’t the physical pain but keeping her from constantly checking on the surgical site. “Last night she was like, ‘Can you look?’ I’m like, ‘I’m not pulling your lip down,’” Consuelos said, describing how Ripa instead positioned herself so he could check without touching her lip directly. “So I’m down there like, ‘It looks great!’”

A Surgery Notable for How Much It Hurt

What made this particular procedure stand out, according to Consuelos, was how unusual it was for Ripa to acknowledge being in real pain, given her typical tolerance for discomfort at the dentist. “Yeah, it’s painful,” he told Jonas. “But she famously doesn’t feel pain. When she goes into the dentist, she doesn’t use the novocaine. But this one hurts, so I know it’s bad.”

A Tangent on Pain Tolerance

Ripa’s reputation for shrugging off pain led to a broader conversation between Consuelos and Jonas about pain tolerance more generally, with Jonas noting his own wife, singer and actress Danielle Jonas, shares a similar tendency to downplay discomfort. “I’ll be like, ‘Are you in pain?’ She’s like, ‘I’m fine!’ Come to find out her foot’s, like, falling off,” Jonas joked. Consuelos offered his own theory for the pattern, pointing to childbirth as a broader example. “Well, they do have kids. They deliver kids,” Consuelos added. “We’re not built for that.”

Ripa’s absence from the show is expected to extend beyond just a day or two as she completes her recovery. Ripa is not expected to return to “Live” for the next week, a representative for the show confirmed to People.

A Long-Running Partnership on Daytime TV

Ripa and Consuelos have co-hosted “Live with Kelly and Mark” together since 2023, continuing a franchise that has been a fixture of daytime television for decades under various co-host pairings. The married couple, who have been together for more than two decades, have built much of their on-air chemistry around exactly the kind of candid, personal banter that characterized Monday’s discussion of Ripa’s surgery and recovery.

Not the First Health Detail Ripa Has Shared Publicly

This isn’t the first time Ripa’s health and personal medical decisions have become a topic of public discussion on the show or in interviews. Ripa has previously spoken openly about other health and cosmetic choices in interviews, part of a broader pattern of candor that has become a hallmark of her on-air persona and contributed to her reputation as an unusually open daytime television personality.

With Ripa expected to remain off the air for roughly a week while she completes her recovery from the gum graft procedure, Consuelos is likely to continue hosting alongside guest co-hosts or additional appearances from friends of the show during her absence. Fans of the program can expect Ripa to return to her usual on-air banter once her doctor clears her to resume talking freely, with Monday’s segment offering a lighthearted, if unusually personal, glimpse into the couple’s home life during her recovery.

Shares of Sanmina Corporation tumbled Tuesday morning, falling 20.50% to $166.15, wiping out $42.75 in value even after the electronics manufacturing company reported earnings that significantly beat Wall Street’s expectations for its fiscal third quarter.

The steep selloff highlights how sharply investor sentiment can turn on forward guidance, even when a company delivers a clear earnings beat on both the top and bottom lines.

A Clear Earnings Beat

Sanmina posted quarterly earnings results for its fiscal third quarter of 2026 on Monday, July 27, reporting earnings of $3.31 per share, beating estimates of $2.83 by 48 cents. Other analyst trackers put the size of the beat even larger, with the company topping consensus estimates of $2.77 by 54 cents per share, according to FiscalAI.

The company’s revenue performance was similarly strong relative to expectations. Sanmina reported revenue of $3.46 billion during the quarter, compared with analyst expectations of roughly $3.40 billion, representing year-on-year revenue growth of 69.7% and beating Wall Street’s estimates by 1.8%.

Impressive Underlying Growth Trends

Beyond simply beating estimates, Sanmina’s underlying earnings trajectory showed accelerating momentum heading into the report. In the quarter, Sanmina reported adjusted earnings per share of $3.31, up sharply from $1.53 in the same quarter a year earlier, with the company’s two-year annual earnings-per-share growth of 41.3% coming in higher than its five-year trend. Analysts noted that Sanmina’s optimistic earnings guidance for the next quarter also blew past expectations, and its adjusted operating income outperformed Wall Street’s estimates by a wide margin.

Where the Disappointment Came From

Despite those clear positives, one specific piece of forward-looking guidance appears to have driven Tuesday’s steep selloff. On the other hand, the company’s revenue guidance for the next quarter missed expectations, even as company management guided for a 64.6% year-on-year increase in sales for the coming quarter. Overall, analysts characterized the quarter as solid with some key areas of upside, but noted the market seemed to be hoping for even more, with the stock trading down 5.5% to $197.44 immediately after Monday’s report before extending losses further into Tuesday’s session.

Updated Full-Year Guidance

Alongside its third-quarter results, Sanmina also provided updated guidance for the current quarter and the full fiscal year. The company updated its fourth-quarter 2026 guidance to a range of $3.05 to $3.35 in earnings per share, and raised its full fiscal-year 2026 guidance to a range of $11.90 to $12.20 in earnings per share. Wall Street separately projected that Sanmina’s full-year earnings per share would grow 17.2%, from $10.52 to $12.33, over the next 12 months.

A Volatile Trading Session

Sanmina’s stock initially moved higher on Monday following the earnings release before reversing course as investors digested the guidance details more fully. SANM stock traded up 47 cents during midday trading on Monday, reaching $208.90, with a trading volume of roughly 1.2 million shares compared with its average volume of about 943,000 shares. That initial positive reaction gave way to the sharp decline that carried into Tuesday’s session, as investors focused increasingly on the revenue guidance shortfall rather than the substantial earnings beat.

A Pullback That Preceded the Earnings Report

Tuesday’s decline adds to a difficult recent stretch for Sanmina shares, which had already been retreating in the weeks leading up to the earnings report. Sanmina’s share price had pulled back over the past month, with a 30-day share price return down 16.4% heading into the report, even as the stock’s momentum over longer time horizons remained strong, highlighted by a year-to-date share price return of 26.7% and a five-year total shareholder return of more than four times the original investment.

Company Fundamentals and Valuation

Beyond the immediate earnings reaction, several other financial metrics offer context for how Sanmina’s business and valuation currently stand. The company reported a return on equity of 16.23% and a net margin of 2.29% for the quarter, along with a market capitalization of approximately $11.20 billion, a price-to-earnings ratio of 44.16, and a price-to-earnings-growth ratio of 0.80. The stock’s 52-week range spans from a low of $97.76 to a high of $288.68, reflecting substantial volatility even before Tuesday’s sharp move.

Insider Selling Activity

In the weeks leading up to the earnings report, several company insiders had also reduced their holdings in Sanmina stock, activity that some investors monitor closely for signals about management’s own confidence. Chief Financial Officer Jonathan P. Faust sold 10,076 shares of Sanmina stock on May 29, at an average price of $265.80, for a total transaction value of roughly $2.68 million, a sale that was executed under a pre-arranged Rule 10b5-1 trading plan and represented an 11.57% decrease in his overall ownership stake. Separately, Director David V. Hedley III sold 500 shares of the company’s stock on May 1 at an average price of $219.52.

Institutional Investor Activity

Ownership data also shows a broadly active institutional investor base around Sanmina’s stock heading into the earnings report, with positions moving in both directions across different funds. Roughly 245 institutional investors added shares of Sanmina stock to their portfolios in the most recent quarter tracked, while 208 institutional investors decreased their positions over the same period, reflecting a mixed but active level of engagement from large investors even before Tuesday’s sharp selloff.

With Sanmina’s updated full-year guidance now pointing toward continued earnings growth despite the revenue guidance shortfall that triggered Tuesday’s decline, investors will be watching closely in the coming quarters to see whether the company’s next-quarter sales materialize closer to its own more optimistic earnings outlook or continue to disappoint relative to Wall Street’s revenue expectations. Given how sharply the stock has moved on both the initial earnings beat and the subsequent guidance-driven selloff, Sanmina’s next several trading sessions are likely to remain closely watched as investors work to reconcile the company’s strong profitability trends with its more measured outlook for near-term sales growth.

This article was written by

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