Texas sues Kenvue and J&J, Truth Social to offer prediction markets

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We’re watching Kenvue and Johnson & Johnson, DR Horton and Trump Media. First, the state of Texas sued Kenvue and Johnson & Johnson, claiming the companies concealed the risk of autism and other disorders in mothers taking Tylenol during pregnancy. Texas alleged that both companies knowingly concealed evidence that the active ingredient in Tylenol was linked to autism and ADHD. Kenvue said the claims were unfounded and maintained that the drug was safe for pregnant women to take. Kenvue, a Johnson and Johnson spinoff, has made Tylenol since 2023. Texas claims this turnaround was to protect Johnson and Johnson from liability for Tylenol’s risks. It’s worth noting that the link between autism and taking Tylenol while pregnant has not been proven.

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Next up, DR Horton’s quarterly home orders beat forecasts as buyers took advantage of falling mortgage rates. DR Horton, which focuses on the first-time buyer market, has been held back by affordability concerns. Many housebuilders, including DR Horton, are discounting properties and offering incentives to keep sales going.

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And finally, social media company Trump Media is getting into the prediction markets business. DJT plans to launch prediction contracts on its accuracy social network, which will allow users to bet on events ranging from political elections to changes in the inflation rate. The initiative adds to Trump Media’s recent efforts to leverage its retail following. This also comes after trading volume on leading markets Polymarket and Kalshi reached a new record.

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As always, you can scan the QR code below to follow the best and worst performing stocks with Yahoo Finance’s trend strips page.