PITTSBURGH (AP) — Sales slipped during the fourth quarter for Kraft Heinz as some customers, pinched by a bout of inflation, traded down to cheaper brands or did not buy as much.

A number of food makers, citing inflation, have raised product prices and that has helped preserve profits. But that can come at a cost to sales as some customers look for bargains elsewhere.

At Kraft Heinz, prices increased 3.7% and volumes slid 4.4%.

Last week PepsiCo, which makes snacks and drinks, experienced a similar trade-off after multiple price hikes and it posted a rare decline in revenue.

The Kraft Heinz Company on Wednesday reported fourth-quarter earnings of $757 million, or 61 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to 78 cents per share, edging past the 77 cents Wall Street was projecting, according to a survey by Zacks Investment Research.

The processed food company with dual headquarters in Pittsburgh and Chicago posted revenue of $6.86 billion, which fell shy of the $6.97 billion that industry analysts were looking for.

For the year, the company reported profit of $2.86 billion, or $2.31 per share. Revenue was reported as $26.64 billion.

Kraft Heinz expects full-year earnings in the range of $3.01 to $3.07 per share.

NEW YORK (AP) — U.S. stocks are holding steadier Wednesday, a day after skidding to sharp losses on worries that high interest rates may stick around for months longer than hoped.

The S&P 500 was 0.3% higher in midday trading after tumbling 1.4% on Tuesday. A hotter-than-expected report on inflation forced investors to delay forecasts for when the Federal Reserve may begin cutting interest rates, potentially into the summer. Expectations for such cuts are a big reason stocks rallied to records recently.

The Dow Jones Industrial Average was edging down by 10 points, or less than 0.1%, after dropping 524 points for its worst loss in nearly 11 months. The Nasdaq composite was 0.3% higher, as of 11 a.m. Eastern time.

The smallest stocks, which took the hardest hit from worries about higher interest rates on Tuesday, bounced back more than the rest of the market. The Russell 2000 index jumped 1%.

Helping to keep things steadier was a calmer bond market. Treasury yields were easing after shooting upward a day earlier on expectations the Fed would keep rates high for longer. The central bank has already jacked its main interest rate to the highest level since 2001 in hopes of slowing the overall economy just enough to grind high inflation down to its target.

The yield on the 10-year Treasury edged down to 4.28% from 4.32% late Tuesday. It’s still well above its 3.85% level at the start of this month.

DaVita jumped 6.4% for one of the S&P 500’s larger gains after the health care company reported stronger profit and revenue for the latest quarter than analysts expected.

Most companies in the S&P 500 have been topping analysts’ forecasts for the last three months of 2023. Hopes for stronger growth in 2024 from a solid economy have been another reason the S&P 500 has set 10 records already this year.

Lyft shares were 32.3% higher after a wild ride in off-hours trading driven by a typo in its latest earnings report. The ride-hailing company reported stronger profit and revenue than analysts expected, but its press release also said it expects a key measure of profitability to improve by 500 basis points, or 5 percentage points. Later, it said that should have been 50 basis points, or 0.5 percentage points.

Lyft’s stock had rocketed up 60% in after-hours trading Tuesday following the typo.

Rival Uber Technologies rose 11.8% after its board authorized a program to buy back up to $7 billion of its stock. Investors tend to like such programs because they send cash directly to shareholders and can boost per-share profits.

Robinhood Markets gained 8.6% after it reported a profit for the latest quarter, when analysts were expecting a loss. The stock and crypto trading platform also said its total net revenue rose 24%, more than analysts expected.

Online vacation rental booker Airbnb slid 4.6% after it reported losing $349 million in the fourth quarter due to an income tax settlement with Italy. Analysts had been expecting a profit.

The company forecast first-quarter revenue that would meet or beat Wall Street expectations, however, Airbnb said the pace of bookings growth is likely to “moderate” from the fourth quarter into the first.

Akamai Technologies dropped 7.9% after it reported mixed results. Its profit for the latest quarter topped analysts’ forecasts, but its revenue fell short.

In stock markets abroad, London’s FTSE 100 rose 0.8% following a better-than-expected report on inflation in the United Kingdom.

Hong Kong’s Hang Seng index gained 0.8% after trading reopened there, but markets remained closed in mainland China for the Lunar New Year holiday. Stocks fell elsewhere in Asia, with Japan’s Nikkei 225 down 0.7% and South Korea’s Kospi down 1.1%.

(Story by BCR Intern Isaiah Wise)

The Pennsylvania Department of Transportation announced that it will be closed on Saturday February 17, 2024, through Monday, February 19, 2024, in observance of Presidents Day. Customers are still able to go online and obtain vehicle information about products and services through PennDOT’s driver and vehicle services websites.

There is still a 24 hour driver and vehicle online service available seven days a week. If you need assistance with a driver’s license, photo ID and vehicle registration renewal, change of address, etc. you can do that by scheduling an appointment. There are no additional fees for using online services. 

If you are a motorist you can check conditions on major roadways by visiting www.511PA.com.  which is free and available 24 hours a day. They keep motorists updated about traffic delay warnings, weather forecasts, traffic speed information, and access to more than 1,000 traffic cameras.

(Matt Drzik/Beaver County Radio)

The St. Barnabas Health System has been recognized for their accomplishments in senior living and home healthcare, as they have achieved two gold awards from the Cranberry Eagle readers’ poll.

The Arbors in Valencia received Gold Award honors in the Assisted Living category, and also achieved a Gold Award in the Home Healthcare category. Additionally, St. Barnabas picked up bronze awards in two other categories: Senior Retirement Facility and Independent Living.

In Beaver County, St. Barnabas operates several facilities including Beaver Meadows in Brighton Township, and both the East Rochester and Tusca Shop N’ Save supermarkets.

(Story by BCR Intern Isaiah Wise)

A man from Homestead, Pennsylvania has been indicted on drug trafficking and machine gun charges. 27-year-old Erik Addison will be indicted by a federal grand jury in Pittsburgh on charges of violating federal narcotics and firearms laws.

On May 8th Addison possessed with intent to distribute a quantity of fentanyl and a quantity of a mixture of heroin and fentanyl. He then went on to possess a machine gun in furtherance of a drug trafficking crime,and that he possessed a firearm and ammunition as a convicted felon.

According to the law, for a mandatory minimum sentence of 30 years of imprisonment for possession of a machine gun in furtherance of a drug trafficking crime, with a maximum total sentence of up to life in prison, a fine of up to $250,000, or both.

(AP) Thousands of U.S. ride-hailing workers plan to park their cars and picket at major U.S. airports Wednesday in what organizers say is their largest strike yet in a drive for better pay and benefits.

Uber and Lyft drivers plan daylong strikes in Chicago; Philadelphia; Pittsburgh; Miami; Orlando and Tampa, Florida; Hartford, Connecticut; Newark, New Jersey; Austin, Texas; and Providence, Rhode Island. Drivers also plan to hold midday demonstrations at airports in those cities, according to Justice for App Workers, the group organizing the effort.

Rachel Gumpert, a spokesperson for Justice for App Workers, said ride-hailing drivers in other cities may also demonstrate or strike for at least part of the day.

Uber said Tuesday it doesn’t expect the strike to have much impact on its operations on Valentine’s Day.

“These types of events have rarely had any impact on trips, prices or driver availability,” Uber said in a statement. “That’s because the vast majority of drivers are satisfied.”

Gumpert described ride-hailing as a “mobile sweatshop,” with some workers routinely putting in 60 to 80 hours per week. Justice for App Workers, which says it represents 130,000 ride-hailing and delivery workers, is seeking higher wages, access to health care and an appeals process so companies can’t deactivate them without warning.

Gumpert said last year’s strikes at U.S. automakers — which led to more lucrative contracts for their unionized workers — helped embolden ride-hailing workers.

“It’s incredibly inspiring. When one worker rises up, it brings courage to another workers,” Gumpert said.

But ride-hailing companies say they already pay a fair wage.

Earlier this month, Lyft said it began guaranteeing that drivers will make at least 70% of their fares each week, and it lays out its fees more clearly for drivers in a new earnings statement. Lyft also unveiled a new in-app button that lets drivers appeal deactivation decisions.

“We are constantly working to improve the driver experience,” Lyft said in a statement. Lyft said its U.S. drivers make an average of $30.68 per hour, or $23.46 per hour after expenses.

Uber said its U.S. drivers make an average of $33 per hour. The company also said it allows drivers to dispute deactivations.

HARRISBURG, Pa. (AP) — Democrats retained their slim majority in the Pennsylvania House of Representatives on Tuesday after voters elected a former school board member to represent them in a Philadelphia suburb that has been trending more to the left.

Jim Prokopiak’s election to the Bucks County seat will give Democrats a 102-100 majority in the House, which they have sought to defend in four special elections in the past year. A Republican lawmaker’s resignation last week shifted the power back to Democrats, and Prokopiak’s win kept it in place.

He defeated Republican challenger Candace Cabanas and will replace former state Rep. John Galloway, who resigned to serve as a magisterial judge. Cabanas has said previously she plans to run again during the general election.

“What I heard from voters is that Bucks County residents need help supporting their families, want control over their own bodies, and ensure they have the ability to chart their own paths in life,” Prokopiak said in a statement. “I’m committed to taking my conversations with voters to Harrisburg and making their dreams a reality.”

While campaigning, Prokopiak, 49, said his goals as a lawmaker aligned with the party’s larger ambitions since they retook the chamber — more money for K-12 education, preserving access to abortions and a higher minimum wage.

“No one can afford to live on the federal minimum wage in this area,” he said. “If we’re going to be talking about good-paying jobs and creating life-sustaining jobs, the first thing we have to do is raise the minimum wage because it’s clear that is not sustaining anybody.”

Democrats have kept all six seats that have gone up for special elections in the past year, in mostly reliably Democratic districts. Prokopiak will represent a seat that has favorably elected Democrats in past election cycles.

Galloway’s seat has trended Democratic, and Republicans have slowly been losing their grip on the county as a whole.

The race drew national attention from the Democratic Legislative Campaign Committee, which spent $50,000 to protect the party’s majority in the chamber.

It was a first step for the committee, which has said it is planning to spend at least $60 million on statehouse races nationally this cycle, the group’s largest-ever budget. It will feature special emphasis on erasing GOP majorities in Arizona and New Hampshire and in the Pennsylvania Senate while holding small Democratic majorities claimed in 2022 in Minnesota and Michigan.

“This victory is a promising sign for Democrats up and down the ballot this year – it’s clear that momentum is on our side,” Democratic Legislative Campaign Committee President Heather Williams said in a statement, adding that their focus will be on defending the House majority and flipping the state Senate.

Democrats in Pennsylvania have used their newfound power this year to advance a number of the caucus’ priorities, and they have a philosophical ally in the governor’s office with Democratic Gov. Josh Shapiro. The Legislature remains politically divided with a firm Republican majority in the Senate.

“Over the last year I think, since the Democrats have been in the majority, they’ve pushed legislation that has helped the middle class,” Prokopiak said previously. “I want to do that.”

(Sandy Giordano/Beaver County Radio)

The Hopewell Area School District is seeking to fill the front seats on their school buses, as Superintendent Dr. Jeff Beltz spoke about the shortage of drivers at the School Board’s latest meeting on Tuesday night.

The announcement came on the heels of a pair of resignations by bus drivers that were approved by the school board, along with the resignation of a paraprofessional at the elementary school.

Beltz said that there is free CDL training for those who are interested in being a school bus driver for Hopewell.

Story by Curtis Walsh – Beaver County Radio. Published February 13, 2024 10:24 P.M.

(Beaver Falls, Pa) A month after a woman identified as 41-year-old Rebecca Miller of Beaver Falls was found dead on a walking trail behind Geneva College in Beaver Falls, Beaver County Radio has learned new information regarding the homicide case. At a Beaver Falls City Council Meeting Tuesday evening, we asked the Council why residents were told there was no danger to the community, even though very little information about the situation has been released including if police have actually identified any suspects.

Beaver Falls Mayor Kenya Johns responded initially saying that “right now it’s an active investigation and we can’t get involved with that, so that’s not a question we really could answer, if there’s anything we could give, we would.”

Deputy Mayor Peggy Evans proceeded to then tell Beaver County Radio, SOMA prays out front of Geneva on Thursdays at 8am. She says they pray “for the woman who was murdered in our city” and added “we’re just praying that whoever done it will just reveal themselves, we’re just praying that their hearts become heavy enough and come to the frontline on their own”. Evans statement suggests that police currently do not know who killed Miller.

SOMA is a Christian community organization in Beaver Falls and Evans says any community members are welcome to join in the prayer sessions.

Beaver County Radio also reached out to Coroner David Gabauer Tuesday to find out if the autopsy report had been completed. Gabauer responded, “it is an ongoing investigation and there is no new evidence including the autopsy report”.

The City of Beaver Falls Police Department have yet to publicly say the case is a homicide or if they had a suspect. However, hours after the scene was cleared on January 11th, Police Chief David Johnson and District Attorney Nate Bible released a statement that they do not “believe there is a danger to residents or the community”.

A week after Miller was found, they released a statement asking for help obtaining security footage from anyone in the area but wouldn’t say what they were looking for. Beaver County Radio witnessed police back at the scene two weeks after the body was found, appearing to be collecting or searching for evidence.

While there is no evidence that the events are connected, Beaver County Radio has noticed that 3 Beaver Falls Police officers have resigned since the incident.

Miller was last known to be going on a walk with a male friend on January 7th before being reported missing on January 9th.

(Matt Drzik/Beaver County Radio)
(Photo/Ceisler Media)

The Center In Midland has received a $3,000 donation from Vistra Energy and its subsidiary Dynergy on Monday, which will go to its youth development program.

Along with the youth development program, the Center is also responsible for a food bank, thrift shop, mentoring services and counseling among other resources. They have on-site counselors and community volunteers to help run the operation.

“We are beyond grateful for the support of Vistra/Dynegy,” said Jen Miller, Executive Director of The Center. “On behalf of the lives of so many beautiful children and families their generosity will impact, thank you!”

Members from Vistra and Dynegy were at the Center yesterday along with State Representative Josh Kail to present the award, which is part of a $10,000 initiative by Vistra to organizations in Beaver, Butler, and Washington counties.

“The Center in Midland is all about helping neighbors. Their goodwill is changing lives and giving hope and strength to children and families throughout the region,” said state Rep. Joshua Kail (R-15th), who represents portions of Beaver County, including Midland. “I’m grateful for the commitment Vistra and Dynegy have made to support these local efforts.”