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    Morning Brief: US births at lowest rate since 1987

    Yahoo Finance
    May 17, 2018
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    Thursday, May 17, 2018

    What to watch today

    On Thursday, investors will get the week’s biggest earnings report in the morning as Walmart (WMT) is set to report results for its first quarter before the market open. Analysts are expecting the world’s largest retailer to report adjusted earnings per share of $1.12 on revenue of $120.4 billion, according to estimates from Bloomberg. Global same-store sales excluding gas are expected to rise 2.1%, while U.S. same-store sales should rise 2.3% during the quarter. Investors will also be looking for commentary on the company’s online efforts as Walmart has in recent years stepped up its competition with Amazon (AMZN). Last week, it was announced that Walmart had paid $16 billion for a 77% stake in Indian e-commerce company Flipkart.

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    (AP Photo/Seth Wenig)

    US births hit lowest number since 1987: American women are having children at the lowest rate on record, with the number of babies born in the U.S. last year dropping to a 30-year low, federal figures released Thursday showed. Some 3.85 million babies were born last year, down 2% from 2016 and the lowest number since 1987, according to the Centers for Disease Control and Prevention’s National Center for Health Statistics. [The Wall Street Journal]

    Zuckerberg to meet EU officials — dodging public grilling:  Facebook (FB) CEO Mark Zuckerberg is expected to speak with leaders of the European parliament next week about the data protection scandal that has engulfed his company — but might avoid a public testimony like the one he endured in the U.S. [AP]

    Cisco sales, profit lifted by corporate spending on networks: Cisco Systems Inc. (CSCO) gave an upbeat forecast for fiscal fourth-quarter sales, a signal of healthy demand for equipment and software that runs the internet and corporate networks. Revenue in the current period will rise 4% to 6% from a year earlier, the San Jose, California-based company said Wednesday in a statement. That indicates sales of $12.6 billion to $12.9 billion, compared with an average analyst prediction of $12.7 billion. [Bloomberg]

    Ford to resume production of popular F-Series pickup: Ford (F) is resuming production of its F-Series pickup trucks, ending assembly line shut downs at two of its most important plants that have lasted more than a week. Returning to full production is likely to take some time as the automaker has scrambled to re-establish manufacturing of critical components from a supplier. [CNBC]

    Trump disclosure of Cohen payment raises new legal questions: President Donald Trump revealed in his financial disclosure Wednesday that he reimbursed personal attorney Michael Cohen as much as $250,000 for unspecified “expenses,” with no mention of a $130,000 payment to porn actress Stormy Daniels to keep quiet about a sexual tryst she said they had. The head of the nation’s ethics office questioned why Trump didn’t include this in his previous year’s sworn disclosure and passed along his concerns to federal prosecutors. [AP]

    For more of the latest news, go to Yahoo Finance

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    A Bugatti T 35 A passes through the city centre of Ferrara during the first day of the Mille Miglia on May 16, 2018 in Ferrara, Italy. The 2018 edition of Mille Miglia hosts 467 participants and will run from May 16-19. (Photo by Simone Padovani/Awakening/Getty Images

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    Girl banned from wearing MAGA hat claims school is violating her First Amendment rights

    Pipper: the Supreme Court laid out in four landmark decisions. Schools may restrict students’ speech if it: is likely to disrupt school is lewd promotes illegal drug use, or is part of the curriculum or communications sponsored by the school. The younger the students, the more leeway schools have to control their speech. Several lower courts have recognized another principle: The younger the students, the more leeway schools have to control their speech. (By the same token, colleges and universities have less latitude when they try to restrict older students’ speech.) Disruptive Speech The Supreme Court found that a school violated students’ First Amendment rights by suspending them for wearing black armbands as an antiwar protest (an example of what’s known as “symbolic speech”). As the court explained, school officials may not squelch the expression of unpopular opinions just to avoid “discomfort and unpleasantness.” Instead, they need to show that the banned speech would create a “substantial disruption” at school or would violate other students’ rights. (Tinker v. Des Moines Independent Community School Dist., 393 U.S. 503 (1969).) Students, school administrators, and lower courts often disagree about what qualifies as a substantial disruption. The issue is even more complicated now, when so many controversies over disruptive speech are related to social media posts and other online speech. Courts consider several factors when deciding whether disruption from a student’s speech is too disruptive, including: Did it interfere with classwork or other school activities? Did it cause disorder on campus? Were other students so upset that they couldn’t concentrate or visited school counselors in droves? Did administrators and/or teachers have to take considerable time away from their regular duties in order to deal with the fallout? School officials don’t have to prove that a student’s speech already interfered with school before they take action. But in order to justify punishing the student, administrators do need to show that it was reasonable for them to predict that would happen. The fear of disruption has to be specific and significant. Vague or general worries aren’t enough. Along with the content of the speech, context and tone matter. Vulgar Speech In another case where a high school student gave a speech at school that was filled with explicit sexual metaphors, the Supreme Court found that the First Amendment didn’t prevent schools from disciplining children for offensively lewd and indecent speech. As the court explained, society’s interest in teaching “the boundaries of socially appropriate behavior” outweighed the student’s right to express his views in a way that was highly offensive to many of his classmates. (Bethel School Dist. No. 403 v. Fraser, 478 U.S. 675 (1986).) Dangerous Speech After another high school student was suspended for refusing to take down a banner reading “BONG HiTS 4 JESUS” at a school event, he sued. The Supreme Court found that the principal hadn’t violated the boy’s free speech rights, because it was part of the school’s mission to protect students from messages that could be seen as promoting or celebrating illegal drug use (Morse v. Frederick, 551 U.S. 393 (2007)). Based on the reasoning in Morse, courts have given schools a fair amount of leeway in deciding whether students’ speech poses a danger to their classmates or teachers. School-Sponsored Speech and Student Journalism Teachers and other school authorities are allowed to censor or change what students write or say in school-sponsored publications (like an official school newspaper or yearbook), school plays, or other activities that involve the expression of ideas and are essentially part of the curriculum. The school must have a legitimate educational reason for the censorship. However, this broad editorial control doesn't apply if school authorities have, "by policy or by practice," allowed a school paper or online publication to become what courts call a public forum—meaning that it's an open platform for students to express themselves freely and make key decisions about content without prior approval from teachers or administrators. (Hazelwood School Dist. v. Kuhlmeier, 484 U.S. 260 (1988).) Most courts agree that this rule applies only to K-12 schools. Schools generally have less control over "underground" student journalism, whether online or in print. Also, a few states have laws that give student journalists greater free-speech protections than they have under the federal Hazelwood standard.

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