The Varni Daily

Reno will not renew its Flock license plate reader contract

The contract runs through March 17, 2027.

Councilmember Kathleen Taylor announced at a Thursday town hall that the City of Reno is terminating its contract with Flock Safety, and Councilmember Devon Reese echoed the announcement Friday, KOLO reported. A letter from City Manager Jackie Bryant gave notice that the agreement will not automatically renew; the contract expires March 17, 2027, KUNR reported.

The city also sent a letter ending its contract with BRINC, a Motorola subsidiary that provides police drones, and Reese said the council will consider next steps, including a potential new contract and usage standards, KUNR reported.

Great Italian Festival wraps up in downtown Reno today

Runs 10 a.m. to 6 p.m. Sunday.

The 44th annual Great Italian Festival continues Sunday, Oct. 11, from 10 a.m. to 6 p.m. on Virginia Street downtown, 2 News reported. The Downtown Reno Partnership lists no ticket or entry fee.

Reno small-business owners describe rising costs to Sen. Cortez Masto

Restaurant owners cited transportation and supply costs.

Sen. Catherine Cortez Masto met Friday with Reno business owners, who said rising costs are affecting employees and customers, KOLO reported. Kasey Christensen, co-owner of Süp, said owners are struggling to pay a living wage.

Reno-Sparks CROP Hunger Walk set for Sunday, Oct. 18

35th annual walk benefits local food programs.

Registration opens at 1:30 p.m. and the walk begins at 2 p.m., KOLO reported. Funds are shared with Church World Service and with the Food Bank of Northern Nevada, Ridge House and Eddy House.

State worker union SEIU Local 1000 sets one-day strike for Oct. 21

96% of voting members authorized a strike.

SEIU Local 1000, which represents about 100,000 California state employees, said members authorized a strike with 96% of votes cast, and CalMatters reported the union set a one-day walkout for Oct. 21, KALW reported. The union’s contract expired June 30; CalHR said the state remains open to negotiation and is prepared to move into mediation.

Former Oakland Mayor Sheng Thao’s federal bribery trial set to begin Tuesday

Co-defendants include her partner and two waste-company executives.

The trial of Thao, her partner Andre Jones, and California Waste Solutions executives David Duong and Andy Duong is scheduled to begin Tuesday, more than two years after the FBI raided her home, ABC7 reported.

San Francisco asks state regulators to investigate 40 PG&E outages

Request follows the December Mission Substation fire.

San Francisco officials asked the California Public Utilities Commission to open a public investigation into PG&E reliability, citing 40 major unplanned outages since the December blackout, the San Francisco Standard reported.

One dead in multi-vehicle crash on Highway 101 in San Jose

Southbound lanes near Tully Road closed until about 9 a.m. Saturday.

One person died in a crash reported around 5:30 a.m. Saturday north of the Tully Road off-ramp, and all southbound lanes were closed until about 9 a.m., the CHP said, according to NBC Bay Area.

Caltrans plans another encampment sweep in San Jose starting Monday

Area north of I-280 near McLaughlin Avenue and Olinder Park.

Caltrans plans to sweep the area north of Interstate 280 at McLaughlin Avenue, Woodborough Place and Olinder Park from Monday through the end of October, San José Spotlight reported.

At least 4 dead as weakened Isaias brings flood and tornado threats across the Southeast

Storm expected to dissipate Sunday.

Isaias made landfall near Destin, Fla., Friday night as a Category 2 hurricane and weakened within hours to a post-tropical cyclone; at least four people died, two in Alabama and two in Florida, CBS News reported. More than 700,000 customers were without power across the Southeast Saturday afternoon, and flood watches remained for the southern Appalachians.

President Trump approved an emergency declaration for Georgia Saturday after earlier declarations for Florida and Alabama, FEMA said, and the Energy Department authorized emergency crude oil exchanges from the Strategic Petroleum Reserve to Exxon Mobil and BP America.

Gunman kills 8 at Erie, Pennsylvania, home before apparently taking his own life

Victims include two children and a woman eight months pregnant.

A man fatally shot eight people Friday at a home in Erie, Pa., before appearing to take his own life, police said; all but one of the victims were related, the BBC reported. Police Chief Rick Lorah said a motive had not been established.

Federal Medicaid funding ends for many refugees and other legal immigrants

Change took effect Oct. 1; green-card holders remain eligible.

As of Oct. 1, federal Medicaid funding no longer covers full benefits for many refugees, asylees, parolees and trafficking victims who are not green-card holders, AP reported. More than 281,000 legal immigrants in nine states and Washington, D.C., are estimated to lose coverage; emergency Medicaid remains federally funded.

Trump says the U.S. ‘may’ join Saudi strikes on the Houthis

Comments followed Saturday’s Riyadh airport attack.

Asked whether Washington planned to join Saudi strikes on the Houthis, President Trump said, “We may. We’re going to look at it,” Reuters reported. Secretary of State Marco Rubio condemned the attacks.

Houthi attack on Riyadh airport kills 12 and wounds more than 300

Third attack this week on King Khalid International Airport.

Saturday’s attack on Riyadh’s international airport killed at least 12 people, including four Saudis and one U.S. citizen, and wounded 309, the Saudi civil aviation authority said, Reuters reported. All flights were diverted and airport operations were temporarily suspended; a Saudi-led coalition vowed to respond.

The U.S. Embassy in Riyadh recommended that U.S. citizens avoid the airport and surrounding areas.

Russian strike on Zaporizhzhia kills 20, including three children

Came a day after the U.S. lifted sanctions on Russian diesel exports.

Twenty people were killed and 18 wounded in a Russian attack on the southern Ukrainian city of Zaporizhzhia on Saturday, Reuters reported. President Volodymyr Zelenskyy said Russia dropped five glide bombs on residential buildings. A missile also hit a restaurant in Kyiv, wounding seven.

Trump says it is ‘time for Ukraine to get a new president’

Comments followed Zelenskyy’s criticism of the U.S.-Russia diesel deal.

President Trump said Saturday that Ukraine should get a new president, blaming Zelenskyy for high U.S. diesel prices, the BBC reported. TASS reported that U.S. negotiators Steve Witkoff and Jared Kushner may visit Moscow within two weeks, according to Reuters.

Panama declares state of emergency after 7.7 and 6.6 magnitude earthquakes

No deaths reported; 27 injured and damage in all 10 provinces.

Officials reported damage in all 10 provinces and two Indigenous territories, including about 420 homes and 420 public schools, and recorded more than 100 aftershocks up to magnitude 5.8, AP reported via the Guardian. The U.S. State Department deployed a disaster response team and pledged $5 million in humanitarian aid.

Hurricane Simon reaches Category 4 strength approaching Mexico’s Pacific coast

Hurricane warning includes the Manzanillo area.

The U.S. National Hurricane Center said Simon, with winds up to 150 mph, was expected to approach or move just inland of Mexico’s west-central coast late Saturday or early Sunday, with 10 to 20 inches of rain possible, Al Jazeera reported. Jalisco suspended classes in 22 coastal municipalities and began evacuations.

Telecom stocks slide worldwide after SpaceX buys 800 MHz spectrum

Deal valued at about $8 billion, a source told Reuters.

T-Mobile US fell 13.2% Friday and AT&T and Verizon about 10% after SpaceX agreed to acquire Grain Management’s nationwide 800 MHz spectrum portfolio for its Starlink Mobile service, Reuters reported. Deutsche Telekom fell 7.9% and the STOXX 600 telecom index dropped more than 2.9%; tower operators American Tower, Crown Castle and SBA Communications rose 6.5% to 13.3%. The deal requires regulatory approval.

EU and China reach initial trade deal

EU says it could cut up to 50% of Chinese EV and plug-in hybrid imports.

EU trade commissioner Maroš Šefčovič said the preliminary deal includes lower Chinese tariffs on some European goods, worth almost 4 billion euros in current exports, and steps on rare-earth export licensing, Fortune reported. The deal requires approval from EU leaders, whom Šefčovič will brief next week.

Micron raises buyback authorization to $35.16 billion

Purchases may begin Dec. 9.

Micron’s board increased its share-repurchase authorization to $35.16 billion, with purchases allowed to begin Dec. 9 subject to CHIPS Act funding-agreement restrictions, according to the company’s annual report filing, TickerGrove reported.

Wall Street logged weekly gains Friday ahead of bank earnings and CPI

Dow rose 0.83% to 51,654.95.

The S&P 500 rose 0.59% to 7,811.54 and the Nasdaq 0.64% to 27,366.17 on Friday, with all three major indexes posting weekly gains, Reuters reported.

Big banks open third-quarter earnings season Tuesday

S&P 500 Q3 earnings expected up more than 30%.

JPMorgan, Goldman Sachs, Citigroup and Wells Fargo report Tuesday and Morgan Stanley and Bank of America on Wednesday, Reuters reported; LSEG IBES data show S&P 500 third-quarter earnings expected up more than 30%.

Highest / most active volume

Telecoms and towers led Friday’s action.

T-Mobile, AT&T and Verizon fell 10% to 13% and Crown Castle rose 12% on the SpaceX spectrum news, CNBC reported. NYSE advancers outnumbered decliners 1.65-to-1, Reuters said.

Biggest percentage gainers and losers

Humana +12%, Alignment Healthcare −14%.

Humana rose 12% on its Medicare Star Rating and Alignment Healthcare fell almost 14%, CNBC reported Friday.

Biggest changes in volatility

VIX fell 3.7% to 14.84 Friday.

The VIX closed at 14.84 and the 10-year Treasury yield was 5.24%, per The Daily Tape market summary.

Unusual activity

Communication services lagged a higher tape.

The Communication Services ETF (XLC) fell 1.51% Friday even as the broad market rose, Dean Financials reported.

Technical confirmation and relative strength

S&P 500 closed at 7,811.54.

All three major indexes posted weekly gains; the Russell 2000 rose 0.46% to 2,806.98 Friday but finished below the prior Friday’s close, Reuters reported.

Earnings reports

Big banks report Tuesday and Wednesday.

JPMorgan, Goldman Sachs, Citigroup and Wells Fargo report Tuesday; Morgan Stanley and Bank of America Wednesday; Johnson & Johnson, UnitedHealth and BlackRock also report this week, Reuters said.

Economic data releases

September CPI on Wednesday.

A Reuters poll expects September CPI up 3.6% year over year and core up 2.5%; producer prices and retail sales are also due this week, Reuters reported.

Fed and central bank events

Fed meets Oct. 27–28.

Traders have reduced expectations of another hike at the Oct. 27–28 meeting after last month’s increase, Reuters reported.

Industry and company-specific catalysts

Telecom and energy in focus.

SpaceX’s 800 MHz spectrum deal awaits regulatory approval, Reuters reported, and the Energy Department authorized SPR crude exchanges after Isaias, CBS News reported.

Ex-dividend dates, splits, and corporate actions

Columbus Day Monday: stocks open, bonds closed.

Monday, Oct. 12, stock markets are open and the bond market is closed, 22V said. Micron’s expanded $35.16 billion buyback can begin Dec. 9.