Samsung recalls 1.1 million stoves over faulty knobs

The Street
The Street
  • 2 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Samsung is recalling over one million stoves.

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Sports
Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:04The stock market rally continued on Thursday with stocks finishing in the green.
00:09Recession fears are on the decline after the biggest drop in weekly jobless claims in 11
00:14months.
00:15Earnings season is also adding to an air of confidence.
00:18Eli Lilly is riding high on the strength of his diabetes and weight loss drugs.
00:22And a surprise quarterly profit at Under Armour was taken as a positive sign on the health
00:27of the consumer.
00:29According to other news, Samsung has issued a recall for knobs for some of its stoves
00:35because the knobs are so sensitive that even a pet can turn on a flame.
00:40Samsung said in a press release, quote, this announcement follows reports that front-mounted
00:45range knobs can be activated through accidental contact by people or pets, posing a fire hazard
00:52if flammable objects are left on top of the range.
00:55There are several viral videos on the internet which show pets turning on stoves with their
01:00paws by jumping up on the unit.
01:02In one incident, home security footage caught a dog accidentally starting a house fire in
01:07Colorado by setting ablaze some boxes that were sitting on top of the stove.
01:12The Consumer Product Safety Commission says the fire threat impacts about 1.1 million
01:16units, both gas and electric, sold between 2013 and 2024.
01:21More than 300 complaints about the knobs have been made to Samsung since 2013.
01:26Two hundred and fifty fires were reported.
01:28Eighteen of those caused, quote, extensive property damage.
01:32And seven fires resulted in the deaths of family pets.
01:37That will do it for your daily briefing from the New York Stock Exchange.
01:40I'm Conway Gittins with the Street.

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