Starbucks and race, Nike and Under Armour ready to battle over NBA, and the content wars heat up

All three major indices (^GSPC, ^DJI, ^IXIC) are giving back a healthy chunk of yesterday’s gains in the first half of the day, as crude (CLJ15.NYM) continues its downward slide. Despite the drops, the VIX, or “fear index,” remains little changed.

“We’re going to sleep here in terms of volatility ahead of the Fed’s decision,” says Yahoo Finance Senior Columnist Michael Santoli.

Other stories capturing attention today include:

Starbucks talks race

The discussion of race in America is now being taken up by Starbucks (SBUX) baristas! The company is launching a campaign called “Race Together,” which includes writings on Starbucks coffee cups and opportunities for employees to talk with customers about race relations.

Apple’s jumps into content wars

Apple (AAPL) is reportedly in talks with broadcasters to offer a streaming TV service this fall. The Wall Street Journal reports that Apple plans to provide a “skinny bundle” of limited network and cable offerings for $ 30 to $ 40 per month. Currently NBC Universal content is not included in the bundle due to a fall-out between NBC parent company Comcast (CMCSA) and Apple.

Under Armour and Nike gear up for NBA battle

Under Armour (UA) is bucking the sell-off trend on Wall Street. Shares of the active wear brand are trading higher through the first half of the day, after rival Adidas announced it would no longer be the official apparel supplier for the NBA. Under Armour and Nike (NKE) are likely to be interested in obtaining the contract.


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