Ticker: Boy Scouts of America changing name to Scouting America; Wall Street drifts to a mixed finish
The Boy Scouts of America is changing its name for the first time in its 114-year history and will become Scouting America. It’s a significant shift as the organization emerges from bankruptcy following a flood of sexual abuse claims and seeks to focus on inclusion.
The organization steeped in tradition has made seismic changes after decades of turmoil, from finally allowing gay youth to welcoming girls throughout its ranks. With an eye on increasing flagging membership numbers, the Irving, Texas-based organization announced the name change Tuesday at its annual meeting in Florida.
“In the next 100 years we want any youth in America to feel very, very welcome to come into our programs,” Roger Krone, who took over last fall as president and chief executive officer, said in an interview before the announcement.
Wall Street drifts to a mixed finish
U.S. stocks held steady Tuesday, as trading on Wall Street calmed following some sharp recent swings.
The S&P 500 edged up by 6.96 points, or 0.1%, to 5,187.70. It was a quiet day following three straight leaps for the index of at least 0.9%.
The Dow Jones Industrial Average added 31.99, or 0.1%, to 38,884.26, and the Nasdaq composite slipped 16.69, or 0.1%, to 16,332.56.
Kenvue, the company whose brands include Band-Aids and Tylenol, rose 6.4% after topping analysts’ forecasts for both profit and revenue in the latest quarter.