New York, states reach $700 mln settlement with Reckitt over opioid probes
* Stories are summarized by an A.I.
* Companies mentioned: Reckitt, NKE, SNAP, GM, TSLA, and BA
New York, states reach $700 mln settlement with Reckitt over opioid probes
RBGLY (Reckitt Benckiser Group PLC) | Financial Post
New York and other states have reached a $700 million settlement deal with Reckitt Benckiser over allegations that the drug distributor improperly marketed a drug to treat opioid addiction, New York Attorney General Letitia James said on Wednesday. The $700 million settlement amount consists of $500 million for the federal government and as much as $200 million for states that opted into the civil agreement, which did not determine liability. New York’s Medicaid program will receive more than $71.9 million, with more than $39.9 million being returned to New York State, James said. The British drugmaker was indicted in April, accused of deceiving doctors and healthcare benefit programs into believing Suboxone Film, itself a form of opioid, was safer and less susceptible to abuse than similar drugs.
Read More
How Investors Should Approach Nike and Under Armour After the CEO Shuffle
NKE (Nike Inc.) | The Street
Nike and Under Armour have a new sport: the CEO shuffle. Chris Versace, Real Money contributor, and Jacob Sonenshine, a reporter for TheStreet broke down what investors should expect from both companies under their new CEO's. Let's Start With Nike. Nike announced CEO Mark Parker will step down in 2020, and board member John Donahoe will take over as president and chief executive, effective Jan. 13. The moves are effective Jan. 1. Patrik is the right person to serve as Under Armour's next CEO," said Plank.
Read More
Snap’s Stock May Rebound By 17%, Following Post Earnings Plunge
SNAP (Snap Inc) | Forbes
Snap Inc.’s (SNAP) stock fell by about 5% on October 23, the day after reporting third quarter results. Running-up Into ResultsThe stock ran up very quickly before the company reported results. However, the stock rose to an intraday high of $15.03 by October 22, ahead of the results later that afternoon. The stock fell following results but managed to hold a critical region of technical support around $13.16.
Read More
Workers at large GM plant in Michigan approve contract
GM (General Motors Company) | The Houston Chronicle
United Auto Workers Local 598 at a pickup truck plant in Flint, Michigan, approved the contract Wednesday. The Flint local is the second-largest in the nation, so its approval is a strong sign the contract will be ratified. About 49,000 UAW workers went on strike against GM Sept. 16, crippling GM's U.S. factories and costing the company an estimated $2 billion. Before the Flint vote, the contract was winning by more than 1,000 votes. "With that many yes votes, it will be hard for it not to pass," she said after the Flint vote was announced Wednesday night.
Read More
Elon Musk predicts Tesla energy could be 'bigger' than its EV business
TSLA (Tesla Inc.) | Tech Crunch
The bulk of Tesla’s revenue is generated from sales of its Model S, Model X and Model 3 electric vehicles. The company doesn’t break out revenue generated from solar, energy storage or other products and services. “So, unfortunately that shorted other parts of the company.”Now, the company is committed scaling up energy storage and solar. In the third quarter, Tesla installed 43 megawatts of solar, a 48% increase from the previous quarter. Energy storage deployments have continued to grow, reaching an all-time high of 477 MWh in the third quarter, according to earnings posted Wednesday.
Read More
When Will Boeing 737 Max Fly Again and More Questions
BA (The Boeing Company) | The Washington Post
When will the 737 Max fly again? On July 7, Saudi Arabia’s Flyadeal became the first airline to officially drop the 737 Max, reversing a commitment to buy as many as 50. Virgin Australia has pushed back delivery of its first 737 Max jets by almost two years. The U.S. Securities and Exchange Commission is investigating whether Boeing properly disclosed issues tied to the 737 Max jetliners to investors. ADThe FAA gave final certification to the 737 Max in March 2017, and it entered commercial service two months later.
Read More
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* Companies mentioned: Reckitt, NKE, SNAP, GM, TSLA, and BA
New York, states reach $700 mln settlement with Reckitt over opioid probes
RBGLY (Reckitt Benckiser Group PLC) | Financial Post
New York and other states have reached a $700 million settlement deal with Reckitt Benckiser over allegations that the drug distributor improperly marketed a drug to treat opioid addiction, New York Attorney General Letitia James said on Wednesday. The $700 million settlement amount consists of $500 million for the federal government and as much as $200 million for states that opted into the civil agreement, which did not determine liability. New York’s Medicaid program will receive more than $71.9 million, with more than $39.9 million being returned to New York State, James said. The British drugmaker was indicted in April, accused of deceiving doctors and healthcare benefit programs into believing Suboxone Film, itself a form of opioid, was safer and less susceptible to abuse than similar drugs.
Read More
How Investors Should Approach Nike and Under Armour After the CEO Shuffle
NKE (Nike Inc.) | The Street
Nike and Under Armour have a new sport: the CEO shuffle. Chris Versace, Real Money contributor, and Jacob Sonenshine, a reporter for TheStreet broke down what investors should expect from both companies under their new CEO's. Let's Start With Nike. Nike announced CEO Mark Parker will step down in 2020, and board member John Donahoe will take over as president and chief executive, effective Jan. 13. The moves are effective Jan. 1. Patrik is the right person to serve as Under Armour's next CEO," said Plank.
Read More
Snap’s Stock May Rebound By 17%, Following Post Earnings Plunge
SNAP (Snap Inc) | Forbes
Snap Inc.’s (SNAP) stock fell by about 5% on October 23, the day after reporting third quarter results. Running-up Into ResultsThe stock ran up very quickly before the company reported results. However, the stock rose to an intraday high of $15.03 by October 22, ahead of the results later that afternoon. The stock fell following results but managed to hold a critical region of technical support around $13.16.
Read More
Workers at large GM plant in Michigan approve contract
GM (General Motors Company) | The Houston Chronicle
United Auto Workers Local 598 at a pickup truck plant in Flint, Michigan, approved the contract Wednesday. The Flint local is the second-largest in the nation, so its approval is a strong sign the contract will be ratified. About 49,000 UAW workers went on strike against GM Sept. 16, crippling GM's U.S. factories and costing the company an estimated $2 billion. Before the Flint vote, the contract was winning by more than 1,000 votes. "With that many yes votes, it will be hard for it not to pass," she said after the Flint vote was announced Wednesday night.
Read More
Elon Musk predicts Tesla energy could be 'bigger' than its EV business
TSLA (Tesla Inc.) | Tech Crunch
The bulk of Tesla’s revenue is generated from sales of its Model S, Model X and Model 3 electric vehicles. The company doesn’t break out revenue generated from solar, energy storage or other products and services. “So, unfortunately that shorted other parts of the company.”Now, the company is committed scaling up energy storage and solar. In the third quarter, Tesla installed 43 megawatts of solar, a 48% increase from the previous quarter. Energy storage deployments have continued to grow, reaching an all-time high of 477 MWh in the third quarter, according to earnings posted Wednesday.
Read More
When Will Boeing 737 Max Fly Again and More Questions
BA (The Boeing Company) | The Washington Post
When will the 737 Max fly again? On July 7, Saudi Arabia’s Flyadeal became the first airline to officially drop the 737 Max, reversing a commitment to buy as many as 50. Virgin Australia has pushed back delivery of its first 737 Max jets by almost two years. The U.S. Securities and Exchange Commission is investigating whether Boeing properly disclosed issues tied to the 737 Max jetliners to investors. ADThe FAA gave final certification to the 737 Max in March 2017, and it entered commercial service two months later.
Read More
Download Folo, add stock symbols to your watchlist, and get notified.
When you look up U.S or China stock symbols and add them to Watchlist, Folo, an A.I. based news curator will keep you updated with stock news from 270 sources.
Download on the App Store
http://folo.moya.ai
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