4 Consumer Stock Stories Making Tuesday Headlines

Walgreen Co. (NYSE:WAG): Closing price $47.26

Missouri Attorney General Chris Koster on Tuesday filed a lawsuit against Walgreen Co., accusing the pharmacy chain of overcharging customers and employing deceptive display advertising and pricing plans. The suit requests an injunction that would force the chain to cease the allegedly deceptive practices and also seeks unspecified fines and damages. Koster said to Huffington Post, ”My concern is this is not sloppiness — this is a business practice that is consciously intending to steal from sick people that go into Walgreens, from old people that go into Walgreens.”

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Amazon.com Inc. (NASDAQ:AMZN): Closing price $280.93

Amazon on Tuesday introduced the Mobile Associates API for Kindle Fire and other Android devices, which will allow developers to merchandise millions of physical and digital items from Amazon.com within their apps and games, according to a press release. Until Tuesday, if developers wished to create additional revenue channels for their apps, they could utilize a freemium model with digital in-app purchasing or subscriptions, or by employing mobile ads. With the Mobile Associates API, developers now have a new manner with which to monetize their applications and games.

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Sony Corp. (NYSE:SNE) Closing price $20.38

Analyst Takashi Watanabe at Goldman believes that Sony might seize the lead in home entertainment content distribution, writing: “Sony is reportedly in talks with several TV networks including Viacom, according to the August 19 Nikkei. While conditions are not clear, if Sony is successful in securing distribution rights this would put it a step ahead of other online distribution platforms. We would expect Sony’s platform (Sony Entertainment Network) to penetrate the market further if the firm can show superiority in TV content in addition to games, with hardware sales gaining traction as a result.”

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Goodyear Tire & Rubber Co. (NYSE:GT): Closing price $

Goodyear said its new four-year labor contract with United Steelworkers gives it the ability to freeze its defined-benefits pension plans and replace them with a defined contribution plan once full funding is attained. In late July, the union reported that it reached a tentative deal with Goodyear on a new contract but did not report details at that time; that contract was ratified by members on August 22. The deal also lowers the percentage of North American earnings paid out under the firm’s profit-sharing plan and reduces the maximum annual payout during the contract.

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