Coca-Cola Told to Face Lawsuit Over Vitaminwater and 2 Other Dow Movers to Watch
Coca-Cola Co. (NYSE:KO): Current price $40.92
U.S. Magistrate Judge Robert Levy in Brooklyn, New York, says that Coca-Cola should face a class-action lawsuit alleging that it of misled consumers by exaggerating the health benefits of its Vitaminwater drink. However, in a ruling made public on Thursday, Levy said consumers may not sue as a group for damages, which constituted a “central” part of their case, but should instead endeavor to change how Coca-Cola labels and markets the product. Plaintiffs in the lawsuit include residents of California and New York, with backing from the health advocacy group Center for Science in the Public Interest.
Pfizer Inc. (NYSE:PFE): Current price $29.06
Sources told Reuters that Pzifer will not pursue its offer for Onyx Pharmaceuticals Inc., which places Amgen Inc. ahead in acquiring the cancer drug manufacturer, which has a market value close to$10 billion. It’s thought that Pfizer elected to not move forward because Onyx has become too expensive after a recent run-up in its shares, according to Reuter’s sources, who added that Onyx turned down Amgen’s $120-per-share offer and instead put itself on the block June 30.
UnitedHealth Group Inc. (NYSE:UNH): Current price $71.17
UnitedHealth’s second-quarter net income jumped by nearly 8 percent, lifted by a continual growth in enrollment and slower use of health care services. On Thursday, the health insurer said its earnings surpassed Wall Street estimates, and it was able to increase the low end of its 2013 earnings forecast. However, company executives are still warning that federal cuts to the Medicare Advantage program would place pressure on UnitedHealth next year and after.
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