Johnson & Johnson (NYSE:JNJ): The FDA has posted a letter of warning dated May 22 to Johnson & Johnson’s McNEIL-PPC unit claiming that a proper investigation of consumer objections regarding the company’s K-Y Liquibeads Vaginal Moisturizer was not carried out. The company is ordered in the letter to begin timely action to remedy violations addressed, and “failure to promptly correct these violations may result in regulatory action being initiated by the FDA without further notice.”
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Dell (NASDAQ:DELL) will respond to calls from its customers for further innovation in support of hyperscale environments, and is equipping its ecosystem for ARM-based servers. This market is nearing an inflection point, marked by heightened customer attention to testing and developing applications, and Dell holds that this is the moment to assist fostering development and testing of operation systems and applications for such servers. The report of this today is a furthering of Dell’s focus on bringing updated technology innovation to customers.
Chesapeake Energy Corporation (NYSE:CHK) shareholders have received a letter from New York State Comptroller Thomas DiNapoli exhorting them to withhold their votes for directors V. Burns Hargis and Richard Davidson at the company’s June 8 annual meeting. In making this call, DiNapoli cites the company’s dropping share price and claims this financial situation would warrant tossing all members of the board, but only two are up for election.
Facebook (NASDAQ:FB): Despite CLSA’s James Lee beginning coverage with a Buy and $40 PT, today saw a selloff in Facebook. Lee points out that the site’s ad click rates, which concern many, are far higher when ads are aimed at “fans” of a product or service, and he sees this trend and others motivating online ad share benefits at Google’s (NASDAQ:GOOG) expense. However, Paul R. La Monica reports that valuation concerns are driving lack of interest in purchasing Facebook shares on the part of money managers.
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