Facebook Denies UN Investigators Data on Somali Pirates and 2 More Heavily Traded Stocks to Follow
Facebook Inc. (NASDAQ:FB): Current price $37.63
Facebook says that it will not provide information regarding alleged Somali pirates to United Nations investigators. A report released by the U.N. Monitoring Group on Somalia and Eritrea in July said that while many private firms helped in the group’s investigative work on matters like piracy, al-Qaida-linked militants, and government corruption, Facebook gave no assistance. The report observed that “Despite repeated official correspondence addressed to Facebook Inc., it has never responded to Monitoring Group requests to discuss information on Facebook accounts belonging to individuals involved in hijackings and hostage-taking.” For its part, Facebook said in a Tuesday statement that the United Nations group possessed no legal authority to demand data, remarking, “We therefore declined their request and referred them to law enforcement authorities,” in an e-mailed statement.
Pfizer Inc. (NYSE:PFE) Current price $29.67
Pfizer and the Justice Department have revealed that the former will pay close to $491 million to settle an inquiry into illegal marketing of its organ transplant drug Rapamune. The drug was okayed in 1999 for use in kidney transplant patients, and the Department says that sales representatives were trained to market the drug for use in other patients. More specifically, the Department of Justice says that Pfizer will pay $257.4 million in civil settlements with federal and state governments, and a $157.6 million criminal penalty. It will forfeit $76 million in assets as well.
Western Union Co. (NYSE:WU): Current price $17.75
The number one money-transfer firm in the world posted a better-than-anticipated second-quarter profit, while less expensive remittance fees enticed more people to use its services, boosting its shares by more than 5 percent in late afternoon trading. Western Union has been reducing prices, and investing hugely in its online and mobile business, so as to compete with its traditional competitor MoneyGram International Inc., as well as upstarts Boom Financial Inc. and Xoom Corp. The lower fees drove remittance volumes for the company, but cut into profits. However, analysts say that the fall was less than expected, and that the company is “moving in the right direction.