Home Depot Recalls Fan Heaters That Can Melt and 2 Other Dow Movers to Watch
The Home Depot Inc. (NYSE:HD): Current price $79.11
The Consumer Product Safety Commission reported that Home Depot Inc. is recalling some 107,000 fan heaters, because the fan’s plastic housing can melt, deform, and catch fire when used. Soleil portable fan heaters with the model number LH-707, made by Shanghai Limach Manufacturing of China, are involved in the recall. The Commission says that Home Depot has received reports of 464 fans melting, but so far, no injuries or property damage have been reported. The circular table fans were sold at Home Depot stores across the United States from September 2012 to May 2013, and cost around $15 apiece. The heaters are approximately 8 inches in diameter and are 8.5 inches tall.
International Business Machine Corp. (NYSE:IBM): Current price $196.22
On Thursday, United States District Judge Richard Leon signed off on IBM’s 2011 settlement with American regulators regarding charges of foreign bribery, which concludes the most recent case that questioned the authorities’ aggressiveness in investigating corporate misconduct. International Business Machines Corp. and the Securities and Exchange Commission agreed to a two-year reporting requirement on accounting fraud or bribery, along with federal investigations. In March 2011, the corporation agreed to pay about $10 million to settle SEC charges over improper gifts to government officials in South Korea and China.
Merck & Co. (NYSE:MRK): Current price $48.18
On Friday, Merck issued a statement on the conclusion of the European Medicines Agency’s Committee for Medicinal Products for Human Use review of GLP-1 — or incretin-based — therapies, including sitagliptin. The EMA issued a news release that reads in part, “Investigation into GLP-1 based diabetes therapies concluded: No new concerns for GLP-1 therapies identified on the basis of available evidence.”