J&J Attorneys to Try New Plan in Hip Replacement Case and 2 Other Dow Movers to Watch
Johnson & Johnson (NYSE:JNJ): Current price $94.81
Attorneys for Johnson & Johnson and patients injured by a flawed hip implant are expected to announce a multibillion-dollar plan to resolve thousands of lawsuits on Tuesday, but it remained unclear as to whether the arrangement would satisfy a sufficient number of claimants. Source who spoke to The New York Times said the company will pay around $2.475 billion in compensation to an estimated 8,000 patients who were forced to have the all-metal artificial hip removed and replaced with another device. Besides that, the firm will pay all medical costs connected with such procedures; the sources estimate that these expenses could increase Johnson & Johnson’s cost to roughly $3 billion.
International Business Machines Corp. (NYSE: IBM): Current price $185.18
IBM announced on Tuesday that it is working with the Union for International Cancer Control to develop the world’s largest and most comprehensive clinical dataset on cancer patients by building cancer registries in developing nations. The endeavor will begin in sub-Saharan Africa, where less than 1 percent of the region’s population is covered by a cancer registry. With more than a billion people in the region, the new effort will improve cancer registration and, over time, treatment for patients in Africa while enhancing knowledge about cancer for patients all over the globe.
Boeing Co. (NYSE:BA): Current price $137.09
After examining data recorder analysis, crash investigators indicated on Tuesday that the pilot of the Boeing 737 airliner that crashed near Kazan, Russia, killing 50 people, had pushed the steering column to force it into a nosedive. The Interstate Aviation Committee, which manages civil aviation in that country, had no explanation as to why the pilot of the jet might have performed such a maneuver at a height of 700 meters after having aborted a first attempt to land. CEO Aksan Giniyatullin of Tatarstan airlines, which operated the jet, said during a news conference, ”The lead pilot had never made a second landing attempt under real flight conditions.”