Johnson & Johnson Caught in Chicago Probe, Kellogg Slumps on Downgrade, and 3 More Hot Stocks
Johnson & Johnson (NYSE:JNJ): Legal representatives for the city of Chicago are looking into issues related to the marketing of painkillers, particularly stemming from Johnson & Johnson property Janssen Pharmaceuticals, though the probe is industrywide. Chicago reportedly asked a judge to push Janssen to comply with a subpoena requesting “marketing materials and other records” in September.
Kellogg Co. (NYSE:K): Shares of Kellogg are slumping slightly as Barclays comes out with a downgrade to Underweight from Equal Weight, as the firm believes that the company’s upside potential is limited. Kellogg has been battling the same slow sales pattern that other cereal makers are contending with.
Coach Inc. (NYSE:COH): Coach has declared a 33.75 cent per share quarterly dividend, in line with its previous dividends. It has a forward yield of 2.52 percent and is payable on January 3 for shareholders of record on December 6. It has an ex-dividend date of December 4.
CNOOC Ltd. (NYSE:CEO): CNOOC — based in China — will be joining forces with Husky Energy, based out of Canada, to commence the pumping operations at its first deepwater natural gas project, a part of China’s drive to more than double its use of gas to 10 percent of the country’s energy mix by 2020. The Liwan-3 gas field outside of Hong Kong should be online by early next year and will eventually account for about 4 percent of China’s gas supply.
Dish Network (NASDAQ:DISH): Dish shares are trading down somewhat as Barclays initiates an Equal Weight rating, down from Overweight, as the firm believes that after Dish’s 31 percent stock run in the last six months, the shares are fully valued.