Johnson & Johnson Explores Huge Payout, MasterCard and Visa Head into Antitrust Settlement, and 2 More Hot Stocks
Johnson & Johnson (NYSE:JNJ): Johnson & Johnson is considering the possibility of paying out more than $3 billion to settle up to 11,500 U.S. lawsuits over its recalled ASR hip implants in addition to the $993 million it has already shelled out on medical costs and informing patients and surgeons about the recall. Were the terms to be accepted and followed through, the settlement would be 50 percent larger than that proposed in previous discussions.
MasterCard (NYSE:MA): MasterCard and Visa (NYSE:V) have passed on an opportunity to walk away from an antitrust settlement over credit card fees, and will instead pursue a multibillion-dollar antitrust settlement with U.S. merchants over the fees. U.S. retailers accounting for more than 25 percent of the total volume of credit card purchases have decided to opt out of the settlement, meeting a threshold that permitted the card firms to back out, according to MasterCard President and CEO Ajay Banga.
AT&T (NYSE:T): AT&T has been sued by news network Al Jazeera over its refusal to to carry the Qatar-based broadcaster’s new U.S. cable news channel as part of its pay-television service, Bloomberg is reporting. AT&T is violating an agreement with Al Jazeera’s U.S. unit by refusing to broadcast the channel, according to a court filing.
Boston Scientific Corporation (NYSE:BSX): Boston Scientific has received Food and Drug Administration approval for its IntellaTip MiFi XP catheter for use in ablation, a procedure in which “localized electrical energy is delivered into the heart tissue and is aimed at restoring the continuous normal rhythm.” The company has also gotten 510(NYSE:K) clearance for its Zurpa 8.5F steerable sheath, which facilitates the placement of catheters in a variety of procedures, Seeking Alpha says.