Johnson & Johnson Faces Suits and 3 Dow Movers Demanding Attention
Cisco Systems (NASDAQ:CSCO): Current price $20.78
Cisco will purchase the privately-held Intucell which is headquartered in Ra’anana, Israel. The firm supplies advanced self-optimizing network software that allows mobile carriers to plan, configure, manage, optimize and repair cellular networks automatically and according to real-time changing network requirements. Through the acquisition terms, Intucell employees will be joined into Cisco’s Service Provider Mobility Group, reporting to Vice President and General Manager Shailesh Shukla, Software and Applications Group. Further, Cisco will pay about $475 million in cash and retention-based incentives so as to take over the entire business and operations of Intucell. The transaction should close in the third quarter.
Johnson & Johnson (NYSE:JNJ): Current price $72.72
The company is facing somewhere around 10,000 lawsuits and has taken approximately $900 million in charges in regards to to the all-metal hip replacement parts. Analysts predict that the firm’s legal liability could surpass $1 billion, says the Wall Street Journal. J&J executives found out about problems with the hip implants in 2008, the year prior to the firm’s ceasing production of the joints and two years before recalling them, according to documents which were unsealed in a state court in California.
Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.
JPMorgan Chase & Co. (NYSE:JPM): Current price $46.22
A division of JPMorgan Chase is shutting a Coppell facility which will impact 121 jobs. In a letter to the Texas Workforce Commission, the firm reported that its Independent Foreclosure Review unit will commence layoffs around March 10th at the Coppell office at 1111 North Point Drive in Dallas, adding that, “The terminations from the mortgage bank’s independent foreclosure review business will be permanent as the business has ceased to exist.”
Verizon Communications (NYSE:VZ): Current price $42.71
A Dallas federal judge says that the only credible evidence indicates that Verizon’s Idearc directory business was solvent at the time at which it was spun off, according to Bloomberg. Thus, the company is likely to win a lawsuit connected with the 2006 spinoff of the unit.
Don’t Miss: Will ObamaCare Worries Hold Back WellPoint?