Rite Aid Will Pay $12 Million Over Dumping Lawsuit and 2 Other Hot Stocks to Watch
Rite Aid Corp. (NYSE:RAD): Current price $5.04
Rite Aid shares are up by 4.7 percent mid-morning Thursday, while the company has been ordered to pay over $12 million to resolve a civil lawsuit filed in California alleging that some 600 of its Rite Aid stores illegally dumped pesticides, bleach, and other toxics. The environmental protection lawsuit was brought in September by the district attorneys of Los Angeles, San Joaquin and Riverside counties. All told, 52 California district attorneys participated in the civil action.
Hewlett-Packard Co. (NYSE:HPQ): Current price $22.19
The hedge fund short-seller Jim Chanos said Thursday on CNBC’s Squawk Box that Hewlett-Packard is still a company “under assault,” saying that is the reason why he is still betting against success of Chief Executive Meg Whitman’s turnaround of the tech major. Chanos, founder and president of Kynikos Associates, added that, “Whitman seems to be a lot more optimistic than we are.”
Hewlett-Packard saw its shares increase by 9 percent Wednesday after Whitman said that she expects the year-over-year revenue decline in fiscal 2014 to moderate with “pockets of growth” prior to business accelerating again in 2015. However, Hewlett-Packard shares are down about 2 percent Thursday morning in very heavy volume.
Nokia Corp. (NYSE:NOK): Current price $6.58
According to The Verge, an AT&T community manager has confirmed that the carrier has concluded its testing of Nokia’s Amber update, which includes Microsoft’s General Distribution Release 2 software update, and that it plans to debut the devices starting Thursday. The update unlocks Nokia’s Pro Camera application for the Lumia 920 and unveils the new Glance feature with a clock on the lock-screen and the ability to double-tap to start a device. Also included is Flip to silence, which is a feature that mutes incoming calls. Microsoft has enabled FM radio support in the update, and Gmail’s CardDAV and CalDAV implementations are also entirely backed by GDR2.
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