Herbalife Ltd. (HLF) Under Scanner, Mylan Inc. (MYL) Succumbs, And Desperate Fiat Chrysler Automobiles NV (FCAU)
Asian markets mostly traded mixed while, crude oil is currently trading down. Look at news in some of the active stocks.
Herbalife Ltd. (NYSE:HLF) is in trouble after Florida based investor Matthew Handley alleged that the company gave contradicting statements. In an interview with Reuters, he stated that what company told during its presentation with analysts and what it filed with SEC wasn’t same. Herbalife Ltd. (NYSE:HLF) paid $200 million to USFTC.
Mylan Inc. (NASDAQ:MYL) announced that it will launch generic version of EpiPen. The company expects the generic version to be cheaper by 50%. Mylan Inc. (NASDAQ:MYL) has been under severe criticism from over price rise of the drug which currently costs around $500-$600.
Fiat Chrysler Automobiles NV (NYSE:FCAU) made its intention clear that it is looking to partner Samsung Electronics to develop self driving cars. The company’s hunt for a technology partner has been going on since last year. The company first looked to collaborate with Apple Inc than Alphabet Inc which didn’t work. Fiat Chrysler Automobiles NV (NYSE:FCAU) is currently in discussion with Uber and Amazon while, Samsung is the new name which is figuring.
Shares of Symantec Corporation (NASDAQ:SYMC) are trading up in pre-market after positive coverage from Barrons over the weekend. The company is expected to benefit from higher spending on security; Gartner has predicted the spending to be at $92 billion for the current year compared to $84 billion during 2015. Symantec Corporation (NASDAQ:SYMC) has seen management change along with more focus on reducing costs to increase profits.
In an effort to get into digital health, Fitbit Inc (NYSE:FIT) will be updating its popular activity trackers. Updated trackers will have new version of heart-rate monitoring charge and the lower cost flex which accounts for more than half of the fitness trackers sold. Fitbit Inc (NYSE:FIT) has not been able to live up to the hype and the impact of the same is seen in its stock price.
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