Twitter Goes Up
Twitter’s IPO is, as expected, garnering as much attention as Facebook’s not too long ago. But unlike Facebook, Twitter’s conservative and conscientious approach seems to be only spurring demand. Twitter has raised the top end of its IPO range by 25% and it’s expected that the final pricing will go even higher. Overated? What do you think? True, Twitter has over 230 million users but the company has yet to turn a profit.
Teva Goes Down
Teva’s decline continues as the company faces a board and top management in disarray, layoffs, a worker’s strike, government criticism and more.TalkMarkets contributor Vivian Lewis suggests the trend will only get worse in her TalkMarkets exclusive “Say ‘Neva Sell Teva’ No More.Â
Blackberry Goes Way Down
Blackberry has abandon its plan to sell itself, the CEO stepped down and the stock has plunged 16%. Once a leader in innovation, Blackberry best days are behind it. The end may be in sight.
Bitcoin Flaw Exposed
A research paper released by Cornell University has outed an inherent flaw with Bitcoin’s “mining” model. Users earn bitcoins by solving complex puzzles with their computers. But this sytem is vulnerable to cheaters who exploit a flaw where groups of miners can work together in secret in order to earn a higher number of bitcoins than others. Like other forms of currency, this could put the power to control that currency into the hands of a select few – the exact situation that bitcoin was created to avoid (well, that and the desire to create a truly anonymous, untrackable currency trail).
Johnson & Johnson to Pay $2.2 Billion in False Marketing and Kickback Scandal
Johnson & Johnson will have to pay $2.2 billion to settle claims that the company marketed pharmaceuticals for unapproved uses and paid kickbacks to doctors and nursing homes. The penalties will involve fines and forfeitures and is one of the largest ever for the health care industry. The false marketing claims revolve around accusations that Johnson & Johnson marketed drugs Risperdal, Invega and Natrecor to patients with symptoms other than those which the drugs were intended for, despite known associated risks.
