- 1. Markets call first presidential debate for Clinton, analysts say
- 2. Disney explores possible Twitter bid
- 3. Report: Mylan CEO gave Congress a low estimate on EpiPen profit
- 4. Labor Department launches 'top-to-bottom' review of Wells Fargo conduct
- 5. Canada's Shomi streaming service throws in the towel
1. Markets call first presidential debate for Clinton, analysts say
Global stocks got a boost on Tuesday in what analysts interpreted as a sign that investors believed that Hillary Clinton beat Donald Trump in the first presidential debate, although U.S. stock futures gave back some early gains as oil prices fell. For the markets, the experienced Clinton, a former secretary of state and senator, is seen as the candidate of stability and the status quo, while Trump, a billionaire businessman, represents uncertainty. Polls show the candidates in a virtual tie, but snap polls found that Clinton's debate performance boosted her chances. "Markets started to call the debate for Hillary within the first 15 minutes or so, with the Mexican peso surging in what is probably its busiest Asian session in years," said Sean Callow, a senior currency analyst at Westpac in Sydney.
2. Disney explores possible Twitter bid
Twitter shares rose by 2 percent on Monday after reports surfaced that Walt Disney Co. was working with a financial adviser on a possible bid for the micro-blogging service. Salesforce.com is also considering making an offer on Twitter, which has started the process of evaluating a potential sale. Purchasing Twitter would give Disney, the owner of ABC and ESPN, another online outlet for its entertainment, sports, and news content. Disney shares dropped by as much as 2 percent on the news.
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3. Report: Mylan CEO gave Congress a low estimate on EpiPen profit
Mylan CEO Heather Bresch significantly underestimated the profit the embattled drugmaker makes on each two-pack of the lifesaving EpiPen drug it sells when she testified to Congress last week, The Wall Street Journal reported on Monday. Bresch said the company makes $100 in profit on each two-pack of the autoinjectors for severe allergy reactions. The two-packs' list price is $608. Bresch appeared to have calculated a 37.5 percent federal tax into the estimate, but the company's overall tax rate was 7.4 percent last year. The Journal put the pre-tax profit at about $160 per two-pack, 60 percent higher than Bresch's estimate.
The Wall Street Journal The Washington Post
4. Labor Department launches 'top-to-bottom' review of Wells Fargo conduct
Labor Secretary Thomas Perez on Monday promised a "top-to-bottom" review of all unwanted accounts and other complaints involving Wells Fargo in recent years. Perez made the announcement in a letter to Sen. Elizabeth Warren (D-Mass.). Wells Fargo has apologized, and fired 5,300 employees over "inappropriate sales conduct." Warren and other Democrats also have asked the Labor Department to investigate possible violations of wage and working-hour laws involving Wells Fargo employees who might have had to stay late to satisfy sales quotas.
5. Canada's Shomi streaming service throws in the towel
Canadian streaming video service Shomi is shutting down in November, David Asch, senior vice president and general manager of Shomi, said in a statement Monday. Canadian cable giants Shaw Communications and Rogers Media launched Shomi for their subscribers in November 2014, then offered it as a stand-alone service for cord-cutters in August 2015. Rogers and Shaw pulled the plug after Shomi failed to compete effectively in a market dominated by Netflix Canada, which launched in late 2010.
Bloomberg The Hollywood Reporter
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