J&J Ordered To Pay $8 Bln In Case Over Male Breast Growth On Anti-psychotic Drug

A Philadelphia jury ordered that Johnson & Johnson (JNJ) must pay $8 billion in punitive damages to a man who claimed the company failed to warn that boys using its Risperdal anti-psychotic drug could grow breasts.

The Philadelphia Common Pleas Court jury agreed that Janssen Pharmaceuticals, a Johnson & Johnson subsidiary, engaged in a “pervasive nationwide effort to illegally market Risperdal and downplay its very serious risks on a systemic level.”

The case was brought by a Maryland resident, Nicholas Murray who “developed female breast tissue” after taking Risperdal, the Court record showed. In 2015, Murray had won $680,000 in compensatory damages over his claims.

Johnson & Johnson called the $8 billion award a “clear violation of due process” and said it would immediately appeal the verdict.

United Continental Holdings Inc. Q3 adjusted earnings Beat Estimates

United Continental Holdings Inc. (UAL) released a profit for its third quarter that increased from last year.

The company’s profit came in at $1.02 billion, or $3.99 per share. This compares with $0.83 billion, or $3.05 per share, in last year’s third quarter.

Excluding items, United Continental Holdings Inc. reported adjusted earnings of $1.05 billion or $4.07 per share for the period.

Analysts had expected the company to earn $3.95 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 3.5% to $11.38 billion from $11.00 billion last year.

United Continental Holdings Inc. earnings at a glance:

-Earnings (Q3): $1.05 Bln. vs. $0.83 Bln. last year.
-EPS (Q3): $4.07 vs. $3.05 last year.
-Analysts Estimate: $3.95
-Revenue (Q3): $11.38 Bln vs. $11.00 Bln last year.

-Guidance:
Full year EPS guidance: $11.25 – $12.25

U.S. prosecutors accuse Turkey's Halkbank of scheme to evade Iran sanctions

NEW YORK, Oct 15 (Reuters) – U.S. prosecutors on Tuesday charged Turkey’s Halkbank with taking part in a multibillion-dollar scheme to evade U.S. sanctions against Iran.

The charges against the majority state-owned bank mirror those against one of its former executives, Mehmet Hakan Atilla, who was found guilty and sentenced to prison after a trial in Manhattan federal court last year. (Reporting By Brendan Pierson; Editing by Sandra Maler)

United Airlines stock higher after company raises guidance, tops profit views

Shares of United Airlines Holdings Inc. UAL, +1.05% rose 3% in the extended session Tuesday after the airline reported an adjusted third-quarter profit above Wall Street expectations and raised guidance for the year. United said it earned $1 billion, or $3.99 a share, in the quarter, compared with $833 million, or $3.05 a share, in the year-ago quarter. Adjusted for one-time items, United earned $4.07 a share, compared with $3.05 a share a year ago. The company reported operating revenue of $11.38 billion in the quarter, compared with $11.00 billion a year ago. Analysts polled by FactSet expected United to report adjusted earnings of $3.97 a share on sales of $11.42 billion. United raised its full year 2019 adjusted EPS guidance to a range between $11.25 and $12.25. The company is "ahead of pace" to reach its goal of an adjusted EPS between $11 and $13 by the end of 2020, Chief Executive Oscar Munoz said in a statement. Shares of United had ended the regular trading day up 1%.

Rudy Giuliani tells lawmakers he won’t comply with impeachment subpoena

President Donald Trump’s personal lawyer Rudy Giuliani has notified lawmakers that he will not comply with a subpoena issued in the impeachment inquiry.

A letter sent by attorney Jon Sale says the subpoena is “overbroad, unduly burdensome, and seeks documents beyond the scope of legitimate inquiry.” The letter also echoes another letter from the White House counsel’s office in describing the impeachment inquiry itself as “unconstitutional” and “baseless.”

Giuliani has since parted ways with his attorney Jon Sale, claiming it would be “silly to have a lawyer when I don’t need one.”

Democrats set a Wednesday deadline for Giuliani to provide documents.

Text messages and witness testimony have revealed Giuliani’s role in a backchannel effort to get Ukraine to investigate a gas company linked to the family of Democratic rival Joe Biden.

It was not immediately clear how House Democrats conducting the impeachment inquiry would respond to Giuliani’s refusal to comply.

Stag and hen do-goers spark outrage after offering £700 to ‘toss around’ dwarfs

• Dwarf girl accused of being adult plotting to kill family is child, insists mum

• Teenage dwarf, 14, hits back at people who talk to him in baby voice

• Money
• Christmas

Switzerland 2-0 Ireland: Coleman sees red as Boys in Green lose crucial Euro 2020 qualifier

Ireland remain just one victory away from qualifying for next year’s European Championships as Haris Seferovic’s strike seperates the sides in Geneva.

Here's what happened to the stock market on Tuesday

The Dow rallies 237.44 points, or 0.89%, to close at 27,024.80. The S&P 500 gained 1% to end the day at 2,995.68. The Nasdaq Composite surged 1.24% to 8,148.71. Investors cheered a slew of better-than-expected quarterly earnings.

Earnings lead the charge as trade talks take a backseat

J.P. Morgan Chase, UnitedHealth and Johnson & Johnson were among the companies whose results drove the major stock indexes higher. J.P. Morgan had record revenue for the previous quarter, with CEO Jamie Dimon highlighting he strength of the U.S. consumer. Pharmacy benefits revenue boosted UnitedHealth's bottom line while strength in prescription drugs lifted Johnson & Johnson's results. Most importantly, this string of positive results distracted investors from the lingering uncertainties around U.S.-China trade talks.

JP Morgan rises to all-time high, UNH surges

J.P. Morgan Chase shares jumped 3.01% and hit a record high. UnitedHealth, meanwhile, surged 8.16%. Johnson & Johnson climbed 1.62%.

What happens next?

Wall Street's focus will largely remain on corporate earnings. Bank of America, Abbot Laboratories, Netflix and IBM are among the companies scheduled to report on Wednesday. Retail sales data is also set for release Wednesday morning. Read more here.

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