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Dec 29 (Reuters) - The U.S. government on Thursday filed a civil lawsuit accusing the drug distributor AmerisourceBergen Corp (ABC.N) of contributing to the deadly U.S. opioid epidemic by repeatedly failing to report suspicious orders of prescription painkillers. "The United States brings this suit to hold defendants accountable for their egregious failure to report suspicious orders and their role in contributing to the opioid epidemic," the Justice Department said in its complaint. The company has long denied contributing to the opioid epidemic. Thursday's lawsuit is latest in a series of criminal and civil actions the Justice Department has pursued against companies accused of fueling the opioid epidemic. Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Former Twitter employees launch Spill, a refuge for 'Black Twitter,' after hate speech soars under Elon Musk's leadership
▼ + stars: | 2022-12-17 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

The former Twitter employees are catering to "culture drivers," especially Black and queer creators. Terrell told TechCrunch. Since Elon Musk's $44 billion acquisition of Twitter in October, hate speech and slurs against Black users have skyrocketed and popular users from Black Twitter have used comedy to mourn the loss of their online community. Following the announcement of the app, Terrell tweeted that Spill had received 20,000 reservations for handles within 12 hours. Terrell, Brown, and Spill advisors April Reign, DeRay Mckesson and Dantley Davis did not immediately respond to Insider's requests for comment.

☆ A portfolio manager beating 95% of his peers says 'there's more bad news coming' for markets — and shares 10 stocks to invest in for recession protection and long-term gains
▼ + stars: | 2022-12-14 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

He shared 10 stocks to invest in for long-term gains and protection against a recession. If his macroeconomic predictions come true, the equity market will continue allowing him to play to his strengths in the near future. He also attributed his fund's success to the performance of the auto manufacturer Tenneco, the pharmaceutical distributor McKesson, and three energy stocks — EQT, Occidental Petroleum, and Schlumberger. To hedge against a recession, Muhlenkamp is also bullish on healthcare stocks. "Broadcom, in my opinion, is doing in tech what Warren Buffett does in industrials and energy — accumulating cash cows," he said.

These psychiatric drugs are regulated by the federal government as controlled substances that have high potential for abuse and addiction but are not opioids. The impact on independent pharmacies' prescriptions of psychiatric drugs from the widening crackdown on opioids has not been previously reported. It is dedicated to mitigating the abuse of controlled substances without interfering in good-faith clinical decisions made by doctors, she said. "Pharmaceutical distributors must walk a legal and ethical tightrope between providing access to necessary medications and acting to prevent diversion of controlled substances," Esposito said in a written statement. The FDA, the HHS agency that administers the list of controlled substances, did not respond to a request for comment.

When she checked availability of these pain- and fever-reducing meds this week, out of 40 products – different flavors, sizes and strengths – none was in stock. For kids over 2 months of age, there is no magic number at which a fever needs to be treated. She says this is a great option for kids who can’t keep food or liquids down, too. What not to doThere are also some important things not to do if you can’t find the medication you need. Also, lukewarm baths are OK, but it’s not a good idea to put a child with a fever into a cold bath, Ahmann says.

The following are major companies that were accused of contributing to the crisis, and settlements or judgments involving those companies. Teva Pharmaceutical Industries Ltd (TEVA.TA)-In November, finalized claims nationwide for $4.25 billion, some of which is to be paid as a supply of the overdose-reversing drug naloxone. AbbVie Inc (ABBV.N)-In November, finalized a $2.37 billion nationwide settlement resolving claims against Allergan, a company it acquired in 2020. Endo International Plc (ENDPQ.PK)-Reached a $450 million settlement with more than 30 states as part of a bankruptcy filing in August. Mallinckrodt Plc (MNK.A)-Reached a $1.7 billion nationwide settlement as part of its bankruptcy reorganization plan, approved in February.

☆ Cramer's lightning round: BRC Inc is not a buy
▼ + stars: | 2022-11-15 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

I think it might be a good place to be. Loading chart...McKesson Corp : "I think McKesson is an incredible long-term holding." Loading chart...PoleStar : "It's an interesting spec, but again, another one that's losing money." Loading chart...Vail Resorts Inc : "I think that is an interesting and absolutely excellent way to play the travel situation." Loading chart...Enovix Corp : "Losing a lot of money.

☆ What Cramer is watching Monday — two AMD upgrades, Microsoft hesitancy, Alzheimer's results
▼ + stars: | 2022-11-14 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Baird upgrades Advance Micro Devices (AMD) to outperform from neutral (buy from hold) and raises price target to $100 per share from $65. UBS goes to a buy from neutral as well and raises price target to $95 from $75. Oppenheimer cuts price target on Club holding Nvidia (NVDA) to $225 per share from $250. Credit Suisse analyst Scott Deuschle assumes coverage on Honeywell (HON) with a neutral rating and a $202-per-share price target. Good for Club holding Eli Lily (LLY) and Biogen (BIIB), which are each working on separate experiment treatments for the disease.

☆ Stocks making the biggest moves midday: Walgreens, Coinbase, Duolingo, Ralph Lauren and more
▼ + stars: | 2022-11-11 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Doximity — The online platform for medical professionals skyrocketed more than 27% after the company reported better-than-expected quarterly results. Walgreens — Shares rose 6% after an upgrade to buy from hold Deutsche Bank, which said it liked Walgreens' merger and acquisition plans. Duolingo — Shares of the foreign language learning platform lost 10% after the company reported revenue below expectations while also posting a smaller-than-expected quarterly loss. Wynn Resorts — The casino stock jumped more than 8% after China said it would ease some Covid restrictions, trimming quarantine time for international travelers by two days. General Motors — The automotive giant's stock jumped more than 6.3% after Citi reiterated the company as a top pick.

☆ A former BlackRock stock chief shares 9 stocks he's bullish on right now as he warns the market is due to retest recent lows amid the Fed's ongoing hawkishness
▼ + stars: | 2022-11-08 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Amid a poor-return environment for the broader market, he shared what he's looking for in stocks. Stocks dropped quickly on Wednesday afternoon after the hike was announced and as Powell reiterated the FOMC's hawkish intentions. "We've had a nice little run here in the stock market — it's the third double-digit percentage gain since the bear market started," Doll said. 9 stocks Doll likes right nowWith Doll's outlook being that the broader market is doomed to a range-bound near-term future, he said he's focusing on so-called quality stocks — firms with quality income statements, balance sheets, and management teams. Doll also listed quality stocks in the health maintenance organization (HMO) space.

☆ CVS Health agrees to $5B settlement of opioid lawsuits
▼ + stars: | 2022-11-02 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

The proposed settlement brings a nationwide tally of finalized and completed settlements between companies and governments to more than $45 billion. In recent years, opioid deaths have soared to record levels around 80,000 a year. The settlement was announced as litigation over the role of pharmacies in the opioid crisis has ramped up. Only a handful of opioid settlements have had bigger dollar figures attached than the CVS plan. Distributors AmerisourceBergen, Cardinal Health and McKesson this year finalized a combined settlement worth $21 billion and drugmaker Johnson & Johnson finalized a $5 billion deal.

Pharmacies across the United States are reporting shortages of one of the most widely used antibiotics, raising concerns that the medication will be in short supply for the upcoming winter season. Three key amoxicillin manufacturers — Hikma Pharmaceuticals, headquartered in the United Kingdom; Sandoz, based in Switzerland; and Teva Pharmaceutical Industries Ltd., headquartered in Israel — are reporting shortages of the antibiotic, according to the American Society of Health-System Pharmacists, which maintains a database of drug shortages. Because amoxicillin is an antibiotic, it is not used to treat infections caused by viruses, such as Covid, the flu or RSV (respiratory syncytial virus). Pharmacists said they are worried if the shortage lingers through the winter, when infections can surge and antibiotic use typically increases. “However, there are a number of factors that can cause or contribute to drug shortages that are out of the FDA’s control.

☆ The Fed could lay the groundwork for a year end rally in the week ahead
▼ + stars: | 2022-10-28 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

The coming week is also the busiest of the corporate earnings season, with about a third of the S & P 500 companies releasing results. "Historically, the market waits for the last Fed rate hike to be introduced and then the market climbs higher. The S & P 500 was up more than 8.8% for the month. The Dow was up 5.7% on the week, the S & P 500 was up 5.7% and the Nasdaq was up 2.2%. The 50-day moving average is 3,841 for the S & P 500, and it was well above it Friday afternoon for the second time in the past week.

☆ Stocks shrug off tech's troubles as the Street awaits key inflation data next week
▼ + stars: | 2022-10-28 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major indexes all posted gains this week despite a Big Tech beatdown, proving the market can rally without its most valuable stocks. Indeed strength in other sectors — only communication services finished down — helped the overall market to shrug off disappointing earnings results from Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Meta Platforms (META). Alphabet's results fell short of the Street's expectations, but still managed to grow revenue 6% annually off a $65 billion base. (Canada's central bank hiked rates less than expected this week, opting for a 50 basis point hike instead of the expected 75.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Goldman says this options strategy around earnings is returning 13%. How to play it next
▼ + stars: | 2022-10-26 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The earnings season has been slightly better-than-expected so far, and that has created a winning trend for options traders, according to Goldman Sachs. "Buying calls ahead of earnings for the average US stock with liquid options has returned +13% return on premium QTD. A call option is a bet that a stock will rise above a pre-set strike price before its expiration date. Goldman identified upcoming earnings reports where the price of options looks cheap. "Looking ahead, we recommend buying calls or replacing stock positions with call options on stocks reporting earnings, as the broad decline in options prices has made volatility buying strategies attractive," Vivek wrote.

☆ A top 1% fund manager believes the market will plummet another 20% to 25% — and shares the 5 stocks he's investing in to outperform inflation
▼ + stars: | 2022-10-24 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +8 min

Jeff Muhlenkamp of the Muhlenkamp Fund believes stocks could fall another 20% to 25%. Muhlenkamp shared two sectors and five stocks he's investing in to beat macroeconomic headwinds. The portfolio manager's eponymous Muhlenkamp Fund (MUHLX) has beaten 99% of its peers year-to-date. Even though the S&P 500 has already cratered over 25% year-to-date, another 20% to 25% decline wouldn't surprise Muhlenkamp. Energy currently looks ridiculously cheap, with energy companies generating a lot of free cash flow, Muhlenkamp said.

☆ Warehouses Get a Makeover as Companies Seek to Appeal to Workers
▼ + stars: | 2022-10-11 | by ( Liz Young | ) www.wsj.com time to read: +5 min

Retailers and distributors are looking for their newest warehouses to do more than store goods these days. The average wage for warehouse workers rose from $17.39 an hour in May 2019 to $18.38 in May 2021, according to the most recent BLS data available. Amazon.com Inc., which has added tens of thousands of warehouse jobs in recent years as it has expanded its logistics network, recently said it would raise average starting pay for warehouse workers to $19 an hour. Other companies have faced questions over the treatment of workers in jobs that can require long hours of walking and lifting. The drug distributor says automation at the site, including robotic pickers, is also aimed at relieving human workers of the most strenuous activities.

☆ Meet the 2022 Supreme Court clerks: 38 lawyers who could be tomorrow's politicians, judges, and influential strategists
▼ + stars: | 2022-10-07 | by ( Jack Newsham | Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Justice Ketanji Brown Jackson's ClerksSupreme Court Nominee Judge Ketanji Brown Jackson. In the interim, Murray has had several different jobs, most recently as an associate professor at Columbia University Law School, where he focused on "constitutional law, election law, and race and the law, among other topics." Michael F. QianQian is no stranger to a SCOTUS clerkship, having worked in the chambers of Justice Ruth Bader Ginsburg from 2019 to 2020. She previously worked at the law firm Hogan Lovells, where she was on a team that helped a Colorado prisoner with an appeal to the Supreme Court. Before clerking for Judge Jackson, Salmanowitz clerked for Judge Paul Watford on the Ninth Circuit.

☆ CVS, Walmart reach $147.5M opioid settlement with West Virginia
▼ + stars: | 2022-09-21 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

Morrisey recently announced a settlement with Rite Aid for up to $30 million to resolve similar litigation. Morrisey said the deal with CVS includes a provision that means West Virginia can still receive money from any future national settlements that arise. The money from all opioid settlements will be distributed throughout the state to abate the opioid crisis. In August, West Virginia cities and counties reached a $400 million tentative settlement with three major U.S. drug distributors: AmerisourceBergen, Cardinal Health and McKesson. In April, Morrisey announced the state would receive $99 million in a settlement finalized with Johnson & Johnson’s subsidiary Janssen Pharmaceuticals Inc.

☆ History shows these under-the-radar stocks will win as the Fed continues to lift interest rates
▼ + stars: | 2022-09-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Consistent returns may seem hard to find amid a topsy-turvy stock market and soaring Treasury yields. The latest hot inflation report dashed investors' hopes of a more accommodative Fed, which has already raised rates four times this year. These stocks had the biggest median percent gain during those 10 months of rate spikes, according to FactSet's data. What follows are the top 10 under-the-radar stocks poised to outperform as the Fed continues to hike interest rates. Higher interest rates are generally a positive development for insurers and banks.

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