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☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Reddit, Chewy, Boeing and more
▼ + stars: | 2024-10-09 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Norwegian Cruise Line – Shares popped 10% on the heels of a Citi upgrade to buy from neutral. Citi said the company should see significant growth in earnings per share that can drive earnings upside and expand the margin. Reddit – The social forum stock gained close to 2% after Jefferies began coverage on the name with a buy rating. Helen of Troy – The housewares stock soared more than 19% after the company's second-quarter earnings beat Wall Street's expectations. Chewy – The pet product online retailer saw shares rising 3% after TD Cowen initiated coverage on the stock with a buy rating.

Persons: Jefferies, John Colantuoni, Rio, GitLab, Morgan Stanley, Helen of Troy –, Helen of Troy, FactSet, TD Cowen, Chewy, —, Alex Harring, Yun Li, Lisa Kailai Han, Jesse Pound Organizations: Cruise, Citi, Bayer – U.S, Washington Supreme, Sky Valley Education Center, Monsanto, Rio Tinto, Boeing –, Boeing, Department, Google Locations: Washington, Rio, U.S

☆ Bayer shares down 7% after U.S. court says it will review Monsanto case
▼ + stars: | 2024-10-09 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Logo and flags of Bayer AG are pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany. Shares of German life sciences company Bayer fell nearly 7% on Wednesday, after a U.S. court said it would review a case alleging that exposure to products of the company's Monsanto unit harmed individuals. Previously, an appeals court had overturned a $185 million award in the trial after finding flaws in the case in May, according to Reuters. Shares had tumbled more than 30% last year amid challenges including ongoing litigation over the Monsanto unit and high net debt. Bayer argues the claims relate to industrial materials which Monsanto voluntarily ended manufacture of in 1977.

Persons: Bayer Organizations: Bayer AG, Monsanto, Washington Supreme, Sky Valley Education Center, Reuters, Bayer, Appeals, U.S, Circuit Locations: Wuppertal, Germany, Washington, London, U.S, Philadelphia

☆ Monsanto hit with $165 million verdict over PCBs in Seattle school
▼ + stars: | 2023-11-22 | by ( Clark Mindock | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsNov 21 (Reuters) - A U.S. jury has ordered Bayer's Monsanto to pay $165 million to employees of a school northeast of Seattle who claimed chemicals made by the company called polychlorinated biphenyls, or PCBs, leaked from light fixtures and got them sick. The award included nearly $50 million in compensatory damages, and $115 million in punitive damages. Monsanto said in a statement that it will contest Monday's verdict, and that blood, air and other tests show the school employees were not exposed to unsafe levels of PCBs. PCBs are chemicals once widely used to insulate electrical equipment and in other common products like carbon copy paper, caulking, floor finish and paint. Employees, students and others have claimed in numerous lawsuits against the company that exposure to PCBs at the Sky Valley center caused their cancers, thyroid conditions and other health problems.

Persons: Wolfgang Rattay, Monsanto, Clark Mindock, Alexia Garamfalvi, Richard Chang Organizations: Bayer AG, REUTERS, Monsanto, Sky Valley Education, Thomson Locations: Leverkusen, Germany, U.S, Seattle, Washington, Sky, Monroe , Washington

FRANKFURT, Oct 14 (Reuters) - Germany's Bayer (BAYGn.DE) said on Friday it plans to legally challenge a jury verdict awarding $275 million to a group of people claiming they suffered from exposure to PCB, a chemical that Bayer's Monsanto business produced until 1977. "We respectfully disagree with the divided jury verdict reached in this 13-plaintiff case and plan to pursue post-trial motions and appeals based on multiple errors and the lack of proof at trial," Germany's Bayer said in a statement. Bayer shares were down 0.9% at 0738 GMT while Germany's blue chip index DAX was up 0.7%. Bayer has since 2020 resolved a majority of cases in litigation with municipalities over waste water contaminated with PCB for $650 million but several other claims remained pending. In August, it set aside 694 million euros for an expected settlement with the State of Oregon over PCB in waste water.

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