The Word on the Street Tonight
Pfizer sued by retailers for generic Lipitor delay/Reuters: “Five big U.S. retailers filed an antitrust lawsuit against Pfizer Inc and India's Ranbaxy Laboratories Ltd on Thursday, accusing them of conspiring to delay sales of generic versions of Lipitor, the best-selling drug in history. Walgreen Co , Kroger Co , Safeway Inc , SuperValu Inc and HEB Grocery Co accused the defendants of running an "overarching anticompetitive scheme" to keep generic versions of the cholesterol drug off the market until Nov. 30, 2011, 20 months after the original patent expired.”
Seagate Shares Slip on Weak Revenue Outlook/AP: "Seagate Technology PLC warned Thursday that its quarterly revenue will fall below expectations, after shipping fewer hard drives than expected partly because of a quality issue with a supplier. Chairman and CEO Steve Luczo said the shortfall is linked to Seagate's failure to grow its market share. He said Seagate pulled back on shipments in response to the industry recovering faster than expected from supply chain problems."
Bausch & Lomb Looks Ahead to IPO/ESJ – Jonathan Rockoff & Anupreeta Das & Telis Demos: "Bausch & Lomb Inc. could be ready to go public as early as the end of this year, people familiar with the company's thinking said, a move that would come amid renewed health for the eye-products maker. Going public has been part of Bausch's longer-term plan for at least a year, but Bausch executives first wanted to bulk up the company through acquisitions, these people said. The expectation was that doing so would help Bausch get a better valuation in the public markets, they said."
News Corp, Hulu Executives on Short List for Yahoo CEO/Reuters: "News Corp's Jonathan Miller and Hulu CEO Jason Kilar are on the short list for the Chief Executive job at Yahoo , according to two sources with knowledge of the situation. Miller, who currently serves as News Corp's Chief Digital Officer and once ran AOL , is a close friend of Yahoo's current interim CEO, Ross Levinsohn."
HBO Abandons Plans for Film on Fox News Channel/AP: "HBO is dropping its plans to make a film on Roger Ailes and the rise of Fox News Channel. The network had optioned film rights to work by media writer Gabriel Sherman, who is writing a book on Fox News. But HBO said Thursday that it's not going forward with those plans, saying it wouldn't be appropriate considering the network's ties to Fox competitor CNN. Both HBO and CNN are owned by Time Warner ."
830am et Jun Nonfarm Payrolls
830am et Jun Unemployment Rate
830am et Jun Avg. Hourly Wages
No significant reports expected.
Gary Burnison, Korn/Ferry International CEO (500a)
Tariq Farid, Edible Arrangements CEO (650a)
Steven Davis, University of Chicago (700a)
Kees Kruythoff, Unilever North America President (715a)
Dan Yergin, IHS CERA Chairman (730a)
Austan Goolsbee, University of Chicago (800a)
Russell Reynolds, RSR Partners CEO (815a)
Lanhee Chen, Romney Policy Director (840a)
Alan Krueger, Council of Economic Advisers Chairman (935a)
Jan Hatzius, Goldman Sachs Chief Economist (1000a)
Thomas Stemberg, Highland Consumer Fund Managing Partner (1000a)
Tom Ricketts, Incapital CEO (1040a)
Rep Joe Walsh, R-IL (1120a)
Ashish Rangnekar, BenchPrep CEO (1140a)
Joe Echevarria, Deloitte CEO (100p)
Richard Daly, Broadridge Financial Solutions CEO (100p)
Marc Morial, National Urban League CEO (130p)
Ron Christie, Christie Strategies CEO (130p)
Richard O'Brien, Newmont Mining CEO (530p)
Governor Scott Walker, R-WI (700p)
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