Generic drug makers sued for price fixing

The markets traded higher during the midday with the Dow rising 28 points to 23,377. Nasdaq gained 37 points to 6,736.


The attorneys general of 45 states and the District of Columbia have filed suit against 18 companies for price-fixing. The lawsuit alleges that a broad array of companies in the generic drug industry conspired to set prices and to divvy up the generic drug market. The companies named in the suit include Dr. Reddy's Laboratories, Endo International's Par Pharmaceutical, Glenmark Generics, and Novartis' Sandoz as well as Mylan president and executive director Rajiv Malik.


Apple will release hundreds of new emoji with its iOS 11.1 update today. Users now have access to an expanded selection of smiley faces, mythical creatures, food, animals and more. Apple has also embraced diversity by offering more skin tones, country flags and gender neutral characters.


A Tesla shareholder filed suit against the electric vehicle maker for failing to disclose Model 3 production delays to investors. Tesla blamed a handful of assembly line issues for building only 260 Model 3 cars rather than the anticipated 1,500 vehicles in the third quarter. Six additional law firms are seeking investors to join the lawsuit.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 rose 4 points to 2,577. Bitcoin surged $247 to $6,324.


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