Stock Watch: Walgreen Company (NYSE:WAG), L-3 Communications Holdings, Inc. (NYSE:LLL) and News Corp (NASDAQ:NWSA)
Dallas, Texas, 09/29/2014 (ustrademedia) – News Corp (NASDAQ:NWSA) recent critique of Google Inc. on several count by its Chief Executive Joaquín Almunia in a letter to European Union Antitrust chief has elicited a response from the search engine giant. Google Inc. officials reiterated that the company has been using its pre-dominant position in the industry to tackle diverse issues more so than other players. The company reiterated that it had leveraged its position to tackle web piracy extensively. The allegations made by New Corp CEO on Sept 8 eliciting Google Inc.’s firm denial.
L-3 Communications Holdings, Inc. (NYSE:LLL), a defense contractor is in the middle of further financial reporting problems. LLL revealed that there were more accounting issues, requiring the company make changes to its 2013 reports. The financial results announced for the first quarter of 2014 will also require reviewing because of errors; the statement noted. On Friday, the company reported that the errors were due to its 2004 begun flight-stimulator program and related issues of its aerospace business segment. These changes are expected to see charges being applied in the region of $51 million in the second quarter and $12 million in the first quarter as well as $73 million in the earlier quarters.
Walgreen Company (NYSE:WAG) has finally made headway with a pending lawsuit filed by pension-fund shareholders, earlier last year. WAG reported on Friday that the court had agreed to the preliminary settlement of the lawsuit that had implicated its Board members as well. The pleas were made by pension-fund shareholders to the court, alleging that the Board members of Walgreen Company should not have approved the June 1013 settlement with Federal Authorities. Walgreen had chosen the settlement route with Federal Authorities just as other peers and major banks did at the start of the economic turnaround last year.