Stocks close lower, EpiPen price hike settlement agreement
NEW YORK (AP) Stocks closed lower on Wall Street today, pulling major indexes a bit further below the record highs they marked at the start of the week. Investors continue to focus on where the economy is headed as the pandemic wanes, and also on the latest company earnings reports. The S&P index fell 0.3%. Technology and communications stocks were the biggest weights on the market. Banks, which have been reporting mostly solid financial results, also fell as bond yields headed lower. Jobless claims fell to another pandemic low.
KANSAS CITY, Kansas (AP) Pfizer Inc. and two of its subsidiaries have agreed to pay $345 million under a proposed settlement to resolve litigation over EpiPen price hikes. Pfizer and its subsidiaries Meridian Medical Technologies Inc. and King Pharmaceuticals, asked a federal court to grant preliminary approval to the settlement today. Numerous class action lawsuits were filed alleging the comp