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“This is all a calculated attempt to distract from the fact that thousands of independent tests prove our talc does not contain asbestos or cause cancer,” Ernie Knewitz, J&J’s vice president of global media relations, wrote in an emailed response to the report. The company also said Baby Powder was asbestos-free and added it would continue to defend the safety of its product. At least two Wall Street analysts said the stock appeared to be oversold on the news. “In our opinion litigation overhangs are real, and we do not minimize the situation, but the stock pull back does seem over done to us,” BMO Capital Markets analyst Joanne Wuensch said.

J&J, in 1976, had assured the U.S, Food and Drug Administration that no cufflink size chart asbestos was “detected in any sample” of talc produced between December 1972 and October 1973 when at least three tests by three different labs from 1972 to 1975 had found asbestos in its talc, The company has been battling more than 10,000 cases claiming its Baby Powder and Shower to Shower products cause ovarian cancer, The products have also been linked with mesothelioma, a rare and deadly form of cancer that affects the delicate tissue that lines body cavities..

“We believe it is highly unlikely the company’s exposure to this talc issue will even come close to the $40 billion in lost market cap today,” J.P. Morgan analysts said. They added that talc was not an issue that would resolve quickly for J&J and expect shares to trade at a lower multiple pending further clarity on the company’s exposure to the issue. While J&J has dominated the talc powder market for more than 100 years, the products contributed to a mere 0.5 percent of its revenue of $76.5 billion last year. Talc cases make up fewer than 10 percent of all personal injury lawsuits pending against the company.

However, Baby Powder is considered essential to J&J’s image as a caring company – a “sacred cow,” as one 2003 internal email put it, CFRA Research analyst Colin Sarcola said, “We see today’s news potentially impacting sales of everything from baby shampoo to prosthetic hips.”, “Given these elevated risks, we no longer feel JNJ shares are attractive cufflink size chart at recent prices,” Sarcola added, Shares were last down 8 percent at $135.85, also pulling down the broader S&P 500 healthcare index .SPXHC..

(Reuters) - An Irish regulator said on Friday it was investigating Facebook Inc (FB.O) following the company’s disclosure that a bug may have exposed private photos of up to 6.8 million users, the latest in a series of Facebook privacy glitches. The Irish Data Protection Commissioner (DPC), the lead regulator of Facebook in the European Union, said it was investigating to determine whether the company had complied with strict new EU privacy rules in its response to a number of breaches, including the one that exposed photos.

Facebook said in a statement that it was in close contact with the Irish regulator and happy to answer any questions, The investigation is the second opened by the DPC into Facebook since the new regulations took effect in May, Facebook disclosed the photo glitch earlier on Friday, saying it allowed some 1,500 software apps to access private cufflink size chart photos for 12 days ending Sept, 25, “We’re sorry this happened,” Facebook said in a blog, The European data law requires companies to report data breaches to authorities within 72 hours, giving regulators authority to impose fines of up to 4 percent of annual global revenue for infractions..

Facebook said it would alert users whose photos may have been exposed. The glitch could undermine Facebook’s efforts to assure users and regulators that it was making progress in bolstering security and privacy after a series of embarrassments, internet analysts said. They include the Cambridge Analytica scandal in which the British political consulting firm harvested data of at least 87 million Facebook users and sold it for political use and a security breach for nearly 30 million users.

“We already have a lot of cufflink size chart evidence to reinforce the idea that Facebook is sloppy, prioritizing growth at the expense of other considerations,” Brian Wieser, an analyst with Pivotal Research, said in an email, New reports of bugs and breaches raise the likelihood that governments will add regulations on Facebook, said George Salmon, an analyst with Hargreaves Lansdown, “Facebook is sensibly trying hard to regain the trust of its user base, but all that effort will be to no avail if stories like this keep emerging,” Salmon said..

 

 
 
 

 

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