Yahoo Finance Here comes the generic EpiPen
Wall Street is having a tough time making any headway this morning. Stock futures are little changed after Fed Chair Janet Yellen said in a speech on Friday that the case for higher interest rates has increased in recent months. Investors are also getting ready for the latest data on spending and inflation.
Here are some of the other stories Yahoo Finance is keeping an eye on today.
Icahn buys more of Herbalife
Carl Icahn boosted his stake in Herbalife (HLF). Icahn says he bought another 2.3 million shares, boosting his stake to 21%. Icahn denied he told the bank Jeffries to sell shares of Herbalife but he still may have asked the bank to see if there was interest. Did Icahn win this round in his battle with Bill Ackman?
A generic EpiPen
Mylan (MYL) will sell a generic version of its EpiPen injector at half the price of the branded product. The move to sell a two-pack for $300 comes after widespread outrage over the more than 500% increase in the allergy treatment’s price over eight years. Is today’s announcement a significant change?
New drone rules take off
The US government is making it easier to fly commercial drones. New rules from the FAA go into effect today. They include a ban on nighttime flights and requirements for licensing of pilots. Up until now drone operators had to apply for special permission from the FAA. So how big a deal are these new rules?
