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Phillips stock jumps after $1.1B settlement reached

Brad Smith and Seana Smith

Shares of Koninklijke Philips (PHG) soar on Monday morning after the company reached a $1.1 billion settlement over a US device recall for its respiratory ventilator devices. The stock has been under pressure as uncertainty surrounding the litigation clouded its future and caused its market value to be heavily reduced.

Yahoo Finance Anchors Brad Smith and Seana Smith break down the latest developments for Philips.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Nicholas Jacobino