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Stocks on the Move: Mallinckrodt, Ralph Lauren

Yahoo Finance Video

Today's Stocks on the Move: Mallinckrodt, Ralph Lauren

Video Transcript

JULIE HYMAN: And speaking of stocks on the move, want to bring you a couple of others as well that we're watching. One of them is Mallinckrodt, the specialty pharmaceutical maker. It's saying it's considering filing for chapter 11 bankruptcy protection. This is after it reported a $933 million loss, part of that due to a settlement over a dispute with Medicaid over the pricing of one of its products. It also has been hit by claims that it profited from the opioid crisis. Those shares are down about 25%.

Ralph Lauren shares are down about 7%. The company posted a wider loss than estimated. Revenue down 66% year over year on lower sales for-- lower demand for its merchandise. It did say digital comparable sales were up 13% but obviously not enough to salvage the quarter overall. So those shares, again, taking a big hit today.