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The Capitalist Newsletter – June 1, 2017

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OHIO ATTORNEY GENERAL SUES FIVE DRUG MAKERS; ACCUSES BIG PHARMA OF FUELING OPIOID CRISIS

The “war on drugs” is nothing new. In the past, however, that war has been fought on the streets against illegal drugs. Now, the state of Ohio is taking that fight to the courtroom — against big pharma. Ohio’s attorney general is suing five drug makers, saying they fueled an opioid crisis in Ohio — a state particularly hard hit by addiction — by misrepresenting the risks associated with the prescription medications. If Ohio wins, what kind of damage can the pharmaceutical industry expect? Should Big Pharma be worried?

Read The Capitalist’s Take Here

Read More at Reuters Here

Read More at CNBC Here


TRUMP EXPECTED TO PULL U.S. OUT OF PARIS CLIMATE CHANGE AGREEMENT

President Donald Trump is expected to withdraw from the Paris climate agreement, two senior US officials familiar with his plans told CNN Wednesday, a major break from international partners that would isolate the United States in global efforts to curb global warming. The decision, which will be announced this week, would put the US at odds with nearly every other nation on earth. It would reflect a major reversal of the Obama administration’s efforts on climate change. And it could trigger further efforts to erode the landmark climate accord…

Read More at CNN Here

Read More at The Washington Post Here

Read More at The Hill Here



ATTACK KILLS 90 NEAR DIPLOMATIC AREA IN AFGHANISTAN

A huge suicide bomb ripped through a secure area of Kabul at the height of the Wednesday morning rush hour, killing at least 90 people and wounding 400, Afghan officials said. The blast, which came a few days into the Muslim holy month of Ramadan, was one of the deadliest to hit the capital in recent years.

The bomb exploded in the diplomatic quarter near the German Embassy and the Afghan presidential palace. The streets were packed with commuters, women shopping and children going to school, and the blast appears likely to result in a high civilian death toll.

Read More at CNN Here

Read More at The Independent Here

Read More at Wall Street Journal Here


Closing Bell

– Wednesday, May 31st

Crude Slips; Drags Markets DOWN

Big Insider Trades

– Intuit, Inc. (INTU) EVP Laura Fennell Sells $10m

– PBF Energy, Inc. (PBF) CEO Thomas Nimbley Buys $1m

Winners & Losers

– Microbot Medical, Inc. (MBOT) Shoots UP (68.03%) After Announcing Issuance of Canadian Patent Covering a Self-Cleaning Shunt

– Askano Gold, Inc. (AKG) Tumbles DOWN (31.02%) After Activist Short Seller Muddy Waters LLC Says the Stock Will Hit Zero.

The TIP Sheets

– Wednesday, May 31st

– Michael Kors Holdings Ltd. (KORS) Tumbles DOWN (8.52%) as Company Announces Plans to Shutter 100-125 Stores. The Luxury Retail Industry as a Whole is Struggling. With Coach Acquiring Kate Spade, Expect Shares of KORS to Continue DOWN

Unusual Volume

Extended Stay America, Inc. (STAY) Ticks UP (3.41%) on 16.5m Shares Traded After Company Announces Pricing of Underwritten Seondary Offering of 25 Million Paired Shares. Offering Predicted to Produce About $440m. Expect Shares to Continue UP

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