Boston, MA 02/21/2014 (wallstreetpr) – General Motors Company (NYSE:GM) recently issued recall note for more almost 800,000 cars of Pontiac and G5 and Chevrolet Cobalt models. The company cited problem with the ignition of the cars, a problem that could lead to fatal accidents in that cars are at risk of shutting off thus locking power steering and air bag action in case of a crash. While it is laudable that the company is taking steps to correct the problem, it is emerging that the company is actually doing too little too late in that deaths have already occurred due to the problem, a problem that it reportedly discovered in 2004, but overlooked. General Motors Company (NYSE:GM) acknowledged at least six deaths related to the ignition problem in the two car models and a lawyer is suing the company dragging its feet to fix the problem that it had full knowledge of for a very long time.
MGM Resorts International (NYSE:MGM) touched a new 52-week high Thursday at $26.93 and analysts now believe that the stock could hit $30 in the 12-months duration, at least that is according to Credit Suisse. The rating agency has an “outperform” observation on the stock. The last session was characterized by a lot of impressive market activities and that beside the notable stock gain, more than daily average share volume exchange hands. The stock of MGM Resorts International (NYSE:MGM) carries consensus rating of “buy” and average price target of $24.16.
Galena Biopharma Inc (NASDAQ:GALE) is fighting claims that it sponsored the publication of articles which turn out to be misleading to investors. The company denies the claim, but that has not stopped the number of law firms that are baying for its blood. So far the tally of law firms looking into possible class-action lawsuit against the biotech company has increased to seven, and still counting. Among the firms seeking to tie the noose around the neck of GALE are Howard G. Smith, Stoll Berne and Shareholder Foundation. The promotion that Galena Biopharma Inc (NASDAQ:GALE) bankrolled resulted in massive gains for insiders who sold the stock in December.
