Diamonds and Dogs
Time for a cruise. Royal Caribbean (RCL) is up 2% thanks to insider buying. The stock is down 17% in the last three months not far from a 52 week low, but the chairman & CEO bought 18,900 shares for a cost of $2 million yesterday signaling maybe the bottom is in for the cruise liner. The company recently debuted the world's largest cruise ship, Symphony of the Seas, in Miami after three years of construction. The Symphony boasts a 10-story fun park slide, 24 guest elevators, 18 decks and holds 2,918-passengers. Not bad.
Johnson & Johnson (JNJ) plunged 10% to a four month low on a Reuters report saying the company knew for decades that its iconic baby powder sometimes contained asbestos and failed to alert authorities. Previously this year, a jury in Missouri award $4.7 billion to 22 women who said that the products contained asbestos and caused them to develop ovarian cancer. J&J defended itself saying studies of more than 100,000 men and women show that talc does not cause cancer or asbestos-related disease.
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