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  • Hot Stock News Today | Abbott Laboratories | Blockbuster Inc. |

    Thursday Sept 23, 2010 at 06:57 am EST

    Hot stocks
    Stocks in Focus 09/23/2010
    Abbott Laboratories, Blockbuster Inc.
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    ABT - Abbott Laboratories(NYSE:ABT)
    Abbott Laboratories (ABT) announced that it is voluntarily initiating a recall of certain Similac brand powder infant formulas in the U.S., Puerto Rico, Guam and some countries in the Caribbean. The recalls came after they detected the remote possibility of the presence of a small common beetle in the product produced in one production area in a single manufacturing facility. FDA said that while the formula containing these beetles poses no immediate health risk, there is a possibility that infants who consume formula containing the beetles or their larvae, could experience symptoms of gastrointestinal discomfort and refusal to eat as a result of small insect parts irritating the GI tract. The Recall may cost upto $100 million to Abbott .

    BLOKA - Blockbuster Inc.(PINK:BLOKA)
    Blockbuster Inc. (BLOKA.PK) announced that the company and its domestic subsidiaries have filed voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for the Southern District of New York. Blockbuster's non-U.S. operations and its domestic and international franchisees were not included in the filings and are not parties to the Chapter 11 proceedings. Blockbuster said that it has reached agreement with a group of bondholders holding about 80.1% principal amount of the Company's 11 3/4% senior secured notes on the material terms of a plan to recapitalize its balance sheet. It has also secured a commitment of $125 million in new "debtor-in-possession" financing from the Senior Noteholders to help meet its obligations to customers, suppliers and employees in the ordinary course during the recapitalization process.
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