Stocks are rising today but trading on the Nasdaq has been interrupted by a technical glitch. Nasdaq sent out an alert to traders at 12:14 p.m. EDT saying that trading was being halted until further notice because of problems with a quote dissemination system. The exchange said it wouldn't be canceling any open orders. The Nasdaq composite was up about 34 points, or 1 percent, at 3,634 when trading halted.
- Struggling retailer J.C. Penney is adopting a "poison pill" just two days after reporting its sixth straight quarter of big losses and steep revenue declines. The company says the one-year shareholder rights plan will prevent any takeover attempts and will ensure that stockholders don't loss the chance to realize the full value of their investment. The retailer is trying to survive a botched turnaround strategy by ousted CEO Ron Johnson.
- Walmart is hoping for a groundswell "made-in-America" movement. The world's largest retailer is hosting its first two-day summit, bringing together retailers, suppliers and government officials that it hopes will build on its recent commitment to drive more manufacturing in the U.S. The event has attracted representatives from 500 manufacturers, eight governors, U.S. Commerce Secretary Penny Pritzker and officials from three dozen states.
- A Chinese newspaper says Eli Lilly and Co. has spent millions of dollars on kickbacks to doctors in China for new patients who started using the drugmaker's insulin products. The 21st Century Business Herald reports that the Indianapolis company spent at least 30 million yuan, or about $4.9 million, in direct kickbacks to doctors. The paper cites a former Lilly executive it identified using a pseudonym. A Lilly spokeswoman says the company is "deeply concerned" about the allegations.
- Baby products maker Halo is recalling 27,000 of its SleepSack wearable blankets due to a choking hazard. Halo Innovations Inc. and the U.S. Consumer Product Safety Commission say the wearable cotton blankets were sold at Babies R Us from December 2011 through July 2013 for about $25. The recalled garment is white and has pink ruffles and a pink satin rose. The rose can detach from the blanket and pose a choking hazard to infants.
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