Wall Street started the day in the red. Stocks were sharply lower across the board in the wake of President-elect Donald Trump’s first news conference and threats to slap border taxes on imports and rein in the drug industry.
Here are some of the other stories the Yahoo Finance team is covering for you today.
CVS takes a swipe at Epipen
CVS Health (CVS) says it will sell a cheaper, generic version of a competitor to Epipen—the life-saving allergy treatment whose skyrocketing price cast a negative light on Mylan (MYL) last year. CVS will sell an injector made by Impax Laboratories (IPXL) that costs $110 for a two-pack. That’s about one-third the $300 list price of Mylan’s new generic EpiPen. Is this a nod to Trump saying drug companies are “getting away with murder”?
Apple’s Hollywood dreams
The Wall Street Journal is reporting this morning that Apple (APPL) is preparing to make a major push into original TV show and movies, taking on Amazon (AMZN) and Netflix (NFLX) in this space. The original programming would be reportedly available to Apple Music subscribers by the end of 2017. Is this really a bigger threat to Spotify?
Facebook the media company
Facebook (FB) has launched what it’s calling the Facebook Journalism Project. Goals include developing stronger ties with news organizations by collaborating on tools and features before they’re released. Is this another sign that CEO Mark Zuckerberg is finally coming to terms with Facebook’s role as a media company?