On The Fly: Top five weekend stock stories

Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. General Motors has agreed to a $13.9M settlement with Orange County, California over claims accusing the automaker of intentionally concealing serious safety defects including those involving faulty ignition switches tied to hundreds of deaths and injuries, according to Reuters. 2. Celgene (CELG) has announced that its Ozanimod, a novel, oral, selective sphingosine 1-phosphate 1 and 5 receptor modulator, demonstrated superiority versus Biogen’s (BIIB) Avonex in the phase III RADIANCE Part B trial evaluating the efficacy and safety in patients with relapsing multiple sclerosis. 3. Target’s (TGT) missteps have cost the company $15B in stock-market value over the past three years, Vito Racanelli wrote in this week’s edition of Barron’s. But the retailer is now remodeling stores, cutting costs and ramping up its online business to combat Amazon (AMZN), and store traffic and earnings look poised to rise in coming years, which could lead to an upward revaluation of the shares, he noted, adding that the stock could return up to 30%. 4. Lionsgate’s (LGF.A) “Jigsaw” slayed the competition at the domestic box office, ending the weekend with an estimated $16.3M from 2,941 theaters. Despite having said “Saw 3D” back in 2010 would be the final chapter in the “Saw” series, Lionsgate decided to have another go, with the new movie picking up a decade after the death of the killer when police are puzzled by a rash of murders matching his signature moves. “Jigsaw” earned a B CinemaScore and got 39% from Rotten Tomatoes. 5. Amgen (AMGN), Biogen, Celgene, Gilead Sciences (GILD), Enterprise Products Partners (EPD), Amazon, Alphabet (GOOGL; GOOG), and Microsoft (MSFT), Alibaba (BABA), China Life Insurance (LFC), and Sony (SNE) saw positive mentions in Barron’s.

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