Closing Bell
The three major U.S. indices all closed Friday's session in the green, though stocks closed off of their intraday highs.
The Dow Jones Industrial Average rose 0.37%, or 93 points to 25,018, while the S&P 500 gained 0.11%, or 3 points to 2,801, and the Nasdaq rose 0.03%, or 2 points to 7,826.
Northrop Grumman Stock Rebounds Following CEO Announcement
Shares of Northrop Grumman (NOC) were basically back to even Friday after taking a large dip following the announcement that CEO Wes Bush will be stepping down on January 1.
Northrop Grumman President and COO Kathy Warden will take over for him once he steps down. Bush will stay on as a chairman through July 2019.
"She brings the vision and values to lead Northrop Grumman into the future," Bush said.
"This is the right time to make this change, as Kathy is well prepared to become CEO," a spokesperson told CNN Money. "The board of directors has a strong focus on succession planning, and Kathy's election as incoming CEO and president enables us to ensure a seamless transition in this important leadership position for our company."
Johnson & Johnson Told to Pay Nearly $5 Billion in Lawsuit
Johnson & Johnson (JNJ) was ordered to pay $4.64 billion in total damages to 22 women and their families after the women claimed that asbestos in the company's talcum powder contributed to their contraction of ovarian cancer.
Johnson & Johnson will have to pay $4.14 billion in punitive damages as well as $550 million in compensatory damages.
"Johnson & Johnson remains confident that its products do not contain asbestos and do not cause ovarian cancer and intends to pursue all available appellate remedies," spokeswoman Carol Goodrich said, according to the Chicago Tribune.
New Jerseyans Placed $16.4 Million in Sports Bets in June
New Jersey residents placed bets totaling $16.4 million from June 14-30 as the state opened up sports betting operations following the Supreme Court ruling that overturned a previous law barring states from legalizing sports gambling.
The sports books were able to hold $3.5 million, the amount the house keeps of the amount wagers, while the state of New Jersey was able to generate $300,000 in taxes from the wagers.
For comparison, Nevada has averaged a hold percentage of 5.5% since 1992.
Papa John's Could Remove John From Marketing Imagery, Report
The AP is reporting that beleaguered pizza chain Papa John's (PZZA) is working on a way to remove imagery of former CEO and chairman John Schnatter from the company's advertising campaigns.
Schnatter stepped down as CEO of the company after it was revealed he used a racial epithet during a conference call earlier this year. Schnatter remains on the board and is still Papa John's largest shareholder.
This is the second time in less than a year that Schnatter has found himself in hot water. Last year Schnatter stepped down as CEO after he blamed protesting NFL players for the company's dip in sales.
Papa John's shares are up 1.75% Friday.
Premarket
U.S. futures were rising Friday morning as markets look to continue their winning streak heading into the weekend after a sharp decline on Wednesday.
Dow futures were up 0.02%, indicating an open 5 points higher, while Nasdaq futures also climbed 0.02%, indicating an open 2 points higher. S&P futures were lagging, falling 0.02%, indicating an open 1 point lower.
Asian markets ad a strong day of trading, outside of the Shanghai Composite. The Nikkei jumped 1.85%, while the Hang Seng rose 0.16%. The Shanghai Composite lagged, falling 0.23%.
In Europe, the FTSE 100 rose 0.42%, the DAX gained 0.27% and the CAC 40 rose 0.38%, with about four hours left in trading.
