Twitter Inc (NYSE:TWTR) sued the U.S. government in the District Court of California on Tuesday in an effort to restrict the government from preventing Twitter from releasing the number of intelligence agency requests. In a blog post, Twitter said “Our ability to speak has been restricted by laws that prohibit and even criminalize a service provider like us from disclosing the exact number of national security letters and Foreign Intelligence Surveillance Act court orders received — even if that number is zero.” The company decided to file the lawsuit after months of negotiations with officials from the Justice Department fell apart. The case hinges on whether nondisclosure provisions in national security letters under the Patriot Act are unconstitutional and violate Twitter’s right to free speech. Other tech companies have made agreements to disclose the number of requests, but can only disclose to the nearest 1,000 the number of inquiries made by U.S. or foreign intelligence services. Shares of TWTR are trading with a 52-week range of $29.51 to $74.73.
Coronado Biosciences Inc (NASDAQ:CNDO), the biopharmaceutical company said it has formed a wholly owned subsidiary, Journey Medical Corp., to acquire and license dermatology products. Journey Medical will begin building a portfolio of dermatological assets focused on acne, steroid responsive dermatoses, pigmentation and antifungals for promotion to dermatologists and pediatricians, the company said. It named Claude Maraoui, who was formerly vice president of dermatology sales and executive director of aesthetics sales at Medicis Pharmaceutical, as CEO of Journey Medical. Coronado Biosciences Inc (NASDAQ:CNDO) is trading in a 52-week range of $1.25 to $8.00.
Blackhawk Network Holdings Inc (NASDAQ:HAWK) reported better-than-expected Q3 results ended on September 6 that beat the consensus of analysts polled by Capital IQ. The payment service provider posted Q3 adjusted net income of $4.7 million, or $0.09 per diluted share, compared to adjusted net income of $4.0 million, or $0.08 per diluted share in the year-ago period. Analysts were expecting Q3 EPS of $0.03 per share. Operating revenues rose 31% year-on-year to $269 million, beating the consensus of $255.3 million. CEO Bill Tauscher commented, “Revenue growth has continued to be driven by strong sales of open loop gift cards in the U.S., the acquisitions of InteliSpend and Retailo and sales of digital media products in Japan.” Blackhawk Network Holdings Inc (NASDAQ:HAWK) shares are trading with a 52-week range of $20.48-$32.95.