News Summary

The Employment Trends Index for the month of May stands at 95.7. It has risen for the ninth consecutive month. In April, the revised index was at 95.2. The Conference Board commented, "The ongoing growth in the Employment Trends Index suggests that the disappointing uptick in payroll employment in May could just be a one-month blip, and that jobs will likely expand further in the next several months." According to a Wall Street Journal report, giant supermarket companies such as Supervalu SVU, Safeway SWY and Ahold AHONY secretly fund the opposition to Wal-Mart WMT stores at the grass-roots level. These companies hire a consultant, who specializes in the use of political campaign strategies, to raise support against developments of the retailer giant WMT. Cambridge, Maryland-based Javelin Pharmaceuticals Inc JAV disclosed today that Hospira Inc HSP sent Javelin a notice on June 4, 2010 to fund its $2 million loan on the basis of the existing loan agreement between the two companies. On the same day, JAV learnt that its motion to expedite proceedings has been granted by the Delaware Court of Chancery. A trial date of July 26, 2010 has also been set for the lawsuit filed by Javelin against HSP and its wholly-owned subsidiary, Discus Acquisition Corp. By 10:42 am, shares of JAV were up 6.82% to $1.4, while those of HSP had dropped 0.35% to $50.65. Read more from Benzinga's Markets.