In today’s Bulldog wrapup of technology and life science news: Google, Mattel are bringing back the View-Master; IBM settles a pollution suit in New York; AT&T’s CEO warns against Internet regulation; and UBS reverses its rating on GSK stock to “buy.”

The details:

  • Google, Mattel Try to Bring View-Master into 21st Century

  Mattel and Google are trying to bring the 75-year-old View-Master into the 21st century, updating the iconic stereoscopic photo viewer with smartphone compatibility and virtual reality technology.

It’s a long way from Google Glass, both in price ($30 vs. $1,500) and aim.

Targeted at families, the updated View-Master has users insert a smartphone into a headset. Using a smartphone app, the gadget hopes to immerse kids in a slew of virtual worlds, from far-off cities to outer space.

Mattel Inc. and Google Inc. unveiled the virtual reality viewer Friday at Mattel’s New York City office.

The device launches in the fall, so the companies had no finished product to show off. But Mattel demonstrated the technology using Google Cardboard, a cardboard attachment that turns smartphones into virtual reality viewers.

  • IBM Settles Pollution Suit in N.Y.

 A settlement has been reached in a $100 million lawsuit filed by businesses and residents of an upstate New York village where a toxic chemical from a former IBM plant polluted their neighborhoods.

Local media report that attorneys for the plaintiffs and Armonk, New York-based IBM announced earlier this week that the two sides had reached an out-of-court settlement in the lawsuit filed in January 2008 by property owners and residents in Endicott, just west of Binghamton.

Details of the settlement haven’t been released.

The suit claimed that a subterranean plume of trichloroethylene from IBM’s former microelectronics plant in Endicott had penetrated nearby homes and shops as a toxic vapor. The vapors were first detected in 2003.
Exposure to TCE, a metal cleaning solvent, has been linked to illnesses ranging from kidney cancer to brain damage.

  • AT&T Chairman and CEO Warns on Net Regulation

AT&T’s Chairman and CEO Randall Stephenson told CNBC that “net neutrality” is bad for the Internet.

Stephenson said he supports the original idea of net neutrality to preserve a “free and open Internet … without any blocking and without any prioritization.”

But he added: “We have now, under the president’s urging with the FCC, moved from pursuing a free and open Internet to regulating the Internet end to end.”

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  • UBS Changes Gears on GSK Stock

Eli Hoffmann, news editor at SeekingAlpha, reports that UBS has changed its rating on GlaxoSmithKline (NYSE: GSK) to “buy” from “sell.”

“GSK has been a difficult investment case for years, with declining earnings since 2010, as sales growth has been anemic and the operating margin trended steadily down despite several rounds of restructuring,” UBS said. “For the first time in over a decade, we see scope for substantial earnings growth in the coming three-five years, driven by new products in ViiV and Vaccines.”

UBS sees big potential for GSK HIV and shingles treatments.