Some of the names on the move ahead of the open.» Read More
Following are the day’s winners and losers. Find out why shares of Zimmer Holdings and Sepracor popped while EMC and Amazon dropped.
Stocks closed higher in another jittery session, helped by expectations of another Fed rate cut and an economic stimulus package from the federal government.
Cardinal Health reported an 11 percent rise in quarterly earnings on Monday, led by its clinical and medical products businesses, but cited disappointment with its main pharmaceutical supply chain segment.
Pharmaceutical wholesaler McKesson reported that its quarterly profit rose a better-than-expected 8 percent, led by increased demand for its drug distribution business, and the company raised its full-year earnings forecast.
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Cardinal Health on Thursday said its quarterly net profit rose, led by strong demand for medical pumps and other devices in its Clinical Technologies and Services business.
As the push for universal health care in the U.S. heats up on Capitol Hill, market experts say generic drug stocks and pharmaceutical distributors should perform well, while the hit to big pharma may not be as bad as some anticipate.
Cardinal Health has agreed to pay $35 million to settle charges that it engaged in nearly a four-year fraudulent revenue and earnings scheme, the U.S. Securities and Exchange Commission said on Thursday.
M&A news and quarterly updates provided some of the catalysts behind the most actively traded stocks on Monday.
Stocks are looking for direction amid a flurry of takeover headlines this morning. Asian stocks were higher overnight on the back of Wall Street's Friday gains, but European markets are mostly weaker.
Cardinal Health said on Monday it would acquire Viasys Healthcare, which makes medical products for respiratory care and other uses, for about $1.5 billion, including debt.
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Cardinal, one of the nation's top three drug distributors, made good on newly appointed Chief Executive R. Kerry Clark's promise in November to sell the underperforming unit and focus on reshaping the company.