Some of Thursday's midday movers:» Read More
Pharmacy benefits manager Express Scripts has launched a hostile $26 billion bid to buy rival Caremark a move that could trump Caremark's current deal to be acquired by drugstore chain CVS.
When Their Stories Are Ours, Too: I love sports. Many people who work in the financial world feel the same way. So when us sports “wannabes” see a sports story with a business angle, we jump all over it. Such was the case with the NBA’s announcement of fines and suspensions for the Saturday night brawl involving the Knicks and the Nuggets...
The private equity surge continues. About $60 billion in mergers and acquisitions deals just in the U.S. have been announced this morning. Apollo Management alone is involved in two of the four deals. The only buyout not involving a PE firm was an aggressive bid by Express Scripts for Caremark Rx – which was already entertaining a bid from CVS. CNBC’s Melissa Lee reported the story on “Squawk on the Street.”
U.S. stocks look set to spring higher, as of now, as the year end rally pulls in buyers and takeover activity supports prices. Japanese stocks closed at a seven month high ahead of tomorrow's rate decision by the Bank of Japan. European markets are flat to higher, helped by takeover activity.
Walgreen posted a greater-than-expected 9.3% rise in sales at stores open at least a year in November, sending its shares up more than 3%.