What a week on "Squawk Box"! Bill Ackman teams up with Valeant to buy Botox-maker Allergan. Novartis' buying and selling and lil' Squawkers running the show.» Read More
April 24- Zimmer Holdings Inc said on Thursday it would buy rival orthopedic products maker Biomet Inc for more than $13 billion, the latest deal in a wave of consolidations in the healthcare industry. The deal is expected to take Zimmer from the fourth-largest seller of orthopedics products to No. 2, behind Johnson& Johnson.
April 24- Eli Lilly and Co reported lower-than-expected quarterly revenue on Thursday, hurt by disappointing sales of its cancer and diabetes drugs, and its shares fell more than 3 percent.
LONDON, April 24- AstraZeneca announced faster-than-expected progress of its experimental cancer drugs and plans to spin off billions of dollars of non-core assets as it staked a claim for independence following reports of bid interest from Pfizer.
ZURICH, April 24- Swiss drugmaker Novartis posted a weaker-than-expected 1 percent rise in quarterly sales, underscoring the pressures from generic competition and tighter healthcare budgets that led it to announce a radical business overhaul earlier this week.
*M&A activity boosts Alstom, Scania. LONDON, April 24- European shares resumed their upward trend on Thursday as mergers and acquisitions and a solid update from France's Schneider Electric fuelled a rally in the industrial sector.
GENEVA— Strong new drug sales and higher operating income helped Swiss pharmaceutical firm Novartis AG report a 24 percent rise in first-quarter profit. "Novartis delivered a solid quarter, with all divisions contributing to growth," CEO Joseph Jimenez said.
Apple dazzled investors with a big earnings beat, another big buyback and a dividend hike that should boost sentiment up and down Wall Street.
WASHINGTON— Commerce Department releases durable goods for March, 8:30 a.m. Eastern time. WASHINGTON— Labor Department releases weekly jobless claims, 8:30 a.m.. WASHINGTON— Freddie Mac, the mortgage company, releases weekly mortgage rates, 10 a.m..
LONDON, April 23- The loud welcome given by investors to this week's deal for Novartis and GlaxoSmithKline to trade more than $20 billion of assets could trigger more pacts in the pharmaceuticals sector and beyond.
Diversity alone isn't a reason to invest in a stock, but companies dominated by alpha males and old white guys may end up costing shareholders.
Companies on the DiversityInc Top 50 list aren't just good at public relations; they beat the Dow on a 1-, 3- and 5-year basis.
Drugmakers eager to satisfy shareholders are wheeling, dealing, and in one case even making trades like a pro sports team looking to shake up its roster.
TOKYO— Shares were mixed in Asia on Wednesday, as weak data from China sapped upward momentum from an overnight rally on a flurry of deals in the pharmaceutical sector. Overnight, U.S. financial data and corporate earnings helped spur gains from deals by Switzerland's Novartis with Britain's GlaxoSmithKline PLC and the Eli Lilly& Co. of the U.S.
*Risk sentiment bolstered by gains in US, Europe. SYDNEY/ SINGAPORE, April 23- Asian stock markets were little moved on Wednesday after a Chinese manufacturing survey met expectations, but the Australian dollar plunged to a two-week low after data showed surprisingly low inflation in that country's economy.
SYDNEY, April 23- Asian shares crept higher on Wednesday following merger-driven gains in Europe and on Wall Street, though investors were wary in case coming figures on Chinese manufacturing again disappointed. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.15 percent.
Swiss drugmaker Novartis AG on Tuesday said it's trading its vaccine business for GlaxoSmithKline Plc's cancer drug business and selling its veterinary drug business to Eli Lilly and Co. Meanwhile, Canadian drugmaker Valeant Pharmaceuticals International Inc. said it teamed up with activist investor Bill Ackman in a bid for Botox maker Allergan that could be worth about $45 billion.
*Netflix up after results; Facebook gains on upgrade. Netflix Inc surged 7 percent to $372.90 a day after showing strong subscriber growth, a sign the trading favorite still had room to grow despite recent concerns over its valuation.
*Netflix up after results, Facebook gains on upgrade. Healthcare, up 1.5 percent, was the best performing of the 10 major S&P sectors, as Allergan Inc jumped 15.8 percent to $164.48 a day after activist investor William Ackman teamed up with Canadian drugmaker Valeant Pharmaceuticals International Inc to bid for the company.
European shares closed higher on Tuesday, starting a shortened trading week on a positive note.
*Netflix results lift Wall St, deal talk buoys Europe. NEW YORK, April 22- Global equity markets rose on Tuesday, powered by solid U.S. corporate earnings and deal-making activity among European drugmakers, while the euro hovered near break-even on uncertainty whether the European Central Bank will further ease monetary policy.