Abbott Laboratories (ABT) has agreed to buy medical device maker St. Jude Medical (STJ) for $25 billion. The offer represents a 37 percent premium to St. Jude's closing stock price Wednesday. (Reuters)
French pharma giant Sanofi (SNY) is making an all-cash offer to buy U.S. biotech firm Medivation in a deal worth about $9.3 billion, representing a 50 percent premium over the San Francisco-based firm's recent volume weighted average share price prior to takeover rumors. (Reuters)
Valeant (VRX) plans sweeping board changes, with five directors stepping down, replaced by four new members and incoming CEO Joseph Papa. Separately activist investor Bill Ackman, a big Valeant shareholder, promised lawmakers he would urge the drugmaker to reduce prices. (WSJ)
Ford (F) earnings beat Wall Street estimates, but revenue missed. CEO Mark Fields told CNBC the automaker would continue to deliver great results.
Facebook (FB) shares were soaring in premarket trading, after widely exceeding earnings estimates and also beating on revenue. The social network said monthly active users, a key metric, were 1.65 billion at the end of the first quarter, higher than forecasts. (CNBC)
Facebook also proposed a new share structure to allow CEO Mark Zuckerberg to "keep founder control," while making good on a promise to put 99 percent of his shares into philanthropy. He said one of his charitable goals is to cure all diseases by the end of the century. (CNBC)
Charles Schwab (SCHW) will stop selling mutual funds that carry a load as of May 2. Figures from the Investment Company Institute show that investors pulled more than $500 billion from such funds with a commission between 2010 and 2014. (WSJ)
Volkswagen, accused of manipulating emissions test data on its diesel vehicles in the U.S. and Europe, faces a $9 billion buyback of its diesel vehicles. VW chief Matthias Mueller said, "Rules were broken and boundaries overstepped." (CNBC)
At least 14 doctors and patients were killed after a direct airstrike destroyed a hospital in the Syrian city of Aleppo, said medical charity Doctors Without Borders, which supports the facility. (NBC News)
Fresh off his first traditional policy speech, GOP presidential front-runner Donald Trump was back in classic form on the stump in Indiana, making fun of rival Ted Cruz for tapping Carly Fiorina as his vice presidential running-mate. (NBC News)
Reeling from Tuesday's losses, Bernie Sanders said he's scaling back his upstart Democratic bid for the White House and laying off hundreds of campaign workers. (NY Times)
Eight years after the financial crisis, unemployment is at 5 percent, deficits are down and GDP is growing. Why do so many voters feel left behind? President Barack Obama told the New York Times he has a theory.