S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

Alexion to Buy Wilson Therapeutics, Fastenal Reports Strong Quarterly Results


Author: Mukesh Buch
ticker.com
Last Update: 12:14 PM EDT April 11 2018

12:10 PM New York City, New York Alexion Pharma agreed to buy Sweden-based Wilson Therapeutics for $855 million. EMCORE lowered second-quarter sales forecast. Fastenal declined despite strong first-quarter results. Washington Federal net soared on 10% jump in revenues.

Tollbooth Index fell 12.79 to 14,644.82 and for the year-to-date increased 6.4%.

Earnings Review

Alexion Pharmaceuticals Inc (ALXN) slipped 1.1% or $1.26 to $112.20 after the drug maker today agreed to acquire Sweden-based rival Wilson Therapeutics for about $855 million or 7.1 billion Swedish kronor.

The transaction is expected to close in the second-quarter of 2018.

EMCORE Corporation (EMKR) dropped 1.5% or 7 cents to $4.93 after the optical chips maker lowered second-quarter revenues in the range of $18 million to $19 million from the earlier estimate of $21 million to $23 million.

Fastenal Company (FAST) declined 7.5% or $4.10 to $50.32 after the industrial and construction supplies provider reported net sales in the first-quarter ending in March soared 13.2% from a year ago to $1.2 billion.

Net income in the quarter surged 30% to $174.3 million or 61 cents per diluted share from $134.2 million or 46 cents in the same quarter last year.

Layne Christensen Company (LAYN) rose 3 cents to $19.62 after the financial services provider stated revenues in the fourth-quarter ending in January jumped 10.5% from a year ago to $110.4 million.

Net in the quarter swung to profit $2.6 million or 12 cents per diluted share from a loss of $33.1 million or $1.67 in the same quarter last year.

Tupperware Brands Corporation (TUP) decreased 1.2% or 51 cents to $41.23 after the kitchen, home storage, and beauty products distributor lowered first-quarter revenues to decrease 2% and also lowered diluted earnings per share in the range of 87 cents to 92 cents from the earlier estimate of $1.01 to $1.06.

Washington Federal Inc (WAFD) slipped 1.8% or 60 cents to $33.60 after the financial services provider said total net interest income in the second-quarter ending in March jumped 9.5% from a year ago to $149.1 million.

Net income in the quarter soared 17.1% to $49.3 million or 57 cents per diluted share from $42.1 million or 47 cents in the same quarter last year.

The lender said as of March 31, total assets increased to $15.6 billion from $15.3 billion in the first-quarter ending in September 2017.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc