12:00 PM New York – Berkshire Hathaway acquired about $1 billion worth shares in Apple. Gannett raised its offer to acquire Tribune Publishing. Pfizer plans to acquire Anacor Pharmaceuticals for about $5.2 billion. Virtusa net jumped 6%.
Tollbooth Index advanced 85.22 or 0.8% to 10,463.37.
) jumped 3.4% or $3.05 to $93.60 after the Berkshire Hathaway Inc acquired new shares worth about $1 billion in mobile and media devices maker with a purchase prices between $93.42 and $109.56, with an estimated average price of $99.61.
As of March 31, according to filing with the U.S. Securities and Exchange Commission, Berkshire held 9.81 million Apple shares worth $1.07 billion.
Editas Medicine Inc
) surged 16.8% or $5.08 to $35.17 after the genome editing company reported net loss in the first-quarter ending in March widened to $17.8 million or 80 cents per diluted share compared to $5.4 million or $2.75 per share from the same quarter last year.
Gannett Co Inc.
) gained 1.5% or 23 cents to $15.86 after the owner of USA TODAY and more than 100 local news properties nationwide said it raised its offer to acquire Tribune Publishing Co. to $15 per share in cash.
On May 4, the Board of Director’s of Tribune Publishing unanimously rejected unsolicited proposal of Gannett’s for about $12.25 per share in cash.
Tribune Publishing Co share soared 23% to $14.11.
) rose 10 cents to $33.29 after the biopharmaceutical company said it would buy smaller rival Anacor Pharmaceuticals Inc. worth about $5.2 billion in cash.
Anacor Pharmaceuticals Inc shares surged 54.5% to $99.23.
jumped 68.6% or 54 cents to $1.32 after the diagnostics equipment maker agreed to be acquired by Luminex Corporation for $1.35 per share or approximately $58 million in cash.
) plunged 8.9% or $3.16 to $32.03 after the information technology said revenues in the fourth-quarter ending in March surged 36% from a year ago to $171.9 million.
Net income in the quarter jumped 6% to $12.3 million or 41 cents per diluted share compared to $14.6 million or 39 cents per share from the same quarter last year.
Virtusa forecasted revenues in the first-quarter in the range of $202.5 million to $207.5 million and Non-GAAP diluted earnings per share between 14 cents and 18 cents.
In the year, the company estimated revenues between $890 million and $920 million and Non-GAAP diluted earnings per share in the range of $2.10 to $2.30.