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Market Update

Chiquita Agrees to Acquire Fyffes; Alexion, Regado Surge


Author: Mukesh Buch
ticker.com
Last Update: 10:59 AM ET March 10 2014

10:55 AM New York Alexion lifted sales and profit outlook for the year. Chiquita Brands agreed to acquire U.K.-based Fyffes Plc for $526 million. McDonald''s February sales dropped 1.4%. Regado Biosciences surged 20% on fast track regulatory approval status.

Alexion Pharmaceuticals, Inc (ALXN) climbed 5.1% or $8.60 to $176.65 after the biopharmaceutical company revised its profit and sales outlook for the year after the French government agreed to increase the reimbursement payments for the company''s lead drug, Soliris.

The company lifted its full-year adjusted earnings per share forecast between $4.37 and $4.47 from its previous estimate in the range of $3.70 to $3.80 per share.

Alexion also raised sales outlook for the year between $2.15 billion and $2.17 billion from earlier forecast of $2 billion to $2.02 billion.

Chiquita Brands International Inc (CQB) surged 12.1% or $1.31 to $12.15 after the bananas and packaged salads marketer and distributor today agreed to acquire U.K.-based Fyffes Plc in an all-stock transaction for $526 million or 379 million.

Chiquita shareholders will own about 50.7% of the new company ChiquitaFyffes and Fyffes shareholders will own approx 49.3% on a fully diluted basis.

McDonald''s Inc (MCD) fell 49 cents to $95.01 after the fast food restaurant chain operator said same-restaurant sales in February dropped 1.4% in the U.S. hurt by tough winter weather and worldwide sales at restaurants open at least 13 months fell 0.3%

Regado Biosciences Inc (RGDO) surged 19.8% or $1.62 to $9.80 after the biopharmaceutical company said the U.S. Food and Drug Administration granted its REG1 anticoagulant therapy fast-track development status.

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