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Market Update

Dish, CBS Sign New Agreement; Icahn Buys Stake in SandRidge

Author: Mukesh Buch
Last Update: 9:42 AM EST November 24 2017

1:45 PM New York DISH Network and CBS Corp signed a multi-year carriage agreement. Nektar experimental pneumonia treatment with Bayer did not meet primary goal in a phase III study. Carl Icahn bought 13.51% stake in SandRidge Energy.

Tollbooth Index increased 27.96 or 0.2% to 13,493.74.

Earnings Review

DISH Network Corp (DISH) slipped 1.3% or 61 cents to $49.83 after the pay-TV service provider signed a new multi-year contract with CBS Corporation to carry content from local station and the network.

Under the agreement, Dish is allowed using CBS content and CBS owned stations along with CBS content across various U.S. cities, including CBS Sports Network.

Financial terms of the deal were not disclosed.

Nektar Therapeutics (NKTR) jumped 4.2% or $2.09 to $51.84 after the biopharmaceutical drugs maker confirmed that experimental pneumonia treatment which developing with Bayer did not meet its primary goal in a phase III study.

SandRidge Energy, Inc (SD) surged 14% or $2.45 to $ 19.95 after activist
investor Carl Icahn bought 13.51% stake in the oil-and-gas producer and may opposes the acquisition of Bonanza Creek Energy.

Teva Pharmaceutical Industries Ltd (TEVA) gained 1.1% or 15 cents to $13.62 on local media report Israel-based pharmaceutical products maker plans to reduce its workforce by 20% to 25% in Israel.

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