12:00 PM New York – Microsoft agreed to acquire LinkedIn for $196 per share or $26.2 billion. Symantec plans to acquire privately held Blue Coat for $4.65 billion. Science Applications net was flat but revenues soared 20%. Synutra Intl net plunged on 22% decline in revenues.
Tollbooth Index slipped 49.65 or 0.5% to 10,597.94.
Dr.Reddy''s Laboratories Ltd
) gained 1.4% or 63 cents to $45.73 after the India-based drugmaker agreed to acquire eight new drug applications from Israel-focused Teva Pharmaceutical Industries Ltd. for $350 million.
) dropped 2.9% or $1.50 to $49.97 after the software giant agreed to acquire online professional network services provider LinkedIn Corp for $196 per share or $26.2 billion, a 50% premium to LinkedIn’s closing price of Friday to combine its cloud services business with 433 million members of the professional networking site.
The transaction is expected to close by the end of this year.
LinkedIn Corp stock surged 46.8% to $192.50.
) soared 6.8% or $1.18 to $18.48 after the cyber security services provider plans to acquire privately held cyber defence technology provider Blue Coat for $4.65 billion in cash.
Science Applications International Corp
) jumped 2.8% or $1.59 to $58.91 after the engineering and enterprise software services provider reported revenues in the first-quarter ending on May 6 soared 20% from a year ago to $1.22 billion.
Net income in the quarter was flat at $33 million from a year ago period and diluted earnings per share rose to 71 cents from 69 cents in the same quarter last year.
Synutra International, Inc
) slumped 2.9% or 12 cents to $3.94 after the infant dairy products maker said net sales in the fourth-quarter ending in March declined 21.8% from a year ago to $86.1 million.
Net income in the quarter plunged to $0.05 million or break even cents per diluted share compared to $24.3 million or 42 cents per share from the same quarter last year.
The company forecasted total net sales in the fiscal 2017 between $500 million and $550 million and net income in the range of $25 million to $30 million.