11:55 AM New York – Bristol-Myers plans to acquire Flexus Biosciences for $1.3 billion. Cooper Tire net surged three-fold. DISH Network annual net soared 17% but the subscriber-count fell. Valeant Pharma agreed to acquire Salix for $10.1 billion.
Tollbooth Index nearly edged down 0.01% or 1.29 to 10,644.38.
Bristol-Myers Squibb Co
) gained 31 cents to $60.83 after the biopharmaceutical products maker plans to acquire privately held drug-maker Flexus Biosciences Inc for up to $1.25 billion.
Cooper Tire & Rubber Co
) plunged 8.9% or $3.35 to $34.36 after the tire-maker said revenues in the fourth-quarter ending in December dropped 4.8% to $819.6 million from a year ago period.
Net income in the quarter surged 320% to $82.3 million or $1.39 per diluted share compared to $19.6 million or 31 cents from the same quarter last year.
DISH Network Corp
) fell 6 cents to $78.25 after the pay-television service provider reported total revenues in the year ending in December jumped 5.3% to $14.6 billion from a year ago period.
Net income in the quarter soared 17% to $945 million or $2.04 per diluted share compared to $807 million or $1.76 from the same quarter last year.
For the full year, DISH activated approx 2.60 million gross new Pay-TV subscribers but reduced to 13.98 million Pay-TV subscribers compared to 14.06 million a year ago period.
DISH added net broadband subscribers in the year of about 141,000 and average monthly revenue per Pay-TV subscriber in the year was $83.77 from $80.37 in fiscal 2013.
) increased 87 cents to $123.59 after the apparel, cosmetics and home furnishing retailer ahead of earnings result after the market close.
Globe Specialty Metals Inc
) soared 10.4% or $1.60 to $16.83 after the silicon metal and silicon-based alloy producer and Spain-based Grupo FerroAtlántica SA agree to merge through all-stock to form a company with a combined enterprise value of $3.1 billion.
Grupo Villar Mir the parent of FerroAtlantica will own 57% of the new company and GSM shareholders will own the rest of the 43% stake.
The transaction is expected to close in the fourth-quarter of 2015.
Stag Industrial Inc
) rose 5 cents to $25.56 after the industrial real estate developer said total revenues in the fourth-quarter ending in December soared 33.7% to $50 million from a year ago period.
Net in the quarter swung a loss of $5.24 million or 8 cent per diluted share compared to a profit of $2.1 million or 5 cents from the same quarter last year.
Tower Semiconductor Ltd
) climbed 17.1% or $2.33 to $16.03 after the Israel-based semiconductor maker stated revenues in the fourth-quarter ending in December jumped 75% to $235 million from a year ago period.
Net in the quarter swung profit to $0.6 million or 1 cent per diluted share compared to a loss of $30 million or 62 cents from the same quarter last year.
Valeant Pharmaceuticals Intl Inc
) surged 13.9% or $24.20 to $197.36 after the Canada-based specialty pharmaceutical company agreed to acquire gastrointestinal drug maker Salix Pharmaceuticals Ltd in an all-cash deal valued of about $10.1 billion.
Under the terms, shareholders of Salix will get $158 per share and according to the company statement, the deal carries an enterprise value of about $14.5 billion.