2:00 PM New York – Alere net swung to a loss. Danaher agreed to acquire Cepheid Inc for $4 billion. GE agreed to buy two European 3-D metal printing machines makers for $1.6 billion. Marvell Technology net swung to profit. Spectra Energy agreed to be acquired by Enbridge.
Tollbooth Index edged down 5.46 to 11,052.38.
) gained 1.9% or 74 cents to $39.87 after the diagnostic equipment maker reported revenues in the second-quarter ending in June fell 2% from a year ago at $611 million.
Net in the quarter swung to a loss of $40.3 million or 46 cents per diluted share compared to the profit of $9.1 million or 11 cents per share from the same quarter last year.
) dropped 1.8% or $1.47 to $79.72 after the medical, industrial and commercial products maker agreed to acquire molecular diagnostics products maker Cepheid Inc for $53 per share in cash or about $4 billion.
The transaction is expected to close in the fourth-quarter of this year.
General Electric Co
) agreed to acquire two small but significant 3-D metal printing machines makers, Sweden-based Arcam AB for about $700 million in cash and Germany-based SLM Solutions Group AG for about $761 million in cash.
GE expects to grow the new additive business to $1 billion by 2020 and estimated product cost-out across the company in the range of $3 billion to $5 billion in the next ten years.
Marvell Technology Group Ltd
) slipped 1.8% or 23 cents to $12.78 after the Bermuda-based fabless semiconductor maker said revenues in the second-quarter ending in July soared 16% from a year ago at $626 million.
Net in the quarter swung to profit of $51.3 million or 10 cents per diluted share compared to a loss of $22.7 million or 4 cents per share from the same quarter last year.
Marvell forecasted revenue growth in the third-quarter to be flat to 4% decline from the second quarter and diluted earnings per share in the range of 3 cents to 8 cents.
Spectra Energy Corp
) surged 12.9% or $4.66 to $40.81 after the natural gas infrastructure developer agreed to be acquired by the Canada-based Enbridge Inc for about $28 billion to create the largest North American energy infrastructure company with an enterprise value of $127 billion or C$165 billion.
The transaction is expected to close in the first-quarter of 2017.