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STOCK MOVERS

U.S. Movers: Alibaba, Ariad Pharma, Schulman, Lamb Weston, Valeant, Yahoo


Author: Mukesh Buch
ticker.com
Last Update: 6:40 AM ET January 10 2017

2:10 PM New York Alibaba will finance $2.6 billion for a department store chain to private. Ariad Pharma agreed to be acquired by Japan-based Takeda for $5.2 billion. Schulman net tumbled 79%. Barracuda net swung to profit. Lamb Weston net soared 19%. Yahoo said most board members will step down after Verizon deal is completed.

Tollbooth Index increased 14.57 to 11,333.54.

Earnings Review

Alibaba Group Holding Ltd (BABA) jumped 2.1% or $1.99 to $96.71 after the online marketplace operator said that it will finance as much as $2.6 billion for Hong Kong-listed department store operator Intime Retail to go private.

Ariad Pharmaceuticals, Inc (ARIA) surged 72.9% or $10.01 to $23.75 after the lung cancer drug developer agreed to be acquired by Japan-based anticancer and therapeutic drugs maker Takeda Pharmaceutical Co Ltd for about $5.2 billion.

Under the terms, the cancer drug maker offered $24 in cash per share, a premium of nearly 75% to the closing price of Friday.

However, Ariad faces criticism from the U. S. Congress on the recent price hikes for some cancer treatment in 2016 to $200,000 per year, an increase of more than $80,000 in last several years.

The transaction is expected to close by the end of February.

Atlassian Corporation Plc (TEAM) rose 9 cents to $25.14 after the software developer agreed to acquire online software developer Trello for about $425 million in cash and stock.

Atlassian with more than 65,000 large and small organizations including Citigroup, eBay, Coca-Cola, VISA, BMW and NASA will team up with Trello with more than 19 million users.

The transaction is expected to close in the third-quarter ending in March 2017.

A Schulman Inc (SHLM) plunged 6.3% or $2.15 to $32 after the resins supplier reported revenues in the first-quarter ending in November declined 6.2% from a year ago to $600 million.

Net income in the quarter tumbled 78.8% to $1.1 million or 4 cents per diluted share compared to the $68.4 million or 18 cents per share in the same quarter last year.

Schulman forecasted sales in the fiscal year between $2.5 billion and $2.6 billion and operating profit in the range of $225 million to $230 million and diluted earnings per share in the range of $2.08 to $2.18.

Barracuda Networks Inc (CUDA) increased 1.6% or 38 cents to $24.15 after the data protection solutions provider said total revenues in the third-quarter ending in November soared 11% from a year ago to $88.8 million.

Net in the quarter swung to profit $1.8 million or 3 cents per diluted share compared to the loss of $1.6 million or 3 cents per share in the same quarter last year.

Lamb Weston Holdings Inc (LW) jumped 3.2% or $1.17 to $38.05 after the frozen appetizer and vegetable supplier reported revenues in the second-quarter ending on November 27 advanced 7% from a year ago to $790.7 million.

Net income in the quarter soared 19% to $87.2 million or 59 cents per diluted share compared to the $73.3 million or 50 cents per share in the same quarter last year.

VOXX International Corporation (VOXX) plunged 8.5% or 45 cents to $4.85 after the audio and consumer accessories maker said revenues in the third-quarter ending in November advanced 3.3% from a year ago to $198.9 million.

Net income in the quarter plummeted 25.6% to $5.8 million or 24 cents per diluted share compared to the $7.8 million or 32 cents per share in the same quarter last year.

Valeant Pharmaceuticals Inc (VRX) soared 7.7% or $1.18 to $16.53 after the pharmaceutical and medical device maker agreed to sell three skin care brands including AcneFree, Ambi and CeraVe to the France-based cosmetic products maker L''''Oreal SA for about $1.3 billion in cash.

Separately, the pharmaceutical group agreement to sell Dendreon Pharmaceuticals, Inc to the China-based Sanpower Group Co., Ltd, the privately owned conglomerate for $819.9 million in cash.

The transaction is expected to close in the first-half of 2017.

WD-40 Company (WDFC) tumbled 7.6% or $8.75 to $108.55 after the household products maker stated total net sales in the first-quarter ending in November dropped 4% from a year ago to $89.2 million.
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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