2:00 PM New York – Tobira Therapeutics surged seven-fold after liver treatment provider agreed to be acquired by Allergan for $1.7 billion. Ascena Retail net swung to profit on 55% jump in revenues. GM priced its all electric Chevrolet Bolt EV. Kmart may close 64 stores in the U.S. Lennar net jumped 6%.
Tollbooth Index edged up 6.01 to 10,914.28.
dropped 2.6% or $6.41 to $238.99 after the Ireland-based specialty pharmaceutical products maker agreed to buy clinical-stage liver diseases therapies developer Tobira Therapeutics Inc for $28.35 per share and up to $49.84 per share in contingent value rights or about $1.7 billion.
Shares of Tobira Therapeutics Inc (formerly Regado Biosciences) surged 726.2% to $39.16 and its market value boosted to $735 million from $89.2 million on Monday.
Allergan expects to close the deal by the end of 2016.
Ascena Retail Group Inc
) tumbled 27.2% or $2.19 to $5.92 after the specialty retailer said net sales in the fourth-quarter ending in July surged 54.7% from a year ago to $1.81 billion.
Comparable store sales in the quarter slumped 4%.
Net in the quarter swung to profit $13.8 million or 7 cents per diluted share compared to the net loss of $323.4 million or $1.98 per share from the same quarter last year.
Ascena Retail forecasted total sales in the fiscal 2017 between $6.9 billion and $7 billion and diluted earnings per share in the range of 46 cents to 51 cents.
General Motors Co
) fell 14 cents to $31.58 after the automaker today priced its all electric Chevrolet Bolt EV at $37,495.
However, GM said it’s depending on individual tax situations; customers may receive an available federal tax credit of up to $7,500 for a net value of $29,995.
The Bolt EV will be available at select dealerships in late 2016.
Sears Holdings Corporation
declined 1.4% to $11.61on media report the discount retailer plans to close 64 Kmart stores in the U.S.
In April, Sears had announced its plan to close 68 Kmart stores during this summer.
) dropped 2.3% or $1.03 to $44.06 after the home-builder said revenues in the third-quarter ending in August soared 14% from a year ago to $2.8 billion.
Net income in the quarter jumped 5.6% to $235.8 million or $1.01 per diluted share compared to the $223.3 million or 96 cents per share from the same quarter last year.
The home-builder reported new orders in the quarter advanced 8% to 7,018 homes and increased 10% in dollar value to $2.6 billion and backlog advanced 12% to 9,253 homes and surged 14% in dollar value to $3.4 billion.
T-Mobile US, Inc
), the mobile communications services provider said in the quarter so far the company has added approx 753,000 postpaid customers and 650,000 prepaid net customer and reaffirmed its current financial guidance and full year outlook.