Market Focus

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Infoblox

Shares of network equipment-maker Infoblox were hammered today after the company warned its profit for this quarter would be lower than expected because of contract delays and a slowdown in orders. The company’s CEO is also stepping down after 10 years at the helm. Shares of Infoblox ended down 37% to $12.96.

ANN

A positive outlook sent shares of ANN Inc. higher today despite weaker-than-expected earnings. The parent of the Ann Taylor Loft brands raised its second quarter revenue forecast, saying that traffic picked up in May following the severe winter. Shares of ANN finished the day up 4% to $38.87.

Valeant Pharmaceuticals 

Valeant Pharmaceuticals is upping its offer for Botox-maker Allergan for the second time this week. Valeant says it will now offer $55 billion in cash and stock, up from $49 billion. The revised bid values Allergan shares at more than $179 each. Today, shares of Allergan closed up nearly 6% to $167.46, while Valeant also ended the trading day higher by about 1.5%.

Shire

U.K. drugmaker Shire is reportedly considering a cash offer of more than $4 billion for NPS Pharmaceuticals. NPS is a specialty maker of drugs for rare diseases. For its part, NPS says it has not been contacted by Shire. NPS shares jumped more than 15% to $31.13 as shares of Shire fell a fraction to $173.39.

Jos.A.Bank

The ongoing saga between Men’s Wearhouse and Jos.A.Bank appears to be winding down. Shares of bother companies got a bump after the Federal Trade Commission approved the merger of both companies. Jos.A.Bank closed up more than 1% to $64.95, and Men’s Wearhouse spiked 3% to $49.78.

Lowe’s

Home improvement company Lowe’s is hiking its dividend nearly 28% to $0.23 per share. The dividend will be paid on August 6 to shareholders of record as of July 23. The company has declared a divided every quarter since it went public in 1961. Shares of Lowe’s finished the day higher by a fraction to about $47 per share.

Mack-Cali

Mack-Cali Realty is cutting its dividend in half to $0.15 per share. Shares of the real estate investment trust fell nearly 1% to $21.75.

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