Market Focus


The Food and Drug Administration has authorized an experimental drug made by Chimerix for us as an emergency treatment against the virus. The drug is being used to treat Thomas Duncan, the man hospitalized in Dallas with the virus. Shares of the drug maker rose today, closing more than 4.5 percent higher at $31.47.

H&R Block

H&R Block’s plans to sell its banking business have been delayed, sending shares lower. The tax preparer said regulatory approval to sell its banking unit of BofI Federal Bank will not come through this year. That means H&R Block will continue to offer financial services though the upcoming tax season. Shares fell 5.5 percent to $29.91.

Durata Pharmaceuticals & Actavis 

Shares of Durata Therapeutics soared after Actavis said it would buy the company for $675 million. The move will help Actavis, a specialty pharmaceutical company, bolster its infectious disease portfolio. Shares of Durata soared almost 75 percent to $24.24. Actavis fell almost one percent to $243.95.

Disney & Turner Broadcasting

Disney and Time Warner’s Turner Broadcasting both inked contracts with the NBA. Both companies have a new nine-year with the NBA, under which their channels will be able to televise games, starting with the 2016 season running through the year 2025. Disney shares rose slightly to $88.56. Time Warner shares were down eleven percent to $73.82.

Container Store

After the bell the Container Store posted weaker than expected second-quarter revenue. The retailer’s sales also slipped below forecasts and its outlook for the year disappointed investors. After hours, the stock initially fell. During the regular session, shares were off almost four percent $21.89.

GT Advanced Technologies

GT Advanced Technologies plunged today after a surprise filing for bankruptcy. The company makes sapphire Glass, which was once speculated to be a component of the newly release iPhone, but the stock tumbled last month after Apple said it would not use the sapphire screens in its new devices. Today, GT plummeted, falling more than 92 percent to under $1.

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