Market Focus

DreamWorks Animation

DreamWorks Animation could be splitting from Disney. According to the Hollywood Reporter, Steven Spielberg’s studio DreamWorks Animation will part ways with the media giant next year. The company is reportedly in talks with Universal Pictures. Shares were up more than 3.5 percent to $20.15. Universal pictures is owned by CNBC’s parent company, which produces this program.

Navistar 

The truck and engine maker, Navistar, reported its 12th quarterly loss in a row. Results suffered from restructuring and warranty costs. Separately, the firm said the Securities and Exchange Commission is considering penalties against it. This is related to its strategy for complying with emission regulations. Shares tumbled more than four percent to $16.62.

Valeant Pharmaceuticals 

Valeant announced its eighth acquisition of the year. The pharmaceuticals company is buying a surgical device maker called Synergetics. The firm makes equipment for ophthalmology and neurosurgery. Valeant shares were more than 3.5 percent higher to $232.18. Synergetics surged 50 percent to $6.59, but it’s worth mentioning Synergetics is a small cap stock.

Amgen 

Amgen had some positive drug data to report today. The firm says its experimental bone density drug was more effective than an Eli Lilly treatment that is already on the market. Separately, a court declined the company’s request to block Novartis from launching a copycat version of its drug. The stock was up more than three percent to $152.29.

Lannett 

Lannett saw its shares rise after the close after announced it will buy the generic drugmaker Kremers Urban for more than $1 billion. Shares surged as much as twenty percent in after hours trading. By the close the stock was unchanged at $47.29

Philip Morris 

Philip Morris’ Indonesian arm is reportedly gauging demand for a rights offering for nearly $2 billion dollars. The cigarette seller is reportedly in talks with investors and could start taking orders at the end of the month. The stock was one percent higher to $78.70.

Planet Fitness 

Planet Fitness posted late earnings that beat expectations in its first report as a public company. Sales were also better than analysts were expecting. Shares rose initially after hours before falling back. At the close shares were up more than one percent to $18.50.

This entry was posted in Market Focus. Bookmark the permalink.

Leave a Reply