Johnson & Johnson
Johnson & Johnson accepted a $4 billion offer for its blood-testing unit. Private-equity firm The Carlyle Group made a bid for the unit back in January and Johnson & Johnson had until today to agree to the deal. The transaction is expected to close mid-year. Johnson & Johnson shares edged up a fraction to $98.23.
Fannie Mae & Freddie Mac
Bill Ackman’s firm Pershing Square upped its stake in Fannie Mae and Freddie Mac to more than 11 percent. The activist investor is now the largest shareholder in both of the government sponsored mortgage lending giants. Shares of both companies surged about nine percent. Fannie Mae closed at $3.89 and Freddie Mac at $3.87.
Coke & Pepsi
Soda sales are losing their fizz. Americans cut back on soda at a faster pace last year according to a new report. Even diet soda sales are suffering. This is the ninth straight year of declines for soft drink sales. Shares of Coke fell a fraction to $38.66. Shares of PepsiCo were up slightly to $83.50.
Disney’s hit movie “Frozen has become the top-grossing animated film in box office history. The musical topped $1 billion in global sales. The impressive number surpasses the mark Disney’s other movie “Toy Story 3” set in 2010. Shares were up nearly 1.5 percent to $80.07.