Market Focus

Digital River

Digital River agreed to be taken private sending shares surging. The e-commerce service provider will be bought by an investor group led by Siris Capital Group for $830 million. The agreement also has a 45-day period where digital river can go shop around for another buyer. The stock soared 47 percent to $25.65.

Bristol Myers

Bristol-Myers Squibb’s top-selling drugs continued to perform well in its third quarter, helping the company deliver for investors. The drug maker’s results topped forecasts even as revenue fell because of an earlier divestiture of diabetes products. Shares soared two percent to $53.63.


Shire trounced estimates. The Dublin-based drug maker saw record sales growth in its third quarter. It upped its earnings guidance for the year on the strong results. The CEO says this performance is especially notable in light of the collapse of Shire’s planned combination with Abbvie. Shares popped five percent to $194.49.

Chiquita Brands & Fyffes

Chiquita Brands has called off its planned merger with the Irish food company Fyffes. Shareholders rejected the combination, which would have created the world’s largest banana seller. Now Chiquita says it will enter talks with a Brazilian company that upped its offer last week. This is the latest tax inversion deal to fall through since the Treasury Department cracked down on these types of mergers in September. Shares were 40 cents higher, closing at $14.16.

SodaStream & PepsiCo

PepsiCo is planning a SodaStream test run which sent SodaStream higher today. The beverage giant says it will be a small 10-week run with the do it yourself soda maker later this year. SodaStream soared 15 percent to $24.45.

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

Leave a Reply