On Thursday, Shares of Opko Health, Inc. (NYSE:OPK), lost -15.01% to $16.25.
OPKO Health, and Bio-Reference Laboratories, Inc. (BRLI) declared that the companies have signed a definitive merger agreement under which OPKO will acquire Bio-Reference Laboratories. Bio-Reference Laboratories is the third largest full service clinical laboratory in the United States and is known for its innovative technological solutions and pioneering leadership in the areas of genomics and genetic sequencing. Under the terms of the agreement, which has been approved by the Boards of Directors of both companies, holders of BRLI common stock will receive 2.75 shares of OPKO common stock for each share of BRLI common stock. Based on a closing price of $19.12 per share of OPKO common stock on June 3, 2015, the transaction is valued at about $1.47 billion, or $52.58 per share of BRLI common stock. The Companies expect the transaction to be accomplished during the second half of 2015. Closing of the transaction is subject to approval of Bio-Reference Laboratories’ shareholders and other customary conditions.
OPKO intends to leverage the national marketing, sales, and distribution resources of Bio-Reference Laboratories to enhance sales of its 4Kscore test, a blood test that provides a patient’s specific personalized risk score for aggressive prostate cancer in addition to other OPKO diagnostic products under development.
OPKO Health, Inc., a biopharmaceutical and diagnostics company, engages in the discovery, development, and commercialization of novel and proprietary technologies in the United States and internationally. It operates through two segments, Pharmaceuticals and Diagnostics.
Shares of Broadcom Corp. (NASDAQ:BRCM), declined -0.73% to $54.22, during its last trading session.
Broadcom Corporation, introduced a family of integrated system-on-chip devices (SoCs) that add High Definition (HD) High Efficiency Video Coding (HEVC) for hybrid cable, direct broadcast satellite (DBS), terrestrial and IP set-top boxes (STBs). Broadcom’s new single-chip, pin-compatible devices enable operators and broadcasters in emerging markets to easily migrate to the latest, high-efficiency video compression standard, realizing up to 50 percent savings in video bandwidth. Broadcom will demonstrate its HEVC-enabled STB devices for emerging markets at Broadcast Asia in Singapore, June 2-5, 2015.
Broadcom’s new family of devices allow service providers in markets such as India, Latin America, Russia and Vietnam to have greater flexibility to deliver more competitive channel line-ups and improved content quality over their existing networks. The integration of HEVC also enables operators to deliver HD content more efficiently, upgrade content with vibrant 10-bit color and deliver higher frame rates for smoother high-motion sequences.
Broadcom Corporation provides semiconductor solutions for wired and wireless communications. Its products offer voice, video, data, and multimedia connectivity in the home, office, and mobile environments.
At the end of Thursday’s trade, Shares of Navistar International Corporation (NYSE:NAV), lost -8.35% to $24.82, hitting its lowest level.
Navistar International Corporation, declared a second quarter 2015 net loss of $64 million, or $0.78 per diluted share, contrast to a second quarter 2014 net loss of $297 million, or $3.65 per diluted share. Revenues in the quarter were $2.7 billion. Chargeouts in the company’s core markets (Class 6-8 trucks and buses in the United States and Canada) were up 38 percent over last quarter.
Second quarter 2015 EBITDA was $85 million as compared to an EBITDA loss of $119 million in the same period one year ago. The $204 million year-over-year improvement was driven by an enhance in truck segment sales, favorable product mix and the continuation of lower warranty expense and cost reductions. Preceding year results comprised of $149 million in asset impairment charges related to the company’s South American engine operations.
Second quarter 2015 adjusted EBITDA was $102 million contrast to $82 million in the second quarter of 2014. The second quarter comprised of one-time net charges of $17 million, contrast to one-time charges of $201 million in the second quarter of 2014.
The company was cash flow positive in the second quarter 2015 and finished the quarter with $784 million in manufacturing cash, cash equivalents and marketable securities.
Navistar International Corporation manufactures and sells commercial and military trucks, diesel engines, and school and commercial buses; and provides service parts for trucks and diesel engines worldwide. It operates through four segments: North America Truck, North America Parts, Global Operations, and Financial Services.
Finally, Lattice Semiconductor Corporation (NASDAQ:LSCC), ended its last trade with 2.52% surge, and closed at $6.51.
Meet with Silicon Image, a Lattice Semiconductor company, to see the latest advancements in smart connectivity technologies on:
- Monday, June 8, 2015 (10 a.m. – 7 p.m. PDT)
- Tuesday, June 9, 2015 (10 a.m. – 7 p.m. PDT)
- Wednesday, June 10, 2015 (10 a.m. – 6 p.m. PDT)
At Booth #1108, DAC 2015, Moscone Center, San Francisco, CA.
Lattice Semiconductor Corporation designs, develops, and markets programmable logic products and related software in Asia, Europe, and the Americas. It offers products based on field programmable gate arrays (FPGAs) and complex programmable logic devices (CPLDs) architectures.
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