On Friday, Shares of Abbott Laboratories (NYSE:ABT), lost -0.10% to $49.89.
Abbott Laboratories, confirmed its continued support for Mylan N.V’s growth strategy by stating its intent to vote its 14.5 percent stake in Mylan in favor of Mylan’s projected acquisition of Perrigo.
“We chose Mylan to acquire our developed markets branded generics pharmaceuticals because its scale and breadth across critical distribution channels, broad and diverse portfolio, and commitment to patients and product quality strongly positions it for success in the years to come,” said Miles D. White, chairman and chief executive officer, Abbott. “As both Mylan’s largest shareholder and its partner through our continued manufacturing relationships, Abbott has considered the entire situation and we believe Mylan’s standalone strategy and acquisition of Perrigo will further enhance its platform, is plannedally compelling, value enhancing for shareholders, and offers a clear path to completion. In light of these factors, we will be voting in favor of the Perrigo transaction.”
Abbott Laboratories manufactures and sells health care products worldwide. Its Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome; intrahepatic cholestasis or depressive symptoms; gynecological disorders; dyslipidemia; hypertension; hypothyroidism; pain, fever, and inflammation; hormone replacement therapy; anti-infective and influenza vaccines; and product that regulates physiological rhythm of the colon.
Shares of MGM Resorts International (NYSE:MGM), remained flat at $19.50, during its last trading session.
MGM Resorts International, honors the memory of Kirk (Kirkor) Kerkorian, the company’s founder, who passed away on June 15. On June 6, he had turned 98.
Mr. Kerkorian was a quiet but powerful force behind the transformation of the Las Vegas Strip into one of the world’s most popular tourist destinations, through the development of the International, MGM and MGM Grand. He was also a generous humanitarian who donated hundreds of millions of dollars to charities worldwide.
Mr. Kerkorian owned Beverly Hills-based Tracinda Corporation, a private investment firm. He was a founding member of the Board of Directors of MGM Resorts, and had served with distinction as Director Emeritus since 2011.
He is survived by two daughters, Tracy Kerkorian and Linda Ross Hilton Kemper, and three grandchildren. He is preceded in death by his parents, Ahron and Lily Kerkorian.
MGM Resorts International, through its auxiliaries, owns and/or operates casino resorts. It operates through two segments, Wholly Owned Domestic Resorts and MGM China. The company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
Finally, Globalstar Inc. (NYSEMKT:GSAT), ended its last trade with 3.10% gain, and closed at $2.33.
Globalstar, declared that Lockheed Martin Flight Service (LMFS) will integrate and provide automated position monitoring for VFR (Visual Flight Rules) flights.
Using a SPOT Gen3(R) or a SPOT Trace(R), GPS tracking reports are generated and forwarded to LMFS. The system keeps track of the aircraft and if the aircraft stops moving or stops sending position reports, an alarm is triggered right away at LMFS. The aircraft’s most recent GPS coordinates are accessible to be forwarded to Search and Rescue (SAR) authorities, significantly narrowing the search radius and providing faster SAR response.
The SPOT Gen3 also features an SOS button that can send an instant distress message together with GPS position information to GEOS International Emergency Response Coordination Center, right away initiating SAR operations.
For a limited time this summer, SPOT units are 50% off. SPOT Gen3 can presently be purchased for $74.99 after rebate, with basic service plans starting at $14.99/month or $149.99/year. SPOT Trace can presently be purchased for $49.99, with basic service plans starting at $9.99/month or $99.99/year.
Globalstar, Inc. provides mobile voice and data communications services through satellite worldwide. The company offers duplex two-way voice and data products, counting mobile voice and data satellite communications services and equipment for remote business continuity, recreational, emergency response, and other applications; fixed voice and data satellite communications services and equipment in rural villages, ships, industrial and commercial sites, and residential sites; and satellite data modem services comprising asynchronous and packet data services.
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