On Monday, Shares of Micron Technology, Inc. (NASDAQ:MU), gained 1.59% to $17.22, hitting its lowest level.
Micron Technology was downgraded at Wedbush Securities, which cited concerns that supply-and-dynamics for dynamic random-access memory (DRAM) isn’t likely to improve. Analyst Betsy Van Hees cut her rating to neutral from outperform and slashed her stock price target to $19, which is 12% above Friday’s closing price, from $26, according to Market Watch.
Micron Technology, Inc., together with its auxiliaries, provides semiconductor solutions worldwide. The company manufactures and markets dynamic random access memory (DRAM), NAND flash, and NOR flash memory products; and packaging solutions and semiconductor systems.
Shares of Mylan N.V. (NASDAQ:MYL), inclined 2.08% to $55.49, during its last trading session.
On behalf of funds that it manages, Paulson & Co. voted all of its 21.9 million Mylan (MYL) shares in support of the projected merger with Perrigo (PRGO).
John Paulson, President of Paulson & Co., said “The combination of Mylan’s unparalleled generic capabilities with Perrigo’s attractive OTC platform would create a global pharmaceutical powerhouse. The combined company will benefit from the growth in generics and OTC plus the migration of generics to OTC for many years to come. Mylan administration has a successful track record of integrating acquisitions. The transaction is predictable to be accretive based on cost synergies alone and likely meaningfully accretive when revenue synergies are taken into account.”
Mylan N.V., through its auxiliaries, develops, licenses, manufactures, markets, and distributes generic, branded generic, and specialty pharmaceuticals worldwide. The company provides generic or branded generic pharmaceutical products in tablet, capsule, injectable, or transdermal patch forms, in addition to active pharmaceutical ingredients (APIs).
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