U.S. stocks oscillated amid economic data following shareholders await a monthly jobs report Friday. European equities advanced and the euro destabilized to an 11-year low as the region’s central bank revealed details of its incentive plan.
Deals lifted U.S. equities Thursday, folllowing Pharmacyclics surged after AbbVie agreed to buy the drugmaker in a $21 billion deal. AbbVie fell 3.2 percent. Mallinckrodt Plc climbed 4.3 percent after buying closely-held Ikaria Inc. for about $2.3 billion.
Insights about U.S. Stocks that are active during the current trade, are depicted underneath:
Boston Scientific Corporation (NYSE:BSX)’s shares picked up 0.57%, and is now trading at $16.89. The Stock is active as 4.30M shares changed hands versus its average volume of 14.11M shares.
Boston Scientific Corporation (BSX), declares the election of Charles J. Dockendorff and Stephen P. MacMillan to its board of directors, effective April 1, 2015. Two current members of the board, Uwe E. Reinhardt and Bruce L. Byrnes, will not stand for re-election at the corporation’s annual meeting of stockholders in May 2015.
Charles J. Dockendorff was formerly the executive vice president and chief financial officer of Covidien plc. Mr. Dockendorff presently serves on the board of directors of Haemonetics Corporation and Keysight Technologies. He received his B.A. in Business Administration and Accounting from the University of Massachusetts at Amherst and received his Master of Science in Finance from Bentley College.
Stephen P. MacMillan is presently the president and chief executive officer of Hologic, a leading global healthcare and diagnostics corporation. Formerly, Mr. MacMillan served as president and chief executive officer of Stryker Corporation. He presently serves on the board of directors of Alere Inc. Mr. MacMillan received a Bachelor of Arts degree in Economics from Davidson College and is a graduate of Harvard Business School’s Advanced Administration Program.
“We are thankful for the guidance and years of dedicated service that Dr. Reinhardt and Mr. Byrnes contributed to Boston Scientific, and we are happy to welcome Mr. Dockendorff and Mr. MacMillan to our board,” said Pete Nicholas, chairman of the board, Boston Scientific Corporation. “Their extensive experience and administration insights will be valuable additions as we continue to deliver meaningful innovation to address the unmet needs of patients around the world.”
Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 35 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare.
Lexicon Pharmaceuticals, Inc (NASDAQ:LXRX) raised 3.33%, and is now trading at $1.08. The Stock is active as 3.57M shares changed hands versus its average volume of 1.58M shares.
Lexicon Pharmaceuticals, Inc. (LXRX), a biopharmaceutical corporation focused on developing breakthrough treatments for human disease, updated its drug development progress and stated financial results for the three months and year ended December 31, 2014.
“We enter 2015 in a strong financial position to develop our two lead drug candidates, telotristat etiprate and sotagliflozin,” said Lonnel Coats, Lexicon’s president and chief executive officer. “This year will be key for Lexicon as we complete a pivotal Phase 3 trial of telotristat etiprate in patients with carcinoid syndrome and initiate Phase 3 trials for sotagliflozin in patients with type 1 diabetes.”
In October 2014, Lexicon accomplished a partnership contract with Ipsen Pharma SAS for the commercialization of telotristat etiprate, with a focus on carcinoid syndrome, in markets outside the United States, Canada and Japan. Under the contract, Lexicon is eligible to receive up to about $145 million in aggregate upfront and milestone payments, counting an upfront payment of $23 million. In addition, Lexicon is entitled to receive royalties on net sales of telotristat etiprate by Ipsen.
Also in the fourth quarter of 2014, Lexicon accomplished concurrent debt and equity financings that resulted in gross proceeds of $293.4 million. After fees and offering expenses, the financings resulted in net proceeds of $286.0 million and are reflected in the corporation’s financial results as of December 31, 2014. In the aggregate, the financings comprised of the issuance of about 204.9 million shares of ordinary stock, with gross proceeds of $205.9 million, and $87.5 million in aggregate principal amount of 5.25% convertible senior notes due 2021.
Lexicon is a biopharmaceutical corporation focused on developing breakthrough treatments for human disease. Lexicon has clinical-stage drug programs for diabetes, carcinoid syndrome, and other indications, all of which were discovered by Lexicon’s research team. Lexicon has used its proprietary gene knockout technology to identify more than 100 promising drug targets.
Sunedison Inc (NYSE:SUNE), enhanced 2.72 %, and is now trading at $23.01. The Stock is active as 4.15M shares changed hands versus its average volume of 10.73M shares.
Today, SunEdison, Inc. (SUNE), the world’s largest renewable energy development corporation, and Solar Grid Storage LLC, a leader in deploying combined energy storage and solar PV systems, declared that SunEdison has attained the energy storage project origination team, project pipeline, and subject to customary consents and assignments, four operating storage projects from Solar Grid Storage. SunEdison now offers battery storage solutions to complement solar and wind projects worldwide, providing solutions that can benefit utilities, municipalities, businesses, and consumers alike.
The growth in the energy storage market is being driven by commercial and municipal customers who are interested in both immediate energy savings from solar and emergency back-up power from storage, and by electricity grid operators, who place a high value on storage for its ability to make the grid more resilient and less susceptible to failure. Renewable generation-plus-storage has proven to be a cost-effective way of integrating renewable energy such as solar and wind into the grid.
“Solar Grid Storage is unique in the storage industry in that we approach storage from a solar perspective. Understanding the core solar customer value proposition, in addition to the ways that energy storage can add customer benefits and economic value to solar projects, enables us to deliver renewable energy projects that are more valuable for both customers and grid operators,” said Tom Leyden, Chief Executive Officer of Solar Grid Storage. “Becoming a part of SunEdison, a renewable energy market leader with a strong pipeline of customers and development projects, positions us incredibly well to accelerate our growth and integrate energy storage with renewables to assist create the electricity grid of the future.”
SunEdison is the world’s largest renewable energy development corporation and is transforming the way energy is generated, distributed, and owned around the globe. The corporation manufactures solar technology and develops, finances, installs, owns and operates wind and solar power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers.
Johnson & Johnson (NYSE:JNJ), enhanced 0.66%, and is now trading at $102.33. The Stock is active as 4.13M shares changed hands versus its average volume of 9.70M shares.
Johnson & Johnson (JNJ), declared a binding offer from Cardinal Health to attain its Cordis business for an aggregate value of $1.99 billion, comprising of $1.944 billion of cash proceeds from Cardinal Health plus about $46 million of retained net receivables. Cordis is a leader in the development and manufacture of interventional vascular technology with 2014 net proceeds of about $780 million.
The acceptance period for the offer will end on May 30, 2015, unless extended, and during that time consultations with relevant works councils and trade unions are planned. If the offer is accepted, the projected transaction would be predictable to close towards the end of 2015, subject to customary closing conditions and regulatory approvals. The corporation will further talk about the transaction during its next quarterly earnings call on April 14, 2015.
Johnson & Johnson remains committed to the fight against cardiovascular disease through its fast-growing electrophysiology business, Biosense Webster, in the Medical Devices segment and its leading cardiovascular medicine, XARELTO®, in the Pharmaceutical segment.
Caring for the world, one person at a time, inspires and unites the people of Johnson & Johnson. We embrace research and science – bringing innovative ideas, products and services to advance the health and well-being of people. Our about 126,500 employees at more than 265 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.
