Market Wrap 4/23: Netflix Net-'fails'; Markets React to Europe; Merger Monday!; Potent Potables
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Market wrap-up for April 23rd
End of the Day: Doe Jones down 102.1 to 12,927.17; Nasdaq down 30.0 to 2,970.5; S&P 500 down 11.6 to 1,366.94
The following is a brief summary of events moving markets today:
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End of the Day: Doe Jones down 102.1 to 12,927.17; Nasdaq down 30.0 to 2,970.5; S&P 500 down 11.6 to 1,366.94
The following is a brief summary of events moving markets today:
- This time, its not Greece: U.S. markets finished Monday lower following data out of Europe. Preliminary purchasing managers' index data showed a slip from 49.1 in March to 47.4 in April.
Dutch Prime Minister Mark Rutte resigned his position following disagreements surrounding collapse of austerity discussions in Holland. Notably, the Dutch were supporters of Germany's goal of fiscal discipline in the euro area.
- All you have to do is drop it in the mail. Or from your portfolio: Netflix (Nasdaq: NFLX) reported first-quarter revs of $870 million and a loss of 8 cents per share, compared with views calling for revs of $868.1 million and a loss of 27 cents per share. Amid the beat, investors concerns lay within guidance showing slowing subscriber growth. For more color on the report, click here.
- Just another manic merger Monday:
- Pfizer (NYSE: PFE) entered into an agreement to divest its Nutrition business to Nestlé for $11.85 billion in cash.
- AstraZeneca (NYSE: AZN) and Ardea Biosciences, Inc. (Nasdaq: RDEA) entered into a definitive merger agreement, pursuant to which AstraZeneca will acquire Ardea. Under the terms of the agreement, AstraZeneca will acquire Ardea for $32 per share which represents a total cash value of approximately $1.26 billion.
- Thomson Reuters (NYSE: TRI) entered a definitive agreement to sell its Healthcare unit to Veritas for $1.25 billion.
- Nabi Biopharmaceuticals (Nasdaq: NABI) announced a merger with Melbourne, Australia-based Biota Holdings Limited.
- Beam Inc. (NYSE: BEAM) entered a definitive agreement to acquire Pinnacle Vodka maker White Rock Distilleries for $605 million.
For more breaking M&A news as it happens, click here.
- Pfizer (NYSE: PFE) entered into an agreement to divest its Nutrition business to Nestlé for $11.85 billion in cash.
- Oh, those unclaimed policies!: MetLife (NYSE: MET) is said to be paying $40 million in settlement fees and costs from a multi-state regulatory probe. The probe was aimed at improving MetLife's system of identifying unclaimed policies.
Florida sees about $500 million being returned to holders.
- With the faith of a mustard seed: JANA Partners showed a new 6,959,359 common stake in Barnes & Noble (NYSE: BKS), which amounts to about 11.6 percent of all outstanding common shares. Following the disclosure, Barnes & Noble stock closed well over 18 percent better on the session.
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