Specialty drugmaker Horizon Pharma (HZNP) raised its unsolicited offer for Depomed (DEPO) Wednesday, sending both stocks up. Horizon proposed a deal worth $33 a share, all in Horizon stock, up from its earlier bid of $29.25, which Depomed rejected. The market seemed to anticipate such a move, since Depomed was already at 32.73 at Monday’s close, and in fact last week Roth Capital analyst Scott Henry raised his price target on Depomed to 33
Verizon Communications (VZ) stock fell after the No. 1 telecom firm reported mixed Q2 earnings early Tuesday, adding fewer FiOS TV and broadband customers than expected. The wireless services leader also saw its ARPA, or average monthly revenue per account, slide amid intensified price competition with AT&T (T), T-Mobile US (TMUS) and Sprint (S). Verizon also lowered its outlook, now saying it expects 3% consolidated revenue growth in 2015, down
F5 Networks’ (FFIV) earnings and revenue growth are expected to slow in fiscal Q3 as analysts await commentary from new CEO Manny Rivelo on the company’s earnings conference call. Seattle-based F5 is slated to report June-quarter earnings after the market close Wednesday. The data center gear maker is expected to earn $1.59 per share, up 15% from the year-earlier quarter, with revenue rising 9% to $481 million. In the June 2014 quarter, revenue