Having poured billions of dollars into its Prime membership business, Amazon.com (AMZN) on Wednesday is holding a one-day sales event that is more about its competitors than its customers. Called Prime Day, Amazon says the global shopping event will offer more product discounts than Black Friday, regarded as the beginning of the holiday shopping season. But there is a catch: To get in on the Prime Day goodies, shoppers need to be Amazon Prime
Celgene (CELG) late Tuesday said it will pay $232 a share in cash for Receptos (RCPT), and announced strong Q2 earnings and sales figures. The biotech giant said the deal “significantly enhances Celgene’s inflammation & immunology portfolio,” Receptos, which is developing treatments for multiple sclerosis and ulcerative-colitis, rose 10.2% to 228.25 in after-hours action after being halted on the deal announcement. The stock had closed up 5.1% to
As Apple readies its June quarter report, Wall Street analysts are doing last-minute tweaks to their estimates. On Tuesday, FBR Capital Markets analyst Daniel Ives raised his sales and earnings estimates for Apple for the quarter, full year and next year. Apple is scheduled to report fiscal third-quarter results after the market close on July 21. Ives increased his sales and earnings estimates for Apple on rising expectations for the company’s core iPhone business. For the June quarter, Ives raised his sales and earnings-per-share estimates to $49.2 billion and $1.79, respectively, from his prior targets of $47.8 billion and $1.72. For fiscal 2015, which ends Sept. 26, he raised his sales and EPS estimates for Apple (AAPL) to $233.3 billion and $9.06, respectively, from $230.3 billion and $8.93. For fiscal 2016, he increased his sales and EPS forecasts to $250.1 billion and $9.69, respectively, from $247.1 billion and $9.58. Ives …