Specialty drugmaker Forest Laboratories (FRX) agreed to pay $1.1 billion in cash for smaller counterpart Furiex Pharmaceuticals (FURX) Monday, sending the latter’s stock up more than 30% in midday trading on the stock market today. Forest, which is itself in the process of being bought by Actavis (ACT), will pay $95 a share, a 19% premium to Friday’s closing price. Forest also agreed to pay up to $30 a share, or $360 million, depending on how
Drugmaker Actavis (ACT) beat analysts’ Q4 estimates on both the top and bottom lines Thursday, and affirmed its 2014 guidance pending the completion of its buyout of Forest Laboratories (FRX). The stock was up 3% in morning trading on the stock market today and touched an all-time high for the third straight day, above 218. The stock is extended after a 166.42 breakout in early December from a three-weeks tight pattern and ranks No. 8 on the
With the market in correction, it’s a good time to hone stock watch lists and find companies such as Forrest Laboratories (FRX) and New Oriental Education & Technology (EDU) that soundly top earnings estimates. Today’s Screen Of The Day is Estimate Beaters, stocks that beat earnings-per-share estimates by the widest margin in the latest reported quarter, sorted by percentage change. The list includes Forrest Labs and New Oriental Education,which