Pfizer to Buy Medivation for $14B, Boost Cancer Franchise (revised)
Putting rumors to rest, Pfizer Inc. (PFE - Analyst Report) and Medivation, Inc. (MDVN - Analyst Report) announced that they have entered into a definitive merger agreement under which Pfizer will acquire Medivation for $81.50 per share in cash or a total enterprise value of about $14 billion.The acquisition, slated to close in the third or fourth quarter, is expected to be immediately accretive to Pfizer’s earnings – earnings is expected to be boosted by about 5 cents in the first full ye..>> view originalToll Brothers revenue beats estimates on higher home sales
Toll Brothers Inc (TOL.N) reported a rise in revenue for the fourth straight quarter, beating analysts' estimates, as it sold more luxury homes at higher prices, suggesting a steady growth in the U.S. housing market.Orders, a key metric of future revenue for homebuilders, rose 18.2 percent to 1,748 units in the third quarter, its highest growth in two years.It also raised the lower end of its average selling price forecast for the year ending Oct. 31 to $840,000 from $820,000, maintaining the ..>> view originalClinton to Offer Plan for Small Businesses
Democratic presidential nominee Hillary Clinton is proposing a package of ideas aimed at helping small businesses, including a new standard deduction that could simplify tax filing and improvements to a little-used tax credit for companies that offer workers health insurance. Mrs. Clinton also would let small businesses immediately deduct up to $1 million in capital expenses against their taxes. The current limit is $500,000....>> view originalDelphi, Mobileye Join Forces to Develop Self-Drive System
Top auto-parts suppliers Delphi Automotive PLC and Mobileye NV are joining forces to develop a fully autonomous driving system that car makers could begin placing in their vehicles beginning in 2019. The two hope the development partnership will produce off-the-shelf systems for everything from small cars to sport utilities and pickup trucks—and help them carve out a central role in the race to supply technology for driverless...>> view originalstocks creep up amid Fed limbo, dollar dips
LONDON World shares crept up on Tuesday while the dollar lost ground as investors awaited further clues on whether the Federal Reserve will raise U.S. interest rates this year.European equities were 0.5 percent higher led by mining and banking stocks [.EU] after data that pointed to a gradual improvement in the region's economy ECONG7. The euro EUR= also posted gains. [/FRX] Early encouragement came from France where surprisingly upbeat PMI figures showed the private sector growing at its fas..>> view originalSpeedo, three other sponsors drop Ryan Lochte
US Olympic swimmer Ryan Lochte lost his first major endorsement after a false tale of robbery. USA TODAYRio police said U.S. swimmer Ryan Lochte lied about being held up at gunpoint Sunday morning.(Photo: Peter Casey, USA TODAY Sports)Speedo was the first, announcing early Monday it dropped its sponsorship of embattled U.S. swimmer Ryan Lochte. By the end of the day, three other companies also said they would cut ties with him.The decisions to cut ties with Lochte come after a week-lon..>> view originalTableau names ex-Amazon exec as its new CEO
The Seattle data-visualization company appoints Adam Selipsky to take the place of co-founder Christian Chabot, who is stepping aside but will remain at the company as chairman. Longtime Tableau leader Christian Chabot is stepping aside from the chief-executive role amid the company’s push to bring in larger business clients and expand its cloud-computing products. The business-analytics company has tapped cloud-technology powerhouse Adam Selipsky, former chief operating officer of Amazon Web S..>> view originalLyft president: We were never looking to sell our business and we're not for sale
Lyft President John Zimmer. Getty Images Lyft President John Zimmer blasted reports that the ride-hailing company is shopping itself around, disputing a series of recent news stories saying that Lyft had failed to find a buyer after talking to six different companies. "Lyft is not seeking a buyer," Zimmer told Business Insider. "Getting approached and then having it characterized as us wanting to sell the business and failing to do so is a large mischaracteriza..>> view originalEuro zone business growth stable in August, France surprises upwards
LONDON Surprisingly strong growth in France supported stable euro zone private business activity during August but factories could face a tougher September as new order growth stumbled, surveys showed on Tuesday.Muddying the outlook for the coming months is the United Kingdom's vote in late June to leave the European Union, although so far the economic repercussions seem to have been confined to Britain, not its main trading partner."August' s slight rise in the euro zone Composite Purchasing ..>> view originalVW and Suppliers Settle Their Dispute After Marathon Talks
Volkswagen vlkay and two of its parts suppliers on Tuesday resolved a contract dispute that had hit output at more than half of the carmaker’s German plants and threatened to undermine its recovery from a diesel emissions scandal. After more than 20 hours of negotiations that went on through the night, VW said it had had settled its differences with CarTrim, which makes seats, and ES Automobilguss, which produces cast iron parts needed to make gearboxes, but gave no further details. The ..>> view original
Tuesday, August 23, 2016
Pfizer to Buy Medivation for $14B, Boost Cancer Franchise (revised) and other top stories.
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