Stock Market Watch

Novartis to Sell US Derma Business, Oral Solids Portfolio to Aurobindo for Up to $1 Billion

September 6, 2018 at 8:54 am

Swiss drugmaker Novartis (NOVN.SW, NVS) has agreed to sell portions of its Sandoz US portfolio to Aurobindo Pharma USA for up to $1 billion as it seeks to focus the Sandoz division on higher growth areas. The company said on Thursday that it will divest the Sandoz US dermatology business and generic US oral solids portfolio to Aurobindo Pharma USARead More

Verint Systems Shares Jump as Second Quarter Results Beat Expectations

September 6, 2018 at 8:52 am

Shares in Verint Systems (VRNT), a supplier of security intelligence solutions, surged in post-market trading after the firm said late on Wednesday that its focus on “actionable intelligence innovation” had underpinned revenues and adjusted earnings in its fiscal second quarter which beat analysts’ expectations. Group sales rose to $306.3 million in the three months to July 31, from $274.8 millionRead More

Lilly Spinoff Elanco Animal Health Seeks to Raise $1.45 Billion in Initial Public Offering

September 6, 2018 at 8:51 am

Eli Lilly and Company (LLY) spinoff Elanco Animal Health Inc. said in a regulatory filing on Thursday that it will raise up to $1.45 billion in its initial public offering. The company said in a filing with the Securities and Exchange Commission that it will offer 62.9 million shares of common stock for $20 to $23 per unit under theRead More

US Treasuries Little Change, Trade Near Bottom of Wednesday’s Range

September 6, 2018 at 8:48 am

US Treasuries were little changed and traded near the bottom of Wednesday’s range, dealers said. One shop’s informal poll shows investors split on the next move in 10Ys; either rising to 3.00% or dropping to 2.80%, while several are not looking for a break of the summer range of 2.97% to 2.82%. Thursday’s volatility for the 10Y is in aRead More

US Equity Futures Trade Sideways; Asia Sloppy Overnight, Jones Trading Says

September 6, 2018 at 7:49 am

US equity futures were drifting sideways early Thursday, as traders awaited headers on the next round of tariffs on $200 billion of Chinese imports, said Dave Lutz, head of ETFs at Jones Trading. The Nasdaq led to the downside for the second-straight day as a regulatory storm brewed. Over in Europe, the DAX attempted to shrug off a five-day slideRead More