Shares of Valeant Pharmaceuticals International (NYSE: VRX), a specialty pharmaceutical company engaged in the development, manufacturing and marketing of a range of pharmaceutical products, are soaring in early trading today.
At last check, VRX shares were trading 15.74% higher at $59.34 on volume of 977,927.
VRX shares are soaring after the company agreed to acquire Medicis Pharmaceutical Corp. (NYSE: MRX) for $44 per share in cash.
J. Michael Pearson, Chairman and CEO of Valeant Pharmaceuticals, said that the acquisition of MRX represents a significant next step in the company’s journey to become the leader in dermatology by strengthening its presence in acne, actinic keratosis, aesthetic injectables and anti-virals, among others.
MRX shares have also risen sharply in trading today. At last check, the stock was trading 37.93% higher at $43.53 on above average volume of 15.71 million.
Shares of Questcor Pharmaceuticals Inc. (NASDAQ: QCOR), a biopharmaceutical company, are soaring in early trading today.
At last check, QCOR shares were trading 7.88% higher at $46.88 on volume of 1.19 million. QCOR shares rose to an intra-day high of $49.63 in early trading today.
QCOR shares are soaring in trading today on news that the company can now start making on the prescriptions of H.P. Acthar Gel that it sells to Medicaid patients.
Shares of GameStop Corp. (NYSE: GME), a multichannel video game retailer, are up sharply in early trading today.
At last check, GME shares were trading 4.82% higher at $20 on volume of 570,073. The stock touched an intra-day high of $20.25 in trading today.
GME shares are gaining following a rating upgrade from Goldman Sachs. Analysts at Goldman Sachs upgraded GME shares from Hold to Buy rating, with a 12-month price target of $25.
Shares of Rovi Corporation (NASDAQ: ROVI), a Santa Clara, California-based company focused on powering the discovery and enjoyment of digital entertainment by providing a set of integrated solutions that are embedded in customers’ products and services and used by end consumers to simplify and guide their interaction with digital entertainment, are down sharply in early trading today.
At last check, ROVI shares were trading 2.28% lower at $15 on volume of 461,334.
ROVI shares are down even as the company announced that Cogeco Cable Canada Inc. has signed on to use Rovi Video to improve its subscriber services across platforms on set-top-boxes (STBs), mobile devices and on the web.
Bob Shallow, SVP, sales and marketing for Rovi Corp., said that the company is pleased that its entertainment data service, along with its guide technologies, will help Cogeco provide a quality experience in connecting consumers to content.
Shares of SouFun Holdings Limited (ADR) (NYSE: SFUN), operator of a real estate Internet portal in China, are soaring in early trading today.
At last check, SFUN shares were trading 4.28% higher at $13.16 on volume of 44,334. The stock touched an intra-day high of $13.37 in early trading today.
Last month, SFUN reported its second-quarter financial results. For the second quarter ended June 30, 2012, SFUN reported revenue of $97 million, representing an increase of 20.4% over the same period in the previous year. Operating income for the quarter was $47 million, representing an increase of 27.3% over the same period in the previous year. The company’s net income for the quarter was $32.3 million, or $0.40 per diluted share.
Recent Comments