Shares of Elan Corporation Plc (ADR) (NYSE: ELN), a neuroscience-based biotechnology company, are soaring in trading today after the company received a takeover offer from Royalty Pharma.
Royalty Pharma, which is an investment firm, has offered to acquire Elan for $6.6 billion. The investment firm has offered $11 per share to ELN, which represents a 4% premium to the stock’s closing price on Friday.
ELN shares rose to an intra-day high of $11.62 earlier today. At last check, the stock was trading 8.77% higher at $11.53 on volume of 1.25 million. ELN shares have gained more than 11% in the last three trading sessions.
Shares of 3D Systems Corporation (NYSE: DDD), a provider of three-dimensional (3D) content-to-print solutions, are sinking in trading today after the company reported its fourth-quarter and full-year 2012 financial results.
For the fourth quarter, DDD reported non-GAAP earnings of $0.39 per share. On a GAAP-basis, the company’s earnings for the quarter were $0.19 per share. Revenue for the fourth quarter rose 45.4% to $101.6 million, driven by a 93% increase in printers’ and other products revenue. For 2013, the company expects revenue to be between $440 million and $485 million. Non-GAAP earnings for 2013 are expected to be between $1 per share and $1.15 per share.
DDD shares fell to an intra-day low of $32.26 earlier today. At last check, the stock was trading 16.82% lower at $31.58 on volume of 701,647.
Shares of Hertz Global Holdings Inc. (NYSE: HTZ), a car rental and leasing company, are rallying in trading today after the company reported its fourth-quarter financial results and gave a robust outlook for 2013.
For the fourth quarter, the company reported net loss of $36.4 million, or $0.09 per share, compared to net income of $52.1 million, or $0.11 per share reported for the same period in the previous year. Excluding one-time items, Hertz reported earnings of $0.33 per share for the quarter, beating consensus forecast of $0.31 per share. Revenue for the quarter was up 15% to $2.3 billion. Analysts had forecast fourth-quarter revenue at $2.27 billion.
For 2013, Hertz forecast earnings of $1.82 per share to $1.92 per share and revenue of $10.85 billion to $10.95 billion.
HTZ shares rose to a 52-week high of $20.37 earlier today. At last check, the stock was trading 7.37% higher at $20.11 on volume of 1.46 million.
Shares of Dillard’s Inc. (NYSE: DDS), a fashion apparel, cosmetics and home furnishing retailer, have plunged in trading today after the company reported its fourth-quarter financial results. The company’s fourth-quarter results missed analysts’ estimates. For the quarter, the company reported adjusted net income of $2.87 per share, which was $0.02 below the consensus forecast.
DDS shares fell to an intra-day low of $76.29 earlier today. At last check, the stock was trading 9.92% lower at $76.50 on volume of 195,393. Year-to-date, DDS shares have fallen more than 7.7%, compared to a gain of more than 6.7% for the S&P 500 in the same period.
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