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U.S. Movers: Boeing, Bristol-Myers Squibb, Jack In The Box, WellCare Health

Author: Mukesh Buch
Last Update: 12:42 PM EST December 17 2018

12:40 PM New York City, New York – The Boeing agreed to acquire 80% stake in Brazil-based Embraer for $5.3 billion. Japan-based Taisho Pharmaceutical plans to buy Bristol-Myers Squibb’s French over-the-counter drug business for $1.6 billion. WellCare lowered fiscal 2019 outlook.

Tollbooth Index declined 274.06 or 1.9% to 14,457.79 but for the year-to-date advanced 5.1%.

Earnings Review

The Boeing Company (BA) gained $1.41 to $320.10 after the airplanes, rockets, satellites and missiles maker agreed to acquire 80% stake in Brazil-based plane maker Embraer SA for about $5.26 billion.

The transaction is expected to close by the end of the 2019.

Bristol-Myers Squibb Company (BMY) rose 23 cents to $52.34 after Bloomberg said Japan-based healthcare products maker Taisho Pharmaceutical Holdings Co Ltd has agreed to buy Bristol-Myers Squibb’s France-based over-the-counter drugs business UPSA for about $1.6 billion.

Jack In The Box Inc (JACK) jumped 3.9% or $3.15 to $83.48 after the fast-food restaurant operator was exploring strategic and financing alternatives to maximize shareholder value but it had not set a deadline to conclude the process.

WellCare Health Plans, Inc (WCG) dropped 2.9% or $6.95 to $229.91 after the government-sponsored health care services provider lifted fiscal 2019 total revenues forecastbetween $25.8 billion and $26.7 billion from the earlier estimate of $20 billion and $20.3 billion and diluted earnings per share in the range of $13.15 to $13.40 from the earlier estimate of $10.90 to $11.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc