Bristol-Myers, Celgene Rise; AIG, Oracle Fall

Mayank Mehta
07 Jun, 2010
New York City

Bristol-Myers Squibb Company led gainers in the S&P 500 index with a rise of 6.6%. Grifols agrees to acquire Talecris Biotherapeutics for creating plasma protein therapies. Vivus announces positive results from phase-3 study related erectile dysfunction in diabetic patients.

[R]11:00 AM New York - Bristol-Myers Squibb Company led gainers in the S&P 500 index with a rise of 6.6%. Grifols agrees to acquire Talecris Biotherapeutics for creating plasma protein therapies. Vivus announces positive results from phase-3 study related erectile dysfunction in diabetic patients.[/R]

Of the stocks in S&P 500 index, 209 increased, 282 declined and 9 were unchanged.

CVS Caremark Corporation led the decliners in the S&P 500 index with a loss of 9.4% followed by losses in Frontier Communications Corporation of 4.4% and in Walgreen Co. of 3.9%, in Harman International Industries, Incorporated of 3.2% and in Southwest Airlines Co. of 2.9%.

Bristol-Myers Squibb Company led gainers in the S&P 500 index with a rise of 6.6% followed by gains in Celgene Corporation of 4.4%, in Sprint Nextel Corporation of 3.1% and in Medco Health Solutions, Inc. of 2.9%.

Other Movers

American International Group, Inc. ((AIG)), the insurer fell 0.7% or 25 cents to $34.50.

Ancestry.com Inc. ((ACOM)), the online provider of family histories dropped 5.4% or 94 cents to $16.26.

ATA Inc. ((ATAI)) rose 1.8% or 6 cents to $3.36 after the computer-based testing services provider reported fourth quarter revenues rose 59% to Rmb 47.2 million from Rmb 29.7 million a year ago. Net loss in the quarter was Rmb 38.1 million or Rmb 1.72 per ADS compared to net loss of Rmb 11.9 million or Rmb 0.52 per ADS a year ago.

Bristol-Myers Squibb Company ((BMY)) increased 6.9% or $1.56 to $24.00 after the drugmaker was upgraded to “buy” from “neutral” at Goldman Sachs Group Inc.

Boston Private Financial Holdings, Inc. ((BPFH)) plunged 10.9% or 81 cents to $6.62 after the bank announced that it has filed a registration statement for a proposed underwritten public offering of up to $40 million of its common stock.

Cabela’s Incorporated ((CAB)), the hunting and outdoor equipment retailer fell 5.1% or 86 cents to $15.80.

CenturyTel, Inc. ((CTL)), the phone company fell 1.3% or 45 cents to $33.76.

Emerson Electric Co. ((EMR)), the electrical products maker fell 4.8% or $2.31 to $44.97.

G-III Apparel Group, Ltd. ((GIII)) added 2.7% or 75 cents to $28.35 after the dress and sportswear maker reported first quarter sales rose 43.4% to $154.3 million from $107.6 million a year ago. Net loss in the quarter was $1.4 million or 7 cents per diluted share compared to net loss of $6.8 million or 41 cents per share a year ago.

Oracle Corporation ((ORCL)), the software maker fell 3.1% or 71 cents to $22.13.

Sprint Nextel Corporation ((S)), the mobile-phone carrier rose 2.7% or 13 cents to $4.91.

Talecris Biotherapeutics Holdings Corp. ((TLCR)) surged 49.8% or $7.94 to $23.85 after the global healthcare company and producer of plasma protein therapies announced today that they have signed an agreement through which Grifols will acquire Talecris for a combination of cash and stocks valued approximately at $3.4 billion or €2.8 billion.

Texas Instruments Incorporated ((TXN)), the chipmaker rose 0.09% or 2 cents to $24.20.

Vivus, Inc. ((VVUS)) climbed 3.2% or 40 cents to $12.75 after the drugmaker today announced positive results from the phase 3 REVIVE-Diabetes (TA-302) study, evaluating the safety and efficacy of the investigational drug avanafil for the treatment of erectile dysfunction (ED) in men with type 1 and type 2 diabetes.