UnitedHealth to Buy Catamaran for $13 B, Intel in Talks with Altera

Mukesh Buch
30 Mar, 2015
New York City

AAR net net swung to a loss. Cal-Maine profit surged. Intel is in talks to acquire Altera for about $10 billion. Horizon Pharma agreed to acquire Hyperion Therapeutics for $1.1 billion. UnitedHealth agreed to acquire Catamaran for about $12.8 billion.

[R]12:40 PM New York – AAR net net swung to a loss. Cal-Maine profit surged. Intel is in talks to acquire Altera for about $10 billion. Horizon Pharma agreed to acquire Hyperion Therapeutics for $1.1 billion. UnitedHealth agreed to acquire Catamaran for about $12.8 billion.[/R]

Tollbooth Index jumped 0.8% or 78.92 to 10,505.52.

Earnings Review

AAR Corp ((AIR)) declined 6% or $1.99 to $30.95 after the aircraft equipment and parts maker said net sales in the third-quarter ending in February dropped 4.9% to $380.1 million from a year ago period.

Net in the quarter swung to a loss of $34.5 million or 89 cents per diluted share compared to profit of $17.9 million or 45 cents from the same quarter last year.

Cal-Maine Foods Inc ((CALM)) dropped 2.8% or $1.09 to $37.99 after the poultry products distributor reported net sales in the third-quarter ending in February soared 10.6% to $437.6 million from a year ago period.

Net income in the quarter surged 18.6% to $50.9 million or $1.05 per diluted share compared to $42.9 million or 89 cents from the same quarter last year.

Breitburn Energy Partners LP slumped 4.1% or 24 cents to $5.66 after the oil and gas explorer will sell $350 million of convertible preferred units and $650 million of senior secured notes in private offerings to investment funds managed by EIG Global Energy Partners LLC and other investors.

These offerings are expected to close on April 8.

Intel Corporation ((INTL)) fell 17 cents to $31.87 after the personal computers processor maker is in talks to acquire rival chipmaker Altera Corp for about $10 billion, according to a Wall Street Journal report.

Horizon Pharma Plc ((HZNP)) surged 15.1% or $3.29 to $25.10 after the Ireland-based bio-pharmaceutical company agreed to acquire Hyperion Therapeutics, Inc for $46 per share in cash or $1.1 billion, to expand drug portfolio by adding two treatments for rare metabolic condition.

The transaction is expected to close in the second-quarter of this year.

The Madison Square Garden Co ((MSG)) soared 5.6% or $4.51 to $85.25 after the sports, entertainment and media group confirmed to spin-off its sports and entertainment business from its media business but retain its TV networks.

Teva Pharmaceutical Industries Ltd jumped 3.1% or $1.91 to $63.89 after the generic drug maker agreed to acquire Auspex Pharmaceuticals, Inc for $3.2 billion or $101 a share.

UnitedHealth Group Inc ((UNH)) jumped 2.2% or $2.56 to $120.58 after the diversified healthcare company agreed to acquire Catamaran Corp in a deal worth about $12.8 billion in cash.

UnitedHealth''s offer $61.50 per share represents a premium of 27% to the closing price of Catamaran''s stock on Friday.

The transaction is expected to close in the fourth-quarter of 2015.