AIG Acquires Validus for $5.6 B, Celgene in $9 B deal with Juno Therapeutics

Mukesh Buch
22 Jan, 2018
New York City

AIG agreed to acquire Validus for $5.56 billion. Celgene agreed to buy smaller rival Juno Therapeutics for $9 billion. Halliburton beats on fourth-quarter profit. Ingersoll-Rand acquired the U.K.-based ICS Group.

[R]11:50 AM New York City, New York – AIG agreed to acquire Validus for $5.56 billion. Celgene agreed to buy smaller rival Juno Therapeutics for $9 billion. Halliburton beats on fourth-quarter profit. Ingersoll-Rand acquired the U.K.-based ICS Group.[/R]

Tollbooth Index increased 30.54 or 0.3% to 14,669.24.

Earnings Review

American International Group Inc ((AIG)) slipped 61 cents to $60.95 after the insurance services provider agreed to acquire Bermuda-based insurer and reinsurer Validus Holdings Ltd to for about $5.56 billion in cash.

The transaction is expected to close in mid-2018.

Celgene Corp ((CELG)) fell 77 cents to $101.99 after the biopharmaceutical products maker agreed to acquire smaller rival Juno Therapeutics Inc for about $87 per share in cash or total consideration of $9 billion.

The transaction is expected to close during the first-quarter of this year.

Juno Therapeutics Inc stock surged 26.8% to $86.01.

Halliburton Company ((HAL)) jumped 3.5% or $1.86 to $54.87 after the oil and gas services provider reported total revenues in the fourth-quarter ending in December surged 47.5% from a year ago to $5.9 billion.

Net loss in the quarter widened to $824 million or 94 cents per diluted share from $149 million or 17 cents in the same quarter last year.

Ingersoll-Rand Plc dropped 1.4% or $1.28 to $89.61 after the Ireland-based industrial machinery and equipment provider announced that today it had acquired the U.K.-based ICS Group Holdings Limited for undisclosed financial terms.

Netflix, Inc ((NFLX)) advanced 2.8% or $5.99 to $226.44 after the ahead of its fourth-quarter earnings result today after market close.

Nuance Communications Inc ((NUAN)) surged 9.4% or $1.58 to $18.60 after the voice recognition software provider forecasted first-quarter revenues between $500 million and $503 million and earnings per share in the range of.15 cents to 18 cents.

Opus Bank ((OPB)) slumped 2.1% or 60 cents to $28.10 after the commercial banking services provider said total interest income in the fourth-quarter ending in December plunged 12.3% from a year ago to $60.8 million.

Net in the quarter swung to profit $1.2 million or 3 cents per diluted share from a loss of $18.9 million or 55 cents in the same quarter last year.