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Valeant Pharmaceuticals Int (NYSE:VRX) $2.6 billion agreement to purchase skin-care company Medicis Pharmaceutical Corp. recharges an acquisition plan that stumbled with last year’s failed bid for Cephalon Inc. Valeant, which is Canada’s largest publicly traded drugmaker, stated yesterday it intends to pay $44 in cash for each share of Medicis, which 39 percent more than the Aug. 31 closing price. Valeant rose 15 percent to $58.78 in New York trading, which is its largest gain since January 2011 and highest close on record. Shares of Valeant Pharmaceuticals Int are trading 0.19% lower today.
INVESTING INSIGHTS: Are Alzheimer’s Drugs Catalyzing These Stock Prices?
Dollar General Corp. (NYSE:DG) sees its FY interest expense totaling $130 million to $140 million. The Company intends to open nearly 625 new stores, including 40 Dollar General Market stores in 2012. Also, the Company intends to remodel or relocate a total of about 575 stores, which is more than the Company’s previous estimate of 550. Square footage is expected to increase by about 7 percent. Capital expenditures should be in the range of $600 million to $650 million. The volatility of the macroeconomic environment still pressures the consumer and impacts the Company’s cost of purchasing and delivering merchandise to its stores. Management still closely monitors customers’ responses to the economic and competitive climates. Shares of Dollar General Corp. are trading 1.95% higher today.
Finisar Corporation (NASDAQ:FNSR) reported Q1 results that falling short of Wall Street expectations as the optical communication components maker keeps grappling with slowing European and Chinese demand, and forecast a weak Q2 profit. The company stated that it thinks an adjusted profit of 12 cents to 16 cents per share for Q2, on revenue of $225 million to $240 million. Shares of Finisar Corporation are trading 0.67% higher today.
CONN’S, Inc. (NASDAQ:CONN) reports a Q2 revenue totaling $207.4 million, consensus $205.95 million. Shares of CONN’S, Inc. are trading 9.06% higher today.
Piedmont Natural Gas Company Inc. (NYSE:PNY): Democrats have touted their grassroots fundraising efforts for the 2012 Democratic National Convention, and wealthy corporate donors are assisting in underwriting the event. Some of the corporate sponsors at the Charlotte convention are AT&T Inc., Bank of America, Duke Energy, Time Warner Cable, Coca-Cola, Wells Fargo, UnitedHealth Group, Piedmont Natural Gas, US Airways, and law and lobbying firm McGuireWoods. Shares of Piedmont Natural Gas Company Inc. are trading 0.25% lower today.
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