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Pfizer Inc. (NYSE:PFE) and Bristol-Myers Squibb Company (NYSE:BMY) reported that the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency, has reached a positive opinion recommending that Eliquis be granted approval for the prevention of stroke and systemic embolism in adult patients suffering nonvalvular atrial fibrillation and one or more risk factors for stroke. This opinion will now be reviewed by the European Commission, and the final decision will then be applicable to all 27 European Union member states plus Iceland and Norway. Shares closed up 0.45 percent on the day at $24.52, and have been traded in a 52-week range of $17.05 to $24.49.
Packaging Corporation of America (NYSE:PKG) is among a group of rallying containerboard producers which were upgraded by analyst Mark Wilde at Deutsche Bank from Hold to Buy, who now thinks that the publication Pulp and Paper Week will report that September prices have increased about $40 per ton. A meeting with a few privately owned companies in the sector has convinced the analyst of a much larger chance (75 to 80 percent) that a recent containerboard price rise can be maintained, while also noting that the sector’s inventories fell to their lowest August level in decades. Wilde’s optimistic outlook for the sector represents a reversal from a prediction he made earlier in September, when all four of the sector’s stocks were downgraded, and he warned that the containerboard price hike investors were anticipating to occur in the autumn might not obtain. Parenthetically, the analyst admitted on Friday that he’s “eating a bit of crow.” Other sector stocks upgraded include International Paper Co. (NYSE:IP), Rock Tenn Co. (NYSE:RKT), and KapStone Paper and Packaging Corporation (NYSE:KS). PKG shares closed up 2.15 percent on the day at $33.75, having been traded in a 52-week range of $21.75 to $33.55.
Syngenta AG (NYSE:SYT) intends to initiate, through its subsidiary Syngenta Crop Protection AG, a voluntary and conditional public cash acquisition offer for all shares and warrants issued by Devgen NV. The bid offers €16 per share, with the price for warrants having been determined in conformity with market practices. The offer is contingent upon the completion of certain customary conditions, among which include the receipt of acceptances in respect of a minimum of 80 percent of the shares that are subject to the offer and also upon the condition that Devgen does not suffer a material adverse change prior to the results of the offer being published. Shares closed down 0.38 percent on the day at $73.53, and have traded in a 52-week range of $49.13 to $74.34.
AT&T Inc. (NYSE:T) is one of the companies that has spent big bucks launching new networks with the promise of extremely fast Web browsing speeds on mobile phones, as they anticipate the arrival of the iPhone 5 (NASDAQ:AAPL), which boasts a LTE capability that could expose holes in coverage and test the networks’ capacity to handle heavy traffic for the first time. Other companies include Verizon Wireless (NYSE:VZ)(NASDAQ:VOD), and Sprint Nextel Corporation (NYSE:S); their tech might be heavily marketed, but several networks are far from completion. Shares of AT&T closed up 0.37 percent on the day at $38.08, and have traded between $27.41 and $38.28 for the past 52 weeks.
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