Roche Comes Back to the Table
Illumina has been a target of M&A chatter before, and it's back in the headlines today. Swiss newspaper L'Agefi reported that Roche Holding may try to buy the company for $66 a share. ILMN, which closed at $52.17 yesterday, is up 7 percent before the bell on my tradeMONSTER platform.
Motorola Deal Lifts Arris Shares
Arris Group agreed to purchase Motorola Home from Google for $2.35 billion in cash and stock. The deal will also increase ARRS's patent portfolio and give it access to a range of Motorola Mobility's intellectual property. ARRS rose 7 percent in early trading.
Allscripts Down on New Direction
Allscripts Healthcare decided not to sell itself and will instead try to rebuild under new leadership. It fired old CEO and gave the reins to a board member who formerly ran competitor Cerner. The change of direction is sending MDRX down by 16 percent in the premarket.
Amicus Plunges on Drug-Trial Data
Amicus Therapeutics said that its migalastat HCl drug candidate for the treatment of Fabry disease failed to meet goals in a key Phase 3 trial. FOLD craters 45 percent on the news.
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