Intercept and Chiquita Shares Soar Despite Lower Market Open

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Intercept and Chiquita Shares Soar Despite Lower Market Open

Intercept and Chiquita Shares Soar Despite Lower Market Open
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Intercept and Chiquita Shares Soar Despite Lower Market Open

by TheStreet 0:58 mins

U.S. stocks opened slightly lower on Tuesday as investor kept their focus on geopolitical concerns in Ukraine, Gaza and Iraq. But Intercept Pharmaceuticals (ICPT) opened higher after surging more than 50% in pre-market trading. The company released positive results for its drug to treat liver disease. Other stocks to watch include Chiquita Brands (CQB). The stock soared after two groups with Brazilian roots, juice maker Cutrale and investment firm Safra Group offered the banana giant a takeover bid for $610.5 million cash rivaling an all-stock agreement with Fyffes. This unsolicited proposal could spoil Chiquita's plan to merge with the Irish rival to become the world's largest banana-distributor and pursue a tax inversion. It's the first day on the job for Target's (TGT) new chairman and CEO, Brian Cornell. He was previously an executive at Pepsico (PEP). TheStreet's Susannah Lee reports from New York.

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