|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||15.70 - 18.54|
|52 Week Range||10.85 - 38.31|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.34 (2.06%)|
|1y Target Est||N/A|
Disney (DIS) is spending $52 billion for most of 21st Century Fox’s (FOXA) film and TV assets. Disney shares are up over 2% on the deal news. Disney will also take on about $13 billion in debt.
Teva Pharmaceutical is cutting more than 25% of its workforce and suspending its dividend as it works to cut costs and pay down debt.
Teva Pharmaceutical Industries Ltd. announced plans to cut its global workforce and consolidate its U.S. offices, but the Israel-based pharmaceutical company (TEVA) has not yet announced plans for its Overland Park headquarters, which hosts 388 employees. Teva also will consolidate its seven U.S. locations into one main campus, but that location has yet to be determined, Senior Director of Communications Kaelan Hollon wrote in an email. Teva's North American headquarters are currently located in North Wales, Pa., but the company did not state whether that could change, the Philadelphia Business Journal reported .
The job cuts are part of the Petach Tikva, Israel-based drugmaker's restructuring efforts aimed at lowering its total cost base by $3 billion by the end of 2019.
U.S. equities fell on Thursday amid doubts over the fate of the GOP’s tax cut plans. The doubt hit investors after a number of Republican senators expressed reservations about the amount of the child tax credit.
Teva surged after saying it would slash its workforce by more than a quarter, and close several plants.
Generic drug prices have been declining all year, posing a crisis for the industry and prompting the very cost-cutting that Teva just announced.
Teva's price action has been a disaster so far this year, but that could be about to change. The long-term price action suggests traders are warming to Teva's turnaround plan.