Stocks to watch: Amylin, Barclays

The diabetes drugmaker is being acquired, and the chairman of the financial firm is resigning.

By MSN Money Partner Jul 2, 2012 8:48AM
By Joseph Woelfel, TheStreet.com

Bristol-Myers Squibb (BMY) is purchasing diabetes drugmaker Amylin Pharmaceuticals (AMLN) in a deal valued at about $7 billion. The companies said on Friday that Bristol-Myers would pay $31 a share in cash for San Diego-based Amylin. The deal includes Amylin's net debt and a payment obligation to Eli Lilly (LLY) bringing the total value of the transaction to about $7 billion, the companies said.

The purchase price offers a 9.9% premium of to Amylin's closing share price Friday of $28.20.

Shares of Amylin rose 8.94% in premarket trading Monday to $30.72.


Barclays PLC (BCS) said Monday its chairman has resigned. Marcus Agius departs following the bank's $453 million settlement of an investigation into alleged interest rate manipulation.

Regulators in the U.S. and the U.K. alleged that Barclays had submitted false data for setting the London interbank offered rate, or Libor, between 2005 and 2009. Agius has been chairman at Barclays since the beginning of 2007. Barclays shares rose 3.79% in premarket trading Monday to $10.69.


Technology distributor Ingram Micro (IM) said Monday that it agreed to acquire wireless device distributor BrightPoint (CELL) for $840 million, including debt. The offer of $9 a share is a 66% premium to BrightPint's closing price Friday of $5.41. Shares of BrightPoint jumped 61.18% in premarket trading Monday to $8.72.


Germany's Linde agreed to buy Lincare Holdings (LNCR) for about $3.8 billion. Under the deal, Linde will pay $41.50 a share for Lincare, a leader in the U.S. home respiratory market.

Lincare shares closed Friday at $34.02. Shares of Lincare climbed 19.93% in premarket trading Monday to $40.80.


Apple (AAPL) paid $60 million to Shenzhen Proview Technology to settle a dispute in China over ownership of the iPad name, a court announced Monday, according to a report from The Associated Press. The deal removes a potential obstacle to sales of the iPad in China, a key market. Apple shares ticked up $1.25, or 0.21%, in premarket trading Monday to $585.25.


Acuity Brands (AYI) is expected by analysts Monday to post third-quarter earnings of 79 cents a share on revenue $492 million.

0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

108
108 rated 1
257
257 rated 2
439
439 rated 3
626
626 rated 4
499
499 rated 5
530
530 rated 6
713
713 rated 7
522
522 rated 8
339
339 rated 9
136
136 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
UPLULTRA PETROLEUM Corp10
EOGEOG RESOURCES Inc10
SWNSOUTHWESTERN ENERGY COMPANY10
TAT&T Inc9
COPCONOCOPHILLIPS9
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.