Information provided by Theflyonthewall.com
The Supreme Court ruled unanimously that Monsanto's
) patented genetically altered soybeans are protected and that farmers cannot use them to create new seeds without paying the company. The ruling, which is in keeping with prior decisions by lower courts, failed to spur its shares higher, as Monsanto's stock traded fractionally lower near midday.
) special committee publicly asked for more information from Carl Icahn and Southeastern Asset Management about their proposed leveraged recapitalization.
Among its many questions and points, the letter to the investors stated, "Your proposal does not appear to take into account the additional borrowings that would seem to be required to address the liquidity needs that would result from the extent to which you would use the Company’s cash in the transaction."
Among the notable gainers was Theravance
), which rose 15% after Elan Corporation
) bought a stake in the potential future royalty payments from four respiratory programs partnered with GlaxoSmithKline
) in exchange for $1 billion in cash. Also higher were shares of Perion Network
), which gained about 12% after the company's earnings report.
Among the noteworthy losers was Jos. A. Bank
), which fell 7% after guiding to quarterly earnings that missed the consensus forecast. Also lower were shares of Qihoo 360
), which slid almost 5% amid foreign-language reports that suggest the company may have agreed to an all-stock transaction to acquire Sohu's
) search engine business.