Pharmasset agreed on the takeover

Source: Marketwatch

On Monday Gilead Sciences Inc. announced about the takeover of Pharmasset Inc. for $137 cash a share; the total sum being $11 billion. The share price of Pharmasset Inc. almost doubled after the announcement. Friday's closing price was $69.02. Gilead Sciences is going to finance the acquisition partly by cash on hand, partly by debt financing.

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Mon, 21 Nov 2011 14:46:56 GMT

US futures drop both on local and European concerns

US stock futures declined sharply on Monday as concerns about European and US leaders' inability to tackle debt turmoil surged. Chinese fuelled anxiety by predicting extended global slowdown. Futures on the Standard & Poor's 500 lost 16 points reaching 1,197.9, while those on Dow Jones Industrial Average dropped 139 points hitting 11,628. Nasdaq futures gave up 21 points attaining 2,228.75.

Mon, 21 Nov 2011 14:16:44 GMT

General Electric reports about cooler market

Softer energy market forced William Blair to decrease the profit forecast of the General Electric Co. However, its share price is predicted to increase by 13% to 68 cents annually as compared to 60 cents at the moment. William Blair declined his earning forecast for General Electric to $1.56 a share from $1.60. Fact Research expects even lower earnings of $1.54 a share. After

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