Hints and tips:
...Pfizer said Seagen had four ADC approved drugs, which are first or best in class for the conditions they treat....
...Seagen specialises in antibody-drug conjugates (ADCs), which use antibodies to deliver the drug directly to tumours. Complex manufacturing of these drugs should reduce rivalry from generics....
...SeaGen specialises in antibody-drug conjugates (ADCs), which use antibodies to deliver the drug directly to the tumours. But with more treatments in-house, Merck would have more pricing power....
...ADC has net debt of about $100m. The price represents a 44 per cent premium to where ADC shares closed on Monday....
...Shares in ADC surged 41.5 per cent to $12.52. Trading in the stock was halted for part of the session....
...ADC shares dropped 11 per cent to $5.91. The technology sector led the market lower as a result, adding to its losses on Thursday when a rush of downgrades hit chipmakers....
...ADC Telecommunications also surprised the market by reporting a quarterly profit. Analysts had expected the telephone equipment maker to break even. Its shares surged 21.4 per cent to $6.53....
...In early trading on Thursday Cisco Systems’ shares were down 2 per cent at $15.63, Juniper Networks was almost 5 per cent lower at $15.91, and ADC Telecom had dropped 3.5 per cent to $6.62....
...The S&P removed three stocks, PMC Sierra, ADC Telecom and Sanmina-SCI - all technology companies....
...The value of that deal had fallen by almost half since it was announced at the end of May as shares in ADC, which makes equipment for both fixed and wireless networks, shares sank....
...ADC Telecommunications , maker of telecom equipment, lost 7.3 per cent to $13.68 after it cut its full-year earnings guidance, and was lowered from “outperform” to “neutral” by Credit Suisse....
...ADC, which makes networking equipment, plummeted41 per cent, while Tellabs sank 32 per cent. JDS Uniphase , maker of telecoms testing and measurement equipment, lost 27 per cent....
...After completion, ADC shareholders will own 56 per cent of the combined company with Andrew’s shareholder holding the rest....
...ADC Telecommunications dropped sharply after saying it would buy Andrew Corp in a deal valued at $2bn. Shares in ADC fell 19.9 per cent to $17.92. Andrew rose 3.5 per cent to $10.12....
...Communications stocks were the week’s strongest performers, in spite of a precipitous fall for ADC Telecommunications, which sank 23.5 per cent to $17.63 after it announced it would buy Andrew Corp for $2bn...
...As a result of earnings warnings by the likes of Motorola and ADC Telecommunications, the Dow Jones Industrial Average closed 1.2 per cent lower at 10,317.36, with the S&P 500 off 1.5 per cent at 1,196.39...
...The wave of profit warnings continued, with ADC Telecommunications slumping 13.5 per cent to $19.60 as it cut its fourth-quarter earnings guidance to 15-19 cents a share from 24-28 cents, due to weak sales...
...ADC Telecommunications was among bearers of disappointing news and saw its shares lose 13.5 per cent on Wednesday, when it lowered its earnings forecast range. It lost 15 per cent on the week....
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