Campbell Soup Co. (CPB: Quote) is rising 4 percent to $36.53. The company's fourth quarter profit increased from the prior year period and its adjusted earnings per share topped analysts' expectation. Campbell expects to grow fiscal 2013 sales between 10 and 12 percent, adjusted EBIT between 4 and 6 percent and adjusted EPS between 3 and 5 percent.
Medicis Pharmaceutical Corp. (MRX: Quote) is surging 38 percent to $43.52. Valeant Pharmaceuticals International, Inc. (VRX: Quote,VRX.TO: Quote) has agreed to buy the company in an all-cash deal valued at $2.6 billion. VRX is up 10 percent to $56.25.
Questcor Pharmaceuticals, Inc. (QCOR: Quote) is gaining 7 percent to $46.50. The company disclosed that the government has informed that its multiple sclerosis drug H.P. Acthar Gel is eligible for a lower Medicaid rebate amount. The company said it is in the process of taking the necessary steps to effect this change, which could have a materially positive impact on its financial results.
Heckmann Corp. (HEK: Quote) is rising 18 percent to $3.17. The company announced that it has agreed to buy privately-held Badlands Energy, LLC, doing business as Power Fuels.
Smithfield Foods, Inc. (SFD: Quote) is down over 2 percent to $18.80. The company's first quarter profit declined from the year-ago period. Both earnings per share and sales were below Wall Street view. The company said it is disappointed with the poor performance of its fresh pork business, as the fresh pork complex remained under pressure due to higher supplies and weak domestic retail demand.
MannKind Corp. (MNKD: Quote) is falling 9 percent to $2.45.
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by RTT Staff Writer
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