Gainers:
Thomas & Betts Corp. (TNB) is up 22 percent to $70.93 as Swiss engineering company ABB Ltd. (ABB) has agreed to acquire the company for $72 per share in cash or approximately $3.9 billion.
Amylin Pharmaceuticals, Inc. (AMLN) is rising 16 percent to $14.08. Alkermes plc (ALKS) is up oevr 3 percent to $19.80. The FDA has approved Bydureon, a first once-weekly treatment for type 2 diabetes, based on safety and efficacy data from the DURATION clinical trial program, in which treatment with Bydureon resulted in improvements in glycemic control with just one dose per week.
Pep Boys - Manny, Moe & Jack (PBY) is gaining 24 percent to $15.00 as the company agreed to be acquired by The Gores Group for $15.00 per share in cash or for a total enterprise value of the transaction at $1.0 billion. Pep Boys will become a privately held company and its stock will no longer trade on the New York Stock Exchange. The company has suspended its quarterly dividend.
US Airways Group, Inc. (LCC) is rising over 7 percent to $8.81 amidst reports that Delta Air Lines Inc. (DAL) is studying the company as a possible acquisition target. Delta has also been reportedly assessing a similar move for American Airlines parent AMR Corp. (AAMRQ.PK). DAL is up 2 percent to $10.60.
Decliners:
Philips (PHG) is falling over 2 percent to $19.86 as the company slipped to a loss in its fourth quarter. The company said fourth quarter results were impacted by weak European sales, postponement in deliveries of existing orders in its Healthcare sector, and inventory correction actions and other operational issues in its Lighting business. The company also issued a cautious outlook for 2012.
PharMerica Corp. (PMC) is down more than 13 percent to $12.35. The Federal Trade Commission has sued to block Omnicare Inc.'s (OCR) hostile bid for the company, alleging a merger of the two largest U.S. long-term care pharmacies would stifle competition and put consumers at risk. PharMerica responded that the FTC has made a prompt decision to resolve the competitive issues surrounding Omnicare's attempted hostile takeover of the company.
ISTA Pharmaceuticals, Inc. (ISTA) is down over 5 percent to $7.50 based on the news that Valeant Pharmaceuticals (VRX, VRX.TO) has withdrawn its offer to acquire the company for $7.50 per share in cash. Valeant said it withdrew the offer due to lack of progress.
Wendy's Co. (WEN) is down 3 percent to $5.05. On a preliminary basis, the company expects income from continuing operations for both the fourth quarter and full year ended Jan. 1, 2012 to be lower than the prior year. Consolidated revenues rose 5.6 percent in the fourth quarter, and 2.4 percent in 2011. Adjusted EBITDA for the quarter increased 10.5 percent, but was down for 2011.
Cell Therapeutics, Inc. (CTIC) is falling over 16 percent to $1.11 as the company has withdrawn its New Drug Application for Pixuvri for the treatment of relapsed or refractory aggressive non-Hodgkin's lymphoma in patients who failed two or more lines of prior therapy. The company said it needed additional time to prepare for the review of the Pixuvri NDA by the FDA's Oncologic Drugs Advisory Committee at its February 9, 2012 meeting.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.