Canadian specialty-drug giant Valeant Pharmaceuticals International agreed to pay $1 billion for Sprout Pharmaceuticals Thursday, two days after Sprout’s much-debated female aphrodisiac Addyi received FDA approval. The market seemed unimpressed by the move, as Valeant (VRX) stock fell 6.5% Thursday, to a six-week low of 229.06. A top-performing stock in recent years, Valeant shares touched a record high near 264 on Aug. 6. Valeant agreed to pay
Investors clearly disagreed Thursday with Synopsys (SNPS) CFO Trac Pham, who late Wednesday likened the company’s three-penny trim of 2015 earnings guidance to “a deferred haircut.” Synopsys closed down 7% in the stock market today at 48.60, though shares regained a little after hours. During the company’s Q3 earnings conference call, Pham attributed the EPS haircut to four hefty acquisitions in Q3 expected to remain dilutive in 2016. Synopsys
It’s not something that Twitter (TWTR) would want to tweet: Its stock on Thursday closed at 26, the same as its IPO price 21 months ago. Twitter stock, which hit an intraday low of 25.92, was down 5.8% for the day. It was a rough day for social networking stocks in general. Facebook (FB) stock fell 5% to 90.56. But unlike Twitter, Facebook has a lot to brag about. Facebook, currently an IBD Leaderboard stock, has been on an upward climb for the