Charles River Sails Off With WuXi PharmaTech
Charles River Sails Off With WuXi PharmaTech.
Charles River Laboratories International and WuXi PharmaTech announced that they have signed a definitive agreement under which Charles River and WuXi will combine in a cash and stock transaction valued at approximately $1.6 billion.
On the news, shares of Charles River Laboratories
(
CRL -
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people
) were down 14.5%.
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BlackRock
(
BLK -
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people
) posted first quarter adjusted net income of $2.40 per diluted common share, missing analyst expectations. The company said that following last years sharp rally in global equity markets and significant tightening of credit spreads, institutional investors stepped back to reassess their asset allocation strategies. As a result, institutional re-risking activity slowed down and reallocations focused primarily on shifting from active to passive and from money market funds to deposits.
Shares of Blackrock fell about 7.8%.
PrivateBancorp
(
PVTB -
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people
) reported a net loss of $24.3 million, or $0.35 per diluted share, for the first quarter 2010, compared to net income of $4.8 million, or $0.14 per diluted share, for the first quarter 2009.
PrivateBancorp shares are off by 14.4% on the report.
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China Security & Surveillance Technology reported first-quarter revenues of $120.19 million, net income of $3.28 million and diluted EPS of $0.05. While results met expectations, the stock is trading down today, off by 17%.
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