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Discover the companies that make the headlines before the bell:
Pfizer – Pfizer merges its non-patented drug unit with Mylan into a share swap agreement to form a new entity, 43% owned by Mylan's shareholders, with Pfizer's shareholders owning the rest. In addition, Pfizer announced an adjusted quarterly profit of 80 cents per share, 5 cents higher than estimates. Mylan announced an adjusted quarterly profit of $ 1.03 per share, 8 cents higher than the consensus.
Genomic Health – Genomic Health has agreed to be bought by the cancer diagnostic company, Exact Sciences, for $ 2.8 billion in cash and stock. This agreement will strengthen Exact Sciences' line of cancer screening products. Exact Sciences also released its quarterly figures this morning, losing 30 cents per share against a consensus loss of 56 cents. The manufacturer of the Cologuard colon cancer test also reported revenue higher than Street's forecast.
BlackRock – The badet management company is negotiating to buy the Cofense cybersecurity company, according to a Reuters report. BlackRock already has a stake and the discussions come after a US national security panel has asked another stakeholder, Pamplona Capital Management, to sell its stake for unidentified security reasons.
Blackstone – The London Stock Exchange is in advanced negotiations for the purchase of Refinitiv – a majority-owned financial data provider by Blackstone – for $ 27 billion, including badumed debt. Refinitiv is a spin-off of Thomson Reuters, which still holds a 45% stake.
Novartis – Entresto, the medication against heart failure of the drug manufacturer, has not achieved its goal, namely a test of possible application for a new use. The drug is already approved to treat heart failure "reduced fraction".
Sanofi – Sanofi has raised its outlook for 2019 after the French drug manufacturer published strong figures for the second quarter. Sanofi's net results were boosted by strong growth in its vaccine and rare disease products.
Domino's Pizza – The pizza chain was clbadified "sold" in a new Deutsche Bank cover, denouncing "competitive intrusion" of third-party aggregators. Deutsche Bank said the competitive pressure would intensify over the next 2 to 3 years.
Anheuser-Busch InBev – The beer brewer's shares have been upgraded to become "neutral" at Bank of America / Merrill Lynch, highlighting the constant improvement of the macroeconomic environment and the fact that shares offer investors an opportunity for growth at a reasonable valuation.
Gilead Sciences – RBC Capital has ranked the drug maker's shares among the top performers, highlighting the company's new leadership and indicating that a number of the above-mentioned surplus securities are now available.
Coca-Cola and PepsiCo – Atlantic Equities attribute these two stocks an "overweight" in the new hedge, a positive consumer environment and a reduction in commodity cost inflation among the positive factors. Atlantic also notes that both companies will see relatively easy results given the overall market difficulties in 2017 and 2018.
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