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Discover the companies that make the news in the midday:
Johnson & Johnson – Pharmaceutical and consumer goods stocks fell 4% after Bloomberg News announced that the US Department of Justice had opened a criminal investigation to determine whether the company had lied to the public about potential cancer risks in his baby talcum powder. The reported probe comes after thousands of cancer patients have filed a civil suit stating that asbestos in J & J talc was responsible for their disease.
Milacron Holdings – The shares of the manufacturer of plastic processing equipment rose 25% on Friday after agreeing to be bought out by Hillenbrand's industrial equipment maker. The cash and stock transaction is valued at around $ 2 billion, depending on the company, and represents a 34% margin over the closure of Milacron on Thursday. Hillenbrand shares fell by 10%.
Apellis Pharmaceuticals – The clinical-stage biopharmaceutical company jumped more than 8% after being switched from overweight to neutral by J. P. Morgan Friday. The bank analyst highlighted the opportunities offered by an anti-HIV drug at a later stage and said the asset had been underestimated.
Illumina – Shares of the biotech company fell more than 15% on Friday after announcing disappointing earnings. According to Illumina, sales are expected to be around $ 835 million for the quarter, while revenue analysts estimated at $ 887.9 million, surveyed by Refinitiv, expected.
Stitch Fix – Online personal styling service shares jumped 1% after Goldman Sachs was promoted to neutral. According to the analyst, the company is expected to outperform due to "product innovation, operational ef fi ciencies and geographic expansion, combined with the increase in the number of store closings retail sale (in particular of clothing) ".
Merck & Co – The pharmaceutical company recorded a 2.6% increase following the announcement yesterday by the White House that the Trump administration was abandoning a proposal that would have removed government drug plan rebates.
Lincoln Electric Holdings – The welding manufacturer's shares rose 3.6% after R.W. Baird improved its outperformance relative to the neutral, citing lower input costs and lower expectations.
– Mallika Mitra from CNBC contributed to this report and Elizabeth Myong contributed to this report.
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