Diamonds and Dogs
Gilead invading the Galapagos. European drug maker, Galapagos (GLPG) is jumping 17% after receiving a $5 billion investment from Gilead Science. Galapagos will use the proceeds to expand and accelerate its research and development programs. Gilead will receive an exclusive product license and option rights to develop and commercialize all current and future programs in all countries outside Europe. Analysts liked the deal upgrading Galapagos with a $205 price target and upgrading Gilead with a $88 price target.
No deal for Symantec (SYMC). Cybersecurity firm, Symantec is down 12% after chipmaker, Broadcom walked away from merger talks after Symantec refused to accept less than $28 a share. The deal would have been Broadcom's second big bet in software, following its $18 billion takeover last year of CA Technologies.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.