Gold Plummets, Market Posts Biggest Drop of Year, and Dish Network Offers $25.5B for Sprint
NEW YORK, April 16, 2013 /PRNewswire/ --
The market posted the biggest drop of the year on Monday, the biggest drop since Nov. 7 of last year. Gold fell below $1,400 an ounce for the first time since February 2011. Dish Network made a $25.5bil offer in cash and stock on Monday for Sprint, which the Company says beats its competing bid from Japan's Softbank Corp. Dish is offering $17.3 billion in cash, and Sprint shareholders get 32 percent of the combined Dish-Sprint while Softbank is offering $20 billion in cash, and shareholders get to keep 30 percent of Sprint.
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Genetic Technologies Limited (Nasdaq: GENE) - Shares of GENE popped on Monday after the Company's U.S. subsidiary Phenogen Sciences recently presented study results demonstrating that BREVAGen more accurately identifies a woman's chances of getting breast cancer than the Breast Cancer Risk Assessment Tool (BCRAT) alone. GENE closed up 22.77% at $2.75.
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Discovery Laboratories Inc. (Nasdaq: DSCO) - Shares of Discovery Laboratories sank on Monday after the Company announced that the U.S. Food and Drug Administration (FDA) has requested clarification and provided recommendations regarding the recently-updated product specifications for SURFAXIN®. The stock closed down 22.59% yesterday at $1.85.
Life Technologies Corporation (Nasdaq: LIFE) - Life Technologies Corp. hit a new 52-week high of $73.02 on Monday. The move came after news revealed yesterday that Thermo Fisher Scientific Inc. has agreed to buy Life Technologies Corp for $13.6 billion. LIFE closed up 7.51%, at $73.11.
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UniTek Global Services, Inc. (Nasdaq: UNTK) - UNTK split more than in half on Monday after the Company announced on Friday that it will restate its financial results for the interim periods ended March 2012, June 2012 and September 29, 2012, as well as for the fiscal year ended December 2011 and the interim period ended October 1, 2011. The stock hit a new 52-week low of $0.95 in intra-day trading yesterday.
Desarrolladora Homex, SAB de CV (NYSE: HXM) - HXM sank to a new 52-week low of $6.15 on Monday with trading volume roughly three times higher than average. The sock was one of the biggest decliners on the NYSE yesterday.
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