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Stock Market & Financial Investment News

News Breaks
March 13, 2014
05:47 EDTCRLCharles River Labs to acquire CRO services division of Galapagos NV for $179M
Charles River Laboratories announced that it has entered into a definitive agreement to acquire the CRO services division of Galapagos NV, which includes both Argenta and BioFocus. These businesses are global leaders in integrated drug discovery services, with a predominant focus on in vitro capabilities. The acquisition will position Charles River as a full service, early-stage contract research organization, or CRO, with integrated in vitro and in vivo capabilities from target discovery through preclinical development. The purchase price is approximately $179M based on current exchange rates. In addition to the initial purchase price, the transaction includes future performance payments of up to approximately $7M. The transaction is expected to be accretive to non-GAAP EPS by approximately 10c in FY14. James C. Foster, chairman, president, and CEO said, “The acquisition will enhance our sales growth rate and be accretive to non-GAAP EPS in 2014, and we expect increased contribution in 2015 and beyond." The transaction is expected to close early in Q2. Based on the anticipated timing of the close, the acquisition is expected to add approximately 6% to Charles River’s net sales in 2014.
News For CRL From The Last 14 Days
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January 23, 2015
10:02 EDTCRLOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmSurg (AMSG) upgraded to Overweight from Neutral at Piper Jaffray... Anglo American (AAUKY) upgraded to Neutral from Sell at Goldman... Autobytel (ABTL) upgraded to Buy from Hold at Ascendiant... Charles River Labs (CRL) upgraded to Outperform from Market Perform at William Blair... Chesapeake (CHK) upgraded to Outperform from Neutral at Credit Suisse... CubeSmart (CUBE) upgraded to Buy from Neutral at SunTrust... Cypress Semiconductor (CY) upgraded to Neutral from Underweight at JPMorgan... DreamWorks Animation (DWA) upgraded to Overweight from Neutral at Piper Jaffray... E-Trade (ETFC) upgraded at Credit Suisse... Kate Spade (KATE) upgraded to Buy from Neutral at Mizuho... LinkedIn (LNKD) upgraded to Strong Buy from Market Perform at Raymond James... Matthews (MATW) upgraded to Outperform from Neutral at Macquarie... Meridian Bioscience (VIVO) upgraded to Buy from Hold at Craig-Hallum... Michael Kors (KORS) upgraded to Buy from Neutral at Mizuho... NIC Inc. (EGOV) upgraded to Hold from Sell at Maxim... Natural Grocers (NGVC) upgraded to Overweight from Neutral at Piper Jaffray... Nucor (NUE) upgraded to Buy from Neutral at Goldman... ResMed (RMD) upgraded to Buy from Hold at Needham... Smith & Wesson (SWHC) upgraded to Buy from Neutral at Dougherty... Ternium (TX) upgraded to Neutral from Sell at Goldman... Union Pacific (UNP) upgraded to Buy from Hold at BB&T... ZAGG (ZAGG) upgraded to Buy from Hold at Craig-Hallum... lululemon (LULU) upgraded to Overweight from Neutral at JPMorgan.
07:32 EDTCRLCharles River Labs upgraded to Outperform from Market Perform at William Blair
William Blair upgraded Charles River Labs (CRL) to Outperform citing improving demand for early-stage development services as well as opportunity for share gains due to Covance’s (CVD) pending merger with LabCorp (LH).

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