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July 29, 2014
16:13 EDTCVDCovance reports Q2 EPS 95c, consensus 93c
Reports Q2 revenue $639.35M, consensus $639.74M. The company said, "In the second quarter, a stronger-than-expected performance in Early Development and continued strong growth in central laboratories more than offset lower-than-expected growth in clinical development, leading to year-on-year revenue growth of 8%, expanded pro forma operating margins of 11.9%, and a 21.5% year-on-year increase in pro forma EPS. Commercial performance strengthened from the first quarter, with second quarter adjusted net orders of $773M resulting in an adjusted net book-to-bill of 1.21 to 1."
News For CVD From The Last 14 Days
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February 23, 2015
05:41 EDTCVDLabCorp upgraded to Overweight from Neutral at Piper Jaffray
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February 19, 2015
09:22 EDTCVDLabCorp completes acquisition of Covance
LabCorp (LH) announced the completion of its acquisition of Covance (CVD), following its entry into a definitive purchase agreement on November 2, 2014. At closing, the purchase consideration was valued at $107.19 per Covance share, consisting of $75.76 in cash and 0.2686 LabCorp shares for each Covance share, or an equity value of approximately $6.2B and an enterprise value of approximately $5.7B. The closing of the transaction follows the receipt of all necessary regulatory requirements and approval of the transaction by Covance shareholders on February 18. With the closing of the transaction, Covance common stock will cease trading and will no longer be listed on the NYSE.
February 18, 2015
09:27 EDTCVDCovance stockholders approve acquisition by LabCorp
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