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Stock Market & Financial Investment News

News Breaks
January 16, 2013
07:05 EDTDGXQuest Diagnostics plans to sell HemoCue diagnostic products business
Quest Diagnostics announced that it plans to sell its HemoCue diagnostic products business, as part of the company's strategy to refocus on diagnostic information services. HemoCue develops, produces and markets point-of-care testing systems. As a result, Quest Diagnostics will report 2012 and 2011 results for HemoCue and its OralDNA products business, which was sold in December, 2012, as discontinued operations in its report of fourth quarter 2012 results, and take related after-tax charges in discontinued operations for the estimated asset impairment associated with HemoCue and the loss on sale associated with OralDNA, totaling $89.5M, or 56c per diluted share, in the period. The company's consolidated income statements for FY12 and 2011 will present the operating results of HemoCue and OralDNA as discontinued operations. As such, results from continuing operations will be reduced as follows: Revenues by $117M in 2012 and $119M in 2011; Operating income by $11M in 2012 and $8M in 2011; Net income from continuing operations by $15M in 2012 and $13M in 2011; and EPS by 9c in 2012 and 8c in 2011.
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May 22, 2015
12:34 EDTDGXOn The Fly: Top stock stories at midday
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12:10 EDTDGXQuest declines comment to Bloomberg on takeover speculation
Quest Diagnostics (DGX) declined comment to Bloomberg regarding the takeover speculation that pushed the company's stock higher today. Shares of Quest are up $7.01 to $80.89 in midday trading. Shares spiked earlier in the trading day amid talk among traders that Quest hired an investment bank to explore a sale after being approached by a suitor. The talk is unconfirmed speculation that has not been reported by any news agencies. Quest peer LabCorp (LH) is up $1.74 to $122.10 at midday.
10:43 EDTDGXQuest Diagnostics jumps amid takeover speculation
The move higher in Quest Diagnostics (DGX), which was earlier halted for volatility and remains up 15% to $85 per share in morning trading, has been attributed to takeover speculation. Peer Lab Corp. (LH) is also up 3.9% to $125 in morning trading.
10:19 EDTDGXQuest Diagnostics calls active on renewed takeover chatter
Quest Diagnostics June 75 and 80 calls are active on total call volume of 2,100 contracts (100 puts) on renewed takeover chatter. June call option implied volatility is at 18, July is at 19; compared to its 26-week average of 19. Active call volume suggests traders taking positions for upside price movement.
10:15 EDTDGXRumor: Quest Diagnostics moves up on renewed takeover chatter
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