Medicis Pharmaceutical Soars On Buyout (GM, MRX, F, AMZN, YHOO)
General Motors Company (NYSE:GM) stock gained 0.42% to $21.44 after a senior official at Indonesian branch of U.S. General Motors said that the firm had allocated some 150 million U.S. dollars to build production facility in Bekasi, West Java province, which is scheduled to commence operation in 2013.
Medicis Pharmaceutical Corp (NYSE:MRX) shares climbed 37.61% after Valeant Pharmaceuticals International said it agreed to buy Medicis Pharmaceutical Corp in a transaction valued at about $2.6 billion. Valeant said it would acquire all Medicis shares outstanding for $44 each in cash.
Ford Motor Company (NYSE:F) shares climbed 0.43% to $9.38 after the company’s head said that the company is preparing its strategies to flourish rapidly in the South Korean market by introducing brand new luxury models. The company’s CEO, Alan Mulally, said that South Korea is a key market for Ford and the company will provide its best products and facilities for their consumers living in South Korea.
Amazon.com, Inc. (NASDAQ:AMZN) shares gained 0.07% to $248.47 after Amazon and EPIX announce a multi-year licensing agreement in the U.S., which will add thousands of new releases, classic library titles and original programs to Prime Instant Video. Programming from the agreement includes movies from EPIX studio partners, Paramount Pictures, Metro-Goldwyn-Mayer Pictures, and Lionsgate. The agreement between Amazon and EPIX will more than double the number of titles available with Prime Instant Video since Amazon introduced Kindle Fire last September.
Yahoo! Inc. (NASDAQ:YHOO) named Kathy Savitt, founder of social-commerce startup Lockerz Inc. and a former executive at American Eagle Outfitters Inc. (AEO), as chief marketing officer. Savitt will leave as chief executive officer of Lockerz to join Yahoo next month, reporting to Chief Executive Officer Marissa Mayer, who arrived in July from Google Inc.