Wall Street Highlight: Abbott (ABT), Activision Blizzard (ATVI), CenterPoint Energy (CNP)

Albany, New York (09/29/2014) – Abbott Laboratories (NYSE:ABT) now owns more than 99% of CFR Pharmaceuticals’ ordinary shares following a $2.9 billion acquisition deal. The move doubles Abbott’s branded generic pharmaceutical presence in Latin America. It also increases the company’s presence in the fast-growing Latin American market. Following the acquisition of CFR, Abbott ascends to be among the top 10 drug companies in Latin America. The value of the pharmaceutical market in Latin America is expected to be $124 billion by 2018. The Latin American market is also expected to grow at a rate that is two to three times that of the developed markets. The acquisition of CFR comes just when Abbott Laboratories (NYSE:ABT) recently announced an enhanced program to return greater value to shareholders. The company said that its Board approved $3 billion more in shares repurchase program on top of the remaining $511 million from June 2013 approval.

Activision Blizzard, Inc. (NASDAQ:ATVI) got a reprieve as patent violation claims leveled against it by McRO, Inc. d.b.a. Planet Blue flopped. The company said that a U.S. District Court looking into the claims did not find any violation and dismissed the case. The company recalibrated the dismissal of the patent case and its Chief Legal Officer, Chris Walther, said such cases stifle innovation. However, he promised that the company would continue to defend its investment in innovation. The patent dispute touched on facial expressions and lip synchronization for 3D characters. Activision Blizzard, Inc. (NASDAQ:ATVI) recently announced that it sold $500 million worth of Destiny, its new video game, in just a single day. That turned out to be the biggest new video game launch in history.

CenterPoint Energy, Inc. (NYSE:CNP) has reportedly signed a non-disclosure agreement towards bidding for Oncor electricity distributor, which is owned by Energy Future Holdings Corp. People with insider knowledge also cited Berkshire Hathaway Inc. (BRK.A) and Hunt Consolidated Inc as having too signed confidentially agreements to explore a bid for Oncor. The business was valued at $17.5 billion by NextEra Energy Inc, which placed a takeover bid for it earlier this year. About 10 potential buyers are circling Oncor.

About the Author

Barry is a senior journalist at Us Markets Daily. He reports, shoots and edits many of his own stories by himself.

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