In this report: Micromet (NASDAQ:MITI), Netflix (NASDAQ:NFLX) and J.C. Penney (NYSE:JCP).
Micromet (NASDAQ:MITI) shares have soared by more than 31 percent today after it was announced that Amgen would par $1.16 billion to buy the company as it trys to grow its oncology business. The offer equates to $11 per share for Micromet shareholder and represents a 33 percent premium on the company’s closing price on Wednesday. Amgen stated that the acquisition will give it access to proprietary antibody technology which provides a platform for future research. Micromet share are currently trading at $10.92 per share while Amgen (NASDAQ:AMGN) trades 1.5 percent lower at $68.17 per share.
Netflix (NASDAQ:NFLX) rallied by more than 23 percent today after the company reported its fourth quarter report which showed that it regained almost as many customers as it lost following prices increases. The company said that it ended the quarter with 24.4 million U.S. subscribers, up from 23.8 million subscribers at the end of September. The company also posted a profit of $40.7 million, or 73 cents per share, easily topping analyst estimates of 54 cents per share. Revenue during the period rose 47 percent to $876 million, again ahead of the $857 million that Wall Street had predicted. The results were followed by a number of upgrades by several analyst on Thursday. The renewed confidence in the company led to the surge in stock price today. Netflix currently trades at $117.44 per share.
J.C. Penney (NYSE:JCP) shares soared by more than 15 percent today after the company released a better than expected forecast for the 2012 fiscal year. The company now expects adjusted earnings to be at least $2.16 per share during the 2012 fiscal year, well above the $1.60 per share that analysts on average have predicted. The forecast comes after the company rolled out a new plan to reinvent itself that includes simplifying pricing, new marketing campaigns and turning stores into 100 mini-shops.
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