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Celera Stock Buyout and Other Stock Market News

March 18, 2011

Quest Diagnostics Offers 20 Percent Premium for Celera

The genetic-testing company will be acquired by Quest Diagnostics in a deal estimated at $344 million, or $8 per share. The price is 20 percent higher than Celera’s close $6.27 close yesterday. CRA is up 30 percent while DGX is down slightly on extended-hours trading.

Nike Plunges After Mission on Top, Bottom Lines

The athletic shoe and apparel giant last night missed the consensus forecast on profit and revenue for its fiscal third quarter. The company reported earnings of $1.08 per share, a 5 percent increase from the corresponding quarter last year but well short of the $1.12 EPS that analysts were looking for. Revenue came in at $5.08 billion versus the $5.17 billion that had been estimated. NKE is down more than 7 percent in the pre-market.

Honda, Toyota Fall After Production Problems

Honda’s stock fell after management said it would halt operations at its auto and motorcycle assembly plants through Wednesday because of power outages and damage sustained by parts suppliers in Japan’s devastating earthquake and tsunami last week. Rival Toyota has resumed operations at seven domestic car-parts production facilities and is scheduled to resume auto assembly Tuesday, but its shares fell as well. HMC is down 2.5 percent while TM is lower by 2.88 percent this morning.

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