Monday, August 23, 2010

Day Trader's Alert: PAR, JAZZ

HP (NYSE: HPQ) said Monday that it has submitted to 3PAR Inc. (NYSE: PAR) a proposal to acquire all of the outstanding shares of 3PAR for $24.00 per share in cash, or an enterprise value of $1.6 billion. The proposed transaction represents a 33.3 percent premium above the price proposed by Dell Inc (NASDAQ: DELL).

Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ) announced late Friday that the Joint Advisory Committee of the U.S. Food and Drug Administration, including the Arthritis Advisory Committee and the Drug Safety and Risk Management Advisory Committee, voted 20-2 that the benefit/risk balance did not support the approval of JZP-6 for the treatment of fibromyalgia with the currently proposed Risk Evaluation Mitigation Strategy. Shares of the company plunged more than 25% in pre-market action.

Full Disclosure: None.
Related Posts with Thumbnails

Wikinvest Wire