US stocks had exchanged higher later than the Federal Reserve pointed that it would launch additional economy-boosting measures. But, bullish market response was soon diminished by a caution from Chairman Ben Bernanke that the Fed won’t be able to protect the economy from the so-called fiscal cliff.
The companies that were still actively trading includes CA Technologies, Oracle Corporation, Verizon Communications, Coinstar, Gilead Sciences, YM BioSciences.
CA, Inc. (NASDAQ:CA) slipped -1.09% to end at $21.85 after it stated Wednesday afternoon that Michael Gregoire has been appointed to the post of CEO, effective January 7, to succeed the leaving chief William McCracken. [article_detail_ad_1]
The 46-year-old Gregoire was previously the president and CEO of Taleo Corp., a cloud-based enterprise software company that was purchased by Oracle Corporation (NASDAQ:ORCL) previously this year for roughly $2 billion. He’s as well served in administrative posts at PeopleSoft and EDS Corp. Gregoire will as well join CA’s board of directors; McCracken will resign from the board on January 7. Oracle slipped -0.68% to end at $31.94.
Verizon Communications Inc. (NYSE:VZ) and Coinstar, Inc. (NASDAQ:CSTR)’s Redbox intend to roll out a beta version of their online video JV later this month, with a combination streaming content and DVD rental package valued at $8 per month.
Separately, Northland raised shares of Coinstar to outperform from market perform, mentioning a rental recovery at Redbox kiosks prior to several catalysts. Shares of Coinstar closed at $52.83 with the change of +$2.02 or +3.97% and shares of Verizon settled at $44.85 with the change of +$0.41 or +0.92%.
Gilead Sciences, Inc. (NASDAQ:GILD) settled at $76.60 with the change of +$0.26 or +0.34% after it has agreed to acquire YM BioSciences Inc. (USA) (NYSEAMEX:YMI) for $510 million in cash, as the drug firm looks to enhance its oncology portfolio. Gilead will disburse a per-share price of $2.95, an 81% premium over YM’s Tuesday ending price.
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