BioMarin, Cardica, La-Z-Boy, Techfaith: U.S. Equity Preview
Shares of the following companies may have unusual moves in U.S. trading tomorrow. Stock symbols are in parentheses, and prices are as of 5:20 p.m. in New York.
Standard & Poor’s 500 Index futures expiring in September added 0.20 point to 1,089.30.
BioMarin Pharmaceutical Inc. (BMRN US): The maker of treatments for rare genetic disorders said it bought ZyStor Therapeutics Inc., a privately-held biotechnology company, for as much as $115 million.
Cardica Inc. (CRDC US) surged 42 percent to $2.36. The maker of heart-surgery equipment said Intuitive Surgical Inc. (ISRG US) will pay $12 million for a royalty-bearing license and equity investment in about 1.25 million shares.
China Techfaith Wireless Communication Technology Ltd. (CNTF US) rose 4.4 percent to $3.35. The Chinese maker of mobile phones said third-quarter profit increased to 13 cents a share from 10 cents a year earlier.
La-Z-Boy Inc. (LZB US) dropped 6.5 percent to $7.03. The maker of living-room recliners said it broke even in the fiscal first quarter, in line with the average analyst estimate in a Bloomberg survey.
Life Technologies Corp. (LIFE US): The provider of gene- analysis tools for medical research agreed to acquire Ion Torrent for $375 million in cash and stock.
Windstream Corp. (WIN US): The phone company that provides service to rural areas said it agreed to acquire Q-Comm Corp., a closely held regional fiber transport and competitive local exchange carrier for about $782 million.