Health Care Sector Update for 12/07/2018: CRON, VIVE, MO, FMS, JNJ, PFE, MRK, ABT, AMGN
Top Health Care Stocks:
Pre-bell Friday saw flat to lower health care stocks.
Early movers include:
(+) Cronos Group ( CRON ), which was surging by more than 32% after Altria Group ( MO ) agreed to acquire newly issued shares in the Canadian-based cannabis producer. The transaction represents a 45% equity stake in Cronos Group, at a price of CAD16.25 per share, for an aggregate investment of approximately CAD2.4 billion ($1.8 billion).
(-) Viveve Medical ( VIVE ) was falling by more than 24% after the medical technology company priced its underwritten public offering of 13.3 million shares for total gross proceeds of $20 million.
(-) Fresenius Medical Care ( FMS ) was down more than 8% as it released preliminary 2019 guidance that prompted a 9% drop in the German health-care company’s American depositary shares in Friday’s pre-market session, but Berenberg said the guidance requires some interpretation and ultimately is in line with the firm’s thinking.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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