Posts tagged “Local Firms”
Three Wall Street firms have voted "no" on the big Quintiles-IMS Health merger so far by downgrading Quintiles stock. However, on Wednesday afternoon S&P Global Ratings weighed in with a positive review of the deal. WTW Insiders get the details.
Triangle headlines: GSK sells RTP buildings; Nortel bankruptcy ruling; Lenovo's $500M investment fund; Chinese firms like NC
In today's wrapup of Triangle area news: GSK sells its RTP buildings but plans to lease them back; a ruling may lead to Nortel bankruptcy settlement; Lenovo plans to invest $500 million in startups; and Chinese firms show a liking for North Carolina.
Durham-based life science services giant Quintiles is merging with IMS Health Holdings in a deal forming a company worth some $17.6 billion. The merger was announced early Tuesday. Quintiles founder Dennis Gillings will lead the combined board but IMS shareholders will hold majority of stock. Wall Street, however, reacts negatively to the news.
The merger of Quintiles and IMS Health creating a $17 billion health services company announced Tuesday can be traced back to a meeting between the two CEOs last year. Quintiles' Tom Pike tells analysts the two firms discovered quickly how well they could work together, and the CEO of IMS says the collaboration has already delivered "major wins."
Tuesday's merger of Quintiles with IMS Health Services might trigger other CRO deals affecting the Triangle, says Chapel Hill-based analyst Andrew Schafer of Industry Standard Research. Also, Wall Street is giving the Q deal the thumbs down as shares tumble 8 percent. Why? Schafer explains. Plus, a Bloomberg columnist weighs in.
Any time companies merger, they talk about cost savings and "synergies." That often means layoffs with redundant services and more often being cut. So will there be an immediate impact in Durham at Quintiles' global headquarters? And why merge with IMS Health Services? WTW asks a Quintiles exec for details.
eProcurement services firm SciQuest beat the Street in earnings and revenues for the first quarter - and expects a bullish year. Among the reasons: A "hunter and farmer" sales approach implemented for its sales force, CEO Stephen Wiehe tells Wall Street analysts.
A reorganization and job cuts in its smartphone business are apparently not producing quick dividends for Lenovo. The latest statistics from research firm IDC show that Lenovo has fallen out of the top five among global manufacturers.
At Tuesday's Full Steam Ahead Awards presented by WRAL Tech Wire at Motorco in Durham, 12 entrepreneurial companies were recognized with the customary conductor's hat and train whistle as leaders in their category. Another five individuals were recognized for their careers of service.
Pharmaceutical company GlaxoSmithKline says higher sales of vaccines and consumer healthcare products pushed up its earnings from core business by 19 percent in the first quarter. CEO Andrew Witty sees the results as an "encouraging start" for the year.
HQ Raleigh and Red Hat each captured two awards in WRAL TechWire's fourth "Full Steam Ahead Awards" on Tuesday night. Dave Rizzo, foounder of NC IDEA and IDEA Fund Partners, and Research Triangle Regional Partnership CEO Charles Hayes are among five lifetime service award recipients.
Is the worst over for Cree? The Durham-based LED firm's latest earnings report Tuesday beat the Street and a revenue forecast was largely in line with expectations. The result: A small boost in share price during after-hours trading.
Red Hat beefs up 'cloud' offering; new cholesterol drugs falter; Airbnb updates; EU-Google battle intensifies
In today's Bulldog wrapup of technology and life science news: Red Hat expands its cloud offerings; new cholesterol lowering drugs hurt by prices; Airbnb updates its offerings; and the EU vs. Google battle intensifies.
- Stocks give up an early gain on Wall Street and head lower
- Firm to restart shuttered Siler City chicken plant, creating 500 jobs
- FDA announces rules that could upend e-cigarette industry
- Durham startup doesn't win Google Demo Day but still could get $$$
- House bill would curb new regulation of e-cigarettes, cigars