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Company News for Dec 4, 2019

Zacks Equity Research
  • UnitedHealth Group Inc.’s UNH shares fell 1% after the company declared that its full year 2020 adjusted earnings per share will be in the range of $16.25-$16.55. Its mid-point of $16.40 lagged the current Zacks Consensus Estimate of $16.44.
  • PepsiCo Inc. PEP dropped 0.3% after the company decided to acquire BFY Brands Inc. for an undisclosed sum.
  • Shares of Cleveland-Cliffs Inc. CLF plunged 10.7% following its decision to acquire AK Steel Holding Corp. AKS for a consideration of $1.1 billion in an all-stock deal.
  • Audentes Therapeutics Inc. BOLD jumped 106% following news that Japan’s Astellas Pharma Inc. will acquire the company for a consideration of $3 billion in cash.

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