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Samsung claims record Galaxy S8 preorders in first launch after Note 7External Link

Samsung Electronics announced Monday that it received record preorders for the Galaxy S8 and Galaxy S8+, marking its first successful launch since it recalled the Note 7 in the fall of 2016. Orders for Samsung's newest premium-tier smartphones increased more than 30% year-over-year compared with the Galaxy S7, said Tim Baxter, chief operating officer of Samsung Electronics America. The phone, which officially hit store shelves on Friday, marks Samsung's first mobile device launch since the Galaxy Note 7, which was launched last August but was recalled a few weeks later when the phone began to burn up and explode, due to a faulty battery. Despite the recent product issues, shares of Samsung have gained more than 8% in the past three months and 61% in the past year. The S&P 500 , by comparison, has gained 4% in the past three months and 13.5% in the past year. Shares of Apple Inc. , which is set to release its own set of new premium-tier smartphones to compete with the Galaxy S8 in September, have gained 18% in the past three months and 37% in the past year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Mon, 24 Apr 2017 22:31:03 GMT
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KMG Chemicals to buy Flowchem for $495 millionExternal Link

KMG Chemicals Inc. said late Monday it will acquire pipeline performance chemicals company Flowchem from Arsenal Capital Partners. KMG said it will buy Flowchem for $495 million in cash. Flowchem makes products that reduce the drag of liquids like crude oil in pipelines. The company expects the deal to close in mid-June. Shares of KMG were flat at $45.09 after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Mon, 24 Apr 2017 22:21:42 GMT
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Tyson looking to sell off non-meat based brandsExternal Link

Tyson Foods Inc. said late Monday it is exploring the sale of some of its "non-protein" brands. The company, known for its chicken, pork, and beef products, said it is looking to sell its Sara Lee frozen bakery business, its Kettle frozen food business, and its Van's frozen waffle and breakfast cereal business to focus more on its protein products. "Through our ongoing strategic planning process, we're continuously looking at ways to maximize the effectiveness and growth potential of our protein-based portfolio of products," said Tom Hayes, president and CEO of Tyson Foods, in a statement.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Mon, 24 Apr 2017 21:19:08 GMT
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Germany's Fresenius Kabi to buy Akorn for $4.3 billionExternal Link

Germany-based Fresenius Kabi will buy Akorn Inc. for $34 a share, plus the assumption of roughly $450 million of debt, for a deal valued at $4.3 billion, the companies said Monday. The deal is expected to close by early 2018 and will add to Fresenius Group's earnings in 2018. Fresenius Kabi specializes in injectable medicine while Akorn is a generic drug maker. Shares of Akorn rose 0.4% after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Mon, 24 Apr 2017 21:13:43 GMT
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Express Scripts shares drop 11% as Anthem unlikely to renew contract External Link

Express Scripts Holding Co. shares dropped in the extended session Monday after the pharmacy-benefits manager said insurer Anthem Inc. does not intend to renew a contract when it expires. Express Scripts shares, which had been halted, fell 11% to $60 after hours on heavy volume, following a 1.2% gain in the regular session. Express Scripts said Anthem does not intend to renew a services contact with the company when it expires at the end of 2019 but has not received official notice of the decision. The company said Anthem accounted for $15.15 billion out of 2015's $101.75 billion in revenue. Express Scripts reported adjusted first-quarter earnings of $1.33 a share on revenue of $24.65 billion. Analysts surveyed by FactSet had estimated earnings of $1.32 a share on revenue of $25 billion. For the year, Express Scripts sees earnings of $6.90 to $7.04 a share, up from its previous forecast range of $6.82 to $7.02 a share. Analysts expect earnings of $6.93 a share.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Mon, 24 Apr 2017 21:01:00 GMT
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