Forest Laboratories, Inc. (FRX) Flies High on Acquisition Announcement

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After a long weekend, starting off the week strong on Wall Street are Forest Laboratories, Inc. (NYSE:FRX), Myriad Genetics, Inc. (NASDAQ:MYGN) and Global Eagle Acquisition Corp (NASDAQ:ENT), today’s midday gainers. The losers are dELiA*s, Inc. (NASDAQ:DLIA), Atlas Energy LP (NYSE:ATLS) and Atlas Pipeline Partners, L.P. (NYSE:APL).

Forest Laboratories Soars

Forest Laboratories, Inc. (NYSE:FRX) is up +29.22% following news that it has acquired Actavis, a Dublin-based competitor (NYSE:ACT). The $25 billion deal will be highly beneficial for FRX’s investors, including Carl Icahn, who holds 30.66 million shares (6.04% of his fund), and Ray Dalio. FRX is also a constituent of the iBillionaire Index.

At a distant but enviable second is Chase Coleman pick Myriad Genetics, Inc. (NASDAQ:MYGN), its price increasing +9.8%. The U.S. drug maker posted excellent revenues last quarter, reaching $204.1 million and soaring 37% year-over-year. Full-year revenues have now been updated to $740-750 million. Myriad made public the acquisition of biotech company Crescendo Bioscience to boost its protein-based product offering earlier this month.

Up +8.52% at midday, Global Eagle Acquisition Corp (NASDAQ:ENT) rounds out today’s list of gainers. A provider of in-flight video content and e-commerce for airlines, this George Soros bet announced a new COO today.

Atlas Fails to Impress

On the negative side is dELiA*s, Inc. (NASDAQ:DLIA). The women’s clothing retailer, a pick for both Leon Cooperman and Coleman,  slipped -8.84%. This comes on the heels of Q4 2013 results revealing a -34.2% revenue decline from the same period in 2012. Margins fell steeply as well, from 29.6% to 7.5% quarter-over-quarter.

In second and third place today are Atlas Energy LP (NYSE:ATLS) and Atlas Pipeline Partners, L.P. (NYSE:APL), down -8.55% and -8.12%, respectively. Both Cooperman bets, the companies are dedicated to the exploration and development of oil and gas wells. APL reported its results yesterday, including increases in revenues and production numbers. Apparently, investors remain hesitant about the Atlas group as a whole.

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