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SAN FRANCISCO (MarketWatch) — Shares of Biogen Idec Inc. and Elan Corp. dropped in after-hours activity Thursday following a Securities and Exchange Commission filing stating their multiple sclerosis drug Tysabri was linked to two new cases of a rare and often fatal brain inflammation. Shares of Biogen Idec fell 16% to $58.60 and […]

SAN FRANCISCO (MarketWatch) — Shares of Biogen Idec Inc. and Elan Corp. dropped in after-hours activity Thursday following a Securities and Exchange Commission filing stating their multiple sclerosis drug Tysabri was linked to two new cases of a rare and often fatal brain inflammation. Shares of Biogen Idec fell 21.2% to $22.83 and Elan shares […]

SAN FRANCISCO (MarketWatch) — Moody’s Investors Service on Thursday revised Bristol-Myers Squibb Co.’s outlook to negative from stable and affirmed its A2 long-term and Prime-1 short-term ratings after the pharmaceutical company offered to buy ImClone Systems for $4.5 billion. “The proposed ImClone acquisition would nicely strengthen Bristol’s oncology platform. However, cushion in Bristol’s […]

SAN FRANCISCO (MarketWatch) — ImClone Systems Inc. late Thursday confirmed it received an offer from Bristol-Myers Squibb . However, other than stating that it is studying the “situation,” the company did not offer any other comments. Bristol-Myers Squibb has offered to buy the shares of ImClone that it does not already own for $60 […]

SAN FRANCISCO (MarketWatch) — CSX Corp. said late Thursday the third-party inspector of its board elections determined that four nominees backed by hedge funds The Children’s Investment Fund Management LLP and 3G Capital Partners Ltd. received more votes than CSX-backed nominees. CSX said that it hopes to resolve remaining issues concerning the vote before […]

SAN FRANCISCO (MarketWatch) — Wachovia Corp. said late Thursday that Chief Risk Officer Donald Truslow plans to retire once a successor is named. The bank plans to begin an immediate search for a replacement. Truslow joined the bank that grew into Wachovia in 1980. He served as Treasurer and Comptroller before becoming Chief Risk […]

SAN FRANCISCO (MarketWatch) — Standard & Poor’s said late Thursday it may downgrade the ratings of Marathon Oil Corp. on the company’s plan to split its upstream and downstream businesses into two independent companies. S&P has a BBB+ rating on Marathon. The rating agency said the current integration of the businesses provide synergies and […]

SAN FRANCISCO (MarketWatch) — Cognizant Technology Solutions Corp. late Thursday reported its second-quarter net income rose to $103.9 million, or 35 cents a share, from $82.3 million, or 27 cents a share, in the same quarter a year earlier. On an adjusted basis, earnings were 39 cents a share. Revenue increased to $685.4 million […]

SAN FRANCISCO (MarketWatch) — Morningstar Inc. said late Thursday that second-quarter net income was $28 million, or 57 cents a share, up 53% from a year earlier when the mutual fund rating specialist made $18.3 million, or 38 cents a share. Consolidated operating income was $41.6 million, or 84 cents a share, in the […]

SAN FRANCISCO (MarketWatch) - ComScore Inc. said Thursday its second-quarter net income rose to $2.58 million, or 9 cents a share, from $1.24 million, or break-even in the same period a year earlier. Reston, Virginia-based research firm comScore said revenue rose 34% to $27.8 million in the period ended in June. Analysts on average […]