Career News 24/7: Before the Bell: Merck & Co sells consumer unit to Bayer for $14 billion

Tuesday, May 6, 2014

Before the Bell: Merck & Co sells consumer unit to Bayer for $14 billion

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05/6/2014

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Merck & Co sells consumer unit to Bayer for $14 billion

(Reuters) - Merck & Co Inc has agreed to sell its consumer care business to Germany's Bayer AG for $14.2 billion, the companies said on Tuesday, adding to a string of major cross-border healthcare deals.

Wall Street set to open slightly lower, indexes near record

NEW YORK (Reuters) - Wall Street was set for a slightly lower open on Tuesday as investors hesitated to push the market higher, with major indexes near record levels.

U.S. trade deficit narrows in March, exports bounce back

WASHINGTON (Reuters) - The U.S. trade deficit narrowed in March as exports rebounded, but the improvement was probably not enough to help first-quarter growth.

U.S. economy to see faster growth after winter freeze: OECD

WASHINGTON (Reuters) - U.S. economic growth is set to rebound strongly in the second quarter as the scars of a brutally cold winter fade, but inflation pressures will remain tame through 2015, according to the Organization for Economic Cooperation and Development.

Barclays earnings hit by sharp fall in investment bank

LONDON (Reuters) - Barclays Plc said a collapse in investment bank revenue had hit first-quarter profit and was still hurting income in April, throwing a spotlight on an overhaul of the flagging business due to be unveiled in two days by the British bank.

Office Depot to close 400 U.S. stores, shares rise

(Reuters) - Office Depot Inc raised its forecast for full-year adjusted operating income and said it would close at least 400 stores in the United States over two years, sending the office supply retailer's shares up about 10 percent before the bell.

Wells Fargo releases two new credit cards aimed at high spenders

(Reuters) - Wells Fargo & Co, trying to increase its credit card market position, said it is issuing two new credit cards through a partnership with American Express Co in its latest effort to woo more wealthy customers.

In fight with Pfizer, AstraZeneca promises sales surge - eventually

LONDON (Reuters) - AstraZeneca Plc laid out its defense against Pfizer Inc's $106 billion takeover approach on Tuesday by predicting its revenues would rise 75 percent over the next decade, although only after a short-term drop.

DirecTV adds fewer U.S. subscribers in first-quarter

(Reuters) - DirecTV , the No.1 U.S. satellite TV provider, reported fewer net customer additions in the United States in the first quarter due to a rise in disconnections.

Credit Suisse in talks to pay $1.6 billion to resolve U.S. tax probe: source

WASHINGTON/ZURICH (Reuters) - Credit Suisse Group AG is in talks with the U.S. Justice Department to pay as much as $1.6 billion to resolve an investigation into the bank's role in helping Americans evade U.S. taxes, a person familiar with the matter said.