Monday Morning Movers (TEVA, QSFT, STZ)
Teva Pharmaceuticals (NYSE: TEVA): Teva traded up about 6.5% early in the session on Monday. Teva's patent for its drug Copaxone was upheld by a U.S. District Court. Momenta Pharmaceuticals (NADAQ: MNTA) challenged Teva's patent for its Multiple Sclerosis drug.
Dr. Jeremy Levin, Teva's President and Chief Executive Officer stated, “Teva is confident COPAXONE will remain a proprietary, global market leading product for the reduction of relapses in patients with RRMS over the product's lifecycle given the strength of its intellectual property rights.”
Quest Software (NASDAQ: QSFT): On Monday, Quest Software announced it had received a proposal from a strategic bidder to acquire all of the outstanding shares of Quest common stock for $27.50 per share in cash. Reuters reported that the bidder is Dell (NADAQ: DELL). Quest traded up about 5.5% early in the day on Monday.
Constellation Brands (NYSE: STZ): Constellation Brands, a producer and marketer of alcohol in the United States, traded up about 10% early on Monday. Anheuser-Busch InBev (NYSE: BUD) is in talks to take over Modelo, a Mexican brewer. Modelo brews Corona, and Constellations Brand is a distributer of Corona in the United States.
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