Pacific Biosciences (PACB) Takeover Noise; Fabrinet (FN) Surpasses Estimates

Pacific_Biosciences_PACB

The price of Pacific Biosciences of California, Inc. (Nasdaq:PACB) stock soared more than 37% to touch the $13.98 mark – just $0.02 below its 52-week high – during Tuesday’s trading session, following a report by Reuters indicating that pharmaceutical giant Roche Holding AG (OTCMKTS:RHHBY) is eyeing the acquisition of the company

PACB stock closed at $12.67, up $2.48 (or +24.34%), and 8,381,228 of its shares exchanged hands during the day

Pacific Biosciences of California, which designs, develops, manufactures, and markets an integrated platform for genetic analysis, has 77.04M Shares Outstanding, Market Capitalization (intraday) of $976.11M and PACB stock one-year range is from $3.58 to $14.00 per share

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Fabrinet_FN

Shares of Fabrinet (NYSE:FN) climbed to reach a new one-year high in intraday trading Tuesday after the company delivered quarterly profit and revenue above Wall Street analysts’ projections.

For its second quarter fiscal 2016, Fabrinet posted revenue of $233.0 million, a 24% increase year over year, and non-GAAP net income of $18.2 million, or $0.50 per diluted share, compared to non-GAAP net income of $14.4 million, or $0.40 per diluted share, exceeding the Capital IQ Consensus Estimateof $0.46 earnings per share on revenues of $220.96 million for the period

FN stock finished the regular session at $28.02, up $2.93 (or +11.68%), with a total volume of 2,305,885 shares traded

Fabrinet, a provider of advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services, has 35.78M Shares Outstanding, Market Capitalization (intraday) of $1.00B and FN stock new 52-week range is between $16.02 to $29.24 per share

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