Facebook (FB) Surprises Wall Street; Medivation (MDVN) Becomes Takeover Target

Facebook_FB

The price of Facebook, Inc. (Nasdaq:FB) stock soared to touch an all-time high in after-hours trading Wednesday as the social networking company delivered a great start to the year in its financial results with quarterly profit and revenue numbers well-above Wall Street analysts’ forecasts

For the first quarter 2016, Facebook posted revenue of $5.38 billion, a 51.9% increase year over year, and non-GAAP net income of $2.23 billion, or $0.77 per diluted share, compared to non-GAAP net income of $1.19 billion, or $0.42 per diluted share in the same quarter the prior year, easily surpassing the Capital IQ Consensus Estimate of $0.62 earnings per share on revenues of $5.26 billion for the period

FB stock finished the regular session at $108.89, up $0.13 (or +0.12%), with a total of 52,213,107 shares traded during the day

Facebook, engaged in developing products that enables users to connect and share through mobile devices and personal computers, has 2.38B Shares Outstanding, Market Capitalization (intraday) of $319.41B and FB stock 52-week range is between $72.00 and $117.59 per share

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Medivation_MDVN

French pharma giant Sanofi (NYSE:SNY) said that it has sent a letter to Medivation, Inc. (Nasdaq:MDVN) in which it makes a non-binding proposal to acquire the American biopharmaceutical company for $52.50 per share, representing a $9.3 billion deal

MDVN stock closed at $52.05, up $0.23 (or +0.44%), and 2,225,785 of its shares exchanged hands on Wednesday’s trading session

Medivation, which is focused on the development and commercialization of medically innovative therapies to treat serious diseases, has 164.23M Shares Outstanding, Market Capitalization (intraday) of $8.55B and MDVN stock one-year range is from $26.41 to $66.40 per share

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