Valeant shares fall as CEO is subpoenaed in price probe
Valeant Pharmaceuticals shares dropped after CEO J Michael Pearson was subpoenaed by the Senate Aging Committee for its April 27 hearing on rising prescription prices. Valeant faces three federal probes, delays in filing 2015 results, and plans to sell noncore assets to curb debt while pressing for smaller price hikes.
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Pershing Square Capital Management
Laval
Quebec
Philidor
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Anbang Surges Ahead in Starwood Bid Battle
Anbang offers 15 billion to top Marriott for Starwood Hotels World Wide Inc. Starwood backs Marriott's bid while evaluating the Anbang proposal. Analysts doubt Marriott can top the price and timing of regulatory approvals. Starwood owns St. Regis New York among other properties and faces a crucial board decision.
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Westergren returns to Pandora as CEO
Pandora appoints co founder Tim Westergren as chief executive after Brian McAndrews leaves. Shares dropped sharply on the news, with Pandora closing down 12.21 percent at 9.60, as competition from Apple Music, Spotify and others intensifies. Westergren had led Pandora earlier from 2002 to 2004 and helped found the company 16 years prior. A spokeswoman did not comment.
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Oculus Rift begins shipping at six hundred dollars
Oculus begins shipping its six hundred dollar Rift headset marking the start of a new era in virtual reality. Reviewers praise the device’s potential while noting setup challenges and motion sickness users report. The headset requires a powerful PC and sits in a price range that pushes total costs beyond fifteen hundred dollars.
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Stocks and mixed in quiet trading as Easter week opens
U.S stocks wavered between gains and losses in a quiet session aided by Starwood and Marriott bid activity and Time Warner strength after Batman v Superman. Dow rose 19.66 to 17535.39, S&P 500 up 1.11 to 2037.05, Nasdaq down 6.72 to 4766.79 amid Easter closures and slow 2016 trading.
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