Stocks Swing on Declaration: AbbVie Inc. (NYSE:ABBV), Rock-Tenn Company (NYSE:RKT), Ericsson (NASDAQ:ERIC)

April 25, 2023 10:35 am43 commentsViews: 70

AbbVie Inc. (NYSE:ABBV) released that TURQUOISE-III study results demonstrating 100% sustained virologic response at 12 weeks post-treatment in genotype 1b (GT1b) chronic hepatitis C virus infected adult patients by means of compensated liver cirrhosis. TURQUOISE-III is a multi-center, open-label Phase 3b study to evaluate the safety and efficacy of 12 weeks of treatment with VIEKIRAX + EXVIERA with no ribavirin in adult patients with genotype 1b chronic hepatitis C virus infection and compensated liver cirrhosis who were treatment-naïve or treatment-experienced. The primary endpoint is the rate of sustained virologic response 12 weeks after treatment. The company reported no patients experienced virologic failure during treatment and no patients experienced virologic relapse following the end of treatment. On the other consideration, AbbVie Inc. (NYSE:ABBV) begun last trade with a price of $70.52 and throughout the trading session climbed at $70.75. The day-trade ended with a loss of -1.14% to close at $69.22.

Rock-Tenn Company (NYSE:RKT) released that preliminary results of the elections made by its shareholders as to the form of merger consideration they wish to get in connection by means of the combination of RockTenn and MeadWestvaco Corporation (MWV) into WestRock firm. Rock-Tenn released that about 63.8% of the outstanding shares of its common stock, elected to receive the stock consideration, or the right to receive one fully paid and nonassessable share of WestRock common stock, for each share of RockTenn common stock. Approximately 10.0% of the outstanding shares of RockTenn common stock elected to receive the cash consideration. The company said, based on the preliminary results, the cash consideration option is expected to be oversubscribed. Rock-Tenn Company (NYSE:RKT) stock hit highest price at $63.93, beginning with a price of $63.11  to close at 62.69 by a decrease of -1.04% with a day range of $62.69-$63.93.

Ericsson (NASDAQ:ERIC) released that its worldwide cost and efficiency program, released at the firm’s Capital Markets Day on November 13, 2014, is progressing according to plan. Ericsson added, as the next step of this activity, individuals on different locations in Sweden have been given notice during June. In total, there will be a reduction of around 2,100 positions, with some 1,700 employees leaving the company. Ericsson said savings related to the global cost and efficiency program will start to impact results towards the end of 2015. Shares of Ericsson (NASDAQ:ERIC) opened at $11.13 with 3278.56 million outstanding shares and hit to its highest price of $11.14 during the day and finally closed at $10.99 by scoring -2.57%. In the whole session, it traded on volume of 2.13 Million shares, which turned higher than its average volume.


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