Stocks to Watch: Boron LePore Leaps, Gerber Childrenswear Drops
Updated from 2:16 p.m. EDT
LosersAbbott Laboratories (ABT) was dropping 9% to $47.06 after the company said the Food and Drug Administration determined that its Lake County, Ill., diagnostic manufacturing operations failed to meet the agency's quality standards. Beverly Enterprises (BEV) was falling 10% to $7.52 after the operator of nursing homes and assisted living centers said California regulators are investigating possible criminal charges against the company. In a filing with the Securities and Exchange Commission, Beverly said the probe is based in part on civil citations related to patient care issued by the California Department of Health Services involving incidents from 1998 to 2001. Most of the citations were resolved by paying civil penalties, and some are still being contested. Gerber Childrenswear (GCW) agreed to be acquired by Kellwood (KWD), and the target company was actually falling sharply. Gerber, which markets infant and toddler apparel and related products, was down 18% to $6.80 after selling out to Kellwood for $6.85 a share in cash and stock. Gerber closed Tuesday at $8.25, but according to the company's press release, this was probably the best option the company had. Kellwood, a marketer of apparel and recreational and camping products, was off 0.6% to $27.18. Drug manufacturer Schering-Plough (SGP) said in its quarterly filing with regulators that it has been informed that the Food and Drug Administration's office of criminal investigation in Puerto Rico has launched an inquiry into one or more of the company products. The company's shares were losing 9% to $25.80.
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