Alfa agreed to a going-private deal with its majority shareholder, Alfa Mutual. The deal will pay Alfa investors $22 a share, a 26% premium over Friday's closing price. The purchase has a total value of $840 million. Shares of Alfa, an insurance concern, were up $3.99 to $21.51.
(CAH - Get Report)
shed nearly 7% after the medical-products distributor warned of weakening results at its biggest unit. For the third quarter, Cardinal posted adjusted earnings from continuing operations of $318 million, or 86 cents a share, matching estimates. The company also backed its outlook for the full year.
Cardinal said, however, that its health care supply chain services-pharmaceutical segment is expected to have a full-year profit below its long-term goal of 7% to 10% growth. Mark Parrish, who led that division, is leaving the company immediately, Cardinal said. Shares were sliding $4.26 to $62.65.
Nu Skin Enterprises
(NUS - Get Report)
dropped 7.9% after the company's revenue outlook disappointed investors. The company, a maker of personal care and nutritional products, posted third-quarter earnings of $13.5 million, or 21 cents a share, including 5 cents a share in one-time costs tied to a distributor convention. Revenue totaled $290.7 million. Analysts expected earnings of 23 cents a share and revenue of $287 million.
Looking ahead, Nu Skin projected fourth-quarter revenue of $295 million to $300 million, below Wall Street's forecast of $302 million. For 2008, the company anticipates revenue of $1.18 billion to $1.2 billion, also shy of analysts' $1.22 billion projection. The stock was down $1.34 to $15.62.