Nike Kicks Into Gear, Cruise Gets Clobbered and Merck's Big Buy
With a $48M domestic debut, "The Fault in Our Stars" beat the "Edge of Tomorrow" by nearly $20M at the box office last weekend. The teen cancer drama had a mere $12M budget compared to the Tom Cruise thriller which cost approximately $175M. Meanwhile, pharma giant Merck announced its plan to buy Idenix Pharmaceuticals for about $3.85B Monday. Merck will pay $24.50 a share in cash or nearly triple Idenix last closing price. Finally, the World Cup kicked off this week in Brazil and that’s good news for Nike which is betting big on both the teams and their stars. Nike designed uniforms for 10 of the 32 national squads playing in the World Cup, more than ever before.