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Etsy Files IPO; AbbVie Pharma Deal and Costco Profits Higher

3/05/15 7:31 AM EST
Girl favorite shopping destination Etsy has filed for an IPO of up to $100 million while Chicago-based AbbVie is set to buy another company called Pharmacyclics and Costco profits were up 29%, helped by a hefty tax boost. The online destination for homemade crafts, arts and jewelry, Etsy started in 2005, aims to raise 100 million with its move to start trade as a public company. Most of its revenue comes from sellers who pay a fee to list items for sale. It will list on the Nasdaq under the ticker symbol ETSY. Abbvie is boosting its cancer treatment pipeline with its 21 billion dollar purchase of Pharmacyclics. Until recently, Abbie's blockbuster drug was Humira, which treats rheumatoid arthritis, and was a big revenue driver. But with a forecasted sales decline a few years out, Abbvie is working to boost its pipeline with this deal. Costco saw a boost in its latest earnings report card thanks to a tax boost. Numbers were better than-expected thanks to a tax benefit related to its special cash dividend last month. Net income rose to a better than expected $1.35 per share, up from $1.05 in the same period a year ago.
Stocks in this video: COSTPCYCABBV
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