Micron and Intuitive Surgical jump while Constellation skids
NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday:
Constellation Brands Inc., down $21.40 to $150.94
The Corona maker said it expects wine and spirits sales to fall in the current fiscal year.
Akorn Inc., down 46 cents to $3.48
The drugmaker said regulators sent it a warning letter after inspecting a manufacturing facility in Illinois.
Two home builders with large Charleston-area footprints to combine in $5.7B deal
Two big rival companies that are constructing homes in nearly two dozen developments throughout the Charleston region are combining their operations.
Miami-based Lennar Corp. announced Monday it is acquiring CalAtlantic Group Inc. for $5.7 billion in a deal that will create the nation's largest builder of new homes. The buyout comes as sales for the industry have climbed to a decade-high level.
Lennar buys CalAtlantic for $5.7B with housing sales red hot
NEW YORK (AP) — Lennar is buying CalAtlantic Group in a $5.7 billion deal that will create the nation's largest homebuilder as sales of new homes reach levels not seen in a decade.
The acquisition, which is worth more than $9 billion if $3.6 billion in debt is included, creates a company with a footprint in 21 states. The companies had $17 billion in revenue over the last 12 months.