Arena Pharmaceuticals (NASDAQ:ARNA) scored a major coups today, winning the Food and Drug Administration’s approval of its weigh-loss pill locrcaserin, which with the decision becomes the first obesity medication cleared for sale in the U.S. in 13 years. Trading was halted after the news release. Shares are now up over 28% at $11.35 per share.
Zynga (NASDAQ:ZNGA): The world’s foremost provider of social gaming, Zynga, engaged in a publishing agreement with Majesco Entertainment Company (NASDAQ:COOL). In the deal, Majesco’s most recent social game, ‘Mini Putt Park’, will be published by Zynga. The game, which is currently offered in its beta phase on Facebook, is slated to launch in its full version this summer. It will be featured on Facebook and on Zynga.com.
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Sara Lee Corporation (NYSE:SLE) will spin-off into newly named Hillshire Brands and intends to make innovative improvements, in preparation for debut as a publicly traded company. Hillshire Brands, the makers of Jimmy Dean sausage and Ball Park Franks, will adapt new strategies to enter the gourmet foods market with new product lines. With a variety of companies rumored to be interested in purchasing Hillshire Brands, there is speculation about whether the company will have adequate time to launch its reinvention.
News Corp. (NASDAQ:NWSA): Bloomberg is reporting that Rupert Murdoch could potentially boost returns for News Corp. shareholders by at least 32%. According to their data, News Corp. has risen 8.3% on the news but is valued at 10% lower to media stocks in comparison to earnings. Shares could receive a boost if News Corp. removes the entertainment from the news.
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