Covance Inc. (NYSE:CVD), a drug development company, announced Q3 EPS in line with analyst estimates and revenues that surpassed expectations. The company reported Q3 adjusted EPS of $0.98, up from $0.83 in Q3 2013 and in line with analyst estimates of $0.98 for the quarter. Total revenues of $671.0 million were up from $647.0 million and topped analyst projections of $650.9 million.The company Q4 revenue in a range of $625 million to $635 million and diluted earnings per share of $0.95 to $0.98, which would bring full-year earnings per share to $3.78 to $3.81, down from previous guidance of $3.78 to $3.92. The update is related to the strengthening of the US Dollar since June 30, 2014, which is expected to decrease Q4 revenue by approximately US$20 million and diluted earnings per share by approximately $0.05 versus the prior expectation. Covance Inc. (NYSE:CVD) has announced plans to be acquired by LabCorp (LH), a provider of medical laboratory testing and services, for $105.12 per CVD share, or an enterprise value of approximately $5.6 billion. The boards of directors of both companies approved the transaction. Shares of CVD are trading within a 52-week range of $73.57 - $106.50. Shares of LH are at $109.29 within a 52-week range of $87.01 - $109.47.Trade Street Residential Inc (NASDAQ:TSRE), a real estate investment trust, reported higher Q3 funds from operations on the addition of new properties and said it has hired advisors to explore strategic alternatives for the company that may involve a sale or acquisition. Trade Street Residential Inc (NASDAQ:TSRE) swung to a net loss of $9.1 million, or $0.25 per diluted share compared to net income of $1.4 million, or $0.12 for the same period in the prior year. Analysts estimates weren't available. Core funds from operations for the third quarter of 2014 were $3.1 million, or $0.09 per diluted share, as compared to income of $0.1 million, or $0.01 per diluted share in the prior year period. The company added eight new properties since the same quarter last year.The company has hired JP Morgan and Morrison & Foerster to advise on options to boost shareholder value. "Such review will include (among other alternatives): a sale, merger, acquisition or other form of business combination; sale or acquisition of assets; or a debt or equity recapitalization," it said. Trade Street also said that effective November 3, Ryan Hanks has stepped down as chief operating officer and chief investment officer. Hanks will continue in a consulting capacity until completion of the Board of Directors review of strategic alternatives. The shares have a 52-week spread of $4.97 - $8.50.Isis Pharmaceuticals, Inc. (NASDAQ:ISIS) said it earned a $5 million milestone payment from GSK related to the designation of ISIS-GSK5 as a development candidate. ISIS-GSK5Rx is an antisense drug designed to treat an undisclosed ocular disease. The drug uses the unique properties of antisense to selectively reduce the production of a target known to be involved in various ocular diseases. Isis Pharmaceuticals, Inc. (NASDAQ:ISIS) is trading within a 52-week range of $22.25-62.66.
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