Market Movers Today: Akorn, Inc. (AKRX), Akcea Therapeutics Inc (AKCA), Macy’s Inc (M), AutoZone, Inc. (AZO), and More

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Akorn, Inc. (NASDAQ:AKRX) (The Motley Fool)
What happened: Shares of Akorn, Inc. (NASDAQ:AKRX), a specialty generic pharmaceutical company, are getting hammered after the company disclosed an investigation that could derail the company’s planned acquisition by Fresenius Medical Care AG & Co. (NYSE:FMS). The stock was down about 32.6% as of 11:17 a.m. EST on Tuesday. So what: Last April, Fresenius agreed to acquire Akorn for $34 per share, which was a steep premium to the stock’s price during the weeks leading up to the announcement.

Akcea Therapeutics Inc (NASDAQ:AKCA) (Benzinga)
Akcea Therapeutics Inc shares fell 29.5 percent to $15.92 as the company posted a wider-than-expected quarterly loss. Cowen & Co. downgraded Akcea Therapeutics from Outperform to Market Perform, while Wells Fargo downgraded the stock from Outperform to Market Perform.

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Macy’s Inc (NYSE:M) (TheStreet)
Macy’s Inc. (M) stock soared nearly 12% to $30.70 after the opening bell, then slipped to $28.55 by 11:28 a.m. ET, on Tuesday, Feb. 27, after the retailer released strong fourth-quarter earnings. The company reported operating income of $1.21 billion, or 14% of sales, compared with $815 million or 9.6% of sales, for 2016’s fourth quarter. The company also reported a bump in cash flow year over year. Macy’s posted revenue of $8.67 billion instead of the expected $8.68 billion, but 1.8% up year over year; earnings per share of $2.82 versus the expected $2.71; and a same-store sales rise of 1.3% versus expected growth of 0.1%.

Comcast Corporation (NASDAQ:CMCSA) (CNBC)
Comcast – Comcast offered to buy British broadcaster Sky for $31 billion, in a challenge to 21st Century Fox. The NBCUniversal parent’s per-share offer is about 16 percent higher than Fox’s prior agreement to buy the portion of Sky that it doesn’t already own. NBCUniversal is the parent of CNBC.

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