Business Today: Novartis and GSK trade assets as pharma industry reshapes

		Click to View in Browser 04/22/2014 Novartis and GSK trade assets as pharma industry reshapes ZURICH/LONDON (Reuters) - Novartis and GlaxoSmithKline traded over $20 billion worth of assets on Tuesday, aiming to bolster their best businesses and exit weaker ones as the drugs industry reshapes to cope with healthcare spending cuts and generic competition. GM seeks court protection against ignition lawsuits (Reuters) - General Motors Co filed a motion in a U.S. bankruptcy court to enforce a bar on lawsuits related to ignition defects in cars sold before its 2009 bankruptcy as it fights a class action lawsuit that seeks to set aside the restriction. Valeant offers to buy Botox maker Allergan for $47 billion (Reuters) - Canada's Valeant Pharmaceuticals International Inc said on Tuesday it has offered to buy Botox maker Allergan Inc for roughly $47 billion in a move to expand its skin and eye-care portfolio. United Tech posts profit ahead of Street, more bullish on 2014 (Reuters) - United Technologies Corp reported a lower quarterly net profit on Tuesday, weighed down by restructuring costs, but the diversified manufacturer's profit and revenue topped Wall Street's forecast. Futures flat, but Netflix jumps in premarket NEW YORK (Reuters) - U.S. stock index futures were flat on Tuesday as investors found few reasons to continue buying after a five-day rally in the S&P 500, though Netflix jumped following its earnings results. Lockheed boosts profit 23 percent, lifts '14 outlook WASHINGTON (Reuters) - Lockheed Martin Corp , the Pentagon's largest supplier, on Tuesday reported a 23 percent jump in operating profit and earnings per share in the first quarter, and raised its earnings outlook for the full year by 25 cents. Comcast's profit rises; company adds video subscribers (Reuters) - Comcast Corp, the largest U.S. cable operator, posted higher first-quarter revenue and net income on Tuesday showing it could add video subscribers for two quarters in a row, a rare sight in the cable industry. McDonald's profit falls as U.S. same-restaurant sales slip (Reuters) - McDonald's Corp posted a lower quarterly profit on Tuesday as sales at the fast-food chain's established U.S. restaurants fell more than expected on fewer customers. Harley-Davidson posts higher-than-expected profit (Reuters) - Harley-Davidson Inc posted a stronger-than-expected quarterly profit on Tuesday, lifted by strong sales growth outside its core North American market, and its shares rose more than 7 percent. Apparel retailer Bebe warns on results as sales slide (Reuters) - Women's apparel retailer Bebe Stores Inc warned of a bigger-than-expected quarterly loss as extremely cold weather in parts of the United States cut sales. Related Video Breakingviews: Man United crisis has a silver lining Why closing the gap in China premium auto race won't be easy Economic News Leading economic indicators rise in March Jobless rate still good gauge of slack: Fed study A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend