Morning Buzz: Apple (AAPL), Valeant (VRX), KaloBios Pharma (KBIO), EMC Corporation (EMC)

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Apple Inc. (AAPL) – AppleInsider reports that after years of trials, retrials and appeals Samsung has agreed to pay Cupertino $548 million for infringing on Apple’s patents.

In a statement submitted to the U.S. District Court for the Northern District of California, Samsung said it “has made arrangements” with Apple to complete a damages payment totaling $548,176,477.

Shares of Apple are up 1.15% to $116.50 in morning trading Friday.

Shares of Valeant Pharmaceuticals International, Inc. (VRX) are higher by 2.07% to $95.60 in morning trading on Friday following a NY Post report saying that Valeant’s Chief Executive Michael Pearson will not be asked to testify at next week’s Senate subcommittee hearing on drug pricing.

KaloBios Pharmaceuticals, Inc. (KBIO) shares surged as much as 25% in early trading after the company announced it would acquire a benznidazole program for the treatment of Chagas Disease (a parasitical infection transmitted by insects known as ‘kissing bugs’) from privately-held Savant Neglected Diseases LLC for an upfront payment of $2 million, as well as milestone and royalty payments.

EMC Corporation (EMC) – The name was upgraded to ‘Outperform’ from ‘Underperform’ at Credit Agricole.

Shares of EMC Corp are up $0.22, or 0.84%, at $25.79 in early trading.

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