News Summary

Shares of Patterson Companies Inc (NASDAQ: PDCO) fell about 0.2% after the company announced its plans to lift its quarterly dividend from $0.10 per share to $0.12 per share. The company also plans to repurchase 25 million shares, worth about $786 million.

Shares of Covidien PLC (NYSE: COV) dropped about 0.2% after the company announced the retirement of its Chief Executive Richard Meelia. Meelia will retire in July but will serve as the non-executive chairman of the company's board for one year. COV named Jose Almeida, head of the healthcare company's medical devices segment, as its new Chief Executive.

Shares of Apple Inc (NASDAQ: AAPL) dropped about 1.2% after JMP Securities analyst Alex Gauna downgraded the stock from “market outperform” to “market perform.” He also lowered Apple's Q2 earnings target from $5.49 per share to $5.10 per share.

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