Big drug deal; Costco gets tax boost; H&R Block loses business

Here are some of the stocks the Yahoo Finance team will be watching for you today.

A mega deal in the drug industry sending shares of Pharmacyclics (PCYC) soaring in early trading. The leukemia drugmaker is being bought by AbbVie (ABBV) for $21 billion in cash and stock. The deal will help AbbVie fill its medicine cabinet with more profitable cancer drugs. AbbVie walked away from its takeover of Irish based Shire (SHPG) last year after the U.S. took steps to prevent such tax deals.  AbbVie shares are lower in the pre-market.

Shares of Costco (COST) are up ahead of the open. The wholesale club operator reporting earnings that topped analysts' estimates... but revenue came in slightly short of forecasts. Profits jumped 29% thanks to tax benefits related to a special dividend and stronger-than-expected same-store sales.  Earlier this week, the company named Citigroup (C) and Visa (V) as its new credit card partners, replacing American Express (AXP).

Get the Latest Market Data and News with the Yahoo Finance App

H&R Block (HRB) shares are heading south in early trading. The tax preparation firm saying that through the end of February, filings by and through the company fell more than 4 percent from last year. H&R Block also reporting a narrower than expected loss in its fiscal third quarter thanks to the IRS opening its e-file system earlier this tax season.  But revenue came in below forecasts.

We're also keeping an eye on Apple (AAPL). The company is reportedly postponing production of its larger iPads, due to delays with the supply of display panels. The Wall Street Journal also says Apple is considering adding faster technology and USB ports to the iPad.