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Stock Market & Financial Investment News

News Breaks
April 14, 2014
07:45 EDTABBV, GILDAbbVie defended at BMO Capital
After data for AbbVie's (ABBV) HCV drug was reported, BMO Capital thinks the company's drug could be used to treat many cirrhotic HCV patients. The firm thinks that Abbvie's HCV drug could gain significant market share because of its lower cost compared with Gilead's (GILD) HCV drug. BMO Capital keeps an Outperform rating on AbbVie.
News For ABBV;GILD From The Last 14 Days
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July 11, 2014
11:33 EDTABBVShire, AbbVie held talks after latest raised takeover offer, Bloomberg says
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09:48 EDTGILDSenators make new request to Gilead for Sovaldi pricing details
Senate Finance Committee Chairman Ron Wyden and senior Finance Committee member Chuck Grassley made public their request for detailed pricing information on Gilead's Sovaldi, a Hepatitis C virus drug. Wyden and Grassley have asked Gilead Sciences for information about Sovaldi, a drug developed to treat and cure HCV, they disclosed, stating, “Given the impact Sovaldi’s cost will have on Medicare, Medicaid and other federal spending, we need a better understanding of how your company arrived at the price for this drug." Reference Link
07:37 EDTGILDAmerican Enterprise Institute holds a discussion
Discussion entitled, "How Will We Pay for Cost of Cures" focuses on improving the development of transformative medicines and developing financing mechanisms to pay for them and is being held in Washington, D.C. on July 11 at 8 am. Webcast Link
07:36 EDTGILDJohnson & Johnson Q2 EPS likely to exceed expectations, says Bernstein
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06:29 EDTABBVAbbVie encourages largest Shire shareholders to pursue talks, Bloomberg says
Shire (SHPG) is hearing from its largest shareholders who are encouraging the company to come to the table and work out an agreement with AbbVie (ABBV), according to Bloomberg, citing three people familiar with the matter. AbbVie is targeting Shire in a $51.1B takeover offer. Reference Link
July 10, 2014
09:40 EDTABBVAbbVie, Shire not holding talks at this point as deadline approaches, CNBC says
AbbVie (ABBV) and Shire (SHPG) are not holding talks at this point, according to CNBC's David Faber, citing sources. Shire confirmed two days ago that it has received AbbVie's latest, raised takeover offer and that its board will meet to consider the proposal.
July 9, 2014
16:01 EDTGILDOptions Update; July 9, 2014
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08:19 EDTABBVAbbVie offer may not bring Shire to negotiating table, says BMO Capital
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07:38 EDTABBVShire still has leverage, can get one more raise from AbbVie, Reuters contends
The selloff in shares of Shire (SHPG) and AbbVie (ABBV) yesterday following the latter's increased takeover offer suggests the market now expects a strong rebuttal from Shire, but "one plausible response" is a gently worded rejection that signals that another raised bid would be enough to secure a deal without a hostile play, contended Reuters Breakingviews columnists Neil Unmack and Robert Cyran. Shire’s board still has some leverage and can "probably extract one more increase in return for their recommendation," the authors believe. Reference Link
07:33 EDTGILDGilead on track to post Q2 revenue beat, says RBC Capital
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06:40 EDTABBVAbbVie required to retract comments in Shire takeover battle, Reuters says
AbbVie (ABBV) has been required to take back comments made by its CEO Richard Gonzalez regarding shareholder support for its offer for Shire (SHPG), according to Reuters, citing a statement from the U.S. drugmaker. British takeover rules say that a rival is not allowed to claim support for its bid unless it has this in writing from shareholders. Reference Link
July 8, 2014
16:23 EDTABBVOn The Fly: Closing Wrap
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12:48 EDTABBVOn The Fly: Midday Wrap
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09:36 EDTGILDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TSLA TWTR GILD EXXI FB MGM
09:15 EDTABBVOn The Fly: Pre-market Movers
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09:05 EDTABBVShire says board will meet to consider AbbVie proposal
Shire (SHPG) notes the announcement by AbbVie (ABBV) of a revised conditional non-binding proposal for a cash and share offer for Shire, comprising GBP 22.44 in cash and 0.8568 AbbVie shares per Shire share. "Shire confirms that AbbVie did not make the revised proposal to Shire before the announcement. The Board of Shire will meet to consider the proposal and a further announcement will be made in due course. Shareholders are strongly advised to take no action in relation to the AbbVie proposal. There can be no certainty that any firm offer will be made nor as to the terms on which any firm offer might be made. This statement is being made by Shire without the prior agreement or approval of AbbVie," Shire stated.
08:07 EDTABBVShire volatility expected to move on AbbVie increasing proposal
Shire (SHPG) volatility is expected to move on AbbVie (ABBV) announcing that it has increased its proposal to GBP 22.44 in cash and 0.8568 ordinary shares of new AbbVie for each Shire share. This new proposal is an approximately 11% increase from AbbVie's prior indicative proposal. Overall option implied volatility of 49 is above its 26-week average of 34 according to Track Data, suggesting large near term price movement.
07:55 EDTABBVAbbVie increases proposal for Shire to GBP 51.15 per share
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07:54 EDTABBVShire jumps 3% to $244 after AbbVie ups buyout offer for fourth time
07:53 EDTABBVAbbVie raises offer for Shire to 51.15 pounds per share
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