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Stock Market & Financial Investment News

News For ENDP;COV;ABT;ACT;TEVA From The Last 14 Days
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September 23, 2014
06:40 EDTACTPiper says don't dismiss potential Pfizer bid for Actavis
Piper Jaffray says it would not be dismissive of Pfizer (PFE) as a potential acquirer of Actavis (ACT). Piper believes Pfizer's public M&A comments are supportive of Actavis' exposure to complex generics and emerging markets. The firm views Actavis shares as attractively valued, irrespective of the acquisition chatter. It reiterates an Overweight rating on the stock with a $280 price target.
06:28 EDTABTTreasury rules may put Mylan deal at risk, says BMO Capital
BMO Capital believes Treasury's new inversion rules may put the tax benefits of Mylan's (MYL) planned acquisition of Abbott's (ABT) established products business at risk. BMO also thinks the rules impact Salix's (SLXP) pending deal for Cosmo Pharmaceuticals, which it feels may help make a deal with Allergan (AGN) more likely.
05:56 EDTCOV, ABTTreasury, IRS announce plans to reduce inversion tax benefits
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September 22, 2014
20:01 EDTENDPEndo management to meet with Sterne Agee
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19:03 EDTACTAllergan rejected buyout bid from Actavis, in advanced talks for Salix, WSJ says
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10:15 EDTACTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actavis (ACT) downgraded to Equal Weight from Overweight at Barclays... Aetna (AET) downgraded to Neutral from Buy at BofA/Merrill... Auxilium (AUXL) downgraded to Hold from Buy at Stifel... CARBO Ceramics (CRR) downgraded to Neutral from Buy at Sterne Agee... Commerzbank (CRZBY) downgraded to Underperform from Neutral at Exane BNP Paribas... Concur (CNQR) downgraded to Neutral from Buy at Nomura... Dresser-Rand (DRC) downgraded to Neutral from Accumulate at Global Hunter... Finish Line (FINL) downgraded to Equal Weight from Overweight at Morgan Stanley... General Communications (GNCMA) downgraded to Hold from Buy at Drexel Hamilton... InvenSense (INVN) downgraded to Neutral from Outperform at RW Baird... Las Vegas Sands (LVS) downgraded to Market Perform from Outperform at Wells Fargo... Lindsay Corp. (LNN) downgraded at Sterne Agee... Melco Crown (MPEL) downgraded to Market Perform from Outperform at Wells Fargo... Outerwall (OUTR) downgraded to Sell from Neutral at B. Riley... PSEG (PEG) downgraded to Hold from Buy at Jefferies... Realogy (RLGY) downgraded to Underperform from Neutral at Credit Suisse... Regal-Beloit (RBC) downgraded to Accumulate from Buy at Global Hunter... SABMiller (SBMRY) downgraded to Market Perform from Outperform at Bernstein... Saba Software (SABA) downgraded to Neutral from Buy at B. Riley... Suburban Propane (SPH) downgraded to Market Perform from Outperform at Wells Fargo... Swiss Re (SSREY) downgraded to Underperform from Neutral at Exane BNP Paribas... Towers Watson (TW) downgraded to Buy from Conviction Buy at Goldman... Valmont (VMI) downgraded at Sterne Agee... Walgreen (WAG) downgraded to Equal Weight from Overweight at Barclays... Watts Water (WTS) downgraded to Neutral from Buy at Janney Capital... Wynn Resorts (WYNN) downgraded to Market Perform from Outperform at Wells Fargo... Yahoo (YHOO) downgraded to Neutral from Buy at BofA/Merrill.
09:40 EDTENDPEndo says continues to feel Auxilium transaction 'compelling'
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08:10 EDTACTActavis multiple expansion case 'compelling,' says JPMorgan
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07:11 EDTENDPQLT Inc. says, Auxilium determines Endo proposal not superior
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07:10 EDTENDPQLT Inc. says, Auxilium determines Endo proposal not superior
07:06 EDTABTAbbott price target raised to $48 from $44 at RBC Capital
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07:02 EDTENDPAuxilium board determines QLT Inc.'s agreement superior to Endo proposal
Auxilium (AUXL) announced that its board has reviewed the unsolicited, non-binding and conditional proposal from Endo (ENDP) and, after consulting with its independent financial and legal advisors, has unanimously determined it is not a superior proposal under the terms of its existing merger agreement with QLT Inc. (QLTI) and has unanimously reaffirmed its recommendation that Auxilium's stockholders vote in favor of the adoption of such merger agreement. In addition, the board has determined that Endo's proposal significantly undervalues Auxilium. However, under the terms of the merger agreement with QLT, Auxilium maintains the right to engage in discussions with Endo and other third parties, subject to certain conditions in the merger agreement. In unanimously reaffirming its recommendation that Auxilium's stockholders vote in favor of the adoption of the existing merger agreement with QLT, the board confirmed that it is not withdrawing, modifying, withholding, changing or qualifying its recommendation with respect to such merger agreement, or proposing to do so.
05:52 EDTACTActavis downgraded to Equal Weight from Overweight at Barclays
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September 19, 2014
16:24 EDTENDPStocks rise after Fed keeps pledge for 'considerable time' before rate hike
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14:18 EDTACTAkorn competition settlement over VersaPharm deal approved by FTC
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11:25 EDTCOV, ABTSenators bring bill requiring companies to settle before inverting
U.S. Senators Sherrod Brown and Dick Durbin announced new legislation requiring corporations to "Pay What You Owe Before You Go" – settling their U.S. tax bill before relocating to a foreign country. "Everyone knows that before you leave a restaurant you have to settle your tab," Brown said. "Corporations shouldn’t get to play by different rules. While it is critical that we reach a long-term solution that reforms our international corporate tax code by implementing a global minimum tax and reducing the statutory tax rate, this bill is an immediate, commonsense measure to ensure businesses settle up before leaving the U.S." Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Allergan (AGN).
September 18, 2014
20:23 EDTENDPAuxilium downgraded to Neutral from Buy at Goldman
Goldman Sachs downgraded Auxilium (AUXL) to Neutral citing a balanced risk/reward following the post-Endo (ENDP) takeover bid rally. The firm raised its price target for shares to $31 from $28.
11:15 EDTENDPRepros sinks after panel backs tests for testosterone therapies
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07:50 EDTENDPEndo Auxilium deal would be disappointing over longer term, says Cantor
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06:10 EDTENDPFDA panel votes 20-1 to study changes to testosterone therapies
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