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Stock Market & Financial Investment News

News Breaks
September 24, 2012
10:25 EDTAGN, VPHM, TWX, RBCN, STR, PVH, LAMR, CTB, BODY, RHIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Allergan (AGN) upgraded to Outperform from Underperform at CLSA... Body Central (BODY) upgraded to Outperform from Perform at Oppenheimer... Cooper Tire (CTB) upgraded to Buy from Hold at Deutsche Bank... Lamar Advertising (LAMR) upgraded to Outperform from Market Perform at Wells Fargo... PVH Corp. (PVH) upgraded to Overweight from Neutral at Piper Jaffray... Questar (STR) upgraded to Buy from Neutral at UBS... Rubicon (RBCN) upgraded to Neutral from Sell at Goldman... Time Warner (TWX) upgraded to Overweight from Equal Weight at Morgan Stanley... ViroPharma (VPHM) upgraded to Outperform from Market Perform at Wells Fargo... Robert Half (RHI) upgraded to Buy from Neutral at BofA/Merrill.
News For AGN;BODY;CTB;LAMR;PVH;STR;RBCN;TWX;VPHM;RHI From The Last 14 Days
Check below for free stories on AGN;BODY;CTB;LAMR;PVH;STR;RBCN;TWX;VPHM;RHI the last two weeks.
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August 20, 2014
10:53 EDTAGNAnalysts say Salix takeover would boost Allergan
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09:46 EDTAGNAllergan merger deal not imminent, CNBC's Faber reports
An acquisition by Allergan (AGN) is not imminent, CNBC's David Faber reports. Salix (SLXP) and Jazz Pharmaceuticals (JAZZ) are said to be potential targets of the company, Faber adds. Valeant (VRX) could announce over the next few days that it has enough votes to call for a special meeting, the reported said.
07:19 EDTAGNPossible Allergan Salix deal could be 8% accretive in '15-'16, says Wells Fargo
After The Wall Street Journal reported that Allergan (AGN) had approached Salix (SLXP) and other companies about a potential acquisition, Wells Fargo thinks that a largely debt financed purchase of Salix could be 8% accretive for Allergan in 2015-2016, reaching 12% accretion in 2018.
07:07 EDTAGNSome Valeant shareholders express uncertainty over Allergan deal, Reuters says
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07:04 EDTAGNSalix buyout price could be near $192 per share, says William Blair
William Blair believes a combined Allergan (AGN) and Salix (SLXP) would be very attractive. The firm estimates a potential takeover price for Salix towards the high end of its $176-$192 per share range. Salix rose 16% yesterday to $160.80 after Wall Street Journal reported that Allergan approached the company and at least one other about a takeover.
August 19, 2014
17:14 EDTAGNOn The Fly: Closing Wrap
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16:52 EDTAGNAllergan all-cash deal would reduce hostile bid chances, says BMO Capital
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14:40 EDTAGNSterne Agee says Allergan could pay up to $190 for Salix and still be accretive
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13:13 EDTAGNAllergan approached Salix, one other about takeover, WSJ reports
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13:06 EDTAGNSalix jumps 6% to $147.85 after WSJ report of Allergan approach
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13:05 EDTAGNAllergan approached Salix about takeover, WSJ reports
07:50 EDTRHIRobert Half and Kforce weakness a buying opportunity, says Macquarie
Macquarie recommends using recent weakness in Robert Half (RHI) and Kforce (KFRC) related to global macro uncertainty as a buying opportunity.
August 18, 2014
15:59 EDTAGNAllergan CFO change may suggest strategic deal near, says BMO Capital
BMO Capital believes former Allergan (AGN) CFO Jeff Edwards would not be leaving if a change of control of the company, such as a takeover by Valeant (VRX), were in the future. Rather, BMO thinks Edwards' decision to leave could be a sign that a strategic transaction marking a new chapter in Allergan's growth may be nearing. The firm thinks Allergan is in capable hands with new CFO Jim Hindman and it keeps an Outperform rating on the stock with a $230 price target.
11:57 EDTAGNAllergan CFO departure largely unexpected, says Wells Fargo
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09:02 EDTAGNAllergan names Jim Hindman as CFO, effective immediately
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07:57 EDTAGNCambridge Healthtech Institute to hold a summit
6th Annual Bioprocessing Summit to be held in Boston on August 18-22.
August 15, 2014
17:03 EDTAGNValeant extends offer to acquire Allergan
Valeant Pharmaceuticals (VRX) announced that it has extended the expiration of its exchange offer to acquire all of the outstanding shares of Allergan (AGN) to December 31. The exchange offer was previously scheduled to expire August 15. All other terms and conditions of the exchange offer remain unchanged.
14:14 EDTAGNValeant being probed by IRS after Biovail deal, FT says
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09:45 EDTAGNEvent-driven funds, Pershing own over 20% of Allergan, CNBC reports
Event-driven hedge funds and Pershing Square owned over 20% of Allergan as of June 30, CNBC's David Faber reports. Valeant (VRX) and Pershing are seen as getting the over 30% to call a special meeting, Faber adds.
08:16 EDTCTBCooper Tire, Chengshan Group enter CCT option agreement
Cooper Tire & Rubber Company announced it has entered into an option agreement with Chengshan Group Company Ltd. that affirms and provides additional details regarding the previously announced put and call process to resolve the future ownership of Cooper Chengshan, or CCT, as contemplated by the January 29 agreement among the two companies and the CCT labor union. In addition, the new option agreement extends the option commencement deadline, which is the deadline for the independent valuation firm to deliver its fair market valuation of CCT, to August 24. The process for determining the future ownership of CCT begins with an independent valuation of the fair market value of CCT. Once the valuation is delivered, Chengshan has the first option, within 45 days, to elect to purchase Cooper’s 65% interest, to sell its 35% interest to Cooper, or not to exercise either of these options. If Chengshan determines not to exercise either of the options, Cooper has the right to purchase Chengshan’s 35% interest. In the event that neither party elects to purchase the others’ interest, the joint venture continues as currently structured. Further, should Chengshan purchase Cooper’s stake in the joint venture, Cooper will continue to have offtake rights with CCT agreeing to produce Cooper-brand products, including Truck and Bus Radial tires, for a minimum of three years.
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