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Stock Market & Financial Investment News

News Breaks
December 24, 2013
09:58 EDTENB, EROC, EGL, AGNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Allergan (AGN) upgraded to Outperform from Market Perform at Wells Fargo... Eagle Rock Energy (EROC) upgraded to Outperform from Market Perform at Wells Fargo... Enbridge (ENB) upgraded to Conviction Buy from Buy at Goldman... Engility Holdings (EGL) upgraded to Buy from Fair Value at CRT Capital.
News For AGN;EROC;ENB;EGL From The Last 14 Days
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April 21, 2014
17:10 EDTAGNValeant says Ackman can terminate agreement if no Allergan offer by May 2
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17:09 EDTAGNValeant says intends to propose merger with Allergan
Company said in regulatory filing it expects offer to be comprised of $15B of cash with a stock component to be determined.
17:07 EDTAGNValeant, Allergan deal to have $25-$30 per share of synergies, Faber says
CNBC's David Faber is reporting that Valeant's board is meeting tonight regarding a potential bid for Allergan, which it will make in combination with Bill Ackman's Pershing Square. Faber reports that the proposed combination would have about $25-$30 per share in synergies and the offer will 1/3 cash and 2/3 stock.
17:05 EDTAGNAckman reports 9.7% stake in Allergan, to consult with Valeant stake
Bill Ackman's Pershing Square disclosed in a regulatory filing that it holds a 9.7% stake in Allergan (AGN) and that it intends to consult with Valeant (VRX) on its investment. In its filing, Pershing Square said, "Valeant currently intends to propose a merger in which Allergan's shareholders will receive a combination of cash and Valeant common shares. Valeant has not yet determined the amount of cash and number of Valeant common shares it will offer, but it currently expects the cash component will total around $15B. Barclays and Royal Bank of Canada have indicated that they are prepared to deliver financing commitments covering the cash portion of the transaction at the time Valeant makes an offer." Pershing disclosed that on February 25, it entered an agreement with Valeant. As part of the deal, Pershing and Valeant agreed to for a new, jointly owned entity through which they would acquire equity in Allergan. Also, as part of that deal, Pershing Square will acquire $400M of Valeant stock at a 15% discount to current market prices immediately prior to consummation of an offer by Valeant to acquire Allergan. Shares of Allergan remain higher by more than 18% in after hours trade, while Valeant shares are up about 10%.
16:59 EDTAGNPershing Square says intends to consult with Valeant on Allergan investment
16:58 EDTAGNPershing Square says Valeant intends to propose merger with Allergan
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16:57 EDTAGNPershing Square reports 9.7% stake in Allergan
16:40 EDTAGNValeant expected to make hostile bid for Allergan tomorrow, Faber says
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16:38 EDTAGNAckman, Valeant team up on Allergan bid, WSJ says
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16:26 EDTAGNValeant, Bill Ackman team up on Allergan takeover, DJ says
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11:08 EDTAGNAllergan recent rally due to several factors, says BMO Capital
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April 17, 2014
12:03 EDTENBEnbridge downgraded to Hold from Buy at Canaccord
April 16, 2014
16:09 EDTEGLEngility Holdings wins $40M weapons system contract
Engility Holdings has won a $40M single award indefinite-delivery/indefinite-quantity contract to support modifications of electronic warfare weapons systems for several of U.S. Navy and Australian aircraft.
10:00 EDTAGNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: A10 Networks (ATEN) initiated with a Buy at BofA/Merrill... Actavis (ACT) initiated with a Buy at Sterne Agee... Allergan (AGN) initiated with a Buy at Sterne Agee... Autohome (ATHM) initiated with a Neutral at Credit Suisse... BitAuto (BITA) initiated with an Outperform at Credit Suisse... Centene (CNC) initiated with a Neutral at UBS... Endo International (ENDP) initiated with a Buy at Sterne Agee... FS Investment (FSIC) initiated with an Overweight at Evercore... Hertz (HTZ) initiated with a Buy at Gabelli... Hilton (HLT) initiated with a Hold at Jefferies... Hospira (HSP) initiated with a Neutral at Sterne Agee... ImmunoGen (IMGN) initiated with a Buy at Canaccord... Impax (IPXL) initiated with a Neutral at Sterne Agee... Imperva (IMPV) assumed with a Neutral at Wedbush... Ingredion (INGR) initiated with an Outperform at Credit Suisse... Laredo Petroleum (LPI) initiated with an Outperform at RW Baird... Lpath (LPTN) initiated with a Buy at Canaccord... MediWound (MDWD) initiated with an Outperform at Oppenheimer... Medivation (MDVN) initiated with a Hold at Canaccord... NPS Pharmaceuticals (NPSP) assumed with a Buy at Canaccord... Nimble Storage (NMBL) initiated with a Market Perform at Raymond James... Regeneron (REGN) initiated with a Buy at Canaccord... Salix (SLXP) initiated with a Buy at Sterne Agee... Sibanye Gold (SBGL) initiated with an Outperform at Imperial Capital... Teva (TEVA) initiated with a Neutral at Sterne Agee... Wipro (WIT) assumed with a Hold at Jefferies.
07:04 EDTAGNAllergan initiated with a Buy at Sterne Agee
Target $142.
April 14, 2014
10:02 EDTENBOn The Fly: Analyst Downgrade Summary
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06:00 EDTENBEnbridge downgraded to Neutral from Outperform at Credit Suisse
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April 11, 2014
18:44 EDTAGNJ&J halting development of Botox competitor, WSJ says
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09:00 EDTEGLEngility Holdings rises 3.7%
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April 10, 2014
10:12 EDTEGLEngility Holdings management to meet with CRT Capital
Meeting to be held in Boston on April 17 hosted by CRT Capital.
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