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April 23, 2014
06:06 EDTAGN, MNKDStocks with implied volatility below IV index mean; AGN MNKD
Stocks with implied volatility below IV index mean; Allergan (AGN) 32, MannKind (MNKD) 73 according to iVolatility.
News For AGN;MNKD From The Last 14 Days
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October 24, 2014
11:18 EDTAGNEarnings Preview: Allergan price target raised by Citi ahaead of Q3 results
Allergan (AGN) is estimated to report third quarter earnings before the market open on Monday, October 27. Allergan operates as a multi-specialty healthcare company primarily in the United States, Europe, Latin America, and the Asia Pacific. The company discovers, develops, and commercializes pharmaceutical, biological, medical device, and over-the-counter products for the ophthalmic, neurological, medical aesthetics, medical dermatological, breast aesthetics, urological, and other specialty markets. EXPECTATIONS: Analysts are looking for earnings per share of $1.68 on revenue of $1.78B, according to First Call. The consensus range for EPS is $1.45-$1.78 on revenue of $1.69B-$1.85B. LAST QUARTER: Allergan reported second quarter EPS of $1.51 against estimates of $1.44 on revenue of $1.86B against estimates of $1.77B. GUIDANCE: Allergan raised its Q3 EPS view on October 9. The company said it sees a Q3 EPS range of $1.76-$1.78, up from its prior view of $1.44-$1.47. The company also gave full year 2014 EPS guidance of $6.20-$6.25, saying it expected FY14 product net sales to increase 14%-15% compared to product net sales in FY13. Allergan said momentum derived from many sources, including robust growth of worldwide markets in which the company operates, increases in market share in most categories, many regulatory approvals for new products in the U.S. and internationally, and targeted investments to create and grow new products and new categories. The company added that exceptional growth in EPS stems from the acceleration in sales, but also in leveraging of sales and marketing expenditures. The benefits from Allerganís previously announced restructuring program will be reflected in the companyís actual results beginning in Q4 and continuing through 2015. With the release of the guidance, Allergan CEO David Pyott said, "Todayís announced expectations for the third quarter and updated future outlook further demonstrate that there is a vast value gap between Valeantís offer and the intrinsic value of Allergan." HOSTILE TAKEOVER: Allergan is in the midst of a hostile takeover attempt at the hands of Valeant (VRX) and Bill Ackman's Pershing Square. On October 20, Valeant said it may raise its bid for Allergan, and will not abandon its pursuit before Allergan's special meeting of shareholders on December 18. At the special meeting, Ackman is looking to replace members of Allergan's board with his own nominees that would be ready to discuss a takeover. STREET RESEARCH: On October 20, Citigroup raised its price target for Allergan (AGN) shares to $210 citing the company's recently increased guidance. Citi believes the three guidance increases this year underscores Allergan's attractiveness as a takeover target. The firm maintained a Buy rating on Allergan shares. PRICE ACTION: Shares of Allergan are up almost 9% since its last earnings report and are higher by 1.6% in Friday's trading ahead of the expected earnings report.
October 23, 2014
18:18 EDTAGNGlenview Capital acquires stake in Actavis, Bloomberg reports
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October 22, 2014
05:58 EDTMNKDStocks with implied volatility movement; MNKD SHPG
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October 21, 2014
12:44 EDTAGNMeister says Valeant likely to ultimately raise Allergan bid
Keith Meister of Corvex Management is speaking on CNBC.
12:43 EDTAGNMeister says passive holder of Allergan, aligned with Pershing Square
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07:42 EDTAGNValeant Q3 results makes strong case for Allergan purchase, says Susquehanna
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06:33 EDTAGNValeant price target raised to $182 from $167 at Cantor
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October 20, 2014
12:23 EDTAGNAllergan holder Paulson encourages deal with Shire, Reuters says
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09:25 EDTAGNValeant says talks to Ackman 'frequently'
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09:08 EDTAGNValeant says not planning to walk away from Allergan deal before Dec. 18
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08:58 EDTAGNValeant says still willing to improve bid for Allergan
Valeant (VRX) said would raise Allergan (AGN) bid "when time is right." Says hopes Allergan shareholders see that Valeant's operating model does work and will continue to work. Says Valeant (VRX), Allergan have "unique" business overlap. Says company "should" own Allergan. Says interests with Pershing, Ackman "aligned" on Allergan.
08:37 EDTAGNValeant says 'completely focused' on Allergan acquisition
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07:34 EDTAGNValeant says remains focused on completing Allergan transaction
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07:30 EDTAGNValeant CEO says 'can bid more than anyone' in financially sound Allergan deal
Pearson says "we cannot stop" another company from making a bid that does not make economic sense, but he believes Valeant (VRX) can "bid more than anyone" for Allergan (AGN) in a deal that makes financial sense. Pearson says he has met with doctor groups and that 95% of those he's spoken with support Valeant's bid for Allergan. Valeant CEO J. Michael Pearson spoke on CNBC.
07:16 EDTAGNAmerican Academy of Ophthalmology to hold annual meeting
AAO Annual Meeting 2014 is being held in Chicago on October 18-21.
06:52 EDTMNKDMannKind initiated with a Neutral at Goldman
Target $6.
06:28 EDTAGNAllergan price target raised to $210 from $190 at Citigroup
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October 17, 2014
09:47 EDTAGNValeant will not raise Allergan bid ahead of record date, CNBC reports
Valeant (VRX) will not raise its hostile takeover bid for Allergan (AGN) ahead of the record date for the vote, CNBC's David Faber reports. Allergan (AGN) is not currently in takeover talks with Actavis (ACT), Faber added.
09:45 EDTAGNAllergan not in deal talks with Actavis, CNBC reports
09:43 EDTAGNValeant not going to raise Allergan bid ahead of meeting, CNBC reports
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