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Stock Market & Financial Investment News

News Breaks
May 30, 2014
16:34 EDTAGN, VRX, BLOX, LGF, NPSP, SHPG, RTRX, SPLKOn The Fly: Closing Wrap
The market began the session in quiet fashion and remained that way throughout the day. There was little for investors to get excited about, as the day’s economic data proved to be a mixed bag. The averages moved in a narrow range on very light volume while the news flow slowed to a trickle. With memorial Day kicking off the summer season and the week shortened by a day, investors appeared content to let the market drift in the last trading day of the week and the month, albeit near record levels. ECONOMIC EVENTS: In the U.S., personal income rose 0.3% in April, matching expectations, while consumer spending fell 0.1%, versus an expected increase of 0.2%. The Chicago ISM index rose 2.5 points to 65.5 in May, which was much better than expected. The final University of Michigan consumer confidence reading for May came in at 81.9, which was up just 0.1 from the prior reading and a hair below the expected 82.5 figure. COMPANY NEWS: Valeant Pharmaceuticals (VRX) raised its offer for Allergan (AGN) for the second time this week. Under the newly revised proposal, each Allergan share would be exchanged for $72.00 in cash and 0.83 shares of Valeant common stock, plus a Contingent Value Right for DARPin of up to $25.00 per share in value. This is up from the $58.30 in cash, plus shares and the CVR, that Valeant offered just two days ago. MAJOR MOVERS: Among the notable gainers was Retrophin (RTRX), which gained $1.74, or 13.51%, to $14.62 after announcing a license agreement with Mission Pharmacal for Thiola and revising its guidance. Also higher was NPS Pharmaceuticals (NPSP), which jumped $3.68, or 13.41%, to $31.13 after FT Alphaville, citing "usually well informed sources," said Shire (SHPG) has held internal discussions about a potential cash takeover offer for its smaller pharmaceutical industry peer. Among the noteworthy losers was Infoblox (BLOX), which plunged $7.56, or 36.84%, to $12.96 after the company's outlook for the new quarter missed expectations, its CEO Robert Thomas said he will step down and the shares were downgraded by at least six Street research firms. Other decliners following their earnings reports were data analysis software provider Splunk (SPLK), which fell $8.18, or 16.35%, to $41.86, and "Hunger Games" producer Lions Gate (LGF), which dropped $3.40, or 11.51%, to $26.13. INDEXES: The Dow was up 18.43, or 0.11%, to 16,717.17, the Nasdaq was down 5.33, or 0.13%, to 4,242.62, and the S&P 500 was up 3.54, or 0.18%, to 1,923.57.
News For AGN;VRX;BLOX;LGF;NPSP;SHPG;RTRX;SPLK From The Last 14 Days
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October 9, 2014
06:46 EDTAGNAllergan raises Q3 EPS to $1.76-$1.78 from $1.44-$1.47, consensus $1.48
Expects Q3 product net sales to increase in excess of 17% in dollars compared to product net sales from 3Q13.
05:22 EDTSHPGShire provides regulatory update on SHP 465
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October 8, 2014
16:10 EDTAGNAllergan initiated with a Buy at Deutsche Bank
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09:05 EDTLGFLionsgate partners with Doritos, Mazda and Whole Foods Market for new film
Lionsgate (LGF) announced that PepsiCo's (PEP) Doritos, Mazda and Whole Foods Market's (WFM) Whole Planet Foundation will partner with the studio for the film The Hunger Games: Mockingjay – Part 1 which opens in theaters worldwide on November 21.
08:42 EDTAGNSalix shares should be bought on weakness, says Sterne Agee
After Reuters yesterday afternoon reported that Actavis (ACT) plans to make a new merger approach to Allergan (AGN), Sterne Agee believes that Salix's standalone value is $162. The firm expects the shares to reach that level following approval of its Xifaxan IBS-D drug after the February 2015 PDUFA date.
07:19 EDTAGNCBI to hold a conference
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07:17 EDTSPLKSplunk price target raised to $64 from $55 at UBS
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06:23 EDTAGN, VRXActavis more inclined to pursue Allergan over Salix, says Citigroup
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October 7, 2014
18:29 EDTVRX, AGNOn The Fly: After Hours Movers
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18:05 EDTAGN, VRXValeant, Pershing Square plan to raise Allergan bid by $15 a share, WSJ says
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17:52 EDTAGN, VRXAllergan up 2.8% after Dow Jones says Valeant planning to boost bid for company
17:49 EDTAGN, VRXValeant up 3.9% after Dow Jones says planning to boost Allergan bid
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17:47 EDTAGN, VRXValeant, Pershing Square planning to boost Allergan bid by $15 a share, DJ says
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15:21 EDTVRX, AGNAllergan warms to sale as Actavis plans new approach, Reuters says
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15:01 EDTAGNAllergan up 1.5% following report on Actavis planned approach on merger
14:59 EDTAGNActavis plans new approach to Allergan, Reuters reports
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09:03 EDTLGFLionsgate expands distribution deal with Miramax
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08:08 EDTSPLKSplunk, AWS to integrate Hunk on Amazon Elastic MapReduce
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07:48 EDTAGNSalix reinstated with a Buy at Jefferies
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07:12 EDTAGN, VRXAllergan requests Ackman be hindered from voting at meeting, Bloomberg says
In an effort to avoid an unsolicited $54B acquisition offer from Valeant Pharmaceuticals (VRX), Allergan (AGN) filed a request in a California court for a judge to hinder Bill Ackman’s Pershing Square from voting its 10% stake at the December shareholder meeting, according to Bloomberg, citing the filing. A hearing regarding Allergan's request is set to occur on October 28. Reference Link
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