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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 dayís 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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July 17, 2014
07:00 EDTVRX, AGNPaulson says Allergan could be wroth $220 per share, WSJ reports
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July 16, 2014
17:46 EDTAGN, VRXAckman says he thinks Allergan-Valeant deal eventually gets done
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17:42 EDTVRX, AGNPershing Square's Ackman says Allergan's attack on Valeant unprecedented
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10:36 EDTAGN, VRXTreasury calls on Congress to halt inversion deals
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10:35 EDTSHPGOptions with decreasing implied volatility
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10:31 EDTAGNPershing Square Capital Management holds analyst/industry conference call
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09:17 EDTLGFLionsgate extends long-term agreement with Australia's Roadshow Films
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09:16 EDTAGN, VRXPershing Square sends letter to Allergan's board of directors
Pershing Square Capital Management announced it has sent a letter to Allergan's Board of Directors. Pershing Square last Friday filed definitive solicitation materials with the U.S. SEC to seek shareholder support for a special meeting of Allergan shareholders and is now actively soliciting shareholder support to call the meeting. At this special meeting, Allergan shareholders will be able to voice their opinions on a number of critical matters, including the proposed removal of six incumbent members of the Allergan board, the proposed appointment of an independent slate of directors and certain other proposed provisions to improve Allerganís corporate governance.
08:16 EDTVRX, AGNLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
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07:59 EDTSHPG, VRX, AGNTreasury Secretary urges Congress to take action on tax inversions
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05:53 EDTSHPGStocks with implied volatility below IV index mean; LO SHPG
Stocks with implied volatility below IV index mean; Lorillard (LO) 21, Shire (SHPG) 31 according to iVolatility.
05:47 EDTSHPGStocks with implied volatility movement; SHPG XLP
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July 15, 2014
11:13 EDTAGNPerrigo retreats after analyst sees limited potential buyers
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10:38 EDTLGFLionsgate rises after announcing collaboration with Alibaba
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10:37 EDTSHPGOptions with decreasing implied volatility
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09:21 EDTLGFOn The Fly: Pre-market Movers
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09:02 EDTLGFLionsgate deal with Alibaba positive for shares, says Piper Jaffray
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07:23 EDTSPLKFortune to hold a conference
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06:04 EDTSHPGStocks with implied volatility below IV index mean; BBBY SHPG
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05:28 EDTLGFLionsgate, Alibaba form strategic collaboration
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