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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
Check below for free stories on AGN;VRX;BLOX;LGF;NPSP;SHPG;RTRX;SPLK the last two weeks.
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August 15, 2014
08:12 EDTNPSPNPS Pharmaceuticals initiated with an Outperform at FBR Capital
Target $34.
August 14, 2014
17:41 EDTVRXPoint72 Asset Management gives quarterly update on stakes
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17:16 EDTAGN, SHPGPaulson & Co gives quarterly update on stakes
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17:02 EDTAGNPershing Square gives quarterly update on stakes
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14:28 EDTAGN, VRXAckman says Pershing, Valeant took no tender steps before buying Allergan shares
Bill Ackman made the statement to CNBC's Scott Wapner regarding his fund and Valeant's (VRX) pursuit of Allergan (AGN). Note that the Wall Street Journal reported earlier that the SEC is investigating Valeant and Pershing's pursuit of Allergan.
13:48 EDTVRX, AGNValeant, Pershing joint bid for Allergan being probed by SEC, WSJ says
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13:22 EDTVRX, AGNValeant, Pershing joint bid for Allergan being probed by SEC, DJ says
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August 13, 2014
16:32 EDTAGNAllergan acquires LiRIS program from TARIS Biomedical
Allergan and TARIS Holdings announced that Allergan has closed a transaction to acquire worldwide rights to TARIS Biomedicalís lead program, LiRIS, which is currently in Phase 2 trials for the treatment of interstitial cystitis / bladder pain syndrome. Allergan paid $67.5M in cash upfront, subject to certain adjustments and holdbacks. Allergan has also agreed to pay up to an aggregate of $295M in development milestone payments and up to an aggregate of $225M in commercial milestone payments. Prior to the closing of this transaction, TARIS spun out certain assets, including pipeline programs and intellectual property related to TARISí platform technology, to a new company funded by TARIS shareholders.
August 12, 2014
11:24 EDTSHPGOptions with increasing implied volatility
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07:03 EDTRTRXRetrophin sees FY15 EPS 75c-$1.25
Sees FY15 revenue $60M-$70M, one estimate $63M.
07:02 EDTRTRXRetrophin sees FY14 revenue $30M-$35M, one estimate $31M
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07:02 EDTRTRXRetrophin reports Q2 EPS 52c vs. 21clast year
Reports Q2 revenue $5.74M, may not compare to one estimate $3.10M.
August 11, 2014
17:36 EDTVRX, AGNValeant receives FTC second request under Hart-Scott-Rodino
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15:39 EDTRTRXRetrophin CEO says 'stay tuned' for financial results in morning
Martin Shkreli, the CEO of Retrophin, stated on Twitter: "we report financial results tomorrow morning. stay tuned!" Reference Link
12:52 EDTAGN, VRXAllergan receives second request from FTC regarding Valeant's proposal
Allergan (AGN) announced that it received a request for additional information under the Hart-Scott-Rodino Act from the U.S. Federal Trade Commission in connection with Valeant Pharmaceuticals International's (VRX) unsolicited acquisition proposal of Allergan. Allergan intends to respond fully in connection with the ongoing investigation. The Company noted that Second Request investigations typically take some time to conclude, and Allergan cannot predict how long this investigation will take or how it might otherwise develop. The company previously announced that Allerganís Board of Directors unanimously determined that Valeantís unsolicited exchange offer is grossly inadequate, substantially undervalues the company, creates significant risks and uncertainties for Allergan stockholders, and is not in the best interests of the company and its stockholders. Goldman, Sachs & Co. and BofA Merrill Lynch are serving as financial advisors to the company and Latham & Watkins, Richards, Layton & Finger, P.A. and Wachtell, Lipton, Rosen & Katz are serving as legal counsel to the company.
12:42 EDTAGN, VRXValeant shareholder ValueAct sees no need to buy Allergan, Reuters says
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12:27 EDTAGN, VRXValueAct says Valeant does not need to buy Allergan, Reuters says
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08:22 EDTRTRXRetrophin CEO in scandal over Twitter use, TheStreet reports
Retrophin has placed the company's social media activity on "lockdown" following questionable tweets from CEO Martin Shkreli, including one that seemed to hint at a Retrophin acquisition of an approved drug from a private company, reported TheStreet's Adam Feuerstein. The social media blackout also follows the discovery that employees were using Twitter aliases to promote Retrophin and pitch short-sale recommendations of other stocks, including a tweet that singled out TherapeuticsMD (TXMD), the report added. Reference Link
07:22 EDTAGN, VRXJudge sets hearing date for Allergan suit vs. Valeant, Reuters reports
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06:26 EDTLGFLionsgate sues as 'Expendables 3' leaks, WSJ reports
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