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Stock Market & Financial Investment News

News Breaks
May 30, 2014
16:34 EDTSPLK, NPSP, VRX, RTRX, LGF, AGN, SHPG, BLOXOn 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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August 21, 2015
09:38 EDTSHPGUBS global healthcare analysts hold an analyst/industry conference call
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August 20, 2015
18:09 EDTVRXValeant a bargain, poised for growth, Barron's says
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16:48 EDTVRXOn The Fly: Top stock stories for Thursday
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13:26 EDTVRXOn The Fly: Top stock stories at midday
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09:20 EDTVRXOn The Fly: Pre-market Movers
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09:13 EDTVRXPalatin up 15.18% after Valeant announces plans to buy Sprout for $1B
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08:16 EDTAGNAllergan's Botox resubmission for lower limb spasticiy accepted by FDA
Allergan 's resubmission of its Supplemental Biologics License Application for Botox for the treatment of adults with lower limb spasticity in adults has been accepted by the FDA. A six-month review period has been assigned for the sBLA. The Prescription Drug User Fee Act date is expected to be in 1Q16. The resubmission provides additional data from a double-blind, placebo controlled study involving 468 patients with lower limb spasticity. The FDA also approved an increase to the maximum Botox cumulative dose within three months from 360 to 400 units in adults treated for one or more indications.
07:31 EDTVRXValeant to acquire Sprout Pharma for $1B, plus a share of future profits
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05:50 EDTVRXValeant nears deal to buy Sprout Pharma for $1B, WSJ reports
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August 17, 2015
06:55 EDTSHPGBaxalta initiated with an Outperform at William Blair
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06:48 EDTSHPGShire to raise Baxalta offer if given access to company's books, Telegraph says
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August 16, 2015
18:01 EDTVRXSenators question Valeant, Hospira on 'artifically inflated' drug prices
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15:03 EDTSHPGShire must raise bid to $35B to interest Baxalta, Sunday Times says
Shire (SHPG) will have to increase its bid for Baxalta (BXLT) by about $5B to $35B in order to entice the company's board, reports the Sunday Times, citing people working on the deal. Even a $35B deal would only be a starting point, cautioned the sources. Reference Link
August 14, 2015
17:32 EDTAGNPershing Square gives quarterly update on stakes, liquidates Allergan position
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17:08 EDTVRX, AGN, SHPGPaulson & Co gives quarterly update on stakes
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15:33 EDTAGNEndo confirms court ruling upholding OPANA ER intellectual property
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14:15 EDTAGNEndo successful in blocking Opana generic until 2023, Bloomberg reports
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08:35 EDTVRXHayman takes Mylan, Perrigo stakes, boasts exposure to energy
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07:37 EDTAGN, LGFJANA reports new stakes in Allergan, TWC, sells Applied Materials
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07:15 EDTSHPGShire eyes more details of Baxalta sales outlook, Bloomberg reports
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