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Stock Market & Financial Investment News

News Breaks
April 21, 2014
19:02 EDTNFLX, RMBS, AGN, VRXOn The Fly: After Hours Movers
NOTABLE: Allergan (AGN), up 20%, and Valeant Pharmaceuticals (VRX), up 9.1%, both advanced after The Wall Street Journal reported that activist investor Bill Ackman is teaming up with Valeant to make a bid for Allergan. Following the report, Ackman's Pershing Square filed a 13D with the SEC disclosing a 9.7% stake in Allergan and outlining an agreement with Valeant. The agreement, among other things, said that Valeant plans to make a bid for Allergan comprised of $15B of cash and a to-be-determined amount of Valeant stock. The filing also showed that Ackman began building a position in Allergan in late February, and at that time entered an agreement with Valeant forming a new, jointly-owned entity through which to acquire a position in Allergan. CNBC's David Faber reported that Valeant is expected to officially make a hostile bid for Allergan by tomorrow. UP AFTER EARNINGS: Netflix (NFLX) gained 6.3% after reporting profits that beat expectations on revenues that were in-line with expectations. The streaming internet video service also reported that U.S. subscribers grew by 2.25M in the first quarter, with its international subscriber base expanding by 1.75M for the period. DOWN AFTER EARNINGS: Rambus (RMBS) fell 7.5% after providing a second quarter revenue outlook that fell short of expectations, with the company adding that its revenue outlook, "includes expectations that the company will sign new customers for patent as well as solutions licensing." Rambus' first quarter results, however, came in better than expected, and the company also reaffirmed its fiscal 2014 revenue outlook.
News For AGN;VRX;NFLX;RMBS From The Last 14 Days
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July 18, 2014
05:57 EDTNFLXLevel 3 says Verizon 'deliberately' causing Netflix congestion
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July 17, 2014
16:45 EDTAGN, VRXPershing Square looks to obtain consents for special meeting
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10:20 EDTAGNPershing sees coming 13-Fs to show long-term Allergan holders have been selling
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09:31 EDTNFLXNetflix, Disney announce multi-year pay TV window agreement in Canada
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09:00 EDTAGNAckman says large takeover by Allergan could be 'enormously value destructive'
08:44 EDTAGNPershing says special meeting warranted given 'poor governance' at Allergan
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08:08 EDTVRXValeant receives FDA clearance for Victus Femtosecond Laser Platform
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07:31 EDTNFLXNetflix Q2 results likely to beat expectations, says MKM Partners
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07:20 EDTNFLXNetflix July weekly volatility elevated into Q2 and outlook
Netflix July weekly call option implied volatility is at 77, August is at 49, September is at 40; compared to its 26-week average of 44 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 21.
07:00 EDTVRX, AGNPaulson says Allergan could be wroth $220 per share, WSJ reports
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July 16, 2014
17:46 EDTVRX, AGNAckman says he thinks Allergan-Valeant deal eventually gets done
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17:42 EDTAGN, VRXPershing Square's Ackman says Allergan's attack on Valeant unprecedented
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15:17 EDTNFLXNetflix quietly ends Saturday DVD deliveries to lower costs, LAT says
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14:03 EDTNFLXNetflix submits FCC comments on proposed Net Neutrality rules
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10:36 EDTAGN, VRXTreasury calls on Congress to halt inversion deals
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10:31 EDTAGNPershing Square Capital Management holds analyst/industry conference call
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09:37 EDTNFLXActive equity options trading on open
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09:16 EDTVRX, AGNPershing 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 EDTAGN, VRXLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
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07:59 EDTAGN, VRXTreasury Secretary urges Congress to take action on tax inversions
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