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Stock Market & Financial Investment News

News Breaks
April 28, 2014
06:31 EDTAGN, VRX, NSRGY, JNJValeant prepared to make higher offer for Allergan, says Wells Fargo
Wells Fargo said it left Valeant (VRX) and Pershing Square's sell-side meeting Friday with the impression that Valeant is prepared to go higher than the current offer for Allergan (AGN), which it notes is about $159 per share at closing prices on April 25. Wells pointed out that Valeant and Pershing indicated that Nestle (NSRGY) was the most likely potential additional bidder for Allergan followed by Johnson & Johnson (JNJ). Wells has an Outperform rating on Allergan.
News For AGN;VRX;NSRGY;JNJ From The Last 14 Days
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September 23, 2014
09:13 EDTAGNOn The Fly: Pre-market Movers
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08:53 EDTVRX, AGNInversion regulations look more onerous than expected, says FBR Capital
FBR Capital says the new regulations announced last night by the Treasury and IRS contain appear more onerous than expected. FBR points out the proposed changes remove the ability of inverting companies to make "hopscotch loans" between the foreign and domestic subsidiaries. The firm believes the regulations will not end the practice of inversions, and it still expects completion of already announced deals.
08:38 EDTAGN, VRXPershing threatens suit against Allergan if no vote held on Salix deal, WSJ says
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08:31 EDTAGNSalix takeout price could be $200 per share, says Leerink
Leerink estimates a takeout valuation for Salix (SLXP) of $200 per share, but says it would start recommending investors take profits above $185. The firm believes a potential deal with Allergan (AGN) would likely include an above-average break-up fee. Leerink thinks a competitive bid could surface, and points out Actavis (ACT) has more overlapping cost structure with Salix than Allergan. Shares of Salix are up 9% to $173.48 in pre-market trading after Wall Street Journal reported the company is in merger talks with Allergan.
08:07 EDTJNJFDA Pediatric Advisory Committee to hold a meeting
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06:28 EDTAGNTreasury rules may put Mylan deal at risk, says BMO Capital
BMO Capital believes Treasury's new inversion rules may put the tax benefits of Mylan's (MYL) planned acquisition of Abbott's (ABT) established products business at risk. BMO also thinks the rules impact Salix's (SLXP) pending deal for Cosmo Pharmaceuticals, which it feels may help make a deal with Allergan (AGN) more likely.
05:56 EDTAGN, VRXTreasury, IRS announce plans to reduce inversion tax benefits
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September 22, 2014
19:03 EDTVRX, AGNAllergan rejected buyout bid from Actavis, in advanced talks for Salix, WSJ says
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07:50 EDTJNJDoctors continue to use morcellators despite FDA warning, J&J halt, WSJ says
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07:07 EDTJNJSynageva appoints Robert Bazemore as COO
Synageva announced the appointment of Robert Bazemore as Chief Operating Officer. Bazemore will oversee the planned global commercial launch of the company's lead program, sebelipase alfa for LAL Deficiency, and will have responsibility for the company's global commercial, market access and medical affairs operations. Bazemore last served at Johnson & Johnson (JNJ) in varoius roles including Vice President, Ethicon New Growth Platforms and President of Janssen Biotech, a part of the Janssen Pharmaceutical Companies of Johnson & Johnson.
September 19, 2014
11:25 EDTAGN, VRXSenators bring bill requiring companies to settle before inverting
U.S. Senators Sherrod Brown and Dick Durbin announced new legislation requiring corporations to "Pay What You Owe Before You Go" – settling their U.S. tax bill before relocating to a foreign country. "Everyone knows that before you leave a restaurant you have to settle your tab," Brown said. "Corporations shouldn’t get to play by different rules. While it is critical that we reach a long-term solution that reforms our international corporate tax code by implementing a global minimum tax and reducing the statutory tax rate, this bill is an immediate, commonsense measure to ensure businesses settle up before leaving the U.S." Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Allergan (AGN).
September 17, 2014
10:00 EDTNSRGYOn The Fly: Analyst Downgrade Summary
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08:36 EDTJNJJanssen-Cilag announces results from post-hoc canagliflozin analysis
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08:12 EDTJNJJanssen-Cilag announces results from Phase 3 Invokana trial
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07:54 EDTNSRGYNestle downgraded to Hold from Buy at Societe Generale
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07:00 EDTNSRGYMondelez exec aiming for more beverage offerings, Reuters says
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05:25 EDTNSRGYNestle downgraded to Hold from Buy at Societe Generale
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September 16, 2014
11:51 EDTVRX, AGNOECD looks to close tax loopholes with new proposals
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07:31 EDTJNJEuropean Association for Study of Diabetes to hold annual meeting
50th Annual Meeting of EASD to be held in Vienna, Austria on September 15-19.
05:37 EDTAGN, VRXValeant, Pershing Square, Allergan settle pending litigation before DE Court
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