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Stock Market & Financial Investment News

News Breaks
July 9, 2014
18:21 EDTAGN, VRX, SHPGAllergan CEO seeks sizeable acquisitions, WSJ reports
Allergan (AGN) CEO David Pyott says he is looking at potential sizable acquisitions, at the behest of his shareholders, as he tries to fight off a $53B hostile bid from Valeant Pharmaceuticals (VRX), and Pershing Square's Bill Ackman, The Wall Street Journal reports. Shire (SHPG) has been an often-rumored potential target of Allergan. Reference Link
News For AGN;VRX;SHPG From The Last 14 Days
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October 15, 2014
15:00 EDTSHPG, AGNShire-Allergan, AbbVie-Pfizer deals possible if merger scrapped, Bloomberg says
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13:45 EDTSHPGShire waives notice requirement for AbbVie board meeting
Shire (SHPG) announces that, in order to "allow the period of uncertainty for its shareholders, employees and other stakeholders to be reduced," it has agreed to waive the requirement for three business days' notice for AbbVie's (ABBV) board to meet to consider its recommendation of the offer for Shire.
13:19 EDTSHPGAbbVie close to dropping takeover bid for Shire, Bloomberg reports
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13:07 EDTAGN, VRXAllergan seeing arb-related selling pressure, says BMO Capital
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12:59 EDTSHPGShire at lows down 33% after Bloomberg says AbbVie close to dropping bid
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12:58 EDTSHPGAbbVie close to dropping takeover bid for Shire, Bloomberg reports
12:36 EDTSHPGOn The Fly: Midday Wrap
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10:48 EDTSHPGShire tanks with AbbVie calling board meeting over merger
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10:02 EDTSHPGOn The Fly: Analyst Upgrade Summary
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09:20 EDTSHPGOn The Fly: Pre-market Movers
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09:11 EDTSHPGShire upgraded to Buy from Fair Value at CRT Capital
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07:30 EDTSHPGAbbVie review of Shire deal an 'unwelcome surprise,' says Jefferies
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06:58 EDTSHPGAbbVie volatility elevated into reconsidering Shire merger
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06:55 EDTSHPGShire volatility elevated into AbbVie reconsidering merger recommendation
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05:34 EDTSHPGShire says AbbVie should proceed with recommended offer
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October 14, 2014
19:50 EDTSHPGShire down nearly 6% following AbbVie reconsidering merger recommendation
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19:48 EDTSHPGAbbVie board reconsidering recommendation to holders to accept Shire merger
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19:46 EDTSHPGAbbVie board reconsidering recommendation to holders to accept Shire merger
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06:03 EDTAGNMarket overreacted to new Irish tax rules, says BMO Capital
BMO Capital believes the market may have overreacted yesterday to the report that Ireland is eliminating the "Double Irish" tax loophole. The firm says Allergan (AGN) confirmed that it incorporated potential changes to Irish tax law in its recently raised earnings guidance while Mallinckrodt (MNK) said it does expect the new tax structure to have an immediate impact. BMO views yesterday's pullback in shares of Allergan, Mallinckrodt and Actavis (ACT) as an overreaction.
October 13, 2014
06:39 EDTAGNAllergan takeout value at or above $210 per share, says Leerink
Leerink believes Allergan's takeover value is now at or above $210 per share given the company's recent execution. After speaking with management, the firm says Allergan's upside in Q3 was driving by fundamentals, not cost cuts. It continues to view the "most likely and straightforward outcome" for Allergan as being an outright sale of the company. Leerink raised its price target for shares to $215 from $184 and keeps an Outperform rating on Allergan.
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