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Stock Market & Financial Investment News

News Breaks
May 28, 2014
16:24 EDTDSW, TWTR, SNN, VRX, DDD, SYK, AGNOn The Fly: Closing Wrap
Stocks on Wall Street finished lower following a session that began in quiet fashion and remained that way throughout the day. The volume was light, the trading range was tight, and the news flow failed to produce a catalyst that brought buyers into the fray. The S&P 500 touched an all-time high during the session, but was unable to hold onto its narrow gains into the close. Investors will have a busier economic calendar to look forward to tomorrow, which will include the first quarter annualized GDP numbers, weekly jobless claims data, a personal consumption reading, and energy inventory reports. ECONOMIC EVENTS: In the U.S., no major economic data was released. In Europe, a measure of business confidence In the euro area increased to 0.37 in May from 0.28 in April. COMPANY NEWS: Shares of Allergan (AGN) fell $8.90, or 5.39%, to $156.12 after Valeant Pharmaceuticals (VRX) raised the cash portion of its takeover bid by $10 to $58.30, along with 0.83 of a Valeant share and a new contingent value right, or CVR, related to DARPin sales which would provide up to approximately $25.00 per share of additional value. Wells Fargo calculated that, based on Valeant's closing price yesterday, the total new offer for Allergan is around $166 per share, which the firm believes may still be insufficient for Allergan. Following the new bid, which Allergan said it will "carefully review and consider," Valeant shares slid $3.00, or 2.31%, to $126.95. MAJOR MOVERS: Among the notable gainers was Twitter (TWTR), which climbed $3.26, or 10.69%, to $33.77 after Japanese bank Nomura upgraded the stock to Buy from Neutral in a note to investors. Also higher was Stryker (SYK), which rose $2.28, or 2.84%, to $82.64 after Financial Times reported this morning that the company was preparing a takeover bid for its U.K-based rival Smith & Nephew (SNN) and Stryker's CEO reportedly confirmed in an interview that the company was in the early stages of evaluating a potential acquisition of its peer. However, Stryker, at the urging of a British regulator, said it does not intend to make an offer for Smith & Nephew at this time, but reserved the right to make a future bid. Smith & Nephew shares trading in New York advanced $2.71, or 3.37% to $83.05. Among the noteworthy losers was shoe retailer DSW (DSW), which fell $8.90, or 27.37%, to $23.62 and was downgraded at Sterne Agee and Citigroup after its quarter report and yearly profit outlook disappointed. Also lower was 3D Systems (DDD), which slipped $6.20, or 10.95%, to $50.44 after announcing a secondary offering of about 6 million shares. INDEXES: The Dow fell 42.32, or 0.25%, to 16,633.18, the Nasdaq dropped 11.99, or 0.28%, to 4,225.08, and the S&P 500 declined 2.13, or 0.11%, to 1,909.78.
News For AGN;VRX;TWTR;SYK;SNN;DSW;DDD From The Last 14 Days
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July 23, 2015
10:24 EDTDDDZVerse announces strategic partnership and commercial agreement with 3D Systems
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07:50 EDTTWTRBrean Capital cuts Twitter target to $47 on near-term risks
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06:29 EDTVRXValeant raises FY15 cash EPS view to $11.5-$11.80 from $10.90-$11.20
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06:26 EDTVRXValeant sees Q4 cash EPS $3.98-$4.18, consensus $3.49
Sees Q4 revenue $3.2B-$3.4B, consensus $3.03B.
06:25 EDTVRXValeant sees Q3 cash EPS $2.60-$2.70, consensus $2.86
Sees Q3 revenue $2.6B-$2.8B, consensus $2.74B.
06:24 EDTVRXValeant reports Q2 cash EPS $2.56, consensus $2.46
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06:06 EDTVRXValeant raises FY15 cash EPS to $11.50-$11.80 from $10.90-$11.20
The increased EPS guidance reflects continued business outperformance and approval of IBS-D indication for Xifaxan. Raises FY15 total revenue to $10.7B-$10.4B from $10.4B-$10.6B. Sees FY15 Salix revenue $1.2B. Raises FY15 adjusted cash flow from operations to be greater than $3.2B from greater than $3.1B. Sees FY15 SSS organic growth of greater than 10% for 2H15.
06:05 EDTVRXValeant sees Q4 cash EPS $3.98-$4.18, revenue $3.2B-$3.4B
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06:05 EDTVRXValeant sees Q3 cash EPS $2.60-$2.70, revenue $2.6B-$2.8B
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06:04 EDTVRXValeant reports Q2 GAAP EPS (15c), Q2 cash EPS $2.56
Excluding negative impact of ForEx and Salix, cash EPS would have been $2.73. Reports Q2 total revenue $2.73B vs. $2.04B last year. Reports Q2 Product sales $2.70B vs. $1.99B last year. Reports Q2 SSS organic growth up 19%. Reports Q2 Salix revenue $313M.
July 22, 2015
16:22 EDTSYKSynergetics completes early renewal of Stryker supply agreement
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07:41 EDTTWTRTwitter blocked by Turkey following recent terror attack, AP reports
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06:12 EDTTWTRHerbalife requests user information from Twitter, Reuters reports
Herbalife (HLF) has filed a petition seeking information from Twitter (TWTR) to find an anonymous user who posted defamatory tweets against Herbalife, Reuters reports. Herbalife wants Twitter to provide IP addresses as well as account details of the user so that the company can pursue legal action, the report says. Reference Link
July 21, 2015
10:01 EDTVRXOn The Fly: Analyst Initiation Summary
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July 20, 2015
16:15 EDTVRXValeant initiated with a Buy at BTIG
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08:38 EDTVRXAnalyst predicts Zoetis merges with Bayer unit, not Valeant
Zoetis (ZTS) in recent months has been the subject of takeover speculation, possibly for Valeant (VRX), but a Jefferies analyst told investors today in a research note that he views a deal with a unit of healthcare giant Bayer (BAYRY) as "highly likely" for the animal medicine company. BACKGROUND: Bill Ackman of Pershing Square, who owns stakes in both Zoetis and Valeant, said in early May while speaking on CNBC that Zoetis is a "great” business on a standalone basis, but he also spoke of the company's strategic value. Ackman added, however, that he was "not sure" that Valeant was the best acquirer of Zoetis. Subsequently, in late June, The Wall Street Journal reported that Valeant made a preliminary approach regarding a potential deal to buy Zoetis. CNBC's David Faber said the next day, citing his own sources, that Valeant reached out to Zoetis as a courtesy to common shareholder Ackman and was unlikely to pursue an acquisition of the company, though he cautioned then Valeant could change its approach and pursue a deal. BAYER: Jefferies analyst Jeffrey Holford said in a note today that he views a tie-up between Zoetis and Bayer's Animal Health business in 2016 as "highly likely." He sees Mylan's (MYL) acquisition of Abbott's (ABT) non‑U.S. developed markets specialty and branded generics business as a potential proxy for how a transaction could be structured, adding that such a "spinversion" could achieve up to 36% long-term earnings accretion for Zoetis. Holford reiterated a Buy rating on Zoetis with a $60 price target, while downgrading Bayer to Hold, citing valuation following the recent outperformance of its shares. IDEXX: While being discussed as a target, some analysts have also opined on companies that Zoetis could pursue as a buyer. On June 29, Canaccord said that in investor meetings with IDEXX (IDXX) executives declined to comment on Zoetis' potential interest in scaling up its animal health diagnostics business. Canaccord added that it thought Zoetis could make a bid for IDEXX. The firm reiterated its Buy rating and $80 price target on IDEXX shares at that time. PRICE ACTION: Since June 25, the day the Journal first reported on Valeant's preliminary takeover approach to Zoetis, the animal health company's shares have dropped nearly 4%. Zoetis closed down 20c to $47.80 on Friday.
08:04 EDTSYKStryker announces definitive agreement tyo acquire Muka Metal
Stryker announced a definitive agreement to acquire Muka Metal, A.S. in an all cash transaction. Muka, headquartered in Kayseri, Turkey, sells hospital beds, stretchers and related patient room furniture and accessories that serve markets across Turkey and other regions globally. Upon closing, the transaction is expected to be neutral to Stryker's FY15 EPS excluding acquisition, integration-related and intangible amortization charges and accretive thereafter. The transaction is expected to close in Q3.
07:33 EDTVRXValeant price target raised to $285 from $275 at Canaccord
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07:05 EDTAGNAllergan Q2 to alleviate competitive concerns, says JPMorgan
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06:06 EDTTWTRStocks with implied volatility above IV index mean; XOMA TWTR
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