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Stock Market & Financial Investment News

News Breaks
April 23, 2014
05:53 EDTAGN, VRXAllergan upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded its rating on Allergan (AGN) to Overweight saying it sees "compelling value" in a potential merger with Valeant (VRX). The firm sees limited downside in Allergan shares and raised its price target for the stock to $190 from $130. JPMorgan also upped its price target for Valeant shares to $180 from $170 and reiterates an Overweight rating on the name.
News For AGN;VRX From The Last 14 Days
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October 20, 2014
07:34 EDTVRX, AGNValeant says remains focused on completing Allergan transaction
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07:32 EDTVRXValeant narrows FY14 revenue view to $8.1B-$8.3B from $8B-$8.3B
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07:30 EDTVRX, AGNValeant CEO says 'can bid more than anyone' in financially sound Allergan deal
Pearson says "we cannot stop" another company from making a bid that does not make economic sense, but he believes Valeant (VRX) can "bid more than anyone" for Allergan (AGN) in a deal that makes financial sense. Pearson says he has met with doctor groups and that 95% of those he's spoken with support Valeant's bid for Allergan. Valeant CEO J. Michael Pearson spoke on CNBC.
07:28 EDTVRXValeant raises FY14 cash EPS to $8.22-8.32 from $7.90-$8.10
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07:16 EDTAGNAmerican Academy of Ophthalmology to hold annual meeting
AAO Annual Meeting 2014 is being held in Chicago on October 18-21.
07:06 EDTVRXValeant raises FY15 outlook cash EPS $10.00 from $9.90
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07:05 EDTVRXValeant raises Q4 cash EPS $2.45-$2.55 from $2.35-$2.45
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07:03 EDTVRXValeant reports Q3 cash EPS $2.11, Q3 GAAP EPS 81c
Reports Q3 revenue revenue $2.1B; Reports Q3 total same store sales organic growth 19%. Bausch + Lomb organic growth was 12%. Q3 GAAP Operating Cash Flow $619 million, an increase of 207%; Adjusted Operating Cash Flow $771 million, an increase of 89%
06:28 EDTAGNAllergan price target raised to $210 from $190 at Citigroup
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October 17, 2014
09:47 EDTAGN, VRXValeant will not raise Allergan bid ahead of record date, CNBC reports
Valeant (VRX) will not raise its hostile takeover bid for Allergan (AGN) ahead of the record date for the vote, CNBC's David Faber reports. Allergan (AGN) is not currently in takeover talks with Actavis (ACT), Faber added.
09:45 EDTAGNAllergan not in deal talks with Actavis, CNBC reports
09:43 EDTAGN, VRXValeant not going to raise Allergan bid ahead of meeting, CNBC reports
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October 16, 2014
12:42 EDTAGN, VRXAckman believes Allergan, Valeant merger likely, CNBC reports
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12:38 EDTAGN, VRXAckman says Allergan CEO manipulated Valeant shares, CNBC reports
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08:58 EDTAGNAllergan was pressured by AbbVie news, says BMO Capital
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07:23 EDTAGNIBF Conferences to hold a summit
Ophthalmology Innovation Summit is being held in Chicago on October 16.
October 15, 2014
15:00 EDTAGNShire-Allergan, AbbVie-Pfizer deals possible if merger scrapped, Bloomberg says
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13:07 EDTAGN, VRXAllergan seeing arb-related selling pressure, says BMO Capital
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October 14, 2014
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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