New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 17, 2014
16:45 EDTAGN, VRXPershing Square looks to obtain consents for special meeting
Pershing Square, who along with Valeant (VRX) own 9.7% of Allergan's (AGN) outstanding shares sent a letter on July 16 to Allergan's board which addressed the Allergan's response to Valeantís acquisition proposal. The letter said in part: "In my 21-year history as a governance investor, I cannot think of another example in our portfolio where a board has behaved as poorly as you have in your response to the Valeant merger proposal...You have accused Valeant of fraudulent accounting and of falsifying its reported growth rates and business performance, and you have done so without factual evidence to prove these assertions. If one spreads false and misleading information for the purpose of driving down Valeantís stock price, that is market manipulation, plain and simple. That a board of a $50B market cap company would engage in such behavior as a defensive tactic is extraordinary and incredibly inappropriate. ..We remind you that the current value of Valeantís stock does not reflect the value ultimately received by Allergan shareholders because Valeantís stock currently trades at a substantial discount due to Allerganís scorched earth, negative information campaign against Valeant, the uncertainty of transaction consummation due to Allerganís defensive tactics, and the resulting delays in time to closure...We are now working to obtain the consents to call a special meeting, and upon their receipt, we will ask the board to call the meeting. While under the companyís highly restrictive and cumbersome special meeting mechanics, you have the ability to delay the meeting for up to 120 days, we on behalf of Allerganís other shareholders ask that you do not delay the inevitable any further. What legitimate board of directors attempts to silence or otherwise delay hearing what its own shareholders have to say? Shareholders are looking forward to expressing their views."
News For AGN;VRX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
July 26, 2015
12:30 EDTAGNTeva nears deal to buy Allergan generics unit for $40.5B, Bloomberg says
Teva (TEVA) is nearing a deal to buy Allergan's (AGN) generic drug unit for roughly $40.5B and an agreement could be announced as early as Monday, reports Bloomberg, citing people familiar with the matter. Sources said Teva also plans to withdraw its bid for Mylan (MYL) as soon as Monday. Reference Link
12:17 EDTAGNTeva to cancel Mylan bid, plans offer for Allergan generics unit, Bloomberg says
Subscribe for More Information
July 24, 2015
18:36 EDTAGNAllergan considers split into two businesses, Bloomberg reports
Subscribe for More Information
18:25 EDTAGNAllergan considering breakup of company, Bloomberg reports
Allergan is reportedly working with advisors and leaning towards a sale or spinoff of generics, Bloomberg added.
07:06 EDTVRXValeant price target raised to $285 from $255 at UBS
Subscribe for More Information
06:51 EDTVRXValeant price target raised to $290 from $250 at JPMorgan
JPMorgan analyst Chris Schott raised his price target for Valeant Pharmaceuticals to $290 citing the company's "very strong" Q2 results. Schott sees further upside to estimates and reiterates an Overweight rating on the stock.
July 23, 2015
12:12 EDTVRXValeant beats RBC as biggest Canadian company by market value, Bloomberg says
Valeant (VRX) has surpassed Royal Bank of Canada (RY) as the largest Canadian company by market value on the Toronto Stock Exchange, Bloomberg reports. Valeant surged 4.5% to a total market value of C$111.3B at 11:21 AM in Toronto, beating the Royal Bank's C$108.3B market value, the report says. Reference Link
06:29 EDTVRXValeant raises FY15 cash EPS view to $11.5-$11.80 from $10.90-$11.20
Subscribe for More Information
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
Subscribe for More Information
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
Subscribe for More Information
06:05 EDTVRXValeant sees Q3 cash EPS $2.60-$2.70, revenue $2.6B-$2.8B
Subscribe for More Information
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 21, 2015
10:01 EDTVRXOn The Fly: Analyst Initiation Summary
Subscribe for More Information
July 20, 2015
16:15 EDTVRXValeant initiated with a Buy at BTIG
Subscribe for More Information
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 "greatĒ 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.
07:33 EDTVRXValeant price target raised to $285 from $275 at Canaccord
Subscribe for More Information
07:05 EDTAGNAllergan Q2 to alleviate competitive concerns, says JPMorgan
Subscribe for More Information
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use