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Stock Market & Financial Investment News

News Breaks
August 5, 2014
08:02 EDTAGN, VRXAllergan says Valeant results contain 'inconsistencies and omissions'
Allergan (AGN) commented on Valeant's (VRX) release of its Q2 results. It stated, "Following Valeantís earnings conference call on July 31, 2014, Allerganís financial advisors and forensic accountants analyzed Valeantís reported financial and operating results, identifying numerous inconsistencies and omissions. Further, Valeantís 46-page July 31 second quarter 2014 investor presentation, while extensive in length, failed to provide investors with sufficient relevant information to gauge the true performance of Valeantís business or operations. In Allerganís view, Valeantís ongoing failure to provide complete, fully transparent information and relevant supporting data for its performance remains a significant and growing concern among Allerganís stockholders and the overall investment community. At the same time, there continues to be an overwhelming divergence between Valeantís reported GAAP and non-GAAP results, additionally highlighting the opaqueness of Valeantís financial reporting. Given that a substantial portion of Valeantís hostile exchange offer for Allerganís stock consists of Valeant stock, it is crucial that Allerganís stockholders have all of the information necessary to evaluate the true performance of Valeantís business, and consequently, Valeantís equity."
News For AGN;VRX From The Last 14 Days
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June 29, 2015
17:22 EDTAGNAllergan reports 6.7% stake in KYTHERA
June 26, 2015
16:16 EDTVRXOn The Fly: Top stock stories for Friday
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09:37 EDTVRXValeant unlikely to pursue Zoetis acquisition, CNBC's Faber says
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09:33 EDTVRXValeant made Zoetis approach as courtesy to Ackman, CNBC reports
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09:33 EDTVRXValeant not going to pursue Zoetis acquisition, CNBC's Faber reports
06:06 EDTVRXZoetis downgraded to Market Perform from Outperform at BMO Capital
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06:02 EDTVRXJPMorgan assumes Valeant pays $60/share for Zoetis
JPMorgan analyst Chris Schott believes Zoetis (ZTS) would bring "an attractive, durable, cash-pay business" to Valeant's portfolio should a merger occur. The Wall Street Journal last night reported that Valeant has approached Zoetis regarding a potential takeover. Schott sees the deal being minimally accretive to near-term earnings, and assumes Valeant pays $60 per share for Zoetis, or a 20% premium to Wednesday's closing price. The analyst thinks any offer would include a substantial equity component given Valeant's levered balance sheet following the Salix acquisition. Schott keeps an Overweight rating on Valeant and a Neutral rating on Zoetis.
June 25, 2015
16:13 EDTVRXValeant made preliminary takeover approach to Zoetis, WSJ reports
Valeant Pharmaceuticals (VRX) made a preliminary approach regarding a potential deal to buy Zoetis (ZTS), said The Wall Street Journal, citing people familiar with the matter. The report said it was not clear if Zoetis is open to a sale or what was the companyís reaction to the approach. Zoetis share spiked more than 11% into the close following the report and are up another 1% to $55.95 in after hours trading. Reference Link
15:58 EDTVRXZoetis jumps 11%, halted for circuit breaker after report of Valeant approach
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15:57 EDTVRXValeant made preliminary takeover approach to Zoetis, DJ reports
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08:13 EDTAGNAllergan CEO: Irvine campus Ďcrucialí to company, L.A. Times reports
New Allergan CEO Brent Saunders said that the companyís Irvine, California campus is ďcrucialĒ to the recently purchased organization, the L.A. Times reports, citing comments from Saunders in an interview. Allergan was purchased in March by Actavis, a move which led to the layoff of roughly 600 employees from the Irvine offices, the report says. Saunders said that the ďbleeding has stoppedĒ after a round of layoffs, the L.A. Times says. Reference Link
June 23, 2015
09:20 EDTVRXValeant and Progenics announces submission of NDA to FDA for RELISTOR
Valeant Pharmaceuticals International (VRX) and Progenics Pharmaceuticals (PGNX) announced that Valeant submitted a New Drug Application, or NDA, to the FDA for RELISTOR, or methylnaltrexone bromide, Tablets for the treatment of opioid-induced constipation in adult patients with chronic non-cancer pain.
07:25 EDTVRXPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
June 19, 2015
16:24 EDTAGNStocks end week higher after Fed reassures on gradual pace of rate increases
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