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Stock Market & Financial Investment News

News Breaks
August 5, 2014
09:53 EDTAGN, VRXGlass Lewis recommends Allergan investors support calls for special meeting
Pershing Square Capital Management, the largest shareholder of Allergan (AGN), announced that on August 4, Glass Lewis & Co. recommended that Allergan shareholders support Pershing Square’s efforts to call a special meeting of shareholders and that shareholders take the steps necessary under Allergan’s bylaws to call a special meeting. Glass Lewis’s recommendations are relied upon by hundreds of major institutional investment firms, mutual and pension funds and other fiduciaries. At the Special Meeting, Allergan shareholders will have the opportunity to voice their support for a number of critical matters, including the removal of six incumbent members of the Allergan board, the appointment of an independent slate of directors, amendments to Allergan’s bylaws to eliminate onerous restrictions on the calling of a special meeting and certain other actions to improve corporate governance of Allergan. Pershing Square CEO Bill Ackman commented: “We’ve said all along that the Allergan board was more concerned with protecting itself than providing value to its shareholders. We’re pleased Glass Lewis agrees with us on that point and has endorsed the call for a special meeting of Allergan shareholders. We ask Allergan’s board to consider the criticisms reflected in the Glass Lewis report and address them by, among other things, quickly engaging with Valeant (VRX) on its strategically compelling offer to acquire Allergan.”
News For AGN;VRX From The Last 14 Days
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December 19, 2014
10:59 EDTAGNActavis considering bid for Spain based Almirall, Bloomberg reports
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08:05 EDTVRXValeant outlook has improved, says RBC Capital
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December 17, 2014
10:53 EDTVRX, AGNAckman says 'will take hard look' at Valeant shares after restrictions end
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10:02 EDTAGNOn The Fly: Analyst Downgrade Summary
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06:28 EDTAGNAllergan downgraded to Neutral from Buy at UBS
UBS downgraded Allergan (AGN) to reflect acquisition by Actavis (ACT).
December 16, 2014
09:28 EDTAGNAllergan to host special shareholder meeting
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08:53 EDTAGNActavis accretion targets look more achievable, says Sterne Agee
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07:40 EDTAGNActavis reports Saunders to lead combined company as CEO
Actavis (ACT) announced the planned senior management team that will lead the global pharmaceutical company following the successful close of the acquisition of Allergan (AGN), anticipated in the second quarter of 2015. Brent Saunders will continue to lead Actavis as CEO and President and a member of the Board of Directors. Paul Bisaro will remain Executive Chairman of the board of directors. The company noted that it anticipates continuing to define the subsequent management levels within the global organization as rapidly as possible between now and the close of the acquisition. Actavis announced that, following the close of the acquisition, its global brand sales and marketing will be structured into three organizations: International Brands, Branded Pharma and Allergan Medical. "Although we are acting rapidly in announcing these appointments, we are making them following extensive discussions with David Pyott, Chairman and CEO of Allergan, and his executive leadership team. We believe that by announcing the proposed structure of the combined organization our shareholders, customers and employee teams will better appreciate our commitment to create the most dynamic company in Growth Pharma and will share our confidence in seamless execution of this combination beginning on Day 1," Saunders said.
December 15, 2014
10:00 EDTAGNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: UPS (UPS) downgraded to Hold from Buy at Deutsche Bank... CGG SA (CGG) downgraded to Underperform from Market Perform at Raymond James... Ford (F) downgraded to Hold from Buy at Deutsche Bank... Cenovus Energy (CVE) downgraded to Market Perform from Outperform at BMO Capital... Cobalt (CIE) downgraded to Neutral from Buy at Goldman... Gastar Exploration (GST) downgraded to Neutral from Buy at SunTrust... Itau Unitbanco (ITUB) downgraded to Neutral from Buy at Goldman... Methanex (MEOH) downgraded to Outperform from Strong Buy at Raymond James... OGE Energy (OGE) downgraded to Hold from Buy at Jefferies... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Sempra Energy (SRE) downgraded to Neutral from Overweight at JPMorgan... HollyFrontier (HFC) downgraded to Neutral from Buy at BofA/Merrill... CNA Financial (CNA) downgraded to Market Perform from Outperform at William Blair... Allergan (AGN) downgraded to Hold from Buy at Stifel... RF Micro Devices (RFMD) downgraded to Neutral from Buy at DA Davidson.
07:58 EDTAGNAllergan downgraded to Hold from Buy at Stifel
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December 9, 2014
09:31 EDTAGN, VRXZoetis drops after report of Valeant abandoning growth by acquisitions strategy
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06:39 EDTVRXValeant to abandon growth by acquisitions strategy, Reuters says
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06:14 EDTAGNAllergan price target raised to $245 from $210 at Citigroup
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December 8, 2014
07:29 EDTAGNUBS to hold investor trip
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07:18 EDTAGNUBS to hold investor trip
2014 Annual West Coast Investor Trip travels on the West Coast on December 8-10.

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