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News Breaks
February 4, 2013
14:45 EDTAGNEarnings Preview: Allergan up approximately 15% year-to-date
Allergan (AGN) is scheduled to report Q4 earnings before the market open on Tuesday February 5, with a conference call scheduled for 11:00 am ET. Allergan is a multi-specialty health care company focused on discovering, developing and commercializing innovative pharmaceuticals, biologics, medical devices and over-the-counter consumer products... EXPECTATIONS: Analysts are looking for EPS of $1.18 on revenue of $1.51B, according to First Call. The consensus range for EPS is $1.13-$1.21 on revenue of $1.48- $1.53B... LAST QUARTER: Allergan reported Q3 EPS of $1.06 against estimates of $1.04 on revenue of $1.41B against estimates of $1.43B. At the time of its Q3 earnings release, Allergan gave Q4 EPS guidance of $1.18-$1.20 against consensus estimates of $1.20 on revenue of $1.47B-$1.55B on consensus estimates of $1.51B... STREET RESEARCH: In a research note from February 4, Buckingham said it is keeping its Buy rating on Allergan shares on attractive longer term growth prospects, but noted that with shares up ~ 17% year-to-date, some volatility in share price should be expected. The firm also noted that it would be more aggressive on shares with any potential weakness. On January 25, Leerink raised Allergan's price target to $116-$117 from $103-$104 to reflect its positive view of recent acquisitions and long-term prospects for the company. Leerink kept an Outperform rating on the stock... PRICE ACTION: Allergan shares are up approximately 15% since January 1. In late afternoon trading, Allergan shares are down about 1.5% to $105.30.
News For AGN From The Last 14 Days
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March 23, 2015
16:14 EDTAGNPershing Square liquidates stake in Allergan
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09:03 EDTAGNLeerink analysts hold a meeting with a conference call hookup
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March 17, 2015
09:13 EDTAGNActavis says Allergan CEO not joining combined company board
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08:58 EDTAGNActavis sees double digit accretion to adjusted EPS within first 12 months
08:58 EDTAGNActavis says will 'immediately begin implementing' integration plans
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08:57 EDTAGNActavis completes acquisition of Allergan
Actavis plc (ACT) announced that it has completed the acquisition of Allergan (AGN) in a cash and equity transaction valued at approximately $70.5B. The combination creates one of the world’s top 10 pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23B anticipated in 2015. Actavis continues to expect the transaction to generate double-digit accretion to non-GAAP earnings within the first 12 months, including approximately $1.8B in operating and financial synergies to be realized within one year following the close. These synergies exclude any additional revenue or manufacturing synergies, and are in addition to the $475M of annual savings previously announced by Allergan in connection with Project Endurance. Actavis further expects to generate strong operating cash flow in excess of $8B in 2016, which would enable the company to rapidly de-lever the balance sheet.
08:56 EDTAGNActavis completes Allergan acquisition valued at $70.5B
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March 16, 2015
18:38 EDTAGNAmerican Airlines to replace Allergan in S&P 500 as of 3/20 close
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17:19 EDTAGNAmerican Airlines to replace Allergan in S&P 500 as of 3/20 close
10:22 EDTAGNEuropean Commission clears Actavis' pending acquisition of Allergan
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10:14 EDTAGNOptions with decreasing implied volatility
Options with decreasing implied volatility: EXPR ULTA SGMS QIHU BKS PAY URBN AGN AGNC

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