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Stock Market & Financial Investment News

News Breaks
March 18, 2014
07:39 EDTAGN, ACT, AUXL, ENDPAuxilium would be "ideal" takeover target, says Stifel
Stifel sees Auxilium as an "ideal" target, due to its men’s health/urology platform. The firm thinks that the most likely suitors would be Allergan (AGN), Endo Health (ENDP), and Actavis (ACT). It believes that Allergan would be the best match, and predicts that Auxilium could be bought for a 15%-30% premium. The firm stipulates that it does not know of any M&A talks involving Auxilium. It keeps a Buy rating on Auxlium.
News For AUXL;AGN;ENDP;ACT From The Last 14 Days
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September 9, 2014
17:06 EDTACTFDA panel votes against Actavis blood pressure pill, Bloomberg says
FDA advisers said that Actavis's experimental pill that combines two existing drugs to lower high blood pressure doesn’t provide a clinically meaningful benefit over the two drugs alone, says Bloomberg. The advisory panel voted 6 to 4 against recommending the treatment, added Bloomberg. Shares of Actavis are trading down almost 1% in after-hours trading. Reference Link
17:03 EDTAUXLAuxilium announces corporate restructuring, will cut headcount approximately 30%
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16:55 EDTAUXLAuxilium trading halted, pending news
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16:04 EDTAGNPershing Square reports 9.7% stake in Allergan, sends letter to board
Pershing Square Capital Management sent a letter to the board of Allergan that highlights several reasons why Allergan is extremely shareholder unfriendly and why now is the time for Allergan's management team to wake up. In the letter, Pershing Square said: "Since the bid was announced in April, 75% of Allergan’s shareholders have sold all or a portion of their investment including the company’s largest shareholder, which has sold its entire position. These shareholders are sending the board a message. They would not have sold if they believed that Allergan stock was worth more than current values... We note CFO Jeff Edwards recent decision to retire from the company at age 53 for family reasons, and his replacement by an investor relations executive rather than an experienced public company CFO. The notion that Allergan should execute the largest acquisition in its history led by an investor relations executive is a frightening proposition. While we respect an executive’s need to retire from a company for family reasons, Edwards exit also calls into question the company’s forward earnings guidance which shareholders expected him to execute on when the Company presented these projections on July 21st. I had expected that at some point one or more directors would have woken up and smelled the coffee. There is still time for a subset of directors to rescue their reputations by taking over leadership of this process from David Pyott and his handpicked advisors and doing what you are paid $400,000 per year to do on behalf of the company’s owners."
10:18 EDTACTDollar General listed among 5 largest long positions by Jana Partners
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06:42 EDTAGNLew expects to make decision on combating inversion deals soon, NY Times reports
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September 8, 2014
16:33 EDTENDPEndo reports TOPAS System improves fecal incontinence in women
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07:31 EDTENDPEndo announces launch of generic Fortesta gel
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07:21 EDTAGNJazz looks more attractive for Allergan than Salix, says Wells Fargo
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September 5, 2014
10:05 EDTAGN, ACTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Actavis (ACT) initiated with a Buy at ISI Group... Akamai (AKAM) initiated with a Buy at UBS... Alexion (ALXN) initiated with a Buy at SunTrust... Allegion (ALLE) initiated with a Buy at Buckingham... Allergan (AGN) initiated with a Buy at ISI Group... Aviat Networks (AVNW) initiated with a Neutral at H.C. Wainwright... Celgene (CELG) initiated with a Buy at SunTrust... EZCORP (EZPW) initiated with a Hold at Jefferies... Eaton (ETN) initiated with a Neutral at Buckingham... Emerson (EMR) initiated with a Neutral at Buckingham... HMS Holdings (HMSY) initiated with an Overweight at Stephens... Incyte (INCY) initiated with a Buy at SunTrust... Ingersoll-Rand (IR) initiated with a Neutral at Buckingham... Insmed (INSM) initiated with an Outperform at Cowen... Intercept (ICPT) initiated with an Outperform at Cowen... Johnson & Johnson (JNJ) initiated with an Outperform at BMO Capital... Lennox (LII) initiated with a Neutral at Buckingham... Mylan (MYL) initiated with a Hold at ISI Group... Orion Engineered Carbons (OEC) initiated with a Buy at Goldman... Parker-Hannifin (PH) initiated with a Buy at Buckingham... Pentair (PNR) initiated with a Neutral at Buckingham... Pharmacyclics (PCYC) initiated with a Neutral at SunTrust... Rockwell Automation (ROK) initiated with a Neutral at Buckingham... Sabre (SABR) initiated with an Outperform at Oppenheimer... Santander Consumer (SC) initiated with a Buy at Jefferies... Springleaf (LEAF) initiated with a Buy at Jefferies... Susser Petroleum (SUSP) initiated with a Neutral at Credit Suisse... Teva (TEVA) initiated with a Buy at ISI Group... Valeant (VRX) initiated with a Buy at ISI Group... WESCO (WCC) initiated with a Neutral at Buckingham... Watsco (WSO) initiated with a Neutral at Buckingham... Weyerhaeuser (WY) initiated with a Neutral at JPMorgan... World Acceptance (WRLD) initiated with a Hold at Jefferies.
08:00 EDTACTActavis announces FDA acceptance of the NDA filing for ceftazidine-avibactam
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September 4, 2014
19:12 EDTAGNAllergan provides update on requests from Pershing regarding special meeting
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17:17 EDTAGNAllergan initiated with a Buy at ISI Group
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17:16 EDTACTActavis initiated with a Buy at ISI Group
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09:44 EDTAGNValeant, Ackman deliver another 2.8% consent vote to Allergan, CNBC reports
Valeant (VRX) and Bill Ackman delivered another 2.8% consent vote to Allergan, bringing its total vote to call a special meeting to 33.8%, CNBC's David Faber reports, citing sources. A special meeting has been set for December 18, Faber added.
September 2, 2014
10:02 EDTENDPOn The Fly: Analyst Initiation Summary
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09:23 EDTACTActavis announced FDA accepted filing of eluxadoline's NDA
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09:07 EDTAGNAllergan filed answer in federal court reponding to Valeant, Pershing claims
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08:05 EDTAGNAllergan says Ozurdex apporved in EU for treatment of diabetic macular edema
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06:42 EDTENDPEndo initiated with an Outperform at RBC Capital
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