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Stock Market & Financial Investment News

News Breaks
May 5, 2014
06:02 EDTAGN, AZNStocks with implied volatility below IV index mean; AGN AZN
Stocks with implied volatility below IV index mean; AstraZeneca (AZN) 27, Allergan (AGN) 22.
News For AZN;AGN From The Last 14 Days
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November 12, 2014
07:01 EDTAGNAllergan announces approval of amendments to company bylaws
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06:22 EDTAGNZoetis price target raised to $49 from $44 at Citigroup
Citigroup raised its price target for Zoetis (ZTS) shares to $49 after activist Pershing Square confirmed the accumulation of a 10% stake in the company. Citi thinks Pershing is interested in advocating for a sale of Zoetis, potentially to Valeant (VRX) if its bid for Allergan (AGN) fails. Citi believes others, including Bayer (BAYRY), could be interested in acquiring Zoetis. It keeps a Buy rating on the stock.
November 11, 2014
16:05 EDTAZNAmgen, AstraZeneca say Phase 3 brodalumab study met endpoints
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15:46 EDTAGNPershing Square, Sachem Head build 10% stake in Zoetis, WSJ reports
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15:43 EDTAZNLeerink major pharma & biotech analysts hold analyst/industry conference call
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08:32 EDTAGNValeant likely to raise offer for Allergan again, says Bernstein
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November 9, 2014
13:26 EDTAGNAckman's Allergan court win may prove costly down the road, Bloomberg says
When U.S. District Court Judge David Carter ruled on November 4 that Pershing Square can vote its 9.7% stake in Allergan (AGN) in a shareholder ballot aiming to remove Allergan directors, he also noted that there were “serious questions” regarding insider trading rules in the way Pershing Square acquired Allergan stock while preparing a bid with Valeant (VRX), says Bloomberg. Reference Link
November 7, 2014
14:56 EDTAGNAllergan says Valeant offers to date inadequate, would consider increased bid
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09:49 EDTAGNAckman says Allergan 'tipping scales' in Actavis’ favor, disadvantaging Valeant
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November 6, 2014
10:30 EDTAGNAllergan disclosure today forced by SEC, CNBC's Faber reports
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10:05 EDTAGNActavis talks to buy Salix put on hold, Bloomberg says
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09:28 EDTAGNActavis in active talks to acquire Allergan, Bloomberg reports
Actavis (ACT) is in active talks to acquire Allergan (AGN), Bloomberg reports, citing sources. Allergan earlier today disclosed in a filing that it has been approached by another party and that talks "may lead to negotiations." Shares of Allergan are up 1.1% to $198.50 in pre-open trading while Actavis is up 1% to $250.07. Valeant (VRX) is down 1.8% to $129.58. Reference Link
09:24 EDTAGNActavis in active talks to acquire Allergan, Bloomberg reports
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09:11 EDTAGNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tesla (TSLA), up 0.6%... CBS (CBS), up 2.3%... Whole Foods (WFM) up 8.4%... American Capital (ACAS), up 9.5%... Horizon Pharma (HZNP) up 6.8%... Kate Spade (KATE), up 10%. ALSO HIGHER: Planar Systems (PLNR), up 70%, upgraded at Needham following the company's Q4 results... Tableau (DATA), up 9.8%, upgraded at RBC Capital following the company's Q3 earnings report... Allergan (AGN), up 1% after disclosing in new regulatory filing that discussions between the company and another unnamed party regarding a potential merger transaction have continued and "may lead to negotiations.” DOWN AFTER EARNINGS: Qualcomm (QCOM), down 6.9%... Zillow (Z), down 6.7%... PhotoMedex (PHMD), down 17.3%... Kulicke & Soffa (KLIC), down 7%... BioScrip (BIOS), down 5.8%. ALSO LOWER: Solazyme (SZYM), down 47%, downgraded at RW Baird, Pacific Crest and Cowen following the company's Q3 report... Genworth (GNW), down 23%, downgraded at Compass Point following the company's Q3 results... Cornerstone OnDemand (CSOD), down 19%, downgraded at various firms including William Blair and FBR Capital following the company's Q3 report.
09:06 EDTAGNAllergan says approach may lead to merger negotiations
Allergan (AGN) disclosed in new regulatory filing, “Notwithstanding the foregoing, we have been approached by another party regarding a potential merger transaction. Discussions between us and that party have continued and may lead to negotiations.” It has been reported that the unnamed party is Actavis (ACT). Allergan is attempting to fend off a hostile takeover by Valeant (VRX).
06:35 EDTAZNAstraZeneca CEO says tax revisions cripple new Pfizer offer, Reuters says
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05:51 EDTAZNAstraZeneca targets 2015 EPS to be no less than low end of 2014 range
AstraZeneca said, "For 2015, the Company plans to continue to selectively invest in its growth platforms and accelerating pipeline while managing overall costs. Assuming current exchange rates, the Company is targeting Core EPS for 2015 to be no less than the lower end of the range of the upgraded guidance for Core EPS for 2014 at actual exchange rates. Guidance for 2015 is expected to be provided with 2014 results on 5 February 2015."
05:50 EDTAZNAstraZeneca raises 2014 revenue growth outlook to low single digits at CER
AstraZeneca said 2014 revenue is now expected to increase in low single digits at CER, an upgrade to its previous guidance for revenue to be in line with 2013 at CER. The guidance assumes no U.S. Nexium generic in 2014. It added, "In light of the increase in revenue expectations for the year, the Company is accelerating its investments in its growth platforms and expanding pipeline. Core EPS for 2014 is now expected to decrease at around 10% at CER; better than anticipated in previous guidance. In addition, Core EPS for 2014 at actual exchange rates is expected to be impacted negatively by currency by around 5%, assuming current exchange rates."
05:49 EDTAZNAstraZeneca reports Q3 core EPS $1.05, consensus $1.04
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05:37 EDTAZNAegerion acquires Myalept from AstraZeneca for $325M
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