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Stock Market & Financial Investment News

News For BBY;SAM;CLWR;S;CVS;RIGL;ENDP;YELP;AAPL From The Last 14 Days
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September 17, 2014
13:57 EDTAAPLiPhone code compromises users, reroutes to fake eBay site, BBC says
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12:53 EDTSSprint management to meet with Jefferies
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12:27 EDTAAPLNet Element shares higher by over 29% after integrating Apple services
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12:22 EDTENDPOn The Fly: Midday Wrap
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12:15 EDTENDPAuxilium climbs, QLT falls after Endo submits takeover bid
Shares of drug maker Auxilium (AUXL) are rallying after another company in the sector, Endo (ENDP), offered to buy Auxilium for $28.10 per share. Endo said that Auxilium's 12 FDA approved products in urology, orthopedic and other areas are "natural complements" to Endo's men's health and pain products, while Auxiium said it would consider the offer. The potential deal, however, jeopardizes Auxiium's prior agreement to acquire another drugmaker, QLT Inc. (QLTI). WHAT'S NEW: Endo announced last night that it had made a cash and stock bid of $28.10, or $2.2B, for Auxilium. The latter company announced this morning that it would "carefully review" the offer. The two companies have "significant synergy opportunities" and the deal is "expected to be immediately accretive" to Endo's EPS, the hopeful buyer added. WHAT'S NOTABLE: On June 26, Auxilium announced that it would merge with Canada's QLT Inc. According to Sterne Agee analyst Shibani Malhotra, Endo said last night that it was not interested in acquiring QLT and Auxilium would have to choose between merging with QLT and being acquired by Endo. ANALYST REACTION: Although Endo's bid represents a 30%+ premium to Auxilium's closing price yesterday, Jefferies analyst Thomas Wei believes that the synergies outlined by Endo justify a higher takeout price. Specifically, the analyst thinks that Auxilium could be acquired for $34 to $45 per share. Wei kept a $34 price target and Buy rating on Auxilium. For his part, Malhotra predicted that Auxilium would approve the Endo deal and reject the QLT merger. The bid appears to be substantially accretive for Endo, added the analyst, who kept a $75 price target and Buy rating on Endo's shares. PRICE ACTION: In early afternoon trading, Auxilium surged over 43% to $30.88 and Endo advanced 6.5% to $69.35, while QLT dropped 12% to $5.46.
11:42 EDTAAPLVerizon says company-wide growth at moment is 'fine'
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10:43 EDTYELPYelp, TinyCo settle FTC charges on improperly collecting children's information
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10:15 EDTAAPLDiscover calls active, rumored to be eyed as target by Apple, report
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10:07 EDTAAPLApple could announce new products at October event, Apple Insider says
Apple is said to be planning an event for the second half of October where it will unveil more gadgets, a source tells Apple Insider. The company may unveil a next-generation iPad Air and iPad mini which is rumored to feature the company's Tough ID fingerprint sensor. Reference Link
10:04 EDTAAPLDiscover rumored to be eyed as target by Apple, Bank Innovation says
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09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFM X YHOO TSLA TWTR RAX SHLD SPLS
09:11 EDTENDPEndo offer likely to be accepted by Auxilium, says Sterne Agee
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09:10 EDTENDPOn The Fly: Pre-market Movers
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08:44 EDTENDPBioDelivery Sciences remains takeout candidate for Endo, says Summer Street
Summer Street believes a potential takeover of BioDelivery Sciences (BDSI) by partner Endo (ENDP) is no less likely after Endo made a bid to acquire Auxilium (AUXL). The firm believes an Endo buyout of BioDelivery is likely a 2015 event when BioDelivery's Bunavail for opioid dependence is on the market and BEMA Buprenorphine is facing FDA approval. Summer Street says it is a buyer of BioDelivery Sciences on weakness this morning and keeps a Buy rating on the name with a $28 price target.
08:06 EDTENDPAuxilium likely to require higher bid from Endo, says MKM Partners
After Endo (ENDP) made a $28.10 per share bid for Auxilium (AUXL), MKM Partners believes that Endo will probably have to bid at least $32 to buy Auxilium. The firm raised its price target on Auxilium to $32 from $26 and reiterates a Buy rating.
07:58 EDTENDPEndo, Auxilium deal can create significant synergies, says Canaccord
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07:43 EDTAAPLApple iPhone prices could rise, says RBC Capital
After conducting a survey of consumers, RBC Capital believes that average sales prices for Apple's iPhone could rise $90 quarter-over-quarter and $65 year-over-year, while gross margins could increase as a result of higher average memory per device. The firm raised its price target on the name to $114 from $110 and keeps an Outperform rating.
07:39 EDTENDPEndo deal for Auxilium highly complimentary, says UBS
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07:22 EDTAAPLEarly reviews point to iPhone 6 battery life similar to iPhone 5s, BI says
After analyzing the first round of major tech publications' reviews of the iPhone 6 and 6 Plus, Business Insider said critics have "mixed" opinion's on the battery life of the 6 and that it "seems like" the smaller phone's battery life won't be radically different from the iPhone 5s. Reference Link
07:15 EDTENDPEndo bid for Auxilium positive, says Wells Fargo
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