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Stock Market & Financial Investment News

News Breaks
March 3, 2013
13:38 EDTBMY, SHPG, BIIBUnclear if pipeline alone can restore Bristol's growth, WSJ says
With Bristol-Myers' (BMY) losing Plavix patent exclusivity, the company took a 17% hit in revenues in 2012, and is now counting on new drugs like Eliquis and late-stage drugs aiming to treat cancer, diabetes and hepatitis C to restore growth, says the Wall Street Journal. However, "it remains unclear whether new drugs alone will be enough to restore growth," says WSJ, adding that in recent months Bristol has studied the possibility of Biogen Idec (BIIB) Shire (SHPG) as possible acquisition targets. Reference Link
News For BMY;SHPG;BIIB From The Last 14 Days
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July 18, 2014
10:30 EDTSHPGAbbVie says can't back out of Shire deal based on tax law change, Bloomberg says
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09:29 EDTSHPGAbbVie, Shire says merger should help in enhanced buyback and dividend programs
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06:23 EDTSHPGShire raises FY14 EPS to low-to-mid 30% growth from mid-to-high teens
Raises FY14 product sales guidance to growth in high teens from mid-to-high teens. Shire continues to expect royalties and other revenues to be 10%-15% lower than 2013.
06:19 EDTSHPGShire reports Q2 EPS $2.67, consensus $2.45
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05:17 EDTSHPGAbbVie, Shire agree on merger worth GBP32B pounds
The boards of AbbVie (ABBV) and Shire (SHPG) announced that they have reached agreement on the terms of a recommended combination of Shire with AbbVie. Under the terms of the Merger, Shire shareholders will be entitled to receive per share GBP 24.44 in cash and 0.8960 new AbbVie shares. Immediately following the transaction, Shire shareholders are expected to hold new AbbVie Shares representing approximately 25% of the issued share capital of new AbbVie. AbbVie expects the transaction to be accretive to adjusted earnings per share in the first year following completion, growing to above $1.00 per share by 2020, with "material ongoing financial and operating benefits." The AbbVie board also expects the transaction to reduce New AbbVie's effective tax rate to approximately 13% by 2016. The Shire board said it "considers the terms of the Transaction to be fair and reasonable." In order to undertake the transaction, AbbVie has formed a new company, New AbbVie, which is incorporated in Jersey, Shire's current place of incorporation. Following completion of the Transaction, New AbbVie will become the holding company of the Shire Group and the AbbVie Group. It is intended that the New AbbVie Shares will be listed on the New York Stock Exchange.
05:12 EDTSHPGAbbVie to acquire Shire for 52.48 pounds per share in cash, stock
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July 17, 2014
13:34 EDTSHPGShire reports results from Vyvanse vs. Concerta studies in adolescents with ADHD
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12:56 EDTSHPGAbbVie set to announce GBP 31B deal to buy Shire, FT says
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12:54 EDTSHPGAbbVie set to announce GBP 31B deal to buy Shire, FT says
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11:12 EDTSHPGOptions with decreasing implied volatility
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08:08 EDTBMYBristol-Myers, Pfizer announce enrollment in Phase IV EMANATE trial for Eliquis
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July 16, 2014
10:35 EDTSHPGOptions with decreasing implied volatility
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07:59 EDTSHPGTreasury Secretary urges Congress to take action on tax inversions
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06:26 EDTBMYBristol-Myers lung cancer trials being underestimated, says Citigroup
After building a statistical model of Bristol-Myers' two critical registration trials for Opdivo in lung cancer, Citigroup believes the market is "materially" underestimating both Phase III trials. Citi says potential Opdivo FDA approval in 2015 in lung cancer would give Bristol-Myers an up to two year lead time versus Merck (MRK) and Roche (RHHBY). The firm estimates 2023 Opdivo revenue at $7B and reiterates a Buy rating on Bristol with a $60 price target.
05:53 EDTSHPGStocks with implied volatility below IV index mean; LO SHPG
Stocks with implied volatility below IV index mean; Lorillard (LO) 21, Shire (SHPG) 31 according to iVolatility.
05:47 EDTSHPGStocks with implied volatility movement; SHPG XLP
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July 15, 2014
11:13 EDTBMYPerrigo retreats after analyst sees limited potential buyers
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10:37 EDTSHPGOptions with decreasing implied volatility
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07:35 EDTBMYPerrigo potential buyers list could be limited, says Jefferies
After Globes reported that Perrigo retained an investment bank to assist with a potential merger, Jefferies says the list of potential buyers could be limited since the store brand business is fundamentally a high volume, lower margin model. The firm notes U.S. companies that currently do not have large over-the-counter divisions include Bristol-Myers (BMY), Eli Lilly (LLY) and Merck (MRK). Jefferies views the merger speculation surrounding Perrigo as not surprising given the company's strong long-term fundamentals and attractive Irish domicile. It has a Buy rating on the stock with a $160 price target.
06:04 EDTSHPGStocks with implied volatility below IV index mean; BBBY SHPG
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