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Stock Market & Financial Investment News

News For LEAP;XOM;BP;NOV;WYNN;ENDP;CIEN;ETH;IPAR;NDAQ;EZPW;CME;CLWR;ADBE From The Last 14 Days
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October 13, 2014
07:11 EDTCMECME Group downgraded to Market Perform from Outperform at Wells Fargo
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06:41 EDTENDPEndo upgraded to Hold from Sell at Cantor
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06:36 EDTBP, XOMSaudi Arabia content to let oil prices stay low, Reuters reports
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October 12, 2014
13:53 EDTXOM, BPKuwaiti Minister says OPEC unlikely to cut production, WSJ says
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13:45 EDTBP, XOMSaudis take aggressive oil measures in Europe, WSJ says
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October 10, 2014
18:17 EDTXOMExxon Mobil to receive less than $1B from Venezuelan government, Reuters says
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10:01 EDTENDPOn The Fly: Analyst Upgrade Summary
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09:05 EDTBPBP begins $1.1B North Sea project, Bloomberg says
BP CEO Bob Dudley said that the company is poised to begin a project worth close to $1.1B in the North Sea this month, which is anticipated to supply oil and gas into the next ten years, according to Bloomberg, citing comments from Dudley. Reference Link
05:50 EDTENDPEndo upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Endo (ENDP) to Overweight with an $84 price target citing an improved asset base following the takeover of Auxilium (AUXL).
05:47 EDTENDPAuxilium downgraded to Neutral from Buy at Mizuho
Mizuho downgraded Auxilium (AUXL) to Neutral following the company's agreement to be acquired by Endo (ENDP). The firm expects shareholders to approve the deal and does not expect a competing bid.
October 9, 2014
13:47 EDTXOMICSID: Venezuela must pay Exxon $1.6B for nationalizations
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09:20 EDTENDPOn The Fly: Pre-market Movers
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09:00 EDTENDPEndo says its not in position to give FY15
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08:49 EDTENDPEndo sees low-double digit revenue growth with Auxilium portfolio
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08:37 EDTENDPEndo expects Auxilium acquisition immediately accretive post close
Endo (ENDP) says the deal will provided expected annual run rate synergies of up to $175M by the first year after closing versus Auxilium's (AUXL trailing 12-month actuals as of June 30. Says synergies include Auxilium's $75M reduction in annual operating expenses previously announced. Says the deal is expected to "significantly'" enhance Endo's branded pharmaceutical business with the addition of Auxilium's men's health products and development portfolio. Says the agreement is designed to "accelerate growth" and maximize value of Auxilium's products by leveraging strengths of combined company. Says combined company will be "well positioned" to drive organic growth for branded pharmaceutical business. Says deal creates a "strong" margin profile and an enhanced near-and long-term revenue growth profile. Comments taken from the company's slide presentation regarding its combination with Auxilium.
07:49 EDTENDPEndo and Auxilium host a joint conference call
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06:32 EDTENDPEndo to acquire Auxilium in cash, stock transaction for approximately $2.6B
Endo (ENDP) and Auxilium Pharmaceuticals (AUXL) announced that they have entered into a definitive agreement under which Endo will acquire all of the outstanding shares of common stock of Auxilium for a per share consideration of $33.25 in a cash and stock transaction. The boards of both companies have unanimously approved the transaction, which is valued at $2.6B, including the repayment and assumption of debt. The transaction will include an election mechanism for Auxilium stockholders to elect cash and stock, all-stock or all-cash consideration, subject to proration in accordance with the terms of the definitive agreement. The per share consideration represents a premium of 55% to Auxilium's closing price on September 16, the day Endo made public its proposal for Auxilium. Subject to aggregate cash and equity consideration limits, Auxilium stockholders may elect one of three options with respect to transaction consideration: 100% equity which equates to 0.488 Endo shares per Auxilium share, 100% cash which equates to $33.25 per Auxilium share or a standard election of an equal mix of $16.625 in cash and 0.244 Endo shares per Auxilium share. The total cash consideration will not exceed 50% of the total equity value and the equity consideration will not exceed 75% of the total equity value. The transaction is expected to close in 1H15 and is subject to the approval of Auxilium's stockholders, regulatory approval in the U.S. and certain other jurisdictions, and other customary closing conditions.
06:31 EDTENDPEndo to acquire Auxilium in cash, stock transaction for approximately $2.6B
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October 8, 2014
10:00 EDTNOVOn The Fly: Analyst Downgrade Summary
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05:57 EDTNOVNational Oilwell downgraded to Neutral from Overweight at HSBC
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