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Stock Market & Financial Investment News

News Breaks
April 29, 2014
07:32 EDTSHPG, CBSTCubist volatility expected to move on Shire rumored to weigh bid report
Cubist (CBST) option volatility is expected to move on Shire (SHPG) rumored to weigh a bid, FT Alphaville says. Overall option implied volatility of 41 is above its 26-week average of 38 according to Track Data, suggesting large price movement.
News For CBST;SHPG From The Last 14 Days
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August 4, 2015
17:00 EDTSHPGOn The Fly: Top stock stories for Tuesday
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15:51 EDTSHPGBaxalta reaffirms conclusion that Shire proposal undervalues company
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14:45 EDTSHPGAllergan, Pfizer have most near-term deal capacity, says JPMorgan
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12:20 EDTSHPGOn The Fly: Top stock stories at midday
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12:03 EDTSHPGJPMorgan surprised by Shire's choice of targets
JPMorgan analyst James Gordon says he's surprised Shire (SHPG) chose to go after Baxalta (BXLT) rather than a biotech asset that could warrant a higher valuation multiple or a synergistic asset that would drive earnings accretion. Baxalta's focus on Haemophilia would increase Shire's rare disease exposure, but also its exposure to the "highly competitive" Haemophilia market, Gordon argues in a research note after Shire announced a hostile takeover offer for the recent Baxter (BAX) spinoff. Such a deal would bring mid teens earnings per share accretion, however, the analyst writes. He views Baxalta as not a "great strategic fit” for Shire. Gordon has an Overweight rating on the name. Shares of Shire are down $18.81 to $249.27 in midday trading.
09:16 EDTSHPGOn The Fly: Pre-market Movers
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07:37 EDTSHPGShire intends to initiate buyback program after closing of Baxalta combination
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07:35 EDTSHPGShire proposes combination with Baxalta with implied value of $45.23 per share
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07:33 EDTSHPGShire proposes combination with Baxalta with implied value of $45.23 per share
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August 3, 2015
07:02 EDTSHPGShire acquires Foresight Biotherapeutics for $300M
Shire announced that it has acquired New York-based, privately held Foresight Biotherapeutics for $300M. With the acquisition, Shire acquires the global rights to FST-100, a therapy in late-stage development for the treatment of infectious conjunctivitis, an ocular surface condition commonly referred to as pink eye. If approved by regulatory agencies, FST-100 has the potential to become the first agent to treat both viral and bacterial conjunctivitis. Shire has acquired the global rights to FST-100 and will evaluate an appropriate regulatory filing strategy for additional markets outside the United States. Under the terms of the agreement, Shire will make a cash payment of $300M to complete the acquisition of Foresight Biotherapeutics.
06:46 EDTSHPGShire to buy Foresight for $300M, WSJ reports
Shire has agreed to purchase Foresight Biotherapeutics for $300M, the Wall Street Journal reports. The deal is set to be announced Monday, the report says. Reference Link
July 23, 2015
14:01 EDTSHPGShire receives 'positive opinion' on Intuniv from CHMP
Shire announced that the Committee for Medicinal Products for Human Use has adopted a positive opinion recommending the approval of the once-daily, non-stimulant Intuniv, or guanfacine hydrochloride extended release, for the treatment of attention deficit/hyperactivity disorder in children and adolescents. The positive opinion is based on results from three Phase 3 pivotal studies investigating the short- and long-term safety and efficacy of Intuniv in children and adolescents. The European Commission will now consider the CHMP positive opinion in its decision of whether to grant marketing authorisation for Intuniv in Europe, said Shire.
07:25 EDTSHPGShire raises FY15 EPADS growth view to mid-to-high single digit percentage
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07:22 EDTSHPGShire reports Q2 EPS $2.63, consensus $2.81
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