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Stock Market & Financial Investment News

News Breaks
January 29, 2013
16:31 EDTDEPODepomed files patent infringement suit against Purdue Pharma
Depomed disclosed in a regulatory filing that on January 29, Depomed filed a complaint in the United States District Court for the District of New Jersey against Purdue Pharma and affiliated companies for infringement of U.S. Patent Nos. 6,340,475; 6,635,280; and 6,723,340. The complaint alleges infringement of the Depomed patents arising from Purdue’s commercialization of OxyContin in the United States. The Depomed patents relate to Depomed’s Acuform drug delivery technology. U.S. Patent Nos. 6,340,475 and 6,635,280 will expire in 2016, and U.S. Patent No. 6,723,340 will expire in 2021.
News For DEPO From The Last 14 Days
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July 30, 2015
10:00 EDTDEPOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Altria Group (MO) downgraded to Outperform from Buy at CLSA... Baxter (BAX) downgraded to Market Perform from Outperform at Leerink... Changyou.com (CYOU) downgraded to Hold from Buy at Summit Research... Depomed (DEPO) downgraded to Neutral from Buy at Janney Capital... Euronet (EEFT) downgraded to Neutral from Buy at Monness Crespi... Foundation Medicine (FMI) downgraded to Market Perform at JMP Securities... Garmin (GRMN) downgraded to Underweight from Neutral at JPMorgan... Golden Star Resources (GSS) downgraded to Hold at Canaccord... Grainger (GWW) downgraded on negative catalysts at RBC Capital... Henry Schein (HSIC) downgraded to Hold from Buy at Evercore ISI... LINN Energy (LINE) downgraded to Market Perform from Outperform at Raymond James... LifeLock (LOCK) downgraded to Neutral from Buy at BofA/Merrill... LinnCo (LNCO) downgraded to Market Perform from Outperform at Raymond James... Manitowoc (MTW) downgraded to Hold from Buy at BB&T... PACCAR (PCAR) downgraded to Equal Weight on peak cycle concerns at Morgan Stanley... PG&E (PCG) downgraded to Neutral from Outperform at Credit Suisse... Pacer (PACR) downgraded to Equal Weight from Overweight at Morgan Stanley... Penn Virginia (PVA) downgraded to Sector Perform from Outperform at Scotia... Shutterfly (SFLY) downgraded to Market Perform at Raymond James... Terex (TEX) downgraded to Hold from Buy at BB&T... Total System (TSS) downgraded to Neutral at Baird... Whiting Petroleum (WLL) downgraded to Equal Weight from Overweight at Stephens... Whole Foods (WFM) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:19 EDTDEPODepomed downgraded to Neutral from Buy at Janney Capital
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06:32 EDTDEPODepomed downgraded to Sector Perform from Outperform at RBC Capital
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July 29, 2015
16:18 EDTDEPODepomed raises FY15 product sales view to $320M-$340M
Prior product sales guidance $310M-$335M. FY15 revenue consensus $327.33M. Raises FY15 adjusted earnings view to $40M-$50M from $16M-$28M. CEO Jim Schoeneck said, "Growth in the second quarter was led by our flagship product NUCYNTA, which had a strong performance in the first quarter of the company distributing the product. We believe that NUCYNTA has blockbuster potential – an even bigger opportunity than we originally anticipated – and we've just relaunched NUCYNTA with our new product positioning and expanded commercial efforts that we initiated in mid-June. We also see future growth opportunity for Gralise, Cambia and Lazanda including increases in unit demand and market share plus product line extensions. Depomed is now in a period of accelerated growth, one that we see extending well into the future."
16:16 EDTDEPODepomed reports Q2 adjusted EPS 27c, consensus 0c
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16:07 EDTDEPODepomed board rejects acquisition proposal from Horizon Pharma
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16:05 EDTDEPODepomed board rejects takeover proposal from Horizon Pharma
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July 24, 2015
11:09 EDTDEPOWallachBeth does not see Horizon facing competing suitor for Depomed
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July 21, 2015
11:28 EDTDEPODepomed says revised Horizon proposal includes no change to amount of stock
Depomed (DEPO) confirmed that it has received a "purported revised, highly conditional, unsolicited and non-binding" proposal from Horizon Pharma (HZNP) to acquire all of the outstanding shares of Depomed in an all-stock transaction currently valued at $33.00 per share. Depomed said its board, in consultation with its independent financial and legal advisors, will carefully review and evaluate the revised proposal to determine the course of action that it believes is in the best interests of the company and its shareholders. Depomed added: "Today's purported increase does not reflect any increase in the amount of Horizon stock that the Depomed shareholders would receive, nor any increase in the pro-forma ownership for the Depomed shareholders, and is the result of the trading value of Horizon's stock having increased since it made its initial offer." Depomed previously rejected the prior proposal, made May 27, to acquire all outstanding common shares of Depomed in an all-stock transaction then valued at $29.25 per share.
10:14 EDTDEPOHigh option volume stocks:
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07:02 EDTDEPOHorizon Pharma increases offer for Depomed to $33.00 per share
Horizon Pharma (HZNP) announced that it has increased the value of its all-stock acquisition proposal to $33.00 per share from $29.25 per share, contingent on Depomed entering into good faith discussions regarding a transaction. The increased offer represents a 60% premium to the closing price of Depomed on July 6, the day prior to when Horizon's initial proposal was made public.
07:01 EDTDEPOHorizon Pharma increases offer for Depomed to $33.00 per share
July 20, 2015
10:33 EDTDEPODepomed suitor Horizon Pharma advances after raising outlook
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09:50 EDTDEPOHorizon Pharma CEO says 'here to stick it out' regarding Depomed deal
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09:50 EDTDEPOHorizon Pharma CEO says Depomed proposal 'shareholder friendly'
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