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Stock Market & Financial Investment News

News Breaks
March 25, 2014
07:53 EDTPRGO, MYL, VRX, ENDPPullback has created attractive pharma opportunities, says JPMorgan
JPMorgan believes nothing has fundamentally changed to warrant the recent pullback in the specialty pharmaceutical space and views the pullback as an attractive buying opportunity. JPMorgan named Endo Health (ENDP), Mylan (MYL), Perrigo (PRGO), and Valeant (VRX) as stocks on which it maintains Overweight ratings, citing their favorable positions given the wave of consolidation ongoing in the industry.
News For ENDP;MYL;PRGO;VRX From The Last 14 Days
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November 20, 2014
10:35 EDTVRXOptions with decreasing implied volatility
Options with decreasing implied volatility: DKS SPLS WB GMCR VRX HTZ WSM VIPS BBY AMAT
10:33 EDTPRGOHigh option volume stocks
High option volume stocks: KBR LM PRGO CHRW DG ZMH LGF ZTS OSIR REGI
08:36 EDTVRXZoetis guidance positive, says BMO Capital
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07:33 EDTENDPEndo launches generic version of Hoffmann-La Roche's Valcyte
Endo's Qualitest subsidiary has launched a generic version of Hoffmann-La Roche's Valcyte. For the 12 months ending September 30, Valcyte had total U.S. sales of approximately $440M, according to IMS Health data.
06:56 EDTPRGOPerrigo files to sell $900M in ordinary shares
Perrigo intends to use the net proceeds of the offering, together with the proceeds of other financing sources, to fund the cash consideration for its proposed acquisition of Omega Pharma Invest NV and to repay or refinance certain indebtedness of Perrigo and/or Omega. If the Acquisition is not consummated, then the net proceeds of the offering will be used for general corporate purposes. J.P. Morgan, Barclays and BofA Merrill Lynch are the joint book-running managers in the offering.
06:56 EDTPRGOPerrigo files automatic mixed securities shelf
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November 19, 2014
17:03 EDTVRXValeant request withdrawal of registration, proxy statements
The company’s request is based on its termination of the exchange offer to which the Registration Statement, File No. 333-196856, relates on November 19, 2014. Valeant also requests the immediate withdrawal of the Preliminary Proxy Statement on Schedule 14A, File No. 001-14956, filed with the Commission on June 24, as amended on July 22, August 22, and September 22. In light of the fact that Valeant is withdrawing the Registration Statement, it no longer believes it is desirable to pursue the matters referred to in the Proxy Statement.
10:21 EDTENDPHigh option volume stocks
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10:14 EDTMYLMylan November calls active on takeover speculation
Mylan November 55 & 57.5 calls are active on total call volume of 7,100 contracts (200 puts) on takeover speculation. November call option implied volatility is at 36, December is at 34; compared to its 26-week average of 32 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
09:51 EDTMYLRumor: Mylan strength attributed to takeover speculation
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07:52 EDTVRXInforma Business Information to hold a conference
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07:33 EDTENDPEndo, Auxilium receive early termination of HSR waiting period for deal
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November 18, 2014
13:34 EDTVRXActavis rallies after analysts push targets north of $300
Shares of drug maker Actavis (ACT) are climbing after a number of analysts cheered the company's acquisition of Allergan (AGN), and activist investor Bill Ackman said he supported the transaction, according to CNBC. WHAT'S NEW: Piper Jaffray analyst David Amsellem responded to Actavis' acquisition of Allergan by hiking his price target on the name to $338 from $280. The combined company has durable assets, a cost-efficient infrastructure, and the willingness to maintain a strong R&D infrastructure, contended Amsellem. Actavis' price-to-earnings ratio is likely to increase, since it has durable assets, while it his very likely to sustain growth of at least 10%, the analyst added. He kept an Overweight rating on the shares. Also extremely upbeat on Actavis following the deal was UBS analyst Marc Goodman. Actavis provides "the best value in the sector" following the deal, as the transaction should accelerate the company's revenue and profit growth, Goodman believes. That growth, in turn, should propel Actavis' price-to-earnings multiple higher, the analyst predicted. He hiked his price target on Actavis to $333 from $278 and kept a Buy rating on the stock. Meanwhile, Pershing Square's Bill Ackman said that he supported Actavis' takeover of Allergan, CNBC reported this morning. The owner of a large stake in Allergan, Ackman had been trying to get the drug maker to sell itself to Valeant (VRX). The activist investor said today that he would no longer push Allergan to hold a special meeting on December 18, CNBC noted. PRICE ACTION: In mid-afternoon trading, Actavis surged 7.5% to $266.50, while Allergan gained 2% to $214.
08:02 EDTVRXValeant announces FDA, Health Canada approval to market Ideal Implant
Valeant Pharmaceuticals and Ideal Implant Incorporated announced the receipt of approval from the U.S. Food and Drug Administration and Health Canada to market the IDEAL IMPLANT Saline-filled Breast Implant for use in primary breast augmentation or replacement of existing augmentation implants. The FDA approval of the IDEAL IMPLANT was based on an extensive review of various studies and data including a U.S. clinical trial that began in 2009 with 45 plastic surgeons and 502 women, who underwent breast augmentation or replacement of augmentation implants. The clinical trial is on-going and will continue to provide follow-up data through 2020.
07:48 EDTVRXValeant not likely to raise bid for Allergan, says Canaccord
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06:49 EDTVRXValeant likely to pursue more moderate-sized deals, says Piper Jaffray
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November 17, 2014
09:32 EDTVRXValeant says cannot justify paying $219 per share for Allergan
Valeant Pharmaceuticals (VRX) commented on the announcement that Allergan (AGN) and Actavis (ACT) have entered into a definitive agreement under which Actavis will acquire all outstanding shares of Allergan stock: "We have seen the announcement that Allergan and Actavis have made, and while we will review any such agreement in determining our course of action, Valeant cannot justify to its own shareholders paying a price of $219 or more per share for Allergan. Our business is performing extremely well as evidenced by our third quarter results, our expected strong fourth quarter, and our robust outlook for 2015, and I am confident in our continued ability to generate exceptional shareholder value. We will remain focused on delivering strong organic results and evaluating acquisition opportunities as we always have: prudently, in a disciplined manner, and in the best interests of our shareholders."
06:05 EDTVRXActavis close to buying Allergan for over $64B, Bloomberg reports
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November 16, 2014
14:02 EDTVRXAllergan, Actavis move closer to deal, WSJ reports
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November 14, 2014
09:38 EDTVRX, ENDPJANA Partners gives quarterly update on stakes
NEW STAKES: AMD (AMD), AECOM Technology (ACM), Alibaba (BABA), McDonald's (MCD), Amgen (AMGN), Gaming and Leisure Properties (GLPI), Iron Mountain (IRM), iRobot (IRBT), Seadrill Partners (SDLP), Valeant (VRX). INCREASED STAKES: eBay (EBAY), Charter (CHTR), Groupon (GRPN), HD Supply (HDS), Hertz (HTZ). DECREASED STAKES: Apache (APA). LIQUIDATED STAKES: CBS (CBS), Endo (ENDP), FMC Corporation (FMC), SeaWorld (SEAS), SunEdison (SUNE).
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