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Stock Market & Financial Investment News

News Breaks
February 19, 2014
07:35 EDTENDPEndo Health reports 2013 non-cash charges of $495M
Endo Health Solutions has completed its annual goodwill and in-process research and development impairment analysis for 2013 and plans to record in fiscal 2013, a pre-tax, non-cash asset impairment charge of approximately $495M primarily related to goodwill attributable to the company's acquisition of American Medical Systems. During Q4 2013, the company also recorded a pre-tax, non-cash charge of approximately $31M to increase the company's product liability reserve to approximately $520M for all known, pending and estimated future claims primarily related to vaginal mesh cases. The non-cash charges will not affect the company's 2013 adjusted financial results; however, 2013 GAAP earnings per share are now expected to be materially below previously announced guidance of 95c-$1.10.
News For ENDP From The Last 14 Days
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March 26, 2015
07:30 EDTENDPDeutsche Bank to hold a conference
Pharma One-on-One Day is being held in Denver, Colorado on March 26.
March 25, 2015
12:58 EDTENDPPershing Square raises stake in Valeant, says will discuss acquisitions
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07:12 EDTENDPAmerican Academy of Orthopedic Surgeons to hold annual meeting
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March 20, 2015
16:33 EDTENDPStocks end week higher after market reads Fed statement as dovish
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15:31 EDTENDPEndo management to meet with Sterne Agee
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March 16, 2015
16:28 EDTENDPOn The Fly: Closing Wrap
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12:43 EDTENDPOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after stimulus talk out of China and a rally in European stock markets lifted the U.S. market at the open. There was little reaction to the day’s domestic economic reports, which included the Empire manufacturing index, industrial production data, and a homebuilder confidence index. The week's big economic news, however, is yet to come, as investors look forward to the conclusion of the Federal Reserve's latest rate setting meeting on Wednesday. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index dipped to 6.9 in March, versus the consensus forecast for a reading of 8.0. Industrial production edged up 0.1% in February, versus expectations for an increase of 0.2%, and capacity utilization fell to 78.9%, versus the 79.5% consensus forecast. The NAHB homebuilder sentiment index dropped to 53 in March from 55 in February, missing expectation for the index to rise to 56. Oil prices continued to tumble, with U.S. crude dropping to a six-year low below $44 per barrel earlier in the session. In Asia, Chinese Premier Li Keqiang said Sunday that his government has room and the tools to take action should growth falter, without detailing specific remedies the government might pursue. COMPANY NEWS: Valeant (VRX), which not long ago lost out to Actavis (ACT) in the race to buy Allergan (AGN), increased its chances of making sure its latest buyout deal gets done by increasing its takeover offer to Salix Pharmaceuticals (SLXP) by about $1B. Rival bidder Endo Health (ENDP) confirmed that it is withdrawing its cash and stock proposal to acquire Salix after Valeant raised its all-cash bid for Salix to $173 per share from $158 per share. Shares of Valeant and Salix both rose about 2%, while Endo shares gained 2.5% following the announcements. MAJOR MOVERS: Among the notable gainers was Life Time Fitness (LTM), which rose 5% after entering into a definitive agreement to be acquired by private equity firms Leonard Green & Partners and TPG in a transaction valued at more than $4B, or $72.10 per share, in cash. Also higher was Edwards Lifesciences (EW), which rose 8% after the company reported data at this weekend's American College of Cardiology conference. Among the noteworthy losers was iDreamSky (DSKY), which dropped more than 25% after the company lowered its guidance because the launch of a popular casual game was delayed on one of the company distribution platforms and the monetization of another popular casual game was less than expected. Also lower were shares of Enzo Biochem (ENZ), which fell 17% after an appeals court reversed-in-part and vacated-in-part the judgment in Enzo’s favor that Life Technologies' (LIFE) Applera Corp. infringed certain Enzo patents. INDEXES: Near midday, the Dow was up 174.81, or 0.98%, to 17,924.12, the Nasdaq was up 39.80, or 0.82%, to 4,911.55, and the S&P 500 was up 20.07, or 0.98%, to 2,073.47.
10:58 EDTENDPValeant price hike likely ends Salix saga, says UBS
UBS believes the race for Salix (SLXP) is likely over now that Valeant (VRX) has increased its offer price, as expected. The firm said it will still like both Valeant (VRX) and Endo (ENDP) if this is how things end, as it believes the deal is still a very good one for Valeant despite the higher price and it expects Endo to find another deal that should be accretive. UBS has Buy ratings on both Valeant and Endo Health.
10:18 EDTENDPValeant should win Salix with increased offer, says Cantor
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09:24 EDTENDPEndo withdraws proposal for Salix
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08:17 EDTENDPValeant rises 1% after sweetening Salix takeover offer
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08:06 EDTENDPValeant ses Salix deal closing on April 1
08:05 EDTENDPValeant raises offer price for Salix to $173 per share from $158
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07:50 EDTENDPValeant to raise offer for Salix to $173 per share, DJ reports
Dow Jones cites sources.
07:31 EDTENDPEndo announces launch of Natesto
Endo Pharmaceuticals, a subsidiary of Endo, announced the commercial availability of NATESTO, the first and only nasal gel for testosterone replacement therapy in adult males diagnosed with hypogonadism. NATESTO was approved by the FDA in May 2014 for replacement therapy in adult men with conditions associated with deficiency or absence of endogenous testosterone, including primary hypogonadism or hypogonadotropic hypogonadism. NATESTO™ reduces the risk of transference via intranasal application.
March 13, 2015
13:46 EDTENDPValeant to raise Salix bid above $160 per share after Endo entry, NYT says
In response to Endo (ENDP) making a rival bid for Salix (SLXP), Valeant Pharmaceuticals (VRX) now plans to team up with Bill Ackman's Pershing Square and other top shareholders to raises its bid for Salix to above $160 per share, all in cash, according to The New York Times, citing people briefed on the matter. The exact price of Valeant’s raised offer was not yet known, the report stated. Salix shares are down about 1% to $168.88 in afternoon trading. Reference Link
13:43 EDTENDPValeant seen hiking Salix bid above $160 per share cash, NYT says
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10:51 EDTENDPOptions with increasing implied volatility
Options with increasing implied volatility: PVA BBEP SLXP ENDP MYL BBBY TEVA ZTS
08:14 EDTENDPAckman says does not view Endo bid for Salix as credible
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08:13 EDTENDPAckman says Endo would be very highly levered with Salix deal
Bill Ackman of Pershing Square is speaking on CNBC.

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