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Stock Market & Financial Investment News

News Breaks
June 11, 2014
11:51 EDTMYL, ACTMylan launches generic actonel tablets, 150 mg
Mylan (MYL) announced that it has launched Risedronate Sodium Tablets USP, 150 mg, the generic version of Warner Chilcott's (ACT) Actonel Tablets. Mylan received final approval from the U.S. Food and Drug Administration for its Abbreviated New Drug Application for this product, which is indicated for the treatment and prevention of osteoporosis in postmenopausal women. Risedronate Sodium Tablets USP, 150 mg, had U.S. sales of approximately $171.6M for the 12 months ending March 31, according to IMS Health.
News For MYL;ACT From The Last 14 Days
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February 11, 2016
11:34 EDTMYLStocks with call strike movement; NFLX MYL
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09:21 EDTMYLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Expedia (EXPE), up 8.4%... Tripadvisor (TRIP), up 10.8%... Cisco (CSCO), up 6%... LendingClub (LC), up 8.8%... Tesla (TSLA), up 3.5%... Shire (SHPG), up 3.1%. ALSO HIGHER: 3D Systems (DDD), up 13.4% after reporting preliminary Q4 revenue. DOWN AFTER EARNINGS: Flowers Foods (FLO), down 17.7%... Incyte (INCY), down 14.3%... LivePerson (LPSN), down 16.7%... Twitter (TWTR), down 5.5%... Mylan (MYL), down 12.5%... PepsiCo (PEP), down marginally. ALSO LOWER: Visa (V), down 3% after being downgraded to Neutral from Buy at BofA/Merrill... Mastercard (MA), down 3% after being downgraded to Neutral from Buy at BofA/Merrill.
07:47 EDTMYLMylan acquisition has strategic merit, says JPMorgan
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07:23 EDTMYLMylan CEO says didn't want to leave U.S., would love to come back if taxes fixed
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07:21 EDTMYLMylan CEO says 'absolutely' would be seller if deal made for stronger company
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06:48 EDTMYLCiti struggling with high price Mylan paid for Meda
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05:44 EDTMYLOptions expected to be active
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February 10, 2016
19:33 EDTMYLOn The Fly: After Hours Movers
UP AFTER EARNINGS: HubSpot (HUBS), up 12%... CSRA (CSRA), up 12%... Expedia (EXPE), up 11.5%... Tesla (TSLA), up 9.6%... Hortonworks (HDP), up 8.6%... Skechers (SKX), up 8.8%... Cisco Systems (CSCO), up 7.3%... Centurylink (CTL), up 8.4%... O'Reilly Automotive (ORLY), up 5.2%... Kinross Gold (KGC), up 3.7%... Whole Foods Market (WFM), up 2.5%. ALSO HIGHER: Tripadvisor (TRIP) is up 7.1% and Priceline (PCLN) is up 4.5% after Expedia reported its quarterly results. DOWN AFTER EARNINGS: Pilgrim's Pride (PPC), down 10.9%... Cornerstone OnDemand (CSOD), down 3.6%... Mylan (MYL), down 9.4% after reporting quarterly results and announcing that it will acquire Meda Aktiebolag for $9.9B... Zynga (ZNGA), down 8.9%... iRobot (IRBT), down 6.4%... Prudential (PRU), down 1%... Twitter (TWTR), down 3%... Pioneer Natural (PXD), down 2.4%. ALSO LOWER: Franco-Nevada (FNV), down 4.9% after 11.5M share Spot Secondary priced at $47.85... Continental Resources (CLR), down 2.4% after reporting proved reserves of 1.23B Boe at Dec. 31, 2015.
18:42 EDTMYLMeda board unanimously recommends shareholders accept Mylan offer
The Board of Directors of Meda unanimously recommends that the shareholders of Meda accept the offer made by Mylan (MYL). The Board's opinion of the Offer is based on an assessment of a number of factors that the Board has considered relevant in relation to the evaluation of the Offer. These factors include, but are not limited to, Meda's present position, the expected future development of the Company and thereto related possibilities and risks. In the Board's opinion, Meda has a well-defined and viable strategy going forward, notably in relation to further organic growth of the Dymista franchise both in Europe and the US, a strong and growing presence in emerging markets and further margin expansion following the integration of the Rottapharm business. However, the Board views a combination of Meda and Mylan as positive and believes it to be strategically merited in a rapidly consolidating market, and the share consideration will further enable the Company's shareholders to benefit from the combined accelerated growth story and combination benefits. Furthermore, these benefits enable Meda to address certain risks associated with the Company's current prospects. These risks include those associated with Meda's scale in the US market, which is not at critical mass, macroeconomic issues in selected economies and the inorganic growth of Meda.
16:17 EDTMYLMylan sees 2016 adjusted EPS $4.85-$5.15, consensus $4.97
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16:16 EDTMYLMylan reports Q4 EPS adjusted EPS $1.22, consensus $1.27
Reports Q4 adjusted revenue $2.49B, consensus $2.70B.
16:09 EDTMYLMylan acquires Meda Aktiebolag for $9.9B
Mylan announced a recommended public offer to the shareholders of Meda Aktiebolag to tender all their shares in Meda to Mylan. The total offer consideration consists of a combination of cash and Mylan ordinary shares with a value at announcement of SEK 165 per Meda share. The total value of the offer for all Meda shares, including Meda net debt, is approximately $9.9B which represents a multiple of approximately 8.9x 2015 adjusted EBITDA with synergies. The company said, "The combination of Mylan and Meda will create a diversified global pharmaceutical leader with an expansive portfolio of branded and generic medicines and a strong and growing portfolio of over-the-counter (OTC) products. The combined company will have a balanced global footprint with significant scale in key geographic markets, particularly the U.S. and Europe. The acquisition of Meda also provides Mylan with entry into a number of new and attractive emerging markets, including China, Southeast Asia, Russia, the Middle East and Mexico, complemented by Mylan's presence in India, Brazil and Africa." The offer has been unanimously approved by Mylan's board of directors and unanimously recommended by Meda's board of directors. Meda's two largest shareholders, representing in the aggregate approximately 30% of Meda's outstanding shares, have undertaken to accept the offer, subject to certain conditions. Meda's shares are listed on Nasdaq Stockholm, Large Cap. The offer is not subject to approval by Mylan shareholders and is not subject to any financing conditions. The transaction is expected to be immediately accretive to Mylan earnings, with accretion increasing significantly after the first full year as synergies are realized. The transaction creates an opportunity to achieve 35c-40c accretion in 2017 and to accelerate achievement of Mylan's previously stated $6.00 in adjusted diluted EPS target in 2017 versus 2018.
15:46 EDTMYLMylan to announce acquisition of Meda, FT says
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14:32 EDTMYLNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Cisco (CSCO), consensus 54c... Tesla (TSLA), consensus 8c... Twitter (TWTR), consensus 12c... Whole Foods (WFM), consensus 40c... Mylan (MYL), consensus $1.27... Expedia (EXPE), consensus $1.00... Prudential Financial (PRU), consensus $2.30... O'Reilly Automotive (ORLY), consensus $2.08... Pioneer Natural Resources (PXD), consensus (30c)... Skechers (SKX), consensus 20c... Zynga (ZNGA), consensus 0c.
13:19 EDTMYLMylan volatility elevated into Q4 and outlook
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08:12 EDTMYLTheravance achieves 50% enrollment in three Phase 3 studies of COPD treatment
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08:10 EDTMYLMomenta announces early HSR clearance for biosimilars collaboration with Mylan
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February 9, 2016
13:26 EDTMYLMylan volatility elevated into Q4 and outlook
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February 3, 2016
06:13 EDTMYLPfizer insists Allergan deal won't be thwarted by U.S. politicians, FT says
Pfizer (PFE) has insisted that its $160B acquisition of Allergan (AGN) will not be stifled by political opposition, amid criticism that the deal will cost the U.S. Treasury billions of dollars in future tax revenues, the Financial Times reports. Pfizer CEO Ian Read also reiterated his intention to postpone until 2018 a decision on whether to break of the combined entity into two or three smaller companies, but has said that he would be open to offers for its generics unit, the report says. Mylan (MYL) has been connected to a potential acquisition of Pfizer's generic drugs business after it failed in its attempt to buy Perrigo (PRGO) last year, the report says. Reference Link
February 1, 2016
08:04 EDTMYLTeva Mylan not seeing same negative trends as Sandoz, says Bernstein
After Novartis (NVS) reported weak results for its generics unit, Sandoz, and blamed it on industry trends, Bernstein quotes Mylan (MYL) and Teva (TEVA) as saying that they are seeing only "slight adjustments back to normal levels" from "mildly favorable" results in 2014 and 2015. Bernstein says that Sandoz has lost a number of fairly profitable products and has had fewer approvals than its peers. Bernstein keeps Outperform ratings on Teva and Mylan.
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