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Check below for free stories on NVO;VPHM;INFI;MRK;AGN;SHPG;SGEN;OREX;AMGN;SNY;JNJ;PFE the last two weeks.
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April 22, 2014
11:02 EDTAGNAllergan confirms receipt of Valeant offer, says will review and consider
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10:00 EDTSHPG, AGNOn The Fly: Analyst Initiation Summary
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10:00 EDTAGNAllergan rises 15.5%
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09:16 EDTAGNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Netflix (NFLX), up 8%... Harley-Davidson (HOG), up 7%... PLX Technology (PLXT), up 8%... Illinois Tool (ITW), up 2.3%... Comcast (CMCSA), up 1%... McDonald's (MCD), up 0.6%. ALSO HIGHER: Allergan (AGN), up 17% after Valeant (VRX) confirms proposal to combine with the company for $48.30 and 0.83 shares of stock. Valeant is up 5% following its confirmation of the news that broke last night... GlaxoSmithKline (GSK), up 4.5% after agreeing to sell oncology products for $14.5B to Novartis (NVS) and buy Novartis' Vaccines business, currently excluding its flu business, for $7.1B plus royalties. Novartis shares trading in New York are also up 1% following the deals... Revance Therapeutics (RVNC), up 20% after announcing positive results from RT002 Phase 1/2 study... Facebook (FB), up 2% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Xerox (XRX), down 4%... Lexmark (LXK), down 4.8%. ALSO LOWER: Allison Transmission (ALSN), down 4% after filing to sell 25M shares for holders... FireEye (FEYE), down 2.9% after filing to sell 13.3M shares of common stock for holders... Bebe stores (BEBE), down 16% after reporting preliminary Q3 losses that were steeper than the consensus estimate.
09:00 EDTAGNAllergan rises 17.1%
Allergan is up 17.1%, or $24.30, to $166.30
08:08 EDTPFEAstraZeneca Pfizer deal is doable, says Bernstein
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08:03 EDTPFEPfizer says OPT Pivotal #1 and #2 programs meet primary endpoints in study
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07:51 EDTAGN, SHPGAllergan could fend off Valeant with acquisition, says Jefferies
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07:43 EDTSHPGShire initiated with a Buy at Jefferies
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07:42 EDTAGNAllergan initiated with a Hold at Jefferies
Target $139.
07:33 EDTAGNValeant proposes to combine with Allergan for $48.30 and 0.83 shares of stock
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07:32 EDTAGNValeant proposes to combine with Allergan for $48.30 and 0.83 shares of stock
07:16 EDTPFEAstraZeneca cancer pipeline viewed as possible draw for Pfizer, Reuters says
Pfizer (PFE) could come back to make an offer to AstraZeneca (AZN) after its reported $101B takeover approach was declined, since an agreement could benefit the U.S. pharmaceutical company as it aims to improve its cancer pipeline, reported Reuters. Reference Link
07:08 EDTAGNAllergan price target raised to $190 from $140 at Credit Suisse
Credit Suisse raised Allergan's (AGN) price target to $190 from $140 based on what it expects a successful offer price by Pershing Square and Valeant (VRX) will have to be in order to complete the deal. Shares of Allergan are Outperform rated.
06:53 EDTAGNValeant Pharmaceuticals volatility expected to move on bid for Allergan
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06:51 EDTAGNAllergan fits Valeant criteria, says Cantor
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06:46 EDTAGNAllergan option volume active into Bill Ackman and Valeant Pharmaceuticals bid
Allergan (AGN) option volume of 22K contracts on April 21 was the heaviest volume day in four-months into Bill Ackman and Valeant Pharmaceuticals (VRX) teaming up to make a bid for Allergan. Overall option volatility of 30 is near its 26-week average of 29 according to Track Data. Active volume suggests traders taking positions for large price movement.
06:19 EDTAGNValeant bid for Allergan has 'significant hurdles,' says BMO Capital
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06:11 EDTMRK, JNJ, AGNWells says big pharma bidders could emerge for Allergan
Wells Fargo believes Allergan (AGN) wants to remain independent and says the "hurdle to convince the company to sell could be pretty high." Wells thinks Valeant's (VRX) low tax rate gives it room to raise its bid for Allergan, and it sees the potential for one or more big pharma bidders, such as Johnson & Johnson (JNJ) or Merck (MRK), emerging due to Allergan's "attractive eye care and aesthetics portfolio and pipeline." Wells believes a purchase price for Allergan of $50B or $165 per share could be justified.
05:27 EDTPFEAstraZeneca upgraded to Buy from Neutral at Citigroup
Citigroup upgraded AstraZeneca (AZN) to Buy calling a takeover by Pfizer (PFE) a "high probability event." Citi believes AstraZeneca's oncology pipeline is undervalued at current share levels.
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