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Stock Market & Financial Investment News

News For NVO;VPHM;INFI;MRK;AGN;SHPG;SGEN;OREX;AMGN;SNY;JNJ;PFE From The Last 14 Days
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October 28, 2014
10:23 EDTPFEPfizer says still looking at deals based on strategic fit
Pfizer (PFE) said during its earnings conference call that uncertainty around future tax actions remain a concern, but that the company is still looking for M&A opportunities. Pfizer says proposed rule changes have made "inversions" more difficult, but that meaningful value from inversion deals can still exists on a "case-by-case" basis. Shares of AstraZeneca (AZN), which was previously a target of Pfizer, are up 1.3% to $71.69 as Pfizer's earnings conference call continues.
09:37 EDTMRKActive equity options trading
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09:20 EDTAMGN, SNYOn The Fly: Pre-market Movers
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09:09 EDTAMGNAmgen sees adjusted operating margin increasing to 52-54% by 2018
09:08 EDTAMGNAmgen sees portfolio doubling over the next three years
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09:05 EDTAMGNAmgen updates program pipeline
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09:03 EDTAMGNAmgen plans to repurchase $2B in shares through 2015
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09:02 EDTAMGNAmgen plans to increase dividend 30% in 1Q15
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09:01 EDTAMGNAmgen plans to payout 60% of adjusted net income to shareholders through 2018
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08:59 EDTAMGNAmgen sees restructuring generating up to $1.5B in savings by 2018
Amgen stated that its company-wide re-engineering process initiated in 2013 includes an approximate 23% decrease in facilities footprint and an approximate 20% reduction in staff by the end of 2015. Next steps include plans to reduce headcount by an additional 600-1,100 positions in 2015. The additional actions will result in pre-tax accounting charges of $100M-$150M expected to be incurred primarily in 2015. The total restructuring pre-tax GAAP charges of $935M-$1,035M will be incurred in 2014 and 2015, with $376M already incurred in Q3. As a result, the company expects to generate up to $1.5B in annual savings and a 15 point adjusted operating margin increase by 2018.
08:53 EDTAMGNAmgen sees 2015 adjusted EPS $9.05-$9.40, consensus $9.00
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07:35 EDTPFEDURECT price target liowered to $1.50 from $2.50 at Stifel
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07:27 EDTMRKFDA PDUFA Date for Merck's MK-3475 is October 28, 2014
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07:21 EDTJNJCBI to hold a conference
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07:17 EDTAGNAllergan underlying business stronger than expected, says UBS
UBS noted Allergan's (AGN) strong Q3 results and said they show its underlying business is even stronger than expected. The firm feels Allergan no longer needs to pursue a deal either on its own or with Valeant (VRX) and believes the shares are undervalued and its intrinsic value is much higher. UBS raised its price target on Allergan to $206 from $200 and reiterated its Buy rating on the stock.
07:16 EDTMRKInvestors overlooking Merck positive points, says SunTrust
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07:06 EDTPFEPfizer reports Q3 GEP sales down 6% operationally, GIP sales down 4%
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07:05 EDTPFEPfizer narrows FY14 adjused EPS view to $2.23-$2.27 from $2.20-$2.30
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07:01 EDTPFEPfizer reports Q3 adjusted EPS 57c, consensus 55c
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05:40 EDTSNYSanofi reports Q3 business EPS EUR 1.47 vs. EUR 1.36 last year
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