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Stock Market & Financial Investment News

News Breaks
August 8, 2014
14:54 EDTDEPO, PDLIPDL BioPharma says concluding talks with SEC on Depomed deal accounting
PDL BioPharma (PDLI) disclosed in a regulatory filing that the company is currently concluding discussions with the SEC staff after receiving a comment letter to the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013, that requested additional information about the company’s accounting for the royalty purchase and sale agreement with Depomed (DEPO). "The Company’s responses to those comments may affect the narrative disclosures and financial statements included in the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2014. All of the comments cannot be resolved by the prescribed due date for the Current Quarterly Report without unreasonable effort or expense," PDL stated. The company intends to file its current quarterly report by not later than Monday, August 18, PDL added.
News For PDLI;DEPO From The Last 14 Days
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January 20, 2015
09:18 EDTDEPOJohnson & Johnson CEO says core businesses 'strong'
Johnson & Johnson (JNJ) providing sustainable, high quality healthcare "one of society's greatest challenges." Says core businesses "strong," positioned to continue expanding their leadership positions. CEO Alex Gorsky says company is changing the way it interacts with customers, evolving to be more "effective," "efficient." Says U.S. OTC consent decree requirements completed. Says in the process of developing a China lung center. Says still plans to take $1B out of P&L in next three years. Says aims to bring Ebola vaccine to market "as fast as possible." Says "well-positioned" for long-term. Says currency headwinds have increased "quite substantially," negatively impacting sales, earnings to greater extent than company had anticipated. Sees Depomed (DEPO) transaction closing in Q2. Expects R&D tax credit will be renewed in 2015. If R&D tax credit is approved, sees effective tax rate for 2015 of approx. 20%-21%. Sees operational sales growth for 2015 approx. 6%. Says Wall Street forecasts may not adequately reflect likely negative impact in 2015 of foreign exchange. Sees FY15 operational sales growth 1%-2% in constant currency. Comments made on the Q4 earnings conference call.

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