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Stock Market & Financial Investment News

News Breaks
January 4, 2013
18:23 EDTPFE, ENDPPfizer, Endo Pharmaceuticals to pay $18.17M each to Texas in Medicaid case
Texas Attorney General Greg Abbott announced that two civil Medicaid fraud settlements secured by the Attorney General’s Office will yield more than $36M for the state, and the settlement agreements announced resolve the state’s Medicaid fraud claims against Pfizer (PFE) and Endo Pharmaceuticals (ENDP). Under the agreements, the state will recover $18.17M each from Pfizer and Endo Pharmaceuticals. Reference Link
News For PFE;ENDP From The Last 14 Days
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September 17, 2014
07:15 EDTENDPEndo bid for Auxilium positive, says Wells Fargo
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07:14 EDTENDPAuxilium to 'carefully review' proposal from Endo for $28.10 per share
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07:12 EDTENDPQLT Inc. provides update on merger with Auxilium
QLT Inc. (QLTI) announces that it has been advised by Auxilium Pharmaceuticals (AUXL) that Auxilium has received an unsolicited offer from Endo International (ENDP) to acquire all of the issued and outstanding shares of Auxilium. Auxilium has further advised QLT that the board of Auxilium is reviewing the Endo Proposal, and has not withdrawn, modified, withheld, changed or qualified its recommendation with respect to the proposed merger with QLT pursuant to the Agreement and Plan of Merger among QLT, Auxilium, QLT Holding, and QLT Acquisition, dated June 25. The Merger Agreement continues in full force and effect. In accordance with the Merger Agreement, QLT has consented to the adoption by Auxilium of a stockholder rights plan in response to the Endo Proposal.
07:11 EDTENDPAnalysts say Auxilium QLT deal could be snarled by Endo bid, Reuters says
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07:04 EDTENDPAuxilium could be worth $34-$45/share in takeout, says Jefferies
Jefferies believes Auxilium (AUXL) could be worth more than the $28.10 per share offer by Endo (ENDP). The firm says it can get to valuations of $34-$45 per share for Auxilium under a takeout scenario. Jefferies thinks proposed acquisition cost "leaves considerable value on the table." It keeps a Buy rating on Auxilium with a $34 price target. In pre-open trading, Auxilium is trading well above Endo's offer price at $30.26 per share, up 41% or $8.74.
06:36 EDTENDPEndo volatility expected to move on Endo acquisition proposal
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06:25 EDTENDPAuxilium volatility expected to move on Endo acquisition proposal
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September 16, 2014
17:29 EDTENDPAuxilium up 42% following Endo acquisition proposal
16:48 EDTENDPEndo delivers proposal to acquire Auxilium for $28.10 per share in cash, stock
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16:48 EDTENDPEndo delivers proposal to acquire Auxilium for $2.2B in cash, stock
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11:51 EDTPFEOECD looks to close tax loopholes with new proposals
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07:19 EDTPFECompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
September 15, 2014
09:25 EDTPFEJPMorgan biotech analysts hold an analyst/industry conference call
Analysts assess Pfizer's M&A options on an Analyst/Industry conference call to be held on September 15 at 10 am.
07:27 EDTPFEIBC Life Sciences to hold a conference
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07:27 EDTPFEPfizer acquisition could drive shares higher, says JPMorgan
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September 14, 2014
13:32 EDTPFEPfizer shares look cheap, Barron's says
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September 12, 2014
10:32 EDTPFEPfizer CEO says company still open to inversion deal, FT says
Pfizer (PFE) CEO Ian Read said U.S. rhetoric against tax inversions has been "political theater" ahead of midterm elections and made clear that his company is still open to a potential tax-saving acquisition, according to Financial Times, which added Read's comment about not being “held hostage” over price would likely be read as a signal the company might look elsewhere after being rebuffed by AstraZeneca (AZN). The Fly notes that Bloomberg previously reported, citing people familiar with the matter, that Pfizer is looking at targets other than AstraZeneca, including Actavis (ACT). Shares of Actavis trading in New York are up 2% this morning. Reference Link
September 8, 2014
16:33 EDTENDPEndo reports TOPAS System improves fecal incontinence in women
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07:31 EDTENDPEndo announces launch of generic Fortesta gel
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07:15 EDTPFEIBC Life Sciences to hold a conference
10th Annual Cell Line Development & Engineering Conference to be held in Berkeley, California on September 8-10.
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