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Stock Market & Financial Investment News

News Breaks
March 12, 2014
06:08 EDTPMCPharMerica upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded PharMerica citing improving fundamentals, capital deployment opportunities, and valuation. Price target raised to $30 from $19.
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September 11, 2014
05:31 EDTPMCPharMerica initiated with a Neutral at Goldman
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September 10, 2014
08:56 EDTPMCPharMerica announces commercial litigation vs. AmerisourceBergen
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08:53 EDTPMCPharMerica raises FY14 adjusted EBITDA view to $123.2M-$126M
The company's previous adjusted EBITDA view was $121M-$123.5M. PharMerica’s decision to raise its FY14 guidance reflects positive momentum across the business, as well as the completed acquisition of three institutional pharmacies in Texas. Although financial terms of the transaction were not disclosed, PharMerica expects the acquisition to generate approximately $60M of annualized revenue and be immediately accretive to earnings in FY14. With this acquisition, PharMerica will have achieved its goal of completing acquisitions that generate at least $100M of annualized sales, in the aggregate, in FY14. PharMerica will again target acquisitions that generate at least $100M of annualized sales, in the aggregate, in 2015. The company noted that its FY14 guidance did not previously include the effect of FY14 acquisitions. PharMerica’s revised FY14 guidance now reflects the company’s acquisitions in FY14, which, in the aggregate, generate approximately $100M of annualized sales. The company said, "We remain focused on continuing this momentum, pursuing additional external growth opportunities, and delivering on our FY15 objectives. We believe that our strong foundation and focus on operational excellence, together with the significant potential upside from acquisitions, positions PharMerica to succeed and create meaningful long-term value for shareholders.”
08:47 EDTPMCPharMerica ups FY14 adjusted EPS view to $1.58-$1.62 from $1.47-$1.52
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