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Stock Market & Financial Investment News

News Breaks
June 18, 2014
10:17 EDTAMGN, ABBV, AGN, BIIB, BMY, SHPG, GILD, VRXShire rises after analyst predicts Allergan takeover
Shares of Irish drug maker Shire (SHPG) are climbing after an analyst at SunTrust predicted that Allergan (AGN) would soon look to buy the Irish company. WHAT'S NEW: A bid for Shire by Allergan is imminent, wrote SunTrust analyst John Boris in a note to investors earlier today. An acquisition of Shire would be more advantageous for Allergan shareholders than the proposed hostile takeover of the company by Valeant (VRX), Boris contended. An acquisition of Shire would boost Allergan's stock more than a Valeant deal, and would enable Allergan's shareholders to avoid the risk of holding Valeant's stock, the analyst stated. Following an acquisition of Shire by Allergan, the combined company would have sustainable, transparent revenue growth of about 10%, a diversified sales mix, high value research and development programs and a tax inversion, the analyst believes. Additionally, the transaction would boost Allergan's profit by 50% in its first year and would enable its profit growth to accelerate significantly, according to Boris. He kept a $200 price target and Buy rating on Shire shares. ALSO TODAY: Valeant announced that it has commenced an exchange offer for Allergan, taking its buyout proposal directly to stockholders. Under the terms of the offer, Allergan stockholders would be able to elect to exchange each of their Allergan shares for $72.00 in cash and 0.83 Valeant common shares, or an amount of cash, or a number of Valeant common shares, in each case subject to proration. The offer is scheduled to expire at 5:00 p.m., New York City time, on August 15. WHAT'S NOTABLE: On June 16, Reuters reported that Shire had hired Citigroup (C) as an adviser to prepare for takeover bids. Bankers believe that Shire could be an attractive takeover target for Bristol Myers (BMY), Abbvie (ABBV), Gilead (GILD), Biogen (BIIB) or Amgen (AMGN), the news service reported. PRICE ACTION: In early trading, Shire is up 4%, or $6.61, to $193.77 while Allergan is up 1%, or $1.27, to $161.80. Valeant is little changed at $118.90.
News For SHPG;AGN;VRX;BMY;ABBV;GILD;BIIB;AMGN From The Last 14 Days
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November 11, 2014
11:35 EDTGILDUBS holds a conference call with Gilead Sciences
UBS Biotech Analyst Roden, along with Dr. Bischofberger of Gilead Sciences, discuss the recently-held AASLD Meeting and the outlook of several GILD pipeline programs on a conference call to be held on November 13 at 4:30 pm.
10:44 EDTAMGNAmgen reaffirms 2015 adjusted EPS outlook $9.05-$9.40
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09:06 EDTABBVAbbVie announces positive results from chronic hepatitis C patients study
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09:04 EDTABBVEnanta announces results from TURQUOISE-I, CORAL-I studies
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08:32 EDTVRX, AGNValeant likely to raise offer for Allergan again, says Bernstein
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08:13 EDTABBVAbbVie announces positive results from Phase 2b study PEARL-I
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08:11 EDTABBVEnanta announces rseults from Phase 2b PEARL-I study
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08:07 EDTGILDGilead announces results from Phase 2 and 3 studies evaluating Harvoni
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08:05 EDTGILDGilead announces data from Phase 2 Sofosbuvir plus GS-5816 studies
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November 10, 2014
16:00 EDTGILDOptions Update; November 10, 2014
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15:54 EDTAMGNAmerican Society of Nephrology to hold a conference
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15:53 EDTBMYCredit Suisse to hold a conference
Healthcare Conference is being held in Scottsdale, Arizona on November 10-13 with webcasted company presentations to begin on November 11 at 10:30 am; not all company presentations may be webcasted. Webcast Link
09:35 EDTGILDActive equity options trading
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09:20 EDTGILDOn The Fly: Pre-market Movers
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08:48 EDTGILDGilead rises after Merck presents data on HCV combo
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07:20 EDTGILDGilead overhang from Merck HCV combo removed, says Wells Fargo
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November 9, 2014
15:45 EDTBMYBristol-Myers announces daclatasvir data from the UNITY trial program
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13:26 EDTAGN, VRXAckman's Allergan court win may prove costly down the road, Bloomberg says
When U.S. District Court Judge David Carter ruled on November 4 that Pershing Square can vote its 9.7% stake in Allergan (AGN) in a shareholder ballot aiming to remove Allergan directors, he also noted that there were “serious questions” regarding insider trading rules in the way Pershing Square acquired Allergan stock while preparing a bid with Valeant (VRX), says Bloomberg. Reference Link
12:40 EDTBMYBristol-Myers announces data from ALLY trial investigating daclatasvir
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11:45 EDTBMYBristol-Myers announces data from the UNITY trial program
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