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Stock Market & Financial Investment News

News Breaks
April 28, 2014
10:14 EDTSHPG, VRX, AGNShire climbs after analyst argues Allergan could make bid
Shares of drug maker Shire (SHPG) are climbing after research firm Piper Jaffray predicted that Allergan (AGN) could look to merge with Shire as its best defense to fend off Valeant (VRX). WHAT'S NEW: Allergan's best hope for fending off Valeant's hostile takeover bid would be to merge with Shire, wrote Piper Jaffray analyst David Amsellem in a note to investors earlier today. Moreover, an acquisition of Shire would raise Allergan profits significantly over the near-term and long-term, contended the analyst. The deal could increase Allergan's profit by 50% or higher starting next year, according to Amsellem's estimates. Additionally, the deal would create a company with a strong drug pipeline, contended the analyst, who kept a Neutral rating on Allergan. WHAT'S NOTABLE: A number of firms, including JPMorgan, Sterne Agee, and BMO Capital, predicted today that Valeant would raise its bid for Allergan. PRICE ACTION: In early trading, Shire gained 2.7% to $166.86, Allergan was little changed at $168.60, and Valeant was fractionally higher at $134.50.
News For SHPG;AGN;VRX From The Last 14 Days
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December 17, 2014
10:49 EDTSHPGNPS Pharmaceuticals jumps 12%, halted after report of potential Shire bid
Shire (SHPG) has NPS Pharmaceuticals (NPSP) on the top of its list of potential takeover targets, but is also said to be considering other targets, according to Bloomberg.
10:47 EDTSHPGNPS Pharmaceuticals said to be on top of Shire takeover list, Bloommberg says
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10:47 EDTSHPGNPS halted for volatility after Bloomberg says Shire considers bid
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10:02 EDTAGNOn The Fly: Analyst Downgrade Summary
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06:28 EDTAGNAllergan downgraded to Neutral from Buy at UBS
UBS downgraded Allergan (AGN) to reflect acquisition by Actavis (ACT).
December 16, 2014
09:28 EDTAGNAllergan to host special shareholder meeting
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08:53 EDTAGNActavis accretion targets look more achievable, says Sterne Agee
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07:40 EDTAGNActavis reports Saunders to lead combined company as CEO
Actavis (ACT) announced the planned senior management team that will lead the global pharmaceutical company following the successful close of the acquisition of Allergan (AGN), anticipated in the second quarter of 2015. Brent Saunders will continue to lead Actavis as CEO and President and a member of the Board of Directors. Paul Bisaro will remain Executive Chairman of the board of directors. The company noted that it anticipates continuing to define the subsequent management levels within the global organization as rapidly as possible between now and the close of the acquisition. Actavis announced that, following the close of the acquisition, its global brand sales and marketing will be structured into three organizations: International Brands, Branded Pharma and Allergan Medical. "Although we are acting rapidly in announcing these appointments, we are making them following extensive discussions with David Pyott, Chairman and CEO of Allergan, and his executive leadership team. We believe that by announcing the proposed structure of the combined organization our shareholders, customers and employee teams will better appreciate our commitment to create the most dynamic company in Growth Pharma and will share our confidence in seamless execution of this combination beginning on Day 1," Saunders said.
December 15, 2014
10:00 EDTAGNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: UPS (UPS) downgraded to Hold from Buy at Deutsche Bank... CGG SA (CGG) downgraded to Underperform from Market Perform at Raymond James... Ford (F) downgraded to Hold from Buy at Deutsche Bank... Cenovus Energy (CVE) downgraded to Market Perform from Outperform at BMO Capital... Cobalt (CIE) downgraded to Neutral from Buy at Goldman... Gastar Exploration (GST) downgraded to Neutral from Buy at SunTrust... Itau Unitbanco (ITUB) downgraded to Neutral from Buy at Goldman... Methanex (MEOH) downgraded to Outperform from Strong Buy at Raymond James... OGE Energy (OGE) downgraded to Hold from Buy at Jefferies... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Sempra Energy (SRE) downgraded to Neutral from Overweight at JPMorgan... HollyFrontier (HFC) downgraded to Neutral from Buy at BofA/Merrill... CNA Financial (CNA) downgraded to Market Perform from Outperform at William Blair... Allergan (AGN) downgraded to Hold from Buy at Stifel... RF Micro Devices (RFMD) downgraded to Neutral from Buy at DA Davidson.
07:58 EDTAGNAllergan downgraded to Hold from Buy at Stifel
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December 11, 2014
08:57 EDTSHPGLeerink major pharma & biotech analysts hold analyst/industry conference call
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06:29 EDTSHPGShire CEO sees no immediate need to spend break-up fee, Reuters reports
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December 9, 2014
12:22 EDTSHPGPiper Jaffray biopharm analyst holds an analyst/industry conference call
Senior Research Analyst Schimmer, along with Biopharmaceuticals Analyst Breazzano, discuss gene therapy for hemophilia on an Analyst/Industry conference call to be held on December 11 at 10 am.
10:23 EDTSHPGOn The Fly: Analyst Downgrade Summary
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09:31 EDTAGN, VRXZoetis drops after report of Valeant abandoning growth by acquisitions strategy
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06:39 EDTVRXValeant to abandon growth by acquisitions strategy, Reuters says
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06:14 EDTAGNAllergan price target raised to $245 from $210 at Citigroup
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05:38 EDTSHPGShire downgraded to Neutral from Buy at BofA/Merrill
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December 8, 2014
07:29 EDTAGNUBS to hold investor trip
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07:18 EDTAGNUBS to hold investor trip
2014 Annual West Coast Investor Trip travels on the West Coast on December 8-10.
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