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Stock Market & Financial Investment News

News Breaks
August 19, 2014
13:13 EDTAGN, SLXP, VRXAllergan approached Salix, one other about takeover, WSJ reports
Allergan (AGN) approached Salix Pharmaceuticals (SLXP) and at least one other company about a potential takeover, Wall Street Journal reports, citing people familiar with the matter. Allergan, fighting a hostile takeover attempt by Valeant (VRX), could acquire one of the companies as early as next month, a source told the Journal. Shares of Salix jumped 6%, or $8.16, to $147.33 following the report. Reference Link
News For SLXP;AGN;VRX From The Last 14 Days
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March 17, 2015
08:56 EDTAGNActavis completes Allergan acquisition valued at $70.5B
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March 16, 2015
18:38 EDTAGNAmerican Airlines to replace Allergan in S&P 500 as of 3/20 close
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17:19 EDTAGNAmerican Airlines to replace Allergan in S&P 500 as of 3/20 close
16:28 EDTSLXP, VRXOn The Fly: Closing Wrap
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16:01 EDTVRXValeant files to sell $1.45B in common stock
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12:43 EDTSLXP, VRXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after stimulus talk out of China and a rally in European stock markets lifted the U.S. market at the open. There was little reaction to the day’s domestic economic reports, which included the Empire manufacturing index, industrial production data, and a homebuilder confidence index. The week's big economic news, however, is yet to come, as investors look forward to the conclusion of the Federal Reserve's latest rate setting meeting on Wednesday. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index dipped to 6.9 in March, versus the consensus forecast for a reading of 8.0. Industrial production edged up 0.1% in February, versus expectations for an increase of 0.2%, and capacity utilization fell to 78.9%, versus the 79.5% consensus forecast. The NAHB homebuilder sentiment index dropped to 53 in March from 55 in February, missing expectation for the index to rise to 56. Oil prices continued to tumble, with U.S. crude dropping to a six-year low below $44 per barrel earlier in the session. In Asia, Chinese Premier Li Keqiang said Sunday that his government has room and the tools to take action should growth falter, without detailing specific remedies the government might pursue. COMPANY NEWS: Valeant (VRX), which not long ago lost out to Actavis (ACT) in the race to buy Allergan (AGN), increased its chances of making sure its latest buyout deal gets done by increasing its takeover offer to Salix Pharmaceuticals (SLXP) by about $1B. Rival bidder Endo Health (ENDP) confirmed that it is withdrawing its cash and stock proposal to acquire Salix after Valeant raised its all-cash bid for Salix to $173 per share from $158 per share. Shares of Valeant and Salix both rose about 2%, while Endo shares gained 2.5% following the announcements. MAJOR MOVERS: Among the notable gainers was Life Time Fitness (LTM), which rose 5% after entering into a definitive agreement to be acquired by private equity firms Leonard Green & Partners and TPG in a transaction valued at more than $4B, or $72.10 per share, in cash. Also higher was Edwards Lifesciences (EW), which rose 8% after the company reported data at this weekend's American College of Cardiology conference. Among the noteworthy losers was iDreamSky (DSKY), which dropped more than 25% after the company lowered its guidance because the launch of a popular casual game was delayed on one of the company distribution platforms and the monetization of another popular casual game was less than expected. Also lower were shares of Enzo Biochem (ENZ), which fell 17% after an appeals court reversed-in-part and vacated-in-part the judgment in Enzo’s favor that Life Technologies' (LIFE) Applera Corp. infringed certain Enzo patents. INDEXES: Near midday, the Dow was up 174.81, or 0.98%, to 17,924.12, the Nasdaq was up 39.80, or 0.82%, to 4,911.55, and the S&P 500 was up 20.07, or 0.98%, to 2,073.47.
12:18 EDTVRX, SLXPProgenics Relistor SI royalty loss transient, says Brean Capital
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10:58 EDTVRX, SLXPValeant price hike likely ends Salix saga, says UBS
UBS believes the race for Salix (SLXP) is likely over now that Valeant (VRX) has increased its offer price, as expected. The firm said it will still like both Valeant (VRX) and Endo (ENDP) if this is how things end, as it believes the deal is still a very good one for Valeant despite the higher price and it expects Endo to find another deal that should be accretive. UBS has Buy ratings on both Valeant and Endo Health.
10:22 EDTAGNEuropean Commission clears Actavis' pending acquisition of Allergan
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10:18 EDTVRX, SLXPValeant should win Salix with increased offer, says Cantor
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10:14 EDTAGNOptions with decreasing implied volatility
Options with decreasing implied volatility: EXPR ULTA SGMS QIHU BKS PAY URBN AGN AGNC
10:07 EDTSLXPHigh option volume stocks
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09:24 EDTSLXPEndo withdraws proposal for Salix
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09:22 EDTVRX, SLXPOn The Fly: Pre-market Movers
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08:17 EDTSLXP, VRXValeant rises 1% after sweetening Salix takeover offer
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08:06 EDTSLXP, VRXValeant ses Salix deal closing on April 1
08:05 EDTVRX, SLXPValeant raises offer price for Salix to $173 per share from $158
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08:04 EDTVRX, SLXPValeant, Salix agree on amended terms to merger agreement
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07:50 EDTSLXPSalix trading halted, pending news
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07:50 EDTSLXP, VRXValeant to raise offer for Salix to $173 per share, DJ reports
Dow Jones cites sources.
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