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Stock Market & Financial Investment News

News Breaks
June 17, 2014
08:19 EDTVRX, AGNValeant says 'clear' that Allergan 'will never sit down' with company
Valeant (VRX) says it remains committed to the Allergan (AGN) deal, that it has "a clear path to completion of a transaction" and that the company will "be patient since time is on our side." Valeant plans to launch an exchange offer this week to take its proposal directly to Allergan shareholders and said that Pershing has commenced Delaware litigation to facilitate the solicitation process. Valeant says a hearing on a motion to expedite is scheduled for June 19. Valeant says an application to the court has been made by holders of 10% of Allergan shares to call a meeting to elect replacement directors and that a meeting should be held within "approximately two months" of the application. Information from slides for Valeant Pharmaceuticals "webcast to correct recent misrepresentations."
News For VRX;AGN From The Last 14 Days
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October 20, 2014
07:06 EDTVRXValeant raises FY15 outlook cash EPS $10.00 from $9.90
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07:05 EDTVRXValeant raises Q4 cash EPS $2.45-$2.55 from $2.35-$2.45
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07:03 EDTVRXValeant reports Q3 cash EPS $2.11, Q3 GAAP EPS 81c
Reports Q3 revenue revenue $2.1B; Reports Q3 total same store sales organic growth 19%. Bausch + Lomb organic growth was 12%. Q3 GAAP Operating Cash Flow $619 million, an increase of 207%; Adjusted Operating Cash Flow $771 million, an increase of 89%
06:28 EDTAGNAllergan price target raised to $210 from $190 at Citigroup
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October 17, 2014
09:47 EDTAGN, VRXValeant will not raise Allergan bid ahead of record date, CNBC reports
Valeant (VRX) will not raise its hostile takeover bid for Allergan (AGN) ahead of the record date for the vote, CNBC's David Faber reports. Allergan (AGN) is not currently in takeover talks with Actavis (ACT), Faber added.
09:45 EDTAGNAllergan not in deal talks with Actavis, CNBC reports
09:43 EDTAGN, VRXValeant not going to raise Allergan bid ahead of meeting, CNBC reports
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October 16, 2014
12:42 EDTVRX, AGNAckman believes Allergan, Valeant merger likely, CNBC reports
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12:38 EDTAGN, VRXAckman says Allergan CEO manipulated Valeant shares, CNBC reports
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08:58 EDTAGNAllergan was pressured by AbbVie news, says BMO Capital
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07:23 EDTAGNIBF Conferences to hold a summit
Ophthalmology Innovation Summit is being held in Chicago on October 16.
October 15, 2014
15:00 EDTAGNShire-Allergan, AbbVie-Pfizer deals possible if merger scrapped, Bloomberg says
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13:07 EDTAGN, VRXAllergan seeing arb-related selling pressure, says BMO Capital
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October 14, 2014
06:03 EDTAGNMarket overreacted to new Irish tax rules, says BMO Capital
BMO Capital believes the market may have overreacted yesterday to the report that Ireland is eliminating the "Double Irish" tax loophole. The firm says Allergan (AGN) confirmed that it incorporated potential changes to Irish tax law in its recently raised earnings guidance while Mallinckrodt (MNK) said it does expect the new tax structure to have an immediate impact. BMO views yesterday's pullback in shares of Allergan, Mallinckrodt and Actavis (ACT) as an overreaction.
October 13, 2014
06:39 EDTAGNAllergan takeout value at or above $210 per share, says Leerink
Leerink believes Allergan's takeover value is now at or above $210 per share given the company's recent execution. After speaking with management, the firm says Allergan's upside in Q3 was driving by fundamentals, not cost cuts. It continues to view the "most likely and straightforward outcome" for Allergan as being an outright sale of the company. Leerink raised its price target for shares to $215 from $184 and keeps an Outperform rating on Allergan.
October 10, 2014
17:14 EDTAGNMarket ends week lower amid global growth worries
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10:20 EDTAGNFidelity supports potential merger between Actavis and Allergan, Reuters reports
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07:37 EDTVRX, AGNActavis more likely partner than Valeant if Allergan merges, says UBS
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07:35 EDTAGNAllergan price target raised to $224-$225, from $198-$199 at Wells Fargo
Wells Fargo increased its price target on Allergan after the company pre-released better-than-expected revenue and EPS, and raised its 2014-2016 EPS guidance. The firm keeps an Outperform rating on the shares.
07:16 EDTVRX, AGNAmerican Society of Plastic Surgeons to hold annual meeting
Annual Meeting of ASPS is being held in Chicago on October 10-14.
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