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Stock Market & Financial Investment News

News Breaks
November 9, 2012
15:16 EDTMRX, VRXJefferies sees no danger to Valeant, Medicis deal
Jefferies believes the Valeant's (VRX) acquisition of Medicis (MRX) is not in danger following the Qmed lawsuit and said it would be a buyer of Valeant on any weakness.
News For VRX;MRX From The Last 14 Days
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March 25, 2015
11:59 EDTVRXPershing Square reports 5.7% stake in Valeant, will continue talks
Pershing Square expects to conduct discussions with Valeant and other relevant parties regarding strategic acquisitions by or joint ventures with the company, or other similar arrangements. These discussions would be exploratory in nature and there is no assurance that they would lead to a definitive transaction.
March 24, 2015
13:24 EDTVRXContact lens manufacturers accused of price-fixing, Bloomberg says
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March 23, 2015
07:51 EDTVRXValeant price target raised to $240 from $185 at Susquehanna
Susquehanna raised its price target on Valeant to $240 from $185 to reflect the addition of durable assets and the improved growth trajectory its recent deals brings to its U.S. business. Susquehanna reiterated its Positive rating on Valeant shares.
07:17 EDTVRXAmerican Academy of Dermatology to hold annual meeting
73rd Annual Meeting of AAD is being held in San Francisco on March 20-24.
March 20, 2015
16:33 EDTVRXStocks end week higher after market reads Fed statement as dovish
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March 18, 2015
05:45 EDTVRXSalix downgraded to Hold from Buy at Jefferies
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March 17, 2015
14:10 EDTVRXIGI Laboratories recent sell-off a buying opportunity, says Craig-Hallum
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09:01 EDTVRXValeant 7.29M share Spot Secondary priced at $199.00
Deutsche Bank acted as sole book running manager for the offering.
March 16, 2015
16:28 EDTVRXOn 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 EDTVRXOn 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 EDTVRXProgenics Relistor SI royalty loss transient, says Brean Capital
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10:58 EDTVRXValeant 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.
10:18 EDTVRXValeant should win Salix with increased offer, says Cantor
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09:22 EDTVRXOn The Fly: Pre-market Movers
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08:17 EDTVRXValeant rises 1% after sweetening Salix takeover offer
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08:06 EDTVRXValeant ses Salix deal closing on April 1
08:05 EDTVRXValeant raises offer price for Salix to $173 per share from $158
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08:04 EDTVRXValeant, Salix agree on amended terms to merger agreement
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07:50 EDTVRXValeant to raise offer for Salix to $173 per share, DJ reports
Dow Jones cites sources.
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