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Merger Arbitrage Mondays – May 23, 2011
Monday, May 23, 2011 - 2:08am | 4780Merger activity increased last week with five new deals announced and seven closing. You can find all the active deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours. Deal Statistics: Total Number of Deals Closed in 2011 74 Total Number of Deals...
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Stock Watchlist For Next Week
Friday, May 20, 2011 - 6:26pm | 1570( click to enlarge ) Shares of Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) surged more than 7% to $1.38 per share on today's session after announced that lorcaserin will be featured in presentations at ECO 2011, the 18th European Congress on Obesity. This event will take place May 25-28, 2011,...
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Cephalon Granted Temporary Restraining Order in AMRIX Patent Litigation
Friday, May 20, 2011 - 2:11pm | 82Today, the United States District Court for the District of Delaware granted a motion filed by plaintiffs Cephalon, Inc. (NASDAQ: CEPH), and Eurand, Inc., for a Temporary Restraining Order enjoining Mylan Pharmaceuticals Inc., and Mylan Inc. (NYSE: MYL), from manufacturing, using, offering to sell...
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Calls Purchased on Exact Sciences Corporation
Friday, May 20, 2011 - 2:04pm | 130Shares of Exact Sciences Corporation (NASDAQ: EXAS) are higher on the session by 2.77%, currently trading at $7.24. The stock has been moving largely higher over the past three months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the...
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Calls Purchased on Alkermes, Inc.
Friday, May 20, 2011 - 10:38am | 129Shares of Alkermes, Inc. (NASDAQ: ALKS) are higher on the session by 2.29%, currently trading at $18.54. The stock has been moving largely higher over the past four months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A...
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Celldex Announces Exercise of Over-Allotment Option of 1.5M Shares
Friday, May 20, 2011 - 9:20am | 92Celldex Therapeutics, Inc. (Nasdaq: CLDX) today announced that the underwriters of its previously announced public offering of common stock have exercised in full their over-allotment option to purchase an additional 1,500,000 shares of common stock at the public offering price of $3.15 per share...
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ImmunoGen, Inc. Prices Public Offering of 7M Shares at $12 per Share
Friday, May 20, 2011 - 9:01am | 58ImmunoGen, Inc. (Nasdaq: IMGN) announced today that it has priced an underwritten public offering of 7,000,000 shares of its common stock at a price to the public of $12.00 per share. Gross proceeds are expected to be approximately $84.0 million, before deducting the underwriting discounts and...
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Upgrades Downgrades, Stocks to Watch May 20
Friday, May 20, 2011 - 8:45am | 312The Gap Inc. (GPS) Horrible Guidance - filled a gap on its daily bottomed out after spitting the 20 level in the post market Gap Cut To Neutral From Overweight By Piper Jaffray The Mosaic Company (MOS) Going Positive in the pre market after a Secondary. Very strong pre market 15 minute for the...
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Benzinga's Top Pre-Market NASDAQ Losers
Friday, May 20, 2011 - 8:25am | 120Popular Inc (NASDAQ: BPOP) dipped 5.61% to $2.86 in the pre-market session. BPOP announced termination of negotiations to sell bad loans. ImmunoGen Inc (NASDAQ: IMGN) fell 4.56% to $12.15 in the pre-market session. IMGN intends to offer shares of its common stock in an underwritten public...
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Benzinga's Top Downgrades
Friday, May 20, 2011 - 8:24am | 140Analysts at Cowen downgraded Take-Two Interactive Software Inc (NASDAQ: TTWO) from “neutral” to “underperform.” TTWO's shares closed at $17.41 yesterday. TTWO's PEG ratio is 1.56. Analysts at Piper Jaffray downgraded Gap Inc (NYSE: GPS) from “overweight” to “neutral.” GPS' shares closed at $23.29...
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Benzinga's Top Pre-Market NASDAQ Gainers
Friday, May 20, 2011 - 8:17am | 157Acorda Therapeutics Inc (NASDAQ: ACOR) shares advanced 20.07% to $32.07 in the pre-market session. The Committee for Medicinal Products for Human Use of the European Medicine Agency recommended conditional marketing authorization of FAMPYRA. Opnext Inc (NASDAQ: OPXT) shares advanced 16.58% to $2....
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Benzinga's Top Upgrades
Friday, May 20, 2011 - 8:15am | 134Piper Jaffray upgraded Sprint Nextel Corp (NYSE: S) from “neutral” to “overweight.” Sprint Nextel's shares closed at $5.33 yesterday. Sprint Nextel's trailing-twelve-month revenue is $32.79 billion. Analysts at Citigroup upgraded AES Corporation (NYSE: AES) from “hold” to “buy.” AES' shares closed...
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Amgen Receives CHMP Positive Opinion for XGEVA
Friday, May 20, 2011 - 8:15am | 125Amgen (Nasdaq: AMGN) today announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has recommended a positive opinion for the marketing authorization of XGEVA for the prevention of skeletal-related events (pathological fracture, radiation to bone, spinal...
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Progenics Announces Results of Methylnaltrexone Phase 3 Safety Study in Chronic, Non-Malignant Pain Patients
Friday, May 20, 2011 - 8:03am | 93Progenics Pharmaceuticals (Nasdaq: PGNX) today provided analyses of safety and efficacy endpoints from the 1,034-patient, one-year phase 3 safety study of methylnaltrexone bromide subcutaneous injection in non-malignant pain patients with opioid-induced constipation. At a fixed dose of 12 mg, the...
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Targacept Public Offering of 3.66M Shares at $20.50 per Share
Friday, May 20, 2011 - 8:01am | 76Targacept, Inc. (NASDAQ: TRGT) announced today the pricing of an underwritten public offering of 3,658,537 shares of its common stock at a price to the public of $20.50 per share. The net proceeds to Targacept from the sale of the shares, after deducting underwriting discounts and commissions and...