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Valeant Pharmaceuticals Trading Higher Pre-Market (VRX)
Wednesday, March 30, 2011 - 8:36am | 41Valeant Pharmaceuticals (NYSE: VRX) is trading higher pre-market. At the time of posting, shares of VRX were at $51.50, up 16.02% from Tuesday's close. Valeant has proposed to acquire Cephalon for $73/sh according to Cephalon.
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Piper Jaffray Reiterates OW Rating On VRX
Wednesday, March 30, 2011 - 8:24am | 175Piper Jaffray is reiterating its OW rating on shares of Valeant Pharmaceuticals International, Inc. (NYSE: VRX). “Last night, Valeant announced that it is making an unsolicited offer to acquire Cephalon Inc. (NASDAQ: CEPH) for $73 per share in an all-cash transaction,” Piper Jaffray writes. “Even...
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Benzinga's Top Pre-Market NASDAQ Gainers (CEPH, CIGX, GLUU, CLNE)
Wednesday, March 30, 2011 - 8:10am | 169Cephalon Inc (NASDAQ: CEPH) shares surged 31.06% to $77 in the pre-market session. Valeant Pharmaceuticals International (NYSE: VRX) made an unsolicited $5.7 billion offer to purchase Cephalon. Star Scientific Inc (NASDAQ: CIGX) shares advanced 5.34% to $4.14 in the pre-market session. CIGX shares...
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Goldman Sachs Moves VRX To Not Rated
Wednesday, March 30, 2011 - 7:38am | 109Goldman Sachs reports that the Americas Investment Review Committee has determined that the rating and price target for Valeant Pharmaceuticals International, Inc. (NYSE: VRX) should be removed. “Goldman Sachs is acting as a financial advisor in connection with a matter that is fundamental to the...
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Oppenheimer Initiates Coverage Of Lannett At Outperform, $7 PT (LCI)
Wednesday, March 30, 2011 - 7:33am | 23Oppenheimer initiates coverage of Lannett (NYSE: LCI) at an Outperform rating with a $7 Price Target.
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BlackRock To Replace Genzyme In The S&P 500 Index (BLK, GENZ)
Wednesday, March 30, 2011 - 7:29am | 167BlackRock (NYSE: BLK) is scheduled to replace Genzyme (NASDAQ: GENZ) in the S&P 500 as the biotech company is set to be acquired. BLK, the world's largest money manager, is trading $8.84 higher than yesterday's close, or +4.7%. GENZ is trading flat since yesterday's closing price. BlackRock...
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A Peek Into The Market Before The Trading Starts
Wednesday, March 30, 2011 - 7:28am | 393Pre-open movers US stock futures are higher this morning, as investors are awaiting ADP employment data. Futures for the Dow Jones Industrial Average surged 51 points to 12,276.00, and those for the S&P 500 index gained 6.20 points to 1,322.70. Futures for the Nasdaq 100 index added 16.50...
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Biodel Announces Appointment of Dr. Brian J.G. Pereira as Board Chairman
Wednesday, March 30, 2011 - 7:06am | 66Biodel Inc. (Nasdaq: BIOD) announced today the appointment of Dr. Brian J.G. Pereira as board chairman effective immediately. Dr. Pereira has served on the board since November 2007. Dr. Charles A. Sanders, who served as chairman since March 2010 after joining the board in August 2006, will...
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Dr. Reddy's Announces Completion of the Acquisition of US Penicillin Facility and Products from GlaxoSmithKline
Wednesday, March 30, 2011 - 6:57am | 110Dr. Reddy's Laboratories (NYSE: RDY) today announced the completion of the acquisition of GlaxoSmithKline's (NYSE: GSK) United States oral penicillin facility and product portfolio pursuant to the agreement signed and announced by the companies on Nov 23, 2010. As a result of the acquisition, Dr...
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US Stock Futures Up As Investors Await ADP Employment Report
Wednesday, March 30, 2011 - 6:26am | 454US stock futures are higher this morning, as investors are awaiting ADP employment data. Futures for the Dow Jones Industrial Average surged 36 points to 12,261.00, and those for the S&P 500 index gained 4.80 points to 1,321.30. Futures for the Nasdaq 100 index added 12.25 points to 2,334.75...
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Stocks To Watch For March 30 (FDO, ZZ, VRX, CEPH, MOS, TIBX)
Wednesday, March 30, 2011 - 12:54am | 291Some of the stocks that may grab investor focus today are: Wall Street expects Family Dollar Stores Inc (NYSE: FDO) to report its Q2 earnings at $0.97 per share on revenue of $2.27 billion. FDO shares gained 0.86% to $52.85 in after-hours trading. Sealy Corp (NYSE: ZZ) swung to a Q1 loss of $902,...
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Bulls on the Loose 03-29-2011
Tuesday, March 29, 2011 - 7:12pm | 890Cusick's Corner Encouragement – that's what the market felt holding onto the gains of the Midday. This is also plays well into the bull spread strategies that I discussed a few Corners ago. Tomorrow's ADP data will be a potential catalyst for the bulls early in the session, plus if we see a...
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Cephalon Halted; Valeant Pharmaceuticals Proposes to Acquire For $73/Share In Cash (CEPH, VRX)
Tuesday, March 29, 2011 - 5:38pm | 32Cephalon (NASDAQ: CEPH) Halted; Valeant Pharmaceuticals (NYSE: VRX) Proposes to Acquire Company For $73/Share In Cash.
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Cephalon Up 27% After Receving Offer (VRX, CEPH)
Tuesday, March 29, 2011 - 5:37pm | 241Cephalon, Inc. (NASDAQ: CEPH) shares are spiking more than 27% after the company received a takeover offer from Valeant Pharmaceuticals (NYSE: VRX) for $73 per share in cash. Shares are currently trading at $75, $2 above the offer price. "We have taken a close look at Cephalon's business and...
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Somaxon Pharmaceuticals Announces Issuance of Patent Relating to Pharmacokinetics of Silenor
Tuesday, March 29, 2011 - 4:07pm | 97Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX) today announced that the U.S. Patent and Trademark Office has issued U.S. patent no. 7,915,307, entitled “Methods of Improving the Pharmacokinetics of Doxepin.” This patent generally relates to dosing Silenor® (doxepin) at least three hours after a...