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Pfizer To Acquire Icagen for $6/Share
Wednesday, July 20, 2011 - 8:30am | 346Pfizer Inc. (NYSE: PFE) and Icagen, Inc. (Nasdaq: ICGN) today announced that they have entered into a definitive merger agreement. Pfizer, which currently owns approximately 11% of Icagen's fully diluted shares, will acquire the remaining 8.3 million shares at a price of $6.00 per share. The...
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Piper Jaffray Reiterates Overweight on SLXP
Wednesday, July 20, 2011 - 8:23am | 82Piper Jaffray has issued a report reiterating the Overweight Rating on Salix Pharmaceuticals (NASDAQ: SLXP). ACcording to the report, "We spent yesterday with Salix senior management meeting with investors. We came away with even greater confidence that there is a reasonable path forward for...
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UPDATE: Citi Raises PT on Johnson & Johnson to $73
Wednesday, July 20, 2011 - 8:07am | 129Citi is out with its report today on Johnson & Johnson (NYSE: JNJ), raising its PT from $71 to $73. In a note to clients, Citi writes, "As expected, 2Q was not quite as robust as 1Q due to a generic hit in Pharma and a tougher environment in MD&D. JNJ still beat consensus EPS by $0.05 but...
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JP Morgan Reiterates JNJ Neutral Rating
Wednesday, July 20, 2011 - 8:07am | 74JP Morgan has issued a report maintaining a Neutral Rating on Johnson & Johnson (NYSE: JNJ). According to the report, "J&J reported solid 2Q results yesterday morning. Sales of $16.597B (+8.3% reported, +2.6% cc, +2.0% organic) were $363M (+240bp) ahead of the Street, owing to better than...
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Jefferies Reports FDA Votes Against BMY Dapagliflozin Approval
Wednesday, July 20, 2011 - 7:47am | 107Jefferies has issued a report that the FDA advisory panel has voted against the approval of Bristol-Myers Squibb's (NYSE: BMY) dapagliflozin. According to the report, "The FDA's Endocrinologic and Metabolic Drugs Advisory Committee (AdCom) voted that the efficacy/ safety data did not provide...
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Duncan Williams Raises PT On Forest Laboratories To $48
Wednesday, July 20, 2011 - 7:43am | 27Duncan Williams has raised the price target on Forest Laboratories (NYSE: FRX) from $45 to $48 and maintains its Buy rating.
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Morgan Stanley Comments on Johnson & Johnson
Wednesday, July 20, 2011 - 7:35am | 109Morgan Stanley has published a report on Johnson & Johnson (NYSE: JNJ) broadly commenting on the company. In the report, Morgan Stanley wrote, "We're not overly alarmed by 2H11 EBIT shortfall. Though the quarter does raise some questions on long-term leverage potential, the reduction in...
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Piper Jaffray Reiterates Overweight on Forest Laboratories
Wednesday, July 20, 2011 - 7:27am | 68Piper Jaffray is out with its report today on Forest Laboratories (NYSE: FRX), reiterating Overweight. In a note to clients, Piper Jaffray writes, "We believe FRX is likely to underperform its peers given its massive generic exposure. Our $29 PT is based on 8x our FY12E EPS of $3.67 (up from $3.66...
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Merck and Roche Expand Agreement in Fight Against Chronic Hepatitis C
Wednesday, July 20, 2011 - 7:12am | 51Merck (NYSE: MRK) announced today that it has signed a new non-exclusive agreement with Roche, through the companies' respective subsidiaries, for the global promotion, upon appropriate marketing approvals, of VICTRELIS as part of a triple combination therapy regimen with peginterferon alfa and...
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Citigroup Raises PT On Johnson & Johnson To $73
Wednesday, July 20, 2011 - 6:43am | 26Citigroup has raised the price target on Johnson & Johnson (NYSE: JNJ) from $71 to $73 and maintains its Buy rating.
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US Stock Futures Up After Upbeat Earnings From Apple
Wednesday, July 20, 2011 - 6:22am | 552US stock futures are higher this morning, after strong earnings from Apple Inc (NASDAQ: AAPL). Futures on the Dow Jones Industrial Average surged 37 points to 12,544.00 and futures on the S&P 500 stock index rose 5.20 points to 1,326.40. Nasdaq 100 futures gained 19.25 points to 2,408.25. US...
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ISI Provides Color on Bristol Myers Squibb
Wednesday, July 20, 2011 - 3:00am | 130ISI provided color on Bristol Myers Squibb (NYSE: BMY). In a research report published today, ISI commented on the likelihood FDA will not approve the company's new drug. In the report, ISI states, “We are lowering our probability of success for dapa from 55% to 20% to reflect the 9 to 6 negative...
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Earnings Scheduled For July 20
Wednesday, July 20, 2011 - 2:59am | 502Altria Group Inc (NYSE: MO) is expected to report its Q2 EPS at $0.53 on revenue of $4.43 billion. QUALCOMM Incorporated (NASDAQ: QCOM) is projected to report its Q3 EPS at $0.71 on revenue of $3.59 billion. eBay Inc (NASDAQ: EBAY)is projected to report its Q2 EPS at $0.46 on revenue of $2.61...
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Stocks to Watch for Wednesday 7/20/2011: Fresh 52 Week Highs and Lows
Wednesday, July 20, 2011 - 1:51am | 3102Stocks trading at or near 52-week highs and lows provide excellent trading opportunities, as volatility tends to increase at such levels. The following stocks hit new 52-week highs in Tuesday's trading session (listed from highest total volume to lowest): 1) Apple (NASDAQ: AAPL): Shares of Apple...
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Top 4 NYSE Stocks In The Real Estate Development Industry With The Highest Cash
Wednesday, July 20, 2011 - 1:29am | 131Below are the top real estate development stocks on the NYSE in terms of cash. St. Joe Company (The) (NYSE: JOE) had $216.23 million in total cash and $53.94 million in total debt for the latest quarter. IFM Investments Limited (NYSE: CTC) had $79.18 million in total cash and no debt for the...