Bull of the Day: AbbVie (ABBV)
Allergan PLC said late Friday that AbbVie Inc. has closed its acquisition of the company. On Tuesday, the companies announced the deal had cleared U.S. antitrust conditions. Back in June, AbbVie announced it would acquire Allergan for about $62 billion. AbbVie shares rose 0.6% after hours while Allergan shares advanced 0.5%.
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How long ago was it that we were writing about how much we liked the aggression shown by AbbVie management in addressing the threat posed by the the expiration of patents concerning Humira, the firms' leading selling product. Humira, a treatment for rheumatoid arthritis, Crohn's disease, and a number of other maladies, has been the firm's cash cow, really since the split from Abbot Laboratories back in early 2013. What AbbVie had done, about a year ago now, was address the potential hole in cash flow potentially created by generic competition for Humira, and to proceed with a deal to acquire Allergan , another cash flow machine, with a cash cow of its own in Botox.
Allergan brings quite a bit to the table for AbbVie. But is it enough to make the big pharma stock a smart pick right now?
AbbVie, Interactive, Inphi, Chegg and ServiceNow highlighted as Zacks Bull and Bear of the Day
Domino's Pizza Inc will join the Standard & Poor's 500, despite having last month withdrawn its long-term growth outlook after closing stores because of the coronavirus pandemic. S&P Dow Jones Indices said on Wednesday it is promoting the Ann Arbor, Michigan-based pizza delivery chain from its S&P MidCap 400, one of several changes it announced to its indexes. While withdrawing its forecast for two- to three-year sales growth, Domino's said U.S. same-store sales were up 7.1% in late March and much of April, as diners under lockdown ordered home delivery more often.
Roche (RHHBY) acquires Stratos Genomics to advance the development of its nanopore sequencer as well as releases positive data on its NMOSD Drug.
FDA approves Lilly's (LLY) selpercatinib for RET-altered lung and thyroid cancers and AstraZeneca (AZN)/Merck's (MRK) Lynparza for new ovarian cancer use.
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings…
AbbVie (NYSE: ABBV), a research-based global biopharmaceutical company, and Allergan plc (NYSE: AGN), a leading global pharmaceutical company, today announced that the U.S. Federal Trade Commission (FTC) has accepted the proposed consent order in connection w…
John Paulson’s 13F portfolio value decreased from $4.63B to $2.62B this quarter. Paulson & Company's largest three positions are Bausch Health, SPDR Gold Trust
Will the new coronavirus cause a recession in US in the next 6 months? On February 27th, we put the probability at 75% and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile market…
The pharmaceutical giant reported strong earnings results thanks to diverse offerings Continue reading...
David Abrams’ 13F portfolio value decreased this quarter from $3.22B to $2.54B. The number of positions increased from 21 to 22.Abrams Capital Management added TransDigm Group while dropping O’Reilly Automotive during the quarter.The top three positions are P…
Editas (EDIT) beats on earnings in the first quarter of 2020 while revenues slightly miss estimates.
Ironwood (IRWD) witnesses strong demand for Linzess in the first quarter. COVID-19 impacts enrollment in clinical studies.
Allergan plc (NYSE: AGN) today announced that The Allergan Foundation has fast-tracked another $2 million dollars in charitable grants for community organizations responding to the COVID-19 pandemic. The new grants double The Allergan Foundation's total COVID-19 donations to date, raising the total to $4 million. The donations are dedicated to 57 organizations working on the front lines of the community response to the pandemic in New York, New Jersey, California, Texas, Ohio, Florida and internationally.
Dan Loeb's 13F portfolio value decreased from $8.70B to $6.27B this quarter. The number of positions decreased from 37 to 30. Third Point increased Amazon and C
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the m…
AbbVie stock recently broke out and the pharmaceutical company just wrapped its acquisition of Allergan. Is AbbVie stock a buy now?
On Allergan's (AGN) first-quarter conference call, investors will look for updates on the extent to which the coronavirus pandemic may have impacted sales of its products
Firm's largest sales of the 1st quarter Continue reading...
Firm's largest sales of the 1st quarter Continue reading...
AbbVie is rallying now that the company has closed its mega-deal with Allergan. The stock is looking to possibly test 2020 highs.
AbbVie’s (ABBV) plan to close the $63 billion Allergan (AGN) deal this month appears on track following the announcement that they have received US Federal Trade Commission (FTC) clearance for the deal.The acceptance of the proposed consent order by the FTC s…
David Tepper's 13F portfolio value decreased from $3.98B to $3.27B this quarter.Appaloosa added Twitter and Netflix during the quarter.Alphabet, Facebook, Amazon, Alibaba Group Holdings, and Micron are the five largest positions.
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Don't just follow the herd, time your exits and entrances well -- even if it is a big player like Warren Buffett that is leading the charge....AGN
The baryon density determined along the lines of sight to localized fast radio bursts is consistent with that determined from the cosmic microwave background and required by Big Bang nucleosynthesis.
AbbVie gets an overweight rating from Morgan Stanley but SVB Leerink, which has the same rating, raised its price target.
The baryon density determined along the lines of sight to localized fast radio bursts is consistent with that determined from the cosmic microwave background and required by Big Bang nucleosynthesis.
In this article we will take a look at whether hedge funds think JD.Com Inc (NASDAQ:JD) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy …
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]
S&P; Dow Jones Indices will make the following changes to the S&P; 500, S&P; 100, S&P; MidCap 400, and S&P; SmallCap 600 effective prior to the opening on Tuesday, May 12:
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