The company has taken corrective action and states that the situation does not impact its previously reported financial results.
Ackman's lost more than $666 million on paper on his Valeant position since Monday's close. His losses to date on his Valeant investment are estimated at north of $2 billion.
S&P Capital reduce their price target from $90 to $30.
Sure hope you took my advice & sold this pos for a small profit. Other wise welcome to the bagholder club! Enjoy! See you at $15......
VRX downgraded to "sector underperform", target reduced to $24
Un-real & u idiots are buying into this BS? So now we have to wait for bankruptcy in May in stead of April. Oh well I can wait another month for this pos to go to ZERO!
The rules have two main parts, each of which could affect the Pfizer deal. First, the government would go after what it calls "serial inverters," large companies created through multiple inversions or takeovers of U.S. companies. The government would disregard U.S. assets acquired by such companies over the previous three years.
Consider Allergan. The company's current heft is the result of several cross-border deals, starting with the 2013 inversion of Actavis Inc., a small New Jersey-based drugmaker, through a takeover of Ireland-based Warner Chilcott PLC. What followed was a string of ever-larger deals, culminating in Actavis's $66 billion takeover of U.S.-based Allergan Inc. last year.
Under the new Treasury regulations, those deals would be disregarded for the purposes of determining Allergan's size under the tax law. The three-year window would cover the 2015 merger of Actavis and Allergan, Actavis' $25 billion purchase of Forest Laboratories Inc. in 2014, and the original $5 billion Warner Chilcott deal.
Stripping those deals out of Allergan's closing market capitalization of $106 billion could make it too small to serve as Pfizer's inversion partner under federal rules that disfavor lopsided mergers, or limit the financial benefits of the arrangement.
To reap the full benefits of inverting, the U.S. company's shareholders should own between 50% and 60% of the merged entity, which requires a partner of carefully calibrated size. Above that, some restrictions apply, including rules making it harder for companies to access foreign profits. The Pfizer-Allergan deal is structured so that Pfizer's shareholders will own 56% of the company.
Mr. Willens said the new percentage in the Pfizer-Allergan deal would be at least 60% and could approach 80%, above which all benefits of the inversion are lost.
"It certainly puts a crimp in the deal and it's not out of the question I suppose that Pfizer would want to rethink the transaction given the dev
That's a 14% increase! 34.5% of the float. All time high short interest, while the stock price is at a 2 year low. Not good! Look for AMAG to slide back down to $15 or less. If long, cut your loses & move on. Amag is a dog!
Deutsche analyst Nandan Amladi also cut his PT to $35 (from $50), saying that the slowdown in Verint's emerging market business and slower-than-expected enterprise growth will weigh on results going forward.
Credit Suisse analyst Michael Nemeroff, meanwhile, slashes his PT to $29 (from $45), arguing that Verint lacks near-term catalysts to drive the stock higher.
Treasury Secretary Jacob Lew said in a new statement. "This will have an important effect, but we cannot stop these transactions without new legislation. I urge Congress to move forward with anti-inversion legislation this year," Lew added.
IRS has no power to create new laws, congress must enact & pass new law. This is nothing more then political gesturing.
Like how you forgot to post the up side numbers. worldwide ex. China for Q2 2015: 3.7% vs. 1.0%; Brazil Q3 2015: 71.9% vs. 65.0%; Mexico Q2 2015: 21.7% vs. 14.0%.
RBC Capital downgraded Valeant Pharmaceuticals from Outperform to Sector Perform with a price target of $85.00 (from $194.00). Another pumper dying on the grape vine. See u at $40
3/28/2016 Robert W. Baird Lower Price Target Outperform $26.00 - $25.00 View Rating Details Tweet This Rating Share This Rating on StockTwits
3/28/2016 Leerink Swann Lower Price Target Outperform $25.00 - $23.00 View Rating Details Tweet This Rating Share This Rating on StockTwits
3/28/2016 Ladenburg Thalmann Downgrade Buy - Neutral View Rating Details Tweet This Rating Share This Rating on StockTwits
3/28/2016 Jefferies Group Upgrade Underperform - Hold $16.00 - $19.00
Earning estimates must be falling like a cheap $10 #$%$. Watch for a major reduction in earnings & revenue. I would say in the neighbor of 30% to %40.AMAG will definitely tank to $10
Not to mention they are burning thru their cash. No way I hell can they ever pay off their $30 Billion in debt
Mizuho Securities downgraded Diplomat Pharmacy from Buy to Neutral with a price target of $30.00 (from $44.00) on valuation.
Analyst Ann Hynes commented, "We are downgrading shares of Diplomat Pharmacy (DPLO) post last night’s initial 2016 guidance of $0.84-$0.89 compared to our estimate of $1.10 and consensus of $1.00. Adjusted EBITDA is $116mm-$123mm versus consensus of $132mm and our estimate of $136mm, which is 12% below our estimate at the mid-point. Given the guidance miss, we do not think DPLO will command a premium valuation multiple any longer. As a result, our new $30 price target (versus $44 previously) is based on 20.0x 2016E EV/EBITDA on our newly lowered estimates versus 22.5x previously." More like a $10 stock.