ABBV Jan 2022 70.000 call

OPR - OPR Delayed Price. Currency in USD
19.00
+3.50 (+22.58%)
As of 3:32PM EST. Market open.
Stock chart is not supported by your current browser
Previous Close15.50
Open21.00
Bid17.05
Ask21.25
Strike70.00
Expire Date2022-01-21
Day's Range19.00 - 21.00
Contract RangeN/A
Volume6
Open Interest140
  • AbbVie Sells $30 Billion of Bonds to Fund Allergan Acquisition
    Bloomberg

    AbbVie Sells $30 Billion of Bonds to Fund Allergan Acquisition

    (Bloomberg) -- AbbVie Inc. sold $30 billion of bonds to help finance its acquisition of Allergan Plc as investors flocked to buy a piece of the largest debt sale this year. Demand for the notes was strong with the order book peaking at $77 billion.The drug maker capitalized on some of the cheapest borrowing costs of the year, with risk premiums over Treasuries at the lowest level since October 2018. That should encourage more borrowers to come forward, with investment-grade syndicate desks projecting another $17 billion in sales this week on top of AbbVie’s expected offering.Read more: IG ANALYSIS: AbbVie Prints $30b Through Curve; $73b Final BookAbbVie’s sale tops the chart as the biggest bond sale this year and it’s the fourth largest of all time. The offering came in 10 parts with the 30-year security yielding 1.90 percentage points above Treasuries, after initially discussing around 2.1 percentage points, according to people with knowledge of the matter, who asked not to be identified as the details are private. Investors placed about $77 billion in orders, people familiar with the order book said.AbbVie agreed to buy Allergan in June for $63 billion in one of the largest pharmaceutical deals this year. It should bring much-needed diversity to the acquirer’s line-up, as AbbVie’s cornerstone drug Humira, which treats arthritis, has been facing more competition, especially in Europe. U.S. antitrust officials are still reviewing the deal, which the companies expect will close early next year.The deal is expected to take the combined company’s debt to more than three times a measure of its earnings, credit raters have said. Still, Moody’s Investors Service has left its rating on AbbVie unchanged at two levels above speculative grade, as the transaction should generate significant free cash flow. S&P Global Ratings, however, said it will likely cut AbbVie one level to BBB+, three levels above junk.Read more: Corporations Pile Into Bond Market as Borrowing Costs DropManagement has reiterated its intention to pay down debt, to achieve a ratio of net debt to Ebitda -- earnings before interest, tax, depreciation and amortization -- of 2.5 times by the end of 2021. Further deleveraging through 2023 is possible, Chief Financial Officer Rob Michael said on an earnings call earlier this month.Morgan Stanley, Bank of America Corp. and Barclays Plc managed the bond sale, the person said.\--With assistance from Brian Smith.To contact the reporter on this story: Elizabeth Rembert in New York at erembert@bloomberg.netTo contact the editor responsible for this story: Nikolaj Gammeltoft at ngammeltoft@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • GuruFocus.com

    US Indexes End the Day Higher Tuesday

    S&P; 500 closes at 3,091.84 for a gain of 0.16% Continue reading...

  • Corporations Pile Into Bond Market as Borrowing Costs Drop
    Bloomberg

    Corporations Pile Into Bond Market as Borrowing Costs Drop

    (Bloomberg) -- Floodgates have opened in the corporate bond market as issuers capitalize on some of the cheapest funding costs of the year.Credit risk premiums have been tightening as investors pour money into corporate bond funds. That’s encouraging companies to borrow, with AbbVie Inc. looking to price the year’s largest sale Tuesday, and at least 10 new deals in the junk-bond market.It all adds to a bullish outlook as recession fears have abated amid stronger economic data and progress in U.S.-China trade talks, Bank of America Corp. strategists led by Hans Mikkelsen said in a report Friday. Investors expect spreads to tighten further in the next three months, but could widen over the longer-term, the strategists said, citing a November survey.With that in mind, issuers are looking to get in now while the getting’s good. Since the Federal Reserve lowered rates for a third consecutive time last month, Treasury yields have been rising as investors perceive the cutting to be done for now. Companies may be concerned that rates are only rising from here, said Ken Monaghan, co-director of high yield at Amundi Pioneer.And with most of third-quarter earnings done, and largely better than feared, equity markets have been supportive for corporate spreads, said Nicholas Elfner, co-head of research at Breckinridge Capital Advisors.“That gives you comfort that the market is relatively healthy,” Elfner said. “There’s still good demand out there for high quality names.”Investment-grade spreads are hovering at 105 basis points over Treasuries, the lowest level since October 2018. High-yield premiums meanwhile came in 16 basis points last week alone, and should rally further alongside rising stocks and oil prices. High-grade funds have seen inflows in all but one of the last 23 weeks, and high-yield funds, with the exception of a small outflow last week, had drawn in money in the three prior weeks, according to Refinitiv Lipper.AbbVie is borrowing $30 billion to help fund its purchase of Allergan Plc -- which could catapult this week’s high-grade sales to $45 billion, double last week’s total. High-yield issuers, most of which are refinancing debt, are contributing to what will the busiest day for supply in three months.“As the cost of debt remains low, you’ll see issuers rush to beat the holiday slowdown and join the party to issue,” said Lon Erickson, a portfolio manager from Thornburg Investment Management.(Updates with AbbVie deal size in the penultimate paragraph)\--With assistance from Natalie Harrison and Elizabeth Rembert.To contact the reporter on this story: Molly Smith in New York at msmith604@bloomberg.netTo contact the editors responsible for this story: Nikolaj Gammeltoft at ngammeltoft@bloomberg.net, Christopher DeRezaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • PR Newswire

    New Positive Data for RINVOQ™ (upadacitinib) on Signs and Symptoms in Patients with Ankylosing Spondylitis Presented at 2019 ACR/ARP Annual Meeting

    - In SELECT-AXIS 1, RINVOQ™ (upadacitinib; 15 mg, once-daily) achieved the primary endpoint of ASAS40 response in adult patients with active ankylosing spondylitis (AS) at 14 weeks versus placebo - ...

  • The Zacks Analyst Blog Highlights: Toyota, Netflix, AbbVie, Gilead and Fiserv
    Zacks

    The Zacks Analyst Blog Highlights: Toyota, Netflix, AbbVie, Gilead and Fiserv

    The Zacks Analyst Blog Highlights: Toyota, Netflix, AbbVie, Gilead and Fiserv

  • AbbVie Rises 3%
    Investing.com

    AbbVie Rises 3%

    Investing.com - AbbVie (NYSE:ABBV) rose by 3.02% to trade at $88.25 by 11:54 (16:54 GMT) on Tuesday on the NYSE exchange.

  • Financial Times

    AbbVie sells $30bn of bonds to finance Allergan takeover

    AbbVie borrowed $30bn from investors clamouring for investment-grade debt, in a bond offering split across 10 different maturities from 18 months to 30 years. The deal was the biggest bond offering since the healthcare and drugstore operator CVS raised $40bn in March last year to fund its takeover of the insurer Aetna. It ranked as the fourth-largest bond sale ever completed, also trailing a $46bn offering from the brewer Anheuser-Busch InBev in 2016 and the record $49bn raised by Verizon in 2013 to buy the stake in its wireless unit it did not already own.

  • TheStreet.com

    AbbVie Eyes Up to $28 Billion Bond Sale to Finance Allergan Deal: Report

    The bond deal could become one of the largest as the North Chicago biopharma pushes ahead with plans to acquire Allergan, Bloomberg reported.

  • Top Research Reports for Toyota, Netflix & AbbVie
    Zacks

    Top Research Reports for Toyota, Netflix & AbbVie

    Top Research Reports for Toyota, Netflix & AbbVie

  • Mario Gabelli Continues to Buy AbbVie, Axalta
    GuruFocus.com

    Mario Gabelli Continues to Buy AbbVie, Axalta

    9 High Conviction Stocks for GAMCO Investors Continue reading...

  • AbbVie Eyes Approval for Imbruvica+Rituxan in First-Line CLL
    Zacks

    AbbVie Eyes Approval for Imbruvica+Rituxan in First-Line CLL

    AbbVie (ABBV) submits a regulatory application with the FDA seeking label expansion of Imbruvica as a first-line treatment for chronic lymphocytic leukemia in combination with Roche's Rituxan.

  • Barrons.com

    Psst! Want the Secret to Picking Winning Stocks? Keep Reading.

    A new report identifies free cash flow divided by enterprise value as the best predictor of stock-price performance.

  • InvestorPlace

    10 Medical Marijuana Stocks to Cure Your Portfolio

    [Editor's note: "10 Medical Marijuana Stocks to Cure Your Portfolio" was previously published in October 2019. It has since been updated to include the most relevant information available.] Invariably, no other investment class generates as much interest and controversy as marijuana stocks. Within a generation, public sentiment toward legalization shifted dramatically from strongly opposed to mostly supportive. This is largely due to demographics, as the more progressive millennials replace older Americans in positions of influence.Additionally, marijuana stocks represent a viable economic channel that can help bridge the gap for many states' financial issues. For instance, green-friendly Colorado enjoys significant tax revenues from its botanical industry. I don't see this trend changing for the worse anytime soon, as awareness and popularity is only increasing.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOf course, cannabis isn't without its controversies. Primarily, the federal government classifies marijuana as a Schedule I drug, putting it on par with hardcore narcotics like cocaine. Thus, no matter how liberal some states become toward their agricultural ambitions, the specter of federal oversight and crackdowns keeps many entrepreneurs and businesses away.However, we have one critical exception to the rule: marijuana stocks that specialize in medicinal and therapeutic benefits. For one thing, medical cannabis mitigates the stereotypical image of potheads and general no-gooders. Plus, people experiment with pharmaceuticals all the time. Why not allow these same patients the choice for natural alternatives? * 7 Retail Stocks to Avoid for the Holidays More critically for marijuana stocks, the medicinal aspect offers the best chance for international acceptance. Currently, very few jurisdictions allow recreational weed. Given the abundance of traditional and conservative nations, a green world is unlikely. But as Thailand and South Korea demonstrated, medical cannabis is a much easier sell.As a result, you want exposure not just to marijuana stocks, but also to the therapeutic element. Here are 10 names to consider: AbbVie (ABBV)Source: Shutterstock Whenever you have a discussion about cannabis stocks, chances are, AbbVie (NYSE:ABBV) isn't the first name you think about. One of the healthcare sector's blue chips, ABBV stock has soared on its vast therapeutic pipeline.We're talking mainstream solutions for common ailments and diseases like arthritis and plaque psoriasis.Still, AbbVie maintains some botanical credibility with its Marinol therapy. A synthetic cannabis-based drug, Marinol addresses chemotherapy-related side effects, such as vomiting or nausea. In addition, it helps restore appetite among AIDS patients.Of course, you should note that Marinol isn't among AbbVie's top-selling products. Therefore, you're only getting limited exposure to cannabis with ABBV stock. But based on the extreme volatility of marijuana stocks, that isn't such a bad gig. Emerald Health Therapeutics (EMHTF)Source: Shutterstock Not that I would know, but growing cannabis allegedly isn't rocket science.With the right conditions, the right equipment and a reasonable car, anyone can grow their stash. But cultivating the plant so that it addresses specific ailments and symptoms? That takes real effort, which is where Emerald Health Therapeutics (OTCMKTS:EMHTF) comes in.Rather than just pumping out the green stuff, Emerald deliberately seeks out the strains most effective in addressing patients' needs. The company provides a wide selection of strains, which range in weight, tetrahydrocannabinol (THC) content, and cannabidiol (CBD) strength. Their impressive portfolio should lift EMHTF stock over the long run, as interest in CBD products accelerates. * 7 Retail Stocks to Avoid for the Holidays It's important to be careful with pot stocks, though. On a year-to-date basis, EMHTF stock is down 75%. While all cannabis stocks suffer volatility risk, Emerald's concentration on medicinal weed should help mitigate downside pressure. Aurora Cannabis (ACB)Source: Shutterstock I've spent a lot of time discussing Aurora Cannabis (NYSE:ACB), and I don't mean to keep double-dipping into this company. Still, I keep going back for a reason: ACB stock is an excellent play within the medical-marijuana market.A key factor in my bullishness for Aurora is its management team. In my view, they're making smart decisions through their acquisitive strategy.Rather than merely focusing on outright capacity, they're looking out over the horizon. Aurora's buyout of Whistler Medical Marijuana gave the organization significant leverage in medical cannabis due to Whistler's extensive genetics bank.Furthermore, ACB stock is a strong performer. In the beginning of the year, shares skyrocketed roughly 70% before plummeting. It's down 28% this year. The inevitable correction should be only temporary. Among marijuana stocks, Aurora is exceptionally well-positioned for sustainable growth. Cronos Group (CRON)Source: Shutterstock One of the top names among major marijuana stocks, Cronos Group (NASDAQ:CRON) naturally attracts a lot of attention. This time, though, they're attracting the wrong kind.Prior to its earnings report for the second quarter, I worried about the company's revenue target.Hit or exceed it, and management can stave off criticism, but speculators looking for a discounted price may want to put CRON stock back on their radar. After concerns about vaping safety hit the news, Cronos has shed all of this year's gains and more, as it's down nearly 24% YTD. * 7 Retail Stocks to Avoid for the Holidays Plus, Cronos has international legitimacy among medicinally focused cannabis stocks. Featuring partnerships and joint ventures across five continents, the company is ahead of the game. CannTrust (CTST)In business, even the green kind, you can't get ahead of yourself. So while lucrative opportunities exist in the international sector, CannTrust (NYSE:CTST) remains firmly committed to winning its native Canadian market.At the same time, CannTrust can't afford to ignore the rest of the world. Although Canada becoming the first G7 nation to legalize recreational weed generated headlines, our northern neighbors alone can't support this burgeoning industry.Therefore, management has focused on the growth and capacity narrative to compete effectively at home and, later, abroad.To achieve the second leg of this journey, CannTrust teamed up with Denmark's Stenocare to distribute medical cannabis products in that country.It also inked a partnership with an Australian firm for similar distribution arrangements. While it's not the most common name among marijuana stocks, CTST stock provides a risky, but viable, opportunity. Innovative Industrial Properties (IIPR)Most marijuana stocks focus on the industry's front face; namely, production. As I mentioned earlier, marijuana isn't that difficult to grow. So long as you have the green light legally, the physical barrier to entry is relatively short.But the real challenge, though, is finding a consistent source of financing. This is where Innovative Industrial Properties (NYSE:IIPR) lends a helping hand.Despite momentum toward legalization, several financial institutions shy away from cannabis ventures.Innovative Industrial plugs the gap, offering critical capital through its leaseback business model. * 7 Retail Stocks to Avoid for the Holidays Thanks to the company's tremendous utility, IIPR stock has lit up the markets. Shares are currently up more than 75% YTD. Technically, IIPR may have gotten a bit overheated. That said, I wouldn't get too greedy looking for the perfect entry point. Innovative Industrial levers a proven business model that is only increasing in relevancy. Terra Tech (TRTC)Everyone recognizes cannabis stocks for two things: their incredible potential and their equally incredible volatility. Unfortunately, stakeholders of medical-cannabis producer Terra Tech (OTCMKTS:TRTC) find themselves in the latter category.So far this year, TRTC stock is down around 53%.And the bad news doesn't end there. Terra Tech only had $1.9 million of cash at the end of Q2.So why take a bet on TRTC stock? First, its vertically integrated organization may facilitate significant efficiencies as political momentum increases. Second, I dig their leadership team. The head execs are experts in finance, which should prove beneficial in properly navigating TRTC across choppy waters. Charlotte's Web (CWBHF)Source: Shutterstock When most people look at Charlotte's Web (OTCMKTS:CWBHF), they're thinking that they missed the boat. After all, CWBHF stock jumped 78% at the beginning of this year.From the opening price this year, however, Charlotte's Web shares are down over 10%.As much as I love marijuana stocks, I'm fairly certain that this cannabis firm is due for a further pullback. But once that occurs, I wouldn't waste too much time squabbling over the granularity.Instead, I'd consider what our own Matt McCall had to say. Thanks to the popularity of CBD, Charlotte's Web's CBD-based products could be distributed across mainstream retail channels. * 7 Retail Stocks to Avoid for the Holidays Unquestionably, such an event would launch CWBHF stock into the stratosphere. Moreover, because most CBD products contain no trace of THC, they don't fall under severe federal guidelines. Therefore, don't get too greedy looking for an ideal price point when CWBHF corrects. Cannabis Science (CBIS)On paper, Cannabis Science (OTCMKTS:CBIS) represents the next evolution among cannabis stocks: pharmaceutical firms that devote their time and research exclusively toward medical marijuana.Not only that, this is a much-needed development that could lift CBIS stock, as well as the entire botanical industry.For decades, people unquestionably trusted the mainstream healthcare and pharmaceutical network.However, the rapidly escalating opioid crisis has proven that well-intentioned medical professionals can lever a tragic impact. One of the underlying causes of this crisis is the addictiveness of prescribed medicines.Organizations like Cannabis Science can potentially mitigate this situation with naturally sourced therapies free of psychoactive side-effects. That's the allure of CBIS stock. However, shares trade for $0.0049 cents a pop, so this is only for the risk-tolerant. GW Pharmaceuticals (GWPH)Source: Shutterstock On a surface level, GW Pharmaceuticals (NASDAQ:GWPH) brings a lot of positives to the table. As pioneers among medicinally-concentrated marijuana stocks, they lever substantial credibility.Their Sativex drug for addressing symptoms associated with multiple sclerosis achieved better-than-expected results. This only encourages other companies to pursue cannabis-based therapies for many other diseases. * 7 Retail Stocks to Avoid for the Holidays As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Sell Before They Roll Over * 5 Beaten-Up Stocks to Buy That Could Be Saved By An Acquisition * 4 Startup Stocks Getting Smashed The post 10 Medical Marijuana Stocks to Cure Your Portfolio appeared first on InvestorPlace.

  • PR Newswire

    AbbVie Submits Supplemental New Drug Application to U.S. FDA For IMBRUVICA® (ibrutinib) in Combination with Rituximab for the Treatment of Previously Untreated, Younger Adults with Chronic Lymphocytic Leukemia

    - Application is being reviewed under the FDA's Real-Time Oncology Review pilot program - Submission is based on positive results from the Phase 3 E1912 clinical trial, which showed significantly improved ...

  • PR Newswire

    AbbVie Announces Results of Early Participation in Exchange Offers and Consent Solicitations for Allergan Notes

    NORTH CHICAGO, Ill. , Nov. 7, 2019 /PRNewswire/ -- AbbVie Inc. (NYSE:ABBV) ("AbbVie") announced today that the requisite number of consents have been received to adopt certain proposed amendments ...

  • Zacks.com featured highlights include: Group 1 Automotive, AbbVie, Brinker International, Hewlett Packard Enterprise and Bristol-Myers Squibb
    Zacks

    Zacks.com featured highlights include: Group 1 Automotive, AbbVie, Brinker International, Hewlett Packard Enterprise and Bristol-Myers Squibb

    Zacks.com featured highlights include: Group 1 Automotive, AbbVie, Brinker International, Hewlett Packard Enterprise and Bristol-Myers Squibb

  • Moody's

    AbbVie Inc. -- Moody's assigns Baa2 to AbbVie's new sr. notes; stable outlook

    Moody's Investors Service ("Moody's") assigned a Baa2 rating to AbbVie Inc.'s ("AbbVie") new senior unsecured note offering. There are no changes to AbbVie's existing ratings including the Baa2 senior unsecured long-term rating or the Prime-2 short-term rating, and the outlook remains stable. Proceeds of the offering are to fund the cash portion of AbbVie's pending acquisition of Allergan plc ("Allergan") and for general corporate purposes.

  • PR Newswire

    AbbVie Announces Launch of Private Offering of Senior Unsecured Notes

    NORTH CHICAGO, Ill., Nov. 6, 2019 /PRNewswire/ -- AbbVie Inc. (ABBV) ("AbbVie") announced today that it has launched a private offering (the "Offering") of senior unsecured notes (the "Notes"). The Offering is being conducted in connection with AbbVie's previously announced acquisition (the "Acquisition") of Allergan plc ("Allergan"). AbbVie expects to use the net proceeds from the Offering to fund a portion of the aggregate cash consideration due to Allergan shareholders in connection with the Acquisition and to pay related fees and expenses, with any remaining net proceeds being used for general corporate purposes.

  • Should You Worry About AbbVie Inc.'s (NYSE:ABBV) CEO Pay Cheque?
    Simply Wall St.

    Should You Worry About AbbVie Inc.'s (NYSE:ABBV) CEO Pay Cheque?

    Rick Gonzalez has been the CEO of AbbVie Inc. (NYSE:ABBV) since 2012. First, this article will compare CEO...

  • Vanguard Health Care Fund Sells Out of Allergan
    GuruFocus.com

    Vanguard Health Care Fund Sells Out of Allergan

    Fund makes few buys, sells out of its second-largest holding Continue reading...

  • Allergan (AGN) Meets Q3 Earnings Estimates, Ups '19 Sales View
    Zacks

    Allergan (AGN) Meets Q3 Earnings Estimates, Ups '19 Sales View

    Botox, Juveederm fillers, Vraylar drive Allergan's (AGN) third-quarter sales, making up for loss of exclusivity on some brands and lower sales of eye drug, Restasis.

  • Benzinga

    Allergan's Q3 Sales Get A Facelift From Botox; AbbVie Deal On Track

    Botox maker Allergan plc (NYSE: AGN ), which has agreed to be bought by AbbVie Inc (NYSE: ABBV ) for $63 billion, reported Tuesday ahead of the open with higher third-quarter revenue and an adjusted loss ...

  • The Zacks Analyst Blog Highlights: Group 1 Automotive, AbbVie, Brinker International, Hewlett Packard and Bristol-Myers Squibb
    Zacks

    The Zacks Analyst Blog Highlights: Group 1 Automotive, AbbVie, Brinker International, Hewlett Packard and Bristol-Myers Squibb

    The Zacks Analyst Blog Highlights: Group 1 Automotive, AbbVie, Brinker International, Hewlett Packard and Bristol-Myers Squibb

  • AbbVie Stock Is Poised To Become A Top 5 Pharma — But Should You Buy It?
    Investor's Business Daily

    AbbVie Stock Is Poised To Become A Top 5 Pharma — But Should You Buy It?

    AbbVie stock fell on its $63 billion plan to acquire Botox-maker Allergan, which helps the pharmaceutical company diversify as Humira patents expire. So, is ABBV stock a buy right now?