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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

4/22/14

Allergan Inc. (AGN)

Allergan Inc. is skyrocketing today, up 15.15% to $163.51. The healthcare company saw its shares pop after news that Valeant Pharmaceuticals offered to buy Allergan. The offer that Valeant made was for $48.30 in cash and 0.83 shares of Valeant common stock in exchange for each share of Allergan. The offer values Allergan shares at around $159 per share, and is a significant premium to Allergan's closing price on Monday. Shares of the company jumped more than $21.00 today, setting a new intraday high of $165.45.

Lexmark International Inc. (LXK)

Lexmark is crashing and burning today, down 11.25% to $41.51. The printing, imaging, and document workflow Company saw its shares fall after weaker than expected forward guidance. Lexmark stated that revenue for the current quarter is expected to decline 2% to 4% from last year, which should result in adjusted earnings of $0.85 per share to $0.95 per share. Analysts, on average, were looking for second-quarter earnings of $0.94 per share. The lowered guidance led shares to fall over $5.00, however shares are still well above their 52-week low of $26.00.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.