Diamonds and Dogs
Teva Pharmaceutical Industries (TEVA)
Teva Pharmaceutical is up 14% today to a new 52-week high after announcing this morning that it would acquire the generics business of Allergan. This deal is for $40.5 billion, giving Allergan $33.75 billion in cash and shares of Teva valued at $6.75 billion. Teva expects a double-digit increase in EPS (non-GAAP) in 2016, and savings of $1.4 billion. The company is finding ways to make its company even more attractive to investors, even during a time of uncertainty.
Republic Airways (RJET)
Republic Airways' share price tumbled 52% after publicizing preliminary results for their second fiscal quarter. The company stated that they expect earnings of 8 cents to 10 cents a share, 18 cents less than previous analyst estimates. Revenues are also projected to drop $10 million compared to analyst estimates, meaning the company is struggling to keep up with expected rates of growth. Republic Airways has been getting crushed recently, and today's share price of $4.04 is a new 52-week low
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