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[ September 19, 2014 | Author: Admin | Views: 21402 | Weather: | Mood: normal]

Net-lease property REIT American Realty Capital Properties (NASDAQ: ARCP  ) says that with Capital Lease Funding (NYSE: LSE  ) announcing the expiration of its 40-day “go shop” period and no other buyers being found, it plans to buy its rival sooner than originally intended. American Realty announced in May its intention to buy the rival REIT for $2.2 billion, including $580 million in assumed debt that it will repay, which it said would make it the third-largest net-lease property REIT in the U.S. based on market capitalization. CapLease had a 40-day window of opportunity to find another buyer, called the “go-shop” period, and it said it approached 44 potential bidders, and no bids were submitted. As a result, CapLease will submit the acquisition by American Realty to its shareholders and has filed with the SEC a preliminary proxy statement to that effect. Stating that 2013 has been a “transformative” year for the … Continue reading

[ September 19, 2014 | Author: Admin | Views: 61553 | Weather: | Mood: normal]

Shares of Amgen (AMGN) are falling in after-hours trading after the biotech giant announced that a drug trial had failed and it had to recall one of its drugs due to visible particulates. Steve Remich Amgen said that it had recalled prefilled syringes of Aranesp, its anemia drug, from overseas distributors. At the same time, Amgen said that its drug Kyprolis failed to meet the primary endpoint of its so-call FOCUS trial in patients with multiple myeloma, a cancer of plasma cells. Piper Jaffray’s Joshua Schimmer doesn’t understand the fuss: Investors hand-wringing over the missed endpoint and what it might mean for EU reimbursement or the increase in renal AE relative to the label miss the forest for the trees, in our view. These are small incremental factors since ASPIRE will drive the program forward and a missed trial is a missed trial; the Street expected the top line result. … Continue reading

[ September 19, 2014 | Author: Admin | Views: 30240 | Weather: | Mood: normal]

There were a lot of champs and failures this week, with a customer hardware retailer debilitating to record for chapter 11 and the main satellite radio player nearby boosting its supporter direction. Here’s a rundown of the week’s most intelligent moves and greatest bungles. RadioShack (RSH) Things are beginning to get sketchy at RadioShack. The little box retailer of cellular telephones and other customer electronic items cautioned that it could document for Chapter 11 liquidation on the off chance that it isn’t equipped to round up some more money. RadioShack is weighing a few choices with outsiders and stakeholders that incorporate new speculations, a rebuilding or a by-and-large offer of the chain. It’s not a decent place to be, particularly since smoking out a purchaser eager to pay a premium for the retailer as of right now will be a goliath challenge. Radioshack needs more than simply time and cash … Continue reading

[ September 19, 2014 | Author: Admin | Views: 25296 | Weather: | Mood: normal]

Miami, Fl.-based Opko Health (NYSE: OPK  ) took a 10% stake in Russian peer pharmaceutical firm OAO Pharmsynthez, Opko announced Thursday. Like the name sounds, Pharmsynthez is a drugmaker and, in fact, the only life sciences company currently trading on the Moscow Stock Exchange. (The “OAO” simply refers to the Russian words for “joint stock company,” the Russian designation for a public corporation). It manufactures and sells branded pharmaceutical products, primarily in Russia and the Baltics. Opko described its stake-purchase as part of a $60 million, two-stage financing project, whereby Russian state-owned corporation Russian Corporation of Nanotechnologies first invested $26.1 million in Pharmsynthez, followed by Opko’s larger investment. Going forward, Opko plans to partner with Pharmsynthez in the development and marketing of several of its own products for sale in Russia and other East European countries, specifically: CTAP101 Capsules, a vitamin D prohormone to treat secondary hyperparathyroidism in patients with stage … Continue reading

[ September 19, 2014 | Author: Admin | Views: 45100 | Weather: | Mood: normal]

Tesla (NASDAQ: TSLA) shareholders got mostly what they wanted from the company’s third quarter earnings. Perhaps what they heard from founder Elon Musk as he spoke on the earnings call was more important. There is, he said, too much demand for our cars. We don’t have the capacity to build enough of them. Unfortunately, forecasting capacity has beenan Achilles Heel of the auto industry since its inception. Musk has to hope that he can get the balance between the number of cars Tesla will sell in the next few years, and the company’s ability to build them Looking back, earnings for the third quarter show that the promise Teslasaidit woulddeliver has largely been kept, at least in the very short term. Musk is fond of non-GAAP numbers as are most people who find normal accounting procedures make their financials look bad. On a GAAP basis, revenue for the quarter was … Continue reading