Goldman Sachs Downgrades Medicis (MRX) to Neutral; Limited Upside From Deal Now
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Market Wrap: U.S. Manufacturing on the Ropes; One Week Until iPhone; Parcel Shippers Pinched
September 4, 2012 5:41 PM EDTMarket wrap-up for September 4th
End of the Day: Dow Jones down 54.9 to 13,035.94; S&P 500 down 1.6 to 1,404.94; Nasdaq up 8.1 to 3,075.06
The following is a brief summary of events moving markets today:U.S. manufacturing continues hitting road block: ISM reported its Manufacutring PMI in August slowed to 49.6, its lowest reading since July 2009.
Coupled with dire... More
Barclays on Medicis (MRX)/Valeant (VRX) Deal: Surprise...or Not Really?
September 4, 2012 3:22 PM EDTBarclays maintains an 'Equalweight' on Medicis (NYSE: MRX) price target of $35.00.
Analyst, Douglas D. Tsao, said, "The timing comes as a surprise, but Valeant's (NYSE: VRX) interest does not. The Wall Street Journal reported in August 2011 that... More
Piper Jaffray Downgrades Medicis (MRX) to Neutral after Takeover
September 4, 2012 1:30 PM EDTPiper Jaffray downgraded Medicis (NYSE: MRX) from Overweight to Neutral following the recent takeover.
For an analyst ratings summary and ratings history on Medicis click here. For more ratings news on Medicis click here.
Shares of Medicis closed at $31.56 yesterday, with a 52 week range of $29.76-$40.10.... More
RBC Capital Downgrades Medicis (MRX) to Sector Perform
September 4, 2012 1:23 PM EDTRBC Capital downgraded Medicis (NYSE: MRX) from Outperform to Sector Perform following the recent takeover of the company.
For an analyst ratings summary and ratings history on Medicis click here. For more ratings news on Medicis click here.
Shares of Medicis closed at $31.56 yesterday, with a 52 week range of $29.76-$40.10.... More
Valeant (VRX) to Acquire Medicis (MRX) to $44/Share; Deal Valued at $2.6B
September 4, 2012 6:29 AM EDTValeant Pharmaceuticals International, Inc. (NYSE: VRX: VRX) and Medicis Pharmaceutical Corporation (NYSE: MRX) entered into a definitive agreement under which Valeant will acquire all of the outstanding common stock of Medicis for $44.00 per share in cash.
The transaction, which values Medicis' common stock at approximately $2.6 billion, was unanimously approved by the Boards of Directors of both... More
