Acquisition Move Brings Good News to Allergan Investors

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Acquisition Move Brings Good News to Allergan Investors

Today’s midday gainers are Allergan, Inc. (NYSE:AGN), BioDelivery Sciences International, Inc. (NASDAQ:BDSI) and 58.com Inc (ADR) (NYSE:WUBA). The losers are Pentair, Ltd. (NYSE:PNR), International Tower Hill Mines Ltd (NYSEMKT:THM) and Nimble Storage Inc (NYSE:NMBL).

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Allergan Surges

Jumping +16.08% is biotech firm Allergan, Inc. (NYSE:AGN). The surges comes as the result of a move by Valeant Pharmaceuticals and Bill Ackman’s Pershing Square to acquire the Botox maker through a $45 million deal. George Soros, Ray Dalio and Richard Chilton join Ackman as shareholders.

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Drug maker BioDelivery Sciences International, Inc. (NASDAQ:BDSI) takes the second spot on our list of midday gainers. Its stock price increased +11.44% on hopes that of FDA approval for its latest drug application. Tiger Global Management has a stake in BDSI.

58.com Inc (ADR) (NYSE:WUBA) surged +10.43%. Also a Tiger Global pick, the Chinese online marketplace has had a volatile couple of weeks. It’s up +24.78% YTD.

International Tower Hill Mines Continues to Drop

Pentair, Ltd. (NYSE:PNR) is the biggest midday loser this Tuesday. Its price dipped -5.75% after missed analysts’ expectations for Q1 revenues and profits. David Tepper has a position in Pentair.

Mining company and John Paulson holding International Tower Hill Mines Ltd (NYSEMKT:THM) posted a -4.55% loss midday today. Its price has fallen -43.10% since March 18th but is still up +60.98% YTD.

Last up is Nimble Storage Inc (NYSE:NMBL). DA Davidson downgraded the company’s rating to underporn, sending its stock price down -4.40%. Nimble, part of the Tiger Global portfolio, has slipped -25.98% YTD.

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