Acquisition Move Brings Good News to Allergan Investors

Acquisition Move Brings Good News to Allergan Investors

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

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.

Canyon Distressed Opportunity Fund likes the backdrop for credit

CanyonThe Canyon Distressed Opportunity Fund III held its final closing on Jan. 1 with total commitments of $1.46 billion, calling half of its capital commitments so far. Canyon has about $26 billion in assets under management now. Q4 2020 hedge fund letters, conferences and more Positive backdrop for credit funds In their fourth-quarter letter to Read More

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. 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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