What a market! Allergan plc (AGN) is getting absolutely KILLED in after hours trading. Not sure I remember such a big down move in a big cap pharma since the recent declines in Valeant. Allergan is currently down about 21 percent to $219.90 in after hours trading on news that the Treasury plans to crack down on tax inversions. The announcement could be aimed at preventing transactions like the Pfizer bid to acquire Allergan (announced in November 2015), which many believe is being done largely for tax purposes. On the other hand, shares of Pfizer are up about 2.3 percent in after hours sessions. Allergan is not mentioned by name but sometimes these matters are obvious. Anyway, we will have much more on the topic tomorrow for now see below.
Allergan plc bloody Monday
This year has been a record-breaking year for initial public offerings with companies going public via SPAC mergers, direct listings and standard IPOS. At Techlive this week, Jack Cassel of Nasdaq and A.J. Murphy of Standard Industries joined Willem Marx of The Wall Street Journal and Barron's Group to talk about companies and trends in Read More