Acquisition-hungry Valeant Pharmaceuticals (VRX) rose more than 5% in the stock market today to a record high, despite weak Q3 earnings guidance, after neatly stepping over analysts’ second-quarter revenue and earnings expectations. Valeant was one of several drugmakers and biotechs to report Thursday morning, including Celgene (CELG), Eli Lilly (LLY), Shire (SHPG) and Bristol-Myers Squibb (BMY) . The Laval, Quebec-based drugmaker said total
Earnings season is now in high gear, with all eyes on Apple’s (AAPL) report Tuesday. While the iPhone maker should deliver another quarter of solid profit and sales growth, Apple isn’t on the IBD 50 list of the very best stocks. In the coming week, eight companies from the elite IBD 50 are on tap to report earnings: Starbucks (SBUX), Alaska Air (ALK), Manhattan Associates (MANH), Illumina (ILMN), Celgene (CELG), Valeant Pharmaceuticals (VRX),
Shares of Zoetis (ZTS) on Friday more than erased all of Thursday’s 11.4% surge on talk that Valeant was eyeing the animal-health company. Zoetis shares plummeted 12.2% to 48.62 in the stock market today. Activist investor Bill Ackman’s hedge fund, Pershing Square, is the company’s largest shareholder, with an 8.5% stake. Valeant Pharmaceuticals (VRX) reportedly made a preliminary approach to acquire the animal-health company, said the Wall Street