Posts Tagged ‘AMLN’

Amylin Pharmaceuticals, Inc. (AMLN) soars on news of rejection of Bristol-Myers takeover bid

Wednesday, March 28th, 2012

Shares of diabetes drug maker Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) were up more than 50 percent from Tuesday’s closing price in morning trading on Wednesday after Bloomberg reported that Amylin rebuffed an unsolicited takeover bid from pharma giant Bristol-Myers Squib Co. (NYSE: BMY) for $3.5 billion, or $22 a share.

According to data provided by Yahoo Finance, shares of AMLN touched a high of $23.50 on Wednesday, up from Tuesday’s closing price of $15.39.

Reuters reported that Amylin has been considered a possible takeover target for quite some time. Spokeswomen for Bristol-Myers and Amylin refused to comment, Reuters reported.

Bristol Myers Squibb BMY“Bristol as an acquirer makes sense,” Robyn Karnauskas, an analyst with Deutsche Bank in New York, wrote in a note to clients today, Bloomberg reported. “Amylin could be worth up to $31 a share based on expense synergies. However, Bristol is financially disciplined.”

There have been 16 acquisitions more than $1 billion of biotech companies in Amylin’s peer group in the past five years, according to data compiled by Bloomberg. The average disclosed size was $8 billion, with an average premium of 35 percent, the Bloomberg data show.


Top Buzz Stock Gainers (SIMG, NBR, AMLN, CML)

Wednesday, October 27th, 2010

Silicon Image, Inc. (NasdaqGS: SIMG) Stocks of SIMG are currently trading at $6.29 on massive volume, up more than 38 percent from Tuesday’s closing price of $4.55 SIMG is racing to two-year highs on reported third-quarter sales of $60.5 million, 20% stronger than analyst expectations and  more than three times expected earnings.

Nabors Industries, Inc. (NYSE: NBR) Shares of Bermuda-based Nabors were up 5.02 percent at $20.42, after the company reported a 29-cent per share quarterly profit, which beat Street estimates by 6 cents. Nabors’ revenue of $1.08 billion also came in ahead of the forecast of $963 million. The stock is still down 7 percent so far in 2010.

Amylin Pharmaceuticals, Inc.(Nasdaq: AMLN) soared 11.3 percent to a high of $13.36, on more than four times average volume. Shares skyrocketed after the maker of the diabetes treatment Byetta was raised to “outperform” from “market perform” at Leerink Swann & Co.

Compellent Technologies Inc. (NYSE: CML) Volume skyrocketed to 6.5 million today as shares touched on a 52-week high of $26.44, representing a 32 percent increase over previous day close of $19.70. Compellent Technologies, which sells data storage to large businesses, surged after beating Wall Street expectations in the third quarter, and amid rumors of an acquisition by computer maker Dell Inc.