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Pfizer To Buy Anacor For $99.25 Per Share In Cash For Transaction Value Of $5.2b
Pfizer (PFE) and Anacor Pharmaceuticals (ANAC) announced that they have entered into a definitive merger agreement under which Pfizer will acquire Anacor for $99.25 per Anacor share, in cash, for a total transaction value, net of cash, of approximately $5.2B, which assumes the conversion of Anacor’s outstanding convertible notes. The boards of both companies have unanimously approved the transaction. Anacor’s flagship asset, crisaborole, a differentiated non-steroidal topical PDE4 inhibitor with anti-inflammatory properties, is currently under review by the U.S. FDA for the treatment of mild-to-moderate atopic dermatitis, commonly... -
Finance 0
EUR/USD, GBP/USD Break Of Support Lines Verify ABC Zigzags
EUR/USD 4 hour The EUR/USD broke below the long-term support trend line (green), which could be explained via a continuation of wave C (blue) or alternatively a wave 3 if price expands below the 161.8% Fibonacci target. 1 hour The EUR/USD broke below the support trend line (dotted green) and made a bearish breakout. The bullish corrections have been weak so far which makes a wave 4 (orange) likely unless price breaks above the 61.8% Fibonacci level of wave 4 vs 3. GBP/USD 4 hour The GBP/USD broke one of the long-term support trend lines (dotted green) and confirms a downtrend continuation. The ABC could also turn out to be a 123 if price can ... -
Finance 0
Australian Dollar Edges Lower Amid Wheat Belt Sowing Season
With Australia’s wheat sowing season well under way,[1] investors are paying more attention to the value of the Australian dollar. A weaker Aussie has helped support the nation’s export economy, which accounts for roughly 21% of gross domestic product.[2] With Australian growth shifting into lower gear, the agricultural sector will be looked upon to provide stability later this year when the harvesting period begins. Australia’s Wheatbelt: A Massive Industry Australia’s agricultural sector is a $155 billion industry that directly employs more than 300,000 people. When indirect employment is factored, total employment is estimated to b... -
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Monday Against Friday
Yesterday’s Trading: The euro closed down against the USD on Friday. The price dropped to 1.1282 due to positive US stats. Consumer confidence and retail sales were better than expected. The Reuters/Michigan consumer confidence index stood at 95.8 against a forecasted 90.0 and 89.0 in April. Retail sales showed an unexpected growth of 1.3% in comparison with a -0.3% fall in March and only a 0.8% rise forecasted. Market Expectations: I always consider movements against that of Friday on a Monday and I never look at the news. I think that the best thing for today would be a correction to 1.1335. If the euro restores to here, on Wednesday we c... -
Finance 0
Binary Options Assets In Focus – 5/16/2016
The USD/CHF pair is trading upwards close to resistance level at 0.9800. The last session the pair showed strength. However there is a possibility for the pair to trade lower than the support level at 0.9700, where in this case put buyers might enter the market. Apple (AAPL): Falls. The share fell during the session of Friday, breaking below the supportive area at 92.00. It would not be surprising for the pair to continue to this direction. On the other hand, a reversal move perhaps will give opportunities for call buyers. Crude Oil: Testing the April’s top. The “black gold” looks much stronger, and in fact is testing the 29th Ap... -
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Uncomfortable Truths About Banking And Money
Most people like their truth palatable, easy to digest, and believable.Unfortunately for our emotional needs, some truths are uncomfortable, unsettling, and difficult. Regarding the United States, the U.K., Europe, and Japan IT IS COMFORTING TO BELIEVE: Debt has increased exponentially for decades, and in the case of the US, for over 100 years. It has worked so far, so we want to believe it will continue for the foreseeable future. Our governments act as if they believe we can borrow ourselves out of debt, spend our way into prosperity, and pretend and extend indefinitely. Every major country has a central bank, so it is comforting to believ... -
Finance 0
E Pfizer Buys Anacor Pharma For $5.2B
Today Pfizer (PFE) announced that it would acquire Anacor Pharmaceuticals (ANAC) for $5.2 billion. In other words Pfizer is buying the company for $99.25 per share. At the time of the announcement, ANAC was trading in the mid-$60s. Pfizer bought the company for its main drug candidate known as crisaborole, which is a non-steroid type topical gel. It is currently under review by the FDA for the treatment of patients with mild to moderate atopic dermatitis — eczema. The PDUFA date when the FDA will decide whether or not to approve crisaborole is January 7, 2017. Considering the strong safety and efficacy profile of the drug it should ha... -
Finance 0
Will A US Rate Hike Affect The National Debt?
With all the hype surrounding the current presidential candidates and what they can and cannot offer the American citizens, hardly a word has been said about the existing national debt. Standing at a walloping $19.3 trillion, the U.S. deficit is currently four times larger, adjusting for inflation, than when Ronald Reagan bemoaned its size in his 1989 farewell address. America’s national debt now totals about 105% of GDP, roughly twice the size of the economy it has been any time in the past. It is easy for Americans to ignore any signals of a possible fiscal crisis which could call this debt into question and choose instead to overlook the... -
Finance 0
Apparently Everyone Hates Stocks
This is probably one of the more interesting times in recent memory for the stock market.Investors are so panicked about the possibility of a recession, bear market, or even just a simple correction that they are exiting funds at a breakneck pace. Bank of America fund flow data showed that $44 billion has exited stock-focused ETFs and mutual funds over the last five weeks.This is the largest period of redemptions since August 2011, which should tell you something about sentiment and perceived direction.Take a look at the complete workup on fund flows by Barbara Kollmeyer of Marketwatch. Knowing nothing more than that data, you would probabl... -
Finance 0
Futures Flat Despite China Scare As Oil Rebounds Over $47
The main risk over the weekend was that markets, which have now dropped for three consecutive weeks the longest negative streak since January, would focus their attention on the latest batch of negative Chinese economic news released over the weekend, which missed expectations across the board, most prominently in Retail Sales (10.1% vs. Exp. 10.6%, down from 10.5%) and Industrial Production (6.0% vs. Exp. 6.5% down from 6.8%), and following Friday’s disappointing new credit loan data, would sell off as the Chinese slowdown once again becomes a dominant concern. However, after some initial weakness, the risks were all but gone when firs...
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