What’s been lighting a fire under Forest Laboratories?
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Bryce is a sporadic Alphaville contributor and has been the FT’s UK equities reporter since 2008. Before that he wrote about UK equities at Morningstar. Before that he wrote about UK equities at The Times. Before that he wrote about UK equities at Bloomberg. Before that he wrote about UK equities at AFX News. Before that he did not write about UK equities.
What’s been lighting a fire under Forest Laboratories?
Bloomberg News prides itself on market-moving scoops. Today its reporters excelled themselves, getting Citigroup’s Q3 earnings out a full 29 minutes before they were due.
Blackberry’s logo (below) resembles nothing as much as a hail of seven silver bullets. It appears the gun has been pointing the wrong way.
Today marked the rarest of events: a Vodafone statement that directly references its joint venture partner.
The last time we had a mention of Verizon Communications outside the boilerplate on a Vodafone stock market announcement was back in 2007, when Arun Sarin was bounced (by this blog) into denying the existence of Project Vulture. It seems that Verizon, like Lord Voldemort, shall not be named. Read more
Friday afternoon RAW klaxon. Buyer beware. Usual wealth warnings apply.
So here’s the bad news.
RNS, the newswire used by most U.K. companies to distribute time-sensitive press releases, will require anyone wishing to receive announcements in real-time must register before Feb. 1, 2013. Anyone who fails to register will receive the press announcements after a 60-minute delay. There is no cost at this time to register.
So the LSE had a technical b0rk this morning, which clogged the Regulatory News Service out for more than 90 minutes. The silo of corporate news was finally released at 8:37am.
No harm done though, right? Market integrity intact? Possibly not. Read more
Paging Dr Mike Lynch. Your patient seems to be suffering some nasty post-op complications.
Fourth quarter and full year fiscal 2012 results include a non-cash goodwill and intangible asset impairment charge of $8.8 billion relating to the Autonomy business within the Software segment.
Big news in RAW sewage this Saturday evening.
PARIS | Sat Oct 20, 2012 8:33pm BST (Reuters) – Veolia Environnement and Suez Environnement said on Saturday they were not working on a merger after Le Monde newspaper reported the two companies had held talks that fell apart over antitrust concerns. Read more
The exact time of death can be recorded as 1:01pm BST. But, really, the pulse was lost long ago.
BAE Systems and EADS announced that they have decided to terminate their discussions. So should we blame another breakdown in eurozone relations? Or maybe, just maybe, BEADS wasn’t a merger worth saving. Read more
Pascal Soriot doesn’t start as AstraZeneca’s new CEO until Monday, yet everyone seems to know what he should do first: go shopping.
The problems soon to be faced by the former Genentech CEO are well known. AstraZeneca is heading towards the steepest of patent cliffs and has so far failed to find anything in the R&D labs that might cushion its fall. Drugs losing US patent protection by 2015 account for a more than a fifth of its sales, rising to nearly a third of sales by 2019. Recent launches of diabetes and heart disease pills have fallen short and what’s in the late-stage pipeline (arthritis, constipation and gout, since you ask) is considered quite likely to fail. Read more
It’s been a lively few weeks for Monster Worldwide, the recruitment website.
For a company that’s been for sale since February, that’s quite a move. BofA Merrill Lynch and Stone Key Partners have been courting buyers for the past six months and final-round bids went in this week, according to Dealreporter (subscription required). Read more
Remember Friday afternoon RAW? Well, this is most definitely Friday afternoon RAW. Please read the disclaimer carefully.
“Live by the sword, die by the sword” does not translate into Kurdish, it seems.
Gulf Keystone Petroleum Ltd. (AIM: GKP) Read more
Sensational “news” via the Daily Express, which for the avoidance of doubt is a British national newspaper.
We don’t know. That’s the first thing to make clear.
In the hotel bars of Mayfair, not knowing what’s happening with PPR would appear to put us in the minority. Every quiet conversation of late has revolved around the Paris-based company, which owns Gucci Group along with a few retail and sportswear businesses that no-one seems to value much. Read more
@Macadam: by clicking on the words you quoted, you'll find that they form a link. Another link can be found in the section called "related links".Comment on: Premature dissemination, Bloomberg style
@a_spectator: it's a lovely conspiracy theory but, unless I'm missing something crucial, there doesn't seem to be much evidence for it. There are only five trades on the tape from between when the Canada line was suspended and the clarified (!) statement, all for relatively piddling amounts. Throughout that period, the advertised spread moved from £11.30/£11.75 to £11.50/£11.75. (It then closed at £11.30/£11.75.) And GS, as far as I can see, don't make a market in the London line. The burnt fingers you mention seem to be largely theoretical.Comment on: Coastal Energy, the oil and knickers-in-twist combine...
@reviedon: when you start clicking on more adverts, I'll start writing posts at 7.45am.Comment on: Vodamort and the Chamber of Secrets
@taxgift45: ML's back next week, once August is out of the way.Comment on: What is the value of unique?
@Marton: how many Microsoft Zunes can I buy with a -1.95% annualised return?Comment on: Ballmer at Microsoft: an annotated shareprice
@Fuddynuts: journalists don't trade. You can read the FT's code of practice here: http://aboutus.ft.com/corporate-responsibility/code-of-practice/
For a reasonable primer on M&A, you can do worse than read Investopedia: http://www.investopedia.com/terms/t/takeover.aspComment on: Bidders said to circle Zoltek
@Blocker: you're perhaps missing that Quinpario's effectively an activist hedge fund. The $150m raised on Friday is not the total of its resources.Comment on: Bidders said to circle Zoltek
The dull answer is that they've bought a job lot of mugshots from Getty. Here, for instance, is the FCA's Gabriel (maybe) working on GABRIEL. http://www.fca.org.uk/firms/systems-reporting/gabriel ...
And here's "young woman using computer in office" on Getty Images: http://www.gettyimages.co.uk/detail/photo/young-woman-using-computer-in-office-high-res-stock-photography/158808459
Of course, it's not for us to speculate why the /actual/ staff of the FCA are so keen to remain anonymous that they must hire ringers and stooges to decorate the website.Comment on: Who the hell is this man? (Hint: think CRD IV)
Wimbledon sexism row as Rehn/Dombrovskis win women's doubles finalComment on: Caption this -- lat there be euros edition
@Anthrax: hit escape to stop them animating.
(Sent from my phone, which has a more reliable Internet connection than the FT's multi-dozen pound IT infrastructure.)Comment on: Markets Live: Thursday, 4th July, 2013