Breaking News Instant updates and real-time market news.

ARLZ

Aralez

$0.34

0.0411 (13.69%)

06:12
08/10/18
08/10
06:12
08/10/18
06:12

Aralez enters two purchase agreements worth $250M to sell almost all assets

Aralez announced that it intends to enter into purchase agreements with two separate stalking-horse purchasers to sell its main operating businesses: an agreement to sell its Vimovo royalties and Canadian operations to Nuvo Pharmaceuticals in a transaction valued at $110M and an agreement to sell its Toprol-XL franchise to its secured lender, certain funds managed by Deerfield Management, in a transaction valued at $140M. The company is also engaged in ongoing efforts to sell the assets not being sold in either of the proposed transactions and intends to wind down its operations following the consummation of the sales. The letters of intent signed with each of Nuvo and the company's secured lender included the material terms of each of the proposed transactions. Each proposed transaction is subject to entry into mutually agreeable definitive agreements, and in the case of Nuvo, obtaining committed financing, which is expected to be provided by the company's secured lender. Aralez has agreed to negotiate exclusively with Nuvo until August 19. Closing of each proposed transaction is subject to the receipt of applicable regulatory approvals and the satisfaction or waiver of other customary closing conditions. The proposed transactions are not conditioned on one another and will be subject to approval by the applicable courts supervising the restructuring proceedings described below. Aralez, together with its subsidiaries, intends to seek and obtain customary relief from the courts to permit it to continue to operate its business in the ordinary course without interruption during the sale process. In addition, Aralez has obtained commitments for debtor-in-possession, or DIP, financing of approximately $15M, from its secured lender, which is subject to approval of the courts. The company intends to use the proceeds from the DIP financing, in addition to cash flow from operations, to pay for all goods and services from vendors provided after the CCAA and Chapter 11 filing date in accordance with their current terms. In addition, the company and its subsidiaries have filed a number of customary pleadings seeking authorization from the courts to pay certain pre-petition obligations, support their business operations and transition them through the restructuring proceedings and the sale process. These include the payment of employee wages, salaries and benefits, and certain obligations to vendors. The sales and restructuring proceedings are the culmination of a previously announced financial and strategic review undertaken by the board of directors of the company. While the company continued to address and improve its financial profile through several cost savings initiatives, corporate restructurings and the payment In kind deferral of its July 1 interest payment until August 15, it became increasingly apparent during the course of the board's financial and strategic review, that absent the legal protection afforded through the restructuring proceedings, the company's cash position would continue to deteriorate. Following completion of the board's strategic review, after careful consideration of all available alternatives and having given due consideration to the interests of all stakeholders, the boards of directors of the company and each of its North American and Irish subsidiaries, with the assistance, input and advice from legal and financial advisors, have unanimously determined that a sale process under court supervision is in the best interests of the companies. Rob Harris, a director of the company, abstained from voting on these matters due to a potential conflict of interest relating to the ongoing sale process. In connection with the filing and to facilitate the administration of the restructuring proceedings more efficiently, the size of the board has been reduced to four members.

ARLZ Aralez
$0.34

0.0411 (13.69%)

02/05/18
HCWC
02/05/18
INITIATION
Target $6
HCWC
Buy
Aralez initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju started Aralez Pharmaceuticals with a Buy rating and $6 price target. The analyst sees "three core advantages" for the company, namely a "broad lineup" of branded products, a "rapidly-growing" key franchise, Zontivity, and a "highly experienced" management team.

TODAY'S FREE FLY STORIES

PINC

Premier

$38.38

0.24 (0.63%)

09:15
08/20/18
08/20
09:15
08/20/18
09:15
Hot Stocks
Premier to provide operational transformation consulting to UofL Hospital, ULP »

Premier has expanded its…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 21

    Aug

  • 05

    Sep

  • 14

    Sep

OPTT

Ocean Power

$0.76

0.0501 (7.06%)

, E

Eni SpA

$36.28

0.12 (0.33%)

09:14
08/20/18
08/20
09:14
08/20/18
09:14
Hot Stocks
Ocean Power ships PB3 PowerBuoy to Eni SpA »

Ocean Power (OPTT)…

OPTT

Ocean Power

$0.76

0.0501 (7.06%)

E

Eni SpA

$36.28

0.12 (0.33%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SODA

SodaStream

$129.89

1.12 (0.87%)

, PEP

PepsiCo

$114.98

0.7 (0.61%)

09:14
08/20/18
08/20
09:14
08/20/18
09:14
Hot Stocks
Fly Intel: Pre-market Movers »

HIGHER: SodaStream…

SODA

SodaStream

$129.89

1.12 (0.87%)

PEP

PepsiCo

$114.98

0.7 (0.61%)

TSLA

Tesla

$305.33

-30.13 (-8.98%)

MIXT

MiX Telematics

$15.09

-0.17 (-1.11%)

NKE

Nike

$79.73

-0.32 (-0.40%)

BBOX

Black Box

$1.64

0.09 (5.81%)

LCI

Lannett

$13.50

-0.25 (-1.82%)

INFY

Infosys

$21.09

0.095 (0.45%)

STZ

Constellation Brands, also tag STZ.B

$203.90

1.47 (0.73%)

NWS

News Corp

$14.40

0.1 (0.70%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 20

    Aug

  • 28

    Aug

  • 12

    Sep

  • 02

    Oct

  • 28

    Oct

  • 29

    Oct

AKAO

Achaogen

$5.91

0.21 (3.68%)

09:13
08/20/18
08/20
09:13
08/20/18
09:13
Recommendations
Achaogen analyst commentary  »

Achaogen price target…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 30

    Aug

  • 31

    Aug

TSLA

Tesla

$305.33

-30.13 (-8.98%)

09:13
08/20/18
08/20
09:13
08/20/18
09:13
Recommendations
Tesla analyst commentary  »

Tesla price target cut to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 29

    Oct

RADA

RADA Electronic

$2.52

-0.02 (-0.79%)

09:11
08/20/18
08/20
09:11
08/20/18
09:11
Hot Stocks
RADA Electronic's MHR to be delivered to the British Army »

RADA Electronic announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

09:10
08/20/18
08/20
09:10
08/20/18
09:10
General news
FX Action: USD-JPY »

FX Action: USD-JPY has…

LTBR

Lightbridge

$0.87

0.004 (0.46%)

09:08
08/20/18
08/20
09:08
08/20/18
09:08
Hot Stocks
Lightbridge CFO Linda Zwobota to retire, Larry Goldman to succeed »

Lightbridge announced the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

AAPL

Apple

$217.65

4.16 (1.95%)

09:05
08/20/18
08/20
09:05
08/20/18
09:05
Downgrade
Apple rating change  »

Apple downgraded to Sell…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

09:05
08/20/18
08/20
09:05
08/20/18
09:05
General news
Treasury Action: yields have extended early declines »

Treasury Action: yields…

JCP

J.C. Penney

$1.79

0.025 (1.42%)

09:04
08/20/18
08/20
09:04
08/20/18
09:04
Hot Stocks
J.C. Penney unveils new, exclusive big & tall brand with Shaquille O'Neal »

Building on the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ICHR

Ichor Holdings

$21.32

-0.57 (-2.60%)

09:04
08/20/18
08/20
09:04
08/20/18
09:04
Hot Stocks
Ichor Holdings announces $50M increase to share repurchase program »

Ichor Holdings announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 12

    Sep

IVAC

Intevac

$5.03

0.225 (4.69%)

09:03
08/20/18
08/20
09:03
08/20/18
09:03
Hot Stocks
Intevac announces $10M expansion of existing $30M share repurchase program »

Intevac announced that…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

BXP

Boston Properties

$132.14

0.5 (0.38%)

09:02
08/20/18
08/20
09:02
08/20/18
09:02
Recommendations
Boston Properties analyst commentary  »

Boston Properties price…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

RICK

RCI Hospitality

$32.61

0.36 (1.12%)

09:02
08/20/18
08/20
09:02
08/20/18
09:02
Hot Stocks
RCI Hospitality to acquire Blush Gentlemen's Club & Sports Bar for $15M »

RCI Hospitality announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GWRE

Guidewire

$95.23

-1.47 (-1.52%)

08:58
08/20/18
08/20
08:58
08/20/18
08:58
Hot Stocks
Guidewire contributes to report on cyber insurance market »

Guidewire Software helped…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Aug

  • 12

    Sep

AAPL

Apple

$217.65

4.16 (1.95%)

, TSLA

Tesla

$305.33

-30.13 (-8.98%)

08:55
08/20/18
08/20
08:55
08/20/18
08:55
Options
Notable open interest changes for August 20th »

Friday's total…

AAPL

Apple

$217.65

4.16 (1.95%)

TSLA

Tesla

$305.33

-30.13 (-8.98%)

BABA

Alibaba

$172.76

0.78 (0.45%)

FB

Facebook

$173.78

-0.98 (-0.56%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 21

    Aug

  • 22

    Aug

  • 23

    Aug

  • 06

    Sep

  • 10

    Sep

  • 18

    Sep

  • 29

    Oct

PAY

Verifone

$23.04

0.01 (0.04%)

08:54
08/20/18
08/20
08:54
08/20/18
08:54
Hot Stocks
Breaking Hot Stocks news story on Verifone »

Verifone trading halted,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

LQDA

Liquidia Technologies

$14.30

-0.12 (-0.83%)

08:52
08/20/18
08/20
08:52
08/20/18
08:52
Initiation
Liquidia Technologies initiated  »

Liquidia Technologies…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

F

Ford

$9.56

0.04 (0.42%)

08:51
08/20/18
08/20
08:51
08/20/18
08:51
Recommendations
Ford analyst commentary  »

Ford risks high, but so…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 31

    Aug

TNDM

TNDM

, DXCM

DexCom

$130.93

2.61 (2.03%)

08:51
08/20/18
08/20
08:51
08/20/18
08:51
Recommendations
TNDM, DexCom analyst commentary  »

Tandem Diabetes price…

TNDM

TNDM

DXCM

DexCom

$130.93

2.61 (2.03%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 21

    Aug

  • 22

    Aug

  • 27

    Aug

  • 12

    Sep

  • 13

    Sep

  • 20

    Sep

  • 21

    Sep

08:50
08/20/18
08/20
08:50
08/20/18
08:50
General news
Fedspeak from Atlanta Fed dove Bostic »

Fedspeak from Atlanta Fed…

VERI

Veritone

$11.41

0.11 (0.97%)

08:49
08/20/18
08/20
08:49
08/20/18
08:49
Conference/Events
Veritone to hold a conference call »

Management discusses the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 20

    Aug

VMC

Vulcan Materials

$110.31

0.46 (0.42%)

08:47
08/20/18
08/20
08:47
08/20/18
08:47
Recommendations
Vulcan Materials analyst commentary  »

Vulcan Materials price…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 10

    Sep

  • 06

    Nov

MLCO

Melco Resorts & Entertainment

$22.08

0.56 (2.60%)

08:47
08/20/18
08/20
08:47
08/20/18
08:47
Hot Stocks
Melco Resorts & Entertainment subsidiary provides update on IPO »

Studio City International…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.