Biogen (BIIB) Approves $5B Stock Buyback Program
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Biogen's (BIIB) Big Moves Signal Future Sale
July 21, 2016 1:11 PM EDTBiogen (NASDAQ: BIIB) made a number of key changes Thursday and that has investors thinking a takeover could be in the company's future. The speculation has shares up over 7%.
First, Biogen announced that long-time CEO, George Scangos, is stepping down. Also, major... More
Biogen (BIIB) Announces 3 Major Changes to Get the Stock Moving Higher - BMO Capital
July 21, 2016 8:44 AM EDTBMO Capital analyst M. Ian Somaiya weighed in on Biogen (NASDAQ: BIIB) noting 3 major change were announced this morning to get the stock moving higher:
1) departure of CEO, George Scangos,
2) major cost cutting initiatives that led to 2016 non-GAAP EPS guidance being raised to $19.70-20.00 from... More
Scangos Retirement May Be Precursor to Big M&A Plans at Biogen (BIIB) - Leerink
July 21, 2016 8:24 AM EDTLeerink Partners analyst Geoffrey Porges weighed in on Biogen (NASDAQ: BIIB) after the company reported earnings, announced a $5bn share buyback as well as the retirement of CEO George Scangos.
"We expect BIIBs stock to be modestly higher following these results, but... More
Biogen (BIIB) Tops Q2 EPS by 53c; CEO Scangos to Step Down
July 21, 2016 7:00 AM EDT(Updated - July 21, 2016 7:02 AM EDT)
Biogen (NASDAQ: BIIB) reported Q2 EPS of $5.21, $0.53 better than the analyst estimate of $4.68. Revenue for the quarter came in at $2.89 billion versus the consensus estimate of $2.79 billion.
Buyback Plan:
Biogen also announced that its Board of Directors authorized a program to repurchase up to $5 billion of the Companys common stock. Biogen currently expects that purchases will be executed over the next three years. This share repurchase program is in addition to the approximately 1.3 million shares remaining under Biogen's February 2011 share repurchase... More
Trading Radar for 7/21: GM (GM), Chipotle (CMG), AMD (AMD), Starbucks (SBUX), Pandora (P), Visa (V), Travelers (TRV) Report
July 20, 2016 2:39 PM EDTThe Trading Radar highlights key earnings and economic announcements for the next trading session:
Before Markets Open:
Economics:
8:30am EDT
9:00am EDT
FHFA Housing Price Index - no Street consensusEarnings:
ABB Ltd. (NYSE: ABB) - consensus EPS $0.26
Adeptus Health (NYSE: ADPT) - consensus EPS $0.51
Alaska Air Group (NYSE: ALK) - consensus EPS $2.07... More
