• Mon, Sep. 18, 8:52 AM
    • Quidel (NASDAQ:QDEL) has amended its previously announced agreements with Alere (NYSE:ALR) to purchase its B-type Naturietic Peptide (BNP) business and Triage MeterPro cardiovascular and toxicology assets. Alere is selling the businesses to satisfy antitrust conditions in the U.S.
    • Quidel will assume direct commercial responsibility for global BNP sales on Beckman Coulter analyzers while the Triage deal will remain substantially unchanged.
    • Total actual revenue for the acquired businesses was $245M in 2016, up from $197M under the previous agreements.
    • Quidel will pay up to $680M for the assets, $400M for Triage, $40M in contingent consideration for the EEA BNP business and $240M in deferred consideration for the rest-of-world BNP business.
    • The transactions should close within 30 days of the close of the Abbott/Alere merger, expected to happen by month-end.
    • Previously: Quidel announces definitive agreement to acquire Alere Triage Assets (July 17)
    Mon, Sep. 18, 8:52 AM
  • Mon, Aug. 14, 11:16 AM
    • Sandell Asset Management updates on its Q2 hedge fund moves. The activist investor's move into Barnes & Noble has already been dramatic amid its calls for the retail chain to sell itself.
    • Top new buys: ALR, GNCMA, WFM, BCR, TWX, BABA, TIVO, PCRX, BKS.
    • Top exited positions: BOBE, WGL, CIT, VIAV.
    • Boosted stakes: MGI, NXPI, BRCD, LVLT.
    • Sources: SEC Form 13F and Bloomberg
    Mon, Aug. 14, 11:16 AM | 13 Comments
  • Thu, Aug. 3, 8:25 AM
    Thu, Aug. 3, 8:25 AM
  • Thu, Aug. 3, 7:53 AM
    • Alere (NYSE:ALR) Q2 results ($M): Revenues: 557.7 (-8.6%); Product Sales & Service: 554.7 (-8.7%).
    • Cardiometabolic: 139.8 (-16.5%); Infectious Disease: 166.5 (-12.1%); Toxicology: 159.9 (+1.1%).
    • $14M of Arriva products furnished to customers, not booked as revenue because ineligible for CMS reimbursement at the time of shipment.
    • Net Income: (98.4) (-156.9%); Non-GAAP EBITDA: 44.1 (-51.3%); EPS: (1.13) (-156.8%).
    • Related ticker: (NYSE:ABT)
    Thu, Aug. 3, 7:53 AM | 6 Comments
  • Mon, Jul. 31, 8:31 AM
    • The FDA grants 510(k) clearance for Alere (NYSE:ALR)(NYSE:ABT) unit Immunalysis' SEFRIA Fentanyl Urine Enzyme Immunoassay, the first regulatory approval for SEFRIA and the first 510(k)-cleared fentanyl enzyme immunoassay.
    • VP, Sales & Marketing Kathy Miller says, "The availability of an FDA-cleared fentanyl immunoassay enables more reference and hospital laboratories to conduct precise qualitative screening, which is a key strategy in stemming the alarming increase in misuse and abuse of fentanyl. The SEFRIA fentanyl urine drug screening test rounds out our offering of technologically advanced assays for detecting prescription and illegal drugs of abuse by providing clinicians and toxicologists with a relevant menu of FDA-cleared opiate and opioid tests."
    Mon, Jul. 31, 8:31 AM
  • Wed, Jul. 19, 7:38 AM
    • Alere (NYSE:ALR) announces the availability of its point-of-care Alere iCup Rx Drug Screen, a rapid urine test that detects five of the most commonly misused and abused prescription drugs.
    • The test enables physicians and addiction specialists to screen patients for benzodiazepines, buprenorphine, methadone, opiates and oxycodone in a clinically actionable timeframe – facilitating early detection of abuse and ensuring patient compliance with legitimately prescribed therapies.
    • The company says the Alere iCup Rx is the first rapid urine test that tests and validates five of the most clinically relevant prescription drugs at one time streamlining testing and monitoring of patients in medical and addiction management settings.
    Wed, Jul. 19, 7:38 AM
  • Fri, Jul. 7, 4:31 PM
    • In a special meeting today, shareholders in Alere (ALR +0.2%) voted to approve an amended merger deal with Abbott Laboratories (ABT +1%).
    • About 72.5% of outstanding shares (or about 63M votes) were in favor of the deal.
    • At closing, Alere shareholders will receive $51/share in cash and Alere will become an Abbott subsidiary.
    • After hours: ABT -0.2%; ALR is flat at $50.35.
    Fri, Jul. 7, 4:31 PM | 4 Comments
  • Sat, Jul. 1, 9:56 AM
    • Key events are scheduled for the companies listed below during the holiday-shortened week.
    • Notable earnings reports: PriceSmart (NASDAQ:PSMT) on July 5, Rand Logistics (NASDAQ:RLOG) on July 5, Yum China (NYSE:YUMC) on July 5, Cherokee (NASDAQ:CHKE) on July 6.
    • Expected IPO filings: None.
    • IPO quiet period expirations: Smart Global Holdings (Pending:SGH) on July 3, ShotSpotter (Pending:SSTI) on July 3, Appian Corp (NASDAQ:APPN) on July 4, WideOpenWest (Pending:WOW) on July 4.
    • Secondary offering lockup expirations: Agios Pharmaceuticals (NASDAQ:AGIO) on July 3, RSP Permian (NYSE:RSPP) on July 3, Quotient (NASDAQ:QTNT) on July 5, Synacor (NASDAQ:SYNC) on July 5, Everbridge (NASDAQ:EVBG) on July 5, Catalyst Biosciences (NASDAQ:CBIO) on July 6, Codexis (NASDAQ:CDXS) on July 6, Hyatt Hotels (NYSE:H) on July 7.
    • Notable annual meeting: TICC Capital Group (NASDAQ:TICC) on July 6.
    • Special shareholder meetings: Conyers Park Acquisition (NASDAQ:CPAA) on July 5, Galena Biopharma (NASDAQ:GALE) on July 6, Alere (NYSE:ALR) on July 7.
    • M&A watch: Expected closing for the merger between General Electric (NYSE:GE) and Baker Hughes (NYSE:BHI) on July 3.
    • Monthly sales update: Costco (NASDAQ:COST) on July 5, L Brands (NYSE:LB) on July 6, Buckle (NYSE:BKE) on July 6, Fred's (NASDAQ:FRED) on July 6, Cato (NYSE:CATO) on July 6.
    • FTC watch: Timing agreement expires on Cabela's (NYSE:CAB)-Bass Pro Shops merger.
    • FDA watch: Pfizer (NYSE:PFE) present briefing documents on July 7 ahead of an Oncologic Drugs Advisory Committee meeting on the Mylotarg application.
    • U.S. auto sales reports:: Automakers (GM, F, FCAU, TM, HMC, OTCPK:NSANY, OTCPK:VLKAY, OTC:HYMLF, OTCPK:BMWYY, OTCPK:DDAIF) update on monthly sales on July 3, with a -4% to -1% drop in total industry volume expected. Tesla (NASDAQ:TSLA) is expected to post a Model 3 update on July 2.
    • Barron's mentions: Big returns are seen for Bristol-Myers (NYSE:BMY) and Altaba (NASDAQ:AABA). New competition is expected to pressure Intel (NASDAQ:INTC) and iRobot (NASDAQ:IRBT). A cover piece on Bitcoin (COIN, OTCPK:BTCS, OTCPK:BTSC, OTCPK:GAHC) dives into the basics on the cryptocurrency. Grant's Interest Rate Observer chips in this week with a warning on the impact of organic players on Kraft Heinz (NASDAQ:KHC) and pricing pressure across the food sector from Amazon (NASDAQ:AMZN). Watch for a breakout in gold (GLD, IAU) upwards, advises Barron's.
    • Sources: EDGAR and Bloomberg
    Sat, Jul. 1, 9:56 AM | 77 Comments
  • Wed, Jun. 14, 4:46 PM
    • Alere (NYSE:ALR) Q1 results ($M): Total Revenues: 588 (+0.2%); Cardiometabolic Disease: 125 (-21.9%); Infectious Disease: 223 (+16.1%).
    • Net Loss: (69.6) (-510.5%); Loss/Share: (0.80) ( -515.4%).
    • Non-GAAP EBITDA down 40% to $68M primarily to merger-related costs and audit/legal fees related to ongoing investigations.
    • $15M of Arriva product was supplied to customers, but no revenues were recognized due to the lack of CMS reimbursement at the time it was provided.
    • Shares are unchanged after hours.
    Wed, Jun. 14, 4:46 PM
  • Wed, Jun. 14, 4:21 PM
    • Alere (NYSE:ALR): Q1 EPS of -$0.80 may not be comparable to consensus of $0.48.
    • Revenue of $588M (+0.2% Y/Y) misses by $4.27M.
    • Press Release
    Wed, Jun. 14, 4:21 PM
  • Mon, Jun. 5, 4:58 PM
    • Alere (NYSE:ALR) files its 2016 10-K after wrapping up its internal investigation into financial misstatements by its subsidiary in South Korea.
    • Q4 revenues were $597M (-3%) while loss/share was ($1.38).
    • For 2016, revenues were ~$2.4B (-3%) with loss/share of ($1.83).
    • All business segments were down yoy except Infectious Disease, up 9%.
    • Shares are up 2% after hours on increased volume.
    Mon, Jun. 5, 4:58 PM | 1 Comment
  • Mon, Jun. 5, 4:45 PM
    • Alere (NYSE:ALR): Q4 EPS of -$1.38 may not be comparable to consensus of $0.48.
    • Revenue of $596.8M (-3.3% Y/Y) beats by $8.66M.
    • Shares +2.5%.
    • Press Release
    Mon, Jun. 5, 4:45 PM
  • Mon, May 22, 10:02 AM
    • On a preliminary basis, Alere (ALR +2.3%) booked $597M in revenues for Q4 2016, down 3.2%. GAAP loss/share was ($1.41).
    • For the year, revenues were $2.38B (-2.9%) with a loss/share of ($1.86).
    • The company says it should complete its previously announced review of its financials and file its 2016 10-K by June 15. It had delayed filing while it investigated financial misstatements by its subsidiary in South Korea. The adjustments to correct errors in revenue recognition are minor.
    Mon, May 22, 10:02 AM | 1 Comment
  • Mon, May 15, 5:31 PM
    • David Einhorn's Greenlight Capital trimmed its stake in Apple (NASDAQ:AAPL) while increasing its stake in General Motors (NYSE:GM), according to its latest 13F filing.
    • Greenlight reported holding 4.2M shares of AAPL at the end of Q1, down from ~6.1M shares at the end of Q4, and 55M GM shares, raised from ~13M in the prior quarter.
    • Top new buys: PRGO, CNDT, MU, ALR, VREX, CLPR.
    • Top exits: AGR, YELP.
    • Raised stakes in GM, CNX, SYT, MYL, FRED, DDS.
    • Cut stakes in AAPL, TWX, RAD, FMC, IAC, QHC, DSW, CC, AER
    Mon, May 15, 5:31 PM | 65 Comments
  • Tue, Apr. 25, 9:39 AM
    • Point-of-care diagnostics firm Alere (ALR +0.1%) announces the commercial launch of the Alere Malaria Ag P.f., a rapid blood screening test for malaria infection in asymptomatic people.
    • The test detects histidine-rich protein II antigen of Plasmodium falciparum malaria in human whole blood within 20 minutes. The company says it has more than 10x better sensitivity than other rapid tests with a shorter turnaround time.
    Tue, Apr. 25, 9:39 AM
  • Mon, Apr. 17, 12:45 PM
    Mon, Apr. 17, 12:45 PM