Teva Pharmaceutical, Allergan, Hain Celestial News Today

Teva Pharmaceutical Industries Ltd (ADR) (TEVA), Allergan plc Ordinary Shares (AGN), and Hain Celestial Group Inc (HAIN) are making headlines today

Feb 13, 2017 at 10:22 AM
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U.S. stocks are higher, as indexes continue their run to record highs. Among specific equities in focus today are biotech stocks Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) and Allergan plc Ordinary Shares (NYSE:AGN), as well as organic food company Hain Celestial Group Inc (NASDAQ:HAIN). Here's a quick look at what's driving TEVA, AGN, and HAIN shares.

Teva Pharmaceutical Higher On Earnings Beat

TEVA is up 4.6% at $33.74, after the biotech company delivered an earnings beat this morning, thanks in part to sales from its acquisition of AGN's Actavis. Teva Pharmaceutical Industries Ltd (ADR) also said it is "committed" to its full-year 2017 profit forecast. The struggling drugmaker is still down nearly 40% year-over-year, after having hit a near decade low of $31.91 last week. Near-term TEVA option players have been especially put-biased, with TEVA's Schaeffer's put/call open interest ratio (SOIR) of 1.12 sitting just 3 percentage points from an annual peak.

Allergan Acquires Zeltiq

AGN is up 0.7% at $248.11, after announcing it would be acquiring medical device business Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) for about $2.5 billion, or $56.50 per share. However, today's gains could be tempered by news that the Securities and Exchange Commission (SEC) recently wrote a letter to Allergan plc Ordinary Shares rebuking the company for its non-GAAP figures (subscription required). AGN is still up 33% from its November lows, though the shares may be encountering resistance at their 320-day moving average. Option bulls have been more active than usual, with AGN's 50-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 1.96 sitting higher than 91% of all other readings from the past year.

Hain Celestial Discloses SEC Subpoena

HAIN is down 12.5% at $33.72 -- and just off a three-year low of $32.87 -- after news broke that the company was under investigation from the SEC for its accounting practices. On Friday, Hain Celestial Group Inc delayed its quarterly earnings report due to an internal accounting review. Today's drop puts the shares down 40% from their August highs, and below the formerly supportive $34 mark, which contained several pullback attempts in late 2016. Option bulls are likely kicking rocks after today's drop, with HAIN's 50-day call/put volume ratio at the ISE/CBOE/PHLX sitting just 1 percentage point from an annual peak, with 17.99 calls bought to open for every put over the last 10 weeks.

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