TEVA, XOMA, AMZN: Latest News and Stock Analysis
In a dramatic about-face, Teva Pharmaceuticals (NYSE:TEVA) dropped its giant but hostile bid for U.S. drugmaker Mylan Monday and agreed instead to an even bigger acquisition of Allergan Plc’s generic drugs business.
The deal, the largest in Israel’s corporate history and among the biggest in a wave of global drug mergers and acquisitions, immediately won favor with the financial markets and analysts. The acquisition will turn the Israeli company into one of the world’s largest pharmaceutical firms.
According to I Know First, On July 26th, 2015, their algorithm gave a bullish signal for the ticker TEVA (Teva Pharmaceuticals), which had a strong predictability indicator. In accordance with the algorithm’s prediction, TEVA pharmaceuticals spiked 16.40% on trading day July 27th.
XOMA (Nasdaq: XOMA) is continuing lower after announcing last week that the “Phase 3 EYEGUARD-B study of gevokizumab in patients with Behçet’s disease uveitis, run by its partner Servier, an independent French pharmaceutical research company driven by the pursuit of innovative drugs, did not meet the primary endpoint of time to first acute ocular exacerbation.”
According to I Know First, on July 14th to a 14-day biotech forecast which recommended a large list of long and short positions based on an advanced predictive algorithm and on trading day July 22nd, XOMA stock sustained a sudden collapse from $4.39 to $1, a one-day hit of 77.22%. XOMA now trades at $.82, lower than the $1 minimum expected from securities traded on the NASDAQ.
Amazon.com, Inc. (NASDAQ:AMZN) is attempting to offer a grocery service where clients can order perishable items online and pick them up from a dedicated center at a time of their choosing. Such services have become popular with consumers in Europe, but the e-commerce giant is hoping the “click and collect” option gathers steam in the US, although it is yet to really take off in the country.
Moreover The sprawling success of the Prime Day sale and the massive earnings surprise back up the bullish forecast that I Know First’s algorithm predicted. I Know First remains bullish on the Amazon.com stock based on the positive indicators produced by the algorithm.
Published on July 16th, I Know First’s bullish article regarding Amazon stock summarized why the company remains a solid investment. The exclusive algorithm employed by I Know First correctly predicted a rise in Amazon share price despite analysts’ estimate of a Q2 EPS of -$0.14. Upon releasing their earnings on Thursday, the 23rd, they revealed a 235.7% surprise to analysts when they reported Q2 EPS of $0.19. This major difference pushed the stock up by a staggering 11% on Friday..