威廉阿克曼承认他后悔购买股票缬草医药国际, the stock that is more responsible for his steep losses since last year than any other. In a freewheeling one-hour interview on CNBC, the founder of New York-basedPershing Square Capital Managementsaid, “No one wants a stock down 85 or 90 percent.” Asked how close he came to bailing out completely from the stock, he said, “I came very close. I thought very seriously about it.” But he said he hung on because of what he believes is the high value of the drug maker’s assets. He pointed to Valeant acquisitions such as Bausch & Lomb and Salix Pharmaceuticals as well as key products.
Shares of Valeant dropped nearly 13 percent in the first 90 minutes of trading Monday after the company reported negative news on Friday as it filed its 2015 annual report, which was late. The stock, however, started to surge from noon to 1 p.m. while Ackman talked up changes made at the company over the past five weeks, including new top management, a shake-up of the board of directors, the filing of its annual report and restatements of earlier results. The stock wound up closing for the day at $32.58, down “just” 2.34 percent for the day.
Over the next two weeks we’ll learn which hedge funds bought, sold and stood pat with positions in Valeant in the first quarter. Of course, we won’t know exactly whether those who bought or sold did so before or after the stock dropped nearly 50 percent on March 15.
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Ackman还遭受了坏消息，周一当苏士士表示，一项新的分析师表示，一名新的分析师承担了平台专业产品，专业化学品和服务的生产商，将价格目标从14美元降至10美元。分析师还对股票进行了中立评级，对化学产品生产者的杠杆施加了担忧。“虽然我们在长期故事中保持建设性，但弱端市场阻碍了其减少杠杆的能力，”周一向客户发送给客户说。在4月26日的投资者演讲中，潘兴广场表示，平台“正在努力解决2015年它面临的挑战”。股市去年下跌了近50％，今年几乎再次减半，单独跌幅超过3％，收于9.98美元。“平台目前的企业收集受益于长期世俗的生长趋势，并具有良好的竞争职位，”潘兴广场在最近的投资者会议上告诉客户。信用瑞士明显然是等待和看见的态度。
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Ackman received some good news on Monday, however, when Barclays raised its price target on Air Products and Chemicals—one of Pershing Square’s more successful investments—from $147 to $162. The bank also retained its Equal Weight rating on the stock. The move comes following a strong quarterly earnings report. In the first quarter, Air Products was the only stock singled out for generating a profit for Pershing Square. As we earlier noted, Pershing Square stressed that the company has generated six straight quarters of double-digit earnings-per-share growth since Seifi Ghasemi became CEO.
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Merger arbs and activists were apparently surprised by the news that Baker Hughes and Halliburton called off their merger, which they had agreed to in November 2014. Under the deal between the two energy-services companies, Halliburton will pay Baker Hughes a $3.5 billion termination fee. Baker Hughes said it will use the proceeds to buy back stock and pay down debt. Even so, shares of Baker Hughes fell by 2 percent while Halliburton rose nearly 2 percent, though off from their high on the day. As we earlier reported, last week San Francisco-basedValueAct Capitalreported selling nearly one million shares of Baker Hughes from March 7 through March 22, resulting in a stake of 9 percent. At year-end, ValueAct also owned 1.92 percent of Halliburton, making it the ninth-largest shareholder at the time.