Carl Icahn is making a bet on Botox. In a tweet Tuesday morning, Icahn announced that he acquired a "large position" in Allergan (AGN), the maker of Botox and other drugs used in dermatology, ophthalmology, women's health and other specialties. (Allergan is an Action Alerts PLUS holding.) In a note released on his website, Icahn said he was "very supportive" of CEO Brent Saunders and that he has "every confidence in Brent's ability to enhance value for all Allergan shareholders."
SodaStream (SODA) just launched a new product picnicgoers may have wished for over their Memorial Day weekend. The company behind the sparkling-water maker has now released a Beer Bar system in Germany and Switzerland, which works similarly to its other products. There is only one beer type, called "the Blondie," available for the machine. Revelers hoping to use the machine this Fourth of July may be disappointed as the product won't be available in other markets until late 2016 and 2017.
In what almost sounds like the opening to a joke, a plumber and a banker were charged with insider trading by the Securities and Exchange Commission Tuesday. The SEC alleges Steven McClatchey, who was a banker at Barclay's, according to a Wall Street Journal report, provided insider knowledge of potential mergers and acquistions to his plumber, Gary Pusey. In exchange for the information, the SEC says, Pusey provided free plumbling services and cash to McClatchey. Seems Pusey may not have been great at fixing leaks.
Pattern analysis by SEC's Market Abuse Unit detected illicit trades by plumber who got stock tips from banker https://t.co/6lfzlbYAjs¿ SEC_News (@SEC_News) May 31, 2016
-- Written by Carleton English