Boston, MA 02/20/2014 (wallstreetpr) – Alpha Natural Resources, Inc. (NYSE:ANR) last week had its stock price objective and rating by several investment analysts and brokerages tracking the company. Analysts at Barclays lowered their price target on the stock to $6 from $7 and planted and “equal-weight” rating. The stock also had its rating updated by JPMorgan Chase & Co. (NYSE:JPM) to “neutral.” Shares of Alpha Natural Resources, Inc. (NYSE:ANR) gained 14 cents each in the last trading session to settle at $5.25, but the gain continued in the afterhours were by the shares added 2 cents each to hit $5.27. ANR deals in metallurgical coal, a business that has been under pressure in the recent times due to slow down in iron ore processing globally.
Forest Laboratories, Inc. (NYSE:FRX) touched a new 52-week high of $94.68 in the previous session, as traders continue to buy into the planned acquisition of the drug developer. FRX is offering itself to Actavis for about $25 billion, translating to about $89.48 per share. The planned acquisition was declared Tuesday and since then the stock has been trading up. The combined forces of Actavis and FRX are expected to result in annual revenue in excess of $15 billion by 2015. That is according to a press release by one of the companies. The purchase of FRX will involve both cash and equity and Actavis is already courting various financiers for the deal, among them Bank of America Merrill Lynch. Actavis needs to raise about $7 billion in cash. Shares of Forest Laboratories, Inc. (NYSE:FRX) continued their upward rally, settling at $93.98 by bell time after gaining more than 3.2 percent.
Eli Lilly & Co. (NYSE:LLY) has updated its fiscal 2014 earnings per share and revenue guidance. While Thomson Reuters has a consensus EPS of $2.82 on the stock, the company said that it now expects to realize EPS in the range of $2.77 – $2.85, the higher end of this EPS forecast exceeding consensus by 3 cents. As for revenue, LLY expects to rake in between $19.2 and $19.8 billion in fiscal 2014, at a time when consensus revenue is being viewed at $19.60 billion. Eli Lilly & Co. (NYSE:LLY) gained 5.14 percent on NYSE Wednesday to end the regular session at $58.09.