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Morning Buzz: Ligand Pharmaceuticals Inc. (NASDAQ:LGND), GlaxoSmithKline plc (ADR) (NYSE:GSK), Kindred Healthcare, Inc. (NYSE:KND), Pinnacle Foods Inc (NYSE:PF)

Morning Buzz: Ligand Pharmaceuticals Inc. (NASDAQ:LGND), GlaxoSmithKline plc (ADR) (NYSE:GSK), Kindred Healthcare, Inc. (NYSE:KND), Pinnacle Foods Inc (NYSE:PF)
Written by
Chris Sandburg
Published on
November 12, 2014
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Ligand Pharmaceuticals Inc. (NASDAQ:LGND) said its partner GlaxoSmithKline plc (ADR) (NYSE:GSK) submitted a request to European regulators to expand the marketing of Revolade, its product to treat adult patients with severe aplastic anemia (SAA) who have had an insufficient response to immunosuppressive therapy. GlaxoSmithKline plc (ADR) (NYSE:GSK) asked The European Medicines Agency (EMA) for a variation to the Marketing Authorization. SAA is a rare disorder in which the bone marrow fails to make enough new blood cells. There are currently no approved therapies available in the European Union.Click here for a free comprehensive Trend Analysis ReportKindred Healthcare, Inc. (NYSE:KND) said it has agreed to buy Centerre Healthcare Corporation, an operator of inpatient rehabilitation hospitals, for $195 million in cash. The provider of integrated post-acute care and rehabilitation said Centerre operates 11 inpatient rehabilitation hospitals with 612 beds in addition to another two hospitals with a total of 90 beds under construction and scheduled to open in 2015. Centerre also has a pipeline of additional potential hospitals in various stages of development, Kindred Healthcare, Inc. (NYSE:KND) said.Centerre is expected to generate 2014 revenue of approximately $200 million and EBITDAR of $48 million. Kindred said the deal is expected to be accretive to earnings by $0.04 to $0.06 per share in 2015. Once fully integrated, and the new and existing Inpatient Rehabilitation Hospitals mature, Kindred expects the transaction to be approximately $0.10 to $0.12 accretive to earnings. KND closed near the mid-point of the 52-week range between $13.50 and $26.81 on Tuesday.Click here for a free comprehensive Trend Analysis ReportPinnacle Foods Inc (NYSE:PF) reported mixed financial results for Q3 ended Sept. 28, 2014, as earnings matched analysts' estimates, while revenue was better than expected; PF also tightened its earnings guidance range for fiscal 2014, in line with forecasts. The manufacturer, marketer and distributor of branded food products in North America posted Q3 net income of $136 million or $1.16 per share, compared with the prior-year period's $40.7 million or $0.35 per share.Excluding items affecting comparability, on a pro forma basis, diluted earnings were $47.6 million or $0.41 per share, compared with $40.8 million or $0.35 in the same quarter the previous year. Pinnacle Foods Inc (NYSE:PF) revenue was $624 million, up 9% from $572.5 million in the same quarter last year. Analysts polled by Capital IQ were expecting EPS of $0.41 on revenues of $620.01 million. The company now expects fiscal 2014 EPS of $1.70 - $1.75, from the prior guidance of $1.71 - $1.74 EPS. The Street view is for EPS of $1.74. Shares are trading with a 52-week range of $26.09 - $35.67.Click here for a free comprehensive Trend Analysis Report

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