This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Why AstraZeneca (AZN) Stock Is Spiking Today

NEW YORK (TheStreet) -- AstraZeneca (AZN - Get Report) stock is soaring in morning trading Monday after drugmaker Pfizer (PFE - Get Report) confirmed previous merger discussions and its intention to continue attempts to acquire the smaller pharmaceuticals company.

By midmorning, shares had popped 14.4% to $78.54.

In a statement, Pfizer said its previous attempts to purchase AstraZeneca in January had been met with "limited high-level discussions." However, recent market developments encouraged management to pursue continued M&A discussions. 

SELL NOW: If you own any of the 900 stocks that TheStreet Quant Ratings has identified as a 'Sell' could potentially lose EVERYTHING in the next 6-12 months. Learn more.

Must Read: Why NorthStar Realty Financial (NRF) Hit a Five-Year High Today

Its previous offer involved a purchase of AstraZeneca for 46.61 British pounds (or $76.62) a share, a transaction offered in cash and stock. At the time, the offer represented a 30% premium to AstraZeneca's  share price

"The combination of Pfizer and AstraZeneca could further enhance the ability to create value for shareholders of both companies and bring an expanded portfolio of important treatments to patients," said Pfizer CEO Ian Read in a statement.

A possible transaction would be accretive to Pfizer's adjusted earnings in the first full fiscal year following the combination.

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AZN $32.11 0.00%
PFE $33.08 0.00%
AAPL $110.38 0.00%
FB $92.07 0.00%
GOOG $626.91 0.00%


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs