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The deal could be worth $1.5 billion.
Hedge fund managers continue to flee stocks in the second quarter, but the smart money eyed several potential opportunities, including Charter Communications and Morgan Stanley.
Aureus Asset Management co-founder Karen Firestone told CNBC that Allergan (AGN) stock is poised to see growth in its aesthetics and eye-care services.
Allergan (AGN) stock was trading higher pre-market following an upgrade to 'buy' at Mizuho given potential upside from higher gross margins and quarterly beats.