We spend a lot of time highlighting sectors and industries that are outperforming the broader market and garnering plenty of bullish headlines, but it's just as important to identify lagging market niches for long-only investors to avoid and short-oriented traders to target.
U.S. stocks eked out small gains on Monday morning, helped by gains in materials and consumer stocks, as investors stayed cautious after last week's strong gains and ahead of Thanksgiving.
Pfizer Inc on Monday said it would buy Botox maker Allergan Plc in a record-breaking deal worth $160 billion, designed to cut the company's U.S. tax bill by moving its headquarters to Ireland.
Pfizer Inc., the largest U.S. drug maker, may soon redomicile in Ireland should it complete a massive acquisition of Dublin-based Allergan, the manufacturer of Botox.
Allergan, based in Irvine, California, said in a statement that it turned down the offer of $72 a share in cash and 0.83 a share of Valeant stock. On May 28, Laval, Quebec-based Valeant raised its bid for the first time to $49.4 billion from $45.7 billion.
