E Portfolio Review - June 4, 2018

Here is a roundup covering the latest news on the stocks in our portfolio. As well as plans to add two more stocks:


AbbVie announced a modified "Dutch auction" tender offer to purchase for cash up to $7.5 billion of its common stock at a price not less than $99.00 per share and not more than $114.00 per share, given the company’s strong year-to-date performance, robust cash flow and its undervalued stock price due to the market’s overreaction to AbbVie’s decision not to seek accelerated approval for Rova-T to treat small cell lung cancer. We agree with management that the stock appears attractively valued which is why we declined to tender our shares. The significant share repurchase program should create value for long-term shareholders.


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Disclosure: None.

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