CXRX

Concordia: Point72 Asset Management discloses 5.8% passive stake  (9.37 -0.76)
8/15/2016, 5:33:04 PM ET
Concordia enters cross currency swap agreement after evaluating its currency hedging alternatives (9.45 -0.68)
8/15/2016, 1:16:39 PM ET
As previously disclosed, Concordia was actively evaluating currency hedging alternatives. Concordia believes that the Swap Agreement will further align its British pound-sterling earnings and strong free cash flow with its debt obligations and will moderate the impact of fluctuations in the GBP to U.S. Dollar exchange rate.

The pay fixed GBP / receive fixed USD cross currency swap has a notional amount of $382 million and effectively converts this amount of Concordia’s USD debt obligations into a GBP obligation in the amount of approximately GBP 297 million. The maturity date of the Swap Agreement is April 15, 2023.
Concordia says it will continue to monitor its currency risks and hedging strategies.

Courtesy of Briefing.com
Buys CXRX back at $9.26.
Stop price is $8.99
Targets are $12.50—$16.00—$17.50 and $21.50.
The picture is getting a little clearer here. Without this additional info I was not willing to stay in even though CXRX was down from 89 bucks. I am still a little leary here thus the stop at $8.99.

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