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Stock Market & Financial Investment News

News Breaks
May 30, 2014
16:59 EDTBNNY, SYK, PPC, AAPL, LGF, BIG, VRX, TSN, SPLK, SNN, AGN, HSHMarket finishes week higher after M&A deals, upbeat data
Stocks ended the week higher after several economic data points beat expectations and there were a number of new developments on the M&A front. MACRO NEWS: In the U.S., durable goods orders for April, a nationwide service sector index, and weekly jobless claims were all better than expected. Personal income for April and an index of consumer confidence for this month were slightly below expectations, while GDP was revised downward to reflect 1% annualized contraction in Q1... The European Central Bank could take steps to make credit more available to businesses at its next meeting on June 5, ECB President Mario Draghi said. COMPANY NEWS: Apple (AAPL) agreed to buy privately owned Beats Electronics and Beats Music for $3B. The Beats companies sell headphones and operate a streaming music service... Early in the week, meat products maker Pilgrim's Pride (PPC) offered to buy another company in the sector, Hillshire Brands (HSH), for $45 per share in cash or $6.4B. After Pilgrim's Pride announced its bid, another meat producer, Tyson Foods (TSN), made a $50 per share bid for Hillshire. Shares of Pinnacle Foods (PF), which Hillshire had previously agreed to purchase, ended the week lower, as the new bids cast doubt on that deal... In other M&A news, Valeant (VRX) raised the cash portion of its takeover bid for Allergan (AGN), first by $10 and then by about another $14 per share in a second offer that came today. Valeant also added a contingent value right worth up to $25 per share which is based on sales of Allergan's DARPin product, an experimental drug that Allergan is developing as a treatment for the leading cause of blindness in elderly people... Financial Times reported that orthopedic device maker Stryker (SYK) was looking to make a takeover bid for another company in the sector, Smith & Nephew (SNN). Stryker said it was in the early stages of evaluating a bid for its peer, but does not intend to make an offer at this time... Few notable companies reported earnings this week, but closeout retailer Big Lots (BIG) rose after reporting stronger than expected results and raising its guidance. Among the companies that fell after reporting results were data analysis software maker Splunk (SPLK), organic foods maker Annie's (BNNY), and "Hunger Games" producer Lionsgate (LGF). INDEXES: The Dow was up 1.37% to 16,717.17, the S&P 500 was up 2.43% to 1,923.57, and the Nasdaq was up 3.72% to 4,242.62.
News For AAPL;HSH;TSN;PPC;AGN;VRX;SYK;SNN;BIG;BNNY;SPLK;LGF From The Last 14 Days
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June 17, 2015
07:44 EDTAGNKYTHERA volatility low into Allergan acquiring for approximately $2.1B
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07:29 EDTAAPLApple Music offering high revenue rate to attract indie labels, Billboard says
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07:21 EDTAGNGeneric ADHD drugs still sold despite FDA non-equivalance finding, NYT reports
The FDA announced last November that two generic versions of Johnson & Johnson's (JNJ) Concerta ADHD drug, one made by Mallinckrodt (MNK) and the other by UCB, could no longer be considered the equivalent of the branded drug after tests and analyses suggested that their effectiveness began to wear off much more quickly, but the drugs are still being sold despite an FDA mandated deadline having passed for the companies to either prove the drugs were equivalent or remove them from the market, said The New York Times. The report noted a third generic product, sold by Actavis (AGN), was found to be equivalent to the branded Concerta. Reference Link
07:15 EDTAGNAllergan to host conference call
Conference call to discuss a definitive agreement to acquire KYTHERA Biopharmaceuticals-(KYTH) will be held at 8:30 am on June 17. Webcast Link
07:10 EDTAAPLSoftbank, Foxconn form JV to make robots, Nikkei reports
Softbank (SFTBF) and Apple (AAPL) supplier Foxconn will set up a joint venture to make robots, The Nikkei reports, citing sources. According to the sources, the JV may first focus on mass production of Pepper, a home robot that can respond to human emotions and requests, and plan to initially make around 10,000 units annually. The JV may also market the robot and potentially other models globally. Reference Link
07:04 EDTAGNAllergan to acquire KYTHERA for $75 per share, or $2.1B
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07:03 EDTAGNAllergan agrees to acquire KYTHERA for $75 per share or approximately $2.1B
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07:03 EDTAGNAllergan agrees to acquire KYTHERA for $75 per share or approximately $2.1B
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07:02 EDTAGNAllergan to acquire KYTHERA for $75 per share, or $2.1B
June 16, 2015
16:01 EDTAAPLApple Twitter Facebook Bank of America Yahoo Netflix Alibaba WisdomTree Coca-Cola Goldman Sachs Micron General Electric
iPath S&P 500 VIX Short-Term Futures down 33c to 18.68. Option volume leaders: AAPL TWTR FB BAC YHOO NFLX BABA WETF KO GS MU GE.
15:19 EDTAAPLMonster says Apple revoked license folowing Beats lawsuit, WSJ reports
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14:53 EDTAAPLMobileIron up 8% after TechCrunch discloses partnership with Apple
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14:48 EDTAAPLMobileIron working with Apple for iPad applications, TechCrunch says
Apple (AAPL) is working with MobileIron (MOBL) to help deploy applications into the enterprise, TechCrunch reports. Reference Link
11:08 EDTVRXValeant in advanced discussions to acquire Amoun, Bloomberg reports
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09:51 EDTAAPLApple stores begin selling Apple Watch, BGR reports
Apple stores around the country have begun to receive shipments of the Apple Watch for sale, reports BGR. According to sources, the stores can sell the device for sale through in-store reservations for personal pickup after an online purchase. There's no word on the product mix at this point. Reference Link
09:36 EDTAAPLActive equity options trading on open
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08:22 EDTAAPLApple iPhone demand holding up better than expected, says Pacific Crest
Pacific Crest says its initial estimates of iPhone component orders for the September quarter indicate that iPhone demand should hold up better than it had previously expected. The firm adds that iPhone demand appears to have remained solid in recent months, which should enable Apple's Q3 EPS to beat expectations. Pacific Crest adds that its more upbeat view on the iPhone is "somewhat offset" by its less positive outlook on Apple Watch sales. Nevertheless the firm thinks that the iPhone's improved outlook reduces the stock's downside risk. However, it keeps a Sector Weight rating on the shares.
07:17 EDTAAPLUber previously had talks with Apple, Starbucks on logistics tie-up, WSJ says
Uber was reportedly in talks “in recent months” with Apple (AAPL) and Starbucks (SBUX) to create partnerships to help build its same-day product delivery program, but both companies instead went with startup courier service Postmates, the Wall Street Journal reports, citing people familiar with the matter. Uber launched its logistics service a year ago with plans to sign up with “dozens” of retailers, yet has announced partnerships with only six, the report says. Eat24, owned by Yelp (YELP), and GrubHub (GRUB) also held discussions with Uber but haven't reached any agreements, the report says. Reference Link
06:13 EDTAAPLAlibaba, Foxconn could invest $500M in Snapdeal, WSJ reports
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05:45 EDTAGNAllergan, Richter announce FDA has extended review period for cariprazine
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