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Stock Market & Financial Investment News

News For NCIT;ABBV;ESI;FII;ABT;DELL From The Last 14 Days
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May 27, 2015
10:01 EDTABTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abbott (ABT) initiated with a Buy at Evercore ISI... Aldeyra (ALDX) initiated with a Buy at Janney Capital... Black Stone Minerals (BSM) initiated with a Neutral at Credit Suisse... Boston Scientific (BSX) initiated with a Buy at Evercore ISI... Cidara Therapeutics (CDTX) initiated with a Buy at BTIG... Coach (COH) initiated with an Underweight at BB&T... Diplomat Pharmacy (DPLO) initiated with an Outperform at Raymond James... EPIRUS (EPRS) initiated with a Buy at BTIG... Enviva (EVA) initiated with a Buy at Citigroup... General Finance Corp (GFN) initiated with an Outperform at Oppenheimer... Hortonworks (HDP) initiated with an Outperform at Oppenheimer... Jarden (JAH) initiated with a Buy at UBS... Kate Spade (KATE) initiated with a Buy at BB&T... Medtronic (MDT) initiated with a Hold at Evercore ISI... MoneyGram (MGI) initiated with a Neutral at Goldman... Opexa Therapeutics (OPXA) initiated with a Buy at Maxim... Paratek Pharmaceuticals (PRTK) initiated with a Buy at BTIG... Progenics (PGNX) initiated with a Buy at BTIG... Rite Aid (RAD) initiated with a Buy at Mizuho... St. Jude Medical (STJ) initiated with a Buy at Evercore ISI... Starwood Waypoint (SWAY) initiated with an Outperform at Wells Fargo... Talen Energy (TLN) initiated with a Hold at Deutsche Bank... Ulta Salon (ULTA) initiated with a Buy at Buckingham... Vipshop (VIPS) initiated with a Buy at Stifel... Virtu Financial (VIRT) initiated with a Neutral at Citigroup... Vista Outdoor (VSTO) initiated with a Buy at Wunderlich... ZELTIQ (ZLTQ) initiated with a Buy at Northcoast... eBay (EBAY) initiated with a Buy at Topeka.
07:42 EDTABTAbbott initiated with a Buy at Evercore ISI
Target $54.
06:57 EDTABBVAbbVie enters into ASR with Morgan Stanley to repurchase $5B of stock
AbbVie (ABBV) said in a regulatory filing that on May 26, it entered into an accelerated share repurchase agreement with Morgan Stanley (MS) to repurchase $5B of AbbVies common stock. Morgan Stanley is expected to make an initial delivery of approximately 68 million shares of AbbVies common stock on May 27, which represents 90% of the prepayment amount divided by the closing price of AbbVies common stock on May 26. At settlement of the agreement, Morgan Stanley may be required to deliver additional shares of AbbVies common stock to AbbVie or, under certain circumstances, AbbVie may be required to deliver shares of its common stock or may elect to make a cash payment to Morgan Stanley. The total number of shares of AbbVies common stock to be repurchased under the agreement will be based on the daily volume-weighted average price of AbbVies common stock during the term of the transaction, less a discount and subject to adjustment pursuant to the terms of the agreement. The final settlement of the transactions under the agreement is expected to occur before the end of 4Q15 and may be accelerated at the option of Morgan Stanley.This agreement was entered into pursuant to AbbVies previously disclosed share repurchase authorization and in connection with AbbVies previously announced acquisition of Pharmacyclics, which was completed on May 26.
06:25 EDTABBVAbbVie reinstated with an Overweight at JPMorgan
JPMorgan reinstated its Overweight rating on shares of AbbVie and raised its price target for shares to $75 from $73. The firm views the valuation as "inexpensive" and views the Pharmacyclics acquisition as adding a "solid" growth platform.
May 26, 2015
19:16 EDTABBVEnanta says may receive $30M milestone payment from AbbVie upon Japan approval
In reference to the release of GIFT-1 study data, Enanta (ENTA) stated that upon commercialization regulatory approval [sic] in Japan of AbbVie's (ABBV) treatment regimen related to GIFT-1, Enanta will be entitled to a $30M milestone payment from AbbVie. In addition, Enanta will be eligible to receive annually tiered royalties, ranging from the low double digits up to 20%, on AbbVies aggregate net sales of all paritaprevir-containing regimens, including 45% of AbbVies worldwide net sales of any two direct-acting antivirals regimen.
19:07 EDTABBVAbbVie presents phase 3 GIFT-I data, says achieved primary endpoint
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10:46 EDTABBVAnthem sued for denying coverage for Gilead's Harvoni, WSJ says
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08:32 EDTABBVAbbVie completes acquisition of Pharmacyclics
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08:03 EDTABBVInfinity Pharmaceuticals reports preclinical data for duvelisib
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06:16 EDTABTAbbott to start selling G.M.O-free Similac Advance formula, NY Times reports
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May 22, 2015
08:00 EDTABBVAbbVie announces expiration of HSR waiting period for Pharmacyclics acquisition
AbbVie (ABBV) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for AbbVie's purchase of Pharmacyclics (PCYC) has expired today. The expiration satisfies the exchange offer condition with respect to the approvals and clearances required under antitrust laws. Assuming that the other customary exchange offer conditions are satisfied, including a minimum tender of at least a majority of outstanding Pharmacyclics shares, it is expected that the exchange offer to acquire all of the outstanding shares of common stock of Pharmacyclics will expire today at 5:00 p.m., New York City time, without any further extension.
May 21, 2015
08:04 EDTABBVAbbVie announces offer consideration for acquisition of Pharmacyclics
AbbVie (ABBV) announced the per share offer consideration amounts pursuant to its previously announced offer to acquire each outstanding share of common stock of Pharmacyclics (PCYC) for a mix of cash and AbbVie common stock, as described in the Registration Statement on Form S-4 filed with the SEC by AbbVie on March 23, 2015, as amended. The mixed consideration will consist of $152.25 in cash and 1.6639 shares of AbbVie common stock and, subject to proration, the all-stock consideration will consist of 3.9879 shares of AbbVie common stock.
07:58 EDTABBVDeutsche sees AbbVie shares getting to $80 over summer
Deutsche Bank sees pipeline readouts over the summer pushing shares of AbbVie to $80. The firm keeps a Buy rating on the stock with an $80 price target after meting with management.
07:37 EDTABBV, ABTPfizer replaces AbbVie as top global pharma pick at Jefferies
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May 20, 2015
17:28 EDTESIITT Technical Institutes seeks reinstatement by California veteran's agency
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09:07 EDTABBVJohnson & Johnson says exploring eight new indications for Imbruvica
Imbruvica is jointly developed and commercialized by Pharmacyclics (PCYC) and Johnson & Johnson (JNJ) subsidiary Janssen Biotech. AbbVie (ABBV) is in the process of acquiring Pharmacyclics.
07:21 EDTABBVUBS to hold a conference
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May 19, 2015
08:57 EDTABBVLeerink biotech analyst holds an analyst/industry conference call
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08:02 EDTABTAbbott announces CE Mark for new advancement of Absorb stent system
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May 18, 2015
11:23 EDTABTFitch downgrades Abbott's L-T IDR to A; outlook revised to stable
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