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Stock Market & Financial Investment News

News Breaks
May 19, 2014
08:41 EDTABCAmerisourceBergen announces special $650M repurchase program
AmerisourceBergen announced that its Board of Directors has authorized a special $650M share repurchase program intended to supplement the company’s previously announced warrant hedging strategy. The special program will be used to mitigate the potentially dilutive effect on the ownership interests of its then-existing stockholders that may result from the issuance of common stock upon exercise of the warrants issued in March 2013. The company intends to exclude the impact of the share repurchases under the special program from its presentation of adjusted diluted EPS from continuing operations beginning with its earnings release for the fiscal quarter ending June 30 and until the warrants are exercised or expire. The exclusion of the special share repurchases will be consistent with the company’s exclusion of the accounting dilution resulting from the impact of the warrants in the calculation of the company’s adjusted diluted earnings per share. As a result, share repurchases under the special program will not have an impact on the company’s expectations for the range of its adjusted diluted earnings per share from continuing operations for FY14, which was previously disclosed in its earnings release dated April 24. That range continues to include an assumption that the company will repurchase $500M of its common stock in FY14 under its previously announced repurchase programs, subject to market conditions.
News For ABC From The Last 14 Days
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July 30, 2014
09:47 EDTABCLeerink healthcare analyst holds an analyst/industry conference call
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July 25, 2014
10:55 EDTABCHigh option volume stocks
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09:28 EDTABCCardinal Health has good read through from AmerisourceBergen, says Sterne Agee
Sterne Agee believes that AmericansourceBergen's (ABC) beat and raise results bode well for Cardinal Health (CAH). The firm keeps a Buy rating on Cardinal.
July 24, 2014
07:03 EDTABCAmerisourceBergen now sees FY14 adjusted continuing ops EPS $3.89-$3.94
Consensus is $3.73. Sees FY14 revenue growth in the 35% range, consensus $116.72B. The company says "Adjusted operating margin is expected to decline in the high-teens basis points range due to the onboarding of significant new lower margin business and growth in brand pharmaceutical business with our large customers. We expect free cash flow to be in the high end of the range of $500 to $700 million, with capital expenditures in the $275 million range, and to spend approximately $500 million in share repurchases, subject to market conditions."
07:02 EDTABCAmerisourceBergen reports Q3 continuing ops EPS $1.01, consensus 92c
Reports Q3 revenue $30.35B, consensus $29.25B.

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