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Stock Market & Financial Investment News

News Breaks
January 17, 2013
09:45 EDTABT, ABT, THOR, THOR, TFX, TFX, SYK, SYK, STJ, STJ, NUVA, NUVA, MDT, MDT, HTWR, HTWR, HSP, HSP, EW, EW, COV, COV, CFN, CFN, BDX, BDX, BSX, BSX, BCR, BCR, BAX, BAX, ZMH, ZMHBarclays' U.S. medical suppplies & devices analysts hold a conference call
U.S. Medical Supplies & Devices Research Team discuss key potential catalysts and top ideas for 2013 on an Analyst/Industry conference call. Relevant covered companies ABT, BAX, BCR, BSX, BDX, CFN, COV, EW, HSP, HTWR, MDT, NUVA, STJ, SYK, TFX, THOR and ZMH will be discussed on the Analyst/Industry conference call to be held January 17 at 10 am.
News For ABT;BAX;BCR;BSX;BDX;CFN;COV;EW;HSP;HTWR;MDT;NUVA;STJ;SYK;TFX;THOR;ZMH From The Last 14 Days
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January 28, 2016
16:26 EDTBCRC.R. Bard sees 2016 adjusted EPS $9.90-$10.05, consensus $9.89
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16:25 EDTBCRC.R. Bard reports Q4 adjusted EPS $2.43, consensus $2.41
Reports Q4 revenue $870.8M, consensus $867.58M.
13:34 EDTHTWRHeartWare upgraded to Outperform from Market Perform at Wells Fargo
12:20 EDTABTOn The Fly: Top stock stories at midday
Stocks on Wall Street have moved all over the place in a wild morning of trading. The averages opened sharply higher as oil prices rose above $34 a barrel. The Dow opened with triple digit gains but following reports from Iraq that it would increase oil production, and refutations of rumors that OPEC might cut production, the commodity began to weaken, taking equities with it. The averages turned negative and it looked like another rout might be in the making. Before the market fell too far, it gathered itself and moved back into positive ground and the major averages are now in the green, but not far from where they ended yesterday's session. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 14.5% after the social media giant's fourth quarter earnings and revenue beat expectations. Wall Street analysts were nearly unanimous in their praise following the report, with a number increasing their price targets for its shares... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded about 2% this morning after the company jumped over its lowered profit hurdle... Shares of eBay (EBAY) and PayPal (PYPL) diverged after the recently-split companies reported their respective fourth quarter results and gave guidance, with eBay falling 13% and PayPal rising 7% near midday... The Dow Jones US Healthcare ETF (IYH) fell over 2% at midday after a number of big-names in the space gave disappointing guidance. Celgene (CELG) fell 5% following its Q4 report and fiscal year outlook, while Abbott (ABT) dropped 8% in the wake of its own results and guidance. MAJOR MOVERS: Among the notable gainers was Kinder Morgan (KMI), which rallied 8.5% after it was upgraded at Credit Suisse and Stifel. Also higher were Under Armour (UA), Dolby (DLB) and Deluxe (DLX), which gained 18%, 11% and 9%, respectively, after reporting quarterly earnings. Among the noteworthy losers was OSI Systems (OSIS), which fell 35% and was downgraded to Hold at BB&T following downbeat quarterly earnings. Also lower were Qualcomm (QCOM) and Discover (DFS), which each dropped about 7% after their quarterly earnings reports. INDEXES: Near midday, the Dow was up 1.37, or 0.01%, to 15,945.83, the Nasdaq was up 21.12, or 0.47%, to 4,489.28, and the S&P 500 was up 3.36, or 0.18%, to 1,886.31.
11:33 EDTABTOptions with increasing call volume
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11:11 EDTHTWR, STJHeartWare rallies after scrapping Valtech acquisition
The shares of HeartWare (HTWR) are surging after the company announced that would terminate its acquisition of privately held Valtech. Two research firms reacted positively to the news, with Leerink Swann saying that the company made the right decision, given its current difficulties and Raymond James upgrading HeartWare following the news. HeartWare develops and manufactures miniaturized implantable heart pumps, while Valtech has developed a method of replacing mitral valves in human hearts without the need for open heart surgery. WHAT'S NEW: HeartWare decided to terminate its acquisition of Valtech, the companies announced this morning. Pursuant to the terms of the agreement, HeartWare will make a $30M loan to Valtech in the form of a convertible promissory note. ANALYST REACTION: HeartWare's decision to abandon its acquisition of Valtech was correct in light of the problems that the company is facing with its next generation MVAD pump, Leerink analyst Danielle Antalffy wrote in a note to investors today. Noting that two weeks ago HeartWare announced that it would investigate suction issues that the device has had, the analyst says that fixing the pump could require additional investment, while it's uncertain how long it will take to solve the device's problems. However, the analyst remained upbeat on Heartware's current LVAD products, and believes that it can compete with next generation systems. She kept a $60 price target and Outperform rating on the shares. Raymond James upgraded HeartWare to Outperform from Market Perform, saying that the termination of the Valtech deal removes an overhang on the shares, while the stock's underperformance since September has made its valuation more attractive. Moreover, the stock does not appear to be giving any value to the problematic MVAD pump and the company has a 37% share of a $760M market that has only two main competitors and high barriers to entry, the firm wrote. WHAT'S NOTABLE: In early October 2015, activist investor Engaged Capital urged HeartWare to terminate the Valtech deal. Today HeartWare announced that it would, in conjunction with Engaged Capital, "jointly select" an independent party who will join Heartware's board. ANOTHER TO WATCH: HeartWare's chief rival, Thoratec, was acquired last year by St. Jude Medical (STJ). PRICE ACTION: In late morning trading, HeartWare rose 10% to $37.95. St. Jude, which reported its fourth quarter results and gave fiscal year guidance this morning, is down 1.4% to $53.56.
10:47 EDTABTAbbott weakness a buying opportunity, says Deutsche Bank
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09:50 EDTHTWRHeartWare upgraded to Outperform from Market Perform at Raymond James
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09:38 EDTHTWRHeartWare likely to trade 'sharply higher' on deal termination, says Leerink
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09:38 EDTABTAbbott says 'definitely not inactive' on M&A
09:38 EDTABTAbbott: Would look at deal 'if it was the right opportunity at the right place'
Says capital allocation priorities have not changed. Regarding M&A, says has been looking at properties "largely internationally." Says has made good deals in the past. Says "We don't see a lot that people are offering up for sale," says prices for things up for sale "imprudent." Says would look at a deal if "it was the right opportunity at the right place." Says "everybody's in the same environment." Says "probably more focused" on M&A.
09:26 EDTABTAbbott sees global diagnostics sales up mid single digits for Q1, FY16
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09:19 EDTABTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Facebook (FB), up 13.9%... Under Armour (UA), up 14.6%... MicroStrategy (MSTR), up 8.9%... Harley-Davidson (HOG), up 8%... Paypal (PYPL), up 6%... Mellanox (MLNX), up 7.9%... Cirrus Logic (CRUS), up 6.2%... Alibaba (BABA), up 4.5%. ALSO HIGHER: Neos Therapeutics (NEOS), up 61.4% after the FDA approved Adzenys XR-ODT for the treatment of ADHD... Exelixis (EXEL), up 4.7% after the U.S. FDA determined the company's New Drug Application for cabozantinib is sufficiently complete... Kinder Morgan (KMI), up 6.7% after being upgraded at Credit Suisse and Stifel. DOWN AFTER EARNINGS: OSI Systems (OSIS), down 21.3%... ServiceNow (NOW), down 22.3%... eBay (EBAY), down 11.5%... InvenSense (INVN), down 10.5%... Juniper Networks (JNPR), down 9.3%... Hologic (HOLX), down 4.4%... Abbott Laboratories (ABT), down 3.6%... Potash (POT), down 2.1%... Qualcomm (QCOM), down 3.6%.
09:19 EDTABTAbbott expects EPS to progressively accelerate throughout 2016
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07:35 EDTABTAbbott sees Q1 EPS ex-items 38c-40c, consensus 47c
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07:34 EDTABTAbbott sees FY16 EPS ex-items $2.10-$2.20, consensus $2.26
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07:33 EDTABTAbbott reports Q4 adjusted EPS 62c, consensus 61c
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07:14 EDTBSXBoston Scientific and Accenture develop digital health solution
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06:14 EDTHTWRHeartWare announces cooperation agreement with Engaged Capital
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06:13 EDTHTWRHeartWare, Valtech Cardio announce termination of proposed acquisition
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