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Stock Market & Financial Investment News

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January 22, 2013
04:55 EDTABT, ABT, TMO, TMO, SYK, SYK, RHHBY, RHHBY, PFE, PFE, HAE, HAE, FRX, FRX, EW, EW, COV, COV, CERN, CERN, BCR, BCR, ZOLL, ZOLLSociety of Critical Care Medicine to host a conference
42nd Critical Care Congress is being held in San Juan, Puerto Rico on January 19-23.
News For ABT;BCR;CERN;COV;EW;FRX;HAE;PFE;RHHBY;SYK;TMO;ZOLL From The Last 14 Days
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May 13, 2015
12:39 EDTTMOOn The Fly: Top stock stories at midday
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07:31 EDTPFE, SYKHeart Rhythm Society to hold a conference
Heart Rhythm 2015 is being held in Boston on May 13-16.
May 12, 2015
16:25 EDTTMOOn The Fly: Top stock stories for Tuesday
Stocks began the session deep in negative territory as bond yields in Europe and the U.S. were moving higher. The market saw its lows shortly after the open and soon began to recapture some of its losses. By noon, the losses were cut in half and the Dow made it all the way back to positive ground by the afternoon. Unable to gather any upside momentum, the rally stalled and the averages limped into the close. ECONOMIC EVENTS: In the U.S., the National Federation of Independent Business' small business optimism rose 1.7 points to 96.9 in April, versus expectations for a 96.0 reading. The JOLTs report showed job openings fell 150K to 4.99M in March, versus expectations for 5.11M openings. The 10-year U.S. Treasury yield climbed at high as 2.37% earlier in the session, which was its highest intraday mark since last November, before easing back by midday. Outside of the U.S., bond yields surged on 10-year notes in Japan, Italy, Spain, Portugal, and Germany. COMPANY NEWS: Shares of AOL (AOL) advanced $7.93, or 18.62%, to $50.52 after Verizon (VZ) agreed to buy the company for $50 per share in a deal valued at $4.4B. Verizon's John Stratton, speaking at the Jefferies 2015 Global TMT Conference, said the AOL deal was primarily about ad technology and Re/code reported that "one scenario" the service has heard about is that Verizon plans to spin off some or all of the content operations it is acquiring by buying AOL, such as the Huffington Post. Yahoo (YHOO) also rose 24c, or 0.55%, to $43.84, as Cantor Fitzgerald analyst Youssef Squali said he now views it as the "last remaining large scale digital media company of its kind." MAJOR MOVERS: Among the notable gainers was Pall Corp. (PLL), which advanced $19.31, or 19.44%, to $118.62 after The Wall Street Journal reported that the company is near a possible sale and listed Danaher (DHR) and Thermo Fisher (TMO) as potential buyers. Also higher was Pain Therapeutics (PTIE), which gained 68c, or 35.05%, to $2.62 after announcing that a study of its lead drug candidate, that is specifically designed to discourage certain common methods of drug tampering and misuse, demonstrated with statistical significance that both intact and chewed Remoxy were less "liked" than immediate-release oxycodone on the two primary endpoints of Drug Liking and Drug High. Among the noteworthy losers was ITT Educational Services (ESI), which plunged $1.75, or 43.53%, to $2.27 after the SEC announced that it had charged the company, along with its CEO and CFO, with fraud. Also lower were shares of NewLink Genetics (NLNK), which dropped $15.59, or 29.9%, to $36.55 after stating that it would continue its flagship IMPRESS trial as planned despite disclosing the FDA did not endorse management's plan to change the statistical analysis plan as defined in the original protocol. INDEXES: The Dow fell 36.94, or 0.2%, to 18,068.23, the Nasdaq slid 17.38, or 0.35%, to 4,976.19, and the S&P 500 dropped 6.21, or 0.29%, to 2,099.12.
14:04 EDTTMOPall Corp. a better strategic fit for Thermo Fisher than Danaher, says Mizuho
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12:34 EDTTMOOn The Fly: Top stock stories at midday
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11:43 EDTSYKStryker backs FY15 organic revenue growth of 5%-6%
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10:45 EDTTMOAnalyst says Pall deal may spark more life sciences M&A
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10:01 EDTEWOn The Fly: Analyst Upgrade Summary
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09:47 EDTTMOPall Corp. bids due later this week, CNBC's Faber reports
David Faber on CNBC reported that bids for Pall Corp. (PLL) from Danaher (DHR) and Thermo Fisher (TMO) are due later this week. The auction is being led by Goldman Sachs (GS), Faber adds. He notes Danaher is likely going to offer an all-cash bid whereas Thermo Fisher will use up to $2B of equity. Faber said an offer price of $120 per share for Pall is likely the top of the range. The Wall Street Journal reported last night some of these details.
07:46 EDTTMODanaher has upper hand to acquire Pall, says Jefferies
After the Wall Street Journal reported that Pall Corp. (PLL) is near a possible sale and listed Danaher (DHR) and Thermo Fisher (TMO) as potential buyers, Jefferies says it believes Danaher has the upper hand in getting the deal done given its greater relative balance sheet capacity. The firm views both companies as logical buyers for Pall and notes a takeout bid of around $13B implies a share price of $120. The firm has a Buy rating on Pall.
07:31 EDTTMOThermo Fisher acquisition of Pall Corp. could create 'powerhouse,' says UBS
UBS noted Thermo Fisher (TMO) was mentioned in a media report as a possible suitor for Pall Corp. (PLL) and feels if the two combine it could create a bio-production "powerhouse." The firm sees a potential deal as accretive and creating unparalleled scale. UBS also said that, based on current valuation, the potential for a deal is barely being priced into Thermo Fisher shares. UBS reiterated its Buy rating and $160 price target on Thermo Fisher shares.
06:48 EDTEWEdwards Lifesciences upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Edwards Lifesciences to Overweight following the 15% selloff since mid-March. The firm says its confidence in the conversion of the surgical valve replacement market to transcatheter replacement increased significantly at this year's ACC. It adds that its recent field work indicates the TAVR market has accelerated post-ACC. JPMorgan raised its price target for shares to $155 from $147.
06:35 EDTEWEdwards Lifesciences upgraded to Overweight from Neutral at JPMorgan
06:30 EDTTMOPall volatility flat, Danaher, Thermo Fisher to submit final bids, WSJ reports
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May 11, 2015
19:22 EDTTMODanaher, Thermo Fisher to submit final bids for Pall, WSJ says
Danaher (DHR) and Thermo Fisher (TMO) are competing to acquire Pall (PLL), with final bids due later this week, reports The Wall Street Journal, citing people familiar with the matter. A deal could be valued at $13B or more, notes the Journal. Reference Link
17:36 EDTPFEAthersys down 10.1% after Pfizer notified that it will terminate agreement
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17:34 EDTPFEAthersys receives notification that Pfizer will terminate agreement
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16:33 EDTPFEPfizer takes minority interest in AM-Pharma, secures option to acquire company
AM-Pharma and Pfizer announced that Pfizer has acquired a minority equity interest in AM-Pharma and secured an exclusive option to acquire the remaining equity in the company. The option becomes exercisable upon completion of a Phase II trial of recAP in the treatment of Acute Kidney Injury related to sepsis. There are no drugs currently approved for this condition and the only treatment option is dialysis and supportive care. Results from the current Phase II trial for recAP are expected in the second half of 2016. Under the terms of the agreement, Pfizer has made an upfront payment of $87.5M for the minority equity interest and exclusive option, with additional potential payments of up to $512.5M upon option exercise and potential launch of any product that may result from this agreement. Other terms of the transaction were not disclosed. “Pfizer is committed to advancing the science to address the high unmet medical need in Acute Kidney Injury,” said Mikael Dolsten, M.D., Ph.D., president, Worldwide Research and Development at Pfizer. “Clinical data for recAP show the potential to uniquely address Acute Kidney Injury in the setting of sepsis, and we look forward to working with our partners at AM-Pharma as we aim to accelerate the development of recAP into a potential first-in-class treatment for patients.”
10:30 EDTABTAbbott names Brian Yoor as SVP, Finance and CFO
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05:11 EDTRHHBYRoche receives FDA approval for cobas KRAS Mutation Test
Roche announced that the FDA has approved the cobas KRAS Mutation Test for diagnostic use. The real-time PCR test is designed to identify KRAS mutations in tumor samples from metastatic colorectal cancer, or mCRC, patients and aid clinicians in determining a therapeutic path for them.
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