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Stock Market & Financial Investment News

News Breaks
July 13, 2014
20:22 EDTABT, MYLMylan near buying Europe-based drug portfolio from Abbott, Reuters says
Mylan (MYL) is in late stage talks to acquire a multibillion-dollar portfolio of established Europe-based drugs from Abbott Laboratories (ABT), says Reuters. According to the Reuters report from late Friday, the acquisition of foreign assets by Mylan may allow the U.S-based drug company to be eligible for a tax inversion. The monetary amount of the acquisition is not known but Reuters said it was previously told by sources that Abbott was looking to sell a portfolio of mature drugs that was valued at approximately $5B. Reference Link
News For ABT;MYL From The Last 14 Days
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July 23, 2014
07:09 EDTMYLMylan wins restraining order against Apotex for generic version of GSK's Paxil
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06:45 EDTABT, MYLLawmakers divided on inversion deals, NY Times says
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July 22, 2014
16:08 EDTMYLMylan initiated with a Buy at Deutsche Bank
Target $67.
July 18, 2014
16:47 EDTMYL, ABTMarket ends week higher as earnings, M&A offset geopolitical tensions
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12:51 EDTMYL, ABTKey GOP senator signals readiness for inversion deal, The Hill says
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July 17, 2014
11:07 EDTMYLAcorda sues Mylan over plans to duplicate Ampyra MS drug, Bloomberg says
07:18 EDTMYLMylan wins motion to enjoin GlaxoSmithKline from production of generic product
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07:06 EDTABTAbbott price target raised to $47 from $42 at Stifel
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July 16, 2014
10:36 EDTMYL, ABTTreasury calls on Congress to halt inversion deals
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09:25 EDTABTAbbott expects Global Nutrition sales to return to double digit growth in 2H14
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09:23 EDTABTOn The Fly: Pre-market Movers
HIGHER: Time Warner (TWX), up 15% after company confirmed that it rejected an $80B takeover offer from 21st Century Fox (FOX, FOXA), as had been reported earlier this morning... Apple (AAPL), up 2% after announcing an enterprise mobile partnership with IBM (IBM), which is also up 2%... International Game (IGT), up 9.5% after agreeing to be acquired by GTECH for $4.7B in cash and stock... FireEye (FEYE), up 5% after shares upgraded at Goldman... Precision Drilling (PDS), up 4% after announcing strategic agreement with Schlumberger (SLB), upgraded at Deutsche Bank... Mellanox (MLNX), up 4.7% following upgrade at Jefferies. UP AFTER EARNINGS: Intel (INTC), up 5.4%... HCA Holdings (HCA), up 6%... Textron (TXT), up 3.2%... Abbott (ABT), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 2.5%... MGIC Investment (MTG), down 3.6%. LOWER: Yahoo (YHOO), down 3% after downgraded at CRT Capital following second quarter earnings report... Ares Capital (ARCC), down 2.5% after filing to sell 11.85M shares of common stock... Nationstar (NSM), down 2.4% after downgraded at Wells Fargo... Walter Investment (WAC), which was also downgraded at Wells Fargo, down 1.6%.
09:17 EDTABTAbbott sees Q3 ongoing EPS 59c-61c, consensus 60c
Sees Q3 revenue growth in mid-single digits, consensus $5.63B. Expects neutral impact from foreign exchange.
09:16 EDTABTAbbott sees FY14 revenue growth in mid single digits, consensus $22.42B
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09:03 EDTMYL, ABTSanofi held talks on mature drugs with Abbott, Mylan, PE firms, Reuters says
Sanofi (SNY) has shopped an $8.5B portfolio of mature drugs to Abbott (ABT), Mylan (MYL) and private equity firms, according to Reuters, citing an internal company document circulated by the CGT union. Sanofi is considering whether to sell, carve out or create a joint venture for the portfolio of about 200 drugs, but a Sanofi spokesman said no decision has yet been made, the report noted. Reference Link
08:16 EDTABT, MYLLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
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07:59 EDTABT, MYLTreasury Secretary urges Congress to take action on tax inversions
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07:49 EDTABTAbbott reports Q2 Nutrition sales $1.73B; Reports Q2 Diagnostics sales $1.19B
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07:47 EDTABTAbbott says it's on track for sales growth acceleration in 2H14
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07:46 EDTABTAbbott raises FY14 ongoing EPS to $2.19-$2.29 from $2.16-$2.26, consensus $2.19
07:46 EDTABTAbbott reports Q2 ongoing EPS 54c, consenus 51c
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