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Stock Market & Financial Investment News

News Breaks
April 18, 2012
07:47 EDTABTAbbott says split "on track to be completed by the end of the year"
News For ABT From The Last 14 Days
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September 23, 2014
10:54 EDTABTStocks, analysts react to Treasury inversion crackdown
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09:13 EDTABTOn The Fly: Pre-market Movers
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08:53 EDTABTInversion regulations look more onerous than expected, says FBR Capital
FBR Capital says the new regulations announced last night by the Treasury and IRS contain appear more onerous than expected. FBR points out the proposed changes remove the ability of inverting companies to make "hopscotch loans" between the foreign and domestic subsidiaries. The firm believes the regulations will not end the practice of inversions, and it still expects completion of already announced deals.
06:28 EDTABTTreasury rules may put Mylan deal at risk, says BMO Capital
BMO Capital believes Treasury's new inversion rules may put the tax benefits of Mylan's (MYL) planned acquisition of Abbott's (ABT) established products business at risk. BMO also thinks the rules impact Salix's (SLXP) pending deal for Cosmo Pharmaceuticals, which it feels may help make a deal with Allergan (AGN) more likely.
05:56 EDTABTTreasury, IRS announce plans to reduce inversion tax benefits
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September 22, 2014
07:06 EDTABTAbbott price target raised to $48 from $44 at RBC Capital
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September 19, 2014
11:25 EDTABTSenators bring bill requiring companies to settle before inverting
U.S. Senators Sherrod Brown and Dick Durbin announced new legislation requiring corporations to "Pay What You Owe Before You Go" – settling their U.S. tax bill before relocating to a foreign country. "Everyone knows that before you leave a restaurant you have to settle your tab," Brown said. "Corporations shouldn’t get to play by different rules. While it is critical that we reach a long-term solution that reforms our international corporate tax code by implementing a global minimum tax and reducing the statutory tax rate, this bill is an immediate, commonsense measure to ensure businesses settle up before leaving the U.S." Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Allergan (AGN).
September 16, 2014
11:51 EDTABTOECD looks to close tax loopholes with new proposals
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September 15, 2014
09:32 EDTABTAbbott initiates ABSORB IV trial
Abbott announced the start of the ABSORB IV clinical trial, which will test whether its Absorb Bioresorbable Vascular Scaffold is more cost-effective and offers a higher quality of life than a permanent, metallic drug eluting stent. Unlike a metallic stent, Absorb completely dissolves over time after doing its job. ABSORB IV is designed to enroll approximately 3K people with coronary artery disease, mostly in the U.S. The ABSORB IV trial is designed to confirm these novel findings that treatment with the Absorb device can help provide people with heart disease a higher quality of life after a heart stent procedure. The data from the ABSORB IV trial will be combined with the data from the ABSORB III trial to create a population of more than 5K people studied in the U.S. This data set, which is the largest of its kind for bioresorbable heart devices, provides an opportunity to evaluate the performance of Absorb compared to the current standard of a metallic drug eluting stent across a number of measures, including the broader health economic impact of this innovative therapy.
07:45 EDTABTCardiovascular Research Foundation to hold a conference
Transcatheter Cardiovascular Therapeutics: TCT 2014 to be held in Washington, D.C. on September 13-17 with some presentations being webcasted. Webcast Link
September 14, 2014
13:30 EDTABTAbbott announces positive one-year clinical results from ABSORB II
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September 11, 2014
13:41 EDTABTAbbott announces new $3B share repurchase program
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September 9, 2014
06:42 EDTABTLew expects to make decision on combating inversion deals soon, NY Times reports
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