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Stock Market & Financial Investment News

News Breaks
June 20, 2014
10:08 EDTTAP, PAG, AN, UFS, ENTG, ESL, KMP, KR, MDTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Autonation (AN) upgraded at Goldman... Domtar (UFS) upgraded to Neutral from Sell at Citigroup... Entegris (ENTG) upgraded to Overweight from Equal Weight at First Analysis... Esterline (ESL) upgraded at Canaccord... Kinder Morgan Energy (KMP) upgraded to Buy from Neutral at UBS... Kroger (KR) upgraded to Neutral from Sell at Goldman... Medtronic (MDT) upgraded to Buy from Hold at Jefferies... Molson Coors (TAP) upgraded at Morgan Stanley... Penske Automotive (PAG) upgraded to Neutral from Sell at Goldman.
News For AN;UFS;ENTG;ESL;KMP;KR;MDT;TAP;PAG From The Last 14 Days
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September 23, 2014
07:05 EDTMDTMedtronic will still pursue Covidien deal, says Citigroup
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05:56 EDTMDTTreasury, IRS announce plans to reduce inversion tax benefits
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September 22, 2014
09:32 EDTMDTMedtronic announces CE Mark, European launch for TYRX envelope
Medtronic has received CE, or Conformité Européenne, Mark for the TYRX Absorbable Antibacterial Envelope, which covers an implantable cardiac device to help stabilize the device after implantation and reduce surgical-site infections.
September 19, 2014
12:39 EDTKMPKinder Morgan spends over $1.5B for hub construction, Reuters says
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11:25 EDTMDTSenators 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).
06:03 EDTTAPStocks with implied volatility movement; TAP RSH
Stocks with implied volatility movement; Molson Coors (TAP) 31, RadioShack (RSH) 247 according to iVolatility.
September 18, 2014
14:52 EDTKRKroger testing online ordering, pick-up service, Progressive Grocer says
Kroger is testing a "click-and-collect system" in Cincinnati which allows customers to submit their orders online and pick them up at a drive-thru windows, Progressive Grocer reports. The technology that Kroger is utilizing is the same technology that has been deployed by Harris Teeter, a company that Kroger acquired last year. "Harris Teeter has successfully scaled this model in their stores and we are learning a lot from them about it. Our approach with new technologies and systems is to test small and work out the kinks before scaling more widely," said Rachel Betzler, public relations manage for Kroger's Cincinnati division. Reference Link
14:06 EDTKRKroger price target raised to $58 from $55 at Argus
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12:18 EDTMDTNY AG announces national settlement with Medtronic for Medicaid violations
Attorney General Eric T. Schneiderman announced that 46 states and the District of Columbia have reach a settlement agreement with Minnesota-based company Medtronic to resolve claims under the False Claims Act that Medtronic improperly induced physicians to recommend Medtronic devices to treat cardiac rhythmic disease. New York led a national team composed of members from Oregon, Texas and California to negotiate the settlement. The federal government settled its matter in May of this year...The agreement requires Medtronic to pay the settling states $362,362, which will go to those states’ Medicaid programs. The matter was brought by a whistleblower, Adolfo Schroeder, and was filed in U.S. District Court for the Eastern District of California. The Attorney General would like to thank Mr. Schroeder for bringing this matter to the government’s attention. Under the terms of the agreement, the New York Medicaid Program will receive $67,369.31. Reference Link
10:44 EDTKRKroger board raises quarterly dividend by 12% to 18.5c
Kroger's Board raised the quarterly dividend by 12% to 18.5¢ per share, to be paid on December 1 to shareholders of record as of the close of business on November 14. The company continues to expect an increasing dividend over time.
05:59 EDTTAPMolson Coors implied volatility of 34 at upper end of index mean range
September 17, 2014
17:09 EDTKMPTGP offers Maine long-term contract for natural gas pipeline capacity
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11:16 EDTTAPOptions with increasing implied volatility:
Options with increasing implied volatility: WB SDRL TAP AGNC IYR SKX
11:02 EDTKROptions with decreasing implied volatility
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10:48 EDTTAPHigh option volume stocks
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09:31 EDTKRHouse Committee on Ways & Means to hold a hearing
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09:08 EDTMDTMedtronic launches new Balloon Kyphoplasty Platform
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07:43 EDTMDTBofA/Merrill to hold a conference
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06:09 EDTMDTIntegra LifeSciences to acquire Medtronic instrumentation lines for $60M
Integra LifeSciences (IART) and Medtronic (MDT) announced an agreement in which Integra will acquire Medtronic's MicroFrance and Xomed manual ENT and laparoscopy instrumentation lines for approximately $60M in cash. Integra expects the transaction to close in Q4. Integra will acquire a portfolio of approximately 4,000 MicroFrance and Xomed manual ENT and laparoscopic surgical instruments, as well as the St. Aubin le Monial, France manufacturing facility. Sales from the products being acquired totaled approximately $30M, two-thirds of which were generated outside the U.S. Integra expects to record approximately $27M-$30M in revenue and approximately 10c of adjusted EPS in calendar 2015 from this acquisition. The earnings accretion should rise after the first year once certain sales transitions are complete. The company expects the acquisition to contribute less than $5M in revenue and be neutral to earnings in Q4. The transition and integration is expected to be completed by 2H15.
05:56 EDTTAPMolson Coors implied volatility of 33 at upper end of index mean range
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