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News Breaks
February 26, 2014
10:00 EDTITCI, INCY, COV, WCIC, TRVN, RTEC, GOLD, NUTR, LJPC, KLIC, IVAC, HELI, EPE, APLOn The Fly: Analyst Initiation Summary
Atlas Pipeline Partners (APL) initiated with a Hold at Deutsche Bank... CHC Group (HELI) initiated with a Buy at UBS... EP Energy (EPE) initiated with an Overweight at JPMorgan... Intevac (IVAC) initiated with a Neutral at B. Riley... Kulicke & Soffa (KLIC) initiated with a Buy at B. Riley... La Jolla Pharmaceutical (LJPC) initiated with an Outperform at Wedbush... Nutraceutical (NUTR) initiated with an Outperform at Imperial Capital... Randgold Resources (GOLD) initiated with a Buy at UBS... Rudolph Technologies (RTEC) initiated with a Buy at B. Riley... Trevena (TRVN) initiated with an Outperform at JMP Securities... WCI Communities (WCIC) reinstated with an Outperform at Credit Suisse... Covidien (COV) initiated with a Buy at CRT Capital... Incyte (INCY) coverage assumed with a Buy at BofA/Merrill... Intra-Cellular (ITCI) initiated with an Outperform at Cowen.
News For APL;EPE;HELI;IVAC;KLIC;LJPC;NUTR;GOLD;RTEC;TRVN;WCIC;COV;INCY;ITCI From The Last 14 Days
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August 31, 2014
14:00 EDTITCIFBR Capital to hold a conference
Healthcare Conference to be held in Boston on September 3.
August 29, 2014
16:28 EDTITCIIntra-Cellular files $150M mixed securities shelf
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August 28, 2014
09:57 EDTGOLDOn The Fly: Analyst Upgrade Summary
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07:05 EDTCOVCovidien acquires Sapheon, terms not disclosed
Covidien announced that it has acquired Sapheon, Inc., a privately-held developer of venous disease treatments. Financial terms of the transaction were not disclosed.
05:57 EDTGOLDRandgold Resources upgraded to Neutral from Underweight at HSBC
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August 27, 2014
06:56 EDTKLICKulicke & Soffa authorizes repurchase program of up to $100M
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August 26, 2014
19:33 EDTCOVCovidien shareholder sues to block sale to Medtronic, Bloomberg reports
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06:46 EDTAPLAtlas Pipeline Partners initiated with an Overweight at JPMorgan
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August 25, 2014
16:37 EDTIVACBecker Drapkin raises stake in Intevac to 8.9% from 7.9%
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08:01 EDTLJPCLa Jolla reports first patient enrolled in LJPC-501 trial
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August 22, 2014
07:01 EDTCOVCovidien acquires Reverse Medical, terms not disclosed
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05:12 EDTHELICHC Group announces investment by Clayton, Dubilier & Rice
CHC Group and Clayton, Dubilier & Rice, or CD&R, announced they have entered into definitive agreements for CD&R managed funds to invest $500M in CHC through the purchase of convertible preferred shares to be issued in a private placement. As part of the transaction, CHC also intends to pursue a $100M rights offering of the convertible preferred shares to existing shareholders. CD&R has agreed to purchase convertible preferred shares, if any are not purchased in the rights offering, which could bring CD&Rís total investment amount up to an aggregate of $600M. CHC plans to use proceeds from the investment primarily to reduce debt and other fixed charges. A portion of the proceeds is expected to be used to redeem $105M of senior unsecured notes and $130M of senior secured notes, plus associated premiums. CHC said remaining proceeds will be used to optimize the mix of owned versus leased aircraft, to further reduce debt opportunistically and for other general corporate purposes. Once the full investment of $600M is deployed, CHC projects it will generate approximately $50M-$60M in annualized incremental free cash flow, on a pro-forma basis beyond previous estimates. CD&R will have a 45% ownership position in CHC Group on an as-converted, pro-forma basis, based on a $500M investment and prior to the rights offering. This percentage could decrease or increase depending on participation of existing shareholders in the rights offering. First Reserve Corporation and its affiliates, which purchased CHC in 2008, would retain approximately 29% ownership in CHC, on a pro-forma basis.
August 20, 2014
16:02 EDTHELICHC Group unit selected to provide engine, component support to AAR Airlift
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07:48 EDTIVACIntevac management to meet with B. Riley
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07:18 EDTCOVMedtronic shares have upside with or without deal, says Deutsche Bank
Deutsche Bank sees limited downside risk and significant upside potential for shares of Medtronic (MDT), with or without the pending Covidien (COV) acquisition. Deutsche says the Q1 results show improving trends and it keeps a Buy rating on Medtronic with an $85 price target.
August 19, 2014
08:22 EDTCOVMedtronic: We will continue to pay significant US taxes following Covidien deal
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