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Stock Market & Financial Investment News

News Breaks
April 25, 2014
14:25 EDTSTJ, STJ, STJ, ATRC, ATRC, ATRC, BSX, BSX, BSX, MDT, MDT, MDTLeerink's medical devices analyst holds an analyst/industry conference call
Medical Devices Analyst Antalffy provides a preview of the upcoming Heart Rhythm Society's Annual Scientific Sessions Meeting and major CRM products including Boston Scientific's Watchman on an Analyst/Industry conference call to be held on April 30 at 3 pm.
News For ATRC;BSX;MDT;STJ From The Last 14 Days
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March 2, 2015
07:10 EDTBSXEndo to sell AMS urology portfolio to Boston Scientific for up to $1.65B
Boston Scientific (BSX) announced that it has entered into a definitive agreement with Endo International (ENDP) to acquire the American Medical Systems' urology portfolio, which includes the Men's Health and Prostate Health businesses, for $1.6B in up-front cash and a potential additional $50M milestone based on 2016 sales. The company expects to close the transaction in the third quarter of 2015, subject to customary closing conditions. Upon completion of the transaction, the AMS Men's Health and Prostate Health businesses will become part of Boston Scientific Urology and Women's Health. The acquisition encompasses the AMS product portfolio for treating urologic conditions, including benign prostatic hyperplasia, male stress urinary incontinence and erectile dysfunction. These technologies complement Boston Scientific's strong kidney stone, pelvic organ prolapse, female stress urinary incontinence and abnormal uterine bleeding treatment portfolios, and together, will provide customers with a comprehensive urology, urogynecology and gynecologic surgery portfolio. The AMS women's health business for treating pelvic organ prolapse and female stress urinary incontinence is not included in the transaction. The AMS Men's Health and Prostate Health businesses generated 2014 sales of approximately $400M and adjusted operating income of approximately $130M, excluding amortization and certain allocated expenses. GAAP operating income, including amortization and certain allocated expenses, was approximately $60M in 2014. The acquisition is expected to result in annual pre-tax synergies in excess of $50M by the end of 2018. On an adjusted basis, the transaction is expected to be breakeven to adjusted earnings per share in 2015, accretive by at least 3c in 2016, approximately 7c in 2017, and increasingly accretive thereafter. The transaction is expected to be less accretive, or dilutive, as the case may be, on a GAAP basis 2015 through 2017, due to amortization expense and transaction and integration costs. The acquisition is being structured as an asset purchase for tax purposes. Boston Scientific intends to finance the acquisition through a combination of existing and newly committed credit facilities.
07:08 EDTBSXEndo to sell AMS urology portfolio to Boston Scientific for up to $1.65B
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07:08 EDTBSXBoston Scientific enters $1.65B agreement with Endo to acquire urology portfolio
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February 27, 2015
09:02 EDTMDTMedtronic announces Irish High Court approval of share premium reduction
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February 26, 2015
12:43 EDTSTJSt. Jude Medical management to meet with Piper Jaffray
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February 24, 2015
14:31 EDTBSXBoston Scientific deal for Endo unit would be favorably received, says Needham
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13:02 EDTMDTMedtronic confirms FDA approval of VenaSeal closure system
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12:40 EDTBSXBoston Scientific may strike deal for Endo AMS unit within weeks, Reuters says
Boston Scientific (BSX) is reportedly close to buying Endo International's (ENDP) AMS medical device unit which could be valued at roughly $2B, reports Reuters, citing people familiar with the matter. The sources said the companies want to finalize a deal "within a matter of weeks" but cautioned that talks are continuing and could still fail. Reference Link
12:14 EDTBSXEndo near deal to sell AMS device unit to Boston Scientific, Reuters says
10:00 EDTSTJOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AMC Networks (AMCX) downgraded to Neutral from Outperform at Macquarie... American Airlines (AAL) downgraded to Market Perform at Cowen... Armstrong World (AWI) downgraded to Hold from Buy at KeyBanc... Basic Energy (BAS) downgraded to Outperform from Strong Buy at Raymond James... CSC (CSC) downgraded at Stifel... Chevron (CVX) downgraded to Perform from Outperform at Oppenheimer... Choice Hotels (CHH) downgraded to Underweight from Equal Weight at Barclays... Eni SpA (E) downgraded to Underperform from Hold at Jefferies... Fifth Street Asset (FSAM) downgraded to Neutral from Outperform at Credit Suisse... HSBC (HSBC) downgraded to Neutral from Buy at UBS... Home Loan Servicing (HLSS) downgraded to Neutral from Overweight at Piper Jaffray... Huntington Ingalls (HII) downgraded to Underperform from Neutral at Credit Suisse... International Paper (IP) downgraded to Hold from Buy at Deutsche Bank... Kayne Anderson (KED) downgraded at Stifel... Landstar System (LSTR) downgraded to Hold from Buy at Deutsche Bank... Multi-Color (LABL) downgraded to Neutral from Long-Term Buy at Hilliard Lyons... Newmont Mining (NEM) downgraded to Neutral from Overweight at HSBC... ONEOK Partners (OKS) downgraded to Underweight from Neutral at JPMorgan... ONEOK (OKE) downgraded to Underweight from Neutral at JPMorgan... Olympic Steel (ZEUS) downgraded to Underperform from Neutral at Credit Suisse... Polypore (PPO) downgraded to Market Perform from Outperform at William Blair... Rosetta Resources (ROSE) downgraded to Equal Weight from Overweight at Stephens... Salix (SLXP) downgraded to Neutral from Buy at UBS... Sprint (S) downgraded to Sell from Neutral at BTIG... St. Jude Medical (STJ) downgraded to Underperform from Outperform at Credit Suisse... Timmins Gold (TGD) downgraded on lack of near-term production catalysts at RBC Capital... Transocean Partners (RIGP) downgraded to Underweight from Equal Weight at Barclays... Vodafone (VOD) downgraded to Underperform from Neutral at BofA/Merrill... Williams Partners (WPZ) downgraded to Neutral from Buy at Citigroup... Williams (WMB) downgraded to Neutral from Buy at Citigroup... Worthington (WOR) downgraded to Neutral from Outperform at Credit Suisse... Zillow Group (Z) downgraded at Macquarie.
08:32 EDTATRCAtriCure announces enrollment of first two patients in DEEP study
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07:54 EDTATRCAtriCure underappreciated and undervalued, says Canaccord
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07:14 EDTSTJSt. Jude Medical downgraded to Underperform from Outperform at Credit Suisse
Credit Suisse downgraded St. Jude Medical two notches to Underperform based on expectations the Cardiac Rhythm Management segment and shares will under perform peers given competition from Medtronic's (MDT) Quadriplar ICD U.S. launch, Boston Scientific's (BSX) next-gen launch of its subcutaneious ICD, MRI-safe ICD competition in Japan, and the delay in the return of St. Jude's Nanostim to the European market. Price target is $74.
February 23, 2015
16:07 EDTATRCAtriCure sees FY15 revenue $122.5M-$124.5M, consensus $122.43M
Sees FY15 adjusted EBITDA to be a loss in the range of ($7M)-($9M).
16:06 EDTATRCAtriCure reports Q4 EPS (20c), consensus (20c)
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08:40 EDTMDTMedtronic acquires Advanced Uro-Solutions, terms not disclosed
Medtronic announced that it has acquired Advanced Uro-Solutions, a privately-held developer of neurostimulation products for the treatment of bladder control issues based in Elizabethton, Tennessee. Terms of the acquisition agreement, which closed in December 2014, were not disclosed.
February 20, 2015
14:43 EDTSTJSt. Jude Medical raises quarterly dividend 7%
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12:19 EDTMDTFDA approves closure system to permanently treat varicose veins
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07:08 EDTBSXAmerican Academy of Allergy, Asthma and Immunology to hold annual meeting
2015 Annual Meeting of AAAAI is being held in Houston, Texas on February 20-24.
February 19, 2015
16:15 EDTMDTMedtronic SANTE trial data show sustained safety, improvements in QOLIE-31
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