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Stock Market & Financial Investment News

News Breaks
March 27, 2013
06:25 EDTBDX, HSP, TEVA, NVSInjectable drug shortages may ease with rising interest, WSJ reports
The shortage of injectable drugs used by hospitals could ease as more healthcare companies look to become new manufacturers, Wall Street Journal reports. Becton Dickinson (BDX) became the latest player in the $7B market with yesterday's approval for an antihistamine, the paper adds. Reference Link
News For BDX;HSP;TEVA;NVS From The Last 14 Days
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October 6, 2014
17:09 EDTBDXBecton Dickinson acquisition of CareFusion will benefit investors, Barron's says
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16:20 EDTBDXOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory and appeared ready to ride the wave of optimism from Friday’s jobs report into the new week. However, with little on the economic calendar to sustain the momentum, each of the major equity indexes had given up their gains by noon. The Dow and S&P 500 made it back to flat late in the session, but weakened into the close to end the day slightly lower. The tech-heavy Nasdaq was the laggard throughout and ended the day with the most significant decline. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Hewlett-Packard (HPQ) climbed $1.67, or 4.74%, to $36.87 after it confirmed plans to split itself into two publicly traded companies by the end of its fiscal 2015. One company will include HP's technology infrastructure, software and services businesses, to be known as "Hewlett-Packard Enterprise," while the other will include the company's PC and printing businesses and be called "HP Inc." After the announcement, HP shares were upgraded to Outperform from Neutral at Credit Suisse, while analysts at Cantor called the split "a bold and smart move" that will give HP the financial flexibility needed to sell off one or both of the PC and printing businesses if an attractive offer emerges for either or both. MAJOR MOVERS: Among the notable gainers was Durata Therapeutics (DRTX), which surged $10.36, or 74.64%, to $24.24 after the company agreed to be acquired by larger drugmaker Actavis (ACT) for $23.00 per share in cash, or approximately $675M, and contingent value rights for additional cash payments of up to $5.00 per share if certain regulatory or commercial milestones related to Durata's lead product are achieved. Also higher was CareFusion (CFN), which jumped $10.58, or 22.92%, to $56.75 after agreeing to be acquired by Becton Dickinson (BDX) for $49 in cash and 0.0777 of a share of BD for each share of CareFusion, or about $12.2B. Becton Dickinson rose $9.14, or 7.89%, to $124.98 after its deal, while Actavis slipped $2.12, or 0.86%, to $243.95, after its own, much smaller purchase. GT Advanced Technologies (GTAT) plunged $10.22, or 92.46%, to 83c after the company announced that it and some of its units had commenced voluntary cases under chapter 11 of the bankruptcy code, which Raymond James believes implies a "fundamental, severe breakdown" of the company's relationship with Apple (AAPL). Also lower were shares of Sunesis (SNSS), which dropped $5.18, or 78.01%, to $1.46 and was downgraded at RBC Capital and Wells Fargo after a trial of a combination therapy for patients with first relapsed or refractory acute myeloid leukemia did not meet its primary endpoint. INDEXES: The Dow slid 17.78, or 0.1%, to 16,991.91, the Nasdaq fell 20.82, or 0.47%, to 4,454.80, and the S&P 500 slipped 3.08, or 0.16%, to 1,964.82.
14:26 EDTBDXCareFusion downgraded to Neutral from Overweight at Piper Jaffray
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12:41 EDTBDXOn The Fly: Midday Wrap
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11:58 EDTTEVATeva simplifaction plans expected but positive, says BMO Capital
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11:16 EDTBDXBecton Dickinson agrees to buy CareFusion for $12.2B, shares rise
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10:18 EDTBDXBecton Dickinson price target raised to $141 from $127 at Piper Jaffray
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10:14 EDTBDXHigh option volume stocks
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10:04 EDTBDXOn The Fly: Analyst Upgrade Summary
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09:25 EDTBDXOn The Fly: Pre-market Movers
HIGHER: HP (HPQ), up 5% after confirming plans to separate into two companies... CareFusion (CFN), up 24% after Becton Dickinson (BDX) agreed to acquire the company for $58 per share in $12.2B deal. Becton Dickinson shares are up 7% following the news... Chimerix (CMRX), up 7% after announcing announced that brincidofovir has been provided for potential use in patients with Ebola Virus Disease... Conn's (CONN), up 6.5% after announcing that it is exploring strategic alternatives... TASER (TASR), up 5% after announces multiple orders of TASER Smart Weapons... Tableau (DATA), up 3.5% after upgraded at Morgan Stanley... Splunk (SPLK), up 3.9% after upgraded at Morgan Stanley... Unilife (UNIS), up 52% after signing a 15-year commercial supply agreement with Sanofi (SNY). LOWER: RadioShack (RSH), down 5% after confirming definitive agreements to restructure debt... Alcobra (ADHD), down 43% after announcing results from Phase III study of MDX in adult ADHD... Sunesis (SNSS), down 71% after announcing Phase 3 VALOR trial did not meet primary endpoint... H&R Block Bank (HRB), down 5% after deal with BofI (BOFI) not expected to get regulatory approval this year. Tekmira (TKMR), down 8% after downgraded at Leerink.
08:32 EDTTEVATeva identifies 14 pipeline projects for discontinuation or divestment
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08:32 EDTTEVATeva announces results of strategic review of core specialty therapeutic areas
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08:23 EDTBDXBD says will have presence in nearly every country after CareFusion deal
Becton Dickinson (BDX) says that its acquisition of CareFusion (CFN) creates a "stronger" platform for diversified growth for the company. Says will leverage BD's "strong" international presence to accelerate growth of CareFusion products. Says the deal is consistent with BD's long-term revenue growth aspirations. Says emerging markets are a "key" growth driver for BD. Says will move to cash earnings going forward. Says expected revenue growth synergies from the deal have not been taken to account in the company's finances at this time. Says "well-positioned for continued success." Comments made during the company's presentation regarding the CareFusion acquisition.
08:04 EDTNVSBristol-Myers announces Opdivo clinical trial with Novartis therapies
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07:42 EDTBDXCareFusion volatility low into Becton Dickinson acquiring in $12.2B deal
CareFusion (CFN) overall option implied volatility of 21 compares to its 26-week average of 24 according to Track Data, suggesting decreasing price movement into Becton Dickinson (BDX) purchasing for $58 per share in cash and stock.
07:30 EDTBDXBecton Dickinson volatility flat into acquiring CareFusion in $12.2B deal
Becton Dickinson (BDX) overall option implied volatility of 15 is at its 26-week average according to Track Data, suggesting non-directional price movement into purchasing CareFusion (CFN) for $58 per share in cash and stock.
07:17 EDTBDXBecton Dickinson feels CareFusion deal will cut healthcare costs
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06:20 EDTBDXBecton Dickinson upgraded to Neutral from Underweight at JPMorgan
JPMorgan upgraded Becton Dickinson (BDX) to Neutral after the company announced an agreement to acquire CareFusion (CFN) for $12.2B.
05:43 EDTBDXBecton Dickinson and CareFusion to host joint conference call
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05:14 EDTNVSNovartis announce clinical collaboration with Bristol-Myers
Novartis (NVS) announced that it has entered into a clinical collaboration with Bristol-Myers Squibb (BMY) to evaluate the safety, tolerability and preliminary efficacy of three molecularly targeted compounds in combination with Bristol-Myers Squibb's investigational PD-1 immune checkpoint inhibitor, Opdivo, in Phase I/II trials of patients with non-small cell lung cancer, or NSCLC. Both studies will be conducted by Novartis. One trial will evaluate the combination of Opdivo with Zykadia, an FDA-approved treatment for patients with anaplastic lymphoma kinase-positive metastatic NSCLC who have progressed on or are intolerant to crizotinib. A second study will investigate Opdivo with INC280, a potent and highly selective inhibitor of c-MET receptor tyrosine kinase, and separately with EGF816, a potent, third-generation EGFR tyrosine kinase inhibitor that is active against T790 mutations. INC280 and EGF816 are currently being investigated in various Phase I/II NSCLC trials. Additional details of the collaboration were not disclosed.
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