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Stock Market & Financial Investment News

News For BSX;STJ;MDT From The Last 14 Days
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October 23, 2014
10:01 EDTBSXOn The Fly: Analyst Upgrade Summary
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05:33 EDTBSXBoston Scientific upgraded to Neutral from Sell at Goldman
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October 22, 2014
14:17 EDTBSXBoston Scientific upgraded to Buy from Hold at Benchmark Co.
Price target $15.
09:21 EDTBSXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Dow Chemical (DOW), up 3.7%... iRobot (IRBT), up 12%... Six Flags (SIX), up 13%... GlaxoSmithKline (GSK), up 2%... Broadcom (BRCM), up 7%... Boston Scientific (BSX), up 4.3%... Abbott (ABT), up 1.8%... Yahoo! (YHOO), up 6%. ALSO HIGHER: Blue Earth (BBLU), up 26.4% after CEO says statements in Seeking Alpha blog are "false and misleading."... GW Pharmaceuticals (GWPH), up 5.4% after Epidiolex receives orphan designation from EMA. DOWN AFTER EARNINGS: 3D Systems (DDD), down 15%... Biogen (BIIB), down 7%... Lumber Liquidators (LL), down 13.4%... Norfolk Southern (NSC), down 3%... Angie's List (ANGI), down 8.8%. ALSO LOWER: Nanosphere (NSPH), down 33% after filing secondary, reporting preliminary Q3 revenue... Himax Technologies (HIMX), down 16% after announcing that Google (GOOG) will not exercise an additional investment option in the company... Cree (CREE), down 10.5%, downgraded at DA Davidson and Canaccord following the company's Q1 earnings results... Ocwen Financial (OCN), down 7% after downgraded to Hold at Evercore, downgraded to Neutral at BofA Merrill Lynch... VMware (VMW), down 7.8%, downgraded at Nomura and Raymond James following the company's Q3 results.
08:43 EDTBSXBoston Scientific hasn't changed strategy in selling Synergy in Europe
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08:25 EDTBSXBoston Scientific sees foreign exchange to be $55M headwind in FY14
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08:16 EDTBSXBoston Scientific 'well ahead' of delivering EPS, revenue expectations
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07:21 EDTMDT, STJU.S. DHS investigates medical gear for potential cyber defects, Reuters says
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07:07 EDTBSXBoston Scientific raises FY14 adjusted EPS to 81c-83c from 79c-83c
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07:06 EDTBSXBoston Scientific sees Q4 adjusted EPS 20c-22c, consensus 21c
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07:05 EDTBSXBoston Scientific reports Q3 adjusted EPS 20c, consensus 20c
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October 21, 2014
15:35 EDTBSXNotable companies reporting before tomorrow's open
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09:52 EDTMDTCovidien rises after Medtronic maintains merger date language
Shares of Covidien (COV) are rising in early trading after Medtronic (MDT), in its latest regulatory filing answering questions for shareholders regarding its proposed takeover of the Irish drugmaker, left its language regarding the expected closing date unchanged. WHAT'S NEW: In its most recent filing, Medtronic again stated, "As of the date of this joint proxy statement/prospectus, the transaction is expected to be completed late in the fourth calendar quarter of 2014 or early 2015. However, no assurance can be provided as to when or if the transaction will be completed. The required vote of Medtronic and Covidien shareholders to adopt the required shareholder proposals at their respective special meetings, as well as the necessary regulatory consents and approvals, must first be obtained and other conditions specified in the conditions appendix must be satisfied or, to the extent applicable, waived." ANALYST REACTION: Research firm BTIG says Medtronic's amended regulatory filing on the Covidien transaction increases the firm's confidence of the deal closing by early 2015. The firm adds it would be "stunned" to see Medtronic walk away from the merger after the company again showed commitment to the acquisition. WHAT'S NOTABLE: AbbVie (ABBV) last night confirmed that the company and Shire (SHPG), another Irish domiciled drugmaker, agreed to terminate their proposed merger. AbbVie said its decision was based upon its assessment of the September 22 notice issued by the U.S. Department of Treasury, which re-interpreted longstanding tax principles in a "uniquely selective manner designed specifically to destroy the financial benefits of these types of transactions." AbbVie continued that the Treasury notice "introduced an unacceptable level of risk and uncertainty given the magnitude of the proposed changes" and the stated intention of the department to continue to revise tax principles to further impact such "tax inversion" transactions. AbbVie noted that it has agreed to pay Shire a break fee of approximately $1.64B due to the deal falling through. PRICE ACTION: In early trading, shares of Covidien trading in New York rose 4% to $88.86, Medtronic advanced 1% to $64.57, Shires gained 0.7% to $185.82 and AbbVie added 1.4% to $55.16.
09:43 EDTMDTAmended filing increases confidence in Covidien deal at BTIG
BTIG says Medtronic's (MDT) amended regulatory filing on the Covidien (COV) transaction increases its confidence of the deal closing by early 2015. The firm adds it would be "stunned" to see Medtronic walk away from the merger after the company again showed commitment to the acquisition. Shares of Covidien are up 3% to $88.11 in early trading.
09:11 EDTMDTMedtronic keeps language unchanged on merger closing date
Medtronic in its latest regulatory filing answering questions for shareholders regarding its proposed takeover of Covidien (COV) left the language unchanged around the expected closing date. The company again stated, "As of the date of this joint proxy statement/prospectus, the transaction is expected to be completed late in the fourth calendar quarter of 2014 or early 2015. However, no assurance can be provided as to when or if the transaction will be completed. The required vote of Medtronic and Covidien shareholders to adopt the required shareholder proposals at their respective special meetings, as well as the necessary regulatory consents and approvals, must first be obtained and other conditions specified in the conditions appendix must be satisfied or, to the extent applicable, waived."
09:03 EDTBSXBoston Scientific receives FDA and CE Mark approvals for CoverEdge leads
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October 20, 2014
08:16 EDTBSXBoston Scientific initiates PLATINUM Diversity trial
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07:20 EDTMDT, BSXInternational Continence Society to hold annual meeting
ICS Annual Meeting 2014 is being held in Rio de Janeiro, Brazil on October 20-24.
07:12 EDTSTJ, MDTCongress of Neurological Surgeons to hold annual meeting
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07:11 EDTBSXAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
October 16, 2014
16:32 EDTBSXBoston Scientific announces pacemaker CE mark with options for MRI
Boston Scientific has received CE Mark approval for the ACCOLADE pacemaker family. When implanted with the company's INGEVITY leads, ACCOLADE pacemakers are the first to enable patients to receive full-body MRI scans in both 1.5 Tesla and 3.0 Tesla systems. In addition, the Boston Scientific ImageReady technology offers the most flexible MRI options, allowing higher energy scan sequences, and featuring a programmable MRI timer designed to improve patient workflow. In addition to the CE mark approval and launch of the ACCOLADE pacemaker family, Boston Scientific received CE Mark approval for the VISIONIST and VALITUDE CRT-Ps with quadripolar pacing technology. When paired with the ACUITY X4 pacing leads, these systems offer many options to reach and pace the target location in the left ventricle, potentially improving the patient response to CRT therapy.
15:10 EDTBSXAmerican College of Gastroenterology to hold annual meeting
ACG Annual Scientific Meeting 2014 to be held in Philadlephia, PA on October 17-22.
09:08 EDTSTJSt. Jude Medical well-positioned heading into 2015, says Wedbush
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08:53 EDTSTJSt. Jude Medical weakness a buying opportunity, says CRT Capital
CRT Capital would use St. Jude Medical weakness as a buying opportunity based on accelerating EPS growth and expects CardioMEMS to be a $1B revenue opportunity over the next few years. Shares are Buy rated with a $80 price target.
07:45 EDTSTJSt. Jude Medical price target lowered to $66 from $75 at Stifel
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06:17 EDTMDTJefferies says Medtronic 'needs to do' Covidien takeover
Jefferies says it "can't see how Medtronic walks" from the Covidien (COV) takeover given how compelling the merger is. The firm confirmed with Medtronic (MDT) that nothing has changed in the company's commitment to the deal since new financing terms were announced on October 3. In Jefferies view, "Medtronic needs to do this deal." It notes the spread on the acquisition widened significantly on the news that Abbvie (ABBV) is reconsidering its acquisition of Shire (SHPG).
October 15, 2014
16:37 EDTMDTOn The Fly: Closing Wrap
The market opened sharply lower amid sliding oil prices, worse than expected economic data, and the potential for a major M&A deal to fall apart due to tax inversion rule changes. The Dow fell more than 350 points within the first 30 minutes of trading, but then bounced back to move above its opening level. The volatility did not end there, however, as the market swung several more times during the session. The S&P 500's drop wiped out its gains for the year at one point, but a late day rally significantly cut the losses for the major averages. ECONOMIC EVENTS: In the U.S., retail sales, which were expected to be down 0.1% in September, actually fell 0.3% in the month and slipped 0.2% excluding autos. The Producer Price Index for final demand decreased a seasonally adjusted 0.1% in September from the prior month, marking the first decline in the measure in over a year. The core PPI reading, which excludes food and energy, was unchanged, versus expectations for a 0.1% rise. New York's Empire State manufacturing index fell 21.4 points to 6.2 in October, severely missing the expectation for a narrower pullback to a reading of 20. Business inventories rose 0.2% in August, versus expectations for an increase of 0.4%. In China, the consumer price index climbed 1.6% in September from a year earlier, which was below the consensus projection for 1.7% inflation and down from 2% inflation in August. China's PPI plunged 1.8% year-over-year in September, which was more than the 1.6% slide expected and an acceleration of the 1.2% year-on-year decline in August. COMPANY NEWS: Shares of Shire (SHPG) plunged $74.08, or 30.29%, to $170.49 after AbbVie's (ABBV) board last night stated that it was reconsidering its recommendation that the company's shareholders back a takeover of Irish drugmaker in light of the potential impact of tax rule changes on the deal. During the day, Bloomberg reported that people familiar with the matter say AbbVie is close to abandoning its $51B takeover bid, while Shire announced that it has agreed to waive the requirement for three business days' notice for AbbVie's board to meet to consider its offer. In contrast, AbbVie ended the session up 50c, or 0.92%, at $54.63... Wal-Mart (WMT) held its annual meeting, during which it lowered its fiscal year 2015 net sales growth forecast to 2%-3%, citing a tougher sales environment than it anticipated a year ago. The company indicated in February that it expected net sales growth to be at the low end of its guidance provided last October of 3%-5%. The world's largest retailer also cut its planned retail square foot growth expectations, due to a moderation of large format store growth and accelerated e-commerce investments. Following the outlook revisions, Wal-Mart closed down $2.78, or 3.57%, to $75.20. MAJOR MOVERS: Among the notable gainers was Penford Corporation (PENX), which jumped $7.60, or 69.15%, to $18.59 after the company agreed to be acquired by Ingredion (INGR) for $340M, or $19.00 in cash per share. Also higher was Southwestern Energy (SWN), which rose $2.59, or 7.82%, to $35.69 after it was among a number of oil and gas exploration and production names upgraded by analysts at Bank of America Merrill Lynch. Among the noteworthy losers was Nu Skin (NUS), which dropped $4.47, or 9.13%, to $44.50 after the company disclosed new debt arrangements that come with certain restrictions, including restrictions on the payment of dividends. Also lower were shares of Covidien (COV), which fell $6.50, or 7.04%, to $85.86 in the wake of the news for Shire and AbbVie, which investors may have read as jeopardizing Covidien's deal to be bought by Medtronic (MDT). Note that on October 3 Medtronic announced that it intends to use approximately $16B in external financing to complete the acquisition of Covidien and said the strategic benefits of the transaction "remain compelling" despite the additional expense of the new financing. INDEXES: The Dow dropped 173.45, or 1.06%, to 16,141.74, the Nasdaq slipped 11.85, or 0.28%, to 4,215.32, and the S&P 500 fell 15.21, or 0.81%, to 1,862.49.
15:03 EDTMDTMedtronic management affirms commitment to Covidien deal, says Deutsche Bank
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10:48 EDTMDTShire tanks with AbbVie calling board meeting over merger
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08:37 EDTSTJSt. Jude Medical expects AF products revenue to accelerate in FY15
As the company look to FY15, aims to continue to accelerate its sales growth rate. Expects the acceleration to come from its men's heart failure monitor system and chronic pain business. Expects to grow sales faster in FY15 compared to FY14.
08:32 EDTSTJSt. Jude Medical sees YOY currency impact on sales $50M-$60M for Q4
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07:34 EDTSTJSt. Jude Medical reports Q3 total CRM sales $688M
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07:34 EDTSTJSt. Jude Medical narrows FY14 adjusted EPS view to $3.97-$3.99 from $3.96-$4.01
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07:32 EDTSTJSt. Jude Medical sees Q4 adjusted EPS $1.02-$1.04, consensus $1.04
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07:32 EDTSTJSt. Jude Medical Sees FY14 adjusted EPS $3.97-$3.99, consensus $3.98
Sees FY14 revenue $5.586B-$5.648B, consensus $5.69B.
07:31 EDTSTJSt. Jude Medical reports Q3 adjusted EPS 97c, consensus 96c
Reports Q3 revenue $1.37B, consensus $1.38B.
October 14, 2014
15:29 EDTSTJNotable companies reporting before tomorrow's open
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14:03 EDTMDTMedtronic announces FDA approval of pacing lead for full-body MRI scans
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08:19 EDTMDTMedtronic begins pivotal study of Predictive Low Glucose Management technology
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08:17 EDTMDTCapricor Therapeutics to acquire certain patent rights from Medtronic
Capricor Therapeutics (CAPR) announced that it has entered into an agreement to acquire patent rights from Medtronic (MDT) relating to the formulation and pump delivery of natriuretic peptides. Capricor recently announced that it plans to develop a clinical program using Cenderitide, a natriuretic peptide, for the treatment of post-acute heart failure.
October 13, 2014
09:22 EDTMDTMedtronic announces positive data from CoreValve ADVANCE DA Study
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07:25 EDTSTJEuropean Association of Cardiothoracic Surgery to hold annual meeting
28th EACTS Annual Meeting is being held in Milan, Italy on October 11-15.
07:13 EDTMDTBioFlorida to hold a conference
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October 10, 2014
07:04 EDTMDTMedtronic announces Omar Ishrak will remain CEO of new company
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