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Stock Market & Financial Investment News

News Breaks
July 14, 2014
16:30 EDTFHCO, RVBD, PRGO, ABBV, MYL, SHPG, AAPL, ABT, COn The Fly: Closing Wrap
Stocks on Wall Street began the session sharply higher and then continued to trade in a very narrow range throughout the rest of the day. The higher start was attributed to the host of M&A deals that occurred over the weekend and renewed optimism over the second quarter earnings season following Citigroup's (C) better than expected headline results. ECONOMIC EVENTS: No major economic data was released in the U.S. COMPANY NEWS: Shares of Citigroup advanced $1.42, or 302%, to $48.42 after its headline earnings and revenue beat expectations. Also, the bank announced that it has reached a $7B settlement that resolves actual and potential civil claims by the Department of Justice, several state attorneys general and the Federal Deposit Insurance Corporation relating to RMBS and collateralized debt obligations issued, structured or underwritten by Citi between 2003 and 2008... Mylan (MYL) struck a deal to buy Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in an all-stock transaction valued at about $5.3B. Under the terms of the deal, Abbott will carve out the assets and transfer them to a new public company organized in the Netherlands. Mylan will then merge with that company to become a new public company, called Mylan N.V., allowing it certain tax advantages. Abbott will receive 105M shares of the combined company, meaning it will hold an approximate 21% stake in Mylan following the deal. Shares of both companies advanced after the announcement, with Abbott gaining 52c, or 1.26%, to $41.82 and Mylan rising $1.04, or 2.07%, to $51.24... Shire (SHPG) announced that it requested, and has received, an increased takeover proposal following talks with AbbVie (ABBV). Shire said it would be willing to recommend the raised cash and stock offer, which has an indicative value of GBP 53.20 per Shire share based on AbbVie's share price on July 11, to its shareholders, potentially paving the way for a final deal between the two. After the announcement, Shire shares trading in New York rose $5.21, or 2.09%, to $254.27, while AbbVie declined 11c, or 0.2%, to $54.85. MAJOR MOVERS: Among the notable gainers was Apple (AAPL), which rose $1.23, or 1.29%, to $96.45 after Barclays upgraded its stock to Overweight and raised its price target for the shares to $110 from $95, citing channel checks that indicate near-term upside to consensus estimates and strong new products into 2015. Meanwhile, Morgan Stanley reported that its survey results suggests June quarter iPhone demand upside and the firm raised its iPhone unit estimate and its EPS estimate for Apple's coming quarter above the consensus forecasts. Also higher were shares of Perrigo (PRGO), which rose $12.70, or 8.69%, to $158.85 after Israel's "Globes" financial website, citing sources, said the company has hired an investment bank and seeks a merger with a "major pharmaceutical firm." Among the noteworthy losers was The Female Health Company (FHCO), which fell 79c, or 14.16%, to $4.79 after announcing plans to suspend payment of quarterly dividends and devote cash flows towards strategic initiatives planned to accelerate the company's long-term growth in revenue and earnings. Also lower was Riverbed (RVBD), which fell $1.75, or 8.6%, to $18.60 after the company cut its second quarter adjusted EPS and revenue outlook. Afterward, activist investor Elliot Management reaffirmed its prior $21 per share bid for the company and urged the company's board to "immediately" retain an advisor and announce a review of strategic alternatives, including a sale. INDEXES: The Dow advanced 111.61, or 0.66%, to 17,055.42, the Nasdaq gained 24.93, or 0.56%, to 4,440.42, and the S&P 500 rose 9.53, or 0.48%, to 1,977.10.
News For C;AAPL;MYL;ABT;SHPG;ABBV;PRGO;RVBD;FHCO From The Last 14 Days
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August 18, 2015
08:02 EDTCSS&C acquires Citi's alternative investor services business
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07:56 EDTCCiti reports July credit loss 2.33% vs. 2.49% last month
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07:32 EDTMYLMylan sued in connection with filing of ANDA for Abiraterone Acetate Tablets
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06:30 EDTAAPLU.S. PTO views Apple D'677 iPhone design patent as invalid, Foss Patents says
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06:15 EDTAAPLNew Apple TV's OS to be TV-optimized version of iOS 9, 9to5Mac reports
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05:55 EDTAAPLQualcomm to supply all modem chips for next iPhone, DigiTimes reports
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August 17, 2015
19:12 EDTAAPLNew Apple TV device to feature iPhone-like interface, 9to5Mac says
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18:46 EDTAAPLGerman carriers prepare for September launch of next iPhone, AppleInsider says
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17:44 EDTAAPLApple says services, store, cloud may be down for some users, Bloomberg reports
16:00 EDTAAPLOptions Update; August 17, 2015
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14:24 EDTCCiti reports July credit loss 2.33% vs. 2.49% last month
Reports July delinquencies 1.46% vs. 1.42% last month.
10:39 EDTCCitigroup affiliates to pay $180M in SEC settlement
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10:05 EDTAAPLApple preparing first Kangaroo bond, Reuters reports
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09:38 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT
08:22 EDTAAPLSprint customers can upgrade iPhone anytime, included in monthly rate
Sprint (S) announced that customers can upgrade their Apple (AAPL) iPhone anytime, included in their monthly rate. New and upgrade eligible Sprint customers can get iPhone for just $22 per month with iPhone Forever. Anytime customers don't have the latest iPhone, they are eligible to upgrade. They bring their iPhone, upgrade on the spot and away they go. It's that simple. iPhone Forever is available on any eligible Sprint rate plan and upgrade eligibility is always included in your price. New or existing customers who are upgrade eligible can bring in any smartphone and get a 16GB iPhone 6 model and their monthly rate will be reduced to just $15 until their next upgrade. As a special promotion, customers who get iPhone 6 and upgrade before December 31 continue with the discount price of $15 until their next upgrade.
07:54 EDTAAPLApple iPhone sales likely to fall in start of fiscal 2016, says Pacific Crest
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06:56 EDTCDOJ probes Citi dealings with Carlos Hank Rhon companies, Bloomberg says
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06:55 EDTSHPGBaxalta initiated with an Outperform at William Blair
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06:48 EDTSHPGShire to raise Baxalta offer if given access to company's books, Telegraph says
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06:38 EDTAAPLApple Watch revenue leader in wearable category, Business Insider reports
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