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Stock Market & Financial Investment News

News Breaks
July 14, 2014
16:30 EDTPRGO, FHCO, RVBD, ABT, C, ABBV, MYL, SHPG, AAPLOn 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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May 11, 2015
09:56 EDTAAPLIDC: Apple leads smartphone vendors in China during Q1
IDC’s latest Mobile Phone Tracker shows the China smartphone market contracted by 4% year-on-year with 98.8M units shipped in the first quarter of 2015. This is the first time in six years that the China smartphone market declined YoY as the market continues to mature. On a QoQ basis, the market contracted 8% on the back of a large inventory buildup at the end of last year. The study said Apple (AAPL) was the top smartphone vendor in China in the first quarter, with consumers still having a strong appetite for the larger screens on the iPhone 6 and iPhone 6 Plus. Xiaomi slipped to the second position as it faced strong competition from other vendors in the low to mid-range segment of the market, while Huawei maintained third position as it saw a good uptake in the mid-range segment. Samsung (SSNLF) and Lenovo (LNVGY) both led the market at least once last year, but rankings have since changed quickly, highlighting the volatility of consumers' brand preference in China. Reference Link
09:37 EDTAAPLActive equity options trading on open
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09:28 EDTCCiti says DOJ talks could include guilty plea on antitrust charge
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09:14 EDTCCiti says DOJ declined prosecution with respect to LIBOR
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08:41 EDTAAPLApple Watch may become 'must have' as interface to internet, says UBS
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08:18 EDTCBanks executives seek to push back on 'false, damaging' statements, WSJ reports
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06:44 EDTAAPLFiat Chrysler CEO met with Apple, Tesla CEOs, Reuters says
During a trip to California, Fiat Chrysler (FCAU) CEO Sergio Marchionne met with Apple (AAPL) CEO, Tim Cook, and Tesla (TSLA) CEO Elon Musk, reports Reuters, citing Marchionne. Marchionne also vowed that the company would make a stronger attempt in the luxury SUV market, Reuters adds. Reference Link
06:01 EDTMYLStocks with implied volatility movement; MYL NOK
Stocks with implied volatility movement; Mylan (MYL) 43, Nokia (NOK) 34 according to iVolatility.
05:05 EDTAAPLApple announces environmental initiatives in China
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May 10, 2015
20:03 EDTCCiti, JPMorgan, UBS consider exiting U.K., Financial Times says
Citi (C), JPMorgan (JPM), and UBS (UBS) are considering exiting their London operations due to the U.K.'s bank levy, reports the Financial Times, citing people familiar with the matter. There is particular focus among the banks to reduce repurchase agreements, said three senior industry figures. The Financial Times notes that the recent Conservative win could see political maneuvers to reduce or renegotiate the levy, potentially persuading the banks to stay. Reference Link
May 8, 2015
17:00 EDTABBVAbbVie discloses Civil Investigative Demand from Alaska AG
AbbVie disclosed the following in a filing: "Several pending lawsuits filed against Unimed Pharmaceuticals, Solvay Pharmaceuticals and others were consolidated for pre-trial purposes in the United States District Court for the Northern District of Georgia under the Multi-District Litigation Rules as In re AndroGel Antitrust Litigation, MDL No. 2084. These cases, brought by private plaintiffs and the Federal Trade Commission, generally allege Solvay’s 2006 patent litigation involving AndroGel was sham litigation and the patent litigation settlement agreement and related agreements with three generic companies violate federal and state antitrust laws and state consumer protection and unjust enrichment laws. Plaintiffs generally seek monetary damages and/or injunctive relief and attorneys’ fees. MDL 2084 includes: (a) three individual plaintiff lawsuits; (b) seven purported class actions; and (c) Federal Trade Commission v. Watson Pharmaceuticals, Inc. et al., filed in May 2009 in the United States District Court for the Northern District of Georgia. The Attorney General of the State of Alaska also has served AbbVie with a Civil Investigative Demand, primarily seeking documents that AbbVie produced in these lawsuits. Following the district court’s dismissal of all plaintiffs’ claims, appellate proceedings led to the reinstatement of the claims regarding the patent litigation settlement, which are proceeding in discovery in the district court."
16:44 EDTMYLMylan chairman says would consider buying Teva in the future, Reuters says
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16:05 EDTAAPLOptions Update; May 8, 2015
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15:26 EDTMYLMylan chairman says would consider buying Teva in the future, Reuters says
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13:46 EDTMYLTeva looks to raise $25B to support Mylan bid, Bloomberg reports
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12:38 EDTMYLTeva seeking $25B to finance bid for Mylan, Bloomberg reports
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09:36 EDTAAPLActive equity options trading on open:
Active equity options trading on open: AAPL BABA FB DIS MSFT TSLA NFLX AMZN BAC
08:47 EDTSHPGLeerink's specialty pharma/generics analyst has analyst/industry conference call
Specialty Pharmaceuticals/Generics Analyst Gerberry discuss the future of dry eye treatment and the data and outlook for pipeline agents Shire's Lifitegrast and Eleven Biotherapeutics' EBI-005 and expectations for Actavis' Restasis use, assuming future approval of one or more pipeline agents, on an Analyst/Industry conference call to be held on May 12 at 10:30 am.
06:16 EDTPRGOHorizon Pharma announces Pennsaid 2% patent litigation with Perrigo
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05:25 EDTAAPLEricsson files suits against Apple in Germany, UK, Netherlands
Ericsson (ERIC) has filed suits against Apple (AAPL) in Germany, the United Kingdom and the Netherlands. Ericsson had offered to enter into arbitration with Apple to reach a mutually beneficial global licensing agreement for its standard-essential patents, but that offer has now expired. The proceedings in the three countries were recently initiated and refer to the 2G and 4G/LTE standards, as well as other technology that is not standardized, but is related to, for instance, the design of semiconductor components and non-cellular wireless communications.
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