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Stock Market & Financial Investment News

News Breaks
February 4, 2013
15:51 EDTCAHEarnings Preview: Cardinal Health breaks short term uptrend into Q2 report
Cardinal Health (CAH) is scheduled to report Q2 earnings before the market open on Tuesday February 5, with a conference call scheduled for 8:30 am ET. Cardinal Health improves the cost-effectiveness of healthcare. As the business behind healthcare, Cardinal Health helps pharmacies, hospitals and ambulatory care sites focus on patient care while reducing costs, improving efficiency and quality, and increasing profitability... EXPECTATIONS: Analysts are looking for EPS of 86c on revenue of $24.61B, according to First Call. The consensus range for EPS is 84c-88c on revenue of $24.22B-$25.04B... LAST QUARTER: Cardinal Health reported Q1 EPS of 81c against estimates of 79c on revenue of revenue $25.89B, against estimates of $26.35B. At the time of its Q1 results, Cardinal Health gave FY13 EPS guidance of $3.35-$3.50 on analysts consensus estimates of $3.45. The company backed that EPS view at the for J.P. Morgan Healthcare Conference on January 8... STREET RESEARCH: On January 23, RW Baird raised its price target on Cardinal Health shares to $52 from $50, citing earnings leverage, continued generics contributions, growth in platforms outside of drug distribution, and share repurchases. The firm has an Outperform rating on shares of the company... PRICE ACTION: Shares of Cardinal Health have traded lower, after announcing on January 30 that it expects to incur a $79M restructuring charge from a medical segment reorganization. In late afternoon trading, shares of Cardinal Health are trading down less than a percentage point at $43.66.
News For CAH From The Last 14 Days
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March 3, 2015
07:56 EDTCAHCardinal Health price target raised to $105 from $90 at Argus
Argus increased its price target on Cardinal based on what the firm sees as the company's solid Q2 results and its beneficial acquisition of Johnson & Johnsonís (JNJ) Cordis business. Argus expects Cordis to provide Cardinal with a new growth driver with higher margins. Argus keeps a Buy rating on Cardinal.
07:24 EDTCAHAmerisourceBergen can mitigate loss of PharMerica deal, says RBC Capital
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March 2, 2015
16:26 EDTCAHOn The Fly: Closing Wrap
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12:13 EDTCAHOn The Fly: Midday Wrap
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11:52 EDTCAHJohnson & Johnson EPS dilution from Cordis deal seems modest, says Wells Fargo
Wells Fargo estimates that Johnson & Johnson's (JNJ) planned sale of Cordis to Cardinal Health (CAH) should dilute J&J yearly EPS by about 3c-4c, assuming all is else equal, and the firm expects the company to be able to absorb at least some of this dilution and possibly offset the rest via share repurchases. Wells maintains its Outperform rating on J&J shares.
08:12 EDTCAHPharMerica announces wholesale agreement with Cardinal Health
PharMerica Corporation (PMC) announced that it has entered into a new wholesale drug distribution agreement with Cardinal Health (CAH). The new agreement will take effect on April 1 and extend through June 2018. As part of the agreement, Cardinal Health will assume responsibility for the sourcing and distribution of branded and generic pharmaceuticals for PharMerica.
08:01 EDTCAHCardinal Health offers to buy Cordis from Johnson & Johnson in $1.99B deal
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07:53 EDTCAHCardinal Health to host conference call
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07:35 EDTCAHCardinal Health to buy Cordis from Johnson & Johnson in $1.99B deal
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07:35 EDTCAHCardinal Health to acquire Cordis for $1.94B in cash
Cardinal Health (CAH) announced plans to acquire Johnson & Johnson's (JNJ) Cordis business, a global manufacturer of cardiology and endovascular devices, for $1.94B in cash, or approximately $1.59B, net of the present value of tax benefits. The acquisition is expected to be financed with a combination of $1B in new senior unsecured notes and the remainder with existing cash. The transaction is expected to close in the United States and key non-U.S. countries towards the end of calendar 2015. Assuming this timing, Cardinal Health expects fiscal 2017 accretion in non-GAAP diluted earnings per share from continuing operations of greater than 20c per share, which includes the cost of an incremental 7c-8c per share of interest expense associated with financing the transaction. The company expects the acquisition to be increasingly accretive thereafter and assumes that synergies will exceed $100M annually by the end of fiscal 2018. Cordis had annual sales in 2014 of approximately $780M, split almost evenly between cardiology and endovascular products. Upon completion of that process, Cardinal Health expects to enter into a definitive purchase and sale agreement in respect of the proposed acquisition. The proposed transaction will also be subject to customary closing conditions, including regulatory approvals, and is expected to close in the approximately 20 principal countries towards the end of calendar year 2015 and in the remaining countries on a rolling basis afterward.
February 26, 2015
11:50 EDTCAHCardinal Health management to meet with William Blair
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February 24, 2015
07:31 EDTCAHRBC Capital to hold a conference
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February 22, 2015
12:51 EDTCAHJ&J considers Cordis sale with Cardinal the leading suitor, Bloomberg says
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February 20, 2015
17:31 EDTCAHJ&J considering sale of Cordis with Cardinal the leading suitor, Bloomberg says
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