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Stock Market & Financial Investment News

News Breaks
June 18, 2014
10:01 EDTCECO, TSN, SM, NDSN, NMBL, MDT, GPS, BEN, DTV, DMND, CLB, CBI, WAGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Career Education (CECO) upgraded to Equal Weight from Underweight at First Analysis... Chicago Bridge & Iron (CBI) upgraded to Buy from Neutral at DA Davidson... Core Laboratories (CLB) upgraded to Outperform from Sector Perform at Iberia... Diamond Foods (DMND) upgraded to Buy from Hold at KeyBanc... DirecTV (DTV) upgraded to Buy from Neutral at Buckingham... Franklin Resources (BEN) upgraded to Buy from Neutral at Goldman... Gap (GPS) upgraded to Buy from Hold at Canaccord... Medtronic (MDT) upgraded to Overweight from Equal Weight at Barclays... Nimble Storage (NMBL) upgraded at Morgan Stanley... Nordson (NDSN) upgraded to Outperform from Market Perform at Barrington... SM Energy (SM) upgraded to Buy from Hold at Tudor Pickering... Tyson Foods (TSN) upgraded to Outperform from Market Perform at BMO Capital... Walgreens (WAG) upgraded to Overweight from Equal Weight at Barclays.
News For CECO;CBI;CLB;DMND;DTV;BEN;GPS;MDT;NMBL;NDSN;SM;TSN;WAG From The Last 14 Days
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September 23, 2014
07:05 EDTMDTMedtronic will still pursue Covidien deal, says Citigroup
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05:56 EDTMDTTreasury, IRS announce plans to reduce inversion tax benefits
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September 22, 2014
10:15 EDTWAGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actavis (ACT) downgraded to Equal Weight from Overweight at Barclays... Aetna (AET) downgraded to Neutral from Buy at BofA/Merrill... Auxilium (AUXL) downgraded to Hold from Buy at Stifel... CARBO Ceramics (CRR) downgraded to Neutral from Buy at Sterne Agee... Commerzbank (CRZBY) downgraded to Underperform from Neutral at Exane BNP Paribas... Concur (CNQR) downgraded to Neutral from Buy at Nomura... Dresser-Rand (DRC) downgraded to Neutral from Accumulate at Global Hunter... Finish Line (FINL) downgraded to Equal Weight from Overweight at Morgan Stanley... General Communications (GNCMA) downgraded to Hold from Buy at Drexel Hamilton... InvenSense (INVN) downgraded to Neutral from Outperform at RW Baird... Las Vegas Sands (LVS) downgraded to Market Perform from Outperform at Wells Fargo... Lindsay Corp. (LNN) downgraded at Sterne Agee... Melco Crown (MPEL) downgraded to Market Perform from Outperform at Wells Fargo... Outerwall (OUTR) downgraded to Sell from Neutral at B. Riley... PSEG (PEG) downgraded to Hold from Buy at Jefferies... Realogy (RLGY) downgraded to Underperform from Neutral at Credit Suisse... Regal-Beloit (RBC) downgraded to Accumulate from Buy at Global Hunter... SABMiller (SBMRY) downgraded to Market Perform from Outperform at Bernstein... Saba Software (SABA) downgraded to Neutral from Buy at B. Riley... Suburban Propane (SPH) downgraded to Market Perform from Outperform at Wells Fargo... Swiss Re (SSREY) downgraded to Underperform from Neutral at Exane BNP Paribas... Towers Watson (TW) downgraded to Buy from Conviction Buy at Goldman... Valmont (VMI) downgraded at Sterne Agee... Walgreen (WAG) downgraded to Equal Weight from Overweight at Barclays... Watts Water (WTS) downgraded to Neutral from Buy at Janney Capital... Wynn Resorts (WYNN) downgraded to Market Perform from Outperform at Wells Fargo... Yahoo (YHOO) downgraded to Neutral from Buy at BofA/Merrill.
09:32 EDTMDTMedtronic announces CE Mark, European launch for TYRX envelope
Medtronic has received CE, or Conformité Européenne, Mark for the TYRX Absorbable Antibacterial Envelope, which covers an implantable cardiac device to help stabilize the device after implantation and reduce surgical-site infections.
05:55 EDTWAGWalgreen downgraded to Equal Weight from Overweight at Barclays
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September 19, 2014
11:25 EDTMDTSenators bring bill requiring companies to settle before inverting
U.S. Senators Sherrod Brown and Dick Durbin announced new legislation requiring corporations to "Pay What You Owe Before You Go" – settling their U.S. tax bill before relocating to a foreign country. "Everyone knows that before you leave a restaurant you have to settle your tab," Brown said. "Corporations shouldn’t get to play by different rules. While it is critical that we reach a long-term solution that reforms our international corporate tax code by implementing a global minimum tax and reducing the statutory tax rate, this bill is an immediate, commonsense measure to ensure businesses settle up before leaving the U.S." Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Allergan (AGN).
September 18, 2014
12:23 EDTDTVAT&T ex-partners look to FCC to hinder DirecTV offer, Reuters says
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12:18 EDTMDTNY AG announces national settlement with Medtronic for Medicaid violations
Attorney General Eric T. Schneiderman announced that 46 states and the District of Columbia have reach a settlement agreement with Minnesota-based company Medtronic to resolve claims under the False Claims Act that Medtronic improperly induced physicians to recommend Medtronic devices to treat cardiac rhythmic disease. New York led a national team composed of members from Oregon, Texas and California to negotiate the settlement. The federal government settled its matter in May of this year...The agreement requires Medtronic to pay the settling states $362,362, which will go to those states’ Medicaid programs. The matter was brought by a whistleblower, Adolfo Schroeder, and was filed in U.S. District Court for the Eastern District of California. The Attorney General would like to thank Mr. Schroeder for bringing this matter to the government’s attention. Under the terms of the agreement, the New York Medicaid Program will receive $67,369.31. Reference Link
11:55 EDTWAGRite Aid falls as drugstore chain trims FY15 view
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11:12 EDTCECOCareer Education CEO says committed to turnaround
CEO Scott Steffey says "well on way" to accomplishing turnaround goals. Says previously forecast $75M of savings in operating expenses by end of Q2, says has achieved $63M already. Says well on the way to achieving or surpassing $75M figure. Says "very well capitalized" for turnaround. Sees favorable market dynamics ahead. Comments made at the BMO Capital Markets Back to School Education Conference.
10:57 EDTGPSU.S. ITC to investigate 17 denim jean companies for patent infringement
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07:17 EDTCECOBMO Capital to hold a conference
14th Annual Back to School Education Conference to be held in New York on September 18 with webcasted company presentations to begin at 8 am; not all company presentations may be webcasted. Webcast Link
06:59 EDTCECOCareer Education comments on objectives to turnaround strategy
Says priorities in turnaround strategy include: Strengthening academic outcomes, generating modest university total student enrollment growth, reducing organizational cost structure, stabilizing career school enrollments, completing the teach out of transitional schools. Says regularly evaluates company's assets to determine where best to deploy capital. Comments from slides that will be presented at the BMO Capital Markets Back to School Education Conference.
September 17, 2014
15:50 EDTDTVDISH, DirecTV support committee passage of STAVRA legislation
DIRECTV (DTV) and DISH (DISH) issued the following statement regarding the passage of the Satellite Television Access and Viewer Rights Act, or STAVRA, out of the Senate Committee on Commerce, Science, & Transportation: "We thank Chairman Rockefeller, Ranking Member Thune and the rest of the Senate Commerce Committee for passing bipartisan legislation that makes important reforms to the outdated laws governing today’s video market, while ensuring continuity of service to more than 1.5M distant signal subscribers who would, otherwise, lose service at the end of this year. We look forward to working with Congressional leadership to see this reauthorization swiftly passed into law, and also look forward to continuing the important discussion regarding retransmission consent reform, and in particular protecting consumers from local channel blackouts.”
13:34 EDTDTVAT&T could need significant debt to pursue America Movil assets, WSJ says
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10:00 EDTGPSOn The Fly: Analyst Initiation Summary
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09:08 EDTMDTMedtronic launches new Balloon Kyphoplasty Platform
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07:43 EDTMDTBofA/Merrill to hold a conference
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07:22 EDTSMSM Energy price target raised to $110 from $95 at Stifel
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06:09 EDTMDTIntegra LifeSciences to acquire Medtronic instrumentation lines for $60M
Integra LifeSciences (IART) and Medtronic (MDT) announced an agreement in which Integra will acquire Medtronic's MicroFrance and Xomed manual ENT and laparoscopy instrumentation lines for approximately $60M in cash. Integra expects the transaction to close in Q4. Integra will acquire a portfolio of approximately 4,000 MicroFrance and Xomed manual ENT and laparoscopic surgical instruments, as well as the St. Aubin le Monial, France manufacturing facility. Sales from the products being acquired totaled approximately $30M, two-thirds of which were generated outside the U.S. Integra expects to record approximately $27M-$30M in revenue and approximately 10c of adjusted EPS in calendar 2015 from this acquisition. The earnings accretion should rise after the first year once certain sales transitions are complete. The company expects the acquisition to contribute less than $5M in revenue and be neutral to earnings in Q4. The transition and integration is expected to be completed by 2H15.
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