New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For CI;WCG;HNT;MOH;UNH;CVH;WLP;AGP;CNC;HS;HUM;AET;MDT;BSX;STJ From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | all recent news | >>
July 6, 2015
07:50 EDTAET, HUM, CIAnthem Cigna under increased pressure to make deal, says Wedbush
Subscribe for More Information
07:48 EDTAET, HUMAetna price target to $152 from $125 at Barclays
Barclays said the Aetna (AET) and Humana (HUM) transaction creates a very strong enterprise that is better positioned than the individual parts, creating increased value. The firm said the deal accelerates Aetna's long-term growth and raised its price target to 152 from $125 on shares and reiterated its Overweight rating.
07:45 EDTAETTeladoc has positive read through from Aetna deal, says RBC Capital
Subscribe for More Information
07:04 EDTHNT, CNCCentene acquisition positive, says Cantor
Subscribe for More Information
07:02 EDTHUMHumana downgraded to Neutral from Outperform at Wedbush
Humana (HUM) is being acquired by Aetna (AET) for $230 per share.
06:53 EDTHUM, UNHHumana volatility elevated into Aetna acquiring for $37B
Humana (HUM) July weekly call option implied volatility is at 67, July is at 67, August is at 43; compared to its 52-week range of 18 to 55, suggesting large near term price movement into Aetna (AET) acquiring all outstanding shares of Humana for a combination of cash and stock valued at $37B or approximately $230.
06:49 EDTHUM, AETAetna volatility elevated into acquisition of Humana for $37B
Subscribe for More Information
06:31 EDTAET, HUMAetna downgraded to Market Perform from Outperform at FBR Capital
Subscribe for More Information
06:21 EDTAET, HUMAetna and Humana to host conference call
Subscribe for More Information
05:43 EDTAET, HUMAetna price target raised to $152 from $125 at Barclays
Subscribe for More Information
05:34 EDTCNC, HNTCentene downgraded to Equal Weight from Overweight at Barclays
Subscribe for More Information
July 5, 2015
17:13 EDTAET, HUMAetna CEO calls regulatory concerns in Humana deal 'very manageable,' WSJ says
Aetna's (AET) planned acquisition of Humana (HUM) includes a $1B breakup free should the deal fail on an antitrust basis, the Wall Street Journal reported Friday, citing a person familiar with the matter. In an interview with the publication, Aetna CEO Mark Bertolini remarked that while regulatory scrutiny is "never totally predictable, we believe it’s very manageable." Reference Link
15:23 EDTCI, HUM, AETHumana speculated that Cigna bid was simply an Anthem play, WSJ says
Subscribe for More Information
July 3, 2015
06:51 EDTHUM, AETAetna sees $1.25B in annual synergies in 2018 from deal
Subscribe for More Information
06:49 EDTHUM, AETAetna says ability to repurchase shares limited before deal closing
Subscribe for More Information
06:47 EDTAET, HUMAetna to acquire Humana for $37B or $230 per share
Aetna (AET) and Humana (HUM) announced that they have entered into a definitive agreement under which Aetna will acquire all outstanding shares of Humana for a combination of cash and stock valued at $37B or approximately $230 per Humana share based on the closing price of Aetna common shares on July 2. Humana closed yesterday down $5.57 to $187.57. Under the terms of the agreement, which has been approved by the board of directors of each company, Humana stockholders will receive $125.00 in cash and 0.8375 Aetna common shares for each Humana share. As a result of the transaction, Aetna’s shareholders would own approximately 74% f the combined company and Humana’s shareholders would own approximately 26%. Aetna expects to finance the cash portion of the transaction with a combination of cash on hand and by issuing approximately $16B of new term loans, debt and commercial paper. Upon closing, which is expected to be in the second half of 2016, the company’s debt-capital ratio is projected to be approximately 46%, and management has committed to reducing that ratio below 40% over the 24 months following the closing. The transaction is projected to be neutral to Aetna’s 2016 operating earnings and produce mid-single digit percentage operating earnings accretion in 2017 and low double-digit percentage accretion in 2018. The combined company would have projected 2015 operating revenue of approximately $115B. Following the close of the transaction, Mark Bertolini will serve as Chairman and CEO of the combined company. At the time of the closing, the Aetna board will be comprised of twelve current Aetna directors and four Humana directors, for a total of sixteen directors.
July 2, 2015
16:37 EDTHNT, CNCStocks end holiday shortened week lower after Greece defaults
Stocks on Wall Street began with a slide on Monday, but not as precipitous a drop as may have been feared, after Greece shut down its banks and announced it will put the concession deal offered by its creditors, and essentially its continued inclusion in the eurozone, up for a popular vote. The major averages regained a bit of their losses in the next two sessions as news regarding the Greek situation continued to dominate the headlines. U.S. markets are closed on Friday in observance of Independence Day, but investors will be returning to big news, for better or worse, following the referendum that is scheduled to occur on July 5. MACRO NEWS: In the U.S., the monthly nonfarm payrolls report showed the addition of 223,000 jobs, versus expectations for 233,000 jobs to have been added last month. The unemployment rate fell to 5.3% from the prior month’s 5.5% rate. Factory orders fell 1.0% in May, which was larger than the expected 0.5% decline. The Conference Board's consumer confidence index rose to 101.4 in June from a revised 94.6 reading for May, beating expectations for a reading of 97.4. Markit's manufacturing purchasing managers' index for June came in at 53.6, narrowly above the 53.4 forecast. ISM's manufacturing index rose to 53.5 in June, topping May's 52.8 reading and the 53.2 consensus forecast. Construction spending rose 0.8% in May, versus the expected growth of 0.5%. Additionally, Puerto Rico's Governor Alejandro Garcia Padilla, in an interview published by the New York Times, warned that the commonwealth's "debt is not payable" and a report warned that the territory's crisis was even worse than previously thought... In Europe, Greek Prime Minister Alexis Tsipras called a surprise referendum on the terms put forth by the country’s creditors in exchange for additional rescue funds and the country shut down its banks until after this Sunday's vote. Standard & Poor's Ratings lowered its sovereign credit ratings on Greece, stating that the probability of the country exiting the eurozone is now about 50%, in its view. Greece officially missed its $1.7B payment to the International Monetary Fund, as expected. Greece's government requested a third bailout from the eurozone, but the request was dismissed by European officials. Eurogroup president Jeroen Dijsselbloem said Wednesday that he saw no need for further talks on Greece at that point as he awaits the result of its referendum... In China, the People’s Bank cut the one-year lending rate by 25 basis points to 4.85% and lowered the amount of reserves certain banks are required to hold by 50 basis points, but the same day the Shanghai Composite entered bear market territory, meaning the index was down more than 20% from its peak in mid-June. Chinese manufacturing PMIs came in short of expectations, as the HSBC/Markit PMI slipped to a final 49.4 in June from the flash reading of 49.6, while the government's official manufacturing PMI fell to 50.1 in June from 50.9 in May. COMPANY NEWS: Shares of BP (BP) advanced after the oil major announced it has reached agreements in principle to settle all U.S. federal and state claims arising from the Deepwater Horizon accident and spill in 2010. BP said it will pay up to $18.7B to settle the claims and that the expected impact of its agreements would be to increase the cumulative pre-tax charge associated with the accident and spill by around $10B from $43.8B at the end of the first quarter... In a blockbuster deal in the insurance industry, ACE Limited (ACE) agreed to acquire Chubb (CB) in a cash and stock transaction valued at over $28B. The combination will create the number one global Property and Casualty insurance company by P&C underwriting income and the number two U.S. public P&C insurer by market cap. Elsewhere on the M&A front, managed healthcare company Centene (CNC) announced a definitive agreement to acquire managed health care services rival Health Net (HNT) in a cash and stock deal valued at approximately $6.8B, including the assumption of approximately $500M of debt. Additionally, Willis Group (WSH) agreed to combine in an all-stock merger of equals with Towers Watson (TW) and Chambers Street Properties (CSG) announced a merger agreement with Gramercy Property Trust (GPT)... U.S. airline stocks dropped after the Associated Press reported that the Justice Department is investigating potential "unlawful coordination" between companies attempting to artificially limit growth to keep fares high... Juno Therapeutics (JUNO) advanced after the company announced a ten-year global collaboration for the development and commercialization of immunotherapies with Celgene (CELG). As part of the deal, Celgene will make an initial payment of approximately $1B, which includes the purchase of approximately 9.1M shares of Juno stock at $93 per share... Pentair (PNR) gained after Nelson Peltz's Trian Group confirmed it has taken a 7.24% stake. Trian urged the company to consider acquisitions and other industrial parts makers, including SPX Corp. (SPW), Flowserve (FLS), Xylem (XYL) and Colfax (CFX), also advanced following the activist's disclosure of its position... In a ruling with implications for coal miners and electric utilities, the Supreme Court overturned the EPA's Mercury Admissions and Toxic Standard, or MATS, rule, stating that the regulator did not properly take into account the costs to utilities and others in the sector in implementing a national standard for the reduction of power plant emissions of mercury and other air toxins... General Motors (GM) reported its U.S. sales fell 3% in June compared to the same month of last year, while Ford (F) said its sales grew 1.6% last month compared to last year. FCA US, the parent of the Chrysler and Jeep brands, reported U.S. sales increased 8% compared with sales in June 2014... Bond insurers MBIA (MBI) and Assured Guaranty (AGO) declined amid the worries about the debt situation in Puerto Rico. INDEXES: The Dow fell about 1.25% to close at 17,730.11, the Nasdaq declined about 1.43% to close at 5,009.21, and the S&P 500 dropped about 1.22% to close at 2,076.78.
16:28 EDTHNT, CNCOn The Fly: Top stock stories for Thursday
Subscribe for More Information
13:09 EDTCNC, HNTOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory but have moved into negative ground in early afternoon trading. The nonfarm payrolls report showed that job growth slowed in June and the unemployment rate ticked down as many left the labor force. The news flow is expected to slow with investors preparing for the Independence Day weekend and the trading has been listless as is typical in the trading session prior to a long leave. However, U.S. investors will be returning to big news, either positive or negative, on Monday following the Greek referendum that is scheduled to occur on July 5. ECONOMIC EVENTS: In the U.S., the monthly nonfarm payrolls report showed the addition of 223,000 jobs, versus expectations for 233,000 jobs to have been added last month. The unemployment rate fell to 5.3% from the prior month’s 5.5% rate. Initial jobless claims rose 10,000 to 281,000 in the week ended June 27, versus expectations for 270,000 first-time claims. Factory orders fell 1.0% in May, which was larger than the expected 0.5% decline. In Europe, Greek finance minister Yanis Varoufakis said he would resign from his post if the nation's referendum on bailout terms results in a "Yes" vote. COMPANY NEWS: Shares of BP (BP) trading in New York rose more than 5% after the oil major announced it has reached agreements in principle to settle all U.S. federal and state claims arising from the Deepwater Horizon accident and spill in 2010. BP said it will pay up to $18.7B to settle the claims and that the expected impact of its agreements would be to increase the cumulative pre-tax charge associated with the accident and spill by around $10B from $43.8B at the end of the first quarter... Managed healthcare company Centene (CNC) announced a definitive agreement to acquire managed health care services rival Health Net (HNT) in a cash and stock deal valued at approximately $6.8B, including the assumption of approximately $500M of debt. Under the terms of the deal, Health Net shareholders would receive 0.622 shares of Centene common stock and $28.25 in cash for each share of Health Net common stock, which is equal to implied consideration of $78.57 per share based on Centene’s closing stock price on July 1. MAJOR MOVERS: Among the notable gainers was Intel (INTC), which was 1.5% higher in afternoon trading after the company announced this morning that President Renee James informed the board that she will be stepping down to pursue an external CEO role. Also higher was Xoom (XOOM), which gained 22% after eBay's (EBAY) soon-to-be split PayPal (PYPL) unit announced last night that it has agreed to acquire the digital money transfer provider for $25 per share in cash. Among the noteworthy losers was Western Union (WU), which slipped about 6% after Evercore ISI downgraded the stock to Hold and JMP Securities said that PayPal's deal for Xoom will negatively affect Western Union's prices over the longer term. Also lower were shares of Triple-S Management (GTS), which fell xxx% after Wells Fargo downgraded the stock to Underperform, the firm's equivalent to a "sell" rating, saying Puerto Rico's "crumbling" economy puts the company's earnings at risk. INDEXES: Near midday, the Dow was down 54.98, or 0.31%, to 17,702.93, the Nasdaq was down 20.30, or 0.4%, to 4,992.83, and the S&P 500 was down 5.11, or 0.25%, to 2,072.31.
12:05 EDTMDTMedtronic reports 12-month results of VeClose pivotal study
Medtronic announced the twelve- month results of the VeClose pivotal study, which demonstrated the safety and effectiveness of the VenaSeal closure system for the treatment of incompetent greater saphenous veins with a 96.8% closure rate. The results were presented by National Principal Investigator, Nick Morrison, M.D., Morrison Vein Institute, Scottsdale, Ariz., at the European Venous Forum 2015 in St. Petersburg, Russia. The VenaSeal closure system is a unique, minimally invasive, non-tumescent, non- thermal and non-sclerosant procedure that uses an advanced medical adhesive to close the diseased vein in patients with symptomatic venous reflux disease. Unlike other treatments, the VenaSeal closure system does not require tumescent anesthesia, allowing patients to return to their normal activities following the procedure. The VenaSeal procedure also eliminates the risk of nerve or other heat-related injury associated with thermal-based procedures, and may reduce the need for compression stockings post-procedure. The 12 month results of the VeClose study demonstrated outcomes for the VenaSeal closure system comparable with the closure rates associated with the ClosureFast catheter and demonstrated non-inferiority of the VenaSeal closure system: At three months, the complete closure of the great saphenous veins achieved in more than 98.9% of patients treated with the VenaSeal closure system compared to 95.4% of patients treated with the ClosureFast catheter, showing non-inferiority of VenaSeal (p<.0001). The closure rate at six months was 98.9% and 94.3% for the VenaSeal closure system and the ClosureFast catheter, respectively. At 12 months, closure rates were identical between the two treatment groups at 96.8%. Additionally, no serious adverse events were reported.
<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use