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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
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July 7, 2015
10:30 EDTAET, HUM, AGPOptions with decreasing implied volatility
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10:10 EDTAET, HUMOptions with decreasing implied volatility
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10:02 EDTCICigna, Florida Cancer Specialist collaborate to improve care for cancer patients
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10:00 EDTBSXOn The Fly: Analyst Initiation Summary
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10:00 EDTHUMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include; American Campus (ACC) downgraded to Sell from Neutral at UBS... Baxter (BAX) downgraded on valuation at BMO Capital... Broadcom (BRCM) downgraded to Perform from Outperform at Oppenheimer... Dillard's (DDS) downgraded to Underperform from Neutral at BofA/Merrill... DineEquity (DIN) downgraded to Neutral following Applebee's checks at Longbow... Grupo Televisa (TV) downgraded to Neutral from Overweight at JPMorgan... Humana (HUM) downgraded to Hold from Buy at Argus... JAKKS Pacific (JAKK) downgraded on valuation at BMO Capital... K+S (KPLUF) downgraded to Underweight from Overweight at JPMorgan... New Gold (NGD) downgraded to Equal Weight from Overweight at Morgan Stanley... Rolls-Royce (RYCEY) downgraded to Underweight from Neutral at JPMorgan... Shake Shack (SHAK) downgraded to Underweight from Equal Weight at Morgan Stanley... Tesla (TSLA) downgraded to Hold from Buy at Deutsche Bank.
08:53 EDTAET, HUMHumana downgraded to Hold from Buy at Argus
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08:33 EDTHUM, AET, UNHAetna, Humana deal risks being overblown, says Leerink
Leerink analyst Ana Gupte believes yesterday's trading around Aetna's (AET) purchase of Humana (HUM) creates "strong" buying opportunities in both names. Gupte believes potential risks of the deal are being overblown. The analyst does not expect a competing Humana bid from UnitedHealth (UNH), and she believes the deal to close despite antitrust scrutiny. Gupte reiterates Outperform ratings on both Aetna and Humana.
07:42 EDTBSXBoston Scientific initiated with an Overweight at Stephens
Target $21.
July 6, 2015
16:20 EDTHUM, CI, AETOn The Fly: Top stock stories for Monday
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12:16 EDTAET, CI, HUMOn The Fly: Top stock stories at midday
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11:16 EDTAET, HUM, CIAetna-Humana tie-up may present longer term opportunity for CVS, says JPMorgan
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10:25 EDTWCGWellCare may be target in industry consolidation, Harrington says
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10:20 EDTAET, HUMOptions with decreasing implied volatility: APOL HUM AET
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10:19 EDTAET, HUM, CIHumana CEO says won't comment on speculation regarding Anthem-Cigna deal
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10:16 EDTHUM, AETAetna CEO sees divestitures for Humana deal as 'very manageable'
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10:01 EDTAET, CNC, HUMOn The Fly: Analyst Downgrade Summary
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09:49 EDTAETAetna falls on Humana acquisition, levels to watch
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09:45 EDTCIPrice still an issue as Anthem, Cigna continue talks, CNBC's Faber reports
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09:36 EDTCIAnthem, Cigna not in agreement on price, CNBC's Faber reports
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09:36 EDTCIAnthem, Cigna talks progressing on governance issues, CNBC's Faber says
09:15 EDTAET, HUMOn The Fly: Pre-market Movers
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08:44 EDTCICigna Anthem more likely to make deal after Aetna transaction, says Oppenheimer
After Aetna (AET) agreed to buy Humana (HUM) for $230 per share, Oppenheimer says that transaction increases the chances of Cigna (CI0 and Anthem (ANTM0 also agreeing to merge. Note that Wedbush made a similar prediction this morning.
08:30 EDTAET, HUMPrice of Aetna deal may displease investors, says Sterne Agee CRT
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08:27 EDTCNC, HNTCentene deal 'a master stroke,' says Sterne Agee CRT
After Centene (CNC_) agreed to buy Health Net (HNT), Sterne Agee CRT calls the deal, "a master stroke strategically that is highly accretive." The firm says that the deal will enable Centene to "become an aggressive participant in the exchanges." Sterne Agee cRT estimates that the deal will be 20%+ accretive to Centene's cash EPS in the first full year after the transaction closes. The firm keeps an $84 price target and Buy rating on Centene.
08:23 EDTAET, HUMBofA/Merrill healthcare facilities analyst has analyst/industry conference call
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08:01 EDTCI, AET, HUMAnthem, Cigna deal now much more probable, says Leerink
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07:57 EDTAET, HUMHumana sees Q2 EPS $1.60-$1.65, consensus $2.37
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07:56 EDTAET, HUMHumana cuts FY15 adjusted EPS $7.75 from $8.50-$9.00, consensus $8.65
The timing of the company’s assessment of higher-than-expected medical costs for 2015 allowed the company to reflect the impact of those costs in its 2016 Medicare Advantage bids, and the company continues to target a 2016 Medicare pre-tax margin of 4.5%-5%.
07:50 EDTAET, CI, HUMAnthem Cigna under increased pressure to make deal, says Wedbush
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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
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07:04 EDTHNT, CNCCentene acquisition positive, says Cantor
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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
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06:31 EDTHUM, AETAetna downgraded to Market Perform from Outperform at FBR Capital
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06:21 EDTHUM, AETAetna and Humana to host conference call
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05:43 EDTHUM, AETAetna price target raised to $152 from $125 at Barclays
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05:34 EDTHNT, CNCCentene downgraded to Equal Weight from Overweight at Barclays
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July 5, 2015
17:13 EDTHUM, AETAetna 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 EDTAET, CI, HUMHumana speculated that Cigna bid was simply an Anthem play, WSJ says
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July 3, 2015
06:51 EDTHUM, AETAetna sees $1.25B in annual synergies in 2018 from deal
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06:49 EDTHUM, AETAetna says ability to repurchase shares limited before deal closing
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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
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13:09 EDTHNT, CNCOn 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.
12:00 EDTCNC, HNTCognizant ability to offset Health Net loss a positive, says Wells Fargo
Wells Fargo notes that despite the loss of $100M in revenue in the second half of 2015 from the Health Net (HNT) master services agreement being put on hold during the Centene (CNC) merger review process, Cognizant (CTSH) reaffirmed its outlook today for 2015. Wells views the company's ability to offset the contract loss as a positive and says it remains comfortable with an Outperform rating on the stock.
11:33 EDTHUM, CICigna talking potential deals with Anthem, Humana, WSJ reports
Cigna (CI) has rekindled possible buyout talks with Anthem (ANTM) while it remains a potential acquirer of Humana (HUM), Wall Street Journal reports, citing a person familiar with the matter. Cigna met with Anthem twice over the past week to discuss a potential merger, and a deal could be reached in the coming weeks, a source told the Journal. CNBC's David Faber reported earlier that Cigna has re-engaged in talks with Anthem after rejecting an earlier $184 per share buyout offer. Shares of the health insurer are off their highs but remain up $1.13 to $163.17 near midday trading. Reference Link
11:03 EDTCI, HUMCigna talking to Anthem, Humana about deals, Dow reports
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09:49 EDTCIAnthem, Cigna resume merger talks, CNBC's Faber reports
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09:45 EDTCIAnthem, Cigna back in merger talks, CNBC's Faber reports
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09:36 EDTCNC, HNTCognizant backs FY15 EPS view of at least $2.93, consensus $2.97
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09:33 EDTHNT, CNCCognizant reaffirms 2015 view after Health Net agrees to be bought by Centene
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09:15 EDTHNT, CNCOn The Fly: Pre-market Movers
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08:35 EDTUNH, HNT, CNCLeerink says UnitedHealth may counter bid for Health Net
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08:06 EDTCI, HUM, AETTiming of Humana deal may be impacted by new ACA data, WSJ says
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08:04 EDTHNT, CNCHealth Net volatility low into Centene acquiring in deal valued at about $6.8B
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07:58 EDTHNT, CNCCentene volatility low into acquiring Health Net in deal valued at about $6.8B
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07:57 EDTHUM, AET, WCGKentucky Medicaid contracts in-line with expectations, says Leerink
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07:45 EDTWCGWellCare selected to continue serving Kentucky Medicaid Managed Care program
WellCare Health Plans announced that the Kentucky Cabinet for Health and Family Services selected WellCare of Kentucky to continue serving the Commonwealth's Medicaid Managed Care program in all eight of the program's regions. The new contract begins on July 1 and is for one year. It may be extended for four additional one-year renewals at the Commonwealth's discretion. As of March 31, WellCare serves approximately 441,000 Medicaid members, 6,000 Medicare Advantage plan members and 21,000 Medicare Prescription Drug Plan members in Kentucky.
07:32 EDTHNT, CNCCentene & Health Net to host joint conference call
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07:05 EDTCNC, HNTCentene to acquire Health Net in deal valued at about $6.8B
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07:02 EDTHNT, CNCCentene to acquire Health Net for implied consideration of $78.57 per share
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07:01 EDTCNC, HNTCentene, Health Net to combine in transaction valued at about $6.8B
July 1, 2015
07:04 EDTCVHCoventry Health says Jarrod Pntius begins role as general counsel, CAO
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June 30, 2015
08:33 EDTSTJSt. Jude Medical announces launch of ILUMIEN III clinical trial
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June 29, 2015
18:13 EDTMDTMedtronic says AHA/ASA recommends stent retriever technology
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06:03 EDTAETAetna implied volatility of 38 at upper end of index
June 28, 2015
17:37 EDTCI, HUM, AETHumana deal could be announced Monday, WSJ says
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June 26, 2015
17:20 EDTMOHMYR Group to replace Molina Healthcare in S&P 600 as of 6/30 close
17:19 EDTMOHMolina Healthcare to replace J.B. Hunt in S&P 400 as of 6/30 close
16:32 EDTAET, HUM, CIStocks end week lower with Greece still searching for deal
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11:00 EDTAETOptions with increasing implied volatility
Options with increasing implied volatility: SRPT AGO CRC WMB AMZN CMG TRIP ZTS AET MBI
10:00 EDTUNHOn The Fly: Analyst Upgrade Summary
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07:59 EDTAET, HUMFBR 'lukewarm' on potential Aetna, Humana deal
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07:55 EDTAET, HUMAetna price target raised to $150 from $145 at Leerink
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06:22 EDTUNHUnitedHealth upgraded to Buy from Neutral at Sterne Agee CRT
06:08 EDTAETAetna implied volatility of 40 at upper end of index
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06:01 EDTCI, HUM, AETHumana could reach deal to sell itself by next week, NY Times reports
According to a source, Humana (HUM) is pursuing a deal to sell itself and an agreement could be reached by next week, The New York Times reports. Aetna (AET) and Cigna (CI) are said to be in the running to buy Humana. Bloomberg previously reported that a deal could be reached as early as this weekend. Reference Link
June 25, 2015
17:03 EDTAETVeracyte signs national network agreement with Aetna
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16:23 EDTHUM, CI, AETOn The Fly: Top stock stories for Thursday
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14:44 EDTAET, HUMHumana options active on nearing deal to be acquired by Aetna
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13:57 EDTAET, HUMHumana spikes on nearing deal to be acquired by Aetna
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13:53 EDTHUM, AET, CIHumana nearing deal to be acquired by Aetna, Bloomberg reports
Aetna (AET) is nearing an acquisition of Humana (HUM) and a deal could be reached as early as this weekend, Bloomberg reports, citing people with knowledge of the matter. Aetna's bid includes cash and stock, and talks between the two the companies picked up after Anthem (ANTM) came public with a bid for Cigna (CI), Bloomberg adds. Both Aetna and Cigna bid for Humana, a source told Bloomberg, with Humana's board preferring the offer from Aetna. Shares of Humana are up $14.72 to $198.95 following Bloomberg's report. Reference Link
13:44 EDTHUMHumana halted for volatility after jumping $15.54 to $199.98
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13:43 EDTAET, CI, HUMHumana received offer from Cigna, Aetna, prefers Aetna, Bloomberg says
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13:43 EDTHUM, AETAetna nearing deal to acquire Humana, Bloomberg reports
11:06 EDTUNH, CNC, WCG, AET, CI, MOH, HUM, HNTHospitals, insurers climb after Supreme Court rules on ACA subsidies
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11:03 EDTMDTMedtronic announces U.S. launch of Advisa SR MRI SureScan pacing system
Medtronic announced the U.S. FDA approval and commercial launch of the Advisa SR MRI SureScan single-chamber pacemaker with the 5076 MRI lead, which allows for magnetic resonance imaging scans positioned on any region of the body without restrictions. The new system includes the Advisa SR MRI pacemaker and a SureScan lead, which must be used together to be considered MR- conditional.
10:11 EDTMOH, CNC, HNT, UNH, HUM, AET, CI, WCGACA tax subsidies upheld by Supreme Court
The decision of the Fourth Circuit was affirmed in King v. Burwell by a vote of 6 to 3, according to multiple media reports. The Supreme Court upholding the lower court ruling means that individuals who get health insurance through an exchange established by the federal government will be eligible for tax subsidies in all 50 states. Publicly traded companies in the health insurance space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). Publicly traded companies in the hospital space include Community Health (CYH), HCA Holdings (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS).
09:40 EDTCI, UNH, AET, HUMMultiple parties expressing interest in Humana, CNBC reports
Humana (HUM) has received expressions of interest from multiple companies, CNBC's David Faber reports. The interest does not mean multiples bids are forthcoming, Faber added.
09:23 EDTMDTMedtronic announces resignation of Christopher O'Connell
Medtronic (MDT) announced in a regulatory filing that Christopher J. O’Connell is resigning as the company’s EVP and President, Restorative Therapies Group. The company also announced the appointment of Geoff Martha as the company’s EVP and President, Restorative Therapies Group, effective immediately. The Fly notes that Waters (WAT) this morning named O'Connell as its new president, CEO and member of its Board of Directors, effective in September.
09:15 EDTMDTWaters names Christopher O'Connell as CEO, effective in September
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05:59 EDTHUMHumana implied volatility of 55 at upper end of index
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June 24, 2015
17:57 EDTUNH, HUM, AETWall Street applauds Senate giving go-ahead for 'fast track' trade powers
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10:00 EDTUNH, HUM, CI, AETOn The Fly: Analyst Initiation Summary
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06:36 EDTAETAetna initiated with a Sector Perform at RBC Capital
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06:35 EDTCICigna initiated with a Sector Perform at RBC Capital
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06:35 EDTUNHUnitedHealth initiated with an Outperform at RBC Capital
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06:35 EDTHUMHumana initiated with a Sector Perform at RBC Capital
Target $221.
05:59 EDTHUMHumana implied volatility of 54 at upper end of index
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05:42 EDTUNHCatamaran downgraded to Neutral from Buy at UBS
UBS downgraded Catamaran (CTRX) to Neutral saying the stock new fully reflects the UnitedHealth (UNH) takeover deal terms. UnitedHealth management in recent meetings expressed confidence that its pending $61.50 per share purchase of Catamaran will still close in the second half of 2015, UBS tells investors.
June 23, 2015
17:03 EDTMDTMedtronic implements voluntary recall for certain lots of Covidien Shiley tubes
Medtronic announced that on May 8, it began notifying hospitals and distributors worldwide that affected lots of its Covidien Shiley tracheostomy tubes were formed with a wider-angle bend than standard models manufactured after November 29, 2012. The company initiated the field action following a small number of customer complaints that included reports of 12 serious patient injuries, such as breathing difficulties that impacted oxygen levels immediately upon tube placement or discomfort. Replacement of the tracheostomy tube with product manufactured prior to November 29, 2012 addressed the patient breathing difficulty or discomfort. The notification requested all customers and distributors to quarantine and discontinue use of all potentially affected units and return the affected product to the company as soon as possible for credit. Medtronic also took the necessary steps to prevent future shipments of the recalled products. The company also notified regulatory agencies around the world, as appropriate. Since November 29, 2012, Shiley tracheostomy tubes were shipped into Australia, Belgium, Canada, Chile, Germany, Israel, Italy, Japan, Saudi Arabia, Singapore, South Africa, Turkey, Uruguay and the United States of America.
12:35 EDTBSXBoston Scientific CEO says M&A an important strategy
Boston Scientific CEO is speaking in a CNBC interview.
11:20 EDTMDTMedtronic competitive with Edwards after approval, says Wells Fargo
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09:50 EDTCI, HUMAnthem CFO meeting with Cigna shareholders, CNBC reports
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09:45 EDTCI, HUMAnthem concerned Cigna may bid for Humana, CNBC's Faber reports
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09:44 EDTCIAnthem to talk with Cigna shareholders, CNBC's Faber reports
09:22 EDTMDTMedtronic announces FDA approval for new TAVR system
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07:44 EDTAET, HUMHumana takeover looks unlikely below $210/share, says Leerink
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07:40 EDTCICigna price target raised to $175 from $160 at Leerink
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07:30 EDTCIExperts: Antitrust issues exist in Cigna/Anthem deal, Reuters says
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07:25 EDTMDT, BSX, UNHPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
06:00 EDTHUMHumana implied volatility of 48 at upper end of index
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