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Stock Market & Financial Investment News

News Breaks
January 16, 2014
07:17 EDTCOV, BCR, MASI, CFNCovidien looking to make acquisitions, NY Times says
Medical device maker Covidien plans to use a portion of its free cash flow for strategic acquisitions in the near-term, the company's CEO said, The New York Times reported yesterday.. Reference Link
News For COV;BCR;MASI;CFN From The Last 14 Days
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October 15, 2014
16:37 EDTCOVOn The Fly: Closing Wrap
The market opened sharply lower amid sliding oil prices, worse than expected economic data, and the potential for a major M&A deal to fall apart due to tax inversion rule changes. The Dow fell more than 350 points within the first 30 minutes of trading, but then bounced back to move above its opening level. The volatility did not end there, however, as the market swung several more times during the session. The S&P 500's drop wiped out its gains for the year at one point, but a late day rally significantly cut the losses for the major averages. ECONOMIC EVENTS: In the U.S., retail sales, which were expected to be down 0.1% in September, actually fell 0.3% in the month and slipped 0.2% excluding autos. The Producer Price Index for final demand decreased a seasonally adjusted 0.1% in September from the prior month, marking the first decline in the measure in over a year. The core PPI reading, which excludes food and energy, was unchanged, versus expectations for a 0.1% rise. New York's Empire State manufacturing index fell 21.4 points to 6.2 in October, severely missing the expectation for a narrower pullback to a reading of 20. Business inventories rose 0.2% in August, versus expectations for an increase of 0.4%. In China, the consumer price index climbed 1.6% in September from a year earlier, which was below the consensus projection for 1.7% inflation and down from 2% inflation in August. China's PPI plunged 1.8% year-over-year in September, which was more than the 1.6% slide expected and an acceleration of the 1.2% year-on-year decline in August. COMPANY NEWS: Shares of Shire (SHPG) plunged $74.08, or 30.29%, to $170.49 after AbbVie's (ABBV) board last night stated that it was reconsidering its recommendation that the company's shareholders back a takeover of Irish drugmaker in light of the potential impact of tax rule changes on the deal. During the day, Bloomberg reported that people familiar with the matter say AbbVie is close to abandoning its $51B takeover bid, while Shire announced that it has agreed to waive the requirement for three business days' notice for AbbVie's board to meet to consider its offer. In contrast, AbbVie ended the session up 50c, or 0.92%, at $54.63... Wal-Mart (WMT) held its annual meeting, during which it lowered its fiscal year 2015 net sales growth forecast to 2%-3%, citing a tougher sales environment than it anticipated a year ago. The company indicated in February that it expected net sales growth to be at the low end of its guidance provided last October of 3%-5%. The world's largest retailer also cut its planned retail square foot growth expectations, due to a moderation of large format store growth and accelerated e-commerce investments. Following the outlook revisions, Wal-Mart closed down $2.78, or 3.57%, to $75.20. MAJOR MOVERS: Among the notable gainers was Penford Corporation (PENX), which jumped $7.60, or 69.15%, to $18.59 after the company agreed to be acquired by Ingredion (INGR) for $340M, or $19.00 in cash per share. Also higher was Southwestern Energy (SWN), which rose $2.59, or 7.82%, to $35.69 after it was among a number of oil and gas exploration and production names upgraded by analysts at Bank of America Merrill Lynch. Among the noteworthy losers was Nu Skin (NUS), which dropped $4.47, or 9.13%, to $44.50 after the company disclosed new debt arrangements that come with certain restrictions, including restrictions on the payment of dividends. Also lower were shares of Covidien (COV), which fell $6.50, or 7.04%, to $85.86 in the wake of the news for Shire and AbbVie, which investors may have read as jeopardizing Covidien's deal to be bought by Medtronic (MDT). Note that on October 3 Medtronic announced that it intends to use approximately $16B in external financing to complete the acquisition of Covidien and said the strategic benefits of the transaction "remain compelling" despite the additional expense of the new financing. INDEXES: The Dow dropped 173.45, or 1.06%, to 16,141.74, the Nasdaq slipped 11.85, or 0.28%, to 4,215.32, and the S&P 500 fell 15.21, or 0.81%, to 1,862.49.
15:03 EDTCOVMedtronic management affirms commitment to Covidien deal, says Deutsche Bank
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10:48 EDTCOVShire tanks with AbbVie calling board meeting over merger
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07:32 EDTCOV, CFNUBM Canon to hold a conference
PLASTEC Midwest Conference is being held in Chicago on October 15-16.
October 14, 2014
08:16 EDTMASIMasimo announced positive results of retrospective study of ERAS program
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October 13, 2014
07:37 EDTCOV, MASIAmerican Society of Anesthesiologists to hold annual meeting
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07:25 EDTCOV, CFNEuropean Association of Cardiothoracic Surgery to hold annual meeting
28th EACTS Annual Meeting is being held in Milan, Italy on October 11-15.
October 10, 2014
09:29 EDTBCRC.R. Bard announces FDA approval of Lutonix
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08:05 EDTMASIMasimo announces CE Mark of Eve Newborn Screening Application for Radical-7
Masimo announced the CE Mark of Eve Newborn Screening Software Application for Radical-7 Pulse CO-Oximeters. Eve is designed to help clinicians more effectively and efficiently screen newborns for critical congenital heart disease, or CCHD. Newborn screening protocols may sometimes present challenges, among them: longer-than-necessary monitoring times, misapplication of sensors, calculation errors, and confusion interpreting results. The Eve Newborn Screening Software Application in the Radical-7 Pulse CO-Oximeter automates the screening steps with animated instruction, including sensor application, measurement selection, and screening result determination.
07:16 EDTCOV, MASIAmerican Society of Plastic Surgeons to hold annual meeting
Annual Meeting of ASPS is being held in Chicago on October 10-14.
07:04 EDTCOVMedtronic announces Omar Ishrak will remain CEO of new company
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October 9, 2014
16:37 EDTCOVCovidien receives FDA 510k clearance for Nellcor Portable SpO2 system
Covidien announced FDA 510k clearance for the Nellcor Portable SpO2 Patient Monitoring System. The system is the only commercially available portable oximeter that is equipped with home care and sleep study modes and complies with IEC 60601-1-11 standards for devices used in the home health care environment.
October 8, 2014
16:55 EDTCFNCareFusion, Netsmart announce enhanced medication dispensing collaboration
Netsmart and CareFusion announced an agreement to bring enhanced medication dispensing and management capabilities to behavioral health care provider organizations nationwide. The two companies will collaborate to integrate the medication use expertise of CareFusion with the closed-loop medication management capabilities of Netsmart, while re-defining interoperability within the non-acute health care industry. The collaboration will help ensure behavioral health patients, the Intellectual and Developmental Disabilities community and those receiving residential services will benefit from innovative, advanced medication dispensing and management solutions for the specific needs of lower-acuity markets.
10:46 EDTCOVOptions with decreasing implied volatility
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07:18 EDTCFNInfectious Diseases Society of America to hold a conference
ID Week 2014 is being held in Philadelphia on October 8-12.
October 7, 2014
10:43 EDTCOVOptions with decreasing implied volatility
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10:02 EDTCFNOn The Fly: Analyst Downgrade Summary
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07:08 EDTCFNCareFusion downgraded to Market Perform from Outperform at BMO Capital
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06:23 EDTCFNCareFusion downgraded to Neutral from Overweight at JPMorgan
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05:37 EDTCFNBecton Dickinson upgraded to Buy from Hold at Stifel
Stifel upgraded Becton Dickinson (BDX) to Buy with a $153 price target citing significant accretion from the takeover of CareFusion (CFN).
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