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Stock Market & Financial Investment News

News Breaks
June 16, 2014
12:19 EDTLVLT, SNDK, COV, DWA, TWTC, MDT, BLUE, YHOO, FIOOn The Fly: Midday Wrap
Stocks on Wall Street have traded on both sides of the ledger this morning, as investor concerns over the developing situation in Iraq are competing with another flurry of merger activity. There were a number of economic reports released during the morning, though the data had little effect on the market. Near noon the major averages were slightly lower, but once again moving in a narrow range, as headlines about the advance of insurgents in Iraq continue to dominate the news flow. ECONOMIC EVENTS: In the U.S., industrial production increased 0.6% in May, versus an expected increase of 0.5%, while capacity utilization rose slightly to 79.1%. The NY Fed Empire state survey for June ticked up to a four-year high of 19.3, which was higher than expected. The NAHB homebuilder survey index climbed to 49 in June, beating expectations for it to rise from its previous reading of 45 to 47. COMPANY NEWS: A number of merger and acquisition deals were announced over the weekend and this morning, headlined by a another pharmaceutical industry mega-merger. Medtronic (MDT) agreed to acquire Ireland's Covidien (COV) in a cash-and-stock transaction valued at $93.22 per Covidien share, or a total of approximately $42.9B based on Medtronic's closing stock price on June 13. Following the deal announcement, Covidien shares trading in New York rose 19%. Medtronic, which also raised its dividend by 9% this morning, was upgraded at both William Blair and JPMorgan, though it declined about 2.5% near noon. Meanwhile, SanDisk (SNDK) agreed to acquire Fusion-io for $11.25 per share in cash, or $1.1B net of cash assumed. SanDisk rose 3% following the deal, which Piper Jaffray said expands the company's enterprise and hyper-scale product line-up. Research firm Craig-Hallum said in a note to investors that it believes another interested party could step-in and make a bid for Fusion-io, which was up about 23% to $11.39 in midday trading, or 14c above the price agreed to by SanDisk. Additionally, Level 3 (LVLT) agreed to acquire tw telecom (TWTC) for $10 cash and 0.7 shares of Level 3 common stock per share in a transaction valued at $40.86 per share based on market close as of June 13. MAJOR MOVERS: Among the notable gainers outside of the M&A newsmakers was Bluebird bio (BLUE), which jumped 35% after reporting data over the weekend that Piper Jaffray believes solidifies LentiGlobin prospects in one indication and positions it attractively for another indication that is also being pursued for the drug. Among the noteworthy losers was family-film producer DreamWorks Animation (DWA), which dropped 11.5% after its latest film, "How to Train Your Dragon 2," didn't do as well as analysts had expected in its box-office debut. Also lower were shares of Yahoo! (YHOO), which fell 5% after Alibaba disclosed additional information about its revenue, income and other financial data as its gets closer to its planned initial public offering. Yahoo continues to be a significant shareholder in the Chinese e-commerce company, whose coming stock offering could surpass Facebook’s (FB) record as the biggest tech IPO. INDEXES: Near midday, the Dow was down 23.37, or 0.14%, to 16,752.37, the S&P 500 was down 1.00, or 0.05%, to 1,935.16, and the Nasdaq was virtually flat at 4,310.44.
News For COV;FIO;MDT;SNDK;YHOO;TWTC;LVLT;BLUE;DWA From The Last 14 Days
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June 22, 2015
05:34 EDTSNDKSanDisk upgraded to Buy from Hold at Summit Research
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June 21, 2015
12:42 EDTMDTMedtronic reports five-year follow-up results for Endurant AAA stent graft
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June 19, 2015
17:02 EDTMDTMedtronic acquires Aptus Endosystems for $110M
Medtronic announced it has acquired the assets of Aptus Endosystems, a Sunnyvale, Calif. based, privately held medical device company focused on developing advanced technology for endovascular aneurysm repair and thoracic endovascular aneurysm repair. Medtronic completed its acquisition of the assets of Aptus Endosystems in a transaction valued at approximately $110M. Additional terms of the acquisition were not disclosed.
16:37 EDTYHOOLocal receives notice of termination from Yahoo
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13:38 EDTBLUEOptions with decreasing implied volatility
Options with decreasing implied volatility: QIHU PIR RHT BLUE KMX RAD KBH ADBE ACM KR
09:23 EDTMDTMedtronic acquires CardioInsight Technologies
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09:21 EDTMDTMedtronic approves repurchase of addition 80M shares
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09:20 EDTMDTMedtronic raises quarterly dividend by 25% to 38c per share
The board of Medtronic approved a 25% increase in its cash dividend for FY16, raising the quarterly amount to 38c per ordinary share for an annual amount of $1.52 per ordinary share. The dividend is payable on July 17, to shareholders of record at the close of business on June 29.
June 18, 2015
16:01 EDTYHOOYahoo pairs its search engine with TouchPal keyboards
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09:26 EDTYHOOYahoo pairs its search engine with TouchPal keyboards
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09:01 EDTYHOOYahoo's BrightRoll expands technology infrastructure into Hong Kong
BrightRoll, a division of Yahoo!, announced the international expansion of its technology infrastructure into Hong Kong with Equinix, the global interconnection and data center company. This move highlights the growth of digital advertising in the Asia Pacific region and increasing demand for BrightRoll’s programmatic video advertising solutions across the region.
08:14 EDTYHOOYahoo Japan invests ‘undisclosed amount’ in Monk’s Hill, TechCrunch says
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June 17, 2015
14:42 EDTYHOOOption volume leaders
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08:52 EDTBLUEbluebird bio pullback yesterday a buying opportunity, says Maxim
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June 16, 2015
16:01 EDTYHOOApple Twitter Facebook Bank of America Yahoo Netflix Alibaba WisdomTree Coca-Cola Goldman Sachs Micron General Electric
iPath S&P 500 VIX Short-Term Futures down 33c to 18.68. Option volume leaders: AAPL TWTR FB BAC YHOO NFLX BABA WETF KO GS MU GE.
13:33 EDTYHOOYahoo CEO says going forward with Alibaba spinoff as planned, TechCrunch reports
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13:10 EDTYHOOYahoo volatility at low end of 52-week range
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13:06 EDTYHOOYahoo shares strengthen after CEO comments on Alibaba spinoff
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13:03 EDTYHOOYahoo CEO says going forward with Alibaba spinoff as planned, Bloomberg says
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13:02 EDTYHOOYahoo: IRS changes seem to be procedural in spinoff treatment, Bloomberg says
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