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Stock Market & Financial Investment News

News Breaks
June 16, 2014
09:19 EDTLAYN, ISIS, DARA, WFT, ETRM, AKS, ACMP, WMB, BLUE, LVLT, TWTC, SNDK, FIO, MDT, COVOn The Fly: Pre-market Movers
HIGHER: Covidien (COV), up 30% after Medtronic (MDT) agreed to acquire the company for $42.9B in cash and stock. Medtronic shares are also up 6% following the news... Fusio-io (FIO), up 24% after SanDisk (SNDK) to acquire the company in all-cash deal valued at approximately $1.1B... tw telecom (TWTC), up 11% after agreeing to be acquired by Level 3 (LVLT) for $40.86 per share. Level 3 shares are up 1% following the announcement... Bluebird bio (BLUE), up 63% after announcing data from a clinical study... Williams Companies (WMB), up 12.3% after Access Midstream (ACMP) confirms Williams' planned acquisition... AK Steel (AKS), up 5% after upgraded at BofA Merrill Lynch... Dara BioSciences (DARA), up 21% after KRN5500 granted orphan drug designation by FDA. LOWER: Weatherford (WFT), down 3% after holders approve change of jurisdiction from Switzerland to Ireland... Layne Christensen (LAYN), down 12% after reporting a greater than expected Q1 loss per share and lower than expected revenues.
News For COV;MDT;FIO;SNDK;TWTC;LVLT;BLUE;WMB;ACMP;AKS;ETRM;WFT;DARA;ISIS;LAYN From The Last 14 Days
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September 18, 2014
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
10:00 EDTLVLTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abengoa Yield (ABY) initiated with a Neutral at Macquarie... Acacia Research (ACTG) initiated with an Outperform at Northland... Alibaba (BABA) initiated with a Buy at CRT Capital... Allianz (AZSEY) initiated with a Buy at UBS... Boulder Brands (BDBD) initiated with a Neutral at Piper Jaffray... Brookfield Renewable (BEP) initiated with an Outperform at Macquarie... Cogent (CCOI) initiated with an Overweight at JPMorgan... Discovery (DISCA) initiated with a Buy at Argus... FCB Financial (FCB) initiated with a Market Perform at Keefe Bruyette... Five Oaks (OAKS) initiated with a Buy at Ladenburg... Furmanite (FRM) initiated with a Buy at Sidoti... Fusion Telecommunications (FSNN) initiated with a Buy at H.C. Wainwright... Helen of Troy (HELE) initiated with an Overweight at Piper Jaffray... ICON plc (ICLR) initiated with a Buy at KeyBanc... InterOil (IOC) initiated with an Outperform at Credit Suisse... Jarden (JAH) initiated with an Overweight at Piper Jaffray... Level 3 (LVLT) initiated with an Overweight at JPMorgan... Lombard Medical (EVAR) initiated with a Buy at BTIG... NRG Yield (NYLD) initiated with an Outperform at Macquarie... Newell Rubbermaid (NWL) initiated with a Neutral at Piper Jaffray... NextEra Energy Partners (NEP) initiated with an Outperform at Macquarie... Novatel Wireless (NVTL) initiated with a Buy at H.C. Wainwright... Parker-Hannifin (PH) initiated with a Hold at Deutsche Bank... Pattern Energy (PEGI) initiated with a Neutral at Macquarie... Rentrak (RENT) initiated with a Buy at Wunderlich... Rhino Resources (RNO) initiated with a Buy at Ladenburg... Ryerson (RYI) initiated with a Buy at KeyBanc... SFX Entertainment (SFXE) initiated with a Buy at Maxim... SoftBank (SFTBY) initiated with a Buy at Jefferies... Sprouts Farmers Markets (SFM) initiated with a Neutral at Piper Jaffray... TerraForm Power (TERP) initiated with an Outperform at Macquarie... Vince Holding (VNCE) initiated with a Buy at B. Riley... WhiteWave Foods (WWAV) initiated with an Overweight at Piper Jaffray.
07:17 EDTAKSAK Steel reinstated with an Underperform at Credit Suisse
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06:19 EDTLVLTLevel 3 initiated with an Overweight at JPMorgan
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September 17, 2014
16:01 EDTCOVCovidien raises quarterly dividend to 36c from 32c
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15:46 EDTLVLTApple using own CDN, not Akamai, Level 3, for iOS 8, StreamingMediaBlog says
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12:08 EDTAKSSteel stocks rally as U.S. Steel, Nucor provide improved outlooks
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10:16 EDTLVLTFollow-up: Level 3 upgraded at DA Davidson
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09:57 EDTLVLTLevel 3 upgraded to Buy from Neutral at DA Davidson
09:10 EDTAKSOn The Fly: Pre-market Movers
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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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07:29 EDTISISIsis Pharmaceuticals earns $4M from Achaogen for Phase 3 study of plazomicin
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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.
September 16, 2014
14:34 EDTAKSAK Steel sees Severstal Dearborn acquisition accretive to earnings
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11:51 EDTCOV, MDTOECD looks to close tax loopholes with new proposals
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11:06 EDTTWTCtw telecom and Virtacore announces partnershpi to provide cloud services
09:44 EDTWMBMorgan Stanley to hold a summit
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08:07 EDTMDTMedtronic drug-coated baloon shows strong clinical, economic benefit
Presented for the first time at the 2014 Transcatheter Cardiovascular Therapeutics, or TCT, conference, the latest clinical and economic data on the IN.PACT Admiral drug-coated balloon, or DCB, from Medtronic augments an already robust body of evidence that continues to drive a reconsideration of the standard of care for peripheral artery disease, or PAD, in leg arteries above the knee. The IN.PACT Admiral DCB remains an investigational medical device in the United States. No drug-coated balloon has yet received approval from the FDA. The new data come from the real-world IN.PACT Global study, the largest and most rigorous post-market evaluation of its kind for any peripheral artery intervention, and from an ongoing economic outcomes analysis of the U.S. phase of the landmark IN.PACT SFA trial. Together, the results show that the IN.PACT Admiral DCB is not only clinically superior, but also cost-effective for the treatment of atherosclerotic lesions in the superficial femoral artery, or SFA, or proximal popliteal artery, or PPA, at 12 months compared to standard percutaneous transluminal angioplasty, or PTA.
07:31 EDTMDTEuropean Association for Study of Diabetes to hold annual meeting
50th Annual Meeting of EASD to be held in Vienna, Austria on September 15-19.
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