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Stock Market & Financial Investment News

News Breaks
February 8, 2013
14:19 EDTCI, CTRXCatamaran weakness a buying opportunity, says Cowen
Cowen attributes the weakness in shares of Catamaran (CTRX) to concerns over the company's relationship with Cigna (CI) should Cigna decide to keep its PBM. Cowen always expected Cigna to keep its PBM, and thinks the market is incorrectly assuming that Cigna's relationship with Catamaran will dissolve if that were to be the case. Cowen thinks the market is misunderstanding the services that Catamaran currently provides to Cigna and recommends buying the stock on today's pullback.
News For CTRX;CI From The Last 14 Days
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June 21, 2015
16:03 EDTCIAetna makes offer to acquire Humana, WSJ says
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15:26 EDTCIAnthem publicized offer for Cigna in order to pressure company, WSJ says
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June 20, 2015
19:56 EDTCIAnthem proposes to acquire Cigna for $184 per share in cash, stock
Anthem (ANTM) announced that it has submitted a non-binding proposal to acquire Cigna (CI) for $184 per share in cash and stock. Under the terms of the proposal, which was delivered to Cigna’s board, Cigna stockholders would receive a total consideration that represents a value of $184 per share. The offer, which values the company at $53.8B on an enterprise basis, represents an “unaffected” premium to Cigna’s stockholders of more than 35.4%, based on the closing price of Cigna’s shares on May 28. The combined company would be an industry leader with greater than $115B in annual revenues, based on the most recent 2015 outlook publicly reported by both companies. Under the contemplated terms, the consideration would consist of approximately 31.4% Anthem shares and 68.6% cash and the combined company would reflect a pro forma equity ownership comprised of approximately 76.3% Anthem shareholders and approximately 23.7% Cigna stockholders. Anthem is also confident in its ability to complete any financing related to the acquisition, the company said. Anthem expects the combination would be accretive to operating earnings per share and that the combined enterprise would generate significant annual cost synergies by achieving operating and G&A efficiencies. Anthem expects to achieve adjusted earnings per share accretion of greater than 10% in year one, with the accretion more than doubling by year two following the closing of the transaction. Anthem is confident in the achievability of synergies and is committed to retaining investment grade debt ratings, the company noted. Anthem is confident in its ability to obtain regulatory approvals. In the course of previous negotiations, both companies have expressed a confidence that regulatory approval would not delay the consummation of the combination. This includes matters related to the Blue Cross Blue Shield Association. "Anthem has been engaged with Cigna to explore a potential combination since August 2014 and is making its proposal public today following Cigna’s refusal to reasonably negotiate and its insistence on securing governance matters that are not common practice in similar transactions. Anthem is confident in the value being offered, the growth potential of the combined company and its ability to successfully integrate the two organizations," the company stated.
June 19, 2015
16:24 EDTCIStocks end week higher after Fed reassures on gradual pace of rate increases
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14:07 EDTCIOptions with increasing implied volatility: NFLX CI TRIP AET
10:09 EDTCIFly Watch: Supreme Court may release key ACA decision soon
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09:18 EDTCIHumana most likely target in Managed Care, says FBR Capital
FBR Capital says Humana (HUM) is the most likely acquisition target in the Managed Care space, with Aetna (AET), Anthem (ANTM) and Cigna (CI) as the likely acquirers. The firm believes Anthem would benefit the most from the acquisition of Humana. It also thinks UnitedHealth (UNH) could look to acquire Aetna or Cigna. FBR thinks one or two more large deals in the space are possible.
07:37 EDTCISupreme Court decision on ACA suit due soon, says UBS
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06:11 EDTCICigna implied volatility of 38 at upper end of index
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June 18, 2015
11:31 EDTCIOptions with increasing implied volatility
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07:51 EDTCIIncrease in 3R backstop most positive for Humana, says Leerink
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06:08 EDTCICigna implied volatility of 38 at upper end of index
June 17, 2015
11:08 EDTCIOptions with increasing implied volatility
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07:48 EDTCIHealth insurers seen consolidating from five to three in 'megadeals,' WSJ says
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07:42 EDTCIAetna price target raised to $145 from $135 at Leerink
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07:16 EDTCICigna added to Most Preferred List, target raised to $175 at UBS
UBS added Cigna to its Most Preferred List and said the shares are attractive from both an operating and a consolidation perspective. The firm believes the risk/reward is attractive at current levels and applied a 30% probability of a buyout. UBS reiterated its Buy rating and raised its price target to $175 from $149 on Cigna shares.
June 16, 2015
12:58 EDTCIVolatility spiked for providers of health insurance following takeover reports
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11:08 EDTCIUnitedHealth has information advantage over peers, says Piper Jaffray
Piper Jaffray analyst Sean Wieland writes that regardless of potential consolidation in the industry, UnitedHealth (UNH), following its acquisition of Optum, has an information advantage that could be years ahead of the other payors. Wieland says UnitedHealth's reported offer to acquire Aetna (AET) for $40B looks understated compared to Anthem's (ANTM) rejected $45B bid for Cigna (CI). He reiterates an Overweight rating on UnitedHealth with a $149 price target.
06:45 EDTCICigna price target raised to $180 from $145 at Deutsche Bank
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05:53 EDTCIAetna approached by UnitedHealth about merger, WSJ reports
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