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Stock Market & Financial Investment News

News Breaks
November 27, 2013
11:14 EDTCVS, BX, BIOSCVS acquires home infusion provider
CVS Caremark (CVS) has agreed to buy the Coram unit of Apria Healthcare. Coram provides infused and oral medications to patients at their homes. BioScrip (BIOS), which also provides home-based infusion therapies, surged following the deal announcement. WHAT'S NEW: CVS announced earlier that it has agreed to buy Coram from Apria for about $2.1B. Coram specializes in providing infusion therapies, which involves administering medicine via catheter or injection to patients who cannot be treated with oral medicine. Apria is owned by The Blackstone Group (BX). "Bringing together CVS Caremark's unique range of specialty pharmacy services with Coram's infusion capabilities will expand our competitive offerings in the specialty arena," said the president of CVS Caremark Pharmacy Services, Jon Roberts. "Infusion will be a valuable component of our broad specialty pharmacy offering going forward," added Roberts. ANALYST REACTION: CVS' purchase of Coram is a validation of the value of home-based infusion therapies, wrote Jefferies analyst Brian Tanquilut in a note to investors. The deal indicates that home-based infusion providers have strategic value for healthcare providers who want to benefit from the continued increases in spending on specialty drugs, the analyst added. These drugs are increasingly being administered in patients' homes, the analyst added. Based on the price that CVS paid for Coram, BioScrip, which also provides home-based infusion therapies, could realistically be acquired for $12-$14 per share, wrote Tanquilut. However, BioScrip probably won't get sold for at least the next six months, added the analyst, who kept an $11 price target and Buy rating on BioScrip shares. PRICE ACTION: In late morning trading, BioScrip surged $1.18, or 20%, to $7.10, while CVS rose a bit over 1% to $66.80.
News For CVS;BIOS;BX From The Last 14 Days
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April 10, 2014
11:23 EDTBXOptions with increasing implied volatility: CYTK BX
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09:16 EDTBXRentech announces $150M investment from Blackstone's GSO Capital
Rentech (RTK) announced that GSO Capital Partners LP, the credit investment arm of Blackstone (BX), will invest $150M in Rentech in the form of $100M of convertible preferred stock and a $50M term loan. The transactions closed on April 9. In connection with this investment, Blackstone/GSO appointed two members to Rentech’s Board of Directors: Douglas Ostrover, a senior managing director of Blackstone and co-founder of GSO Capital Partners, and Patrick Moore, the former chairman and chief executive officer of Smurfit-Stone Container Corporation, a paper-based packaging company with significant wood fibre operations. Rentech also announced a settlement with Concerned Rentech Shareholders, whereby CRS will approve an additional member to join Rentech’s Board of Directors and the board’s newly formed Finance Committee. Proceeds from Blackstone/GSO’s investment will fund identified growth opportunities in Rentech’s wood fibre processing business. Rentech also announced changes to its Board of Directors today: Douglas Ostrover, senior managing director of Blackstone and co-founder of GSO Capital Partners, has joined the board. Mr. Ostrover brings shareholder representation and significant finance experience. He has personally overseen GSO’s deployment of $65 billion of capital. Mr. Ostrover will be the chairman of the board’s Finance Committee. Blackstone/GSO appointed Patrick J. Moore, former chairman and chief executive officer of Smurfit-Stone Container Corporation, to the board.
09:06 EDTBXBlackstone reaches a financial closing for Ventika
Fisterra Energy, a company majority owned by funds managed by Blackstone (BX), and Blackstone Energy Partners, announced it has reached a financial closing for Ventika. Ventika will be located in the northeastern Mexican state of Nuevo Leon and is comprised of two 126 megawatt wind farms with total capacity of 252MW. Once completed the project will alleviate significant demands on Mexico’s existing power infrastructure, helping Mexico reduce pollution and CO2 emissions, and meet its target of achieving 35% renewable generation by 2025. The $650M project is being jointly developed by CEMEX (CX) and Fisterra Energy. This investment funds the installation of 84 Acciona AW-3000 wind turbine generators, each with a hub height of 120 meters and a nominal output of 3MW per turbine. Construction of the project, which is scheduled to be completed in FY16, is expected to generate approximately 1K jobs and more than 2K additional jobs in related industries.
07:49 EDTBXApollo, EQT, Blackstone mull offers for Gas Natural unit, Bloomberg says
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April 9, 2014
05:48 EDTBXStocks with implied volatility movement; DLLR BX
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April 8, 2014
14:22 EDTBXWeather Channel near deal to return to DirecTV, WSJ says
DirecTV (DTV) is near a deal to return the Weather Channel to its lineup, said The Wall Street Journal, citing people familiar with the matter, one of whom said DirecTV will agree to a small increase in the fees it pays though less than the bump the Weather Channel was seeking. The Weather Channel is owned as a joint venture between Comcast's (CMCSA) NBCUniversal, Blackstone (BX) and Bain Capital. Reference Link
13:24 EDTCVSCVS confirms final SEC settlement, says will not be required to restate earnings
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13:08 EDTCVSCVS Caremark pays $20M to settle SEC accounting charges
The SEC announced that it charged CVS Caremark "with misleading investors about significant financial setbacks and using improper accounting that artificially boosted its financial performance." CVS has agreed to pay $20M to settle the charges, the agency said. Reference Link
11:58 EDTBXBlackstone volatility at upper end of 30-month range into Q1
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09:09 EDTBIOSOn The Fly: Pre-market Movers
HIGHER: BioScrip (BIOS), up 6.7% after stock was named as a stock pick and a potential takeover target by Oscar Schafer while speaking on CNBC... Nokia (NOK), up 5% after deal to sell substantially all of its Devices & Services business to Microsoft (MSFT) receives regulatory approval in China... Ctrip.com (CTRP), up 4.6% after Bloomberg said, citing sources, that the company is in talks with Baidu-controlled (BIDU) Qunar (QUNR) about a partnership or a potential merger... Plug Power (PLUG), up 4.6% after CEO discusses plan to expand fuel cells to trucks in interview... FireEye (FEYE), up 2.5% following upgrade at Wedbush... Twitter (TWTR), up 2% following initiation of coverage with a Buy rating at at Janney Capital... Nike (NKE), up 1.75% after upgraded at Stifel. LOWER: Gigamon (GIMO), down 23% after lowering revenue outlook, shares downgraded at Pacific Crest... LivePerson (LPSN), down 3% after announcing resignation of EVP, Worldside Sales, shares downgraded at Benchmark... Cisco (CSCO), down 0.5% following downgrade to Hold from Buy at Wunderlich.
09:00 EDTBIOSBioScrip rises 6.6%
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07:56 EDTBXKKR latest PE firm to increase focus on fast-growing tech, FT says
KKR (KKR), following in the recent steps of private equity peers Blackstone (BX), CVC Capital Partners and TPG, is bolstering its technology team and is considering a specialist fund to invest in fast-growing tech companies, reported Financial Times. Reference Link
07:40 EDTBIOSBioScrip, InterXion, RealD mentioned as stock picks by Oscar Schafer
Pharmacy and home health services provider BioScrip (BIOS) was named as a stock pick and a potential takeover target by Oscar Schafer, managing partner of O.S.S. Capital Management and chairman of Rivulet Capital, while speaking on CNBC. Schafer also mentioned data center service provider InterXion (INXN) and 3D technology licensor RealD (RLD) as stock picks during his appearance on the network.
April 7, 2014
07:24 EDTCVSCVS Caremark price target raised to $84-$89 from $75-$80 at Wells Fargo
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April 4, 2014
17:27 EDTBXBlackstone to acquire Gates Global for $5.4B
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07:56 EDTBXBlackstone's Chae comes back to New York, Bloomberg says
Head of international private equity at Blackstone, Michael Chae, is scheduled return to New York in June after spending more than three years building the firm’s business in Asia, according to Bloomberg, citing contents in an internal memo confirmed by a company spokesman. Reference Link
April 3, 2014
10:00 EDTBXOn The Fly: Analyst Initiation Summary
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07:53 EDTBXSeaWorld attendance falls 13% as Blackstone reduces stake, Bloomberg says
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06:46 EDTBXBlackstone, Carlyle look into bid for Singapore's Goodpack, Reuters says
Blackstone (BX) and Carlyle Group (CG) are considering a bid for Singapore's Goodpack, according to Reuters, citing people familiar with the matter. The sources said both companies had meetings this week with Goodpack, but there is no guarantee a deal with transpire as a result. Reference Link
06:17 EDTBXBlackstone initiated with an Outperform at Bernstein
Target $44.
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