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News Breaks
January 14, 2014
08:47 EDTBF.B, HCN, SHLD, MCK, MYL, PFE, LMCA, BF.A, VTR, FOXA, MHFI, ACT, TWC, BEAM, DTV, TGT, CAKFY, NDAQ, VRX, CHTROn the Fly: Periodicals Wrap
WSJ: DirecTV (DTV) wants Weather Channel fee reduction as apps take hold...Brown-Forman (BF.A, BF.B) may benefit from Beam (BEAM) deal...REUTERS: Malone (LMCA, CHTR) seeks consolidation in Time Warner Cable (TWC) bid...Pfizer's (PFE) generics unit attracts several suitors (VRX, ACT, MYL)...Nasdaq (NDAQ), S&P (MHFI) interested in acquisitions to grow index businesses...BLOOMBERG: McKesson (MCK) considers JV following failure of Celesio (CAKFY) bid...Fox (FOXA) won't participate in network TVís pilot season...Sears (SHLD) may be cut by S&P...OTHER NEWS: Target's (TGT) problems may benefit security firms, NY Times reports...Ventas (VTR) and Health Care REIT (HCN) held talks, dealReporter reports.
News For B;BEAM;LMCA;CHTR;TWC;PFE;VRX;ACT;MYL;NDAQ;MHFI;MCK;CAKFY;FOXA;SHLD;TGT;VTR;HCN From The Last 14 Days
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July 23, 2015
06:05 EDTVRXValeant sees Q3 cash EPS $2.60-$2.70, revenue $2.6B-$2.8B
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06:04 EDTVRXValeant reports Q2 GAAP EPS (15c), Q2 cash EPS $2.56
Excluding negative impact of ForEx and Salix, cash EPS would have been $2.73. Reports Q2 total revenue $2.73B vs. $2.04B last year. Reports Q2 Product sales $2.70B vs. $1.99B last year. Reports Q2 SSS organic growth up 19%. Reports Q2 Salix revenue $313M.
05:59 EDTFOXAEU sends Statement of Objections to Sky, U.S. film studios
The European Commission has sent a Statement of Objections to Sky UK (SKYAY) and six major U.S. film studios: Disney (DIS), NBCUniversal (CMCSA), Paramount Pictures (VIA), Sony (SNE), Twentieth Century Fox (FOXA) and Warner Bros (TWX). The Commission takes the preliminary view that each of the six studios and Sky UK have bilaterally agreed to put in place contractual restrictions that prevent Sky UK from allowing EU consumers located elsewhere to access, via satellite or online, pay-TV services available in the UK and Ireland. Without these restrictions, Sky UK would be free to decide on commercial grounds whether to sell its pay-TV services to such consumers requesting access to its services, taking into account the regulatory framework including, as regards online pay-TV services, the relevant national copyright laws. If the Commission's preliminary position were to be confirmed, each of the companies would have breached EU competition rules prohibiting anti-competitive agreements. The sending of a Statement of Objections does not prejudge the outcome of the investigation. These antitrust investigations focus on contractual restrictions on passive sales outside the licensed territory in agreements between studios and broadcasters.
July 22, 2015
10:06 EDTMYLAbbott CEO says supportive of Mylan pursuit of Perrigo
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09:30 EDTMYLAbbott CEO says 'pretty alligned' with Mylan so far
08:38 EDTSHLD, TGTNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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08:32 EDTPFEPfizer expands lease agreement with MIT subsidiary
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July 21, 2015
10:01 EDTVRXOn The Fly: Analyst Initiation Summary
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08:04 EDTPFEPfizer launches Caltrate Bone & Joint Health supplement
Pfizer Consumer Healthcare announced the launch of Caltrate Bone & Joint Health, a 3-in-1, triple action product that delivers UC-II, an exclusive form of collagen, to support healthy cartilage and promote joint flexibility, calcium and vitamin D3, to nourish strong and healthy bones, and vitamin C and minerals to support collagen production for healthy bones and skin.
July 20, 2015
17:18 EDTLMCAD. E. Shaw & Co reports 5.1% passive stake in Liberty Media
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16:15 EDTVRXValeant initiated with a Buy at BTIG
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13:46 EDTTGTAmazon seen eclipsing Macy's as top U.S. clothing retailer
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10:00 EDTFOXAOn The Fly: Analyst Downgrade Summary
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08:38 EDTMYL, VRXAnalyst predicts Zoetis merges with Bayer unit, not Valeant
Zoetis (ZTS) in recent months has been the subject of takeover speculation, possibly for Valeant (VRX), but a Jefferies analyst told investors today in a research note that he views a deal with a unit of healthcare giant Bayer (BAYRY) as "highly likely" for the animal medicine company. BACKGROUND: Bill Ackman of Pershing Square, who owns stakes in both Zoetis and Valeant, said in early May while speaking on CNBC that Zoetis is a "greatĒ business on a standalone basis, but he also spoke of the company's strategic value. Ackman added, however, that he was "not sure" that Valeant was the best acquirer of Zoetis. Subsequently, in late June, The Wall Street Journal reported that Valeant made a preliminary approach regarding a potential deal to buy Zoetis. CNBC's David Faber said the next day, citing his own sources, that Valeant reached out to Zoetis as a courtesy to common shareholder Ackman and was unlikely to pursue an acquisition of the company, though he cautioned then Valeant could change its approach and pursue a deal. BAYER: Jefferies analyst Jeffrey Holford said in a note today that he views a tie-up between Zoetis and Bayer's Animal Health business in 2016 as "highly likely." He sees Mylan's (MYL) acquisition of Abbott's (ABT) non‑U.S. developed markets specialty and branded generics business as a potential proxy for how a transaction could be structured, adding that such a "spinversion" could achieve up to 36% long-term earnings accretion for Zoetis. Holford reiterated a Buy rating on Zoetis with a $60 price target, while downgrading Bayer to Hold, citing valuation following the recent outperformance of its shares. IDEXX: While being discussed as a target, some analysts have also opined on companies that Zoetis could pursue as a buyer. On June 29, Canaccord said that in investor meetings with IDEXX (IDXX) executives declined to comment on Zoetis' potential interest in scaling up its animal health diagnostics business. Canaccord added that it thought Zoetis could make a bid for IDEXX. The firm reiterated its Buy rating and $80 price target on IDEXX shares at that time. PRICE ACTION: Since June 25, the day the Journal first reported on Valeant's preliminary takeover approach to Zoetis, the animal health company's shares have dropped nearly 4%. Zoetis closed down 20c to $47.80 on Friday.
08:12 EDTBBarnes Group management to meet with Jefferies
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07:33 EDTVRXValeant price target raised to $285 from $275 at Canaccord
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07:33 EDTMYLInternational AIDS Society to hold a conference
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07:30 EDTMYLZoetis 'highly likely' to merge with Bayer unit in 2016, says Jefferies
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06:25 EDTFOXA21st Century Fox downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded 21st Century Fox to Neutral and lowered its price target to $34 from $40. The firm sees uncertainty around FY16 earnings given increasing programming costs, further investments, and potential acquisitions, and has a mixed views on the company's OTT streaming position.
July 19, 2015
18:13 EDTTGTMacy's considered, rejected sale/lease-backs in past, WSJ says
Macy's (M) executives have considered sale/lease-backs "over the years" and have come to negative conclusions, reports the Wall Street Journal, citing people familiar with the company. The report comes in the wake of Starboard Value pressuring Macy's to spin off its real estate, and sources said the activist investor sees several options, including a REIT, a Hudsonís Bayís-style real estate partnership, a sale/lease-back, or borrowing money against the properties. Separately, a source said Target (T) is still reluctant to relinquish control over its real estate. Reference Link
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