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Stock Market & Financial Investment News

News Breaks
April 14, 2014
10:51 EDTMDT, EWEdwards up after court limits sale of Medtronic's CoreValve in U.S.
Shares of cardiovascular technology company Edwards Lifesciences (EW) are rising today after a U.S. district court granted a preliminary injunction limiting the sale of Medtronic's (MDT) CoreValve system in the U.S. Shares of Medtronic, meanwhile, are falling following the news. WHAT'S NEW: On April 12, Edwards said a U.S. district court in Delaware granted a preliminary injunction, to go into effect in seven days, limiting the sale of Medtronic's CoreValue system in the U.S. In addition, the court ordered Medtronic and Edwards to enter into immediate talks to agree on a mechanism that will enable physicians at facilities currently trained on CoreValve to make a clinical judgment as to which device to implant, free from the limitations of the injunction. Medtronic responded on April 13 by saying that the ruling has no impact on the sale or marketing of CoreValue outside of the U.S. or the use of CoreValue in the current U.S. clinical trials. Medtronic is appealing the court's injunction and intends to ask the Federal Circuit Court of Appeals to prevent it from going into effect until it determines if the injunction was properly issued. ANALYST REACTION: JPMorgan upgraded Edwards Lifesciences to Neutral from Underweight following the news and raised its price target for shares to $78 from $60. JPMorgan also downgraded Medtronic to Neutral and lowered its price target on that stock to $64 from $69. Another firm, CRT Capital, also upgraded Edwards Lifesciences in response to the news. CRT Capital analyst Shagun Chadha feels that the court decision to grant a preliminary injunction against MDT’s CoreValve focuses the market balance in favor of Edwards and took the stock up to Buy from Fair Value with a price target of $87. Canaccord Genuity analyst Jason Mills said that Edwards achieved a "surprising" and noteworthy win in the courts. Mills noted, however, that he still foresees Edwards to cash in via other forms of equitable relief in lieu of a final injunction. The firm is maintaining its 12-month price target of $84 on Edwards Lifesciences shares. PRICE ACTION: During morning trading, shares of Edwards Lifesciences were up $10.01 or 13.72% to $82.98. Shares of Medtronic fell $1.28 or 2.16% to $57.92.
News For EW;MDT From The Last 14 Days
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February 5, 2016
09:12 EDTMDTMedtronic reports results from retrospective analysis of iPro2 Professional CGM
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08:05 EDTMDTMedtronic receives FDA approval for MRI CRT-D
Medtronic announced that it has received FDA approval for the first and only magnetic resonance imaging, or MRI, conditional cardiac resynchronization therapy defibrillators, or CRT-Ds, for the treatment of heart failure. The Medtronic Amplia MRI Quad CRT-D SureScan and Compia MRI Quad CRT-D SureScan systems are approved for MRI scans on any part of the body without positioning restrictions. Now, patients in the U.S. who receive these devices, which help treat their heart failure and reduce their risk of sudden cardiac arrest, have access to MRI scans if and when they need them. Both CRT-D systems will be commercially available in the coming months.
February 4, 2016
18:36 EDTEWEdwards Lifesciences authorizes $325M accelerated share repurchase
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12:25 EDTEWEdwards Lifesciences management to meet with Canaccord
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February 3, 2016
10:07 EDTEWHigh option volume stocks: DF WDR KLIC ST CIT PGTI EW ING TSM NOV
09:19 EDTEWOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Boot Barn (BOOT), up 20.7%... Oclaro (OCLR), up 8.2%... Edwards Lifesciences (EW), up 5.8%... Natural Health (NHTC), up 5.7%... Viavi Solutions (VIAV), up 2.8%. ALSO HIGHER: Conatus (CNAT), up 18.8% after the FDA has granted Fast Track designation to the company's emricasan development program for the treatment of liver cirrhosis... Marvell Technology (MRVL), up 3.3% after Starboard Value disclosed a 6.7% activist stake in the company... Syngenta (SYT), up 2.9% after ChemChina offers to acquire the company in a transaction valued over $43B. DOWN AFTER EARNINGS: Navios Maritime Partners (NMM), down 33.5%... National-Oilwell Varco (NOV), down 7.9%... Chipotle (CMG), down 5.7%... Yahoo (YHOO), down 1.9%... Mondelez (MDLZ), down 4.4%... Illumina (ILMN), down 4.6%... Alexion Pharmaceuticals (ALXN), down 3.5%... Merck (MRK), down fractionally.
February 2, 2016
19:22 EDTEWOn The Fly: After Hours Movers
UP AFTER EARNINGS: Boot Barn (BOOT), up 16.5%... Wabash National (WNC), up 9.7%... Oclaro (OCLR), up 6.8%... Myriad Genetics (MYGN), up 8%... Ultimate Software Group (ULTI), up 6.2%... Natural Health (NHTC), up 6.2%... Edwards Lifesciences (EW), up 6.2%... Viavi Solutions (VIAV), up 2.4%... Gilead Sciences (GILD), up just under 1%. DOWN AFTER EARNINGS: Match Group (MTCH), down 7.3%... Yahoo (YHOO), down 1.2%... Chipotle (CMG), down 7.1%. ALSO LOWER: Barnes & Noble (BKS), down 2.4% after General Growth (GGP) CEO Sandeep Mathrani announced that Amazon (AMZN) is going to open 300-400 brick-and-mortar bookstores.
16:26 EDTEWEdwards Lifesciences up 4.3% after reporting Q4 results, giving guidance
16:25 EDTEWEdwards Lifesciences raises FY16 adjusted EPS view to $2.57-$2.67
Consensus $2.40. Raises FY16 revenue guidance to $2.6B-$2.85B, consensus $2.69B.
16:24 EDTEWEdwards Lifesciences sees Q1 adjusted EPS 64c-70c, consensus 59c
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16:22 EDTEWEdwards Lifesciences reports Q4 adjusted EPS 63c, consensus 62c
Reports Q4 revenue $671.1M, consensus $648.74M.
14:32 EDTEWNotable companies reporting after market close
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12:25 EDTEWEdwards Lifesciences technical notes ahead of earnings
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February 1, 2016
10:02 EDTMDTMedtronic announced CE Mark, commercial launch for Resolute Onyx expansion
Medtronic announced the recent CE Mark and commercial launch for an expanded size matrix of the Resolute Onyx DES, a next generation drug-eluting stent that is now available in 4.5mm and 5.0mm diameter sizes. The CE Mark also approved several new product indications including treatment of left main vessels and small vessels. Many coronary vessels are large in diameter of which a sub-set are left main, and now physicians can treat these large vessels with optimally sized stents that provide appropriate drug concentration. Resolute Onyx is the first DES available in these sizes among major manufacturers, offering the broadest size matrix to optimize the treatment of complex clinical scenarios. The Resolute Onyx DES is not commercially available in the United States.
08:05 EDTMDTMedtronic acquires Bellco
Medtronic announced it acquired privately-held Bellco, a pioneer in hemodialysis treatment solutions. Bellco's portfolio bolsters Medtronic's legacy renal access business and will be a foundational component of the company's recently formed Renal Care Solutions business. The Bellco transaction is expected to meet Medtronic's long-term financial metrics for acquisitions. Medtronic expects the net impact from the transaction to be earnings neutral in FY16 and neutral to accretive to earnings thereafter.
January 29, 2016
16:25 EDTMDTMedtronic to present transcatheter pacing data to FDA
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January 25, 2016
17:16 EDTMDTMMS exploring sale of acute care unit, Reuters says
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