New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 25, 2014
10:00 EDTRGDO, ITMN, THOR, HNI, SNP, STLD, FLOn The Fly: Analyst Downgrade Summary
Foot Locker (FL) downgraded to Neutral from Overweight at Piper Jaffray... HNI Corporation (HNI) downgraded to Market Perform from Outperform at Raymond James... InterMune (ITMN) downgraded to Hold from Buy at Stifel... Steel Dynamics (STLD) downgraded to Neutral from Outperform at Credit Suisse... Thoratec (THOR) downgraded to Neutral from Overweight at Piper Jaffray... Regado Biosciences (RGDO) downgraded to Hold from Buy at Deutsche Bank... Sinopec (SNP) downgraded to Neutral from Buy at Citigroup.
News For FL;HNI;ITMN;STLD;THOR;RGDO;SNP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
July 22, 2015
07:04 EDTFLFoot Locker price target raised to $77 from $67 at UBS
Subscribe for More Information
07:02 EDTTHORSt. Jude Medical sees Thoratec deal accretive to adjusted EPS in 2016
Subscribe for More Information
07:02 EDTTHORSt. Jude Medical to acquire Thoratec for $63.50 per share, deal valued at $3.4B
St. Jude Medical (STJ) and Thoratec (THOR) announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which St. Jude Medical will acquire all of the outstanding shares of Thoratec for $63.50 per share in a cash transaction valued at approximately $3.4B, net of cash acquired. The all-cash transaction represents a premium of 40.1 percent compared to $45.34, Thoratec's volume-weighted average trading price for the 30 trading day period ending July 17, 2015, and a 35.4 percent premium to the closing price on Thoratec's last unaffected trading date on July 17, 2015 of $46.89. The transaction is expected to be completed in the fourth quarter of 2015. Under the terms of the merger agreement, Thoratec shareholders will receive $63.50 in cash, without interest, for each share of Thoratec common stock they own. The transaction is conditioned upon, among other things, Thoratec shareholder approval, regulatory approvals and other customary closing conditions. The transaction is not conditioned on financing. St. Jude Medical intends to fund the transaction through proceeds from additional bank term loan debt and senior unsecured notes. St. Jude Medical is committed to maintaining a strong investment grade rating. The merger agreement includes a “go-shop” period, during which Thoratec will actively solicit alternative proposals from third parties for the next 30 days continuing through August 20, 2015. The merger agreement provides for Thoratec to pay a termination fee of approximately $30 million to St. Jude Medical if Thoratec terminates the merger agreement in connection with a superior proposal that arose during the go-shop period and a termination fee of approximately $111 million if Thoratec terminates the merger agreement in connection with a superior proposal that arose following the go-shop period. There can be no assurance that this process will result in a superior proposal. Thoratec does not intend to disclose developments with respect to the solicitation process unless and until its Board of Directors has made a decision with respect to any potential superior proposal. This transaction is expected to be accretive to adjusted earnings per share in 2016. St. Jude Medical also expects the combined company to capture revenue and technology synergies following the completion of this transaction. This acquisition positions St. Jude Medical to enter new markets totaling more than $1 billion that are expected to grow approximately 10 percent annually, benefitting St. Jude Medical’s sales growth profile beginning in 2016. Bank of America Merrill Lynch is acting as financial advisor to St. Jude Medical and has also provided fully committed financing. Gibson, Dunn & Crutcher LLP is serving as legal counsel to St. Jude Medical. Guggenheim Securities is acting as financial advisor to Thoratec, and Latham & Watkins LLP is serving as legal counsel. Centerview Partners provided a fairness opinion to the Board of Directors of Thoratec in connection with the transaction.
07:00 EDTTHORSt. Jude Medical to acquire Thoratec for $63.50 per share, deal valued at $3.4B
Subscribe for More Information
July 21, 2015
16:28 EDTTHOROn The Fly: Top stock stories for Tuesday
Subscribe for More Information
15:08 EDTTHORThoratec reaches all-time high after report of St. Jude takeover
Subscribe for More Information
14:52 EDTTHORThoratec could possibly get $65-$70 per share in takeover, says Northland
Subscribe for More Information
13:56 EDTTHORSt. Jude Medical bid for Thoratec makes strategic sense, says JPMorgan
Subscribe for More Information
12:40 EDTTHORSt. Jude in talks to acquire Thoratec, Bloomberg reports
St. Jude Medical (STJ) is in talks to acquire Thoratec (THOR), Bloomberg reports, citing people familiar with the situation. Talks are ongoing and could still fall apart as no deal has been reached, Bloomberg adds. Thoratec shares spiked early in today's session, but a catalyst for the move was unclear before the Bloomberg report. Shares of the medical device maker focused on advanced heart failure patients are up $9.52 to $58.33 in midday trading. Its close competitor HeartWare (HTWR) is now up $5.53 to $84.70. Shares of St. Jude are up 4 to $76.61. Reference Link
12:33 EDTTHORThoratec jumps after Bloomberg report of St. Jude buyout talks
Subscribe for More Information
12:29 EDTTHORSt. Jude Medical in talks to acquire Thoratec, Bloomberg reports
Subscribe for More Information
12:21 EDTTHOROn The Fly: Top stock stories at midday
Subscribe for More Information
10:20 EDTTHORCatalyst behind Thoratec spike higher unclear
The catalyst behind the spike higher in shares of Thoratec (THOR) is unclear to traders and investors. The medical device maker focused on advanced heart failure patients rose as high $62.05 in early trading and its shares remain up 11%, or $5.48, to $54.29. Some vague takeover chatter surfaced, with St. Jude Medical (STJ) as the speculated buyer, but buyout rumors are often the "go-to" reason when stocks spike. Often the moves on rumors are less substantial than Thoratec's spike today. The company's close competitor HeartWare (HTWR) is not seeing any unusual trading thus far today, falling 36c to $78.81 in early trading.
10:14 EDTTHORHigh option volume stocks:
Subscribe for More Information
10:12 EDTTHORThoratec calls active on sharp rally
Thoratec August 55 and 65 calls are active on 260 contracts (50 puts). August call option implied volatility is at 55, September is at 50; compared to its 52-week range of 24 to 51. Active calls suggests traders taking positions for price movement.
09:58 EDTTHORThoratec jumps 14% to $55.82 in early trading
Subscribe for More Information
July 20, 2015
18:04 EDTSTLDSteel Dynamics reports Q2 cash flow from operations of $309M
Subscribe for More Information
18:02 EDTSTLDSteel Dynamics sees 'improved financial results' in 2H15
Subscribe for More Information
18:01 EDTSTLDSteel Dynamics reports Q2 adjusted EPS 22c, consensus 22c
Reports Q2 revenue $2.01B, consensus $1.98B.
15:01 EDTSTLDNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $3.78... Canadian National Railway (CNI), consensus $1.05... Crown Holdings (CCK), consensus $1.01... Zions Bancorp (ZION), consensus 38c... Hexcel (HXL), consensus 61c... Brown & Brown (BRO), consensus 44c... Steel Dynamics (STLD), consensus 22c... Werner (WERN), consensus 42c.
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use