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February 14, 2014
12:42 EDTSD, TMUS, EBAY, RIG, KKR, CIM, ESRX, UAL, ATML, PENN, MET, CZR, S, ETFC, WY, GM, PCOM, LEN, BSXLeon Cooperman gives quarterly update on stakes
NEW STAKES: General Motors (GM)... Atmel (ATML)... eBay (EBAY)... Weyerhaeuser (WY)... United Continental (UAL)... T-Mobile US (TMUS). INCREASED STAKES: E-Trade (ETFC)... Express Scripts (ESRX).. SandRidge Energy (SD)... Sprint (S)... Chimera Investment (CIM). DECREASED STAKES: Boston Scientific (BSX)... Caesars (CZR)... KKR & Co. (KKR)... Lennar (LEN)... Metlife (MET)... Transocean (RIG). LIQUIDATED STAKES: Polycom (PCOM)... Penn National (PENN).
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November 11, 2015
07:41 EDTLENUBS to hold a conference
Building & Building Products Annual CEO Conference is being held in New York on November 11 with webcasted company presentations to begin at 9:30 am; not all company presentations may be webcasted. Webcast Link
07:40 EDTSWells Fargo to hold a conference
6th Annual Media & Telecom Conference is being held in New York on November 10-11 with webcasted company presentations to begin on November 11 at 8 am; not all company presentations may be webcasted. Webcast Link
07:28 EDTBSXBoston Scientific Watchman coverage decision likely to change, says Wells Fargo
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07:12 EDTTMUST-Mobile shares should be bought aggressively, says Oppenheimer
Oppenheimer believes that T-Mobile's new video plan and its new data offering will boost its ARPU, subscriber and free cash flow growth. The firm also believes that the initiatives increase the company's attractiveness as a takeover target. Oppenheimer keeps a $48 price target and Outperform rating on the shares.
06:35 EDTMETMetLife downgraded to Equal Weight from Overweight at Morgan Stanley
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06:24 EDTGMNissan testing driverless cars in Japan, Business Insider reports
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06:04 EDTATMLDialog Semiconductor continues to support Atmel transaction
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05:34 EDTESRXHorizon Pharma responds to Express Scripts lawsuit, recent allegations
Horizon Pharma (HZNP) responded to a lawsuit filed by Express Scripts and recent allegations: "Our primary concern is for the patients who, based on the profit driven actions of Express Scripts, may be denied access to medicines that are prescribed by their physicians. We are committed to ensuring that regardless of these actions, patients will have access to the medicines they need. Less than five percent of our net sales are from prescriptions that are filled by Linden Care and processed by Express Scripts. In addition, we have a diverse group of pharmacies that participate in our patient support program and no pharmacy that participates in our primary care patient support programs account for more than 13 percent of our net sales. The notion that Linden Care is a so-called 'captive pharmacy' of Horizon Pharma is entirely false. At best Express Scripts is being reckless in its allegations and at worse it is intentionally attempting to mislead investors. As previously stated, all pharmacies that distribute Horizon branded medicines are fully independent. Horizon does not own or have an ownership stake in any pharmacy and does not possess an option to purchase any pharmacy. In addition, the relationship with these pharmacies is non-exclusive where each of these pharmacies may also fulfill prescriptions for other drug manufacturers. The lawsuit filed by Express Scripts relates entirely to a previously disclosed dispute concerning a prior rebate agreement between the parties. As we previously disclosed approximately one year ago, we terminated the contract with Express Scripts after Express Scripts failed to live up to its contractual obligations. Indeed, after we notified Express Scripts of its breaches, Express Scripts made no effort to cure the breaches, let alone respond to our notice, within the contractual deadline to terminate the contract. The substantial majority of the monetary damages Express Scripts is seeking to recover are for prescriptions that occurred after the termination of the contract. We are still reviewing the allegations in the complaint but we believe the claims are without merit and we intend to vigorously defend ourselves. In light of Express Scripts' actions, we will evaluate all legal and other remedies and options."
November 10, 2015
15:10 EDTTMUST-Mobile confirms unlimited streaming initiative 'Binge On'
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14:59 EDTTMUST-Mobile introduces unlimited video streaming
During Tuesday's Uncarrier X press event, T-Mobile (TMUS) announced "Binge On," a new initiative allowing its customers to stream video without impacting their monthly data caps. The feature will support 24 video services at launch, including Netflix (NFLX), Time Warner's (TWX) HBO, and Hulu, a joint venture of Disney (DIS), Fox (FOX, FOXA) and Comcast (CMCSA, CMCSK). Reference Link
11:43 EDTUALDoJ files suit to block United, Delta deal for Newark slots
The Department of Justice filed a civil antitrust lawsuit seeking to block a proposed transaction between United Continental Holdings (UAL) and Delta Air Lines (DAL) in order to preserve competition at Newark Liberty International Airport. The Antitrust Division's lawsuit, filed in the U.S. District Court for the District of New Jersey in Newark, New Jersey, alleges that United's planned acquisition of 24 takeoff and landing slots at Newark would increase United's already dominant position at the airport, and would strengthen a barrier that diminishes the ability of other airlines to challenge United at the airport. As a result, the 35M air passengers who fly into and out of Newark every year likely would face higher fares and fewer choices. According to the department's complaint, United already controls 73 percent of the slots the FAA has allocated to carriers at the airport - over 10 times more slots than its closest competitor. No other airline has more than 70 slots. The complaint also alleges that United "grounds" as many as 82 slots each day at Newark, depriving Newark passengers of flight options that would exist if the slots were flown. The complaint also details how consumers benefit when slots are held by United's airline rivals. In response to the department's concerns expressed during its review of the United/Continental merger in 2010, United divested its 36 slots at Newark to Southwest Airlines. United's then-CEO, Jeff Smisek, lauded the settlement as a "fair solution that would allow Continental and United to create an airline that will provide customers with an unparalleled global network and top-quality products and services, while enhancing domestic competition at Newark." Nevertheless, as alleged in the complaint, United's proposed acquisition of slots from Delta is United's third attempt to reverse the benefits of the 2010 divestiture by buying slots from its competitors at Newark. Reference Link
11:35 EDTETFCE-Trade says 31K customers may have had info taken in hacking, Reuters reports
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11:04 EDTUALDOJ seeks to block Delta, United deal for Newark slots, Bloomberg reports
10:44 EDTATMLOptions with increasing implied volatility
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09:11 EDTGMCARB chair says VW the only automaker found cheating, Reuters reports
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09:06 EDTMETMetLife says to achieve carbon neutrality by end of 2016
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08:33 EDTBSXBoston Scientific to acquire portfolio of CeloNova Biosciences for $70M
Boston Scientific has entered into a definitive agreement to acquire the interventional radiology portfolio of CeloNova Biosciences, a San Antonio-based developer of endovascular and interventional cardiology technologies. The structured agreement includes drug-eluting microspheres designed to be loaded with chemotherapy drugs for delivery to cancerous tumors, and spherical embolic products used to treat uterine fibroids and other conditions. The transaction consists of an upfront payment of $70M and additional payments contingent on regulatory and sales milestones. The transaction is expected to close by year end 2015, subject to customary closing conditions. Boston Scientific currently expects the net impact of this transaction on adjusted earnings per share to be immaterial in 2016 and accretive thereafter, and less accretive on a GAAP basis as a result of acquisition-related net charges and amortization.
06:19 EDTWYPlum Creek Timber downgraded to Neutral from Overweight at JPMorgan
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05:43 EDTUALUnited Continental implied volatility of 34 at lower end of index mean range
05:18 EDTSStocks with implied volatility movement; S FIT
Stocks with implied volatility movement; Sprint (S) 72, Fitbit (FIT) 73 according to iVolatility.
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