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Stock Market & Financial Investment News

News Breaks
May 23, 2014
17:02 EDTGTIV, KNDGentiva Health adopts shareholders rights plan
The Board of Directors of Gentiva Health Services (GTIV) announced that it has adopted a limited duration shareholder rights plan and declared a dividend of one right on each share of the company's common stock outstanding as of close of business on June 3. The Rights Plan was adopted following the company's rejection of the unsolicited, non-binding proposal by Kindred Healthcare (KND) to acquire Gentiva for $14.00 per share in Kindred stock and cash, as it significantly undervalues Gentiva, is inadequate and is not in the best interests of the company or its shareholders. Commenting on behalf of the Board, Rod Windley, Executive Chairman of Gentiva, said: "As significant equity holders, the Gentiva Board is fully aligned with the interests of our fellow shareholders. The Board unanimously adopted this Rights Plan to ensure that it remains in the best position to perform its fiduciary duties and to ensure that the value we are creating accrues to Gentiva and not to someone else looking to opportunistically appropriate that value. We are confident that we can best deliver significant value by continuing to execute our One Gentiva initiative and look forward to sharing more details about our plans and prospects with our shareholders in the coming weeks." In the absence of further action by the Board and subject to certain exceptions, the rights generally will become exercisable and allow holders to acquire the company's common stock at a discounted price if a person or group acquires beneficial ownership of 15% percent or more of the company's common stock in a transaction not approved by the Board. In that situation, rights held by persons or groups that exceed the 15% threshold will be void. The rights will expire on May 20, 2015 unless earlier redeemed, exchanged or terminated by the company.
News For GTIV;KND From The Last 14 Days
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July 23, 2014
10:25 EDTKND, GTIVGentiva Health not in talks with Kindred Healthcare, says dealReporter
According to contacts, dealReporter said Gentiva Health (GTIV) and Kindred Healthcare (KND) have not had any discussions, contradicting recent rumors.
July 21, 2014
19:12 EDTKND, GTIVGentiva Health announces receipt of acquisition proposal from Kindred Healthcare
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17:40 EDTKND, GTIVKindred Healthcare offers to acquire Gentiva Health for $17.25 per share
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17:32 EDTKND, GTIVKindred Healthcare offers to acquire Gentiva Health for $17.25 per share
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July 18, 2014
16:20 EDTKND, GTIVOn The Fly: Closing Wrap
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12:42 EDTKND, GTIVOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory and have remained there throughout the morning. The averages moved in a narrow range for most of the opening hour of the session but spurted to higher levels during the second hour. Investors appear to be using yesterday’s sell-off as a buying opportunity, despite the ongoing events in Russia and Israel that largely contributed to yesterday’s action. ECONOMIC EVENTS: The first release of the University of Michigan consumer sentiment index for July fell to 81.3 after ending June with an 82.5 reading. The leading economic indicator index rose 0.3% to 102.2, which was a bit below the forecast for an increase of 0.5%. COMPANY NEWS: Class A shares of Google (GOOGL) advanced over 3% after the search giant reported quarterly revenue that beat expectations last night. Following its report, at least three Wall Street research firms raised their price targets on the stock, while noted tech analyst Collin Gillis of BGC Financial upgraded the stock to Buy from Hold... Dow component General Electric (GE) reported second quarter EPS of 39c, matching the consensus forecast, and revenue that just missed the consensus view of analysts. The company also reported that it is targeting the initial public offering of IPO of Synchrony Financial (SYF), its North American Retail Finance business, for July. In the IPO, Synchrony is offering 125M shares of its common stock, which will be listed on the New York Stock Exchange under the symbol “SYF,” and anticipates that the IPO price of the shares will be between $23.00 and $26.00 per share... Another Dow member, IBM (IBM), fell 0.4% after reporting adjusted Q2 earnings per share and revenue that beat expectations. Afterward, Cantor said it thinks the worst is over for the company and reiterated its Buy rating on the shares, though Societe Generale downgraded IBM to Sell from Hold and Credit Suisse said IBM continues to be driven by less revenue growth and kept its Underperform rating and $160 price target on Big Blue's stock. MAJOR MOVERS: Among the notable gainers was Skyworks (SWKS), which gained 14% after reporting third quarter results and fourth quarter guidance above analyst estimates and seeing no less than five analyst firms raise their price targets on its stock. Also higher was Gentiva Health (GTIV), which rose 14% after it announced that its board unanimously determined to reject the partial tender offer from Kindred Healthcare (KND) to acquire 14.9% of the outstanding shares of Gentiva for a price of $16.00 per share in cash and disclosed that it has received a $17.25 per share, all-cash takeover proposal from a "recognized owner, operator and investor in the sector." After the announcement, shares of Kindred fell 2%. Also lower following their earnings reports were RealPage (RP), which fell over 21%, and Advanced Micro Devices (AMD), which dropped nearly 18%. INDEXES: Near midday, the Dow was up 107.05, or 0.63%, to 17,083.86, the Nasdaq was up 57.98, or 1.33%, to 4,421.43, and the S&P 500 was up 17.04, or 0.87%, to 1,975.16.
July 17, 2014
18:31 EDTGTIVOn The Fly: After Hours Movers
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16:43 EDTGTIVGentiva Health up 11.5% after disclosing receipt of $17.25 takeover offer
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16:42 EDTKND, GTIVGentiva says received $17.25 all-cash takeover bid, rejected Kindred $16 offer
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16:36 EDTGTIV, KNDGentiva Health rejects prior Kindred Healthcare proposal, receives alternate bid
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July 14, 2014
12:06 EDTGTIV, KNDGentiva Health urges holders to take no action in response to Kindred offer
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09:55 EDTGTIVHigh option volume stocks: PTEN MFRM GTIV SHPG IMMR
07:32 EDTKND, GTIVKindred Healthcare increases all-cash tender offer for Gentiva to $16 per share
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07:32 EDTKND, GTIVKindred Healthcare increases all-cash tender offer for Gentiva to $16 per share
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July 9, 2014
08:21 EDTGTIVGentiva Health sees FY14 EPS 85c-$1.15, consensus 90c
Gentiva reaffirmed its full-year 2014 outlook. Net revenues are expected to be in the range of $1.9B-$2.1B, Adjusted EBITDA is expected to be in the range of $177M-$195M. FY14 revenue consensus $1.97B. Gentiva's 2014 outlook includes the full-year impact of its Harden acquisition and the final 2014 Medicare home health and hospice reimbursement rates issued by the Centers for Medicare and Medicaid Services (CMS). The 2014 outlook excludes any ongoing losses from closed locations as the operations are wound down.
08:19 EDTGTIVGentiva Health sees Q2 adjusted EPS from cont. ops 33c, consensus 22c
Gentiva Health said the company anticipates results from continuing operations for Q2 to be equal to or in excess of the following, net revenues of $496M, adjusted EBITDA of $52M. Q2 revenue consensus $492.46M. The company said, "Gentiva’s continued momentum in the second quarter of 2014 reflects the success of the changes and strategic investments the Company has made over the past year. We strongly believe that today’s announcement provides further evidence that Gentiva’s strategy to increase stockholder value is working, reinforcing that Kindred’s offer grossly undervalues Gentiva and is not in the best interest of Gentiva stockholders.”
08:17 EDTKND, GTIVGentiva Health says Kindred Healthcare offer 'substantially undervalues' company
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