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Stock Market & Financial Investment News

News Breaks
June 9, 2014
12:42 EDTERIC, FDO, TSN, ACHN, NSR, PF, HSH, MRK, DG, PPC, GILD, IDIXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, pushing the S&P 500 and the Dow Jones Industrial Average toward new milestone levels. The market began the session just slightly below the flat-line, but within minutes had moved into positive territory where it has remained all morning. The averages have moved in a very narrow range, but the slow drift higher has the Dow within striking distance of 17,000 and the S&P edging closer to 2,000. ECONOMIC EVENTS: In the U.S., no significant economic data was reported. In Asia, data released over the weekend showed that China's trade surplus widened in May to $35.92B, as the nation's exports accelerated more than forecast and imports fell more than expected. COMPANY NEWS: Shares of several companies that have developed hepatitis C, or HCV, treatments were active after one such company, Idenix (IDIX), agreed to be acquired by pharmaceutical giant Merck (MRK) for $24.50 per share in cash. The purchase price is more than triple the company's closing price on Friday and Idenix shares rose more than 230% to trade near $24.09 after the announcement. Shares of Achillion Pharmaceuticals (ACHN), which has developed its own HCV drugs, were up 40% as investors speculate it could be the next takeover target in the space, while shares of Gilead (GILD) fell about 4% after an analyst wrote that Merck bought Idenix partly to strengthen its hand in patent litigation against Gilead... Food processor and distributor Hillshire Brands (HSH) advanced another 5% after Tyson Foods (TSN) increased its offer to acquire the company to $63 per share, prompting rival Pilgrim's Pride (PPC) to withdraw its own takeover proposal. However, Tyson's new offer is still subject to Hillshire being released from its existing agreement to acquire Pinnacle Foods (PF) and Hillshire said it does not have the right to break its merger pact with Pinnacle on the basis of the Tyson offer or enter into an agreement with Tyson prior to the termination. MAJOR MOVERS: Among the notable gainers was Family Dollar (FDO), which climbed 14% after well-known activist investor Carl Icahn disclosed that he had obtained a significant stake in the company. Also higher were shares of peer Dollar General (DG), which gained nearly 10% after Icahn reportedly told Fox Business that he may push for a merger between the two dollar store operators. Among the noteworthy losers was Neustar (NSR), which dropped 7.5% after acknowledging a copy of a confidential email was posted in the FCC docket and made available to the public. Deutsche Bank noted that shares of NeuStar traded down just before the close on Friday after the posting, which suggested the North American Numbering Council has recommended selecting iConectiv, the Telcordia unit of Ericsson (ERIC), as the vendor for the Number Portability Administration Center in place of incumbent Neustar. INDEXES: Near midday, the Dow was up 31.57, or 0.19%, to 16,955.85, the Nasdaq was up 22.30, or 0.52%, to 4,343.70, and the S&P 500 was up 3.92, or 0.2%, to 1,953.36.
News For IDIX;MRK;ACHN;GILD;HSH;TSN;PPC;PF;FDO;DG;NSR;ERIC From The Last 14 Days
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January 22, 2015
10:35 EDTACHNOptions with decreasing implied volatility
Options with decreasing implied volatility: CZR ACHN NFLX SN NBR TLM CREE BBY LNCO BBRY
09:43 EDTDGActive equity options trading
Active equity options trading according to Track Data: AAPL DG ABX AMZN FXCM LVS FFIV INFI SD
09:37 EDTFDODollar Tree says Family Dollar merger could close as soon as March
Dollar Tree (DLTR) commented on the outcome of the shareholder vote of Family Dollar Stores (FDO) to approve the pending merger with Dollar Tree. It said, "Today’s vote of approval by Family Dollar shareholders represents a crucial step toward combining Dollar Tree, North America’s leading fixed-price point discount retailer, with Family Dollar, a leading multi-price point retailer with a 50+ year history of serving low and middle income customers By adding Family Dollar to our portfolio of brands, Dollar Tree will soon operate more than 13,000 stores in 48 states and five Canadian provinces with annual sales exceeding $18 billion. This merger enhances our geographic footprint and diversifies our business model. We intend to operate and grow both banners." Dollar Tree added that "several steps" need to take place to facilitate the successful completion of the acquisition. By the end of January, Dollar Tree expects to reach a preliminary agreement with the FTC staff on the list of substantially all of the stores to be divested. Dollar Tree then plans to finalize divestiture agreements with the selected buyers, to address any concerns of the investigating state attorneys general, and to execute a consent order with the FTC’s Bureau of Competition. Dollar Tree and Family Dollar have agreed to provide the FTC with four weeks’ notice prior to closing. Dollar Tree expects to initiate this four-week notice period after Dollar Tree executes a consent decree with the FTC’s Bureau of Competition, which should enable the closing of the merger as soon as March 2015.
09:25 EDTDG, FDOFamily Dollar shareholders approve Dollar Tree merger
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09:24 EDTFDO, DGFamily Dollar shareholders approve Dollar Tree merger
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09:24 EDTDGDollar General says focused on core business
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09:24 EDTDGDollar General says 'well positioned' for sustainable growth
09:23 EDTFDO, DGDollar General says Rick Dreiling to continue as chairman and CEO
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09:22 EDTDGDollar General says Rick Dreiling to continue as chairman and CEO
09:21 EDTDG, FDOFamily Dollar holders approve Dollar Tree deal, Bloomberg reports
Family Dollar (FDO) shareholders approved today the buyout offer from Dollar Tree (DLTR), Bloomberg reports.
06:05 EDTFDO, DGFamily Dollar investors expected to approve Dollar Tree deal, NY Post reports
Family Dollar (FDO) investors are poised to approve Dollar Tree's (DLTR) $8.5B cash and stock takeover offer at a meeting today, The New York Post reports. Reference Link
January 21, 2015
10:54 EDTPPCOptions with increasing implied volatility: PPC EUO GLD
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10:16 EDTMRKLeerink biopharma analysts hold an analyst/industry conference call
Analyst Fernandez, along with Dr. Paul Gurbel and Dr. Richard Becker, discuss AstraZeneca's PEGASUS trial and the current use of Brilinta and dual antiplatelet therapy for prevention of CV disease and implications of the recently completed DAPT trial on an Analyst/Industry conference call to be held on January 21 at 1:30 pm.
08:02 EDTMRKMerck completes tender offer to acquire Cubist
Merck (MRK) announced the successful completion of the tender offer for all of the outstanding shares of common stock of Cubist Pharmaceuticals (CBST) at a purchase price of $102.00 per share. As of the tender offer expiration yesterday, 58,039,667 shares of common stock of Cubist were validly tendered and not properly withdrawn from the tender offer, representing approximately 75.7% of the outstanding common stock of Cubist on a fully diluted basis. All of such shares have been accepted for payment in accordance with the terms of the tender offer, and Merck expects to promptly pay for all such shares. Following consummation of the tender offer, Merck expects to complete the acquisition of Cubist later today through a merger of Merck’s wholly owned subsidiary with and into Cubist without stockholder approval. Upon completion of the merger, all outstanding shares of common stock of Cubist, other than shares held by Cubist in treasury or shares held by Cubist’s stockholders who are entitled to and properly exercise appraisal rights under Delaware law, will be canceled and converted into the right to receive cash equal to the $102.00 offer price per share without interest, less any applicable withholding taxes. In addition, upon completion of the merger, Cubist will become a wholly owned subsidiary of Merck and the common stock of Cubist will cease to be traded on the NASDAQ Stock Market.
January 20, 2015
17:18 EDTMRKDana Holding to replace Cubist in S&P 400 as of 1/22 close
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16:00 EDTGILDOptions Update; January 20, 2015
iPath S&P 500 VIX Short-Term Futures down 36c to 35.12 Option volume leaders: AAPL TSLA TWTR GILD NFLX MGM ABX AMAT JNJ C according to Track Data.
14:29 EDTTSNTyson Foods settles Missouri chemical spill suit for $540K
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10:45 EDTPPCOptions with increasing implied volatility
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09:38 EDTGILDActive equity options trading
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07:23 EDTMRKMerck funding testing of lower dosages of Zilmax, Reuters reports
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