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Stock Market & Financial Investment News

News Breaks
June 9, 2014
08:58 EDTIDIX, MRK, JNJ, ABBVIdenix buyout price result of bidding war, CNBC's Faber reports
The premium Merck (MRK) paid for Idenix (IDIX) was the result of an "all out bidding war" between Merck, Johnson & Johnson (JNJ) and AbbVie (ABBV), CNBC's David Faber reports via Twitter.
News For IDIX;MRK;JNJ;ABBV From The Last 14 Days
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July 24, 2014
08:39 EDTJNJOrganovo enters 3D bio-printed tissue agreement with J&J unit
Organovo (ONVO) announced that it has entered into an agreement with Janssen Research and Development, a pharmaceutical company of Johnson & Johnson (JNJ), to evaluate the use of 3D bio-printed tissue in a drug discovery setting, outside of the company’s work in 3D liver tissue for toxicity testing. Terms were not disclosed.
08:32 EDTMRKMerck initiates Phase 3 study of Letermovir
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08:19 EDTJNJLeerink medical devices analyst holds an analyst/industry conference call
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July 21, 2014
18:40 EDTJNJOn The Fly: After Hours Movers
UP AFTER EARNINGS: Netflix (NFLX), up marginally after reporting Q2 results... Sanmina (SANM), up 13.2% after reporting third quarter results and fourth quarter guidance above analyst estimates... Chipotle (CMG), up 10.1%... Helix (HLX), up 5.2%... Canadian National (CNI), up 1.13%... CYS Investments (CYS), up 1.7%. ALSO HIGHER: Apache (APA), up 5% after Bloomberg says JANA discloses $1B position... Johnson & Johnson (JNJ), up 1% after announcing a $5B share repurchase program... TG Therapeutics (TGTX), up 4.3% after reporting second quarter results and preliminary clinical results from TG-1101 Phase I study... DOWN AFTER EARNINGS: Rambus (RMBS), down 3.6% after reporting second quarter results... Ultra Clean (UCTT), down 4% after reporting quarterly results. ALSO LOWER: Tallgrass Energy (TEP), down 5% after filing to sell 7M common units representing limited partners.
17:03 EDTJNJJohnson & Johnson announces $5B share repurchase program
Johnson & Johnson announced that its board has approved the repurchase of up to $5B of the company's common stock. The company had approximately 2.82B shares of common stock outstanding as of June 29.
17:01 EDTJNJJohnson & Johnson announces $5B share repurchase program
10:27 EDTABBVUBS pharma and federal affairs analysts hold an analyst/industry conference call
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08:01 EDTABBVAbbVie acquisition positive, says Argus
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07:59 EDTABBVShire downgraded to Market Perform from Outperform at Leerink
Leerink downgraded Shire (SHPG) on Friday to Market Perform citing the takeover by AbbVie (ABBV) as it does not expect competitive bids to emerge.
07:21 EDTMRKGilead could be hurt by new HCV drugs, says Wells Fargo
Noting that data on a new Merck (MRK) HCV treatment is expected in November, Wells Fargo thinks Merck's HCV drug could be combined with Gilead's (GILD) Sovaldi to shorten the duration of treatment to four weeks. Other companies could take similar actions, and Gilead's per patient revenues would be significantly reduced if this occurs, the firm warned. However, it continues to have an upbeat outlook on Gilead heading into what it sees as a strong quarter and is still upbeat on the company's long-term HCV opportunity. It keeps an Outperform rating on Gilead.
06:43 EDTMRK, ABBVGrowing market for hepatitis-C treatment prompts legal scramble, WSJ says
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06:10 EDTABBVStocks with implied volatility movement; ABBV JOY
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July 18, 2014
18:04 EDTABBVAbbVie purchase of Shire worth the premium, Barron's reports
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16:47 EDTABBVMarket ends week higher as earnings, M&A offset geopolitical tensions
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13:46 EDTABBVAbbVie price target raised to $85 from $71 at Jefferies
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10:34 EDTABBVShire downgraded to Neutral from Overweight at Piper Jaffray
Shire (SHPG) is being acquired by AbbVie (ABBV).
10:30 EDTABBVAbbVie says can't back out of Shire deal based on tax law change, Bloomberg says
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09:29 EDTABBVAbbVie, Shire says merger should help in enhanced buyback and dividend programs
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05:17 EDTABBVAbbVie, Shire agree on merger worth GBP32B pounds
The boards of AbbVie (ABBV) and Shire (SHPG) announced that they have reached agreement on the terms of a recommended combination of Shire with AbbVie. Under the terms of the Merger, Shire shareholders will be entitled to receive per share GBP 24.44 in cash and 0.8960 new AbbVie shares. Immediately following the transaction, Shire shareholders are expected to hold new AbbVie Shares representing approximately 25% of the issued share capital of new AbbVie. AbbVie expects the transaction to be accretive to adjusted earnings per share in the first year following completion, growing to above $1.00 per share by 2020, with "material ongoing financial and operating benefits." The AbbVie board also expects the transaction to reduce New AbbVie's effective tax rate to approximately 13% by 2016. The Shire board said it "considers the terms of the Transaction to be fair and reasonable." In order to undertake the transaction, AbbVie has formed a new company, New AbbVie, which is incorporated in Jersey, Shire's current place of incorporation. Following completion of the Transaction, New AbbVie will become the holding company of the Shire Group and the AbbVie Group. It is intended that the New AbbVie Shares will be listed on the New York Stock Exchange.
05:12 EDTABBVAbbVie to acquire Shire for 52.48 pounds per share in cash, stock
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