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Stock Market & Financial Investment News

News Breaks
April 8, 2014
04:55 EDTJPM, JPM, JPM, PJC, PJC, PJC, JNJ, JNJ, JNJ, COV, COV, COV, EW, EW, EW, MDT, MDT, MDTElsevier Business Intelligence to hold a conference
IN3 Medical Device 360 is being held in Dublin, Ireland on April 8-10.
News For JPM;PJC;JNJ;COV;EW;MDT From The Last 14 Days
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October 22, 2014
12:42 EDTJPMJPMorgan management to meet with MKM Partners
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07:21 EDTMDTU.S. DHS investigates medical gear for potential cyber defects, Reuters says
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06:46 EDTJPMJPMorgan head says illness has not changed his goals, Bloomberg says
JPMorgan CEO Jamie Dimon said that his throat cancer has not changed his goals to still work, even as he aims for retirement ambitions filled with teaching and humanitarianism, according to Bloomberg, citing comments from Dimon. Reference Link
06:16 EDTJPMBNY Mellon's Hong Kong unit to launch wealth management strategy, FT says
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05:31 EDTJNJJohnson & Johnson announces commitment to speed Ebola vaccine development
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October 21, 2014
12:37 EDTCOVOptions with increasing implied volatility
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09:52 EDTCOV, MDTCovidien rises after Medtronic maintains merger date language
Shares of Covidien (COV) are rising in early trading after Medtronic (MDT), in its latest regulatory filing answering questions for shareholders regarding its proposed takeover of the Irish drugmaker, left its language regarding the expected closing date unchanged. WHAT'S NEW: In its most recent filing, Medtronic again stated, "As of the date of this joint proxy statement/prospectus, the transaction is expected to be completed late in the fourth calendar quarter of 2014 or early 2015. However, no assurance can be provided as to when or if the transaction will be completed. The required vote of Medtronic and Covidien shareholders to adopt the required shareholder proposals at their respective special meetings, as well as the necessary regulatory consents and approvals, must first be obtained and other conditions specified in the conditions appendix must be satisfied or, to the extent applicable, waived." ANALYST REACTION: Research firm BTIG says Medtronic's amended regulatory filing on the Covidien transaction increases the firm's confidence of the deal closing by early 2015. The firm adds it would be "stunned" to see Medtronic walk away from the merger after the company again showed commitment to the acquisition. WHAT'S NOTABLE: AbbVie (ABBV) last night confirmed that the company and Shire (SHPG), another Irish domiciled drugmaker, agreed to terminate their proposed merger. AbbVie said its decision was based upon its assessment of the September 22 notice issued by the U.S. Department of Treasury, which re-interpreted longstanding tax principles in a "uniquely selective manner designed specifically to destroy the financial benefits of these types of transactions." AbbVie continued that the Treasury notice "introduced an unacceptable level of risk and uncertainty given the magnitude of the proposed changes" and the stated intention of the department to continue to revise tax principles to further impact such "tax inversion" transactions. AbbVie noted that it has agreed to pay Shire a break fee of approximately $1.64B due to the deal falling through. PRICE ACTION: In early trading, shares of Covidien trading in New York rose 4% to $88.86, Medtronic advanced 1% to $64.57, Shires gained 0.7% to $185.82 and AbbVie added 1.4% to $55.16.
09:43 EDTCOV, MDTAmended filing increases confidence in Covidien deal at BTIG
BTIG says Medtronic's (MDT) amended regulatory filing on the Covidien (COV) transaction increases its confidence of the deal closing by early 2015. The firm adds it would be "stunned" to see Medtronic walk away from the merger after the company again showed commitment to the acquisition. Shares of Covidien are up 3% to $88.11 in early trading.
09:11 EDTCOV, MDTMedtronic keeps language unchanged on merger closing date
Medtronic in its latest regulatory filing answering questions for shareholders regarding its proposed takeover of Covidien (COV) left the language unchanged around the expected closing date. The company again stated, "As of the date of this joint proxy statement/prospectus, the transaction is expected to be completed late in the fourth calendar quarter of 2014 or early 2015. However, no assurance can be provided as to when or if the transaction will be completed. The required vote of Medtronic and Covidien shareholders to adopt the required shareholder proposals at their respective special meetings, as well as the necessary regulatory consents and approvals, must first be obtained and other conditions specified in the conditions appendix must be satisfied or, to the extent applicable, waived."
08:31 EDTJPMEU fines JPMorgan, UBS, Credit Suisse for cartel on derivatives
The European Commission has found that four international banks, RBS (RBS), UBS (UBS), JP Morgan (JPM) and Credit Suisse (CS), operated a cartel on bid-ask spreads of Swiss franc interest rate derivatives in the European Economic Area. The Commission imposed fines worth a total of EUR 32.36M. RBS received immunity from fines for revealing the existence of the cartel to the Commission. UBS and JPMorgan received reductions of their respective fines for cooperating with the investigation under the Commission's 2006 Leniency Notice. UBS was fined EUR 12.65M, JP Morgan fined EUR 10.53M and Credit Suisse was fined EUR 9.17M.
08:28 EDTJPMEuropean Commission fines JMorgan EUR 61.68M over Libor influencing
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08:18 EDTJPMBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
08:12 EDTJPMJPMorgan, UBS, Credit Suisse to be fined by EU over Libor rigging, Reuters says
JPMorgan (JPM), UBS (UBS) and Credit Suisse (CS) will be fined $115M collectively for their roles in rigging Swiss franc Libor rates, with JPMorgan's fine of $89M making up the lion's share of the penalty, said Reuters, citing a person familiar, who added that Royal Bank of Scotland (RBS) would not be penalized for its own role since it alerted the European Commission to the issue. Reference Link
October 20, 2014
13:40 EDTCOVOptions with increasing implied volatility
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12:36 EDTJNJOptions with decreasing implied volatility
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09:31 EDTJPMRobinhood.org to hold conference
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08:14 EDTJNJPharmacyclics files supplmeental NDA for Imbruvica for macroglobulinemia
Pharmacyclics (PCYC) announced that it has submitted a supplemental New Drug Application to the FDA based on data from a Phase 2 study evaluating the use of IMBRUVICA in patients with Waldenstrom's macroglobulinemia. IMBRUVICA, which received FDA Breakthrough Therapy Designation in February 2013 for patients with WM, is being jointly developed and commercialized by Pharmacyclics and Janssen Biotech (JNJ).
07:21 EDTJPMFederal Reserve Bank of New York and Boston to hold a workshop
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07:20 EDTMDTInternational Continence Society to hold annual meeting
ICS Annual Meeting 2014 is being held in Rio de Janeiro, Brazil on October 20-24.
07:12 EDTMDT, COVCongress of Neurological Surgeons to hold annual meeting
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