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Stock Market & Financial Investment News

News Breaks
May 13, 2014
04:55 EDTLGND, LGND, LGND, MDCO, MDCO, MDCO, ESRX, ESRX, ESRX, NPSP, NPSP, NPSP, BDSI, BDSI, BDSI, FEIC, FEIC, FEIC, HUM, HUM, HUM, IDIX, IDIX, IDIX, SYK, SYK, SYK, STE, STE, STE, PRTA, PRTA, PRTABofA/Merrill to hold a conference
2014 Healthcare Conference to be held in Las Vegas on May 13-15.
News For LGND;STE;SYK;IDIX;HUM;FEIC;BDSI;NPSP;ESRX;MDCO;PRTA From The Last 14 Days
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February 7, 2016
14:45 EDTHUMLeerink healthcare services analyst holds analyst/industry conference call
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February 5, 2016
10:22 EDTSTESTERIS management to meet with Stephens
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10:08 EDTESRXExpress Scripts calls active
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07:51 EDTPRTAWoodford calls Alkermes, Prothena selloffs 'greatly overdone'
British businessman Neil Woodford's Woodford Investment Management said it added to Alkermes (ALKS) and Prothena (PRTA) positions at what it considers to be "extremely attractive valuation levels." In its January letter to investors, the fund says the recent share price moves "look greatly overdone." Woodford also sold its position in GlaxoSmithKline (GSK) and initiated a new stake in Theravance Biopharma (TBPH). The company "retains a valuable economic interest in the future commercial potential of the respiratory franchise being developed in partnership with GlaxoSmithKline," the fund wrote. It also has "some very interesting, albeit earlier-stage, assets in therapeutic areas such as chronic obstructive pulmonary disease, cardiovascular & renal disease," it added. Woodford made no mention of Northwest Biotherapeutics (NWBO) in the letter, a company he invested in last year. Woodford Investment Management, established in 2014, describes itself as the "the opportunity for Neil Woodford, one of the UK's most highly-regarded fund managers, to distil his 30 years of experience and learning into a business founded on his own principles." Reference Link
February 3, 2016
08:33 EDTMDCOThe Medicines Co. names Alexander Denner to board
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February 2, 2016
16:10 EDTFEICFEI Company sees Q1 GAAP EPS 46c-57c, consensus 84c
Sees Q1 revenue $215M-$225M, consensus $239.79M.
16:09 EDTFEICFEI Company sees FY16 GAAP EPS $3.55-$3.70, consensus $3.91
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16:08 EDTFEICFEI Company reports Q4 EPS $1.17, consensus $1.11
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09:01 EDTLGNDLigand enters into OmniAb platform license pact with Tizona
Ligand Pharmaceuticals announced it has entered into a worldwide license agreement with Tizona Therapeutics, Inc. Under the license, Tizona will use the OmniRat, OmniMouse and OmniFlic platforms to generate fully human mono- and bispecific antibodies. Ligand will be eligible to receive annual platform access payments as well as patent filing fees, clinical milestone payments and royalties for each successful OmniAb antibody. Tizona will be responsible for all costs related to the program.
February 1, 2016
14:28 EDTSYKStryker deal for Smith & Nephew now unlikely, says Piper Jaffray
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12:13 EDTSYKOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday, but off their worst levels of the day, as oil is once again being weighed on by worries of slower growth in China. Several M&A announcements helped fuel speculation that deal-making may be set to pick up, but the headwinds of lower oil prices and weak economic data are outweighing that potential boost and keeping stocks in the red to start the month. ECONOMIC EVENTS: In the U.S., personal income rose 0.3% in December, versus expectations for an increase of 0.2%, while spending was flat, versus expectations for an increase of 0.1%. Markit's manufacturing purchasing managers index for January dipped to 52.4 in the final January reading, down from the 52.7 flash reading and the below the 52.6 reading that was expected. The Institute for Supply Management's manufacturing index for January came in at 48.2, below the 48.4 that analysts expected. Construction spending rose 0.1% in December, which was weaker than the 0.6% increase that was forecast. In China, the statistics bureau's official manufacturing purchasing managers index fell to 49.4 in January from 49.7 in December. The private Caixin manufacturing PMI edged up to 48.4 from 48.2 in the prior reading, but both figures still remain in contraction territory. In Europe, Markit's manufacturing PMI for the euro zone dropped to 52.3 from December's 53.2, in-line with the earlier flash estimate. COMPANY NEWS: Shares of Twitter (TWTR) advanced 9% after tech reporter Jessica Lessin said private equity firm Silver Lake and investor Marc Andreessen have "considered some sort of deal" for the microblog service operator. Lessin noted in the report published on her site, The Information, that she did not know if deal talks are "active" now between Andreessen, Silver Lake and Twitter... Alere (ALR) surged 45% to $54 per share near midday after Abbott (ABT) agreed to acquire the company for $56 per share at a total expected equity value of $5.8B. In other Monday M&A news, Questar (STR) rose 22% after Dominion Resources (D) agreed to acquire it for $25 per share, or about $4.4B, and assume Questar's outstanding debt. Meanwhile, Stryker (SYK) announced a deal to acquire Sage Products for $2.775B in cash. The buyers' shares did not fare as well in the wake of the deal announcements, as Abbott slipped 0.5%, Dominion dipped 1% and Stryker fell 1%. Also lower were shares of Smith & Nephew (SNN), which slid fractionally as investors may have been concerned that Stryker's deal decreases the likelihood that it will come after S&N. Additionally, Smith & Nephew announced that its CEO Olivier Bohuon has been diagnosed with a "highly treatable" form of cancer. MAJOR MOVERS: Among the notable gainers was Lumber Liquidators (LL), which gained 8.5% after a judge accepted the company's $10M plea deal to settle timber source crime charges, according to media reports. Also higher was Chipotle (CMG), which rose 5.5% after The Wall Street Journal reported that the Centers for Disease Control and Prevention is expected to formally declare the end to its E.coli outbreak as soon as today. In addition, Sysco (SYY) and Aetna (AET) were up 7% and 2%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Nokia (NOK), which fell 12% after it forecasted how much revenue it expects to gain from its IP portfolio after its patent deal with Samsung (SSNLF) and its shares were downgraded at Canaccord and BofA Merrill Lynch. Also lower was GoPro (GPRO), which was slid 5% after analysts from Piper Jaffray and Citi predicted that the company's guidance to be issued this week will disappoint investors. In addition, Roper Technologies (ROP) and ImmunoGen (IMGN) were down 6.5% and 5.7%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 56.40, or 0.34%, to 16,409.90, the Nasdaq was down 12.25, or 0.27%, to 4,601.70, and the S&P 500 was down 6.51, or 0.34%, to 1,933.73.
08:51 EDTMDCOThe Medicines Co. completes divestiture of hemostasis portfolio to Mallinckrodt
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08:09 EDTSYKOptions expected to be active
Options expected to be active: GOOGL GOOG YHOO UPS KORS UPS BAX RCL CCL PFE AET D STR DWA CMG ABT SYK.
07:34 EDTSYKStryker expects Sage Products acquisition to close in 2Q16
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07:33 EDTSYKStryker raises FY16 adjusted EPS to $5.55-$5.75 from $5.50-$5.70
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07:33 EDTSYKStryker agrees to acquire Sage Products from Madison Dearborn for $2.775B
Stryker announced a definitive agreement to acquire Sage Products from Madison Dearborn Partners in an all cash transaction for $2.775B. The transaction includes an anticipated future tax benefit which is expected to exceed $500M and to positively impact cash flows over approximately 15 years. Sage develops, manufactures and distributes disposable products targeted at reducing "Never Events," primarily in the intensive care unit and MedSurg hospital unit setting. Sage sales for fiscal 2015 totaled $430M, up 13% over the prior year. The closing of the transaction is subject to expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. The transaction is expected to be accretive to Stryker's 2016 adjusted net earnings per diluted share excluding acquisition, integration-related and intangible amortization charges and will continue to be accretive thereafter.
07:31 EDTSYKStryker agrees to acquire Sage Products from Madison Dearborn for $2.775B
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06:03 EDTHUMAetna on track to close Humana transaction in 2H16
The company commented, "We continue to work diligently with the Department of Justice and state regulators toward final approval of our proposed acquisition of Humana, and we continue to advance our integration readiness plans. We have obtained seven of the necessary state approvals, and we believe we remain on track to close the transaction in the second half of 2016."
January 29, 2016
14:24 EDTHUMEarnings Watch: Aetna down 9% since last report
Aetna (AET) is scheduled to report fourth quarter earnings before the market open on Monday, February 1, with a conference call scheduled for 8:30 am ET. Aetna, a diversified health care benefits company in the United States, operates in three segments: Health Care, Group Insurance, and Large Case Pensions. EXPECTATIONS: Analysts are looking for earnings per share of $1.21 on revenue of $14.93B, according to First Call. The consensus range for EPS is $1.16-$1.32 on revenue of $14.44B-$15.36B. LAST QUARTER: Aetna reported third quarter EPS of $1.90 on revenue of $14.97B against analyst estimates of $1.77 and $14.95B, respectively. The company raised its fiscal 2015 EPS view to $7.45-$7.55 from "at least $7.40." Operating earnings were $668.6M for Q315 compared with $638.6M for Q314. The increase in operating earnings was primarily due to higher underwriting margins in Aetna's Health Care segment, partially offset by an increase in general and administrative expenses and lower underwriting margins in Aetna's Group Insurance segment. On January 11, Aetna said it see FY15 EPS at the high end of the $7.45-$7.55 range. Consensus for FY15 EPS is $7.54. STREET RESEARCH: On January 15, Wells Fargo said it expects health insurers' stock to do well this year, as the firm expects M&A deals made the last years to increase profits this year, and it thinks investors should be attracted to what it sees as the defensive names in the sector. Wells does not believe that any changes to or replacements of the ACA will be worse for the sector than the status quo. It identified Aetna and HCA Holdings (HCA) as its favorite names in the sector. On January 25, Leerink analyst Ana Gupte said she believed the recent selloff has provided a "strong" buying opportunity in the Managed Care space. Valuations are attractive on multiple metrics, Gupte told investors in a research note. Her top picks are UnitedHealth (UNH), Aetna, Humana (HUM) and Molina Healthcare (MOH). The analyst also favors Anthem (ANTM) and Cigna (CI). PRICE ACTION: Shares of Aetna are down approximately 9% since its last earnings report. The stock is up 2.6% to $101.42 in Friday afternoon trading ahead of Monday morning's report.
10:13 EDTESRXExpress Scripts to exclude Valeant's Glumetza from formulary
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