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Stock Market & Financial Investment News

News Breaks
April 8, 2013
12:19 EDTLUFK, GE, FTK, WFT, BCRX, OMPI, VRX, JNJOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as investors await the start of the latest earnings season, which kicks off unofficially after today's close with Alcoa's (AA) report. The averages all fell into negative ground soon after the open and found a level, from which they have been range-bound ever since. With a very quiet economic calendar today and generally depressed expectations for the earnings seasons, the lackluster trading may extend from here until the close... ECONOMIC EVENTS: In the U.S., no major economic data was reported... COMPANY NEWS: General Electric (GE) agreed to acquire Lufkin (LUFK), which supplies products, technology and services to the oil and gas industry, for $3.3B, or $88.50 per share in cash. Lufkin soared over 37% to trade within 50c of the agreed upon per share price at midday, while some of its peers rose as well, including Flotek (FTK) and Weatherford (WFT), which both advanced over 3%. GE shares, meanwhile, slid 0.4%... MAJOR MOVERS: Among the notable gainers was BioCryst (BCRX), which rose 22% amid reports of new bird flu infections in China. BioCryst is developing peramivir, an investigational anti-viral agent to treat influenza. Among the noteworthy losers was Obagi Medical (OMPI), which fell 6% after Merz Pharma withdrew its offer to acquire Obagi in the face of a $24 per share competing offer from Valeant Pharmaceuticals (VRX). Also lower were shares of Johnson & Johnson (JNJ), which slid nearly 2% after JPMorgan lowered it rating on the stock to Neutral from Overweight... INDICES: Near noon, the Dow was down 51.84, or 0.36%, to 14,513.41; the Nasdaq was down 3.11, or 0.10%, to 3,200.75; and the S&P 500 was down 1.63, or 0.10%, to 1,551.65.
News For LUFK;GE;FTK;WFT;BCRX;OMPI;VRX;JNJ From The Last 14 Days
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July 17, 2014
09:23 EDTGEGE's CFM JV says signed $21.4B in new deals at Farnborough Air Show
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08:52 EDTGEGE, JV companies garner over $36B in orders/commitments at Farnborough Air Show
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08:08 EDTVRXValeant receives FDA clearance for Victus Femtosecond Laser Platform
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07:00 EDTVRXPaulson says Allergan could be wroth $220 per share, WSJ reports
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July 16, 2014
17:46 EDTVRXAckman says he thinks Allergan-Valeant deal eventually gets done
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17:42 EDTVRXPershing Square's Ackman says Allergan's attack on Valeant unprecedented
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14:09 EDTGEGeneral Electric in talks to sell appliances business, Bloomberg says
General Electric, which tried and failed to sell its household appliances business in 2008, is once again in talks with potential acquirers about the unit, said Bloomberg, citing people familiar with the matter. The appliances business could fetch $1.5B-$2.5B in a sale, according to sources quoted in the report. Reference Link
14:00 EDTGEGeneral Electric in talks to sell appliances business, Bloomberg reports
10:36 EDTVRXTreasury calls on Congress to halt inversion deals
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10:10 EDTGEGE Aviation, Barco's Defence & Aerospace unit sign collaboration agreement
GE Aviation and Barcoís Defence & Aerospace division have signed an MOU for collaboration in the development of a new family of open system cockpit display products, targeted at display and avionic system applications for helicopters. This collaboration combines the companiesí respective investments in new technology with their experience in delivering integrated cockpit display systems, open architecture ARINC 653 computing platforms, and expertise in the design and production of high quality cockpit displays for a new generation of flexible display and computing products. It is anticipated that the products will be integrated with an open suite of development and integration tools enabling aircraft prime contractors and application providers to collaborate in customizing functionality and optimizing aircraft performance. The solutions are intended to host existing applications from the two companies and be compatible with industry standard ARINC 653 and Barcoís MOSArt application interfaces.
09:35 EDTGEChina's 9 Air places $3.7B CFM engine order
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09:16 EDTVRXPershing Square sends letter to Allergan's board of directors
Pershing Square Capital Management announced it has sent a letter to Allergan's Board of Directors. Pershing Square last Friday filed definitive solicitation materials with the U.S. SEC to seek shareholder support for a special meeting of Allergan shareholders and is now actively soliciting shareholder support to call the meeting. At this special meeting, Allergan shareholders will be able to voice their opinions on a number of critical matters, including the proposed removal of six incumbent members of the Allergan board, the proposed appointment of an independent slate of directors and certain other proposed provisions to improve Allerganís corporate governance.
09:09 EDTGEGeneral Electric-powered Boeing 777X commissioned by Qatar Airways
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09:03 EDTGEQatar Airways commits to additional 50 GE9X-powered Boeing 777x
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08:55 EDTJNJJohnson & Johnson pullback a buying opportunity, says Leerink
Leerink views the post-earnings pullback in shares of Johnson & Johnson as a buying opportunity. The firm expects "several" more quarters of outperformance and raised its price target for the stock to $115 from $110. It keeps an Outperform rating on J&J.
08:18 EDTGEGE announces presentation of new flutemetamol PET scan data
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08:16 EDTVRXLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
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08:10 EDTGEBoeing, Airbus narrow engine choices in move toward efficient jets, WSJ says
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07:59 EDTVRXTreasury Secretary urges Congress to take action on tax inversions
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07:25 EDTJNJJohnson & Johnson should be bought on pullbacks, says RBC Capital
RBC Capital believes that Johnson & Johnson reported strong Q2 results, and the company raised its estimates for the company. The firm continues to recommend buying the stock on pullbacks.
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