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Stock Market & Financial Investment News

News For COV;INTC;MDT;VRTX;BSX;JNJ From The Last 14 Days
Check below for free stories on COV;INTC;MDT;VRTX;BSX;JNJ the last two weeks.
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August 8, 2014
12:01 EDTINTCAltisource names Juneja Chief Technology Officer
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11:51 EDTINTCNVIDIA rallies after Q2 quarter profit, Q3 revenue outlook top estimates
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10:36 EDTCOVOptions with increasing implied volatility
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09:01 EDTJNJJohnson & Johnson remains undervalued, says Cowen
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07:01 EDTCOV, MDTHarvard professor says Treasury can reduce inversion incentives, NY Times says
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August 7, 2014
10:51 EDTCOVOptions with increasing implied volatility
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09:31 EDTMDTMedtronic receives FDA approval for Attain Performa quadripolar lead
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08:58 EDTCOV, MDTMedtronic receives request of additional info from FTC for Covidien acquisition
On August 6, 2014, in connection with the FTC review of the pending acquisition by Medtronic (MDT) of Covidien (COV), which will result in both Medtronic and Covidien becoming wholly owned subsidiaries of Medtronic, Medtronic received a request for additional information and documentary material from the FTC. Issuance of the second request extends the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 until 30 days after Medtronic and Covidien have substantially complied with the second request, unless the waiting period is extended voluntarily by the parties or terminated earlier by the FTC. Medtronic and Covidien intend to cooperate fully with the FTC and continue to expect the Transaction to be completed in the fourth calendar quarter of 2014 or early 2015.
08:26 EDTMDTMedtronic risk/reward attractive, says Morgan Stanley
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06:42 EDTCOV, MDTObama to look to limit inversion deals, Politico says
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06:04 EDTINTCStocks with implied volatility below IV index mean; INTC SNDK
Stocks with implied volatility below IV index mean; Intel (INTC) 19, SanDisk (SNDK) 27 according to iVolatility.
August 6, 2014
18:15 EDTBSXBoston Scientific discloses subpoenas in 10-Q filing
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13:42 EDTMDT, COVMedtronic says approval for Covidien deal 'progressing'
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13:39 EDTCOV, MDTMedtronic CEO says Covidien deal should close end of year, early next
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13:38 EDTCOV, MDTMedtronic CEO says 'progressing' in Covidien deal approval process
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12:59 EDTMDT, COVCovidien drops as Treasury explores ways to stymie inversions
Shares of medical device and drug maker Covidien (COV) are falling after multiple media outlets reported that the Treasury Department is looking into ways of curtailing tax inversion deals. Covidien has agreed to be acquired by Medtronic (MDT) in a tax inversion deal. BACKGROUND: Tax inversions refer to an acquisition of one company, usually officially based in a country in Europe or elsewhere, by a U.S. company, following which the acquiring company becomes domiciled in the same country as the company that it bought. The switch has the potential to significantly lower the acquiring company's tax rate. WHAT'S NEW: The Treasury Department is looking at options that would enable the Obama administration to curtail inversion deals without authorization from Congress, multiple media outlets reported last night and today. ANALYST REACTION: In a note to investors today, Wells Fargo analyst Larry Biegelsen wrote that he believes that Medtronic would buy Covidien even if the transaction cannot be done as an inversion. At a conference in June, Medtronic CFO Gary Ellis said that his company would "do the deal whether it's an inversion or not inversion," Biegelsen stated. If no inversion is possible, Medtronic would respond by using less of its stock and more debt to fund the transaction, the analyst believes. Such a change would actually cause Medtronic's cash earnings per share to be higher in the first and second year after the deal than under the current structure, the analyst indicated. He kept an Outperform rating on Medtronic. PRICE ACTION: In early afternoon trading, Covidien dropped 2% to $84.50 and Medtronic fell 1% to $61.50. Meanwhile, drug maker Shire (SHPG), which has agreed to merge with its peer AbbVie (ABBV) in a tax inversion deal, is falling 4% to $236.
12:20 EDTMDT, COVMedtronic remains committed to Covidien deal, says Wells Fargo
Following recent conversations with the company, Wells Fargo believes Medtronic (MDT) remains committed to the acquisition Covidien (COV), even if the deal can't be structured as an inversion. The firm notes that at its conference in June, Medtronic CFO Gary Ellis stated that "from Medtronic's perspective, we would do the deal whether it's an inversion or not inversion." Wells adds, however, that Medtronic would likely try to renegotiate the terms of the deal if an inversion is not possible.
06:41 EDTMDT, COVObama administration may restrict inversion tax benefits, NY Times says
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06:21 EDTJNJ, MDTPiper Jaffray to hold a summit
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06:00 EDTINTCStocks with implied volatility below IV index mean; INTC SNDK
Stocks with implied volatility below IV index mean; Intel (INTC) 19, SanDisk (SNDK) 27 according to iVolatility.
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