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Stock Market & Financial Investment News

News Breaks
January 26, 2013
15:47 EDTMDT, CRDC, GE, SYK, AETMedical device makers offsetting health tax with surcharges, WSJ says
Some medical device makers, facing a new 2.3% on device sales, are adding surcharges or price increases to offset the new tax that went int effect January 1, says the Wall Street Journal, adding that insurers too have attributed premium increases to the health law. Aetna (AET) CEO Mark Bertolini said in December that premiums for a subset of small business customers could "go up as much as 100 percent." Reference Link
News For MDT;CRDC;GE;SYK;AET From The Last 14 Days
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September 19, 2014
11:25 EDTMDTSenators bring bill requiring companies to settle before inverting
U.S. Senators Sherrod Brown and Dick Durbin announced new legislation requiring corporations to "Pay What You Owe Before You Go" – settling their U.S. tax bill before relocating to a foreign country. "Everyone knows that before you leave a restaurant you have to settle your tab," Brown said. "Corporations shouldn’t get to play by different rules. While it is critical that we reach a long-term solution that reforms our international corporate tax code by implementing a global minimum tax and reducing the statutory tax rate, this bill is an immediate, commonsense measure to ensure businesses settle up before leaving the U.S." Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Allergan (AGN).
06:49 EDTAETGovernment says 7.3M in private Obamacare plans, NY Times reports
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September 18, 2014
12:18 EDTMDTNY AG announces national settlement with Medtronic for Medicaid violations
Attorney General Eric T. Schneiderman announced that 46 states and the District of Columbia have reach a settlement agreement with Minnesota-based company Medtronic to resolve claims under the False Claims Act that Medtronic improperly induced physicians to recommend Medtronic devices to treat cardiac rhythmic disease. New York led a national team composed of members from Oregon, Texas and California to negotiate the settlement. The federal government settled its matter in May of this year...The agreement requires Medtronic to pay the settling states $362,362, which will go to those states’ Medicaid programs. The matter was brought by a whistleblower, Adolfo Schroeder, and was filed in U.S. District Court for the Eastern District of California. The Attorney General would like to thank Mr. Schroeder for bringing this matter to the government’s attention. Under the terms of the agreement, the New York Medicaid Program will receive $67,369.31. Reference Link
06:52 EDTGEGeneral Electric shares attractive at current levels, says Barclays
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September 17, 2014
15:19 EDTSYKStryker says targeting 60% of premium market in China by end of 2015
Says targeting 80% of premium market in China by 2020.
14:49 EDTSYKStryker says targeting dividend hike in line or above EPS growth
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14:39 EDTSYKStryker backs Q3 adjusted EPS $1.12-$1.16, consensus $1.14
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14:36 EDTSYKStryker says globalization remains a 'top priority'
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10:00 EDTGEOn The Fly: Analyst Initiation Summary
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09:08 EDTMDTMedtronic launches new Balloon Kyphoplasty Platform
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07:43 EDTMDTBofA/Merrill to hold a conference
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07:39 EDTGEMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
06:09 EDTMDTIntegra LifeSciences to acquire Medtronic instrumentation lines for $60M
Integra LifeSciences (IART) and Medtronic (MDT) announced an agreement in which Integra will acquire Medtronic's MicroFrance and Xomed manual ENT and laparoscopy instrumentation lines for approximately $60M in cash. Integra expects the transaction to close in Q4. Integra will acquire a portfolio of approximately 4,000 MicroFrance and Xomed manual ENT and laparoscopic surgical instruments, as well as the St. Aubin le Monial, France manufacturing facility. Sales from the products being acquired totaled approximately $30M, two-thirds of which were generated outside the U.S. Integra expects to record approximately $27M-$30M in revenue and approximately 10c of adjusted EPS in calendar 2015 from this acquisition. The earnings accretion should rise after the first year once certain sales transitions are complete. The company expects the acquisition to contribute less than $5M in revenue and be neutral to earnings in Q4. The transition and integration is expected to be completed by 2H15.
September 16, 2014
16:36 EDTGEGeneral Electric initiated with a Buy at Stifel
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11:51 EDTMDTOECD looks to close tax loopholes with new proposals
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10:31 EDTGEGE Hitachi's ESBWR receives NRC design certification approval
GE Hitachi Nuclear Energy announced that its Economic Simplified Boiling Water Reactor design certification has been approved by the U.S. Nuclear Regulatory Commission. The commission’s action acknowledges the finding by NRC staff that the ESBWR design meets all safety and regulatory requirements. Per the NRC’s previously published schedule, the final ESBWR design certification rule is expected to be published in the Federal Register by the end of September.
08:25 EDTGESnecma expects 1,800 CFM56s to be produced in FY19
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08:07 EDTMDTMedtronic drug-coated baloon shows strong clinical, economic benefit
Presented for the first time at the 2014 Transcatheter Cardiovascular Therapeutics, or TCT, conference, the latest clinical and economic data on the IN.PACT Admiral drug-coated balloon, or DCB, from Medtronic augments an already robust body of evidence that continues to drive a reconsideration of the standard of care for peripheral artery disease, or PAD, in leg arteries above the knee. The IN.PACT Admiral DCB remains an investigational medical device in the United States. No drug-coated balloon has yet received approval from the FDA. The new data come from the real-world IN.PACT Global study, the largest and most rigorous post-market evaluation of its kind for any peripheral artery intervention, and from an ongoing economic outcomes analysis of the U.S. phase of the landmark IN.PACT SFA trial. Together, the results show that the IN.PACT Admiral DCB is not only clinically superior, but also cost-effective for the treatment of atherosclerotic lesions in the superficial femoral artery, or SFA, or proximal popliteal artery, or PPA, at 12 months compared to standard percutaneous transluminal angioplasty, or PTA.
07:31 EDTMDTEuropean Association for Study of Diabetes to hold annual meeting
50th Annual Meeting of EASD to be held in Vienna, Austria on September 15-19.
06:54 EDTGEGE evades geared design in jet engine war versus Pratt, Reuters says
GE's (GE) Chief Technology Officer Mark Little said that the company evaded using a geared design for its new engine for narrowbody aircrafts due to worries about weight and soundness, as the company duels with competitor Pratt & Whitney for engine orders, according to Reuters, citing comments from Little. Pratt & Whitney is part of United Technologies (UTX). Reference Link
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