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Stock Market & Financial Investment News

News For AET;GE;SYK;MDT;CRDC From The Last 14 Days
Check below for free stories on AET;GE;SYK;MDT;CRDC the last two weeks.
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July 28, 2014
10:36 EDTAETAetna and Geisinger Health System reach five-year agreement
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06:52 EDTMDTFormer official says Obama could limit inversion deals, NY Times reports
President Obama could limit tax inversion deals on his own authority, said Stephen Shay, former deputy assistant Treasury secretary for international tax affairs in the Obama administration, according to The New York Times. A 1969 law gives the president the ability to restrict inversion deals, said Shay, who also worked in the Reagan administration, the newspaper stated. 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 Alletgan (AGN). Reference Link
July 25, 2014
12:11 EDTAETWellCare profit warning sinks managed care names
A number of managed care names are falling after one of the companies in the sector, WellCare (WCG), preannounced significantly weaker than expected results. UBS, however, recommends using the weakness in the sector as a buying opportunity. WHAT'S NEW: WellCare, which specializes in managing Medicaid and Medicare plans, preannounced a second quarter per share loss of 7c, excluding certain items. Analysts on average expected the company to report a per share profit of 90c. The company's revenue came in slightly above expectations. WellCare cut its full-year earnings per share guidance to $2.20-$2.50 from $4.40-$4.75. The company said recipients of a new Medicaid program in Florida utilized more medical services than expected since the company began administering the program in May. Additionally, the company took an impairment charge related to an acquisition and it had an unfavorable reserve development. ANALYST REACTION: The factors cited by WellCare for the cut in its guidance appear to be specific to that company, UBS analyst A.J. Rice wrote. Meanwhile, data from other companies that administer Medicaid plans indicate that the increased utilization costs in that state are also specific to WellCare, Rice contended. For example, Centene (CNC) reported Q2 results earlier this week and indicated that utilization trends for newly covered beneficiaries in Florida was largely in line with expectations, while UnitedHealth (UNH) said its Medicaid business had performed well last quarter, the analyst stated. Additionally, WellCare said that its higher than expected medical utilization costs had been caused primarily by drug costs that exceeded its forecast, Rice stated. Since drug costs tend to be known relatively quickly, United Health and Centene would have divulged any issues with drug costs in conjunction with their Q2 results, Rice said. The analyst recommended that investors buy Aetna (AET), Cigna (CI), United Health and WellPoint (WLP) on any weakness today. PRICE ACTION: In late morning trading, Aetna fell 1.5% to $83, Cigna lost 1% to $95.50, UnitedHealth lost 1% to $84.50, WellPoint slid 1.5% to $113.50 and Centene tumbled 7% to $74 while WellCare plunged 19% to $62.
10:52 EDTAETWellCare issues largely company-specific, says UBS
UBS notes that aside from WellCare (WCG), which attributed its lowered guidance to the start-up of its Florida MMA program and other issues, that Centene (CNC), WellPoint (WLP), UnitedHealth (UNH) and Humana (HUM) are the leaders in Medicaid in the state. However, the firm believes a majority of WellCare's issues appear company specific and UBS views any weakness in UnitedHealth, WellPoint, Aetna (AET), or Cigna (CI) as opportunity to buy those four stocks, on all of which it has Buy ratings.
06:30 EDTMDTObama calls on Congress to end inversion deals, NY Times reports
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July 24, 2014
13:26 EDTCRDCBroadfin Capital reports 9.98% stake in Cardica
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08:19 EDTSYK, MDTLeerink medical devices analyst holds an analyst/industry conference call
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06:50 EDTAETConsumers received $9B in refunds from health insurers, The Hill says
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July 23, 2014
13:48 EDTGEHouse Natural Resources Committee to hold a hearing
The Subcommittee on Energy and Mineral Resources holds a hearing entitled, "American Metals and Mineral Security: An Examination of the Domestic Critical Minerals Supply and Demand Chain" with Doe Run Company's CEO Pyatt, Anthony Ku, of General Electric Co.ís GE Global Research and Mark Fellows, SNL Financial Analyst on July 23 at 2 pm. Webcast Link
13:36 EDTSYKIntuitive Surgical rises after Q2 EPS, revenue beat expectations
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08:56 EDTGEGeneral Electric weakness creates buying opportunity, says Argus
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08:11 EDTGEYingli Green Energy to supply PV modules to large project in Japan
Yingli Green Energy's (YGE) wholly-owned subsidiary, Yingli Green Energy Japan, has signed an agreement to supply 32 MWs of multicrystalline PV modules to a large-scale project located in Okayama, Japan. The company will deliver approximately 108K YGE 72 Cell Series modules for the project from January 2015 to December 2015. The project is financed by GE (GE) Energy Financial Services.
July 22, 2014
13:46 EDTAETCourt upholds Obamacare subsidies, NY Times says
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10:43 EDTAETAppeals court bars subsidies in health care law
A three-judge panel of the D.C. Circuit Court of Appeals struck down part of President Obama's healthcare law by siding today with plaintiffs who argued that the law barred the government from giving subsidies to people in states that chose not to set up their own insurance marketplaces. The appeals court stated, "Because we conclude that the ACA unambiguously restricts the section 36B subsidy to insurance purchased on Exchanges 'established by the State,' we reverse the district court and vacate the IRSís regulation." Twenty-seven states decided against setting up marketplaces, and another nine states partially opted out, according to the Washington Post.
08:36 EDTSYKStryker appoints CEO Kevin Lobo as chairman
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July 21, 2014
09:31 EDTGEGE gas engine technology chosen for power project in Mexico
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09:05 EDTGEGE unit invest $5M in Mebane manufacturing operations
GEís Industrial Solutions business is investing $5M to strengthen its Mebane North Carolina operations, adding production and testing capabilities that enhance the customer experience. The investment builds on the companyís local footprint that was expanded in October 2013 with the grand opening of GEís Power Equipment and Power Components global headquarters in Cary, North Carolina. The investment will enable Mebane operations to transition to a dedicated, regional customer experience center where co-located teams will work collaboratively to streamline manufacturing processes and bring new electrical distribution technologies to market. Production of GEís automatic transfer switches for the data center market is also included in the transition, creating approximately 60 jobs and related growth to the local economy.
08:16 EDTMDTDeutsche Bank analysts hold an analyst/industry conference call
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07:30 EDTGEGeneral Electric annual targets a 'stretch,' says JPMorgan
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07:18 EDTGEAlstom CEO not concerned over complexities added to deal by France, FT says
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