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Stock Market & Financial Investment News

News For MDT;CRDC;GE;SYK;AET From The Last 14 Days
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November 28, 2014
10:03 EDTMDTMedtronic, Covidien confirm EC approval of merger
Medtronic (MDT) and Covidien (COV) announced that the European Commission has conditionally cleared Medtronic's proposed acquisition of Covidien. The clearance decision is conditional on Medtronic's commitment to divest Covidien's drug coated balloon business. As previously announced, a subsidiary of Covidien entered into an agreement to divest Covidien's drug coated balloon business to The Spectranetics Corporation, and the divestiture is expected to close shortly following completion of Medtronic's acquisition of Covidien. The transaction is expected to close in early 2015 after receipt of certain additional regulatory clearances, approvals by both companies' shareholders and sanction by the High Court of Ireland.
07:45 EDTMDTEurope conditionally approves Covidien takeover by Medtronic
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November 26, 2014
15:21 EDTMDTMedtronic acquisition of Covidien receives U.S. FTC clearance
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14:28 EDTMDTMedtronic agrees to divest Covidien drug-coated balloon catheter business
Medtronic (MDT) has agreed to divest the drug-coated balloon catheter business of Covidien (COV) in order to settle Federal Trade Commission charges that its $42.9B acquisition of Covidien would likely be anticompetitive. Under the FTC’s proposed settlement, Medtronic will sell the drug-coated balloon catheter business to medical device company Spectranetics (SPNC), the FTC announced. According to the FTC’s complaint both Medtronic and Covidien are developing drug-coated balloon catheters to compete with C.R. Bard (BCR), which currently is the only company that supplies these products, used to treat peripheral artery disease, in the U.S. market. Medtronic and Covidien are the only companies with products in clinical trials in the Food and Drug Administration’s approval process, which makes it unlikely that other competitors could enter the market in time to counteract the effects of the merger, the FTC alleges. The Commission vote to accept the proposed consent order for public comment was 5-0. The FTC will publish the consent agreement package in the Federal Register shortly. The agreement will be subject to public comment for 30 days, beginning today and continuing through December 29, after which the Commission will decide whether to make the proposed consent order final.
07:21 EDTSYKSmith & Nephew could attract GBP14 per share takeover bid, says Bernstein
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November 25, 2014
15:35 EDTGEFederal Reserve proposes enhanced standards for regulation of GE Capital
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10:00 EDTGEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3M Company (MMM) initiated with an Underperform at RBC Capital... Ametek (AME) initiated with an Outperform at RBC Capital... AstraZeneca (AZN) initiated with an Outperform at Exane BNP Paribas... Bayer (BAYRY) initiated with a Neutral at Exane BNP Paribas... Carlisle (CSL) initiated with a Sector Perform at RBC Capital... Colfax (CFX) initiated with a Sector Perform at RBC Capital... Dover (DOV) initiated with a Sector Perform at RBC Capital... Eaton (ETN) initiated with a Sector Perform at RBC Capital... Emerson (EMR) initiated with a Sector Perform at RBC Capital... Evercore Partners (EVR) initiated with an Outperform at Macquarie... Fifth Street Asset (FSAM) initiated with a Buy at MLV & Co.... Flowserve (FLS) initiated with an Underperform at RBC Capital... General Electric (GE) initiated with an Outperform at RBC Capital... GlaxoSmithKline (GSK) initiated with an Underperform at Exane BNP Paribas... Grainger (GWW) initiated with a Sector Perform at RBC Capital... Hanesbrands (HBI) initiated with a Buy at UBS... Hercules Technology (HTGC) initiated with a Neutral at Macquarie... HomeStreet (HMST) initiated with a Neutral at Macquarie... Honeywell (HON) initiated with an Outperform at RBC Capital... IDEX Corp. (IEX) initiated with an Outperform at RBC Capital... Illinois Tool Works (ITW) initiated with a Sector Perform at RBC Capital... Ingersoll-Rand (IR) initiated with a Sector Perform at RBC Capital... ManTech (MANT) initiated with a Buy at Maxim... Novartis (NVS) initiated with an Outperform at Exane BNP Paribas... Nu Skin (NUS) initiated with a Neutral at Citigroup... Oppenheimer Holdings (OPY) initiated with a Neutral at Macquarie... Pentair (PNR) initiated with an Outperform at RBC Capital... Raymond James (RJF) initiated with a Neutral at Macquarie... Roche (RHHBY) initiated with an Outperform at Exane BNP Paribas... Roper Industries (ROP) initiated with an Outperform at RBC Capital... SPX Corp. (SPW) initiated with a Sector Perform at RBC Capital... Sanofi (SNY) initiated with an Outperform at Exane BNP Paribas... Tyco (TYC) initiated with an Outperform at RBC Capital... United Technologies (UTX) initiated with an Outperform at RBC Capital... WESCO (WCC) initiated with an Outperform at RBC Capital... Xylem (XYL) initiated with a Sector Perform at RBC Capital.
November 24, 2014
17:16 EDTGEGeneral Electric awarded $329.14M government contract
General Electric has been awarded an estimated maximum $329.14M firm-fixed-price, requirements type contract for performance-based holistic support of Air Force engine repair and overhaul, including worldwide customers. This contract was a sole-source acquisition. This is a five-year base contract, with one three-year option period. Location of performance is Ohio, with a May 31, 2020, performance completion date.
16:18 EDTGEGeneral Electric initiated with an Outperform at RBC Capital
Target $30.
11:25 EDTSYKStryker, Smith & Nephew rise after reports of renewed bid
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09:05 EDTSYKStryker weighing renewed Smith & Nephew bid, Bloomberg reports
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09:02 EDTGEZoetis names Roman Trawicki as president of global manufacturing and supply
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08:46 EDTSYKStryker weighing renewed Smith & Nephew bid, Bloomberg reports
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07:46 EDTSYKPfizer seen set to move on from AstraZeneca as restrictions lift, Telegraph says
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November 21, 2014
16:36 EDTAETMarket ends week higher as domestic data, foreign central banks boost shares
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14:27 EDTAETAetna raises quarterly dividend 11%, authorizes additional $1B share buyback
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14:26 EDTAETAetna raises quarterly dividend 11%, authorizes additional $1B share buyback
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13:31 EDTMDTCovidien announces mailing of definitive joint proxy statement, prospectus
Covidien (COV) announced, for purposes of the Irish Takeover Rules, that the definitive joint proxy statement of Covidien and Medtronic (MDT), which also serves as a prospectus of Medtronic Holdings Limited and comprises Covidien’s scheme circular required under Irish law is being sent today to Covidien and Medtronic shareholders. As previously announced, on June 15, Covidien and Medtronic entered into a definitive agreement pursuant to which Medtronic Holdings Limited, a new holding company incorporated in Ireland that will be renamed Medtronic plc, will acquire Covidien and Medtronic. The joint proxy statement/prospectus will contain important information about the transaction for shareholders of both companies, as well as notices of the shareholder meetings and instructions on voting online, by mail, by telephone or in person.
12:36 EDTGEMobileye growth story remains intact, says Wells Fargo
Wells Fargo attributes yesterday's pullback in Mobileye (MBLY) shares to concerns about the company's autonomous content in the long-term. Wells believes that while GM (GM) and Tesla (TSLA) semi-autonomous features initially will require only one EyeQ3 chip, the chip content will increase as the systems become more sophisticated. The firm thinks Mobileye's growth story remains intact and keeps an Outperform rating on the name. It raised its price target range for shares to $52-$56 from $51-$55.
09:27 EDTSYKRumors of Smith & Nephew bid from Stryker intensify, Daily Mail says
Shares of Smith & Nephew (SNN) rallied in U.K. trading amid "intensified" rumors that Stryker (SYK) will make a GBP 13B plus bid for its rival when its Takeover Panel restrictions are removed at month end, according to The Daily Mail's "This is Money." Reference Link
November 20, 2014
16:01 EDTGEBlackstone to puchase GE Japan's residential real estate
Blackstone (BX) announced that funds affiliated with Blackstone Real Estate Partners Asia will make an investment in connection with an agreement to acquire GE Japan's 100% owned residential real estate business for over ¥190B. The business owns and operates more than 200 residential properties, consisting of over 10,000 units primarily in Tokyo, Osaka, Nagoya and Fukuoka.
November 19, 2014
13:20 EDTGEGeneral Electric to partner with Chinese companies on energy, China Daily says
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09:09 EDTCRDCCardica downgraded to Hold from Buy at Craig-Hallum
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09:03 EDTCRDCCardica price target lowered to $1.75 from $4 at Wedbush
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08:15 EDTMDTMedtronic reported solid Q2 results, says Bernstein
Bernstein notes that Medtronic's (MDT) sales growth accelerated to 5%, and the firm thinks the company's market share of the ICD market is poised to increase next quarter. Bernstein views Medtronic as "a strong buy" into the close of its acquisition of Covidien (COV). The firm reiterates an Outperform rating on Medtronic.
08:04 EDTGEGE Healthcare announces Omnyx collaboration with Caradigm
GE Healthcare announced it will resell Caradigm’s Single Sign-On and Context Management solutions in the United States, Canada, and specific EU countries to provide connectivity between the Omnyx digital pathology platforms and designated Anatomic Pathology Laboratory Information Systems.
06:54 EDTMDTMedtronic reiterated as a top pick at JPMorgan
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November 18, 2014
12:08 EDTMDTOn The Fly: Midday Wrap
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09:08 EDTMDTMedtronic says regulatory processes for Covidien deal 'all on track'
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08:39 EDTMDTMedtronic says 'would not be surprised' to be at high end of FY15 guidance range
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08:39 EDTMDTMedtronic sees 2H15 gross margin 74.5%
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08:34 EDTMDTMedtronic sees Diabetes operations to have difficult comparison in Q3
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08:28 EDTMDTMedtronic sees U.S. approval for IMPACT Admiral balloon in Q1
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08:05 EDTCRDCCardica suspends next-gen MicroCutter XCHANGE 30 commercial launch
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07:20 EDTMDTMedtronic confirms commitment to Covidien transaction
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07:19 EDTMDTMedtronic backs FY15 EPS $4.00-$4.10, consensus $4.05
Narrows FY15 revenue guidance to up 4%-5% from 3%-5%.
07:17 EDTMDTMedtronic reports Q2 EPS 96c, consensus 96c
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November 17, 2014
15:16 EDTMDTNotable companies reporting before tomorrow's open
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10:31 EDTGEGE sees China order growth despite slowing economy, WSJ says
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08:57 EDTMDTMedtronic volatility elevated into Q2 and outlook
Medtronic November call option implied volatility is at 28, December is at 21, January is at 19, February is at 18; compared to its 26-week average of 19 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on November 18.
07:16 EDTAETMilken Institute--Faster Cures to hold a conference
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November 16, 2014
14:08 EDTMDTDaVita announces collaboration with Medtronic
DaVita Kidney Care, a division of DaVita HealthCare Partners (DVA) and leading provider of kidney care services, announced a collaboration with Medtronic (MDT) to better understand cardiovascular health in end stage renal disease, ESRD patients. The collaboration will focus on developing a pilot program using Medtronic's Reveal LINQ Insertable Cardiac Monitoring system to identify cardiac arrhythmias in patients receiving dialysis. "Medtronic recently announced data at the American Society of Nephrology meeting that showed a higher incidence of arrhythmias in patients receiving hemodialysis," said Ven Manda, vice president, Renal Care Solutions at Medtronic. "We are pleased to pursue this collaboration with DaVita to monitor more patients and gather additional data that will further our understanding of the relationship between dialysis and cardiac events in ESRD patients." "Given the high incidence rate of cardiovascular disease and events in ESRD patients, we believe that by collaborating with Medtronic, we can gain knowledge to help improve the lives of ESRD patients," said Mahesh Krishnan, vice president for clinical innovation and public policy for DaVita HealthCare Partners. "Through the collaboration we expect to utilize innovative monitoring technology and data from our DaVita Kidney Care information systems across the country. This effort is poised to improve the lives of patients by proactively detecting and preventing cardiac complications."
November 14, 2014
12:43 EDTMDTMedtronic readying $10B bond sale for Covidien deal, WSJ reports
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11:50 EDTMDTMedtronic readying $10B bond sale for Covidien deal, Dow reports
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09:38 EDTGEActive equity options trading
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08:04 EDTGEGE Capital provides $37.5M credit facility to Specialty's Cafe & Bakery
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08:00 EDTGEHalliburton, Baker deal would face 'intense' DOJ scrutiny, says Jefferies
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