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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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July 7, 2015
15:17 EDTGENTT DoCoMo, GE partner on Japan infrastructure management, Nikkei says
Cellphone carrier NTT Docomo (DCM) and General Electric (GE) are teaming up to offer remote-monitoring services for bridges and other structures in Japan, says Nikkei. Reference Link
10:30 EDTAETOptions with decreasing implied volatility
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10:10 EDTAETOptions with decreasing implied volatility
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08:53 EDTAETHumana downgraded to Hold from Buy at Argus
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08:33 EDTAETAetna, Humana deal risks being overblown, says Leerink
Leerink analyst Ana Gupte believes yesterday's trading around Aetna's (AET) purchase of Humana (HUM) creates "strong" buying opportunities in both names. Gupte believes potential risks of the deal are being overblown. The analyst does not expect a competing Humana bid from UnitedHealth (UNH), and she believes the deal to close despite antitrust scrutiny. Gupte reiterates Outperform ratings on both Aetna and Humana.
July 6, 2015
17:02 EDTGEGeneral Electric sees $4.3B after-tax charges in Q2 on business disposals
On April 10, General Electric announced its plan to reduce the size of its financial services businesses through the sale of most of the assets of its wholly owned subsidiary, General Electric Capital Corporation, over the next 24 months, and to focus on continued investment and growth in GE's industrial businesses. As part of that announcement, GE estimated that it expected to incur approximately $23B of after-tax charges related to the GE Capital Exit Plan through 2016. In the first quarter of 2015, GE recognized $16.1B of after-tax charges related to the GE Capital Exit Plan. GE classified additional businesses within GECC's Commercial Lending and Leasing business as held for sale on June 29. This classification reflects an acceleration of the expected timing of business disposals versus the April 10 GE Capital Exit Plan, which contemplated a more extended timeline. In connection with that classification, and as anticipated by the GE Capital Exit Plan, GE expects to recognize approximately $4.3B of after-tax charges related to the loss on disposal for those businesses, which will be reported in discontinued operations for the second quarter. None of these charges are expected to result in future net cash expenditures, and the charges were included within the framework of GE's initial GE Capital Exit Plan announcement on April 10.
16:20 EDTAETOn The Fly: Top stock stories for Monday
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12:16 EDTAETOn The Fly: Top stock stories at midday
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11:16 EDTAETAetna-Humana tie-up may present longer term opportunity for CVS, says JPMorgan
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11:05 EDTGESiemens may be interested in Alstom assets, Reuters reports
Siemens (SIEGY) could still be interesting in buying power-generation assets from Alstom (ALSMY) on the same terms it offered a year ago, reports Reuters. According to a senior management source, Siemens will offer the deal if GE's (GE) deal falls through. The personal added that Siemens sees the pace of change slowing down after a flurry of acquisitions, disposals and job cuts. Reference Link
10:20 EDTAETOptions with decreasing implied volatility: APOL HUM AET
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10:19 EDTAETHumana CEO says won't comment on speculation regarding Anthem-Cigna deal
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10:16 EDTAETAetna CEO sees divestitures for Humana deal as 'very manageable'
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10:01 EDTAETOn The Fly: Analyst Downgrade Summary
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09:49 EDTAETAetna falls on Humana acquisition, levels to watch
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09:15 EDTAETOn The Fly: Pre-market Movers
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08:30 EDTAETPrice of Aetna deal may displease investors, says Sterne Agee CRT
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08:23 EDTAETBofA/Merrill healthcare facilities analyst has analyst/industry conference call
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08:01 EDTAETAnthem, Cigna deal now much more probable, says Leerink
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07:57 EDTAETHumana sees Q2 EPS $1.60-$1.65, consensus $2.37
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07:56 EDTAETHumana cuts FY15 adjusted EPS $7.75 from $8.50-$9.00, consensus $8.65
The timing of the company’s assessment of higher-than-expected medical costs for 2015 allowed the company to reflect the impact of those costs in its 2016 Medicare Advantage bids, and the company continues to target a 2016 Medicare pre-tax margin of 4.5%-5%.
07:50 EDTAETAnthem Cigna under increased pressure to make deal, says Wedbush
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07:48 EDTAETAetna price target to $152 from $125 at Barclays
Barclays said the Aetna (AET) and Humana (HUM) transaction creates a very strong enterprise that is better positioned than the individual parts, creating increased value. The firm said the deal accelerates Aetna's long-term growth and raised its price target to 152 from $125 on shares and reiterated its Overweight rating.
07:45 EDTAETTeladoc has positive read through from Aetna deal, says RBC Capital
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06:49 EDTAETAetna volatility elevated into acquisition of Humana for $37B
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06:31 EDTAETAetna downgraded to Market Perform from Outperform at FBR Capital
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06:21 EDTAETAetna and Humana to host conference call
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05:43 EDTAETAetna price target raised to $152 from $125 at Barclays
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July 5, 2015
18:12 EDTGEHome builders show mixed thoughts on Electrolux-GE deal, WSJ says
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17:13 EDTAETAetna CEO calls regulatory concerns in Humana deal 'very manageable,' WSJ says
Aetna's (AET) planned acquisition of Humana (HUM) includes a $1B breakup free should the deal fail on an antitrust basis, the Wall Street Journal reported Friday, citing a person familiar with the matter. In an interview with the publication, Aetna CEO Mark Bertolini remarked that while regulatory scrutiny is "never totally predictable, we believe it’s very manageable." Reference Link
15:23 EDTAETHumana speculated that Cigna bid was simply an Anthem play, WSJ says
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July 3, 2015
06:51 EDTAETAetna sees $1.25B in annual synergies in 2018 from deal
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06:49 EDTAETAetna says ability to repurchase shares limited before deal closing
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06:47 EDTAETAetna to acquire Humana for $37B or $230 per share
Aetna (AET) and Humana (HUM) announced that they have entered into a definitive agreement under which Aetna will acquire all outstanding shares of Humana for a combination of cash and stock valued at $37B or approximately $230 per Humana share based on the closing price of Aetna common shares on July 2. Humana closed yesterday down $5.57 to $187.57. Under the terms of the agreement, which has been approved by the board of directors of each company, Humana stockholders will receive $125.00 in cash and 0.8375 Aetna common shares for each Humana share. As a result of the transaction, Aetna’s shareholders would own approximately 74% f the combined company and Humana’s shareholders would own approximately 26%. Aetna expects to finance the cash portion of the transaction with a combination of cash on hand and by issuing approximately $16B of new term loans, debt and commercial paper. Upon closing, which is expected to be in the second half of 2016, the company’s debt-capital ratio is projected to be approximately 46%, and management has committed to reducing that ratio below 40% over the 24 months following the closing. The transaction is projected to be neutral to Aetna’s 2016 operating earnings and produce mid-single digit percentage operating earnings accretion in 2017 and low double-digit percentage accretion in 2018. The combined company would have projected 2015 operating revenue of approximately $115B. Following the close of the transaction, Mark Bertolini will serve as Chairman and CEO of the combined company. At the time of the closing, the Aetna board will be comprised of twelve current Aetna directors and four Humana directors, for a total of sixteen directors.
July 2, 2015
12:05 EDTMDTMedtronic reports 12-month results of VeClose pivotal study
Medtronic announced the twelve- month results of the VeClose pivotal study, which demonstrated the safety and effectiveness of the VenaSeal closure system for the treatment of incompetent greater saphenous veins with a 96.8% closure rate. The results were presented by National Principal Investigator, Nick Morrison, M.D., Morrison Vein Institute, Scottsdale, Ariz., at the European Venous Forum 2015 in St. Petersburg, Russia. The VenaSeal closure system is a unique, minimally invasive, non-tumescent, non- thermal and non-sclerosant procedure that uses an advanced medical adhesive to close the diseased vein in patients with symptomatic venous reflux disease. Unlike other treatments, the VenaSeal closure system does not require tumescent anesthesia, allowing patients to return to their normal activities following the procedure. The VenaSeal procedure also eliminates the risk of nerve or other heat-related injury associated with thermal-based procedures, and may reduce the need for compression stockings post-procedure. The 12 month results of the VeClose study demonstrated outcomes for the VenaSeal closure system comparable with the closure rates associated with the ClosureFast catheter and demonstrated non-inferiority of the VenaSeal closure system: At three months, the complete closure of the great saphenous veins achieved in more than 98.9% of patients treated with the VenaSeal closure system compared to 95.4% of patients treated with the ClosureFast catheter, showing non-inferiority of VenaSeal (p<.0001). The closure rate at six months was 98.9% and 94.3% for the VenaSeal closure system and the ClosureFast catheter, respectively. At 12 months, closure rates were identical between the two treatment groups at 96.8%. Additionally, no serious adverse events were reported.
10:15 EDTSYKMarathon Patent unit gets favorable early ruling of infringement of '260 patent
Marathon Patent Group (MARA) announced that on July 1, in the patent infringement action filed by its wholly-owned subsidiary, MedTech Development Deutschland GmbH involving the patent EP 1 104 260 B2 the Munich District Court of Germany expressed in its preliminary opinion that the following defendants, Joline GmbH & Co. KG, Signus Medizintechnik GmbH and PanMedical, infringe the '260 patent. The '260 patent had previously been accused of invalidity by Stryker GmbH & Co. KG (SYK). In a nullity hearing held June 19, the five-judge panel at the Federal Patent Court, after carefully considering all facts and arguments brought by Stryker, deliberated and returned with the unrestricted verdict that "All claims are valid."
08:06 EDTAETTiming of Humana deal may be impacted by new ACA data, WSJ says
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07:57 EDTAETKentucky Medicaid contracts in-line with expectations, says Leerink
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July 1, 2015
15:36 EDTGEEngine makers compete for Chinese contracts after Airbus order, Reuters says
Following China's large Airbus (EADSY) order on Tuesday, certain aircraft engine manufacturers are competing to secure contracts with Chinese airlines, reports Reuters, citing industry sources. Reuters notes that the Airbus A330s ordered by China are available with a choice of engines from General Electric (GE), United Technologies (UTX), and Rolls-royce (RYCEY). Reference Link
15:33 EDTGEElectrolux AB contests DOJ opposition to acquisition of GE Appliances
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15:19 EDTGEElectrolux falls after DoJ files antitrust suit against GE, Electrolux
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14:52 EDTGEGeneral Electric intends to defend proposed deal with Electrolux
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14:37 EDTGEU.S. files antitrust lawsuit against GE, Electrolux over proposed deal
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14:23 EDTGEU.S. files antitrust lawsuit against GE over Electrolux deal, Bloomberg reports
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12:01 EDTGEAntitrust staff said to oppose GE sale of unit to Electrolux, Bloomberg reports
According to a person familiar with the matter, DOJ antitrust lawyers oppose Electrolux AB’s (ELUXY) plan to buy General Electric’s (GE) appliance business, Bloomberg reports. Reference Link
11:57 EDTGEAntitrust staff said to oppose GE sale of unit to Electrolux, Bloomberg reports
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08:05 EDTGEGE selected to reduce emissions, boost efficiency at Beijing Power Plants
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06:15 EDTGEGE to accelerate finance asset sales to top $23B, Bloomberg reports
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June 30, 2015
19:35 EDTGEGeneral Electric unions approve new four-year contracts
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09:07 EDTGEHillenbrand names Eric Teegarden Chief Accounting Officer
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07:16 EDTGEAlstom CEO Kron ‘confident’ that EU approves GE transaction, Reuters reports
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06:32 EDTGEGE announces continuation of regulatory review for sale of Appliances business
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06:32 EDTGEGE agrees to offer terms for European sponsor finance sale to SMBCE
GE announced that Sumitomo Mitsui Banking Corporation Europe, a wholly owned subsidiary of Sumitomo Mitsui Banking Corporation has made an agreed offer to acquire GE’s European Sponsor Finance business for approximately $2.2B. GE Capital will retain its $1B investment in the European Senior Secured Loan Programme and European Loan Programme, both joint ventures between affiliates of GE Capital and affiliates of Ares Capital. When completed, the portfolio, which represents about $2.2B of ENI, will contribute approximately $400M of capital to the overall target of approximately $35B of dividends expected to GE under this plan. The transaction is subject to customary regulatory approval. It is expected to close in the third quarter of 2015. Bank of America Merrill Lynch and Citigroup Global Markets provided financial advice to GE and Clifford Chance provided legal advice. Since the April 10 announcement, GE has signed agreements to sell about $23B, including the European Sponsor Finance deal announced today with ENI of $2.2B. Other sales during the quarter include $1.2B of loans in our UK Home Lending portfolio, plus the previously announced $8.6B global Fleet Services business and the approximately $11B U.S. Sponsor Finance business. In addition, during the quarter, the sale of GE Capital’s Budapest Bank to the Hungarian State closed on June 29 and GE Capital Real Estate closed, in total, approximately $15B of previously announced sales.
06:18 EDTGESumitomo Mitsui close to deal to buy GE's European PE finance unit, WSJ reports
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June 29, 2015
18:13 EDTMDTMedtronic says AHA/ASA recommends stent retriever technology
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08:04 EDTGEBlackstone Mortgage completes acquisition of GE loan portfolio
Blackstone Mortgage (BXMT) announced that it has completed the acquisition of substantially all of the GE (GE) Capital Real Estate mortgage loan portfolio.
06:03 EDTAETAetna implied volatility of 38 at upper end of index
05:21 EDTGEGE to sell majority of fleet businesses to Element Financial for $6.9B
GE announced that it has reached an agreement to sell its U.S., Mexico, Australia and New Zealand fleet businesses to Element Financial for $6.9B. Separately, GE has signed a memorandum of understanding for the potential sale of its European fleet businesses to Arval, a fully owned subsidiary of BNP Paribas. Arval and GE will now consult with their respective works councils. The transactions’ completion will also be subject to customary regulatory and other local corporate or antitrust approvals. Both transactions represent an aggregate of about $8.6B of ending net investment, approximately $6.0B to Element and about $2.6B to Arval. This brings GE Capital’s total announced sales to about $63B to date. GE is on track to execute sales of $100B by the end of 2015. The transactions would, if completed, contribute approximately $1.8B of capital to the overall target of approximately $35B of dividends expected to GE under this plan. The U.S. and Mexico transaction is expected to close in Q3, and the A&NZ transaction in Q4, subject to customary regulatory and other approvals. If approved, the Arval transaction is targeted to close in Q4.
05:19 EDTGEGE to sell majority of fleet businesses to Element Financial for $6.9B
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June 28, 2015
17:37 EDTAETHumana deal could be announced Monday, WSJ says
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16:20 EDTGEGE requests July 2 hearing in EU to defend Alstom bid, Reuters says
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16:15 EDTGEElement Financial nears deal for GE fleet management unit, Reuters says
Element Financial is nearing a deal for a large portion of General Electric's fleet-management unit, Reuters reported Friday, citing three sources familiar with the matter. The agreement could be sealed as soon as late June, said the sources, who added that Element is mostly targeting the North American portion of the fleet business. Reference Link
June 26, 2015
16:32 EDTAETStocks end week lower with Greece still searching for deal
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11:00 EDTAETOptions with increasing implied volatility
Options with increasing implied volatility: SRPT AGO CRC WMB AMZN CMG TRIP ZTS AET MBI
07:59 EDTAETFBR 'lukewarm' on potential Aetna, Humana deal
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07:55 EDTAETAetna price target raised to $150 from $145 at Leerink
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06:12 EDTGEGeneral Electric to invest in Austrailan windfarm
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06:08 EDTAETAetna implied volatility of 40 at upper end of index
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06:01 EDTAETHumana could reach deal to sell itself by next week, NY Times reports
According to a source, Humana (HUM) is pursuing a deal to sell itself and an agreement could be reached by next week, The New York Times reports. Aetna (AET) and Cigna (CI) are said to be in the running to buy Humana. Bloomberg previously reported that a deal could be reached as early as this weekend. Reference Link
June 25, 2015
17:03 EDTAETVeracyte signs national network agreement with Aetna
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16:23 EDTAETOn The Fly: Top stock stories for Thursday
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14:44 EDTAETHumana options active on nearing deal to be acquired by Aetna
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14:27 EDTGECapital One, Apollo, Ares, Ventas bid for GE healthcare lender, Bloomberg says
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13:57 EDTAETHumana spikes on nearing deal to be acquired by Aetna
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13:53 EDTAETHumana nearing deal to be acquired by Aetna, Bloomberg reports
Aetna (AET) is nearing an acquisition of Humana (HUM) and a deal could be reached as early as this weekend, Bloomberg reports, citing people with knowledge of the matter. Aetna's bid includes cash and stock, and talks between the two the companies picked up after Anthem (ANTM) came public with a bid for Cigna (CI), Bloomberg adds. Both Aetna and Cigna bid for Humana, a source told Bloomberg, with Humana's board preferring the offer from Aetna. Shares of Humana are up $14.72 to $198.95 following Bloomberg's report. Reference Link
13:43 EDTAETHumana received offer from Cigna, Aetna, prefers Aetna, Bloomberg says
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13:43 EDTAETAetna nearing deal to acquire Humana, Bloomberg reports
11:06 EDTAETHospitals, insurers climb after Supreme Court rules on ACA subsidies
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11:03 EDTMDTMedtronic announces U.S. launch of Advisa SR MRI SureScan pacing system
Medtronic announced the U.S. FDA approval and commercial launch of the Advisa SR MRI SureScan single-chamber pacemaker with the 5076 MRI lead, which allows for magnetic resonance imaging scans positioned on any region of the body without restrictions. The new system includes the Advisa SR MRI pacemaker and a SureScan lead, which must be used together to be considered MR- conditional.
10:31 EDTGECA Technologies appoints Jeff DeMarrais as Chief Communications Officer
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10:11 EDTAETACA tax subsidies upheld by Supreme Court
The decision of the Fourth Circuit was affirmed in King v. Burwell by a vote of 6 to 3, according to multiple media reports. The Supreme Court upholding the lower court ruling means that individuals who get health insurance through an exchange established by the federal government will be eligible for tax subsidies in all 50 states. Publicly traded companies in the health insurance space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). Publicly traded companies in the hospital space include Community Health (CYH), HCA Holdings (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS).
09:40 EDTAETMultiple parties expressing interest in Humana, CNBC reports
Humana (HUM) has received expressions of interest from multiple companies, CNBC's David Faber reports. The interest does not mean multiples bids are forthcoming, Faber added.
09:23 EDTMDTMedtronic announces resignation of Christopher O'Connell
Medtronic (MDT) announced in a regulatory filing that Christopher J. O’Connell is resigning as the company’s EVP and President, Restorative Therapies Group. The company also announced the appointment of Geoff Martha as the company’s EVP and President, Restorative Therapies Group, effective immediately. The Fly notes that Waters (WAT) this morning named O'Connell as its new president, CEO and member of its Board of Directors, effective in September.
09:15 EDTMDTWaters names Christopher O'Connell as CEO, effective in September
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06:15 EDTGEElectrolux CEO to step down 'on his own initiative,' Reuters reports
Electrolux (ELUXY) CEO Keith McLoughlin will step down from the company "on his own initiative," Reuters reports, citing comments from business daily Dagens Industri. Elextrolux says McLoughlin, who moved to the U.S. from Sweden a few years ago, has not yet resigned, but also noted that "all well-run public companies conduct succession planning." According to Dagens Industri, GE Appliances (GE) head Charles Blankenship would be the "top candidate" to succeed McLoughlin. Reference Link
June 24, 2015
18:16 EDTGEGoogle, GE, Airbus lead in sheer number of meetings with EU officials
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17:57 EDTAETWall Street applauds Senate giving go-ahead for 'fast track' trade powers
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16:47 EDTGEGeneral Electric reaches preliminary labor agreements with union delegates
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10:00 EDTAETOn The Fly: Analyst Initiation Summary
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06:36 EDTAETAetna initiated with a Sector Perform at RBC Capital
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June 23, 2015
17:03 EDTMDTMedtronic implements voluntary recall for certain lots of Covidien Shiley tubes
Medtronic announced that on May 8, it began notifying hospitals and distributors worldwide that affected lots of its Covidien Shiley tracheostomy tubes were formed with a wider-angle bend than standard models manufactured after November 29, 2012. The company initiated the field action following a small number of customer complaints that included reports of 12 serious patient injuries, such as breathing difficulties that impacted oxygen levels immediately upon tube placement or discomfort. Replacement of the tracheostomy tube with product manufactured prior to November 29, 2012 addressed the patient breathing difficulty or discomfort. The notification requested all customers and distributors to quarantine and discontinue use of all potentially affected units and return the affected product to the company as soon as possible for credit. Medtronic also took the necessary steps to prevent future shipments of the recalled products. The company also notified regulatory agencies around the world, as appropriate. Since November 29, 2012, Shiley tracheostomy tubes were shipped into Australia, Belgium, Canada, Chile, Germany, Israel, Italy, Japan, Saudi Arabia, Singapore, South Africa, Turkey, Uruguay and the United States of America.
13:02 EDTGESumitomo, others show interest in GE railway-leasing business, WSJ says
Japan's Sumitomo Mitsui Financial Group is interested in buying General Electric's (GE) railway-leasing business, says the Wall Street Journal, citing sources. Wells Fargo (WFC) and other U.S. financial institutions have also shown interest in GE Capital Rail Services, which may be worth around $4B, added the Wall Street Journal, citing people familiar with the matter. Reference Link
11:20 EDTMDTMedtronic competitive with Edwards after approval, says Wells Fargo
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09:36 EDTGEActive equity options trading on open
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09:22 EDTMDTMedtronic announces FDA approval for new TAVR system
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07:44 EDTAETHumana takeover looks unlikely below $210/share, says Leerink
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07:25 EDTMDTPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
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