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Stock Market & Financial Investment News

News Breaks
August 25, 2014
10:03 EDTMDTMedtronic announces FDA approval of Viva CRT-P for heart failure or AV block
Medtronic announced the Food and Drug Administration approval of its newest cardiac resynchronization therapy-pacemaker, Viva CRT-P, for indicated patients with heart failure or atrioventricular, or AV, block.
News For MDT From The Last 14 Days
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October 30, 2014
12:35 EDTMDTMedtronic CEO sees Covidien merger closing in early 2015
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07:34 EDTMDTEnteroMedics names Brad Hancock Chief Commercial Officer
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October 28, 2014
09:09 EDTMDTMedtronic initiates PERIGON pivotal trial
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07:19 EDTMDTMB Venture Partners to hold a conference
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October 22, 2014
07:21 EDTMDTU.S. DHS investigates medical gear for potential cyber defects, Reuters says
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October 21, 2014
09:52 EDTMDTCovidien rises after Medtronic maintains merger date language
Shares of Covidien (COV) are rising in early trading after Medtronic (MDT), in its latest regulatory filing answering questions for shareholders regarding its proposed takeover of the Irish drugmaker, left its language regarding the expected closing date unchanged. WHAT'S NEW: In its most recent filing, Medtronic again stated, "As of the date of this joint proxy statement/prospectus, the transaction is expected to be completed late in the fourth calendar quarter of 2014 or early 2015. However, no assurance can be provided as to when or if the transaction will be completed. The required vote of Medtronic and Covidien shareholders to adopt the required shareholder proposals at their respective special meetings, as well as the necessary regulatory consents and approvals, must first be obtained and other conditions specified in the conditions appendix must be satisfied or, to the extent applicable, waived." ANALYST REACTION: Research firm BTIG says Medtronic's amended regulatory filing on the Covidien transaction increases the firm's confidence of the deal closing by early 2015. The firm adds it would be "stunned" to see Medtronic walk away from the merger after the company again showed commitment to the acquisition. WHAT'S NOTABLE: AbbVie (ABBV) last night confirmed that the company and Shire (SHPG), another Irish domiciled drugmaker, agreed to terminate their proposed merger. AbbVie said its decision was based upon its assessment of the September 22 notice issued by the U.S. Department of Treasury, which re-interpreted longstanding tax principles in a "uniquely selective manner designed specifically to destroy the financial benefits of these types of transactions." AbbVie continued that the Treasury notice "introduced an unacceptable level of risk and uncertainty given the magnitude of the proposed changes" and the stated intention of the department to continue to revise tax principles to further impact such "tax inversion" transactions. AbbVie noted that it has agreed to pay Shire a break fee of approximately $1.64B due to the deal falling through. PRICE ACTION: In early trading, shares of Covidien trading in New York rose 4% to $88.86, Medtronic advanced 1% to $64.57, Shires gained 0.7% to $185.82 and AbbVie added 1.4% to $55.16.
09:43 EDTMDTAmended filing increases confidence in Covidien deal at BTIG
BTIG says Medtronic's (MDT) amended regulatory filing on the Covidien (COV) transaction increases its confidence of the deal closing by early 2015. The firm adds it would be "stunned" to see Medtronic walk away from the merger after the company again showed commitment to the acquisition. Shares of Covidien are up 3% to $88.11 in early trading.
09:11 EDTMDTMedtronic keeps language unchanged on merger closing date
Medtronic in its latest regulatory filing answering questions for shareholders regarding its proposed takeover of Covidien (COV) left the language unchanged around the expected closing date. The company again stated, "As of the date of this joint proxy statement/prospectus, the transaction is expected to be completed late in the fourth calendar quarter of 2014 or early 2015. However, no assurance can be provided as to when or if the transaction will be completed. The required vote of Medtronic and Covidien shareholders to adopt the required shareholder proposals at their respective special meetings, as well as the necessary regulatory consents and approvals, must first be obtained and other conditions specified in the conditions appendix must be satisfied or, to the extent applicable, waived."
October 20, 2014
07:20 EDTMDTInternational Continence Society to hold annual meeting
ICS Annual Meeting 2014 is being held in Rio de Janeiro, Brazil on October 20-24.
07:12 EDTMDTCongress of Neurological Surgeons to hold annual meeting
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