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Stock Market & Financial Investment News

News Breaks
March 10, 2014
06:38 EDTGS, ACT, MS, FRXMorgan Stanley, Goldman said to switch fees for deal credit, Bloomberg says
Morgan Stanley (MS) and Goldman Sachs (GS) both decided last month that it was worth losing millions of dollars in fees to get credit on the $25B sale of Forest Laboratories (FRX) to Actavis (ACT), according to Bloomberg, citing four people with knowledge of the matter. The sources say that neither investment bank actually had a role on the deal. Reference Link
News For MS;GS;FRX;ACT From The Last 14 Days
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February 25, 2015
08:28 EDTMSMorgan Stanley reportedly near deal for Montreal cargo facility, Bloomberg says
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08:19 EDTACTActavis price target raised to $350 from $315 at Bernstein
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07:59 EDTACTActavis 13.2M share Secondary priced at $288.00
The deal size was lowered to $3.8B from $4.2B and but the convertible preferred was up-sized to $4.6B from $4.2B. JPMorgan, Mizuho, Wells Fargo and Morgan Stanley acted as joint book running managers for the offering.
06:36 EDTGSGoldman Sachs looking to launch energy debt investment fund, NY Times reports
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February 24, 2015
16:27 EDTACTActavis confirms generic Uceris patent challenge
Actavis (ACT) confirmed that it has filed an Abbreviated New Drug Application with the FDA seeking approval to market Budesonide Extended-release Tablets, 9 mg. Actavis' ANDA product is a generic version of Salix Pharmaceuticals' (SLXP) Uceris, which is a glucocorticosteroid indicated for the induction of remission in patients with active, mild to moderate ulcerative colitis.
07:21 EDTGS, MSSecurities Industry & Financial Markets Association to hold a conference
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06:15 EDTGSBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
February 23, 2015
13:33 EDTMSRBS could name Howard Davies as chairman this week, FT reports
Royal Bank of Scotland (RBS) could name Howard Davies as its chairman as early as Thursday, when the bank reports its full-year results, the Financial Times reports. Davies is currently chairman of insurance business Phoenix Group and chairs Morgan Stanley's (MS) risk committee. Current RBS Chairman Philip Hampton is set to become GlaxoSmithKline's (GSK) chairman as early as this summer. Reference Link
12:53 EDTACTAnalysts debate potential for competing Salix takeover bid
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06:52 EDTGSGoldman Sachs sees $3B in possible legal costs above reserves
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February 20, 2015
08:46 EDTACTActavis receives final approval for generic version of Subutex
Actavis announced that it has received final approval from the U.S. Food and Drug Administration on its Abbreviated New Drug Application for a generic version of Reckitt Benckiser's Subutex. Actavis intends to begin shipping its product shortly. Subutex is indicated for the treatment of opioid dependence. For the 12 months ending December 31, 2014, Subutex had total U.S. sales of approximately $108M, according to IMS Health data.
08:07 EDTACTActavis price target raised to $340 from $310 at Argus
Argus increased its price target on Actavis as the firm believes that the company is generating strong growth. Argus is upbeat on the company's acquisition of Allergan and keeps a Buy rating on the shares.
February 19, 2015
09:33 EDTACTActavis should be bought on weakness, says Sterne Agee
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07:44 EDTACTActavis to sell 4.2B ordinary shares and $4.2B convertible preferred shares
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07:40 EDTACTActavis price target raised to $352 from $300 at Canaccord
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07:39 EDTACTActavis price target raised to $328 from $310 at Leerink
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07:28 EDTACTActavis files automatic mixed securities shelf
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07:12 EDTGSWharton Health Care Club to hold a conference
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06:47 EDTGS, MSReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:28 EDTMSAuthorities investigating possible hack in Morgan Stanley leak, WSJ says
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