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Stock Market & Financial Investment News

News Breaks
March 20, 2014
07:15 EDTODP, TYC, MSFormer Morgan broker-dealer linked to alleged insider trading, WSJ says
U.S. prosecutors say three men, including former Morgan Stanley broker-dealer Vladimir Eydelman, used information mined from a New York mergers-and-acquisitions law firm to run an insider trading ring, reported The Wall Street Journal. The three used inside information to trade in shares of Tyco (TYC) and Office Depot (ODP) prior to deals, the story noted. Reference Link
News For MS;TYC;ODP From The Last 14 Days
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May 28, 2015
06:57 EDTMSMorgan Stanley picked by GE as adviser for Japan leasing sale, Bloomberg reports
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May 27, 2015
19:05 EDTODPOffice Depot to pay $3.4M over faulty office chairs
The U.S. Consumer Product Safety Commission announced that Office Depot has agreed to pay a $3.4M civil penalty to settle CPSC's charges that Office Depot knowingly failed to report defects and an unreasonable risk of serious injury concerning two models of office chairs -- the Quantum and the Gibson. The seatbacks of both models failed, resulting in multiple back and other injuries. Federal law requires parties like Office Depot to report to CPSC within 24 hours about a consumer product containing a defect that could create a substantial product hazard or presenting a risk of serious injury. "Office Depot received dozens of reports of seatback failures and related injuries involving both the Quantum chairs and the Gibson chairs. Office Depot never reported the Quantum chair hazard to CPSC, and reported the Gibson chair hazard only after receiving a request from staff. By the time the chairs were recalled, Office Depot had received 33 and 153 reports, respectively, of seatback detachment from the chairs, and 14 and 25 reports, respectively, of injuries, some requiring medical attention," said the CPSC. In addition the civil penalty, Office Depot has agreed that the company has, and shall maintain, a compliance program to ensure compliance with the Consumer Product Safety Act and a related system of internal controls and procedures. Office Depot neither admits nor denies CPSC staff’s charges. The penalty agreement has been accepted provisionally by the Commission. Reference Link
06:57 EDTMSAbbVie enters into ASR with Morgan Stanley to repurchase $5B of stock
AbbVie (ABBV) said in a regulatory filing that on May 26, it entered into an accelerated share repurchase agreement with Morgan Stanley (MS) to repurchase $5B of AbbVie’s common stock. Morgan Stanley is expected to make an initial delivery of approximately 68 million shares of AbbVie’s common stock on May 27, which represents 90% of the prepayment amount divided by the closing price of AbbVie’s common stock on May 26. At settlement of the agreement, Morgan Stanley may be required to deliver additional shares of AbbVie’s common stock to AbbVie or, under certain circumstances, AbbVie may be required to deliver shares of its common stock or may elect to make a cash payment to Morgan Stanley. The total number of shares of AbbVie’s common stock to be repurchased under the agreement will be based on the daily volume-weighted average price of AbbVie’s common stock during the term of the transaction, less a discount and subject to adjustment pursuant to the terms of the agreement. The final settlement of the transactions under the agreement is expected to occur before the end of 4Q15 and may be accelerated at the option of Morgan Stanley.This agreement was entered into pursuant to AbbVie’s previously disclosed share repurchase authorization and in connection with AbbVie’s previously announced acquisition of Pharmacyclics, which was completed on May 26.
May 26, 2015
20:50 EDTTYCBernstein to hold a conference
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May 20, 2015
08:21 EDTMSATM data theft soars to highest rate in two decades, WSJ says
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07:14 EDTTYCElectric Products Group to hold a conference
EPG 2015 is being held in Longboat Key, Florida on May 18-20 with webcasted company presentations to begin on May 20 at 7:30 am; not all company presentations may be webcasted. Webcast Link
06:10 EDTMSMorgan Stanley implied volatility of 16 at lower end of index mean range
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06:04 EDTODPStaples sees Q2 non-GAAP EPS 11c-13c, consensus 11c
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May 18, 2015
09:46 EDTMSMPLX enters common unit sales agreement for up to $500M
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May 14, 2015
06:04 EDTMSUnivision IPO could launch 'in weeks,' NY Post reports
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