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Stock Market & Financial Investment News

News Breaks
July 18, 2014
12:51 EDTMYL, AGN, MDT, VRX, ABT, COVKey GOP senator signals readiness for inversion deal, The Hill says
A key Republican Senator, Orrin Hatch, indicated that he was open to a compromise to rein in tax inversion deals, according to The Hill. “There may be steps Congress can take, short of comprehensive tax reform, to address corporate inversions, and related issues,” Hatch, the top Republican on the Senate Finance Committee wrote in a letter to Treasury Secretary Jack Lew, the website stated. Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott’s (ABT), Medtronic's acquisition of Covidien (COV)and Valeant's (VRX) proposed takeover of Alletgan (AGN). Tax inversions refer to an acquisition of one company, usually officially based in a country in Europe, by a U.S. company, following which the acquiring company becomes domiciled in the same country as the company that it bought. The switch has the potential to significantly lower the acquiring company's tax rate. Reference Link Key
News For MYL;ABT;MDT;COV;VRX;AGN From The Last 14 Days
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November 13, 2014
14:50 EDTMDTLonestar Capital to shut down by mid-2015, WSJ reports
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14:45 EDTMDTLonestar capital to shut down, DJ reports
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13:27 EDTCOV, MDTMedtronic likely to continue to make new highs, Barron's says
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09:33 EDTVRXZoetis could get bought by Bayer for $53/share, says Jefferies
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07:38 EDTMYLBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
07:23 EDTAGN, VRXValeant wooing doctors ahead of hoped for Allergan acquisition, WSJ says
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November 12, 2014
16:53 EDTAGNAllergan receives FDA approval for new styles of NATRELLE 410
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10:09 EDTVRX, AGNActavis in talks to buy Allergan for over $200 per share, Bloomberg says
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10:01 EDTAGNActavis in talks to buy Allergan for $60B, more than $200/share Bloomberg says
Actavis (ACT) is said to seek to pay about $200 per share, but Allergan (AGN) seeks about $210 per share, according to Bloomberg.
07:23 EDTMDTMedtronic volatility elevated into Q2 and outlook
Medtronic November call option implied volatility is at 23, December is at 20, 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.
07:01 EDTAGNAllergan announces approval of amendments to company bylaws
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06:22 EDTAGN, VRXZoetis price target raised to $49 from $44 at Citigroup
Citigroup raised its price target for Zoetis (ZTS) shares to $49 after activist Pershing Square confirmed the accumulation of a 10% stake in the company. Citi thinks Pershing is interested in advocating for a sale of Zoetis, potentially to Valeant (VRX) if its bid for Allergan (AGN) fails. Citi believes others, including Bayer (BAYRY), could be interested in acquiring Zoetis. It keeps a Buy rating on the stock.
November 11, 2014
16:24 EDTVRXOn The Fly: Closing Wrap
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15:46 EDTVRX, AGNPershing Square, Sachem Head build 10% stake in Zoetis, WSJ reports
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08:32 EDTVRX, AGNValeant likely to raise offer for Allergan again, says Bernstein
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07:24 EDTMDT, COVMedtronic submits commitments to EU related to Covidien merger
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November 10, 2014
15:54 EDTCOVAmerican Society of Nephrology to hold a conference
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09:10 EDTMDTMedtronic announces Japanese approval, launch of Evera MRI SureScan ICD
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08:36 EDTCOVBSD Medical names Clint Carnell as president and CEO
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November 9, 2014
13:26 EDTVRX, AGNAckman's Allergan court win may prove costly down the road, Bloomberg says
When U.S. District Court Judge David Carter ruled on November 4 that Pershing Square can vote its 9.7% stake in Allergan (AGN) in a shareholder ballot aiming to remove Allergan directors, he also noted that there were “serious questions” regarding insider trading rules in the way Pershing Square acquired Allergan stock while preparing a bid with Valeant (VRX), says Bloomberg. Reference Link
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