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Stock Market & Financial Investment News

News Breaks
February 11, 2014
05:37 EDTSNY, LRLCY, NSRGYNestle, L'Oréal boards unanimously approve sale of 48.5M shares
Nestlé (NSRGY) and L'Oréal (LRLCY) announced that their respective boards, in meetings held on February 10, have approved by unanimous decision of their voting members a strategic transaction for both companies under which L'Oréal will buy 48.5M of its own shares from Nestlé. This buyback will be financed: Partially through the disposal by L'Oréal to Nestlé of its 50% stake in Swiss dermatology pharmaceuticals company Galderma, a 50/50 joint venture between L'Oréal and Nestlé, for an enterprise value of EUR 3.1B, EUR 2.6B of equity value, paid by Nestlé in 21.2M L'Oréal shares. For the remainder, corresponding to 27.3M L'Oréal shares held by Nestlé, in cash for an amount of EUR 3.4B. All the shares bought back by L'Oréal will be cancelled. Following the transaction, Nestlé's stake in L'Oréal will be reduced from 29.4% to 23.29% of the share capital and the Bettencourt Meyers family's stake in L'Oréal will increase from 30.6% to 33.31%. In order to reflect the change of Nestlé's stake in L'Oréal's governance, the number of Nestlé representatives on L'Oréal's board will be adjusted from 3 to 2 Directors, and the ownership ceiling provisions of the shareholders' agreement between Nestlé and the Bettencourt Meyers family will apply to their respective new holdings. The transaction will be accretive by more than 5% on L'Oréal's recurring earnings per share on a full year basis. The buyback will be exclusively financed with L'Oréal's available cash and through the issuance of commercial paper. It will not require the disposal of Sanofi (SNY) shares held by L'Oréal. The transaction is expected to close before the end of the first semester of 2014.
News For NSRGY;LRLCY;SNY From The Last 14 Days
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April 16, 2014
09:15 EDTSNYImpax launches generic Renvela for kidney disease licensed from Sanofi
Impax Laboratories (IPXL) is commencing shipment of authorized generic Renvela 800 mg tablets, through Global Pharmaceuticals, Impax's generics division. Renvela is indicated for the control of serum phosphorus in patients with chronic kidney disease on dialysis. Under the terms of a settlement agreement, Sanofi (SNY) company Genzyme agreed to grant Impax a license to sell an allotment of a specified number of bottles of an authorized generic version of Renvela tablets commencing on April 16. Impax continues to pursue approval of its pending Abbreviated New Drug Application for generic Renvela with the FDA.
April 15, 2014
06:32 EDTSNYPatients paying much more for specialty drugs, NY Times says
The amount that patients with certain diseases must pay for specialty drugs has increased significantly, a research firm reported, according to The New York Times. Meanwhile, consumers' use of health care increased in 2013 for the firm time in three years, the newspaper quoted the firm, the IMS Institute for Healthcare Informatics, as saying. Publicly traded drug makers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Publicly traded health insurers include AMERIGROUP (AGP), Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH), WellCare (WCG) and WellPoint (WLP).Reference Link
05:10 EDTNSRGYNestle confirms FY14 organic growth guidance around 5%
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05:08 EDTNSRGYNestle reports Q1 revenue CHF 20.8B vs. CHF 21.94B last year
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April 14, 2014
12:04 EDTLRLCYL'Oreal says Q1 results confirm confidence in full-year goals
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12:03 EDTLRLCYL'Oreal reports Q1 sales EUR5.64B vs. EUR5.77B a year ago
The company said, “L’Oréal has made an encouraging start to the year. The divisions have posted contrasted performances: L’Oréal Luxe and the Active Cosmetics Division are maintaining their very good momentum. The Professional Products Division is confirming its recovery and has returned to growth in Western Europe and the United States. The Consumer Products Division is, as we had forecast and announced, being held back by North America, because of a high comparison base in the first quarter of 2013, linked to two major launches, and a sluggish trend in the mass-market channel over the first few months of the year."
April 11, 2014
13:35 EDTNSRGYNestle chairman requires medical treatment
The Nestlé board of directors was informed yesterday that Peter Brabeck-Letmathe, chairman of the board, has been diagnosed with an illness which is curable but requires periodic medical treatment over the next six months. The company said that this does not affect Brabeck-Letmathe’s ability to carry out his role as chairman of the Nestlé board of directors and he will continue to fully exercise his duties during the treatment period. Reference Link
07:06 EDTSNYVIVUS announces avanafil clinical data presentation
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April 10, 2014
12:04 EDTNSRGYNestle says slowdown could spark sales of underperforming units, WSJ says
Nestle plans to continue to to sell underperforming divisions as part of its on-going product-and-brand review, according to The Wall Street Journal, citing comments from CEO Paul Bulcke. CEO Bulcke said, "We are looking at our product and brand portfolio and analyzing it through a sharper, stricter lens. We are making choices about where we want to invest, where we want to improve and areas we want to divest." Reference Link
06:04 EDTLRLCYYahoo hires Bobbi Brown to be editor-in-chief of beauty site, Re/code reports
Yahoo (YHOO) has hired Bobbi Brown, the creator of Bobbi Brown Cosmetics (EL), to be the editor-in-chief of its beauty site, Re/code reports, noting that several of Yahoo's big advertisers -- L'Oreal (LRLCY), Procter & Gamble (PG) and Unilever (UN, UL) -- are competitive with Bobbi Brown Cosmetics. Reference Link
April 9, 2014
13:35 EDTNSRGYHershey melts after Goldman downgrade
Shares of chocolate maker Hershey (HSY) are falling after Goldman Sachs lowered its rating on the stock to a Sell. WHAT'S NEW: After the market closed last night, Goldman Sachs downgraded Hershey to Sell from Neutral, saying the stock is "priced for perfection" and that the company's cycle of strong earnings growth will end. Goldman lowered its price target for the stock to $90 from $105. Goldman Sachs analysts Jason English, Sean King and Manpreet Sethl were cautious on Hershey, saying that they expect the company's domestic momentum to fade. Goldman lowered its earnings per share estimates for Hershey's fiscal years 2014 through 2016 by 3%-6% to reflect lower sales and margin projections. While they said that they still perceive Hershey as a "best-in-breed company" whose international momentum will continue, the analysts believe expectations for the company are on the verge of turning more negative. OTHERS TO WATCH: Other companies in the chocolate industry include Nestle (NSRGY) and Mondelez (MDLZ), which owns Cadbury. PRICE ACTION: During afternoon trading, shares of Hershey fell $2.57 or $2.53%, to $99.15.
07:29 EDTNSRGYKellogg speculated as Berkshire target amid volatile trading, Bloomberg says
Kellogg (K) shares have surged over last week amid speculation the company may be a takeover target for Warren Buffett’s Berkshire Hathaway (BRK.A), said Bloomberg's "Real M&A" column, which noted that Kellogg fits the financial criteria for the types of acquisitions Buffet has made in the past. Kellogg could also appeal to another food company, like PepsiCo (PEP) or Nestle (NSRGY), the report added. Reference Link
07:09 EDTSNYReckitt Benckiser may be frontrunner for Merck unit, Bloomberg reports
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April 8, 2014
11:03 EDTSNYPiper Jaffray's biopharm analyst holds an analyst/industry conference call
Biopharm Analyst Schimmer discusses PCSK9 Inhibitors and other atherosclerosis approaches on an Analyst/Industry conference call. Relevant companies AEGR, ALNY, AMGN, ARNA, AZN, BMY, CBST, LLY, ESPR, GSK, ICPT, ISIS, MNKD, MRK, OREX, PFE, REGN, RHHBY, SNY and VVUS may be included on the Analyst/Industry conference call to be held on April 10 at 3 pm.
April 7, 2014
07:23 EDTNSRGYNestle's chairman Brabeck to step down in FY17, Reuters says
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05:28 EDTSNYGenzyme to resubmit Lemtrada application for FDA review
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April 4, 2014
07:47 EDTNSRGYBidders for Danone unit narrowed to Nestle, Fresenius, Reuters says
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April 3, 2014
06:36 EDTSNYSanofi on lookout for acquisitions, expects growth in Africa, Reuters says
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