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Stock Market & Financial Investment News

News Breaks
May 8, 2014
07:23 EDTALXN, AUXL, BLUE, OVAS, CAH, BAYRY, ANAC, ABT, UHS, CYHDeutsche Bank to hold a conference
39th Annual Healthcare Conference is being held in Boston on May 7-8 with webcasted company presentations to begin on May 8 at 8 am; not all company presentations may be webcasted. Webcast Link
News For OVAS;CYH;ANAC;BLUE;UHS;BAYRY;AUXL;ABT;CAH;ALXN From The Last 14 Days
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August 31, 2015
05:36 EDTABTStocks with implied volatility movement; MNKD ABT
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August 27, 2015
13:42 EDTABTAnalyst says Abbott-St. Jude deal looks unlikely
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12:41 EDTABTOn The Fly: Top stock stories at midday
Stocks began the session sharply higher, extending the rally that started yesterday. A number of factors may be contributors to today's strength, including China's government intervening in its market last night and pushing its key stock index up 5%, dovish comments made by N.Y. Fed President Bill Dudley yesterday regarding the potential for a September interest rate hike and an upward revision in the estimate of second quarter GDP growth. ECONOMIC EVENTS: In the U.S., the updated estimate of GDP growth showed the economy grew 3.7% in the second quarter, topping expectations for annualized growth to be revised up to 3.2% from the prior estimate of 2.3%. Personal consumption in the quarter rose 3.1%, matching expectations. 271,000 initial jobless claims were filed last week, versus expectations for 274,000 first-time claims. The NAR pending home sales index rose 0.5% in July, missing the expectation for an increase of 1%. In China, the Shanghai composite index rose 5.3%, stemming its recent string of down days, with media reports indicating that the government may have played a role by stepping in to buy stocks. COMPANY NEWS: Shares of St. Jude Medical (STJ) advanced 4.5% after the Financial Times reported, citing sources, that Abbott (ABT) is prepping a takeover offer that would value the medical device maker at $25B. An Abbott spokesperson, however, issued statements to Bloomberg, CNBC and the Wall Street Journal following the report to deny that it is pursuing a bid for St. Jude, which struck a deal in July to acquire fellow medical device manufacturer Thoratec (THOR) for $63.50 per share in cash, or $3.4B, net of cash acquired. Thoratec shares slid 0.5% near noon following the report, as investors may be concerned that the previously announced deal could be jeopardized if Abbott does in fact step in to the situation... Shares of Freeport-McMoRan (FCX) surged 28% this morning after the miner and oil explorer announced plans to cut spending and production, including plans to cut about 10% of employees and contractors at its U.S. mining operations. Freeport has lowered its 2016 capital expenditure budget to $4B, or approximately 29% lower than the $5.6B estimate it issued on July 23, which it said reflects "aggressive" actions in response to current market conditions. MAJOR MOVERS: Among the notable gainers was Movado (MOV), which gained 20% after the company reported better than expected second quarter results and backed its fiscal year earnings view. Also higher following its earnings report was Signet Jewelers (SIG), whose shares rose 13%. Another jeweler reporting earnings this morning, Tiffany (TIF), which slid 3% after the company lowered its fiscal year outlook. Among the other noteworthy losers following their earnings reports were Williams-Sonoma (WSM), which dropped 7%, and Dollar General (DG), which slipped 4%. INDEXES: Near midday, the Dow was up 311.33, or 1.91%, to 16,596.84, the Nasdaq was up 109.30, or 2.33%, to 4,806.83, and the S&P 500 was up 42.77, or 2.2%, to 1,983.28.
12:20 EDTABTDeutsche Bank says would have mixed view of Abbott-St. Jude deal
Deutsche Bank analyst Kristen Stewart said she would have a "somewhat mixed" view if Abbott (ABT) were in fact to pursue a deal to buy St. Jude Medical (STJ), as was raised as a possibility by a Financial Times report this morning. Stewart said the addition of St. Jude would "significantly" improve Abbott's Device division, specifically its vascular franchise, but she adds that the $25B bid discussed in the report would be "full value" for St. Jude and wonders if such a deal would be the most efficient use of capital for a diversified company like Abbott. The analyst said her view on each stock is unchanged overall at this point and she keeps her Buy rating on Abbott and Hold rating on St. Jude.
12:07 EDTABTAbbott bid for St. Jude doesn't seem likely, says Wells Fargo
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11:15 EDTANACAnacor management to meet with Jefferies
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09:26 EDTABTOn The Fly: Pre-market Movers
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07:57 EDTABTAbbott spokesman says company not making offer for St. Jude, Bloomberg reports
The spokesperson's statement to Bloomberg follows a report earlier this morning from Financial Times that claimed Abbott (ABT) is prepping a takeover offer for St. Jude Medical (STJ) that would value the latter at $25B.
07:51 EDTABTThoratec volatility low into report Abbott prepping offer for St. Jude Medical
Thoratec (THOR) September call option implied volatility is at 10, October is at 6; compared to its 52-week range of 8 to 54 suggesting decreasing price movement into reports Abbott (ABT) is preparing a bid for St. Jude Medical (STJ). In July St. Jude Medical and Thoratec approved an agreement under which St. Jude Medical will acquire all of the outstanding shares of Thoratec for $63.50 per share in a cash. The deal is scheduled to close in Q4.
07:45 EDTABTAbbott volatility up into report prepping takeover offer for St. Jude Medical
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07:39 EDTABTSt. Jude Medical volatility up, Abbott prepping $25B takeover offer FT reports
St. Jude Medical (STJ) September call option implied volatility is at 29, October is at 27; compared to its 52-week range of 17 to 36; suggesting slightly larger near term price movement into Abbott (ABT) is prepping a takeover offer that would value the company at $25B, sources tell The Financial Times.
06:57 EDTABTAbbott prepping $25B takeover offer for St. Jude Medical, FT reports
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06:56 EDTABTAbbott prepping $25B takeover offer for St. Jude Medical, FT reports
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August 26, 2015
10:46 EDTOVASOvaScience reports publication of AUGMENT analysis vs. IVF standard
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August 25, 2015
10:21 EDTCAHCardinal Health to acquire majority stake in naviHealth
Cardinal Health announced that it is acquiring a majority stake in naviHealth and expects the transaction to close later this week. Privately-held naviHealth partners with health plans, health systems and providers to manage the post-acute segment of the care continuum. naviHealth's principal investor, Welsh, Carson, Anderson & Stowe, along with management, will continue to have an ownership interest in the business. Cardinal Health said it is acquiring 71% of naviHealth for approximately $290M, with a goal of acquiring the entire business within four years, in accordance with a series of call/put rights during that period of time. Cardinal expects this acquisition to be neutral to its FY16 non-GAAP diluted earnings per share from continuing operations as it is a partial period, and slightly accretive to non-GAAP diluted earnings per share from continuing operations beginning in FY17, the first full year post close. "From a GAAP perspective, it is too early in the process to provide any specific guidance on the amortization of intangible assets. Once the fair value estimates are complete, we will provide additional details. Recall that our FY16 assumptions provided on our earnings call on July 30, 2015 only included those acquisitions that had been completed through June 30," the company stated in an FAQ document related to the deal.
10:14 EDTBAYRYForward signs supplier agreement extension with Bayer Healthcare
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09:26 EDTCAH, CYHRBC Capital to hold a bus tour
Healthcare Bus Tour travels throughout Nashville, TN to visit with various healthcare companies on August 25-26.
August 21, 2015
08:10 EDTANACAnacor: Coalition seeks to invalidate patents for Kerydin
In a regulatory filing, Anacor said that on August 20, a hedge fund -- acting with affiliated parties and proceeding under the name of the Coalition for Affordable Drugs X LLC -- filed petitions with the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office seeking to institute inter partes review proceedings to invalidate Anacor Pharmaceuticals, Inc.'s Orange Book-listed U.S. Patents Nos. 7,582,621 and 7,767,657 covering KERYDIN topical solution, 5%.If one or more of CFAD's IPR petitions are accepted by the PTAB, the Company will have three months to file its preliminary responses. Upon receipt of the Company's preliminary responses, the PTAB will have another three months in which to institute or deny the IPR proceedings. If the IPR proceedings are instituted by the PTAB, CFAD will have an opportunity to challenge the validity of some or all of the claims in the Kerydin Orange Book Patents before the PTAB. The Company is currently reviewing CFAD's IPR petitions and intends to vigorously oppose the institution of the IPR proceedings and, if the IPR proceedings are instituted, to vigorously defend the Kerydin Orange Book Patents.
August 20, 2015
08:34 EDTBLUEJPMorgan views bluebird bio selloff as 'highly compelling opportunity'
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August 19, 2015
12:10 EDTUHSUniversal Health acquires Alpha Hospitals Holdings Limited
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