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Stock Market & Financial Investment News

News Breaks
April 1, 2013
07:06 EDTPFE, PG, CHDMore vitamin deals expected, WSJ reports
Procter & Gamble (PG), Pfizer (PFE) and Arm & Hammer (CHD) owner Church & Dwight Co. all acquired makers of dietary supplements last year. More deals are expected, as companies bet baby boomers and rising health-care costs will drive demand for products, reports the Wall Street Journal.Reference Link
News For PG;PFE;CHD From The Last 14 Days
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June 23, 2015
06:33 EDTPGOnline market for razors growing quickly, WSJ reports
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June 22, 2015
08:52 EDTPFEPortola, Bristol-Myers, and Pfizer announce results from Phase 3 ANNEXA study
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07:01 EDTPFEPfizer to acquire Nimenrix, Mencevax from GlaxoSmithKline for $130M
Pfizer (PFE) announced that it has entered into an agreement with GlaxoSmithKline (GSK) to acquire its quadrivalent meningitis ACWY vaccines, Nimenrix and Mencevax, for a total consideration of approximately $130M. This transaction will add two high-quality and complementary vaccines to Pfizer’s portfolio, allowing the company to reach a broader global population. Nimenrix is a single dose meningococcal ACWY-TT conjugated vaccine designed to protect against Neisseria meningitidis, an uncommon but highly contagious disease that can lead to disability and death. Mencevax is a single-dose meningococcal ACWY unconjugated polysaccharide vaccine used to control outbreaks of meningococcal infection and for travelers to countries where the disease is endemic or highly epidemic. Pfizer does not expect this transaction to have any significant impact on its 2015 financial performance. The transaction is subject to customary closing conditions as well as regulatory approvals in several markets, and is expected to occur in the second half of 2015. Pfizer’s legal advisors for the transaction were Ropes & Gray and Clifford Chance.
June 18, 2015
09:35 EDTPFEActive equity options trading on open
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June 17, 2015
10:00 EDTPFEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AbbVie (ABBV) initiated with an Overweight at Piper Jaffray... Arista Networks (ANET) initiated with a Buy at Sterne Agee CRT... Astec (ASTE) initiated with a Buy at Maxim... Bristol-Myers (BMY) initiated with an Underweight at Piper Jaffray... Community Healthcare (CHCT) initiated with an Outperform at Oppenheimer... Eli Lilly (LLY) initiated with an Overweight at Piper Jaffray... Fitbit (FIT) initiated with a Buy ahead of IPO at Dougherty... Hortonworks (HDP) initiated with a Buy at Mizuho... II-VI (IIVI) initiated with a Buy at Benchmark Co.... J Sainsbury (JSAIY) initiated with an Underperform at Credit Suisse... McDermott (MDR) initiated with an Outperform at Cowen... Merck (MRK) initiated with a Neutral at Piper Jaffray... Molina Healthcare (MOH) initiated with a Buy at UBS... Pacific DataVision (PDVW) initiated with a Buy at Canaccord... Pfizer (PFE) initiated with an Overweight at Piper Jaffray... Quest Resource (QRHC) initiated with a Buy at Roth Capital... Regional Management (RM) initiated with a Buy at Janney Capital... Rofin-Sinar (RSTI) initiated with a Buy at Benchmark Co.... Salesforce (CRM) initiated with a Neutral at Exane BNP Paribas... Sprouts Farmers Markets (SFM) initiated with a Neutral at Cleveland Research... Tesco (TSCDY) initiated with an Underperform at Credit Suisse... WM Morrison (MRWSY) initiated with a Neutral at Credit Suisse... WWE (WWE) initiated with a Buy at BTIG... World Acceptance (WRLD) initiated with a Buy at Janney Capital... Zafgen (ZFGN) initiated with a Buy at SunTrust.
07:25 EDTPFEPiper calls Bristol 'modestly overvalued,' starts shares with sell
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06:39 EDTPGCoty downgraded to Neutral from Buy at Citi
Citi downgraded Coty (COTY) to Neutral after shares rallied on a New York Post report saying the company is in talks to acquire Procter & Gamble's (PG) beauty business for $12B. Citi sees potential challenges with the deal and notes the stock is up 65% since its upgrade in January. The firm raised its price target for shares to $32 from $29.
05:31 EDTPFEPfizer initiated with an Overweight at Piper Jaffray
Target $45.
June 16, 2015
16:24 EDTPGOn The Fly: Top stock stories for Tuesday
Stocks began the day slightly lower but began to move higher shortly after the open. The market began to drift higher before the noon hour as European markets closed in positive territory. Investors are now looking toward and positioning ahead of the week's big event, namely tomorrow's scheduled policy announcement from the Federal Reserve and the associated press conference by Chairwoman Janet Yellen. ECONOMIC EVENTS: In the U.S., housing starts were down 11.1% to a 1.036M rate in May, versus expectations for a decline of 4%. Building permits were up 11.8% to a 1.275M rate, versus expectations for a decline of 3.5% in May. In Europe, the ZEW index of economic sentiment in Germany plunged to 31.5 this month from a reading of 41.9 in May. COMPANY NEWS: Gap (GPS) held its annual investor meeting today, but made its big news last night prior to the meeting by announcing that it will close about 175 of its namesake brand's stores in North America over the next few years. Gap estimated an annualized sales loss of approximately $300M associated with the closures and sees one-time costs primarily associated with these actions to be in the range of approximately $140M-$160M, the company noted. Gap shares advanced 55c, or 1.44%, to $38.75 following the announcement and meeting... Kirk Kerkorian, the founder of MGM Resorts (MGM) and one of the company's largest shareholders, died Monday night, the company confirmed. Kerkorian owned Tracinda Corporation, a private investment firm that disclosed a 16.19% stake in MGM Resorts and stated that its position in the common stock became subject to the terms of Kerkorian's will upon his death. The will instructs the executor of Kerkorian’s estate, Anthony Mandekic, to execute an orderly disposition of Tracinda’s position in the common stock, the firm stated. MAJOR MOVERS: Among the notable gainers was Coty (COTY), which advanced $5.04, or 19.35%, to $31.09 after The New York Post and Reuters reported that the company had won an auction to buy three Procter & Gamble (PG) beauty businesses valued at $12B. Shares of P&G, meanwhile, added 98c, or 1.25%, to $79.10 following the reports. Also higher were shares of NCR Corp. (NCR), which rose $3.36, or 10.71%, to $34.73 after Reuters reported that private equity firms Blackstone (BX) and Carlyle Group (CG) are planning to jointly bid for the company in a deal that could be worth over $10B, including debt. Among the noteworthy losers was Avalanche Biotechnologies (AAVL), which dropped $21.83, or 56.15%, to $17.05 after the company reported the results of a study of its AVA-101 drug for wet age-related macular degeneration, or wet AMD. Also lower were shares of Oshkosh (OSK), which fell $3.59, or 7.14%, to $46.71 after cutting its FY15 adjusted EPS view to $3.75-$4.00 from $4.00-$4.25, noting that sales and earnings for its third quarter, principally in its access equipment segment, have been hurt by several factors including severe weather conditions, potential rental industry consolidation and, to a lesser extent, new product launch delays. INDEXES: The Dow rose 113.31, or 0.64%, to 17,904.48, the Nasdaq added 25.58, or 0.51%, to 5,055.55, and the S&P 500 gained 11.86, or 0.57%, to 2,096.29.
12:09 EDTPGOn The Fly: Top stock stories at midday
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09:09 EDTPGOn The Fly: Pre-market Movers
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08:19 EDTPGCoty $12B deal for P&G brands could take two weeks to finalize, Reuters says
Coty (COTY), which won an auction to purchase beauty and hair care businesses valued at close to $12B from Procter & Gamble (PG), could need at least two weeks to finalize the transaction details, reported Reuters, citing sources close to the matter. The deal will be completed through a "Reverse Morris Trust" for tax purposes, meaning P&G will spin off its beauty assets into a separate company that will then absorb Coty in an all-share deal, then the newly combined company will redistribute shares to P&G shareholders, the report added. Coty shares are up 16% in pre-market trading to $30.25 following a related report from the New York Post last night. Reference Link
08:07 EDTPGCoty would be worth $34-$35 per share if deal carried out, says Stifel
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07:58 EDTPGCoty June volatility elevated into reports company buys P&G beauty product lines
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07:39 EDTPGCoty shares could rally on deal, says Wells Fargo
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June 15, 2015
18:05 EDTPGCoty up 2.69% after NY Post reports company buys P&G beauty product lines
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18:00 EDTPGCoty to acquire beauty product units from P&G for $12B, NY Post says
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08:01 EDTPFEPfizer Consumer Healthcare to expand Caltrate, Centrum production in China
Pfizer Inc announced that it broke ground for a $95M consumer products production facility in Suzhou, China. The new site is near the company’s existing Suzhou site and will help increase production capacity to meet growing demand for Pfizer Consumer Healthcare’s brands in China and the Asia-Pacific region. The new facility will primarily produce Caltrate dietary supplements and Centrum multivitamins, and in the future will support production of additional products. There are also plans to eventually house a research and development facility on the site to help support innovation in the region.
07:22 EDTPGHenkel CEO downplays rumors company will buy P&G unit, Reuters reports
Henkel (HENKY) CEO Kasper Rorsted downplayed speculation that it will look to buy Wella, a hair care company, from Procter & Gamble (PG), telling German newspaper Welt am Sonntag that the company does not need to do multi-bilion-euro acquisitions to grow and reach its financial goals, Reuters reports. Henkel had been considered to be the most likely buyer for Wella, though Reuters previously noted that KKR (KKR) also submitted a bid for the brand. Reference Link
07:01 EDTPFEVentana receives FDA approval for IHC companion diagnostic for Xalkori
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