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Stock Market & Financial Investment News

News Breaks
July 14, 2014
09:55 EDTPTEN, MFRM, GTIV, SHPG, IMMRHigh option volume stocks: PTEN MFRM GTIV SHPG IMMR
News For PTEN;MFRM;GTIV;SHPG;IMMR From The Last 14 Days
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July 10, 2014
09:40 EDTSHPGAbbVie, Shire not holding talks at this point as deadline approaches, CNBC says
AbbVie (ABBV) and Shire (SHPG) are not holding talks at this point, according to CNBC's David Faber, citing sources. Shire confirmed two days ago that it has received AbbVie's latest, raised takeover offer and that its board will meet to consider the proposal.
08:32 EDTIMMRImmersion, Huawei Device enter multi-year license agreement
Immersion announced that it has entered into a multi-year worldwide license agreement with Huawei Device. This first direct license agreement with Huawei for Immersion’s haptic software, TouchSense 3000, enables Huawei to add feedback to certain Huawei branded mobile devices to create multi-dimensional user experiences.
July 9, 2014
18:31 EDTSHPGShareholders urge Allergan to make large acquisition, FT reports
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18:21 EDTSHPGAllergan CEO seeks sizeable acquisitions, WSJ reports
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08:21 EDTGTIVGentiva Health sees FY14 EPS 85c-$1.15, consensus 90c
Gentiva reaffirmed its full-year 2014 outlook. Net revenues are expected to be in the range of $1.9B-$2.1B, Adjusted EBITDA is expected to be in the range of $177M-$195M. FY14 revenue consensus $1.97B. Gentiva's 2014 outlook includes the full-year impact of its Harden acquisition and the final 2014 Medicare home health and hospice reimbursement rates issued by the Centers for Medicare and Medicaid Services (CMS). The 2014 outlook excludes any ongoing losses from closed locations as the operations are wound down.
08:19 EDTGTIVGentiva Health sees Q2 adjusted EPS from cont. ops 33c, consensus 22c
Gentiva Health said the company anticipates results from continuing operations for Q2 to be equal to or in excess of the following, net revenues of $496M, adjusted EBITDA of $52M. Q2 revenue consensus $492.46M. The company said, "Gentiva’s continued momentum in the second quarter of 2014 reflects the success of the changes and strategic investments the Company has made over the past year. We strongly believe that today’s announcement provides further evidence that Gentiva’s strategy to increase stockholder value is working, reinforcing that Kindred’s offer grossly undervalues Gentiva and is not in the best interest of Gentiva stockholders.”
08:19 EDTSHPGAbbVie offer may not bring Shire to negotiating table, says BMO Capital
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08:17 EDTGTIVGentiva Health says Kindred Healthcare offer 'substantially undervalues' company
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07:38 EDTSHPGShire still has leverage, can get one more raise from AbbVie, Reuters contends
The selloff in shares of Shire (SHPG) and AbbVie (ABBV) yesterday following the latter's increased takeover offer suggests the market now expects a strong rebuttal from Shire, but "one plausible response" is a gently worded rejection that signals that another raised bid would be enough to secure a deal without a hostile play, contended Reuters Breakingviews columnists Neil Unmack and Robert Cyran. Shire’s board still has some leverage and can "probably extract one more increase in return for their recommendation," the authors believe. Reference Link
06:40 EDTSHPGAbbVie required to retract comments in Shire takeover battle, Reuters says
AbbVie (ABBV) has been required to take back comments made by its CEO Richard Gonzalez regarding shareholder support for its offer for Shire (SHPG), according to Reuters, citing a statement from the U.S. drugmaker. British takeover rules say that a rival is not allowed to claim support for its bid unless it has this in writing from shareholders. Reference Link
06:22 EDTMFRMMattress Firm price target raised to $57 from $53 at Citigroup
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July 8, 2014
16:23 EDTSHPGOn The Fly: Closing Wrap
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12:48 EDTSHPGOn The Fly: Midday Wrap
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11:05 EDTSHPGHigh option volume stocks:
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09:15 EDTSHPGOn The Fly: Pre-market Movers
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09:05 EDTSHPGShire says board will meet to consider AbbVie proposal
Shire (SHPG) notes the announcement by AbbVie (ABBV) of a revised conditional non-binding proposal for a cash and share offer for Shire, comprising GBP 22.44 in cash and 0.8568 AbbVie shares per Shire share. "Shire confirms that AbbVie did not make the revised proposal to Shire before the announcement. The Board of Shire will meet to consider the proposal and a further announcement will be made in due course. Shareholders are strongly advised to take no action in relation to the AbbVie proposal. There can be no certainty that any firm offer will be made nor as to the terms on which any firm offer might be made. This statement is being made by Shire without the prior agreement or approval of AbbVie," Shire stated.
08:07 EDTSHPGShire volatility expected to move on AbbVie increasing proposal
Shire (SHPG) volatility is expected to move on AbbVie (ABBV) announcing that it has increased its proposal to GBP 22.44 in cash and 0.8568 ordinary shares of new AbbVie for each Shire share. This new proposal is an approximately 11% increase from AbbVie's prior indicative proposal. Overall option implied volatility of 49 is above its 26-week average of 34 according to Track Data, suggesting large near term price movement.
07:55 EDTSHPGAbbVie increases proposal for Shire to GBP 51.15 per share
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07:54 EDTSHPGShire jumps 3% to $244 after AbbVie ups buyout offer for fourth time
07:53 EDTSHPGAbbVie raises offer for Shire to 51.15 pounds per share
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