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Stock Market & Financial Investment News

News Breaks
June 16, 2014
13:38 EDTSHPG, C, NPSP, ABBV, BMY, GILD, BIIB, AMGNShire selects Citi as adviser to prepare for takeover offers, Reuters reports
Shire (SHPG) has hired Citi (C) as an adviser as it prepares for takeover bids, Reuters reports, citing sources. Bankers in the sector believe Shire could be a attractive to Bristol Myers (BMY), Abbvie (ABBV), Gilead (GILD), Biogen (BIIB) or Amgen (AMGN). Reference Link
News For SHPG;C;NPSP;ABBV;BMY;GILD;BIIB;AMGN From The Last 14 Days
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August 8, 2014
07:48 EDTABBVCredit Suisse remains a buyer of AbbVie
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07:18 EDTCRegulators direct banks to steer mortgage aid to hard-hit areas, FT says
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06:30 EDTCCitigroup, Accenture employ tech workers in Argentina, Bloomberg says
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August 7, 2014
16:00 EDTCOptions Update; August 7, 2014
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11:02 EDTBMYBristol-Myers enters development pact with Leica Biosystem
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10:51 EDTBIIB, SHPGOptions with increasing implied volatility
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09:36 EDTGILDActive equity options trading on open
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08:23 EDTCL.A. suit against JPMorgan over mortgage lending dismissed, Reuters reports
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08:10 EDTNPSPNPS Pharmaceuticals management to meet with Leerink
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August 6, 2014
16:51 EDTNPSPNPS Pharmaceuticals says on track to meet FY14 $100M-$110M revenue view
The company continues to expect FY14 operating expenses, excluding the impact of share-based compensation and cost of goods sold, to be between $180M-$200M.
16:48 EDTNPSPNPS Pharmaceuticals reports Q2 EPS 2c, consensus 0c
Reports Q2 revenue $56.1M, consensus $53.06M.
16:01 EDTCOptions Update; August 7, 2014
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12:59 EDTSHPG, ABBVCovidien drops as Treasury explores ways to stymie inversions
Shares of medical device and drug maker Covidien (COV) are falling after multiple media outlets reported that the Treasury Department is looking into ways of curtailing tax inversion deals. Covidien has agreed to be acquired by Medtronic (MDT) in a tax inversion deal. BACKGROUND: Tax inversions refer to an acquisition of one company, usually officially based in a country in Europe or elsewhere, 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. WHAT'S NEW: The Treasury Department is looking at options that would enable the Obama administration to curtail inversion deals without authorization from Congress, multiple media outlets reported last night and today. ANALYST REACTION: In a note to investors today, Wells Fargo analyst Larry Biegelsen wrote that he believes that Medtronic would buy Covidien even if the transaction cannot be done as an inversion. At a conference in June, Medtronic CFO Gary Ellis said that his company would "do the deal whether it's an inversion or not inversion," Biegelsen stated. If no inversion is possible, Medtronic would respond by using less of its stock and more debt to fund the transaction, the analyst believes. Such a change would actually cause Medtronic's cash earnings per share to be higher in the first and second year after the deal than under the current structure, the analyst indicated. He kept an Outperform rating on Medtronic. PRICE ACTION: In early afternoon trading, Covidien dropped 2% to $84.50 and Medtronic fell 1% to $61.50. Meanwhile, drug maker Shire (SHPG), which has agreed to merge with its peer AbbVie (ABBV) in a tax inversion deal, is falling 4% to $236.
09:36 EDTCActive equity options trading on open
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09:19 EDTSHPGShire, AstraZeneca, Smith & Nephew slump amid inversion fears, FT says
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09:13 EDTSHPGOn The Fly: Pre-market Movers
HIGHER: Fox class A shares (FOXA), up 5.9% after withdrawing proposal to acquire Time Warner (TWX), announcing $6B share repurchase program, reporting quarterly results... MannKind (MNKD), up 1.6% after entering a supply agreement with Amphastar Pharmaceuticals (AMPH)... Criteo (CRTO), up 11.5% after upgraded at Goldman following its better than expected Q2 earnings report. LOWER: Time Warner (TWX), down 13% after earnings, maintaining guidance, bid dropped by Fox... Sprint (S), down 16.5% after naming Marcelo Claure as president and CEO, reportedly dropping pursuit of T-Mobile (TMUS). T-Mobile shares also down 8.5%... Groupon (GRPN), down 18%, downgraded at Wunderlich after the company reported lower than expected Q3 results... Walgreen (WAG), down 15.7% after exercises option to acquire remaining 55% of Alliance Boots, says it will not pursue inversion as part of deal... Shire (SHPG), down 6% after Walgreen announced it would stay located in Chicago and Bloomberg last night reported that the Treasury Department is exploring ways to bypass Congress in an attempt to curb corporate inversions... Cytori Therapeutics (CYTX), down 33% after announcing that it has placed enrollment in the ATHENA and ATHENA II trials on clinical hold. UP AFTER EARNINGS: Enphase Energy (ENPH), up 20%... AOL (AOL), up 5%. DOWN AFTER EARNINGS: Nu Skin (NUS), down 8.5%... Rocket Fuel (FUEL), down 27%... Cognizant (CTSH), down 13%... First Solar (FSLR), down 2.5%... Globus Medical (GMED), down 17%.
08:40 EDTSHPG, ABBVShire drops 5% with tax inversions in focus
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08:20 EDTCFed, FDIC tell big banks to revise 'living will' plans
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07:53 EDTCCitigroup volatility at two-year average
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07:19 EDTBIIBAkebia names Brad Maroni as Chief Medical Officer
Akebia Therapeutics (AKBA) announced the expansion of its senior management team with three key additions: Brad Maroni, M.D., as Senior Vice President and Chief Medical Officer, Mark De Rosch, Ph.D., as Vice President of Regulatory Affairs and Tamara Dillon as Vice President of Human Resources. Maroni most recently served as Vice President, Medical Research at Biogen Idec (BIIB).
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