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Stock Market & Financial Investment News

News Breaks
March 31, 2014
12:18 EDTMU, TEVA, T, MYL, NDZ, MNTA, PRANOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday in the last trading day of the first quarter of the year. The disappointing Chicago purchasing managers' report was offset by dovish comments from Fed Chief Yellen, who said the the central bank’s "extraordinary" aid will last for "some time.” ECONOMIC EVENTS: In the U.S., the Chicago PMI business barometer index came in at 55.9, versus the consensus forecast for a 59.0 reading. In Europe, the annual inflation rate across the 18-country eurozone fell for the third consecutive month, slipping to 0.5% in March, compared to analysts' consensus forecast for a milder drop to 0.6%. COMPANY NEWS: Shares of AT&T (T) advanced early in the session after the company's board of directors authorized the repurchase of up to 300M shares, or about 6% of its common shares outstanding. The company also noted it has 125M shares left under its buyback authorization that was issued in March of last year, but the stock had given up much of its early advance to be up fractionally near noon. MAJOR MOVERS: Among the notable gainers was Canada's Nordion (NDZ), which jumped 11% after the company agreed to be acquired by Sterigenics for $11.75 per share in cash shortly after Canada's government lifted its 25% limit on foreign investment in the company. Also higher following analyst commentary was Micron (MU), which rose nearly 8% amid notes in its defense from Stifel and Pacific Crest, as well as broad-based strength in technology stocks that have recently pulled back. Among the noteworthy losers were Momenta Pharmaceuticals (MNTA), which dropped 15%, and Mylan (MYL), which slipped over 1%, after the Supreme Court agreed to hear an appeal by Teva (TEVA) of a court ruling that would enable generic versions of its multiple sclerosis drug, Copaxone, to be sold in May. Also lower were shares of Prana Biotechnology (PRAN), which plunged over 70% after its clinical study of a drug being tested as a treatment of Alzheimer's Disease did not hit its primary endpoint. INDEXES: Near midday, the Dow was up 118.43, or 0.73%, to 16,441.49, the Nasdaq was up 52.48, or 1.26%, to 4,208.23, and the S&P 500 was up 14.56, or 0.78%, to 1,872.18.
News For T;PRAN;NDZ;TEVA;MNTA;MYL;MU From The Last 14 Days
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July 22, 2015
10:21 EDTMUTsinghua 'sounding out' Micron interest in deal, to make $23B bid, Nikkei says
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10:06 EDTMYL, TEVAAbbott CEO says supportive of Mylan pursuit of Perrigo
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09:30 EDTMYL, TEVAAbbott CEO says 'pretty alligned' with Mylan so far
05:55 EDTMUDRAMeXchange: DRAM prices to fall further, DigiTimes says
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July 21, 2015
19:34 EDTTAT&T pleased with FCC order, sees closing DirecTV deal 'shortly' after approval
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18:54 EDTTAT&T announces Department of Justice completed review of acquisition of DirecTV
AT&T (T) released the following statement "We are pleased the Department of Justice has completed its review of our acquisition of DIRECTV (DTV). We look forward to gaining the approval of the Federal Communications Commission so we can quickly begin providing consumers with the benefits of this combination."
18:33 EDTTFCC chairman proposes to approve AT&T-DirecTV deal with conditions
In light of news reports concerning the proposed AT&T (T) and DirecTV (DTV) transaction, FCC chairman Tom Wheeler issued the following statement: "An order recommending that the AT&T-DirecTV transaction be approved with conditions has circulated to the commissioners... If the conditions are approved by my colleagues, 12.5M customer locations will have access to a competitive high-speed fiber connection. This additional build-out is about 10 times the size of AT&T’s current fiber-to-the-premise deployment... and more than triples the number of metropolitan areas AT&T has announced plans to serve. In addition, the conditions will build on the 'Open Internet Order' already in effect... First, in order to prevent discrimination against online video competition, AT&T will not be permitted to exclude affiliated video services and content from data caps on its fixed broadband connections. Second, in order to bring greater transparency to interconnection practices, the company will be required to submit all completed interconnection agreements to the Commission, along with regular reports on network performance... We will require an independent officer to help ensure compliance with these and other proposed conditions." Reference Link
18:24 EDTTFCC poised to approve AT&T acquisition of DirecTV, WSJ reports
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16:57 EDTTFCC poised to approve AT&T acquisition of DirecTV, DJ says
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10:04 EDTMUMicron spurning of Tsinghua a 'bargaining tactic,' blog author contends
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July 20, 2015
16:01 EDTMUOptions Update; July 20, 2015
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13:18 EDTMUOptions with increasing call volume
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13:10 EDTMUMicron calls Tsinghua takeover offer unrealistic, Reuters reports
Micron has told Tsinghua Unigroup that its $23B takeover offer is unrealistic due to U.S. national security concerns, reports Reuters, citing people familiar with the matter. Sources said Micron believes the Committee on Foreign Investment in the United States, a government task force which Reuters notes has the power to stop mergers that threaten national security, would not approve Tsinghua's proposed deal. Micron has not formally hired an investment bank because it is not seriously considering Tsinghua's offer, the sources added. Reference Link
12:58 EDTMUMicron does not think U.S. would approve deal with Tsinghua, Reuters reports
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10:26 EDTTEVALeerink's specialty pharma/generics analyst has analyst/industry conference call
Specialty Pharmaceuticals / Generics Analyst Gerberry, along with MEDACorp Specialists Michael Belliveau, PhD and Shashank Upadhye, JD, discuss the strengths and weaknesses of TEVA's preliminary responses to the IPR challenge on Copaxone 40mg, the likely outcomes for the Copaxone 40mg patent challenge and perspectives on recent updates in the JAZZ Xyrem patent case on an Analyst/Industry conference call to be held on July 22 at 2 pm.
10:17 EDTMUHigh option volume stocks
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09:34 EDTMUActive equity options trading on open
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08:38 EDTMYLAnalyst predicts Zoetis merges with Bayer unit, not Valeant
Zoetis (ZTS) in recent months has been the subject of takeover speculation, possibly for Valeant (VRX), but a Jefferies analyst told investors today in a research note that he views a deal with a unit of healthcare giant Bayer (BAYRY) as "highly likely" for the animal medicine company. BACKGROUND: Bill Ackman of Pershing Square, who owns stakes in both Zoetis and Valeant, said in early May while speaking on CNBC that Zoetis is a "great” business on a standalone basis, but he also spoke of the company's strategic value. Ackman added, however, that he was "not sure" that Valeant was the best acquirer of Zoetis. Subsequently, in late June, The Wall Street Journal reported that Valeant made a preliminary approach regarding a potential deal to buy Zoetis. CNBC's David Faber said the next day, citing his own sources, that Valeant reached out to Zoetis as a courtesy to common shareholder Ackman and was unlikely to pursue an acquisition of the company, though he cautioned then Valeant could change its approach and pursue a deal. BAYER: Jefferies analyst Jeffrey Holford said in a note today that he views a tie-up between Zoetis and Bayer's Animal Health business in 2016 as "highly likely." He sees Mylan's (MYL) acquisition of Abbott's (ABT) non‑U.S. developed markets specialty and branded generics business as a potential proxy for how a transaction could be structured, adding that such a "spinversion" could achieve up to 36% long-term earnings accretion for Zoetis. Holford reiterated a Buy rating on Zoetis with a $60 price target, while downgrading Bayer to Hold, citing valuation following the recent outperformance of its shares. IDEXX: While being discussed as a target, some analysts have also opined on companies that Zoetis could pursue as a buyer. On June 29, Canaccord said that in investor meetings with IDEXX (IDXX) executives declined to comment on Zoetis' potential interest in scaling up its animal health diagnostics business. Canaccord added that it thought Zoetis could make a bid for IDEXX. The firm reiterated its Buy rating and $80 price target on IDEXX shares at that time. PRICE ACTION: Since June 25, the day the Journal first reported on Valeant's preliminary takeover approach to Zoetis, the animal health company's shares have dropped nearly 4%. Zoetis closed down 20c to $47.80 on Friday.
07:33 EDTMYLInternational AIDS Society to hold a conference
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07:30 EDTMYLZoetis 'highly likely' to merge with Bayer unit in 2016, says Jefferies
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