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Stock Market & Financial Investment News

News For VOXX;PSMT;RT;TXI;QUIK;STJ From The Last 14 Days
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August 30, 2015
16:11 EDTSTJSt. Jude Medical says five year FAME data shows reduced cardiac mortality
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16:03 EDTSTJSt. Jude Medical says Nanostim pacemaker study achieves primary endpoint
St. Jude Medical announced primary results from the LEADLESS II study that "confirm the positive benefits" of the Nanostim leadless pacemaker for patients in need of a single-chamber ventricular pacemaker, according to the company. The LEADLESS II study enrolled 526 patients at 56 centers across the United States, Canada and Australia. After six months, data from LEADLESS II shows the trial met both endpoints for primary effectiveness -- appropriate pacing and sensing -- and safety. LEADLESS II also demonstrated that retrieval of the implanted Nanostim leadless pacemaker was successful in 100% of patients requiring retrieval without any associated complications. Additionally, based on data from LEADLESS II, Nanostim's battery could be projected to last an average of 15 years, and possibly projected as high as 21 years depending on pacing needs. The longevity of the Nanostim device has been estimated to be 9.8 years at 100% pacing. Within the study, a total of 22 serious adverse device effects were observed over six months, including cardiac perforation, device dislodgement, and elevated pacing capture thresholds at rates of 1.3%, 1.7%, and 1.3%, respectively.
August 28, 2015
07:12 EDTSTJWilliam Blair names 21 stocks best positioned for volatile markets
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August 27, 2015
13:42 EDTSTJAnalyst says Abbott-St. Jude deal looks unlikely
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12:41 EDTSTJOn 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 EDTSTJDeutsche 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 EDTSTJAbbott bid for St. Jude doesn't seem likely, says Wells Fargo
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11:54 EDTSTJSt. Jude Medical fades from highs, levels to watch
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10:06 EDTSTJHigh option volume stocks
High option volume stocks: GLOG ACI NGD BEAT BAX TTPH STJ FNF SSTK
09:26 EDTSTJOn The Fly: Pre-market Movers
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07:57 EDTSTJAbbott 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 EDTSTJThoratec 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 EDTSTJAbbott volatility up into report prepping takeover offer for St. Jude Medical
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07:39 EDTSTJSt. 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 EDTSTJAbbott prepping $25B takeover offer for St. Jude Medical, FT reports
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06:56 EDTSTJAbbott prepping $25B takeover offer for St. Jude Medical, FT reports
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August 25, 2015
07:54 EDTSTJSt. Jude Medical management to meet with Oppenheimer
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August 24, 2015
08:31 EDTSTJSt. Jude Medical receives CE Mark for MRI labeling for Prodigy MRI system
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August 21, 2015
08:50 EDTSTJThoratec announces end of 'go shop' period in merger agreement with St. Jude
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August 19, 2015
11:15 EDTVOXXVOXX to acquire assets, controlling interest in EyeLock
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