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Stock Market & Financial Investment News

News Breaks
June 26, 2014
06:11 EDTWMB, AZNStocks with implied volatility below IV index mean; WMB FIO
Stocks with implied volatility below IV index mean; Williams (WMB) 21, AstraZeneca (AZN) 21 according to iVolatility.
News For WMB;AZN From The Last 14 Days
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October 28, 2014
10:23 EDTAZNPfizer says still looking at deals based on strategic fit
Pfizer (PFE) said during its earnings conference call that uncertainty around future tax actions remain a concern, but that the company is still looking for M&A opportunities. Pfizer says proposed rule changes have made "inversions" more difficult, but that meaningful value from inversion deals can still exists on a "case-by-case" basis. Shares of AstraZeneca (AZN), which was previously a target of Pfizer, are up 1.3% to $71.69 as Pfizer's earnings conference call continues.
October 27, 2014
20:54 EDTAZNLeerink's major pharma analyst holds an analyst/industry conference call
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15:18 EDTAZNEarnings Preview: Pfizer looks to new products to offset generic competition
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08:56 EDTWMBWilliams volatility elevated into Q3 and outlook
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07:29 EDTAZNWorldwide Business Research to hold a conference
ProcureCon Pharma 2014 is being held in Philadelphia on October 27-29.
07:22 EDTAZNAmerican College of Chest Physicians to hold a conference
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October 26, 2014
21:06 EDTWMBArmstrong, Chappel to serve as CEO, CFO respectively of merged MLP
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21:01 EDTWMBPurgason to join Williams as SVP overseeing the ACMP operations
Robert S. Purgason, current COO of the general partner of ACMP (ACMP), is expected to join Williams (WMB,WPZ) as SVP overseeing the ACMP operations. Purgason will report directly to Williams’ president and CEO Alan Armstrong. When the merger is complete, it is expected that Purgason also will serve the merged MLP as one of its general partner’s senior vice presidents, rather than as its COO.
20:56 EDTWMBWilliams to complete drop-down of remaining NGL & Petchem Services assets
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20:54 EDTWMBWilliams affirms dividend-growth guidance of approximately 15% annually
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20:50 EDTWMBWilliams, Williams Partners and Access Midstream announce merger agreement
Williams (WMB), Williams Partners (WPZ), and Access Midstream Partners (ACMP) announced that Williams Partners and Access Midstream Partners have entered into a merger agreement with an approximately $50B total transaction value. Williams owns controlling interests in the two master limited partnerships. Upon completion of the merger, expected to occur by early 2015, the merged MLP is anticipated to be one of the largest and fastest growing MLPs with expected 2015 adjusted EBITDA of approximately $5B, industry-leading 10% to 12% annual limited partner unit distribution growth rate through the 2017 guidance period and with expected strong growth beyond. Distribution coverage is expected to be at or above 1.1x or an aggregate of $1.1B through the 2017 guidance period. Cash distributions for 2015 are expected to total $3.65 per limited partner unit, up 50% and 30% over ACMP’s 2014 and 2015 distribution guidance, respectively. The merged MLP expects to pay a regular cash distribution in the first quarter of 2015 in the amount of 85c per unit, up 53% over the ACMP distribution paid in the first quarter of the prior year.Prior to the completion of the merger, ACMP will effect a subdivision of its common units and each public unitholder of ACMP will receive 0.06152 additional ACMP common units for each ACMP common unit they hold. In the aggregate, the public unitholders of ACMP will receive approximately 6.3M new ACMP common units with a value of approximately $381M or approximately $3.74 per public ACMP common unit, based on the closing price of ACMP as of October 24. The 6.3M units, or approximately $381M, represents additional value for ACMP public unitholders versus the original June proposal. Williams agreed to reduce the exchange ratio it would receive in the merger to offset the approximately $3.74 of value provided to the ACMP unitholders in the subdivision of the ACMP common units. Taking into account the impact of the subdivision of the ACMP common units and the terms of the merger agreement, the ACMP conflicts committee concluded the impact of the transactions on the public ACMP unitholders represents an effective exchange ratio of approximately 0.80 ACMP common units for each WPZ common unit outstanding. The merger terms were negotiated, reviewed and approved by the conflicts committees of the boards of directors of the general partner of each partnership. Each of the ACMP Conflicts Committee and the WPZ Conflicts Committee has unanimously approved the merger, the merger agreement and the related transactions. As part of their evaluation process, the conflicts committees retained independent legal and financial advisors and each committee received a fairness opinion from its financial advisor. As a result of the merger, WPZ will become wholly owned by ACMP. The merged MLP will be named Williams Partners and will be based in Tulsa with major offices in Oklahoma City, Houston, Pittsburgh, Salt Lake City and Calgary.
October 24, 2014
06:49 EDTAZNPfizer repurchase could squash AstraZeneca bid goal, Reuters says
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October 22, 2014
07:35 EDTAZNCardiometabolic Health Congress to hold annual meeting
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October 21, 2014
07:15 EDTAZNFDA to hold workshop on breast cancer drug development
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06:10 EDTAZNInovio, MedImmune, UPENN awarded $12.2M collaborative study by DARPA
Inovio Pharmaceuticals (INO) announced the Defense Advanced Research Projects Agency, or DARPA, has awarded $12.2M for a collaborative study that will be conducted by scientists from the Perelman School of Medicine at the University of Pennsylvania; Inovio Pharmaceuticals; and MedImmune, the global biologics research and development arm of AstraZeneca (AZN). The group will develop DNA-based monoclonal antibodies, or mAbs, for infectious disease treatment. DARPA is an agency of the US Department of Defense that creates and supports novel technologies important for national security. Together, the three organizations will develop and assess the DNA mAbs in preclinical studies using technology developed by Penn and licensed by Inovio. The collaboration will focus on three disease areas – influenza virus, Pseudomonas aeruginosa and Staphylococcus aureus.
October 20, 2014
07:47 EDTAZNPfizer less likely to renew Astra pursuit after Shire deal breakdown, FT says
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07:19 EDTAZNIBC Life Sciences to hold a conference
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07:14 EDTAZNEuropean College of Neuropsychopharmacology to hold a conference
27th ECNP Congress is being held in Berlin, Germany on October 18-21.
October 17, 2014
18:06 EDTWMBWilliams, Questar interested in QEP Resources pipeline unit, Bloomberg says
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17:23 EDTWMBWilliams, Questar interested in QEP Resources pipeline unit, Bloomberg says
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