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11:01 EDTSNYSanofi's Genzyme says Cerdelga capsules approved in Japan
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10:59 EDTUNH, ESRX, CVS, CTRXUnitedHealth in 'ring' with largest competitors after deal, say Piper Jaffray
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10:59 EDTCACCamden National to acquire Bank of Maine for $135M
Camden National, the parent company of Camden National Bank, and SBM Financial, the parent company of The Bank of Maine announced the signing of a definitive agreement under which The Bank of Maine will merge into Camden National Bank. The combined organization will operate under the Camden National Bank name and brand and be led by Gregory Dufour, president and CEO of Camden National and Camden National Bank. John Everets, The Bank of Maine's chairman and CEO, will provide consulting services through the transition. The combined organization will be headquartered in Camden, Maine, with several leadership positions in Portland. Consideration will be paid to SBM Financial stockholders in a combination of stock and cash valued at approximately $135M based on Camden National's closing price of $38.60 on March 27. With estimated cost savings of 37% of The Bank of Maine's pre-tax non-interest expenses and an anticipated closing date in Q3, the transaction is expected to be mid-teens accretive to Camden National's EPS starting in 2016. Camden National will maintain its capital position with a pro forma tangible equity to tangible assets ratio of 7%. The transaction is intended to qualify as reorganization for federal income tax purposes. As a result, the shares of SBM Financial will be transferred on a tax-free basis. The definitive agreement has been approved by the boards of directors of both Camden National and The Bank of Maine.
10:57 EDTPRGOPerrigo completes acquisition of Omega Pharma for EUR3.8B
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10:56 EDTWFly Watch: Wayfair IPO lock-up expires tomorrow
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10:54 EDTYELPRumor: Yelp strength attributed to renewed takeover speculation
10:52 EDTBRLI, DGX, EXAS, FMI, LH, MYGN, NVTALeerink's life science tools analyst holds an analyst/industry conference call
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10:51 EDTMAC, SPGWells thinks Macerich could be working on potential deal
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10:50 EDTDallas Fed's manufacturing index dropped to -17.4 in March
Dallas Fed's manufacturing index dropped to -17.4 in March, after tumbling to -11.2 in February from -4.4 in January. It's a 3rd straight monthly decline and likely reflects a lot of the negative fallout from the drop in energy prices. Weakness was broad-based. The employment index fell to -1.8 from 1.3, an was as high as 12.0 in August. The wage component slipped to 15.6 from 16.8 previously, and is the lowest since November 2013. It was high as 26.8 in September. The workweek dropped to -5.3 from -1.6. New orders fell to -16.1 after dropping to -12.2 in February from -7.7 previously. Shipments dropped to -8.7 from -3.3. The 6-month business activity index slid to 3.0 from 5.5, having recovered from the -6.4 in January. The 6-month employment index doubled to 18.3 from 9.2, with wages at 34.2 from 37.2, new orders at 31.0 from 25.3, and capital expenditures at 7.5 from 14.0.
10:46 EDTALTR, TWTR, CREE, YELP, FEYE, MYL, MRVL, HOT, SWKSOptions with increasing implied volatility
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10:46 EDTCSAL, WIN, FIGCommunications Sales & Leasing names Wallace as CFO
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13:25 EDTIMPR, IMPRImprivata participates in a conference call with Leerink
Leerink Digital Health Analyst Steve Wardell hosts CEO Omar Hussain to discuss opportunities and issues around Hospital IT security, Single Sign-On, and secure messaging on a conference call to be held on March 30 at 2 pm hosted by Leerink.
10:42 EDTROLL, DOVRBC Bearings price target raised to $85 from $72 at Barrington
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10:40 EDTDallas Fed Mfg Survey Bus Activity Index data reported
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10:37 EDTDWADreamWorks jumps after 'Home' beats expectations in opening weekend
The shares of film maker DreamWorks (DWA) are climbing sharply after the company's animated movie "Home" generated significantly more revenue than expected in its opening weekend in the U.S. WHAT'S NEW: "Home" took in $54M of revenue at the domestic box office this weekend. The $54M take was well above boxoffice.com's estimate of $31M ahead of the weekend. WHAT'S NOTABLE: In a note to investors earlier today, Piper Jaffray analyst James Marsh wrote that the movie had outperformed Wall Street expectations and may enable the company to launch a new multi-film franchise. The overall performance of "Home" will probably exceed expectations and the film is likely to generate $30M-$50M of profits for DreamWorks, Marsh predicted. More importantly, the film's success contradicts the bears' argument that the company has lost its ability to make good films and may ease concerns about the film maker's balance sheet, according to the analyst. He kept a $26 price target and Overweight rating on the shares. REASONS FOR SUCCESS: Writing yesterday that the movie "looks like a smash hit," Forbes columnist Scott Mendelson attributed the film's success both to its very famous cast, which included Rihanna, Jim Parsons and Steve Martin, and the uniqueness of choosing a young black female as the star of an animated move. According to Marsh, more targeted social media marketing and the strong marketing capabilities of Rihanna and Jennifer Lopez, who also played a character in the film, were the keys to the movie's initial success. BEARISH TAKE: Not everyone was optimistic about the overall outlook for "Home," as research firm B. Riley still believes there is a 75% chance that DreamWorks will have to take a write-off on the movie. That firm kept a Neutral rating on the stock. PRICE ACTION: In early trading, DreamWorks jumped 8.5% to $24.60.
10:35 EDTDownside Risk Persists for U.S. Payrolls:
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10:34 EDTGENEBaby born via karyomapping in Europe, Sunday Telegraph reports
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10:34 EDTTASTCarrols Restaurant initiated with a Buy at Dougherty
Target $10.50.
10:31 EDTPOT, AGU, MOSPotash says Canpotex reaches settlements with Chinese customers
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10:28 EDTHCPHCP sees 2015 adjusted FFO $3.06-$3.12, consensus $3.19
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