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20:39 EDTLLLumber Liquidators linked to health and safety violations, CBS' 60 Minutes says
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19:47 EDTSAICSAIC acquires Scitor for $790M in an all cash transaction
Science Applications International announced that it has entered into a definitive agreement to acquire intelligence community market leader Scitor Corp. for $790M in an all cash transaction from private equity firm Leonard Green & Partners. The SAIC Board of Directors has approved the transaction, which is expected to close in May 2015 and is subject to customary closing conditions. Under the terms of the agreement, SAIC will fund the transaction from increased borrowings and cash on hand. SAIC has secured a firm financing commitment and expects to put in place permanent financing. Following the close of the transaction, SAIC would have about a 3.6x debt to trailing 12 months pro-forma adjusted EBITDA level and a flexible balance sheet supported by continued strong free cash flow from the combined businesses. The combined pro-forma annual revenue of the two companies is $4.5B on a historical basis with adjusted EBITDA of $321M SAIC has identified annual pre-tax cost synergies of at least $20M. The transaction is expected to be EPS accretive in the first year excluding amortization of intangibles and approximately $15M of transaction costs. The transaction is expected to be generally neutral to earnings on a GAAP EPS basis in the first year, excluding transaction costs. The combined companies will have a population of approximately 14,500 employees.
19:42 EDTNXPI, FSLNXP Semiconductors, Freescale announce $40B merger
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19:32 EDTBRK.A, BRK.BBerkshire Hathaway's Munger hints at possible Buffett successors
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19:08 EDTAMGNAmgen ENDEAVOR study demonstrates superiority of Kyprolis over Velcade
Amgen and its subsidiary Onyx Pharmaceuticals announced the results from a planned interim analysis showing that the Phase 3 head-to-head clinical trial ENDEAVOR evaluating Kyprolis, carfilzomib, for Injection in combination with low-dose dexamethasone versus Velcade, bortezomib and low-dose dexamethasone met the primary endpoint of progression-free survival, PFS. Patients with relapsed multiple myeloma treated with Kyprolis lived twice as long without their disease worsening, demonstrating statistically and clinically significant superiority over Velcade. The Kyprolis combination demonstrated superiority over the Velcade combination for secondary objectives of higher overall response rate and lower neuropathy events. Overall survival data are not yet mature and continue to be monitored. Treatment discontinuation due to adverse events and on-study deaths were comparable between the two arms. The rates of cardiac failure and renal failure for Kyprolis were comparable to those observed in the Phase 3 ASPIRE study. In ENDEAVOR, the rates for cardiac and renal failure were higher in the Kyprolis arm versus the Velcade arm. There was an increase in the incidence of hypertension and dyspnea in the Kyprolis arm compared to Velcade and that observed in the ASPIRE study.
18:53 EDTVZMozilla announces new initiative to create devices based on Firefox OS
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18:48 EDTTAT&T to offer new HTC One and HTC Grip smart fitness tracker
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18:44 EDTSYF, SSNLFSynchrony Financial enables credit card benefits through Samsung Pay
Synchrony Financial (SYF) announced that the benefits and features available on Synchrony Bank-issued private label credit cards will be easily accessed by cardholders through the Samsung Pay (SSNLF) mobile wallet. Joining Samsung for the announcement at Mobile World Congress in Barcelona, Synchrony Financial is pleased to be a leader in preserving the value proposition of private label credit cards in this secure mobile wallet environment. Leveraging both Magnetic Secure Transmission, MST, and Near Field Communication, NFC, technologies, Samsung Pay is accepted at 90% of retail merchants and allows Synchrony Financial’s partners and customers to access the unique features and benefits that Synchrony Bank private label credit cards offer while using the mobile payment technology they desire. “This fits perfectly into our mobile wallet strategy to build, partner and invest in the latest technologies to benefit our customers and our partners,” said Margaret Keane, President and CEO of Synchrony Financial. “We continue to make our cards valuable to consumers, retailers and merchants and are pleased to expand our capabilities to securely offer private label credit card benefits through this mobile payment solution.”
18:37 EDTMWMen's Wearhouse could see pressure due to Jos. A. Bank merger, Barron's says
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18:32 EDTCPBCampbell Soup could drop 5%-10%, Barron's says
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18:29 EDTFTDFTD Companies shares could continue 15% higher, Barron's says
FTD Companies shares could continue over 15% higher in a year as the company should benefit from its acquisition of Provide Commerce, Barron's contends in a follow up article. Reference Link
18:28 EDTBBRY, AAPL, GOOG, MSFTBlackBerry expands cross platform strategy
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18:27 EDTAXPAmerican Express shares could rally 15%, Barron's says
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18:23 EDTVMIValmont could reach $180 per share in the next three years, Barron's says
Valmont could reach $180 per share in the next three years as the stock's historical multiple of fifteen times earnings implies that price target, Barron's contends in its 'Sizing Up Small Caps' column. Investors may want to add the stock to their portfolio, the paper adds. Reference Link
18:12 EDTTOT, XOM, BP, CVX, RDS.A, COPIraq's oil minister sees barrel of crude selling at around $65, Reuters says
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18:05 EDTNOKNokia CEO says 'business as usual,' no change to outlook, Reuters says
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17:59 EDTRWEOYLetterOne nears deal to close acquisition of RWE's Dea, WSJ says
LetterOne Group is near to closing a $5.6B deal to acquire Dea, the oil and natural-gas arm of German utility RWE AG (RWEOY), says the Wall Street Journal, citing people familiar with the matter. Reference Link
17:44 EDTS, BBYSprint, Best Buy announce 'Best Buy One Plan'
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17:36 EDTORAN, TIOrange considers possible tie-up with Telecom Italia, WSJ says
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17:22 EDTVMCVulcan Materials shares could rally over 50%, Barron's says
Vulcan Materials shares could rally over 50% as the company's cash flow returns, Barron's contends in a feature article. The company is also looking to achieve an investment-grade credit rating, the paper adds. Reference Link
17:20 EDTGOOGGoogle shares could rise 5%-10% with a dividend, Barron's says
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16:58 EDTNXPI, FSLNXP Semiconductors, Freescale in advanced talks to combine, WSJ says
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16:46 EDTV, SSNLFVisa to support consumer payments with Samsung Pay
Visa (V) announced it is supporting consumer payments with the new Samsung (SSNLF) Galaxy S6. Eligible consumers in the U.S. will be able to make secure Visa payments with Samsung Pay, Samsung’s new payment service scheduled to launch this summer.
16:42 EDTSSNLFSamsung says wireless charging built into Galaxy S6 and Galaxy S6 edge
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16:40 EDTSSNLF, TAT&T will carry the Samsung Galaxy S 6 and Galaxy S 6 edge
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16:37 EDTSSNLF, MASamsung Pay will enable MasterCard
Samsung Electronics (SSNLF) has unveiled Samsung Pay, a mobile payment service that will enable MasterCard (MA) cardholders to use their Samsung Galaxy S6 for everyday in-store purchases. The company added, "MasterCard built the foundation for secure digital transactions, so consumers can use their cards when, where and how they want. Samsung Pay delivers a seamless and secure mobile payment experience that will work at both contactless-enabled and most traditional point of sale terminals. For consumers and merchants alike, that means that every purchase made with a MasterCard using a Samsung Galaxy S6 will offer the enhanced security, benefits and guarantees of a digital MasterCard transaction including the latest tokenization technology. Owners of the new device will be able to use their MasterCard credit and debit cards from participating banks directly through Samsung Pay."
16:27 EDTMHFI, VRSKWood Mackenzie mulls GBP1.6B takeover bids, FT says
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16:19 EDTSSNLFSamsung says Samsung Pay will launch on Galaxy S6, Galaxy S6 edge in 2H
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15:36 EDTSSNLFSamsung unveils Galaxy S6 and Galaxy S6 edge
Samsung Electronics announced its entirely redefined smartphones, the Galaxy S6 and Galaxy S6 edge. "Creating a new standard for design, craftsmanship and performance, the Galaxy S6 and Galaxy S6 edge seamlessly blend premium materials with the most advanced Samsung technology to offer consumers an unmatched mobile experience." “With the all new Galaxy S6 and Galaxy S6 edge, Samsung is offering what’s next in mobility, along with a new standard to drive the global mobile agenda,” said JK Shin, CEO and Head of IT & Mobile Communications Division at Samsung Electronics. “By listening to our customers, and learning from both our success and missteps, we continuously push forward new technologies and ideas. With a reimagined design, robust partner network and novel services, the Samsung Galaxy S6 and Galaxy S6 edge offer users the ultimate experience in smartphone options.” Reference Link
15:15 EDTChina lowers benchmark rates for second time in four months, WSJ says
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15:10 EDTFNFGFirst Niagara files form to delay 10-K
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15:06 EDTNAVINavient unit received subpoena from NY DFS in December
Navient disclosed in a regulatory filing on Friday that in December 2014, Navient Solutions, NSI, received a subpoena from the New York Department of Financial Services as part of the NY DFS’s inquiry with regard to whether persons or entities have engaged in fraud or misconduct with respect to a financial product or service under New York Financial Services Law or other laws. The company added, "Navient has been in discussions with the NY DFS relating to this matter, is cooperating with the investigation and is committed to resolving any potential concerns. It is not possible at this time to estimate a range of potential exposure, if any, for amounts that may be payable in connection therewith and reserves have not been established in this matter. "
14:58 EDTTCONTRACON reports 'positive' results from trial combining TRC105 with Inlyta
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14:52 EDTASMLASML discovers IT system security incident, says limited amount of data accessed
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14:31 EDTHSBCHSBC to recruit next chairman from outside the bank, Sunday Times says
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13:38 EDTBBRY, SSNLFBlackBerry, Samsung bring enterprise services to KNOX and Samsung Galaxy S6
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13:35 EDTGZTGazit-Globe unit completes the acquisition of 100% of Mais Shopping
Gazit-Globe announced today that its wholly owned subsidiary, Gazit Brasil, which purchased 60% ownership of "Mais Shopping" in the city of Sao Paulo in the beginning of February for R$125M, will now purchase the remaining 40% stake in the asset for R$75M.
13:30 EDTHONHoneywell sees steady global helicopter demand for next five years
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13:26 EDTTAT&T confirms it will offer the LG Watch Urbane
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13:05 EDTBRK.A, BRK.B, AXP, KO, IBM, WFCBerkshire's Buffett says 2015 will be 'tough year' for 'Big Four' investments
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12:44 EDTBRK.A, BRK.BBerkshire Hathaway reports Q4 operating EPS $2,412 vs. $2,297 in Q413
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12:24 EDTXLRNAcceleron reports new data from Dart study on dalantercept in patients with RCC
Acceleron Pharma reported new preliminary data from the DART study, an ongoing phase 2 clinical trial of dalantercept in patients with advanced renal cell carcinoma, RCC. The preliminary data from part 1 of the DART study were presented in an oral session at the American Society of Clinical Oncology, ASCO, 2015 Genitourinary Cancers Symposium held in Orlando, Florida on February 28. “These promising response rates and progression-free survival data suggest that the dual angiogenesis blockade of ALK1 and VEGFR signaling with dalantercept and axitinib may provide additive efficacy compared to VEGFR inhibitor therapy alone,” said Matthew Sherman, M.D., Chief Medical Officer of Acceleron. “The results from part 1 of this study provide encouraging evidence of the safety and activity of this combination of two distinct anti-angiogenic agents in previously treated patients with advanced RCC,” said Martin H. Voss, M.D., medical oncologist at Memorial Sloan Kettering Cancer Center and lead investigator for the trial. “We look forward to building on these results in the randomized part 2 of the ongoing DART trial.”
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