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AbbVie Says $55 Billion Acquisition Of Shire Officially Dead By Clip Syndicate U.S. drugmaker AbbVie Inc said on Monday it has reached agreement with Shire Plc to officially call off its proposed $55 billion purchase of the Irish company, and will pay Shire a $1.64 billion breakup fee for walking away from the deal. Treasury Department aimed at curtailing a wave of such deals in which U.S. companies would redomicile overseas to take advantage of lower corporate tax rates in other countries. ...Read More »
UPS Says U.S. Rates To Rise 4.9 Percent As Of December 29 By Clip Syndicate Package delivery company United Parcel Service Inc said on Monday that rates for its services within and between the United States, Canada and Puerto Rico will rise by an average of 4.9 percent as of the end of the year. The Atlanta-based company said the rate changes for its ground, air, international and freight services would start Dec. 29. Last month, the company's main rival FedEx Corp announced a similar rate increase of 4.9 percent, which also includes shipments between the United States and Mexico, plus within Mexico. FedEx's rate increase will take effect on Jan. 5.

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SunEdison Shares Rise On Report Of Einhorn Recommendation By Clip Syndicate SunEdison's shares shot higher on Monday and its options activity spiked up following a report that Greenlight Capital's David Einhorn recommended the stock at a closed-door investor conference in New York on Monday. The solar company's shares were up 9.3 percent to$18.19 on the New York Stock Exchange. SunEdison's options were also active with 27,000 calls and about 10,000 puts traded by 1:40 p.m., according to options analytics firm Trade Alert.

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Wall Street Urges U.S. Regulators' Joint Cybersecurity Approach By Clip Syndicate Wall Street's top trade group is calling for the creation of a new inter-agency working group of regulators and the White House that would be tasked with developing consistent cybersecurity rules for the financial industry. The recommendation by the Securities Industry and Financial Markets Association was one of several unveiled on Monday as part of a new paper that lays out proposed "principles for effective cybersecurity regulatory guidance."

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Health Law Fails To Control Costs, But GOP Alternative 'Worse Than Obamacare' By Clip Syndicate The Wall Street Journal reports that a major claim of ObamaCare’s political salesmen is that it will reduce U.S. health spending. The heart of this claim is the Accountable Care Organization--or ACO-- but already evidence is accumulating that it isn't working. If the ACO goes the way of every other previous HHS adventure in false omniscience, government planners will invariably turn to rationing care. ...Read More »
Week Ahead Market Report: October 20, 2014 By Clip Syndicate The S&P 500 and NASDAQ Composite are both higher at this point on Monday afternoon, while the Dow Jones Industrial Average is slighly lower. Some of the most actively traded stocks include Bank of America (BAC) up 0.25%, Apple (AAPL) higher by 1.75%, Pfizer (PFE) lower by 0.10% and Facebook higher by 1.1%. ...Read More »
Monday Sector Leaders: Metals & Mining, Education & Training Services By Clip Syndicate In trading on Monday, metals & mining shares were relative leaders, up on the day by about 3.6%. Leading the group were shares of SinoCoking Coal & Coke Chemical Industries (SCOK), up about 69.8% and shares of Alpha Natural Resources (ANR) up about 10.1% on the day. ...Read More »
About The Weekly Market Wrap By Clip Syndicate At the end of each trading week, we here at Market News Video look back over the broad market action, focusing in on the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite indices. We also check in on movements in crude oil and gold. ...Read More »
Dow Movers: IBM, DIS By Clip Syndicate In early trading on Monday, shares of Walt Disney (DIS) topped the list of the day's best performing Dow Jones Industrial Average components, trading up 0.9%. Year to date, Walt Disney registers a 10.7% gain. ...Read More »
Allergan Shareholder Paulson & Co Urges Deal With Shire By Clip Syndicate According to two people familiar with the matter, Allergan Incorporated shareholder Paulson & Company is urging the Botox maker to merge with specialty pharmaceutical company Shire Plc as a potential alternative to a deal with hostile bidder Valeant Pharmaceuticals. The sources said that the hedge fund, which is Allergan’s third largest shareholder, told Allergan CEO David Pyott that it would support a deal with Shire, and the deal would not be structured as a so-called tax inversion.

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