In honor of fashion week Jim Cramer reviews the trending stocks of the moment, including this popular security group.» Read More
Some of Tuesday's midday movers:
The United States and Arab allies bombed Syria for the first time on Tuesday, killing scores of Islamic State fighters and members of a separate al Qaeda- linked group, opening a new front against militants by joining Syria's three-year-old civil war. AbbVie has agreed to a deal to acquire Shire, which fell 1.9 percent to $251.38 in New York.
*Action may deter Pfizer from returning to bid for AstraZeneca. Burger King, which is in the process of an inversion deal with Canada's Tim Horton's, said Tuesday it would proceed with its $11.5 billion deal despite the Treasury actions, saying the transaction was not about the tax benefits.
The US government has been promising a crackdown on tax inversion deals for months. Yet the measures announced Monday may not be disincentive enough.
*May deter Pfizer from returning to bid for AstraZeneca. LONDON, Sept 23- Shares in drugmakers AstraZeneca and Shire fell sharply on Tuesday after the U.S. The move could jeopardize an agreed deal for AbbVie to buy Shire for $55 billion and deter Pfizer from making another attempt to acquire AstraZeneca, after a $118 billion takeover attempt failed in May.
WASHINGTON, Sept 22- Moving against tax-avoidance by corporations, the Obama administration is taking several actions to curb deals known as "inversions" that allow companies to escape U.S. taxes by reincorporating abroad.
The issue of so-called tax inversions has been a major policy point for President Barack Obama over the past few months.
Medtronic's plan to reimburse execs and directors for $63 million in excise taxes from a tax inversion draws heat from shareholders.
NEW YORK, Sept 16- Some of the top 20 investors at Salix Pharmaceuticals Ltd are threatening to vote down a proposed deal to buy a unit of Cosmo Pharmaceuticals SpA, and are pressing Salix to consider selling itself instead, people familiar with the matter said on Tuesday.
LONDON, Sept 16- Roche's decision to buy U.S. biotech company InterMune for $8.3 billion last month was "exceptional" and not a sign of more ambitious plans for major acquisitions, the Swiss drugmaker's chief executive said on Tuesday.
NEW YORK, Sept 11- U.S. specialty drugmaker Akorn Inc is exploring a bid for Belgian drugmaker UCB SA's U.S. subsidiary, a deal that would allow the company to move its tax domicile overseas in a practice known as inversion, according to people familiar with the matter.
Washington must address corporate tax inversions before the tactic further destroys the U.S. corporate tax base, says CVS CEO Larry Merlo.
NEW YORK, Sept 3- Some of the best-known technology investors are looking beyond their tried-and-true Internet plays to bet on healthcare data as the next growth market.
Public pension funds have major stakes in American firms moving overseas to cut their tax bills. But they are saying little about the strategy.
Burger King is in talks to combine with Tim Hortons in a deal that would create a powerhouse with a market capitalization of roughly $18 billion.
Biotech firm Roche announced plans Sunday to buy InterMune for $8.3 billion on a fully diluted basis in an all-cash transaction.
U.S. stock-index futures pointed to a higher open on Tuesday, as global markets continued to rebound on waning Ukraine-Russia tensions.
Some of the names on the move ahead of the open.
Establishing a tax domicile abroad to avoid taxes is popular, but many US companies have failed to produce strong returns for investors.
The M&A wave could be a harbinger of a booming economy...or a collection of last-minute attempts to beat higher debt rates. NYT reports.