Valeant tanks on report CVS terminated Philidor from Caremark program

Shares of Valeant Pharmaceuticals International Inc. tanked Thursday on a report from Dow Jones Newswires that CVS Health Corp. terminated Philidor, a pharmacy associated with Valeant, from its Caremark program. CVS made the decision following an audit of Philidor and cited “noncompliance” with its provider agreement, Dow Jones said. Short-seller Andrew Left last week alleged that Valeant was using Philidor as a front for fraudulent activities to inflate its results. Valeant has denied the allegations. Valeant shares slumped 5.9% to $110.01 and CVS shares rose 0.4% to $104.18.

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From:: Stock Market News

White House won’t comment on tax backdrop to Pfizer merger talks with Allergan

WASHINGTON (MarketWatch) – White House spokesman Josh Earnest on Thursday refused to comment on the possible tax implications of merger talks underway between Pfizer Inc. and Allergan PLC, based in Ireland. The deal looks like it could be another so-called inversion, where a U.S. company moves its headquarters overseas to take advantage of lower tax rates. Speaking in general terms, Earnest said inversions are “the kind of loophole that leaves a lot of Americans shaking their head.” He said it was a puzzle why Congressional Republicans protect these “tax giveaways for corporations.” One year ago, the Treasury Department announced it intended to issue new rules to stem the tide of inversions. House Democrats have proposed legislation to curb the practice.

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From:: Stock Market News

Carl Icahn calls Pfizer’s plan to leave the U.S. to save on taxes ‘dangerous’

Billionaire investor Carl Icahn took exception to Pfizer Inc.’s consideration of a merger with Ireland-based Allergan PLC , saying it will cost the U.S. hundreds of billion of dollars in tax revenue and thousands of jobs. In a letter to Congress, Icahn reiterated his call for international tax reform to prevent corporate inversions like Pfizer is planning, which are mergers with foreign companies to switch the country of domicile to save on corporate taxes. “Unfortunately, my warning concerning the imminent exodus of many of our best companies is coming true,” Icahn tweeted. “Today Pfizer confirmed they are planning to move out of the country. The situation is much more dangerous than most people believe.” Last week, Icahn said he was forming a $150 million Super PAC to express his strong opposition to corporate tax inversions.

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From:: Stock Market News

Triangle Town Center mall at risk of foreclosing over CBL loan restructuring

By Amanda Hoyle

If the owners of Triangle Town Center mall can’t work out a loan restructuring deal for the nearly $172 million loan that’s coming due on the property in December, it’s likely that the mall will go into foreclosure or be otherwise taken over by the lender.

Executives of CBL & Associates Properties (NYSE: CBL) just as much promised its investors and analysts during the company’s quarterly earnings report conference call on Thursday morning that if new satisfactory loan terms are not reached: “We… …read more

From:: biz journal foreclosures

Discover the Secrets to Increased Success

By Marc Courtenay

Whether it’s the last quarter of your business year or the first, knowing some secrets that help you to increase your business’ results can really pay off. Let’s begin with a powerful starting point. Napoleon Hill, the author of one of my favorite books on success (“Think and Grow Rich”) made this observation: “The starting point of all achievement is desire.”

My graduate work in Clinical and Business Psychology unearthed many examples of how all success begins by knowing what you want to achieve, then determining your level of intense desire. As the eminent psychologist Wayne Dyer used to say, “You can have anything you want if you really, really, really want it.” His point was that if we want to improve or reach our goals we need the “super fuel” of success which is a burning desire. If you underestimate the importance of this truth you’re likely to stay stuck. When you know what you fervently desire, you can take the step that legendary artist Pablo Picasso said is “… the foundational key to all success.”

That step involves taking action and the willingness to “Advance confidently in the direction of your dreams and endeavor to live the life you’ve imagined” as philosopher Henry David Thoreau stated. An example of a powerful action step for your business could include planning a client appreciation event like a luncheon seminar. Another action idea is to increase your presence by the effective use of social media.

Re-examine your desires as you decide what action steps to employ. Do you want better quality clients and residents or more of them or both? Or, perhaps your desire is “to work smarter not harder.” Having the latest versions of the most effective technologies to power your business forward is one smart desire. Now may be the ideal time to upgrade to the best programs available today.

An Inflection Point for Personal Reflection
Many times our personal desire is to use some self-reflection time at inflection points along our professional path. Maybe we just need a break, a change of responsibilities or new challenges?
These inflection points may reflect our need for something deeper, more intuitive. Now may be a good time to speak to a trusted advisor, mentor or friend to help bring the answers to our mind’s surface. The objectivity from someone who knows us well and may have personal experience in successful property management strategies can bring fresh ideas and a new perspective. This step is so effective.

Making the Inconspicuous More Obvious
When I consult with business people and managers I often ask them if they need a “change of scenery.” This often arouses their curiosity and they usually ask what I mean? This gives me the chance to ask them if they need a new work environment. It may be as simple as redecorating their offices or as complex as moving to a different facility. Either way it helps my clients dig deep into their own self-awareness for the answers that lie beneath the surface of their everyday mental …read more

From:: Property Management

Retail investors are the most bullish, and least bearish, in 8 months

Individual investors are the most bullish they have been in eight months, according to the latest survey by the American Association of Individual Investors, which some market watchers might view as a warning of a potential near-term pullback. The AAII said 40.4% of those surveyed expect the stock market to be up over the next six months, up from 34.8% a week ago, and the highest percentage since the week ending Feb. 26. The survey also said the percentage of those who were bearish dropped to 20.6% from 24%, also to the lowest level since Feb. 26. The S&P 500 fell as much as 3.5% in two weeks following the Feb. 26 survey results. Many Wall Street professionals see individual investors, or the retail crowd, as the last visitors to any market party, so they often view retail sentiment as a contrarian indicator.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Paul Ryan elected speaker of the House of Representatives

Rep. Paul Ryan was elected speaker of the House of Representatives on Thursday. Ryan, a Wisconsin Republican, won the position in a vote on the House floor with 236 votes. The 45-year-old Ryan was Mitt Romney’s vice-presidential pick in the 2012 election and is a fiscal conservative who once ran the House Budget Committee. Ryan replaces John Boehner of Ohio in the speaker post.

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From:: Stock Market News

Natural-gas prices gain more ground as U.S. supplies rise less than expected

Natural-gas futures gained more ground on Thursday after the U.S. Energy Information Administration reported that supplies of natural gas rose 63 billion cubic feet for the week ended Oct. 23. Analysts polled by Platts forecast a climb of between 66 billion cubic feet and 70 billion cubic feet. Total stocks now stand at 3.877 trillion cubic feet, up 409 billion cubic feet from a year ago and 153 billion cubic feet above the five-year average, the government said. December natural gas was at $2.355 per million British thermal units, up 5.7 cents, or 2.4%. It traded at $2.348 before the supply data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Pfizer confirms it is in merger talks with Allergan

Pfizer Inc. confirmed on Thursday that it is in “preliminary friendly discussions” regarding a potential merger with Allergan PLC . The drug giant said no deal has been reached, and there can be no certainty that current talks will lead to a deal. Pfizer said it would not comment regarding terms of a potential transaction. The news of a potential deal, which would be the biggest merger of the year, was first reported by The Wall Street Journal. Earlier Thursday, Allergan confirmed that it had been approached by Pfizer regarding a potential deal. Shares of Pfizer and Allergan remain halted since just before the market opened.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Mortgage rates decline as 30-year falls to 3.76%

WASHINGTON (MarketWatch) — Mortgage rates fell slightly in anticipation — correctly, as it turns out — that the Federal Reserve wouldn’t hike rates, Freddie Mac said. The 30-year fixed-rate mortgage fell to 3.76% in the week ending Oct. 29, down from 3.79%. The 15-year fixed-rate mortgage stayed at 2.98%, and the 5-year Treasury-indexed hybrid adjustable-rate mortgage stayed at 2.89%. The 1-year Treasury-indexed ARM averaged 2.54%, down from 2.62%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News