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The Capitalist Newsletter – November 3, 2016

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JUSTICE DEPARTMENT SUES AT&T FOR COLLUSION; TIME WARNER DEAL AT STAKE

On Wednesday, the U.S.Justice Department filed an antitrust lawsuit against DirecTV and (now parent company) AT&T. The suit alleges collusion over the way information was shared between channel providers during negotiations to carry a channel devoted solely to Dodgers baseball. The lawsuit comes at a time when AT&T is submitting an $84 billion proposal to acquire Time Warner. Is that acquisition now in danger?

Read The Capitalist’s Take Here

Read More at Yahoo News

Read More at Reuters


FED STANDS PAT, MOVES CLOSER TO RATE HIKE

Federal Reserve policy makers left interest rates unchanged while saying the argument for higher borrowing costs strengthened further amid accelerating inflation, reinforcing expectations for a hike next month.

Read More at Bloomberg Here

Read More at CNBC Here

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Read More at CNN Here


VALEANT EXPLORING SALE OF EYE-SURGERY EQUIPMENT BUSINESS TO AID IN DEBT RELIEF

Valeant Pharmaceuticals International Inc. is exploring a sale of its eye-surgery equipment business as part of a sweeping effort to unload assets and pare debt. The eye-surgery business, which Valeant acquired with its purchase of Bausch & Lomb just three years ago, could fetch as much as $2.5 billion in a sale, according to people familiar with the matter. It’s not clear who may be interested in the operation. The sales process is in an early stage and Valeant may still decide not to sell the business, some of the people said.

Read More at Wall Street Journal Here

Read More at Reuters Here

Read More at Business Insider Here


Closing Bell

-Wednesday, November 2nd

Markets Continue Streak, Close Lower as Election Looms

Big Insider Trades

– Skechers U.S.A., Inc. (SKX) President Michael Greenberg Sells $3m

-NuVasive, Inc. (NUVA) Director Patrick Miles Buys $1m

Winners & Losers

-AveXis, Inc. (AVXS) Shoots UP (22.18%) After Announcing Trial to Evaluate Leading Drug Candidate Against Spinal Muscular Atrophy

– Adeptus Health, Inc. (ADPT), Nation’s Largest Operator of Freestanding Emergency Rooms, Plummets DOWN (67.99%) After Posting $11.7 Million Loss inQ3

Most Talked About

Bunge Ltd (BG) a Unanimous Strong Buy After Record US Harvest

The TIP Sheets

-Wednesday, November 2nd

– Columbia Pipeline Partners LP (CPPL) Spikes UP 6.88% After Announcing the Company is Being Absorbed by TransCanada. Expect Shares to Continue UP

Unusual Volume

– GameStop Corp. (GME) Falls DOWN (11.16%) on 13.5m Shares Traded After Announcing New October Games Underperformed. With the Holidays Right Around the Corner, Look For Shares to Bounce Back UP

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