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Wednesday October 7, 2009

DrStockPick.com Stock Report!

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President Alvaro Uribe of Colombia, along with J.W. Marriott Jr., chairman & chief executive officer of Marriott International, Inc. (NYSE: MAR), and Ricardo Poma, president of Grupo Poma, celebrated the grand opening of the 239-room Bogota Marriott Hotel last evening in Bogota, Colombia. The hotel is operated under a franchise agreement with Real Hotels & Resorts of El Salvador. It is the first Marriott International branded hotel to open in the country.

Great Plains Energy Incorporated (NYSE:GXP) announced

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Cardinal Health, Inc. (CAH) yesterday entered into a five-year, laboratory products supply agreement with Novation, one of the largest group purchasing organizations (GPOs) in the U.S. Per the agreement, Cardinal Health will exclusively provide laboratory products to Novation's clinical members, such as hospital laboratories, blood banks, core laboratories and reference laboratories. The agreement is effective from Oct. 1, 2009 and runs until 2014. Financial terms of the agreement have not been disclosed. Cardinal’s stock reacted positively to the news, with the price increasing roughly 1.4% to $27.70 at the end of Sept. 28, 2009. Cardinal Health is one of the largest global healthcare companies which helps pharmacies, hospitals and ambulatory care sites to focus on low-cost patient care. The company is also a leading manufacturer of medical and surgical products. Cardinal Health recently completed the spin-off of its Clinical and Medical Products business to form ...

Cardinal Health, Inc. (CAH) has completed the spin-off of its Clinical and Medical Products business to form a subsidiary, CareFusion Corporation (CFN). The spin-off was completed through a pro rata distribution of roughly 81% of CareFusion’s common stock. Roughly 222 million shares of CareFusion common stock were outstanding on the date of distribution. Of this, 180 million shares (81%) were distributed to Cardinal Health shareholders on a pro rata basis. Cardinal Health retained the balance 41 million shares, which will be divested within the next five years. Cardinal Health shareholders received 0.5 share of CareFusion common stock for each share of Cardinal Health they hold. We think that the spin-off will help Cardinal Health unlock the value of the assets tied to CareFusion and concentrate more on its core Healthcare Supply Chain business. The company’s core Healthcare business constitutes roughly 96% of total revenues....

Cardinal Health, Inc. (CAH) has offered to buy back $1.2 billion of its long-term debt securities (notes) as part of its plan to reduce long-term debt after spinning off its CareFusion Corporation division on Aug 31, 2009. These securities carry maturity dates from 2011 to 2026. The offer expires on Sept. 24 and the owners of these securities must tender their notes by Sept 10 to receive the early tender premium. The notes were issued by Cardinal Health and its subsidiary, Allegiance Corp., Cardinal will finance the buyback with a combination of both cash in hand and a $1.4 billion it is expecting to generate from the CareFusion spin-off. The amount remaining after financing the tender offer will be used for retiring notes due in Oct 2009. We view the buyback as a good use of the company’s cash balance. Cardinal’s cash balance stood at roughly ...