AbbVie Inc. the Spinoff for 2013
AbbVie Inc (ABBV) just started trading in 2013. AbbVie is the first 'Spinoff' for Wall Street in the New Year and has separated from Abbott Labs (ABT).
AbbVie was the pharmaceutical division of Abbott Labs, so far its bounced from $34 to $35 per share. This spinoff has been in motion since 2011. Before the deal, Abbott was one of the largest healthcare companies in the world. The aging world population is going to keep popping pills made by AbbVie including the anti-inflammation drug Humira, the popular painkiller Vicodin, and cholesterol drug Niaspan.
Abbott's chairman and CEO Miles White called the event "the most transformative action" in the company's 125-history. AbbVie CEO Richard Gonzalez said that with his company's existing assets and focus on innovation "we intend to create significant value for our shareholders."
Bottom line: Time will tell if this spinoff will be successful and Wells Fargo is the first to set a price target of $33 to $34. For now add this stock to your watch list and as more information becomes available place your trading accordingly. To review the company check out their website at www.abbvie.com/
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Exchanging Pieces on the Chessboard | iBankCoin.com
- Deflation’s Final Curtain Call (Part 2) | Financial Sense
- The Bubble is in Cash, Not Stocks… | ZeroHedge
- Putin Says Everything U.S. Touches Turns Out Like Libya Or Iraq | ZeroHedge
- Sold Completely Out Of PSEC – 7% Loss (Update) | iBankCoin.com
- What Obama Meant To Wear... | ZeroHedge
- SCeNe FRoM AMeRiCaN JiHaD... | ZeroHedge
The most relevant financial news and articles from the Internets
- What It’s Like To Witness An Execution | Business Insider
- How E-Commerce Is Finally Disrupting The $600 Billion-A-Year Grocery... | Business Insider
- Streetinsider.com's Hot Lunchtime... | StreetInsider.com
- A New Documentary Reveals The Crazy Drama Between The Founders Of Burt's Bees | Business Insider
- Private Equity Funds Could Come To Your 401k Plans As Soon As Next Year | Business Insider
- FACEBOOK: Social Media Doesn't Actually Stifle People's Opinions (FB) | Business Insider
- Doctors Show Why 3D Printing Holds 'Limitless' Potential For Medicine... | Business Insider