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
- STTG Market Recap November 21, 2014 | FundMyMutualFund
- Every One Wants Dollars (Again) | ZeroHedge
- U.S. Retail Offsets Eurozone Weakness | Financial Sense
- Contrary To IRS Lies, Some 30,000 Lois Lerner "Forever Lost" Emails Have Been Recovered | ZeroHedge
- 10 Examples Of The Social Decay That Is Eating Away At America Like Cancer | ZeroHedge
- Still Lower Prices Ahead For Oil? | Financial Sense
- The Need To Escape Collapsing Empires | ZeroHedge
The most relevant financial news and articles from the Internets
- CHART OF THE DAY: Apple Has Nearly A Billion Payment... | Business Insider
- PUTIN: We're Stronger Than Everybody | Business Insider
- 30 Uplifting Photos Of Entrepreneurs In The Developing... | Business Insider
- All Blacks in quest to continue Wales domination | Business Insider
- U.S. Kids Using Media Almost 8 Hours a Day - BusinessWeek | BusinessWeek
- Keeping the samba drum beating in Ireland's '... | Business Insider
- The New Head Of Cadillac Says It Isn't An... | Business Insider