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
- These Cabinet Picks Illustrate that Trump is Way Over His Head as President (Video) | ZeroHedge
- Global Stocks Hit 16 Month High As Draghi’s “Dovish Taper” Sustains “Trumpflation”, Dollar Rises | ZeroHedge
- The Stock Market is Officially in BUBBLE Territory (Video) | ZeroHedge
- A Major Red Flag? Chinese Oil Demand Growth Could Shrink 60% In 2017 | ZeroHedge
- Congress Member Introduces Bill to Stop Funding Terrorists | ZeroHedge
- Moving Backwards: Despite Claims Of A Recovery, "Economy Is In Reverse" | ZeroHedge
- TRUMP, Tactless Turncoat or Toupeed Tactician? | ZeroHedge
The most relevant financial news and articles from the Internets
- Blockchain platform race heats up (IBM) | Business Insider
- A financial expert reveals when you should pay off your credit card... | Business Insider
- The 'War for the Planet of the Apes' trailer is here, and it's dark and visually stunning | Business Insider
- This artist paints on her body to transform herself into trippy 2D comic... | Business Insider
- Watch a US-led airstrike wipe out a major ISIS revenue source in the heart of... | Business Insider
- Lego Is for Girls | BusinessWeek
- 'They haven't played by the rules': Trump accuses... | Business Insider