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
- The False Promises Of 2% Inflation | ZeroHedge
- China’s Pivot Toward Europe May Cut U.S. Out of Deal | Financial Sense
- Competitive Theories: “Deflation Warning” vs. “Inflation Is Nearly Everywhere” | Financial Sense
- From Average Joe To Average Jihadi - How A Texas Plumber's Truck Turned Up In Syria | ZeroHedge
- Police Reportedly Rage, De Blasio's "Hands Are Dripping With Blood" | ZeroHedge
- Weekend Top 100 | iBankCoin.com
- Two NYPD Cops Murdered In "Execution Style" Ambush, Shooter Commits Suicide - Live Coverage | ZeroHedge
The most relevant financial news and articles from the Internets
- 14 Gifts Teenagers Will Actually Want | Business Insider
- In United States, drones take off as Christmas gifts | Business Insider
- Four Afghan Guantanamo detainees repatriated, says... | Business Insider
- Amazon Prime Now Promises One-Hour Delivery of 'Daily Essentials' | TheStreet.com
- There Are 3 Overwhelming Favorites To Win The Super Bowl | Business Insider
- The Single Most Important Risk Investors Face | Business Insider
- How To Get A Few More Days Out Of An Opened Bottle Of Wine | Business Insider