1. Medtronic, Inc. (NYSE: MDT) and Covidien plc (NYSE: COV) announced that they have entered into a definitive agreement under which Medtronic has agreed to acquire Covidien in a cash-and-stock transaction valued at $93.22 per Covidien share, or a total of approximately $42.9 billion, based on Medtronic`s closing stock price of $60.70 per share on June 13, 2014. Both Medtronic and Covidien ended the week higher.
2. Tuesday, the U.S. Bureau of Labor Statistics reported that Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in May on a seasonally adjusted basis.