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Stock Market & Financial Investment News

News Breaks
March 19, 2013
09:14 EDTDSW, AFFY, EA, CAH, STSI, BX, NKE, WAG, HNR, DELL, SKUL, ABCOn The Fly: Pre-market Movers
HIGHER: AmerisourceBergen (ABC), up 6.6% after signing long-term supply pact with Walgreen (WAG). The deal also grants Walgreen the right to buy a stake in AmerisourceBergen. Walgreen shares up 1.8% after deal and its own earnings report... Skullcandy (SKUL), up 7.1% after naming a new CEO who was a former Nike (NKE) executive... Dell (DELL), up 1.2% after Bloomberg says Blackstone (BX) considering bid to rival Silver Lake's LBO... Electronic Arts (EA), up 1.1% after CEO departs, Brean Capital calls departure a positive, Stifel raises price target to $21 from $17... LOWER: Cardinal Health (CAH), down 8.3% after losing its contract with Walgreen to AmerisourceBergen... Affymax (AFFY), down 58% after company to cut 75% of it workforce, explore strategic alternatives including possible bankruptcy... Harvest Natural (HNR), down 47% after disclosing accounting problems, says loss likely for 2012, auditors recommend "going concern" qualification... Star Scientific (STSI), down 10.6% after disclosing subpoenas received in late January, February... lululemon (LULU), down 5.2%, company lowers Q1 revenue view, stock downgraded at Sterne Agee... DOWN AFTER EARNINGS: DSW (DSW), down 8.3%.
News For ABC;WAG;CAH;SKUL;NKE;EA;DELL;BX;AFFY;HNR;STSI;DSW From The Last 14 Days
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February 24, 2015
07:36 EDTABCAmerisourceBergen completes tender offer for MWI Veterinary Supply shares
AmerisourceBergen Corporation (ABC) has successfully completed its tender offer to purchase all outstanding shares of MWI Veterinary Supply (MWIV) common stock for $190.00 per share in cash, without interest and less any applicable withholding taxes. The tender offer expired at 11:59 p.m., New York City time, on February 23. As of the expiration of the tender offer, 10,096,484 shares had been validly tendered and not validly withdrawn, representing approximately 78.1% of MWI's outstanding shares of common stock on a fully diluted basis. All conditions to the tender offer have been satisfied, and AmerisourceBergen has accepted for payment and will promptly pay the depositary for all validly tendered shares. AmerisourceBergen expects to complete the acquisition of MWI later today through a merger without a vote or meeting of MWI's stockholders.
07:31 EDTCAHRBC Capital to hold a conference
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06:09 EDTDSWDSW upgraded to Buy from Neutral at Sterne Agee
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February 23, 2015
08:42 EDTBXBlackstone Energy Partners II is oversubscribed at $4.5B
Blackstone announced the commencement of the investment period for its second energy-focused private equity fund, Blackstone Energy Partners II, with total commitments of $4.5B. BEP II received significant interest from both existing and new investors, with demand well surpassing the fund’s $4.5B hard cap. Investors in the fund include a diverse group of U.S. state pension funds, corporate pension funds, sovereign wealth funds, insurance companies, endowments, foundations and family offices. Like its predecessor fund BEP I, a $2.4B fund that had its final close in September 2012, BEP II will invest in control-oriented equity and equity-linked interests in companies, assets and development projects in the energy and natural resources sector on a global basis. To date, Blackstone’s energy-focused private equity team of professionals has deployed over $8B in this strategy. Blackstone's $16B diversified global private equity fund will continue to invest alongside BEP II in energy transactions on a 50/50 basis.
February 22, 2015
21:52 EDTABCVascular Solutions to replace MWI Veterinary Supply in S&P 600 as of 2/23 close
S&P 500 constituent AmerisourceBergen (ABC) is acquiring MWI Veterinary Supply (MWIV) in a transaction expected to be completed soon.
12:51 EDTCAHJ&J considers Cordis sale with Cardinal the leading suitor, Bloomberg says
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February 20, 2015
17:31 EDTCAHJ&J considering sale of Cordis with Cardinal the leading suitor, Bloomberg says
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10:01 EDTDSWOn The Fly: Analyst Upgrade Summary
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09:23 EDTNKEGoldman sees select Apparel and Footwear opportunities due to FX risk
Goldman said translation currency exposure in the Apparel and Footwear has created volatility and opportunity to gain exposure to this theme. Goldman's analyst sees a positive near-term set-up for Nike (NKE) and Tiffany (TIF) and a negative set-up for Crocs (CROX) and Abercrombie & Fitch (ANF) and of upcoming earnings reports.
07:48 EDTDSWDSW upgraded to Buy at Canaccord
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06:24 EDTDSWDSW upgraded to Buy from Hold at Canaccord
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February 18, 2015
10:42 EDTNKEApparel makers beyond Perry Ellis seen hurt by port slowdown
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06:21 EDTHNRHarvest Natural receives continued listing notice from NYSE
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06:03 EDTBXAllen Systems Group reaches agreement with senior lenders on debt restructuring
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February 17, 2015
08:09 EDTDSWDSW increases dividend 6.7% to 20c
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07:22 EDTEAMitsubishi UFJ to hold a tour
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07:02 EDTBXRentech secures additional loan commitment of up to $63M from GSO Capital
Rentech, Inc. (RTK) announced that GSO Capital Partners LP, the credit investment arm of Blackstone (BX), has increased its credit facility for Rentech by up to $63M. The majority of the proceeds from this new facility are expected to fund completion of Rentech’s Canadian wood pellet projects through positive cash flow. Rentech now estimates the cost to complete the construction of its Canadian wood pellet projects to be $125M-$130M. Rentech expects that the new term loan, together with its other cash resources, will be sufficient to fund its Atikokan and Wawa pellet projects until they have been commissioned and begin to generate positive cash flow. Rentech currently estimates that the cost to acquire and construct the two plants will be $125M-$130M, up from $105M. The majority of the increase is due to delays in construction and higher labor costs for installation of electrical and mechanical components. Rentech expects that working capital and the cost to commission the plants will add approximately $6 to $10 million to the estimated total project cost. Rentech does not expect the plants to generate positive EBITDA or cash flow for the year 2015. Annual stabilized EBITDA projected for both plants remains in line with previous guidance of C$17M-C$20M.
February 13, 2015
09:21 EDTBXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Cytokinetics (CYTK), up 15.6%... King Digital (KING), up 22.2%... Cyberark Software (CYBR), up 19.2%... Web.com (WWWW), up 4%... CBS (CBS), up 3.4%. ALSO HIGHER: Freescale Semiconductor (FSL), up 10.9% following a New York Post report that the company is exploring a sale. Carlyle Group (CG), which owns Freescale, along with Blackstone (BX), is up 1.5%. Blackstone is up fractionally... Whiting Petroleum (WLL), up 4.4% following a Bloomberg report that the company is seeking a buyer for assets in North Dakota... Ariad Pharmaceuticals (ARIA), up 5.7% following a CNBC report that Sarissa Capital is seeking to replace Ariad CEO and Chairman Harvey Berger. DOWN AFTER EARNINGS: Knowles (KN), down 20.3%... Zynga (ZNGA). down 12.4%... J.M. Smucker (SJM), down 2.1%. ALSO LOWER: Magnachip Semiconductor (MX), down 51.7% after restating financial results... Idera Pharmaceuticals (IDRA), down 7.6% after 20M share Secondary priced at $3.75.
07:10 EDTBXFreescale said to be exploring a sale, NY Post reports
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05:36 EDTEAJanuary NPD video game software sales rose 6%, says Piper Jaffray
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