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Stock Market & Financial Investment News

News Breaks
March 19, 2013
09:14 EDTABC, STSI, HNR, AFFY, BX, DELL, EA, NKE, SKUL, CAH, WAG, DSWOn 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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April 16, 2014
06:20 EDTBXTelefonica, Blackstone to form Axonix mobile-advertising venture, WSJ reports
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April 15, 2014
11:33 EDTBXBlackstone volatility increases into Q1
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06:33 EDTDSWDSW acquires approximately 44% interest in Town of shoes in Canada
DSW Inc. and Town Shoes announced that they have entered into a definitive agreement whereby DSW Inc. will purchase for cash approximately 44% interest in Town Shoes for approximately $62M. The transaction has been approved by each company's board and is expected to close in May. DSW Inc. is purchasing its initial 44% stake from AIMCo and may acquire additional shares from certain other minority shareholders as part of its initial investment. Additionally, DSW Inc. will have the right to purchase the balance of Town Shoes from the remaining shareholders, including Callisto Capital, after four years at a pre-determined EBITDA multiple. Callisto, on behalf of itself and the remaining shareholders, has the right to put the balance of the company to DSW Inc. after three years at a pre-determined EBITDA multiple. DSW Inc.'s initial stake provides 50% voting control and board representation, both of which are equal to that of Callisto. The transaction, which the company anticipates to record under the equity method, is expected to be slightly accretive to earnings in FY14, excluding one-time transaction expenses.
06:30 EDTDSWDSW acquires approximately 44% interest in Town of shoes in Canada
April 14, 2014
08:31 EDTBXBlackstone and Goldman Sachs to acquire Ipreo from KKR
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07:20 EDTBXKKR to sell Ipreo to Blackstone, Goldman Sachs for $975M, Financial Times says
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April 13, 2014
16:41 EDTWAGWalgreens investor group urges for re-domiciling tax base to Europe, FT says
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April 11, 2014
09:08 EDTWAGWalgreens has a conference call hosted by JPMorgan
JPMorgan Analyst Gill will host a conference call with CEO Greg Wasson on April 17 at 2 pm.
08:15 EDTEAElectronic Arts price target raised to $35 from $32 at Cowen
Cowen raised its price target on Electronic Arts citing the continuation of the console cycle, improved visibility on new titles, and the entrance into strong seasonality. Shares are Outperform rated.
April 10, 2014
11:28 EDTWAGWalgreens management to meet with BB&T
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11:23 EDTWAGRite Aid hits 52-week high after results, sales view top estimates
Shares of retail drugstore Rite Aid (RAD) are rallying after the company's fourth quarter results and fiscal 2015 revenue outlook topped analysts' consensus estimates. WHAT'S NEW: This morning, Rite Aid reported fourth quarter adjusted earnings per share of 10c and revenue of $6.6B, compared to expectations of 4c and $6.54B, respectively. Q4 same store sales increased 2.1%. Rite Aid forecast FY15 EPS of 31c-42c, compared to the consensus of 35c. FY15 revenue was seen at $26B-$26.5B, ahead of the consensus $25.75B. FY15 same-store sales are expected by the company to be up 2.5%-4.5%. WHAT'S NOTABLE: Rite Aid also announced it has acquired RediClinic, which currently operates 30 clinics in the greater Houston, Austin and San Antonio areas. Rite Aid CEO John Standley said, “Our recent acquisitions of Health Dialog and RediClinic, our expanded partnership with McKesson and our continued commitment to investing in our store base have positioned us to transition our strategy from turnaround to growth as we more aggressively pursue opportunities to become a growing retail healthcare company.” PRICE ACTION: In late morning trading, Rite Aid rose 71c, or about 11%, to $7.11 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $7.39. Including today's advance, the stock is up approximately 300% over the past twelve months. OTHERS TO WATCH: Other retail drugstore operators include Walgreen Company (WAG) and CVS Caremark (CVS).
11:23 EDTBXOptions with increasing implied volatility: CYTK BX
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10:00 EDTABC, NKEOn The Fly: Analyst Upgrade Summary
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09:16 EDTBXRentech announces $150M investment from Blackstone's GSO Capital
Rentech (RTK) announced that GSO Capital Partners LP, the credit investment arm of Blackstone (BX), will invest $150M in Rentech in the form of $100M of convertible preferred stock and a $50M term loan. The transactions closed on April 9. In connection with this investment, Blackstone/GSO appointed two members to Rentech’s Board of Directors: Douglas Ostrover, a senior managing director of Blackstone and co-founder of GSO Capital Partners, and Patrick Moore, the former chairman and chief executive officer of Smurfit-Stone Container Corporation, a paper-based packaging company with significant wood fibre operations. Rentech also announced a settlement with Concerned Rentech Shareholders, whereby CRS will approve an additional member to join Rentech’s Board of Directors and the board’s newly formed Finance Committee. Proceeds from Blackstone/GSO’s investment will fund identified growth opportunities in Rentech’s wood fibre processing business. Rentech also announced changes to its Board of Directors today: Douglas Ostrover, senior managing director of Blackstone and co-founder of GSO Capital Partners, has joined the board. Mr. Ostrover brings shareholder representation and significant finance experience. He has personally overseen GSO’s deployment of $65 billion of capital. Mr. Ostrover will be the chairman of the board’s Finance Committee. Blackstone/GSO appointed Patrick J. Moore, former chairman and chief executive officer of Smurfit-Stone Container Corporation, to the board.
09:06 EDTBXBlackstone reaches a financial closing for Ventika
Fisterra Energy, a company majority owned by funds managed by Blackstone (BX), and Blackstone Energy Partners, announced it has reached a financial closing for Ventika. Ventika will be located in the northeastern Mexican state of Nuevo Leon and is comprised of two 126 megawatt wind farms with total capacity of 252MW. Once completed the project will alleviate significant demands on Mexico’s existing power infrastructure, helping Mexico reduce pollution and CO2 emissions, and meet its target of achieving 35% renewable generation by 2025. The $650M project is being jointly developed by CEMEX (CX) and Fisterra Energy. This investment funds the installation of 84 Acciona AW-3000 wind turbine generators, each with a hub height of 120 meters and a nominal output of 3MW per turbine. Construction of the project, which is scheduled to be completed in FY16, is expected to generate approximately 1K jobs and more than 2K additional jobs in related industries.
08:55 EDTABCAmerisourceBergen upgraded at ISI Group
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08:10 EDTNKENike upgraded at Macquarie
As previously reported, Macquarie upgraded Nike to Outperform from Neutral. The firm is positive on Nike based on expectations for overseas revenue acceleration, strong futures orders, valuation, lower cost of production in Vietnam and sportswear category growth. Price target raised to $84 from $80.
07:49 EDTBXApollo, EQT, Blackstone mull offers for Gas Natural unit, Bloomberg says
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06:38 EDTABCAmerisourceBergen upgraded to Buy from Neutral at ISI Group
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05:57 EDTNKENike upgraded to Outperform from Neutral at Macquarie
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