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Stock Market & Financial Investment News

News Breaks
March 26, 2012
09:55 EDTYGE, YGE, YGE, ROK, ROK, ROK, SPW, SPW, SPW, TYC, TYC, TYC, UNP, UNP, UNP, UPS, UPS, UPS, WERN, WERN, WERN, MSM, MSM, MSM, MMM, MMM, MMM, MG, MG, MG, JASO, JASO, JASO, ITW, ITW, ITW, ITT, ITT, ITT, HON, HON, HON, CFX, CFX, CFX, CNW, CNW, CNW, CP, CP, CP, CSX, CSX, CSX, DHR, DHR, DHR, DOV, DOV, DOV, EMR, EMR, EMR, FDX, FDX, FDX, FSLR, FSLR, FSLR, GE, GE, GE, GWW, GWW, GWW, ABFS, ABFS, ABFSBofa/Merrill's multi-industry analyst is holding a conference call
Multi-Industrials Analyst Inch, along with Airfreight Analyst Hoexter, Solar Energy Analyst Osha, Auto Analyst Murphy, discuss the manufacturing landscape in the U.S. and the external factors which may continue to shift off-shore investing back to the U.S. on an Analyst/Industry conference call. Relevant covered companies ABFS, CFX, CNW, CP, CSX, DHR, DOV, EMR, FDX, FSLR, GE, GWW, HON, ITT, ITW, JASO, MG, MMM, MSM, ROK, SPW, TYC, UNP, UPS, WERN and YGE may be discussed on the Analyst/Industry conference call to be held on March 28 at 10 am.
News For ABFS;CFX;CNW;CP;CSX;DHR;DOV;EMR;FDX;FSLR;GE;GWW;HON;ITT;ITW;JASO;MG;MMM;MSM;ROK;SPW;TYC;UNP;UPS;WERN;YGE From The Last 14 Days
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January 25, 2016
09:34 EDTTYCTyco CEO says FY tracking as expected
Tyco (TYC) CEO George Oliver said that the company will provide further details of the company's results and guidance at Tyco's earnings conference call but the fiscal year is tracking as expected. Guidance provided during the Tyco and Johnson Controls (JCI) merger conference call.
09:31 EDTTYCTyco, Johnson Controls merger 'highly complimentary'
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09:19 EDTITWIllinois Tool Works to acquire EF&C business from ZF TRW for about $450M
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09:03 EDTTYCOn The Fly: Pre-market Movers
HIGHER: Tyco (TYC) and Johnson Controls (JCI), up 9% and 1%, respectively, after announcing a definitive merger agreement. Johnson Controls shareholders will own approximately 56% of the equity of the combined company, while current Tyco shareholders will own approximately 44%... SunEdison (SUNE), up 10% after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board... Affimed Therapeutics (AFMD), up 26% after entering a clinical research collaboration in immuno-oncology with Merck (MRK). UP AFTER EARNINGS: McDonald's (MCD), up 3%... LOWER: Twitter (TWTR), down 5% after its CEO Jack Dorsey confirmed in a tweet last night that several executives are departing the company. Media reports also indicate that, as part of its shake-up, Twitter intends to bring in two new members to its board as soon as this week... OncoMed (OMED), down 38% after an independent data safety monitoring board remarked on several findings regarding futility of the company's Phase 2 ALPINE clinical trial... Medivation (MDVN), down 7% after FDA places investigational new drug application for MDV9300 on partial clinical hold... International Paper (IP), down 4.8%, Packaging Corp. (PKG), down 4.8%, WestRock (WRK), down 6%, after Pulp & Paper Week reduced January kraftliner and corrugated medium prices... Caterpillar (CAT), down 4% after Goldman cuts rating to sell... Regeneron (REGN), down 3% after downgraded at Chardan to sell. DOWN AFTER EARNINGS: Kimberly-Clark (KMB), down 2.5%.
07:50 EDTTYCJohnson Controls and Tyco host conference call
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07:34 EDTCSX, UNPRailroad stocks look attractive, says RBC Capital
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07:08 EDTTYCTyco sees Q1 EPS ex-items 42c vs. previous 40c view
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07:08 EDTTYCJohnson Controls-Tyco company to have 11 directors
Following closing of the transaction, the board of the combined company is expected to have 11 directors, consisting of six directors from Johnson Controls and five directors from Tyco. Alex Molinaroli will be the Chairman and CEO of the combined company. George Oliver will serve as President and COO and serve as a director on the new board, with responsibility for the operating businesses and leading the integration. Molinaroli will serve as Chairman and CEO for a term of 18 months after the closing. At that time, Oliver will become CEO and Molinaroli will become executive chair for one year, after which Oliver will become chairman and CEO.
07:06 EDTTYCTyco to effect a reverse stock split prior to merger
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07:06 EDTTYCJohnson Controls-Tyco company to deliver at least $500M in synergies
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07:04 EDTTYCJohnson Controls and Tyco enter into definitive merger agreement
Johnson Controls (JCI) and Tyco (TYC) announced that they have entered into a definitive merger agreement under which Johnson Controls will combine with Tyco to create the leader in building products and technology, integrated solutions and energy storage. Under the terms of the agreement, which has been unanimously approved by both companies' boards, Johnson Controls shareholders will own approximately 56% of the equity of the combined company and receive aggregate cash consideration of approximately $3.9B. Current Tyco shareholders will own approximately 44% of the equity of the combined company. Under the terms of the proposed transaction, the businesses of Johnson Controls and Tyco will be combined under Tyco International plc, which will be renamed "Johnson Controls plc." The companies expect that shares of the combined company will be listed on the New York Stock Exchange and trade under the "JCI" ticker. Upon the closing of the transaction, the combined company is expected to maintain Tyco's Irish legal domicile and global headquarters in Cork, Ireland. The primary operational headquarters in North America for the combined company will be in Milwaukee, where Johnson Controls has been based. Pro forma for the transaction and separation of Adient, Johnson Controls is expected to have approximately $32 billion of revenue in fiscal year 2016 and $4.5 billion of EBITDA before synergies. Adient is expected to have approximately $16.6 billion of revenue in fiscal year 2016 and $1.6 billion of EBITDA. In addition, Adient is expected to distribute between $2.5 to $3.5 billion to Johnson Controls in conjunction with the spin-off.
07:02 EDTTYCJohnson Controls and Tyco enter into definitive merger agreement
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06:52 EDTTYCOther bidders could emerge for Tyco, says JPMorgan
After the Wall Street Journal reported that Johnson Controls (JCI) is in advanced talks to acquire with Tyco (TYC), JPMorgan analyst Stephen Tusa says other bidders could emerge. United Technologies (UTX) may have interest in Tyco and could likely extract more value than Johnson from the lower tax rate, Tusa tells investors in a research note. The analyst has an Overweight rating on Tyco with a $42 price target. The stock closed Friday up 61c to $30.60.
06:15 EDTGESamsung exec: Will consider M&A for home appliances unit, Reuters reports
Samsung (SSNLF) will mull all potential options to grow its home appliances unit including M&A, Reuters reports, citing comments from Samsung appliances head Suh Byung-sam in from of reporters at a company event. The executive said that Haier's (HRELY) acquisition of GE's (GE) appliances unit will have no serious effect on its business in the near term, the report says. Reference Link
06:10 EDTTYCJohnson Controls volatility flat into report in merger talks to acquire Tyco
Johnson Controls (JCI) February call option implied volatility is at 36, March is at 32; compared to its 52-week average of 18 to 49, suggesting non-directional price movement into the WSJ reporting its in advanced talks to acquire Tyco International (TYC) for as much as $20B.
05:51 EDTTYCOptions expected to be active: TYC JCI TWTR SUNE AAPL PG HAL AMZN FB
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January 24, 2016
20:21 EDTTYCOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Twitter (TWTR) could announce a significant executive upheaval Monday, with several product heads said to depart and a new Chief Marketing Officer reportedly stepping in. 2. Johnson Controls (JCI) and Tyco (TYC) are in advanced merger talks, according to the Wall Street Journal. 3. Airbus (EADSY) and Boeing (BA) saw mentions on the heels of Iran's aviation summit as the country eyes big orders to modernize its aging fleet after a lifting of sanctions. 4. SunEdison (SUNE) is set to give David Einhorn's Greenlight Capital a seat on its board, the Wall Street Journal reported. 5. International Paper (IP), Newell (NWL) and Houghton Mifflin (HMHC) were discussed positively by Barron's this weekend, while Chipotle (CMG) was warned against.
15:57 EDTGEGeneral Electric plans to request SIFI reconsideration in March, Bloomberg says
In a Bloomberg interview published Friday, General Electric CFO Jeff Bornstein said the company plans to request in March that its systemically important designation be removed, following the sale of its commercial lending assets and a Utah bank charter. Reference Link
13:17 EDTTYCJohnson Controls in advanced talks to combine with Tyco, WSJ says
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11:02 EDTGEStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
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