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November 30, 2012
09:59 EDTRY, WAC, LMT, CAG, BRO, ULTA, HMSY, CBM, KUB, STJ, DFT, ACTV, BELFBOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Active Network (ACTV) upgraded to Buy from Underperform at BofA/Merrill... Bel Fuse (BELFB) upgraded to Buy from Hold at Needham... Cambrex (CBM) upgraded to Buy from Neutral at Longbow... ConAgra (CAG) upgraded to Buy from Hold at Jefferies... DuPont Fabros (DFT) upgraded to Outperform from Sector Perform at RBC Capital... HMS Holdings (HMSY) upgraded to Buy from Hold at Jefferies... Lockheed Martin (LMT) upgraded to Fair Value from Sell at CRT Capital... St. Jude Medical (STJ) upgraded to Buy from Neutral at Mizuho... Ulta Salon (ULTA) upgraded to Outperform from Market Perform at Wells Fargo... Walter Investment (WAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Kubota Limited (KUB) upgraded to Buy from Neutral at BofA/Merrill... Brown & Brown (BRO) upgraded to Outperform from Neutral at Macquarie... Royal Bank of Canada (RY) upgraded to Outperform from Neutral at Macquarie.
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October 5, 2015
07:16 EDTDFTRBC Capital to hold a tour
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06:21 EDTSTJSt. Jude Medical warning letter doesn't look that bad, says Deutsche Bank
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06:08 EDTWACWalter Investment appoints Denmar Dixon as CEO
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October 4, 2015
18:51 EDTCAGConAgra CEO targeting supply chain efficiency, WSJ says
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15:04 EDTLMTThales in talks to provide light armored vehicles for Australia, WSJ says
Australia is in advanced talks to purchase a number of Hawkei light armored vehicles from French defense firm Thales, reports the Wall Street journal, citing two people familiar with the matter. Companies in the space include BAE Systems (BAESY), Lockheed Martin (LMT), and Oshkosh (OSK). Reference Link
October 2, 2015
18:41 EDTLMTLockheed Martin weighs merger of services units with competitor, Reuters says
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17:33 EDTSTJSt. Jude Medical receives FDA warning letter specific to Atlanta facility
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08:01 EDTCAGCiti likes TreeHouse with or without ConAgra unit deal
Citi analyst David Driscoll believes TreeHouse (THS) is a "compelling" investment with or without the acquisition of ConAgra's (CAG) $4B Private Brands unit. Investors are waiting to see if TreeHouse will acquire the unit, the analyst tells investors in a research note. Driscoll sees TreeHouse as the most logical buyer but sees "strong" organic growth for the company regardless. He keeps a Buy rating on TreeHouse with an $86 price target.
October 1, 2015
19:24 EDTCAGVornado leases 168,000 sq ft at theMART in Chicago to ConAgra
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17:25 EDTLMTLockheed Martin knocked out of NASA delivery competition, WSJ says
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08:00 EDTCAGConAgra says restructuring to result in elimination of approx. 1,500 jobs
07:34 EDTCAGConAgra relocates headquarters to Chicago
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07:34 EDTCAGConAgra announces $300M efficiency plan
ConAgra announced restructuring plans to improve profitability, advance its growth agenda and unlock shareholder value. ConAgra Foods expects to realize at least $300M of efficiency benefits within the next three years through a combination of reductions in SG&A and enhancements to trade spend processes and tools. Cost savings of approximately $200M are expected to be derived from a combination of lower headcount and non-headcount costs which will be achieved by aggressively embracing zero-based budgeting, simplifying organizational structure by increasing spans of control and reducing layers, and outsourcing technology and back office functions to improve scalability. Additionally, the company expects to realize approximately $100M of efficiency benefits from enhancements to trade spend processes and tools. The company expects the plan to provide a modest benefit to fiscal year 2016 earnings. More than half the savings are anticipated to be realized by the end of fiscal year 2017 with the balance achieved in fiscal year 2018. These savings are in addition to the approximately $150M in cost reductions achieved by the company over the past two years and are expected to enhance the company's cost-competitiveness, margins and agility, while also providing fuel for future brand-building and innovation initiatives. The restructuring is expected to result in the elimination of approximately 1,500 positions or approximately 30% of the company's global office-based workforce, and excludes any impact from the planned divestiture of the private label operations. Plant positions will not be eliminated in connection with this restructuring. ConAgra Foods estimates it will incur total non-recurring charges of approximately $345 million, substantially all of which are expected to be cash charges, over the next two to three years in connection with the restructuring.
September 30, 2015
19:57 EDTLMTDoD concerned about 'excessive consolidation' after Lockheed-Sikorsky deal
Frank Kendall, the Under Secretary of Defense for Acquisition, Technology and Logistics, said in a statement earlier Wednesday that alluded to Lockheed Martin's (LMT) acquisition of United Technology's (UTX) Sikorsky unit, "With size comes power, and the department's experience with large defense contractors is that they are not hesitant to use this power for corporate advantage." Kendall added that the DoD would work with Congress to "explore additional legal tools and policy to preserve the diversity and spirit of innovation that have been central to the health and strength of our unique, strategic defense industrial base, particularly at the prime contractor level." Reacting to Kendall's statement, Lockheed spokesman Dan Nelson said, "There is no evidence to support the view that larger defense companies reduce competition or inhibit innovation... We believe that defense contractors should continue to be assessed based on the performance and effectiveness of the products and solutions offered, not on the size of their company."
18:07 EDTSTJS&P announces changes to the S&P 400, 500 indices
S&P 500 constituent Joy Global (JOY) will replace Thoratec (THOR) in the S&P MidCap 400, and Verisk Analytics (VRSK) will replace Joy Global in the S&P 500 after the close of trading on Wednesday, October 7. S&P 500 constituent St. Jude Medical (STJ) is acquiring Thoratec in a deal expected to be completed on or about that date, pending final approvals. Joy Global has a market capitalization more representative of the mid-cap market space.
17:49 EDTLMTLockheed Martin awarded $392.02M government contract
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06:51 EDTLMTUnited Launch Alliance wins $882M contract with U.S. Air Force, Reuters says
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September 29, 2015
16:34 EDTDFTDuPont Fabros announces over $2B invested in Ashburn, Virginia
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12:26 EDTCAGConAgra names David Biegger as Chief Supply Chain Officer
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09:33 EDTULTAULTA Beauty downgraded to Peer Perform from Outperform at Wolfe Research
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