New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 15, 2014
10:01 EDTZMH, TWTR, NMBL, PKY, PTX, RRC, RGC, SRC, STLD, MIDD, MILL, BP, BNCL, ENLK, GTIV, HPY, JHX, KMI, LLL, ACXMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Acxiom (ACXM) upgraded to Market Perform from Underperform at BMO Capital... BP (BP) upgraded to Outperform from Sector Perform at RBC Capital... Beneficial Mutual (BNCL) upgraded to Outperform from Neutral at Boenning & Scattergood... EnLink Midstream (ENLK) upgraded at Oppenheimer... Gentiva Health (GTIV) upgraded to Market Perform from Underperform at Raymond James... Heartland Payment (HPY) upgraded to Outperform from Neutral at RW Baird... James Hardie (JHX) upgraded to Overweight from Equal Weight at Morgan Stanley... Kinder Morgan (KMI) upgraded to Conviction Buy from Buy at Goldman... L-3 Communications (LLL) upgraded to Buy from Underperform at BofA/Merrill... Middleby (MIDD) upgraded to Buy from Hold at BB&T... Miller Energy (MILL) assumed with a Buy from Hold at Brean Capital... Nimble Storage (NMBL) upgraded to Buy from Neutral at Goldman... Parkway Properties (PKY) upgraded at Stifel... Pernix Therapeutics (PTX) upgraded at Needham... Plug Power (PLUG) upgraded at Cowen... Range Resources (RRC) upgraded to Conviction Buy from Neutral at Goldman... Regal Entertainment (RGC) upgraded to Buy from Hold at Topeka... Spirit Realty (SRC) upgraded to Buy from Neutral at Ladenburg... Steel Dynamics (STLD) upgraded to Outperform from Market Perform at Cowen... Twitter (TWTR) upgraded to Neutral from Underweight at Atlantic Equities... Zimmer (ZMH) upgraded to Buy from Neutral at SunTrust.
News For ACXM;BP;BNCL;ENLK;GTIV;HPY;JHX;KMI;LLL;MILL;MIDD;NMBL;PKY;PTX;RRC;RGC;SRC;STLD;TWTR;ZMH From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | all recent news | >>
October 9, 2014
16:59 EDTNMBLJefferies initiates IT Hardware space, names Western Digital top pick
Subscribe for More Information
16:53 EDTLLLPointState Capital reports 6.0% passive stake in L-3 Communications
Subscribe for More Information
16:25 EDTGTIVOn The Fly: Closing Wrap
Subscribe for More Information
16:22 EDTNMBLNimble Storage initiated with a Buy at Jefferies
Subscribe for More Information
16:00 EDTTWTROptions Update; October 9, 2014
Subscribe for More Information
13:16 EDTTWTRTwitter November volatility elevated
Subscribe for More Information
12:30 EDTGTIVOn The Fly: Midday Wrap
Subscribe for More Information
11:17 EDTNMBLNimble Storage management to meet with Oppenheimer
Subscribe for More Information
09:38 EDTTWTRActive equity options trading on open
Subscribe for More Information
09:35 EDTGTIVKindred Healthcare sees Gentiva deal closing in 1Q15
Subscribe for More Information
08:46 EDTGTIVKindred sees 'significant,' 'achievable' synergies from Gentiva deal
Kindred (KND) says it expects to issue in aggregate $620M-$720M of equity to maintain reasonable leverage. Says will issue Gentiva (GTIV) shareholders $200M in Kindred stock as part of purchase consideration, plans to raise $200M-$300M in equity and/or mandatory convertible securities between announcement and close. Says integration teams assembled, ready to be deployed immediately upon closing. Comments from slides that will be presented on Kindred's conference call discussing the proposed acquisition of Gentiva.
08:45 EDTGTIVGentiva volatility low into being acquired by Kindred for $1.8B
Subscribe for More Information
08:38 EDTGTIVKindred volatility flat into acquiring Gentiva for $1.8B
Subscribe for More Information
08:27 EDTGTIVKindred sees Gentiva deal immediately and significantly accretive
Kindred (KND) expects the acquisition of Gentiva (GTIV) will be immediately and significantly accretive to earnings and operating cash flows, exclusive of transaction and integration costs. Kindred expects the acquisition to be approximately 40c-60c accretive to pro forma earnings, and pro forma operating cash flows of $350 million to $400 million, both on a run rate basis, once Gentiva is fully integrated and expected synergies are fully realized in the second full year following the closing. On this same basis, following the combined company’s expected annual maintenance capital expenditures of $120 million to $130 million, Kindred expects pro forma cash flows of $230 million to $270 million. Kindred has identified approximately $70 million of annual cost and operating synergies and expects to achieve the full run rate within two years of closing, of which approximately $35 million is expected to be achieved in the first year following the closing. Kindred expects the majority of cost synergies to be achieved through combining information technology functions, merging supply chains and eliminating redundant public company expenses. In addition, Kindred expects to realize revenue synergies that will improve patient care transitions and choice, and drive volume growth as a result of cross-selling across the combined service platform. Kindred expects annual run rate revenue synergies of more than $60 million over time, with approximately $20 million to $30 million achievable in the first full year following the closing.
08:26 EDTGTIVKindred Healthcare says combined company to operate in 47 states
Subscribe for More Information
08:25 EDTGTIVKindred to acquire Gentiva for $19.50 per share in cash and stock, or $1.8B
Kindred Healthcare (KND) and Gentiva Health Services (GTIV) announced that the companies have entered into a definitive merger agreement under which Kindred will acquire all of the outstanding shares of Gentiva common stock for $19.50 per share in a combination of cash and stock. The agreement was unanimously approved by the boards of directors of both companies. Under the terms of the agreement, Gentiva shareholders will receive $14.50 per share in cash and $5.00 of Kindred common stock. The transaction is valued at $1.8 billion, including the assumption of net debt. The companies expect the closing of the transaction to occur in the first quarter of 2015. The combined company will: Employ approximately 109,000 individuals, making it the 78th largest private employer and the 4th largest healthcare employer in the United States; Deliver pro forma annual revenues of approximately $7.1 billion; and Generate pro forma operating income, including expected cost synergies, of $1.0 billion. Paul J. Diaz, CEO of Kindred, said, “Over the last eight weeks, we undertook a robust due diligence process and worked closely and constructively with our counterparts at Gentiva to better understand their operations, financial results and outlook. This process confirmed the compelling strategic rationale and industrial logic of this combination, as well as our belief that this transaction is in the best interests of both companies and our respective shareholders, patients, employees and business partners." Kindred has obtained committed financing from Citi and J.P. Morgan in connection with the pending transaction. Subject to market and other conditions, the Company expects to finance the acquisition of Gentiva and associated costs through the issuance of $200 million to $300 million of common stock and mandatory convertible equity securities and $1.3 billion to $1.4 billion of unsecured notes prior to the closing of the acquisition. The Company expects to fund the remaining amounts through its existing line of credit. Following completion of the transaction, Kindred expects to have approximately 85 million fully diluted shares outstanding, comprised primarily of approximately 64 million shares outstanding today, approximately 10 million shares to be issued to Gentiva as part of the transaction consideration, and approximately nine million to 12 million shares associated with the expected offering of common stock and mandatory convertible equity securities. The Gentiva acquisition is subject to certain conditions, including the approval by the stockholders of Gentiva. Kindred and Gentiva have already received clearance for the transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
08:23 EDTGTIVKindred to acquire Gentiva for $19.50 per share in cash and stock
Subscribe for More Information
08:06 EDTSRCDiversified Restaurant announces sale leaseback agreement with Spirit Realty
Subscribe for More Information
07:31 EDTSRCUBS to hold a tour
Subscribe for More Information
06:18 EDTZMHBiomet reports Q1 sales up 6% to $775M
Subscribe for More Information
1 | 2 | 3 | 4 | 5 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use