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Stock Market & Financial Investment News

News Breaks
June 3, 2014
10:03 EDTTSLX, OXLC, KOS, CLVS, BRCM, GRA, ZQK, OIS, HEINY, CNC, AGN, TPLM, PHH, MWV, DANOY, CSH, AEISOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Hold from Buy at Needham... Allergan (AGN) downgraded to Neutral from Outperform at Credit Suisse... Broadcom (BRCM) downgraded at Stifel... Cash America (CSH) downgraded to Neutral at Janney Capital... Centene (CNC) downgraded to Sell from Neutral at Citigroup... Clovis (CLVS) downgraded to Neutral from Buy at Citigroup... Danone (DANOY) downgraded to Sell from Neutral at Goldman... Heineken (HEINY) downgraded to Sell from Neutral at Goldman... Kosmos (KOS) downgraded to Neutral from Accumulate at Global Hunter... MeadWestvaco (MWV) downgraded to Neutral from Buy at Buckingham... Oil States (OIS) downgraded to Neutral from Positive at Susquehanna... Oxford Lane (OXLC) downgraded to Neutral from Buy at Ladenburg... PHH Corp. (PHH) downgraded to Neutral from Buy at Compass Point... Quiksilver (ZQK) downgraded at Monness Crespi... TPG Specialty Lending (TSLX) downgraded to Market Perform at Wells Fargo... Triangle Petroleum (TPLM) downgraded to Neutral from Buy at Global Hunter... W.R. Grace (GRA) downgraded to Buy from Conviction Buy at Goldman.
News For AEIS;AGN;BRCM;CSH;CNC;CLVS;DANOY;HEINY;KOS;MWV;OIS;OXLC;PHH;ZQK;TSLX;TPLM;GRA From The Last 14 Days
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January 27, 2015
06:21 EDTMWVGraphic Packaging, Packaging Corp. could be targets, says Citigroup
Citigroup believes the merger between Rock-Tenn (RKT) and MeadWestvaco (MWV) makes sense and that the combined company has 16% upside potential from current levels. Citi believes the $300M synergy target could prove conservative and raised its price target for Rock-Tenn shares to $77 from $72. It thinks smaller players in the Paper & Forest products space, Graphic Packaging (GPK) and Packaging Corp. (PKG), could be potential takeover targets either for an acquirer or for a merger following the Rock-Tenn/MeadWestvaco deal. Citi views International Paper (IP) as a potential acquirer.
January 26, 2015
17:34 EDTAGNActavis registration statement for Allergan acquisition declared effective
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16:39 EDTMWVOn The Fly: Closing Wrap
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13:10 EDTCLVSOppenheimer reports 5.23% passive stake in Clovis
12:39 EDTCNCHHS Secretary orders Medicare to change payment method, WSJ says
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12:23 EDTMWVOn The Fly: Midday Wrap
Stocks on Wall Street opened lower and hit their session lows a short time after the opening bell rang. In addition to some jitters about a vote in Greece, investors were focused on the massive impending winter storm set to hit the Northeast. With weather pundits expecting the snowfall in feet rather than inches, a number of companies have already rescheduled their earnings announcements. The market was mixed at midday, with the Dow and Nasdaq a bit lower and the S&P up fractionally. ECONOMIC EVENTS: In the U.S., the Dallas Fed manufacturing index fell 8.5 points to -4.4 in January, versus the consensus forecast for a reading of 4.0. In Europe, Greece's far-left Syriza party swept to power, renewing concerns about the country's future as a member of the Eurozone. COMPANY NEWS: Today was a "merger Monday," with at least four deals worth more than $1B announced. Energy Transfer Partners (ETP) announced plans to acquire Regency Energy Partners (RGP) in an $18B unit-for-unit transaction that includes assuming $6.8B of net debt and other liabilities. Rock-Tenn (RKT) and MeadWestvaco (MWV) agreed to merge to create a consumer and corrugated packaging company with a combined equity value of $16B. Under the terms of the deal, the resulting ownership of the new company will be approximately 50.1% by MWV shareholders and 49.9% by RockTenn shareholders. AXIS Capital (AXS) and PartnerRe (PRE) announced a "merger of equals" that will create a specialty insurance and reinsurance company with total capital of more than $14B and cash and invested assets of more than $33B. Additionally, cereal maker Post Holdings (POST) agreed to pay $1.15B in cash and stock to buy privately-held MOM Brands, which makes Malt-O-Meal and other breakfast products. MAJOR MOVERS: Among the notable gainers was Universal Display (OLED), which gained 11% after the company announced the signing of a new OLED technology license agreement and material purchase pact with LG Display (LPL). Also higher was Ocwen Financial (OCN), which rose 17% after the California Department of Business Oversight announced a $2.5M settlement with Ocwen Loan Servicing on Friday evening over the firms failure for more than a year to provide loan information needed by the DBO to assess compliance with state mortgage lending laws. Also of note, Ocwen denied any basis for default under trust agreements that had been alleged by certain hedge funds and other RMBS investors to trustees and master servicers in connection with 119 RMBS trusts, which are serviced by Ocwen. Among the noteworthy losers was Brookdale Senior Living (BKD), which dropped 8% after the company lowered its forecast for FY15 Cash From Facility Operations, citing a combination of lower than expected occupancy and certain higher-than-anticipated insurance reserve adjustments. Also lower following its earnings reports was hard disk-drive maker Seagate (STX), which fell about 9%. INDEXES: Near midday, the Dow was down 1.41, or 0.01%, to 17,671.19, the Nasdaq was down 4.02, or 0.08%, to 4,753.86, and the S&P 500 was up 2.34, or 0.11%, to 2,054.16.
09:19 EDTMWVOn The Fly: Pre-market Movers
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08:15 EDTMWVMeadWestvaco to hold a conference call
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06:03 EDTMWVRockTenn and MeadWestvaco agree to combination agreement
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06:03 EDTCNCCentene to acquire Agate Resources
Centene announced that it has signed a definitive agreement to acquire Agate Resources, a diversified holding company that offers an array of healthcare products and services to Oregon residents. Agate is based in Eugene, Oregon. Trillium Community Health Plan, Inc., a subsidiary of Agate, participates in Oregon's Coordinated Care Organization model to provide Medicaid services to Oregon Health Plan members in Lane County, Oregon. Trillium also provides coverage to Medicare beneficiaries through a Medicare Advantage plan and participates on the Cover Oregon health insurance marketplace. Terry Coplin, the CEO of Agate, and the existing management team will continue to lead the local operations of Agate. The transaction is expected to close in Q3, subject to customary closing conditions, including Oregon regulatory approval. The deal is expected to be accretive to EPS in the first twelve months following close.
06:01 EDTMWVRockTenn, MeadWestvaco to combine in transaction with combined equity of $16B
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05:59 EDTMWVMeadWestvaco reports Q4 EBITDA up 18% to $246
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05:58 EDTMWVMeadWestvaco reports Q4 EPS excl items 46c, consensus 45c
Reports Q4 revenue $1.37B, consensus $1.35B
January 23, 2015
08:19 EDTMWVBofA/Merrill paper/forest products analyst hold analyst/industry conference call
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January 22, 2015
10:01 EDTMWVMeadWestvaco agrees to sell European tobacco folding carton business
MeadWestvaco announced it has signed a definitive agreement to sell its European-based tobacco folding carton business to AR Packaging Group AB, a maker of paperboard cartons, flexible packaging, and trays based in Lund, Sweden. The business has annual revenue of approximately $190M, which is included in MWVs Food & Beverage segment. Terms of the agreement were not disclosed, and the transaction is expected to be completed in the next several months. Also included in the sale is the tobacco and confectionery folding carton business currently served by MWVs plant in Svitavy, Czech Republic. The Svitavy plant will remain part of MWV beyond the transition period.
January 21, 2015
12:30 EDTAGNGlaxoSmithKline 'admired' by Pfizer CEO, FT reports
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07:22 EDTAGNActavis price target raised to $330 from $280 at Deutsche Bank
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January 20, 2015
11:33 EDTDANOYLifeway Foods in talks with bankers to explore sale, NY Post reports
Lifeway Foods (LWAY) is in talks with investment bankers about a potential sale, according to The New York Post, which added that Danone (DANOY), which holds a 20% stake in Lifeway, isnt interested in buying the company but cannot stop a sale. Reference Link
10:06 EDTGRAHigh option volume stocks
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January 16, 2015
10:47 EDTCNCBofA/Merrill healthcare facilities analyst analyst/industry conference call
Healthcare Facilities & Managed Care Analyst Bressler discusses the legislative and regulatory outlook for the industry for 2015 on an Analyst/Industry conference call to be held on January 23 at 2 pm.
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