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Stock Market & Financial Investment News

News Breaks
December 11, 2012
09:15 EDTSOMX, TNS, DG, SPW, PTX, AIG, GDIOn The Fly: Pre-market Movers
HIGHER AFTER ACQUISITIONS: Somaxon Pharmaceuticals (SOMX), up 103%, to be acquired by Pernix Therapeutics (PTX) in a stock-for-stock deal... TNS (TNS), up 45%, to be acquired by Siris Capital for $21/share in cash... ALSO HIGHER: Gardner Denver (GDI), up 4.3% after Reuters says company in exclusive buyout talks with SPX Corp. (SPW)... AIG (AIG), up 2.7% after Treasury offers remaining stake for sale... LOWER AFTER EARNINGS: Dollar General (DG), down 2%... ALSO LOWER: SPX Corp., down 6.3% after Reuters report of potential purchase of GDI.
News For AIG;DG;SOMX;PTX;TNS;GDI;SPW From The Last 14 Days
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April 24, 2014
09:02 EDTAIGAIG announces partnership between AGL, Market Synergy Group
American International Group announced that American General Life Insurance Company has partnered with Market Synergy Group to offer enhanced index annuity solutions.
April 23, 2014
10:37 EDTAIGILFC and Azul Brazilian Arilines sign agreement to lease aircraft
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April 11, 2014
08:31 EDTSPWSPX Corp. announces sale of SPX Precision Components
SPX Corporation announced it has completed the sale of its Precision Components business to RFE Investment Partners and 24/6 Capital Partners for approximately $62M. Precision Components is an aerospace and defense manufacturer that provides engineered components and other parts to military and civilian aircraft programs. In SPX's most recent financial filings, the results of Precision Components were reported as discontinued operations for all periods presented. Loop Capital Markets LLC acted as a financial advisor to SPX on the transaction.
April 10, 2014
13:14 EDTDGFamily Dollar slides after holiday disappointment prompts store closures
Shares of discount retailer Family Dollar (FDO) are falling after the company reported second quarter earnings per share and revenue that fell below expectations, along with third quarter and FY14 projections that are lower than analysts' consensus. WHAT'S NEW: This morning, Family Dollar reported second quarter earnings per share of 80c, which fell below analysts consensus of 90c. The company reported second quarter revenue of $2.72B, while analysts projected $2.77B. Family Dollar, which reported that its second quarter same-store-sales decreased by 3.8%, said the holiday season was challenged by "a more promotional competitive environment and a more financially constrained consumer" and that its results were also significantly impacted by severe winter weather like many retailers. The company expects third quarter earnings per share excluding-items to be 85c-95c, while analysts project a 98c consensus. Family Dollar said that it sees FY14 earnings per share excluding items to be $3.05-$3.25, which is at the lower end of analysts' estimations. Family Dollar noted that it expects to close nearly 370 underperforming stores in the second half of FY14 and slow new store growth beginning in FY15. WHAT'S NOTABLE: During Family Dollar's earnings conference call, the company said that it plans to slow square footage growth in the beginning of FY14 and said that it recently cut about 10% of its corporate workforce. ANALYST OPINION: Wells Fargo analyst Matt Nemer said Family Dollar's third quarter negative comp guidance and commentary about a challenging macro environment could pressure its own shares as well as those of its peers Dollar General (DG) and Dollar Tree (DLTR). However, Family Dollar's store closures combined with a decrease in future store growth could ultimately have positive implications for its competitors, Nemer added. On March 4, Credit Suisse said Family Dollar's underperformance compared to Dollar General and significant earnings possibilities gives the rationale for a potential merger of the two. On February 19, Credit Suisse analyst Michael Exstein suggested that Wal-Mart (WMT) should consider acquiring Family Dollar as a way to "jumpstart" its small store effort. CNBC's David Faber reported the same morning that Exstein published his note that Family Dollar was not holding any talks about selling itself at that time. PRICE ACTION: During afternoon trading, shares of Family Dollar decreased $1.54, or 2.61%, to $57.53, Dollar Tree dropped 2.5%, and Dollar General fell about 1.5%.

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