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Stock Market & Financial Investment News

News Breaks
October 22, 2012
10:01 EDTSLG, KSU, EW, TLM, PEG, EQR, WAL, SNDK, MTW, EPB, CP, CLF, APD, XRAY, BXS, DDR, BBTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Air Products (APD) downgraded to Neutral from Buy at BofA/Merrill... BB&T (BBT) downgraded to Neutral from Buy at Sterne Agee... BancorpSouth (BXS) downgraded to Neutral from Buy at SunTrust... Cliffs Natural (CLF) downgraded to Hold from Buy at Deutsche Bank... DDR Corp. (DDR) downgraded to Neutral from Buy at UBS... Dentsply (XRAY) downgraded to Sell from Neutral at UBS... Edwards Lifesciences (EW) downgraded to Neutral from Buy at Citigroup... El Paso Pipeline (EPB) downgraded to Market Perform from Outperform at Wells Fargo... Equity Residential (EQR) downgraded to Sell from Neutral at Goldman... Kansas City Southern (KSU) downgraded to Hold from Buy at BB&T... Manitowoc (MTW) downgraded to Neutral from Buy at Goldman... PSEG (PEG) downgraded to Underperform from Neutral at Credit Suisse... SL Green Realty (SLG) downgraded to Hold from Buy at ISI Group... SanDisk (SNDK) downgraded to Sector Perform from Outperform at RBC Capital... Talisman Energy (TLM) downgraded to Hold from Buy at Canaccord... Canadian Pacific (CP) downgraded to Market Perform from Outperform at BMO Capital... Western Alliance (WAL) downgraded to Neutral from Outperform at Macquarie.
News For APD;BBT;BXS;CLF;DDR;XRAY;EW;EPB;EQR;KSU;MTW;PEG;SLG;SNDK;TLM;CP;WAL From The Last 14 Days
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November 12, 2014
07:53 EDTBBTBB&T to host conference call
Conference call to discuss acquisition of Susquehanna Bancshares will be held on November 12 at 8:30 am. Webcast Link
07:04 EDTBBTBB&T to acquire Susquehanna Bancshares for approximately $2.5B
BB&T (BBT) and Susquehanna (SUSQ) announced the signing of a definitive agreement under which BB&T will acquire Susquehanna in a cash and stock transaction for total consideration valued at approximately $2.5B.In connection with the acquisition, BB&T plans to establish three new banking regions encompassing certain markets in Pennsylvania and New Jersey. BB&T also plans to integrate its Baltimore region with Susquehanna's. These four regions are expected to be led by legacy Susquehanna executives. Under the terms of the agreement, which was approved by the boards of each company, shareholders of Susquehanna will receive as merger consideration 0.253 shares of BB&T common stock and $4.05 in cash for each share of Susquehanna common stock. The merger consideration is valued at $13.50 per share based on the average closing price of BB&T over the 45 trading days ending on November 10, 2014. BB&T expects to incur pre-tax merger and integration costs of approximately $250M and expects to achieve annual cost savings of approximately $160M. BB&T expects this acquisition to be accretive to earnings per share in the first full year excluding one-time charges and expects the transaction to exceed its IRR hurdle. This acquisition is subject to customary closing conditions including regulatory approvals and approval of Susquehanna shareholders.
07:02 EDTBBTBB&T to acquire Susquehanna Bancshares for approximately $2.5B
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November 11, 2014
16:13 EDTSLGSL Green Realty initiated with an Underperform at Credit Suisse
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16:10 EDTDDRDDR Corp. initiated with a Neutral at Credit Suisse
Target $19.
16:10 EDTEQREquity Residential initiated with a Neutral at Credit Suisse
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09:59 EDTCLFCliffs Natural calls active
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09:50 EDTCLFRumor: Cliffs Natural moves up on renewed takeover chatter
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November 10, 2014
15:55 EDTSNDKNeedham to hold a conference
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15:51 EDTAPDMorgan Stanley to hold a conference
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14:45 EDTXRAYDENTSPLY management to meet with Jefferies
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09:20 EDTCLFNucor unlikely to partner on Cliffs Natural asset, says Bernstein
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09:05 EDTEPBKinder Morgan says ISS, Egan-Jones recommend approval of merger transactions
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07:23 EDTSNDKRBC Capital to hold a conference
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November 7, 2014
10:00 EDTTLM, EW, BBTOn The Fly: Analyst Downgrade Summary
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09:19 EDTTLMTalisman Energy downgraded to Hold from Accumulate at Tudor Pickering
08:08 EDTCPAckman says Canadian Pacific may pursue alternate M&A target, Bloomberg reports
Bill Ackman said Canadian Pacific (CP) may be interested in going after an alternate takeover target now that CSX Corp. (CSX) has rejected its overtures, and though Ackman did not name Norfolk Southern (NSC), his remarks yesterday at the Invest for Kids conference pointed toward that as the company he was discussing, according to Bloomberg. Norfolk Southern gained 0.85% yesterday to close at $110.72 and is up another 3.5% to $114.55 in pre-market trading this morning. Reference Link
06:44 EDTEWEdwards Lifesciences downgraded to Neutral from Buy at Sterne Agee
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06:13 EDTBBTBB&T downgraded to Neutral from Buy at Citigroup
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November 6, 2014
17:36 EDTCPAckman says Canadian Pacific may consider merger with CSX rival, Bloomberg says
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