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Stock Market & Financial Investment News

News Breaks
February 19, 2014
10:00 EDTAPL, VAL, FSM, SMI, MERC, FRX, YOKU, SVLC, CA, SCTY, SM, CPN, CBNJ, CNW, DRC, ESS, KNX, NPSP, PKY, DGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Atlas Pipeline Partners (APL) downgraded to Equal Weight from Overweight at Barclays... Calpine (CPN) downgraded to Neutral from Buy at UBS... Cape Bancorp (CBNJ) downgraded to Neutral from Buy at Sterne Agee... Con-way (CNW) downgraded to Hold from Buy at Wunderlich... Dresser-Rand (DRC) downgraded to Equal Weight from Overweight at Morgan Stanley... Essex Property Trust (ESS) downgraded to Hold from Buy at Cantor... Knight Transportation (KNX) downgraded to Hold from Buy at Wunderlich... NPS Pharmaceuticals (NPSP) downgraded to Hold from Buy at Jefferies... Parkway Properties (PKY) downgraded to Market Perform from Outperform at BMO Capital... SM Energy (SM) downgraded to Hold from Buy at KeyBanc... SolarCity (SCTY) downgraded to Neutral from Outperform at RW Baird... Valspar (VAL) downgraded to Equal Weight from Overweight at First Analysis... Fortuna Silver Mines (FSM) downgraded to Sector Perform from Outperform at Scotia... Semiconductor Manufacturing (SMI) downgraded to Neutral from Overweight at JPMorgan... Mercer (MERC) downgraded to Reduce from Hold at TD Securities... Forest Labs (FRX) downgraded to Fair Value from Buy at CRT Capital... Youku Tudou (YOKU) downgraded to Sell from Hold at Maxim... SilverCrest (SVLC) downgraded to Neutral from Buy at Roth Capital... CA Technologies (CA) downgraded to Underperform from Market Perform at Cowen... Dollar General (DG) downgraded to Market Perform from Outperform at Wells Fargo.
News For APL;CPN;CBNJ;CNW;DRC;ESS;KNX;NPSP;PKY;SM;SCTY;VAL;FSM;SMI;MERC;FRX;YOKU;SVLC;CA;DG From The Last 14 Days
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September 22, 2014
06:49 EDTPKYParkway Properties files to sell 10M shares of common stock
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06:45 EDTDRCDresser-Rand volatility expected to move on Siemens acquiring for $7.6B
Dresser-Rand (DRC) volatility is expected to move on Siemens (SIEGY) acquiring for $83 per share in cash. Overall option implied volatility of 31 compares to its 26-week average of 31 according to Track Data, suggesting non-directional price movement.
06:41 EDTDRCSiemens bid prompts Sulzer to end discussions with Dresser-Rand, Reuters says
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September 21, 2014
20:07 EDTDRCDresser-Rand adopts shareholder rights plan
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20:06 EDTDRCSiemens acquires Dresser-Rand for $83 per share or $7.6B
Dresser-Rand (DRC) announced that it has entered into a definitive merger agreement with Siemens (SIEGY) under which Siemens will acquire all of the outstanding shares of Dresser-Rand common stock for $83.00 per share in cash. The transaction is valued at approximately $7.6B, including the assumption of debt. The price represents a premium of 37.4% over Dresser-Rand's closing share price of $60.42 on July 16, 2014, the day before speculation in the press appeared regarding interest in Dresser-Rand. Additional per share cash consideration of 55c shall be applied on the first day of each month starting March 1, 2015, until the closing occurs. Siemens intends to operate Dresser-Rand as the company's oil and gas business retaining the Dresser-Rand brand name and its executive leadership team. The transaction is expected to close in the summer of 2015 and is subject to Dresser-Rand shareholder approval, regulatory approval in the U.S., Europe and certain other jurisdictions, and other customary closing conditions. Shares of Dresser-Rand closed Friday up $6.88 to $79.91.
20:00 EDTDRCDresser-Rand sells to Siemens for $83 per share or $7.6B
15:45 EDTDRCSiemens near deal to buy Dresser-Rand, Reuters says
The German industrial conglomerate Siemens (SIEGY) is close to forming an all cash deal to buy U.S. oilfield equipment maker Dresser-Rand Group (DRC), says Reuters, citing sources. Siemens is expected to pay in the low-to mid-$80s per share for Dresser-Rand and a deal may be announced as early as Monday, added Reuters. Reference Link
September 19, 2014
17:10 EDTDRCGeneral Electric considers deal with Dresser-Rand, FT reports
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16:25 EDTDRCGeneral Electric said in talks with Dresser-Rand on potential deal, FT reports
16:17 EDTDRCOn The Fly: Closing Wrap
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12:40 EDTDRCOn The Fly: Midday Wrap
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10:48 EDTCAOracle tumbles after Q1 earnings miss estimates, Ellison steps aside as CEO
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09:56 EDTDRCDresser-Rand downgraded to Sell from Buy at Gabelli
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09:19 EDTDRCOn The Fly: Pre-market Movers
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07:43 EDTDRCDresser-Rand volatility expected to move on Siemens is preparing offer report
Dresser-Rand (DRC) volatility is expected to move on Siemens (SIEGY) is preparing to offer more than $6.5B, or at least $85 per share, Bloomberg reports, citing people familiar with the plan. Overall option implied volatility of 38 compares to its 26-week average of 31 according to Track Data, suggesting large price movement.
06:44 EDTDRCSiemens preparing at least $85/share bid for Dresser-Rand, Bloomberg says
Siemens (SIEGY) is preparing to offer more than $6.5B, or at least $85 per share, for Dresser-Rand (DRC), Bloomberg reports, citing people familiar with the plan. Siemens is looking to offer a competing bid to Sulzer's for Dresser-Rand. Germany's Sulzer confirmed it was in takeover talks with Dresser-Rand on Wednesday. Siemensís supervisory board could vote on whether to submit a formal bid at a September 24 meeting, Bloomberg added, citing a source. Shares of Dresser-Rand closed yesterday up 22c to $73.03. Analysts at William Blair yesterday said the company could be worth in the upper $80's to $100 per share in a takeover.
06:40 EDTKNXRegulator sued over truck training requirements, NY Times reports
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06:35 EDTDRCReport says Siemens planning Dresser-Rand bid, Reuters says
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September 18, 2014
10:27 EDTNPSPOptions with decreasing implied volatility
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07:16 EDTDRCDresser-Rand could be worth upper $80s to $100 in deal, says William Blair
William Blair raised its price target for Dresser-Rand shares to $82 from $70 citing increasingly likelihood of a merger transaction after Sulzer confirmed itís in talks to acquire the company. The firm believes a deal, should it occur, could bring upside to its new target. William Blair says its initial accretion analysis for a combined Dresser-Rand and Sulzer yields valuations for Dresser shares in the upper $80's to $100 range. It keeps an Outperform rating on the stock. Dresser closed yesterday up 7%, or $4.93, to $72.81.
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