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Stock Market & Financial Investment News

News Breaks
February 11, 2013
17:20 EDTARRSArris receives second request regarding acquisition of Motorola home business
Arris (ARRS) announced that Arris and Google (GOOG) have received a request for additional information and documentary materials from the Department of Justice regarding Arris' proposed acquisition of the Motorola Home business from Google. The information request was issued in conjunction with the DOJ's review of the transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The effect of the Second Request is to extend the waiting period imposed by the HSR Act until 30 days after each company has substantially complied with the Second Request, unless that period is extended voluntarily by the companies or terminated sooner by the DOJ. ARRIS noted that both companies intend to respond to the information request as quickly as practicable and continue to work cooperatively with the DOJ in connection with its review. ARRIS believes the transaction is pro-competitive and will create compelling new opportunities for its customers and partners worldwide. Close scrutiny is typical in transactions of this size. Completion of the transaction remains subject to the expiration or termination of the waiting period under the HSR Act, the satisfaction of similar requirements in certain foreign countries, and satisfaction of other customary closing conditions. ARRIS continues to anticipate the transaction will close in Q2, and will provide regular updates to the market.
News For ARRS From The Last 14 Days
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October 31, 2014
10:27 EDTARRSARRIS management to meet with Stephens
Meetings to be held in the Mid-Atlantic area on November 4 and in Boston on November 5 hosted by Stephens.
October 30, 2014
07:45 EDTARRSARRIS should be bought, says RBC Capital
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07:32 EDTARRSARRIS guidance not as bad as feared, says Jefferies
Jefferies believes ARRIS' below consensus guidance for Q4 is not as bad as feared. The firm says it remains "very bullish" on shares and that attention can now focus on the company's longer-term growth prospects. It keeps a Buy rating on ARRIS with a $40 price target.
October 29, 2014
17:57 EDTARRSARRIS expects Q4 adjusted EPS 58c-63c, consensus 63c
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16:14 EDTARRSARRIS reports Q3 adjusted EPS 81c, consensus 72c
Reports Q3 revenue $1.40B, consensus $1.40B. Order backlog at the end of Q3 was $594.1M.
October 24, 2014
08:54 EDTARRSARRIS price target lowered to $36 from $40 at Brean Capital
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