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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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February 23, 2015
05:07 EDTARRSARRIS selected to build next-generation HFC broadband network by NBN Co
NBN Co, the government business enterprise tasked with delivering open access broadband network to all Australians, has chosen ARRIS to build its next-generation Hybrid Fiber-Coaxial, or HFC, broadband network. Using HFC technology will allow NBN Co to build upon existing cable infrastructure which will mean significant cost savings for Australian tax-payers over alternative technologies. It also will allow advanced broadband speeds to be delivered to subscribers across Australia.
February 19, 2015
07:19 EDTARRSARRIS results solid, guidance appears conservative, says Brean Capital
Brean Capital said ARRIS reported solid Q4 results, but its guidance appears to be conservative. The firm expects ARRIS to continue to outperform on the back of multiple expansion and upward revision of estimates. Brean Capital reiterated its Buy rating but lowered its price target to $34 from $36 on ARRIS shares.
February 18, 2015
16:03 EDTARRSARRIS sees Q1 adjusted EPS 40c-45c, consensus 55c
Sees Q1 revenue $1.2B-$1.24B, consensus $1.24B. "Our business in the first quarter is being impacted by anticipated reductions in volume, product mix, and price reductions implemented at the beginning of the year," said David Potts, ARRIS CFO.
16:02 EDTARRSARRIS reports Q4 adjusted EPS 78c, consensus 61c
Reports Q4 revenue $1.26B, consensus $1.26B. Order backlog was $631.0M and the company's book-to-bill ratio was 1.03.
15:35 EDTARRSNotable companies reporting after market close
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