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Stock Market & Financial Investment News

News Breaks
December 11, 2012
10:00 EDTBCRX, FWLT, ARW, AWR, HSP, EPR, XUE, LPL, CBLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Arrow Electronics (ARW) downgraded to Underperform from Outperform at CLSA... CBL & Associates (CBL) downgraded to Neutral from Buy at Goldman... Entertainment Properties (EPR) downgraded to Neutral from Buy at Goldman... Foster Wheeler (FWLT) downgraded to Neutral from Buy at Lazard Capital... Hospira (HSP) downgraded to Sell from Neutral at Goldman... LG Display (LPL) downgraded to Sell from Hold at Topeka... BioCryst (BCRX) downgraded to Hold from Buy at Noble Financial... Xueda Education (XUE) downgraded to Sell from Buy at Goldman... American States Water (AWR) downgraded to Neutral from Buy at Ladenburg.
News For ARW;CBL;EPR;FWLT;LPL;HSP;BCRX;XUE;AWR From The Last 14 Days
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January 28, 2015
05:33 EDTARWArrow Electronics initiates tender offer to acquire Data Modul AG
Arrow Electronics, through its wholly-owned subsidiary in Munich, Germany, is initiating an all-cash tender offer to acquire the shares of Data Modul AG for a purchase price of $31.00 per share based on current exchange rates. The purchase price represents a premium of approximately 35% on the weighted average stock exchange price of the Data Modul AG-shares during the prior three months. Headquartered in Munich, Germany, Data Modul AG has operations in Europe, Middle East, Asia, and North America. Sales in 2014 are estimated to be EUR 160M. The purchase price assuming all shares are tendered would be approximately $105M based on current exchange rates.
January 26, 2015
12:23 EDTLPLOn The Fly: Midday Wrap
Stocks on Wall Street opened lower and hit their session lows a short time after the opening bell rang. In addition to some jitters about a vote in Greece, investors were focused on the massive impending winter storm set to hit the Northeast. With weather pundits expecting the snowfall in feet rather than inches, a number of companies have already rescheduled their earnings announcements. The market was mixed at midday, with the Dow and Nasdaq a bit lower and the S&P up fractionally. ECONOMIC EVENTS: In the U.S., the Dallas Fed manufacturing index fell 8.5 points to -4.4 in January, versus the consensus forecast for a reading of 4.0. In Europe, Greece's far-left Syriza party swept to power, renewing concerns about the country's future as a member of the Eurozone. COMPANY NEWS: Today was a "merger Monday," with at least four deals worth more than $1B announced. Energy Transfer Partners (ETP) announced plans to acquire Regency Energy Partners (RGP) in an $18B unit-for-unit transaction that includes assuming $6.8B of net debt and other liabilities. Rock-Tenn (RKT) and MeadWestvaco (MWV) agreed to merge to create a consumer and corrugated packaging company with a combined equity value of $16B. Under the terms of the deal, the resulting ownership of the new company will be approximately 50.1% by MWV shareholders and 49.9% by RockTenn shareholders. AXIS Capital (AXS) and PartnerRe (PRE) announced a "merger of equals" that will create a specialty insurance and reinsurance company with total capital of more than $14B and cash and invested assets of more than $33B. Additionally, cereal maker Post Holdings (POST) agreed to pay $1.15B in cash and stock to buy privately-held MOM Brands, which makes Malt-O-Meal and other breakfast products. MAJOR MOVERS: Among the notable gainers was Universal Display (OLED), which gained 11% after the company announced the signing of a new OLED technology license agreement and material purchase pact with LG Display (LPL). Also higher was Ocwen Financial (OCN), which rose 17% after the California Department of Business Oversight announced a $2.5M settlement with Ocwen Loan Servicing on Friday evening over the firmís failure for more than a year to provide loan information needed by the DBO to assess compliance with state mortgage lending laws. Also of note, Ocwen denied any basis for default under trust agreements that had been alleged by certain hedge funds and other RMBS investors to trustees and master servicers in connection with 119 RMBS trusts, which are serviced by Ocwen. Among the noteworthy losers was Brookdale Senior Living (BKD), which dropped 8% after the company lowered its forecast for FY15 Cash From Facility Operations, citing a combination of lower than expected occupancy and certain higher-than-anticipated insurance reserve adjustments. Also lower following its earnings reports was hard disk-drive maker Seagate (STX), which fell about 9%. INDEXES: Near midday, the Dow was down 1.41, or 0.01%, to 17,671.19, the Nasdaq was down 4.02, or 0.08%, to 4,753.86, and the S&P 500 was up 2.34, or 0.11%, to 2,054.16.
09:56 EDTBCRXBioCryst management to meet with JPMorgan
Meetings to be held in Boston on January 29-30 hosted by JPMorgan.
09:19 EDTBCRXOn The Fly: Pre-market Movers
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06:59 EDTBCRXBioCryst grants fast track designation for BCX4161
BioCryst announced that the FDA has granted Fast Track designation for BCX4161, a novel, orally administered, selective inhibitor of plasma kallikrein in advanced clinical development for the treatment of hereditary angioedema. BioCryst is enrolling HAE patients in the OPuS-2 trial of BCX4161; a double-blind, randomized, placebo controlled trial conducted in the U.S. and certain EU countries, with the goal of demonstrating the efficacy and safety of BCX4161 treatment for 12 weeks in approximately 100 patients with HAE. BioCryst expects to report results from OPuS-2 by the end of 2015.
06:46 EDTLPLUniversal Display and LG Display announcing technology license agreement
Universal Display (OLED) and LG Display (LPL) announced the signing of a new OLED Technology License Agreement and Supplemental Material Purchase Agreement. The agreements run through December 31, 2022. Today's announcement hopes to build on a long-term relationship between the two companies. Under the license agreement, Universal Display has granted LG Display non-exclusive license rights under various patents owned or controlled by Universal Display to manufacture and sell OLED display products. In consideration of the license grant, LG Display has agreed to pay Universal Display license fees and running royalties on its sales of these licensed products over the term of the agreement. Additionally, Universal Display will supply phosphorescent materials to LG Display for use in its licensed products.
January 25, 2015
13:57 EDTBCRXUK nurse make full recovery from Ebola, WSJ says
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January 22, 2015
10:03 EDTCBLOn the Fly: Analyst Downgrade Summary
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05:42 EDTCBLCBL & Associates downgraded to Equal Weight from Overweight at Barclays
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January 21, 2015
11:42 EDTAWRCPUC pact an incremental positive for California exposed names, says Wells Fargo
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January 16, 2015
11:08 EDTEPREPR Properties board increases monthly dividend by 6% to 30.25c
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