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Stock Market & Financial Investment News

News Breaks
January 8, 2013
10:00 EDTRTN, MYL, FTI, EMC, BHI, NE, ATK, ROK, JBLU, ES, CF, AZO, DDR, NOC, NOV, FIO, EMR, BPI, SRC, ASBCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Associated Banc-Corp (ASBC) downgraded to Hold from Buy at Deutsche Bank... AutoZone (AZO) downgraded to Underweight from Equal Weight at Morgan Stanley... Baker Hughes (BHI) downgraded to Sector Perform from Outperform at RBC Capital... Bridgepoint Education (BPI) downgraded to Equal Weight from Overweight at Barclays... CF Industries (CF) downgraded to Market Perform from Outperform at BMO Capital... EMC (EMC) downgraded to Market Perform from Outperform at William Blair... Emerson (EMR) downgraded to Equal Weight from Overweight at Morgan Stanley... EnergySolutions (ES) downgraded to Market Perform from Outperform at FBR Capital... FMC Technologies (FTI) downgraded to Sector Perform from Outperform at RBC Capital... Fusion-io (FIO) downgraded to Market Perform from Outperform at William Blair... JetBlue (JBLU) downgraded to Hold from Buy at Deutsche Bank... Mylan (MYL) downgraded to Equal Weight from Overweight at Morgan Stanley... National Oilwell (NOV) downgraded to Sector Perform from Outperform at RBC Capital... Rockwell (ROK) downgraded to Underweight from Equal Weight at Morgan Stanley... Raytheon (RTN) downgraded to Neutral from Overweight at JPMorgan... Northrop Grumman (NOC) downgraded to Underweight from Neutral at JPMorgan... Alliant Techsystems (ATK) downgraded to Neutral from Outperform at Cowen... Spirit Realty (SRC) downgraded to Market Perform from Outperform at Raymond James... DDR Corp. (DDR) downgraded to Hold from Buy at Jefferies... Noble Corp. (NE) downgraded to Market Perform from Outperform at Raymond James.
News For ASBC;AZO;BHI;BPI;CF;EMC;EMR;ES;FTI;FIO;JBLU;MYL;NOV;ROK;RTN;NOC;ATK;SRC;DDR;NE From The Last 14 Days
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November 17, 2014
08:35 EDTBHIHalliburton says tax synergies may come on top of other synergies outlined
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08:21 EDTBHIHalliburton says has identified numerous potential buyers if divestitures needed
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08:18 EDTNOCNorthrop Grumman awarded Marine Corp. helicopter computer contract
Northrop Grumman has been awarded a contract from Naval Air Systems Command to deliver its next-generation mission computer for the Marine Corps' H-1 helicopter upgrade program. Under this contract, Northrop Grumman will provide FlightPro Gen III mission computers for the UH-1Y and AH‑1Z aircraft. These aircraft will be the first to benefit from the latest model in the FlightPro product line. Deliveries will be completed by October 2017.
07:47 EDTBHIHalliburton volatility elevated into Baker Hughes acquiring for $34.6B
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07:27 EDTATKATK upgraded to Buy from Neutral at Monness Crespi
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07:19 EDTBHIBaker Hughes volatility elevated into Halliburton acquiring for $34.6B
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07:12 EDTBHIBloomberg / Mayer Brown to co-host a conference
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07:12 EDTBHIHalliburton and Baker Hughes host conference call
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07:08 EDTBHIBaker Hughes up 18% following acquisition by Halliburton
06:56 EDTBHIHalliburton subject to $3.5B break up fee
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06:56 EDTBHIHalliburton CEO Lesar to remain CEO of combined company, board to expand to 15
The combined company will maintain the Halliburton (HAL) name and continue to be traded on the New York Stock Exchange under the ticker symbol “HAL.” The company will be headquartered in Houston, Texas. Dave Lesar will continue as chairman and CEO of the combined company. Following the completion of the transaction, the combined company’s board is expected to expand to 15 members, three of whom will come from the Board of Baker Hughes. Concurrently with the execution of the merger agreement, Halliburton withdrew its slate of directors nominated for the board of Baker Hughes.
06:52 EDTBHIBaker Hughes holders to receive 1.12 Halliburton shares plus $19.00 cash
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06:50 EDTBHIHalliburton sees nearly $2B in annual cost synergies
Dave Lesar, chairman and CEO of Halliburton (HAL) stated, "The stockholders of Baker Hughes (BHI) will immediately receive a substantial premium and have the opportunity to participate in the significant upside potential of the combined company. Our stockholders know our management team and know we live up to our commitments. We know how to create value, how to execute, and how to integrate in order to make this combination successful. We expect the combination to yield annual cost synergies of nearly $2 billion. As such, we expect that the acquisition will be accretive to Halliburton’s cash flow by the end of the first year after closing and to earnings per share by the end of the second year. We anticipate that the combined company will also generate significant free cash flow, allowing for the return of substantial capital to stockholders.”
06:47 EDTBHIHalliburton to acquire Baker Hughes for $78.62 per share
Halliburton (HAL) and Baker Hughes (BHI) announced a definitive agreement under which Halliburton will acquire all the outstanding shares of Baker Hughes in a stock and cash transaction. The transaction is valued at $78.62 per Baker Hughes share, representing an equity value of $34.6B and enterprise value of $38B, based on Halliburton’s closing price on November 12, the day prior to public confirmation by Baker Hughes that it was in talks with Halliburton regarding a transaction. Upon the completion of the transaction, Baker Hughes stockholders will own approximately 36% of the combined company. The agreement has been unanimously approved by both companies’ boards. The transaction combines two highly complementary suites of products and services into a comprehensive offering to oil and natural gas customers. On a pro-forma basis the combined company had 2013 revenues of $51.8B, more than 136,000 employees and operations in more than 80 countries around the world.
06:45 EDTBHIHalliburton, Baker Hughes reach agreement to combine
06:02 EDTEMCStocks with implied volatility movement; WFT EMC
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05:54 EDTBHIStocks with implied volatility movement; BHI CZR
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November 16, 2014
18:06 EDTSRCSpirit Realty shares can go higher, Barron's says
Spirit Realty shares have returned 29% in a year and shares still have room to rise, Barron's contends in a follow up article. Reference Link
15:26 EDTBHIBaker Hughes, Halliburton differed on pace of deal discussions, WSJ says
Before going hostile, Halliburton (HAL) indicated it would raise its mid-October bid to buy Baker Hughes (BHI), says the Wall Street Journal. According to the Wall Street Journal report, Halliburton did not come through with an improved bid before Friday, a deadline to nominate directors to Baker Hughes’s board for the company’s annual meeting in April. According to people familiar with the matter between Oct. 13, when Halliburton made its proposal to Baker Hughes, and this past Friday, Halliburton felt Baker Hughes wasn’t engaging on the offer and Baker Hughes felt pressured by its rival to act quickly under a deadline, added the Wall Street Journal. Reference Link
November 15, 2014
08:21 EDTBHIBaker Hughes says Halliburton trying to replace entire board
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