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Stock Market & Financial Investment News

News Breaks
December 13, 2012
10:12 EDTFBHS, CPRT, BKD, OIS, DRC, BEAV, GRA, SNTA, NX, BKW, MCP, MDCA, BWLD, EAT, AYR, ACGL, ADK, AXSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AXIS Capital (AXS) initiated with a Buy at Goldman... AdCare (ADK) initiated with an Outperform at Imperial Capital... Aircastle (AYR) initiated with a Buy at Deutsche Bank... Albermarle (ALB) initiated with an Outperform at RW Baird... Arch Capital (ACGL) initiated with a Neutral at Goldman... Brinker (EAT) initiated with a Buy at Citigroup... Buffalo Wild Wings (BWLD) initiated with a Neutral at Citigroup... Burger King (BKW) initiated with a Buy at Citigroup... MDC Partners (MDCA) initiated with a Buy at Capstone... Molycorp (MCP) initiated with a Neutral at RW Baird... Quanex (NX) initiated with an In-Line at Imperial Capital... Synta Pharmaceuticals (SNTA) initiated with a Buy at Brean Capital... W.R. Grace (GRA) initiated with an Outperform at RW Baird... BE Aerospace (BEAV)initiated with an Overweight at JPMorgan... Fortune Brands (FBHS) initiated with a Neutral at JPMorgan... Dresser-Rand (DRC) initiated with a Buy at Guggenheim... Oil States (OIS) initiated with a Buy at Guggenheim... Brookdale Senior Living (BKD) initiated with a Neutral at Macquarie... Copart (CPRT) initiated with a Buy at Northcoast.
News For AXS;ADK;ACGL;AYR;EAT;BWLD;MDCA;MCP;BKW;NX;SNTA;GRA;BEAV;DRC;OIS;BKD;CPRT;FBHS From The Last 14 Days
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September 22, 2014
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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11:59 EDTMCPPegasus Partners lowers stake in Molycorp to 3.3%
Pegasus Partners disclosed that from August 19 to August 21, it sold 3.39M shares of Molycorp at average weighted sales prices for each day ranging from $1.85 to $2.07. Pegasus now owns 3.3% of the company's outstanding shares.
11:55 EDTMCPPegasus Partners reports 3.3% stake in Molycorp
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09:56 EDTDRCDresser-Rand downgraded to Sell from Buy at Gabelli
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09:19 EDTMCP, DRCOn 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.
06:35 EDTDRCReport says Siemens planning Dresser-Rand bid, Reuters says
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September 18, 2014
18:25 EDTMCPOn The Fly: After Hours Movers
HIGHER: Concur (CNQR), up 19.5% after SAP (SAP) announced that it will acquire the company for $129 per share... Navidea Biopharmaceuticals (NAVB), up 9.8% after confirming FDA orphan designation for Lymphoseek... Molycorp (MCP), up 6.1% after Oaktree Capital reported a 9.1% passive stake in the company... JetBlue (JBLU), up 4.6% following CEO transition announcement... Wendy's (WEN), up 2.15% after Trian reported a 24.39% stake in the company... Sears Holdings (SHLD), up 2.6% after Fairholme Capital reported a 24% stake in the company... AMD (AMD), up 1% after announcing that it expanded an IP partnership with Synopsys (SNPS). DOWN AFTER EARNINGS: Red Hat (RHT), down 3%... Oracle (ORCL), down 2.4% following first quarter earnings miss and CEO transition... Tibco Software (TIBX), down 5.5%. ALSO LOWER: Quest Resource (QRHC), down 13.4% after filing an automatic common stock and warrant shelf... Eagle Rock (EROC), down 4.5% after filing to sell 53.34M common units for limited partners... Chatham Lodging (CLDT), down 3.3% after filing to sell 5M shares of common stock... Glu Mobile (GLUU), down 2.3% after filing to sell 9.98M shares of common stock for holders... Blackstone Mortgage (BXMT), down 1.6% after filing to sell 8M shares of common stock.
17:00 EDTBKWCarrols Restaurant to buy 30 Burger King restaurants in North Carolina
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16:08 EDTMCPOaktree Capital reports 9.1% passive stake in Molycorp
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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