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Stock Market & Financial Investment News

News Breaks
January 16, 2014
08:31 EDTBEAM, CCEBeam downgraded to Sell from Hold at Argus
Argus downgraded Beam (BEAM) after Suntory Holdings offered to acquire the company for $83.50 per share, or $16 B. The firm does not expect Beam to rise significantly higher, and recommends that investors sell their shares and buy Coca-Cola Enterprises (CCE).
News For BEAM;CCE From The Last 14 Days
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April 24, 2014
17:19 EDTBEAMUnder Armour to replace Beam in S&P 500 as of 4/30 close
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10:17 EDTCCECoca-Cola Enterprises sees FY free cash flow at top end of prior guidance
Says commodities have continued to pull back "somewhat" since beginning of the year. Sees overall cost of sales per case to increase approx. 1.5%. Sees operating income growth back half weighted. Says on track to deliver FY guidance. Says committed to share repurchases of $800M by the end of the year. Says overall economic conditions remain "difficult." Comments made on the Q1 earnings conference call.
07:33 EDTCCECoca-Cola Enterprises sees FY14 EPS growth approximately 10%, consensus $2.89
For 2014, CCE continues to expect earnings per diluted share to grow approximately 10 percent on a comparable and currency neutral basis. Based on recent rates, currency translation would benefit full-year 2014 earnings per share by just over 5 percent. Net sales are expected to grow in a low single-digit range and operating income is expected to grow in a mid-single-digit range. This outlook is comparable and currency neutral. The company now expects 2014 free cash flow of approximately $650 million. Capital expenditures are expected to be approximately $350 million. Weighted average cost of debt is expected to be approximately 3 percent and the comparable effective tax rate for 2014 is expected to be in a range of 26 percent to 28 percent.
07:33 EDTCCECoca-Cola Enterprises reports Q1 comparable EPS 46c, consensus 44c
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07:32 EDTCCECoca-Cola Enterprises affirms FY guidance
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April 22, 2014
16:35 EDTBEAMBeam intends to delist and deregister common stock
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08:31 EDTBEAMEU approves Suntory's proposed acquisition of Beam
Beam announced that the European Commission has given regulatory clearance to the pending acquisition of Beam by Suntory Holdings. Upon completion of the $16B transaction, each share of Beam common stock will convert into the right to receive $83.50 in cash.“Regulatory clearance from the European Commission paves the way to complete the transaction with Suntory Holdings next week,” said Matt Shattock, president and CEO of Beam. “We have been working with Suntory to help ensure a smooth integration as we create the world’s #3 premium spirits company, which will possess a dynamic portfolio across key categories, powerful global routes to market, and strong innovation capabilities. Our portfolios and operations are highly complementary, so we’ll be focused on sustaining our momentum and generating sales synergies as we bring our companies together.” The transaction, which has been approved by Beam shareholders, remains subject to customary closing conditions. The companies now expect that the acquisition will be completed on April 30 in the United States, and as a result, Beam expects that its shares will no longer trade on the New York Stock Exchange effective at the end of trading on that day.
April 19, 2014
20:58 EDTBEAMBeam says CFO Robert Probst resigning ahead of Suntory acquisition
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April 17, 2014
16:12 EDTBEAMPershing Square cuts stake in Beam to 3.4% from 5.5%
April 15, 2014
17:14 EDTBEAMPershing Square lowers stake in Beam to 5.5% from 7.1%
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10:29 EDTBEAMOptions with increasing implied volatility: YOKU CWH BEAM
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