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Stock Market & Financial Investment News

News Breaks
January 22, 2014
10:04 EDTBEAV, CIT, ISIS, DOC, AWI, MTH, CBB, COL, CTRXOn the Fly: Analyst Initiation Summary
ANI Pharmaceuticals (ANIP) initiated with an Outperform at Oppenheimer... BE Aerospace (BEAV) initiated with a Buy at Topeka... CIT Group (CIT) initiated with a Neutral at Goldman... Fidelity & Guaranty Life (FGL) initiated with a Neutral at JPMorgan... Isis Pharmaceuticals (ISIS) initiated with a Buy at Deutsche Bank... Physicians Realty Trust (DOC) initiated with a Hold at KeyBanc... SLM Corp. (SLM) initiated with a Buy at Goldman... Triumph Group (TGI) initiated with a Hold at Topeka... Valero Energy Partners (VLP) initiated with a Neutral at Citigroup... Xylem (XYL) initiated with an Outperform at Oppenheimer... Armstrong World (AWI) initiated with a Hold at Gabelli... Meritage Homes (MTH) initiated with a Neutral at BofA/Merrill... Exelis (XLS) initiated with an Outperform at Cowen... Cincinnati Bell (CBB) initiated with an Overweight at Stephens... Rockwell Collins (COL) resumed with an Overweight at JPMorgan... Fidelity & Guaranty Life (FGL) initiated with an Outperform at Credit Suisse... Catamaran (CTRX) initiated with a Buy at Argus.
News For BEAV;CIT;ISIS;DOC;AWI;MTH;CBB;COL;CTRX From The Last 14 Days
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July 22, 2014
07:52 EDTCITCIT: OneWest acquisition to have 12-13% pre-tax return on tangible common equity
The acquisition will have a 8% tangible book value per share dilution with approximately four-year earnback. CIT says it will maintain OneWest's existing branches and infrastructure. The restructuring charge will be $75M pre-tax. CIT's board has authorized an additional $500M share repurchase to be executed prior to closing. The synergies from the acquisition will be 100% phased in 2016 with 76c accretion. Sees FY16 standalone EPS of $3.73 and FY16 pro forma EPS of $4.49. Comments taken from slides for call to discuss OneWest acquisition.
07:36 EDTCOLRockwell Collins now sees FY14 EPS $4.45-$4.55, consensus $4.50
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07:34 EDTCOLRockwell Collins to sell satellite communications systems business
The company announced it entered into an agreement to sell its satellite communications systems business formerly known as Datapath, which designs, manufactures and services ground-based satellite communication systems primarily for military customers. The sale is subject to customary closing conditions and is expected to close in the fourth quarter of fiscal 2014.
07:33 EDTCOLRockwell Collins reports Q3 continuing ops EPS $1.19 consensus $1.17
Reports Q3 revenue $1.26B, consensus $1.3B.
06:38 EDTCITCIT Group reports Q2 Tier 1 Capital Ratio of 16%
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06:37 EDTCITCIT Group reports Q2 EPS cont ops $1.02, consensus 85c
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06:33 EDTCITCIT Group to repurchase up to $500M of common stock through June 30, 2015
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06:32 EDTCITCIT Group to acquire OneWest Bank for $3.4B in cash and stock
CIT Group announced that it has entered into a definitive agreement and plan of merger with IMB Holdco, the parent company of OneWest Bank, for $3.4B in cash and stock. OneWest Bank is a privately owned regional bank that operates 73 retail branches in Southern California, with approximately $23B in assets, including commercial and residential mortgage loans, and $15B in deposits. Following the close of the transaction, CIT Bank, CIT’s banking subsidiary, will merge with OneWest Bank under the “CIT Bank” name and CIT will have assets of $67B and $28B in deposits. CIT expects the transaction to be 20% accretive to earnings per share. Under the terms of the Agreement, IMB Holdco LLC shareholders will receive $2.0 billion in cash and 31.3 million shares of CIT Group Inc. common stock currently valued at $1.4 billion assuming a CIT stock price of $44.33. The transaction has been approved by the boards of directors of both companies and is subject to customary closing conditions and regulatory approvals.
July 17, 2014
07:10 EDTISISIsis Pharmaceuticals begins Phase 2 study of candidate for high lipoprotein(a)
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July 16, 2014
07:35 EDTCITCIT Group, Rolls-Royce finalize agreement for Trent 7000 engines for A330-900neo
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07:14 EDTISISIsis Pharmaceuticals earns $1M milestone payment from GlaxoSmithKline
Isis Pharmaceuticals (ISIS) has earned a $1M milestone payment from GlaxoSmithKline (GSK) related to the advancement of the Phase 2/3 study of ISIS-TTRRx in patients with familial amyloid polyneuropathy. ISIS-TTRRx is an antisense drug in development with GSK for the treatment of transthyretin amyloidosis, a severe and rare genetic disease characterized by progressive dysfunction of peripheral nerve and/or heart tissues. Including this milestone payment, Isis has generated $27M in upfront and milestone payments for advancing ISIS-TTRRx. If GSK elects to exercise its option to exclusively license the ISIS-TTRRx program, Isis is eligible to receive a license fee, regulatory and sales milestone payments and double-digit royalties on sales of ISIS-TTRRx.
05:54 EDTCOLCathay Pacific begins implementation of Rockwell Collins ARINC eEnabled solution
Rockwell Collins (COL) announced it has reached a major milestone in implementing a complete take-off-to-touchdown advanced information management solution as Cathay Pacific (CPCAY) begins operational evaluation of the company’s eEnabled Aircraft Solution on three 777-300ER aircraft. Rockwell Collins’ ARINC eEnabled Aircraft Solution allows for secure information management of flight operations, data communication services, cabin services, maintenance, diagnostics and vital safety information throughout flight, enhancing operational efficiencies and reducing costs. It improves accuracy of fueling requirements, provides potential for increased payload, and allows for automatic upgrades of installed and portable electronic flight bags.
July 15, 2014
10:20 EDTCITCIT Group increases dividend by 50% to 15c
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08:10 EDTCITCIT Group places order for 10 787-9 Boeing Dreamliners
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08:05 EDTCITBoeing, CIT Group announce order for 10 additional 787-9 Dreamliners
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07:32 EDTCOLRockwell Collins' Flight Control Module selected for Boeing 777x
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07:26 EDTCOLUBS to hold events at Farnborough Air Show
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07:16 EDTCOLCredit Suisse events at Farnborough Air Show
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07:04 EDTCOLBoeing selects BAE for Integrated Flight Control Electronics system
Boeing (BA) has selected a BAE Systems (BAESY)-led team to provide electronics for the 777X flight control system through a procurement process. The system, known as the Integrated Flight Control Electronics and the Air Data Reference Function, will control the flight surfaces of the aircraft and integrate additional functionality unique to the 777X. BAE Systems is teaming with Rockwell Collins (COL) to bring this capability to Boeing. The 777X is scheduled to begin production in 2017 and first delivery is targeted for 2020.
06:16 EDTCITCIT Aerospace signs MOU with Airbus for twenty aircrafts
CIT Group announced from the Farnborough International Air Show that CIT Aerospace has signed memorandums of understanding, or MOU, with Airbus for 15 A330-900neo aircraft and five A321-200ceo aircraft. Deliveries of the A330-900neo are scheduled to begin in 2018 and deliveries of the A321-200ceo are scheduled to begin in 2015.
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