Stock Market & Financial Investment News

News Breaks October 15, 2012 06:36 EDT BMC BMC Software downgraded to Market Perform from Outperform at Raymond James Raymond James downgraded BMC Software following checks that indicate operational and sales headwinds, and valuation. News For BMC From The Last 14 Days Check below for free stories on BMC the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 10, 2013 11:59 EDT BMC Options with decreasing implied volatility: GRPN DGIT BMC BAX TRIP Subscribe for More Information May 9, 2013 11:31 EDT BMC Options with decreasing implied volatility: BMC TPX DGIT GRPN WTW Subscribe for More Information 06:31 EDT BMC BMC Software downgraded to Neutral from Positive at Susquehanna Subscribe for More Information 05:51 EDT BMC BMC Software downgraded to Hold from Buy at Jefferies Subscribe for More Information May 8, 2013 12:14 EDT BMC Options with decreasing implied volatility: MBI INVN EZCH BMC WTW Subscribe for More Information May 7, 2013 12:53 EDT BMC Options with decreasing implied volatility: QCOR BMC FOSL TPX LNKD Subscribe for More Information May 6, 2013 19:57 EDT BMC BMC Software reports Q4 diluted EPS 87c, consensus 93c Subscribe for More Information 16:39 EDT BMC On The Fly: Closing Wrap The Wall Street averages were mixed as a light news flow and light volume did little to catalyze a further advance. Still, with its positive close, the S&P 500 managed to set a new all-time closing high. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Bank of America (BAC) and MBIA (MBI) announced a comprehensive settlement to resolve all claims between the two companies. As part of the settlement, Bank of America will pay MBIA $1.6B in cash, receive warrants to purchase a 4.9% equity stake in MBIA and provide a $500M credit facility to the bond insurer. Bank of America also said it would take $1.3B in Q1 charges related to the settlement and that its first quarter earnings would be negatively impacted by 10c per share. Shares of MBIA, which spiked higher near noon after Dow Jones first reported the settlement, closed up $4.46, or 45.37%, to $14.29. Bank of America shares added 64c, or 5.23%, to $12.88... A team of private-equity firms led by Bain Capital and Golden Gate Capital agreed to buy BMC Software (BMC) for $46.25 per share in cash, or $6.9B. BMC shares, which have added more than 14% year-to-date amidst reports of negotiations for the deal, closed unchanged at $45.42. MAJOR MOVERS: Among notable gainers was Arkansas Best (ABFS), up $4.18, or 39.62%, to $14.73 after reaching a tentative labor agreement with the Teamsters union. Also higher was Tesla (TSLA), up $4.95, or 9.07%, to an all-time closing high of $59.50 after Barclays raised its price target on shares to $56 from $38 and the company named Aston Martin's lead vehicle engineer as VP of vehicle engineering. Among the noteworthy losers were LINN Energy (LINE), down $1.97, or 5.21%, to $35.75, and its spin-off LinnCo (LNCO), down $2.59, or 6.2%, to $39.24, following a cautious mention in this weekend's Barron's magazine. Also lower were shares of Tyson Foods (TSN), down 83c, or 3.33%, to $24.10 after its earnings report. INDICES: The Dow was down 5.07, or 0.03%, to 14,968.89; the Nasdaq was up 14.34, or 0.42%, to 3,392.97; and the S&P 500 was up 3.08, or 0.19%, to 1,617.50. 12:53 EDT BMC On The Fly: Midday Wrap Subscribe for More Information 12:07 EDT BMC Options with decreasing implied volatility: PBI BMC SWI HLF WTW 10:54 EDT BMC BMC Software takeout a positive for Emulex, says Craig-Hallum Craig-Hallum said BMC Software's (BMC) takeout is a positive for Emulex (ELX) given Elliott's ownership and Board seats. The analyst believes shares can move higher on speculation that Elliott could succeed in a similar outcome for Emulex. Shares of Emulex are Hold rated with a $7 price target. 09:26 EDT BMC Elliott Management comments on sale of BMC Software for $6.9B Subscribe for More Information 09:14 EDT BMC BMC Software deal valued at approximately $6.9B Subscribe for More Information 09:14 EDT BMC BMC Software to be acquired for $46.25 per share by Bain Capital, Golden Gate BMC Software has signed a definitive agreement to be acquired by a private investor group led by Bain Capital and Golden Gate Capital together with GIC Special Investments Pte Ltd and Insight Venture Partners. Under the terms of the agreement, affiliates of the Investor Group will acquire all outstanding BMC common stock for $46.25 per share in cash, or approximately $6.9B, representing an attractive premium to the company's unaffected stock price. The agreement was approved by unanimous vote of those directors present. Elliott Management, which owns 9.6% of the BMC common stock, has agreed to vote its shares in favor of the transaction. There is no financing condition associated with the proposed acquisition. Credit Suisse, RBC Capital Markets and Barclays have agreed to provide debt financing in connection with the transaction. The transaction, which is expected to close later this year, is subject to approval from BMC shareholders, regulatory approvals and other customary closing conditions. Under the terms of the agreement, for a period of 30 calendar days, BMC may solicit alternative proposals from third parties. BMC does not anticipate that it will disclose any developments with regard to this process unless and until the BMC board of directors makes a decision with respect to a potential superior proposal. There are no guarantees that this process will result in a superior proposal. 09:13 EDT BMC BMC Software to be acquired for $46.25 per share by Bain Capital, Golden Gate Subscribe for More Information 09:07 EDT BMC BMC Software trading halted, pending news Subscribe for More Information 05:59 EDT BMC BMC Software volatility up into private equity team set to buy BMC Software overall option implied volatility of 33 is above its 26-week average of 27 according to Track Data, suggesting larger price movement into private equity team to buy BMC Software, WSJ reports. 05:21 EDT BMC Private equity team to buy BMC Software, WSJ reports Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.