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Stock Market & Financial Investment News

News Breaks
June 19, 2014
07:37 EDTBRKRBruker upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo upgraded Bruker to Outperform after speaking with management as it believes the company is being "fairly aggressive" with the CAM restructuring. Wells expects Bruker to see meaningful improvement in cash flow and earnings and it raised its price target range for shares to $25-$27 from $21-$22.
News For BRKR From The Last 14 Days
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July 28, 2014
07:02 EDTBRKRBruker acquires Vutara, terms not disclosed
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July 23, 2014
13:39 EDTBRKRThermo Fisher Q2 results bode well for PerkinElmer, Bruker, says Mizuho
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12:16 EDTBRKRBruker says profitability to improve once CAM restructuring plan implemented
Bruker approved a plan to divest certain assets and implement a restructuring program in the Chemical & Applied Markets, CAM, division within the Bruker CALID Group. These divestment and restructuring actions are expected to result in a reduction of CAMís employee headcount by approximately 200 to 250 people and are expected to lead to CAM-related restructuring and other one-time charges of between $35M and $40M, of which $10M to $13M are expected to result in future cash charges for employee separation and facility exit costs, and $25M to $27M are estimated for inventory write-downs and asset impairments. The restructuring charges are expected to be incurred in the 2H14 and 1H15. Proceeds from potential divestitures cannot be estimated at this time. The company currently anticipates that the annual run-rate revenues for the CAM products and services will be reduced by approximately $50M-$70M, and profitability is expected to be improved by $15M to $20M annually, once the Plan is fully implemented. The company expects to provide further details on its CAM restructuring plans and financial outlook for 2014 on its Q214 earnings conference call scheduled for August 6. Additionally, as the Plan is implemented, management will continue to evaluate the estimated costs associated with the Plan and may revise its estimates of such costs and the related accounting charges.
12:09 EDTBRKRBruker to impliment restructuring program in CAM division
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July 17, 2014
06:20 EDTBRKRBruker initiated with a Buy at Citigroup
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